AGEING UPDATES ARE HERE
NOTE PRICEWATERHOUSE COOPERS
VALUED
CONSOLIDATED MINERALS 10% MORE IN JUNE 2006 DURING THE TITAN RESOURCES
TAKEOVER
PRICEWATERHOUSE COOPERS ARE
UNABLE TO MAKE A DECISION, SO THEY HAVE A PUNT EACH WAY. NOTE
THEY HAVE MADE 3 MISTAKES IN TABLE 11, HOW CAN YOU TAKE NOTICE OF A
COMPANY WHO MAKES 3 MISTAKES IN ONE TABLE.
IMAGINE BEING PAID $500,000
FOR THAT RUBBISH.
24th July 2007
ConsMin battle draws to close
Territory Resources is threatening to let its $950
million takeover bid for Consolidated Minerals wither on the vine in the
wake of an all-cash counter-offer from Brian Gilbertson’s Pallinghurst
Resources.
Factions gird loins for looming ConsMin battle | The Australian
Disgruntled ConsMin shareholders Glenn Stedman,
who holds a sizeable stake for a private investor, was so annoyed about the
Pallinghurst bid that he started ...
www.theaustralian.news.com.au/story/0,25197,21988859-15023,00.html - Similar
pages
ConsMin sweetener | Herald Sun
Queensland investor Glenn Stedman, who runs the
website Consolidated Minerals Takeover Vote No, said he had been in contact
with a number of shareholders ...
www.news.com.au/heraldsun/story/0,21985,21967292-664,00.html - Similar pages
ConsMin's minions twigging
And yesterday, two private ConsMin holders - Glenn
Stedman and Keith Barnard - stepped up their "Vote No" campaign, mailing out
a note to shareholders. ...
www.theaustralian.news.com.au/story/0,25197,22053267-16942,00.html - Similar
pages
[ More results from
www.theaustralian.news.com.au ]
War of words over ConsMin bid heats up | The Australian
... the Takeover Vote No campaign? It makes for very interesting reading and
the two shareholders who penned the letter, Glenn Stedman and Dr Keith
Barnard, ...
www.theaustralian.news.com.au/story/0,25197,22051356-15023,00.html - Similar
pages
A MEMO to Territory Resources.
TO: Territory Resources.
From: Daily Assay.
Subject: Press Speculation concerns.
Date: July 24.
Dear Territory,
I note with concern your concern about the press speculating as to whether
Territory will change the details of its takeover bid for Consolidated
Minerals.
19th June 2007
-
Kevin Andrusiak
- June 13,
2007
DISSIDENT Consolidated Minerals shareholders are pushing
for an investigation by regulators into the miner's
commodity pricing market updates, as industry experts
continue to forecast higher manganese and chromite
prices.
-
Kevin Andrusiak
-
June 14,
2007
THE
groundswell of opposition to the
Pallinghurst Resources bid for a
controlling stake in Consolidated
Minerals continues to grow with
industry sources claiming leading
shareholders with about 16 per cent
of the company will vote against the
scheme of arrangement.
NOT
fair, but reasonable. And in the best interest of
Consolidated Minerals' legion of shareholders.
How are ConsMin investors
supposed to react to that advice from PwC delivered
on Friday night as the scheme booklet hit the market
for Pallinghurst Resources' $625 million bid for
their company?
2nd June 06
An official complaint has now been submitted to the ASX claiming that
Consolidated Mineral's management have failed to update the market re: the
current market status and prices for manganese and chrome ore. The increases
are significant and the market should be updated especially when the company
is subject to a partial takeover bid by Pallinghurst Resources. This
failure to update to market can be seen as a dereliction of duty to
shareholders, and the result should be the dismissal of the Managing
Director and the entire board. Look at the charts and graphs for the
latest prices, and you decide, is the ConsMin management looking after your
interests?
MANGANESE LATEST PRICES - CHART - GRAPH
CHROME ORE LATEST PRICES - CHART - GRAPH
28th May 07
 |
Ex-BHP head to invest in resource sector
Scotsman, UK - 5 hours ago
JOHANNESBURG (Reuters) - An
investment group headed by former BHP
Billiton chief Brian Gilbertson and partners
plan to invest up to $1.5 billion (756
...
|
ConsMin bidder still up in air
The
Age, Australia - 27 May 2007
BRIAN Gilbertson jets into
Australia tomorrow in a bid to salvage his
floundering $320 million cash-scrip bid for
control of manganese and nickel miner ...
|
17th May 07
Price Of Chrome Ore
For China Rises Steeply To Higher Level Than US$400 / Ton CIF
= Following A Sharp Rise Of Spot Price For High Carbon Ferro-Chrome
15th May 07
NICKEL - There is still time to play the game.
13th May 07
TEX REPORT HERE - latest report
on manganese ore . Come back in a few days and I'll have the latest TEX
report on Chrome ore.
Chinese
silicomanganese, manganese metal offer prices surge
Hong Kong (Platts)--11May2007
Offer prices for Chinese-origin silicomanganese
rose to above $1,000/mt
on a CIF basis fueled by higher raw material costs and a shortage of spot
supply following the weeklong holidays in China, industry sources said this
week. Spot prices were quoted at $800-880/mt FOB China in late April.
One Tokyo-based trader said: "Price indications this week from China are
higher than $1,000/mt CIF Japan. And offers that we have received so far
range
from $1,100-1,300/mt [CIF Japan]." He added that higher electricity costs
were
the reason for higher prices. The trader, however, did not conclude any spot
deals this week as he wanted to watch the market further.
Chromium Ore and Ferrochromium Production
US ferrochrome prices climb on supply shortage
5th May 07 SEE
OUR CALCULATIONS ON FY07 SALES REVENUE
SEE THE BROKER
REPORT FROM BELL POTTER
30th April 07
Consolidation, then growth
Clive Henley
April 30, 2007 12:00am
THROUGHOUT its long history on the
stock exchange Consolidated Minerals - first listing in 1969 - has kept a
relatively low profile.
It has survived a number of market
booms and busts. A new chapter in its history is unfolding now with a scheme
of arrangement on the table.
The proposal by British-based
Pallinghurst and AMCI is to form a new ASX-listed resource company.
Shareholders in CSM have been
offered $1.38 and two shares in the new company for every five CSM shares.
This offer equates to around $2.30 per CSM share.
It is opportunistic and well timed,
coming as it does after a 2006 profit impacted by depressed manganese
prices. It also does not reflect an adequate premium for a change in control
at CSM.
The company mines manganese and
chromite near Port Hedland in Western Australia and nickel at Kambalda. Like
nickel, manganese and chromite are raw materials for carbon and stainless
steel.
CSM also has a 20 per cent interest
in the Jaguar copper project near Leonora and an iron ore project in a joint
venture with Fortescue Metals.
Following a loss in fiscal 2006
earnings are set to jump this year. Forecast earnings for 2007 equate to
17.6 per share with a dividend of 4 forecast placing the stock on a 1.6 per
cent yield at prices around $2.50.
Forecasts for the 2008 financial
year are for earnings per share of 39.8; a prospective price to earnings
ratio of a low 6.3 times.
The injection of new blood into the
company appears a definite positive.
Pallinghurst Resources is a natural
resources investment vehicle chaired by Brian Gilbertson (ex-BHP Billiton).
From a technical standpoint the
price action in recent times shows that the shares suffered a steady decline
in line with retreating earnings in 2005-06.
From a high of $4.40 in August 2005,
a low of $1.60 was reached in June 2006. Things have since improved.
First, in October last the downtrend
was broken following a strong rally to $2.50.
This, when combined with the fact
that the target from the top of $1.80 had been met and exceeded last June,
is a bullish sign.
Recently a new high at $2.70
represented the breakout of a base pattern with a short term target of $3.80
and possible longer term target of $4.80.
Some recent weakness is finding
support at $2.50 which appeals as an attractive purchase point with those
willing to take some risk.
27th April 07
STRONG SPECULATION
Does Gilbertson have a rival for Consolidated Minerals?
A competing bid by a grouping of
financial institutions is thought to be on the cards for Consmin – already
the subject of a bid from Brian Gilbertson-led Pallinghurst.
Author: Ross Louthean
Posted: Wednesday , 25 Apr 2007
PERTH -
Now that the Australian sharemarket
has started going cold on the Pallinghurst bid for control of manganese,
chromite and nickel miner Consolidated Minerals Ltd, there is warm
speculation of a competing bid that may certainly put Brian Gilbertson off
his Corn Flakes.
26th April 07
Private equity
group mulls move on ConsMin
25th April 2007, 9:00 WST
A private equity consortium led by investment
banks UBS and Goldman Sachs JBWere is believed to be running the numbers on
WA miner Consolidated Minerals to counter Brian Gilbertson’s floundering
$320 million partial takeover offer.
From outpost to outback
By Brendan Ryan
Expect the present management to be
working to a new strategy
Having made piles of money for SA,
Australian, British, Indian and Russian investors - not to mention himself -
Brian Gilbertson has now picked an obscure Australian nickel producer as his
next growth vehicle.
The
company is Consolidated Minerals (Consmin), listed on the Australian stock
exchange and London's AIM bourse.
16th April 07
Takeover bid still a goer: ConsMin
Paul Garvey
Monday, 16 April 2007
CONSOLIDATED Minerals managing director Rod Baxter
has again defended the bid of Brian Gilbertson's Pallinghurst Resources,
following claims from the company's ex-broker that the bid was "heading for
the rocks".
Numis Securities, which was the broker regulating ConsMin's London listing
before its sudden resignation soon after the Pallinghurst deal was
announced, said on Friday it had upgraded its target price for ConsMin to
146p, or around $A3.65.
Complete story here
15th April 07
http://www.mineweb.net/mineweb/view/mineweb/en/page67?oid=19348&sn=Detail
SHAREHOLDER OPPOSITION
Gilbertson’s initial bid for ConsMin may be holed
Investor resistance and a strong share price may force Brian Gilbertson’s
Pallinghurst Resources to raise its bid for Australian miner Consmin.
Author: Ross Louthean
Posted: Wednesday , 11 Apr 2007
PERTH -
Brian Gilbertson's good ship Pallinghurst Resources may be heading for the
shoals in its takeover bid for the West Australian manganese, chromite and
nickel miner Consolidated Minerals Ltd.
There has been mounting shareholder opposition to the bid - complete with a
dedicated anti-takeover website -- and the rising share price is adding
another negative.
ConsMin's share price on the Australian Stock Exchange today was $A2.63
($US2.16) and the Pallinghurst offer was $A1.38/share ($US1.13/share) plus
two shares in the new Consmin for every five shares held, with shareholders
receiving a 40% stake in the new company. Pallinghurst wants to gain a
minimum 50.1%. At the time ConsMin (whose board is supporting the
Pallinghurst bid) said the transaction valued the company at an enterprise
value of $A625 million ($US515), or at $A2.28/share ($US1.87/share).
Asset claims shadow Rusal IPO
and Consmin takeover bid ... chromite, nickel
and iron-ore miner Consolidated Minerals (Consmin)
and Pallinghurst Resources. ...
www.mineweb.net/mineweb/view/mineweb/en/page36?oid=19260&sn=Detail
- 54k - |
PALLINGHURST WILL SELL
csm'S MANGANESE BUSINESS TO RENOVA AND MAKE A NICE TIDY
... A website called "Consolidated Minerals takeover
VOTE NO" run by small ...
www.aussiestockforums.com/forums/printthread.php?t=964&page=6&pp=20
- 30k |
5th April 07
Nickel
hits $50,000/tonne on stocks, demand
Thu 5 Apr 2007, 9:44 GMT
Nickel hits new record high 05/04/2007 16:13
London - The price of nickel struck an
all-time high of $50 000 per tonne in London trading on Thursday owing to
falling stockpiles of the base metal, traders said.
It was the highest reading for nickel since the start of its quotation on
the London Metal Exchange (LME) in 1979. Nickel is used to help prevent
corrosion.
"If there are any worries about slowing US and or global growth then they
are not apparent from the performance of the base metals market, at least
not over the past few days," UBS analyst Robin Bhar said.
"Although further gains are possible we suspect prices (at these levels) are
unsustainable," he added.
The price of nickel has surged 50% since the start of 2007 and tripled in
one year. Later Thursday, the price of a tonne of nickel for delivery in
three months stood at $49 450.
Following the record high, profit-taking was expected ahead of the Easter
break, traders said.
4th April 07
www.asianmetal.com
[4-4] Ferrochrome prices rocket
universally
[4-4] Chrome ore prices keep increasing in Turkey
[4-4] Chrome ore price overtops RMB65/dmtu in China
STAINLESS STEEL - see why we use
more an more stainless steel.
http://www.assda.asn.au/data/portal/00007704/content/04232001175649635937.pdf
Nickel
hits a new high of US$23.08/lb - see the stainless steel news daily
www.asianmetal.com
Manganese Ore 43-45% China RMB/mtu 25.0-26.0 2007-3-30
www.metal-pages.com
Chrome ore prices rocket up in Southeast Asia 2007-4-3
Rocketing up Cr and Ni prices attract more smelters 2007-4-3
Manganese ore enjoys a booming market in China 2007-4-3
Mn alloys market still prosperous in India 2007-4-3
www.ferro-alloys.com
29th March 07
-
SEE LETTER FROM MANAGEMENT-
Chinese manganese metal prices surge; offers in wide range
Hong Kong (Platts)--29Mar2007
Chinese-origin 99.7% manganese metal offer prices have continued to rise,
moving beyond $3,000/mt FOB China this week. Prices, however, are quoted in
a wide range at $3,000-3,500/mt FOB China in a thin market, local traders
said
on Thursday. Prices were indicated at around $2,000-2,200/mt FOB China a
week
ago.
One Hong Kong-based trader said: "Offer prices for manganese metal are
changing every day. I am now offering material at about $3,200/mt FOB China
but could not find buyers so far." The trader said prices for its raw
material
carbonate manganese ore prices were rising, leading to firmer manganese
metal
prices. "Manganese ore is rich in Hunan province of China but the area's
mining activity has been further restricted by the government due to the
heightened environmetal protection policy in China," he said.
Another trader said: "The highest offer price level I heard earlier this
week was at $3,500/mt FOB China. Prices are up but we can't find spot
material
available so far. Chinese producers are holding back their material when
prices are going up." A third trader added: "Prices were up earlier this
week
but we are now seeing some technical correction these past two days. Offer
prices are all over the place and moving in wide range due to market
speculation."
26th March 07
Chinese
chrome metal prices up on export duty
Chinese chrome metal prices have increased in the past few weeks as the 15%
export duty, as well as the soaring prices for chrome ore, combine to push
levels upwards, market players told Metal-Pages today.
Rival ConsMin bid could be brewing: Numis
CONSOLIDATED Minerals' long-time trading ally Noble
Metals may be considering a rival bid for the diversified miner, according
to Numis Securities analyst John Meyer.
Last Friday, Noble's representative on the ConsMin board,
Richard Elman, tendered his resignation from the board with immediate
effect.
While ConsMin said the resignation was "due to increasing demands associated
with his position as chief executive officer of Hong Kong-based Noble
Group", Meyer said a potential bid from Noble for ConsMin could have been
behind the resignation.
"Noble Metals might look to make a rival offer for Consolidated Minerals and
this could be the reason for Elman's resignation," Meyer said in a note
released over the weekend.
21st
March 07
European Mn market rally persists
European manganese spot prices have jumped in the past couple of weeks,
extending a bull run on limited availability for prompt demand that has
seen the market increase some 40% since the start of this year, dealers
told Metal-Pages today
16th
March 07
Nickel prices have gone ballistic
The price of this strategic, silvery-white metal seems to be going as
high as the nickel-containing ballistic missiles that defend North
American air space. I hate to sound like a broken record, but the price
of nickel keeps on breaking records!
The cash price on the London Metal Exchange briefly smashed through the
psychological US$50,000 a tonne/US$22.68 a pound level on Thursday
before closing at US$22.32. Overnight inventories fell by nearly six
percent so nickel traders responded by driving the price of this
industrially vital metal up by about seven percent.
Brian Gilbertson
and friends go resource hunting
Two senior executives formerly active in the local mining
sector, Brian Gilbertson and Arne Frandsen, are forming part of a team
that is making an offer for Australian-listed and headquartered base
metals producer Consolidated Minerals.
The move could signal an increase in corporate activity in SA as both
executives will form a new group with a strategy that includes pursuing
new international growth opportunities.
15th
March 07
|
LONDON, March 14 (Reuters) - Base metal prices held firm in
Europe despite sharp declines in equity markets, with nickel
touching a new high as supply shortages supported prices.
"The stock market going down affected base metals but right
now the market is holding," a London Metal Exchange (LME) trader
said.
Nickel, which rose more than 30 percent since the start of
the year on rising stainless steel demand and delays in new
projects, set a new record of $45,000 a tonne on Wednesday.
Nickel futures for three-month delivery in the London Metal
Exchange were last quoted at $44,800/44,900 a tonne, up 2.8
percent from Tuesday's close.
"With nickel, the market is still tight. The inventories have
fallen again and cancelled warrants have risen. The price is
backed by these movements," metals analyst Michael Widmer at
Calyon Corporate Investment Bank, said. |
14th
March 07
Two day's supply driving
nickel nuts
http://www.theage.com.au/news/business/two-days-supply-driving-nickel-nuts/2007/03/13/1173722467808.html
EVEN a few months ago, mining industry insiders thought it
was crazy to imagine the nickel price would hit $US50,000 a
tonne — more than 10 times its price in 2001.
But the once
unfathomable barrier is now realistic after the spot price
of the stainless steel ingredient hit $US46,725 a tonne on
the London Metal Exchange yesterday, up 32 per cent from the
start of the year.
UPDATE
1-COMMODITIES-Nickel blazes to new high, oil firm
http://investing.reuters.co.uk/news/articleinvesting.aspx?type=allBreakingNews&storyID=2007-03-13T155718Z_01_L13734577_RTRIDST_0_MARKETS-COMMODITIES-UPDATE-1.XML
THERE'S NO STOPPING NICKELNickel for
three-month delivery on the London Metal Exchange hit a
record $44,750 (U.S.) a metric ton, giving the metal a
30 per cent gain since the start of this year.
“There's no stopping nickel and nobody can forecast
the price,” said analyst Stephen Briggs at SGCIB. “The
market is very tight and there's no immediate prospect
of that tightness easing.”
13th
March 07
CESSATION OF BROKER
Consolidated Minerals Limited advises that Numis Securities Limited has
ceased to act as broker to the Company in the UK market, with immediate
effect. The Company has initiated discussions with a replacement broker and
will advise when the appointment is made.
RFC Corporate Finance Ltd (contact Stephen Allen on +61 8 9480 2500) remains
Consolidated Minerals' nominated adviser.
Yours faithfully J B Abbott Company Secretary
www.minesite.com have an
interesting story on the takeover transaction.
Read it
The
Consolidated Minerals
takeover
VOTE NO website
is attracting more
and more feedback from disgruntled shareholders,
as this shareholder remarked "I don't
...
www.usail2.com/consolidated_takeover_updates.htm
- 58k - 10 Mar 2007
A
website called "Consolidated Minerals takeover VOTE NO"
run by small
individual shareholders has sprung up, encouraging
shareholders to let the company ...
www.smh.com.au/news/cbd/rex-pays-off-for-expollie/2007/03/05/1172943357854.html
-
Consolidated Minerals
eyes overseas move - Breaking News ...
