CBH - CBH Resources

[Miner]

Looks like some one sitting in CBH has written this particular post. Lot of narration with no target where the 53 cents share will go next quarter or year.

Regards

 

[UMike]

Looks like some one sitting in CBH has written this particular post. Lot of narration with no target where the 53 cents share will go next quarter or year.

Regards

Reads more like a cut and paste of a 3rd quarter report.

Not that I'm complaining.

I hold a large portion of my portfolio in CBH and have expected it to bounce higher than it recently has.

Will hold as I believe it is serverly undervalued. Westpac still rates it's intrinsic value at 74c. If it made up half the difference I'll be happy

 

[Rimtalay]

Hi Miner and Umike,
For those that dont know Ted Leschke .
Ted is the Research Manager (Resources ) for Shaw Stockbroking .BSc Applied Geology ,Grad Dip Economics.
Ted specialises in the resource sector and is a highly regarded equities analyst .Ted has over a decades experience working both in broking and funds management with coverage of both Australian and international resource companies alike .Prior to that Ted worked as a geologist at a number of base metal and coal operations as well as in mineral exploration .
Its great to see someone with Teds experience and qualifications picking up on CBH's potential .


This is what has been told on HC

 

[Stan 101]

I'm very impressed with CBH holding up it's share price in the last day and a half of trading. Last week it closed on highs.

Alsthough I did start selling down CBH last week and snatched 59 cents late last week, I still do have a fair holding in this share.

I did actually think the share would retrace and I'd have an opportunity to buy back in at low 50's but I'm very happy it it continues to rise..


Cheers,

 

[UMike]

I'm very impressed with CBH holding up it's share price in the last day and a half of trading. Last week it closed on highs.

Alsthough I did start selling down CBH last week and snatched 59 cents late last week, I still do have a fair holding in this share.

I did actually think the share would retrace and I'd have an opportunity to buy back in at low 50's but I'm very happy it it continues to rise..


Cheers,

I have the same strategy as yourself with CBH.

Sold about a 1/4 last week at 59c


Thought I'd missed the boat getting them at 57c but just got 'em now.

Hopefully it is onwards from now on

 

[michael_selway]

I have the same strategy as yourself with CBH.

Sold about a 1/4 last week at 59c


Thought I'd missed the boat getting them at 57c but just got 'em now.

Hopefully it is onwards from now on

Its holding well

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 4.7 8.6 6.7 4.3
DPS 0.0 0.0 0.0 1.5

thx

MS

 

[Stan 101]

Umike, yes I'll be looking to buy in a little lower than 57cents...
I've traded this share so many times my accountant loses track, never mind me .
I'm still in the long haul for this share but I do get frustrated at times.. I've held for 6 months and got nothing out of it, so back into trading mode for me...


all the best with it..

 

[UMike]

Been in and out a few times now.

Sold about a quarter of my holdings at 59c in the jump to 61.5c

Any reason for the huge leap so quick in the middle of the trading day?

 

[alankew]

Rumours going around that CBH is being lined up for a takeover perhaps or maybe just being dragged up in the BHP/RIO/ZFX thing.Even with the price of Zinc going down atm this is going against the trend.Looks to have broken out yesterday and can see it going up to next resistance of around 68.5 then 71

 

[gfresh]

Here is a recent chart, showing clear trend channel since mid-September or so.

Next major intersection would be recent high of 67.5c set pre-correction (top orange). This looks to be reached mid-December. Possible may be reached as early as 2 weeks time with takeover rumours, and strong last 2 days last week.

Middle orange line shows average price from about April-August this year of 58c.

MACD also shows positive crossover of signal above 0 line, bullish signal.

 

[michael_selway]

Rumours going around that CBH is being lined up for a takeover perhaps or maybe just being dragged up in the BHP/RIO/ZFX thing.Even with the price of Zinc going down atm this is going against the trend.Looks to have broken out yesterday and can see it going up to next resistance of around 68.5 then 71

Wow who is rumoured to takeover CBH?

thx

MS

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 4.7 8.6 6.7 4.3
DPS 0.0 0.0 0.0 1.5

Date: 13/11/2007
Author: Michael Vaughan
Source: The Australian Financial Review --- Page: 19
The board of Australian miner, CBH Resources, is divided by the actions of itsJapanese shareholder. Toho Zinc is the major investor with a 25.8 per centstake, and has two representatives on the board. Toho tried to gain control ofthe board at a meeting on 9 November 2007. A resolution to remove chair JimWall, who had the casting vote, failed. Two more people were appointed to theboard. CBH will appoint a corporate adviser

 

[sleeper88]

Toho readies for CBH takeover

Toho Zinc Company looks poised to take over CBH Resources Limited following a meeting of directors on Friday. Resolutions voted on by the board include that a corporate advisor should be engaged by the company to examine issues relating to control and ownership.
Chairman, Jim Wall said that recent events to remove him as chairman holding a casting vote amount to an attempt by directors alighted with Toho to control the CBH board.

"This is not in the best interests of all shareholders, particularly at a time when Toho is seeking access to concentrates from CBH's Panorama and Broken Hill Projects," Mr Wall said.

"It is a fundamental principle of corporate governance that the company be managed for the benefit of all shareholders, and the majority of directors have taken proper steps to ensure this principle is upheld."

Toho currently has a 25.8% shareholding in CBH.

The company also determined that Robert Willcocks should no longer be considered an independent director of CBH, in light of his association with Toho.

In an announcement to the ASX, CBH indicated that the view has been expressed to the directors associated with Toho that, if Toho wishes to seek control of the CBH board, then it should bid for the shares in the company held by all other shareholders.

A resolution to remove Mr Wall from the position of chairman was not approved.

The company said Mr Wall will cease his executive role at CBH February 4, 2008 but will remain as chairman, as foreshadowed at the AGM held on November 5 2007.

This is part of an ongoing succession process which will see both Mr Wall and Managing Director, Bob Besley hand over executive responsibilities to a new team led by recently appointed CEO, Stephen Dennis.

The board has now also formed a nominations committee, which is tasked to identify and recommend candidates for appointment as independent directors.

http://money.ninemsn.com.au/article.aspx?id=321944

 

[porkpie324]

Yes I read the ninemsm article too, I hope this not going to be another Consmin farce with directors having a boot in each camp, porkpie

 

[UMike]

I sold out of this taking the profits that I had already made.

Will be happy to buy back in if it drops a bit Monday.

 

[michael_selway]

I sold out of this taking the profits that I had already made.

Will be happy to buy back in if it drops a bit Monday.

Yeahtiem to sell one woudl think

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 4.7 8.6 6.7 4.3
DPS 0.0 0.0 0.0 1.5

thx

MS

Date: 13/11/2007
Author: Michael Vaughan
Source: The Australian Financial Review --- Page: 19
The board of Australian miner, CBH Resources, is divided by the actions of itsJapanese shareholder. Toho Zinc is the major investor with a 25.8 per centstake, and has two representatives on the board. Toho tried to gain control ofthe board at a meeting on 9 November 2007. A resolution to remove chair JimWall, who had the casting vote, failed. Two more people were appointed to theboard. CBH will appoint a corporate adviser

 

[UMike]

Zinc and Lead are being knocked down again tonight.

I can't see how CBH and/or other Zincers can maintain upward trend in thier SP as the current metal prices slide.

 

[Stan 101]

Umike, I know what you mean abot reversing the trend, but CBH has been doing it for a few weeks now. This is getting close to it's best run in some time.

Michael S, I know what you mean about the management, but again that is now old news and the price keeps rising and more importantly it is holding with good quantity in trade.

It's going to be tricky to decide on this one..

 

[nomore4s]

Umike, I know what you mean abot reversing the trend, but CBH has been doing it for a few weeks now. This is getting close to it's best run in some time.

Michael S, I know what you mean about the management, but again that is now old news and the price keeps rising and more importantly it is holding with good quantity in trade.

It's going to be tricky to decide on this one..

From a pure T/A view, this is looking very strong atm. Looks to be in a good uptrend over the last 2 or 3 months breaking a couple of resistance points. Most of the reactions have held the 50% retracement lines (blue for minor rallies and red for the major rallies marked 1,2,3) which is a sign of the strength of the current trend.
Although I'm now expecting a bit of a pullback in the next few days with the sp breaking through the upper trendline (yellow trend channel), how it reacts on the next pullback will provide a few more clues on the chances of an on going trend. If it does pullback and holds the 58c-60c (the blue and red 50% retracements) area on reducing volume it will be a good sign.
The pink trend channel are reverse trendlines - maybe not exactly correct in use but.... - which maybe showing an increase in the speed of the trend, how the sp reacts off the bottom line if it does fall back that far could be telling, as this should coincide with the 58c-60c area.

My view for discussion only, and I tend to be wrong alot :
I hold, good luck to all.

 

[UMike]

From a pure T/A view, this is looking very strong atm. Looks to be in a good uptrend over the last 2 or 3 months breaking a couple of resistance points. Most of the reactions have held the 50% retracement lines (blue for minor rallies and red for the major rallies marked 1,2,3) which is a sign of the strength of the current trend.
Although I'm now expecting a bit of a pullback in the next few days with the sp breaking through the upper trendline (yellow trend channel), how it reacts on the next pullback will provide a few more clues on the chances of an on going trend. If it does pullback and holds the 58c-60c (the blue and red 50% retracements) area on reducing volume it will be a good sign.
The pink trend channel are reverse trendlines - maybe not exactly correct in use but.... - which maybe showing an increase in the speed of the trend, how the sp reacts off the bottom line if it does fall back that far could be telling, as this should coincide with the 58c-60c area.

My view for discussion only, and I tend to be wrong alot :
I hold, good luck to all.

It's hard to work with trends when the Price of Lead and Zinc fall 8% Overnight

I hope the commodity trend goes back to the CBH one.

Hope to re-enter CBH at around 57.5c

 

[nomore4s]

The current trend continues to look strong for CBH from a T/A perspective.

Price dropped through the bottom of the revese trendlines but reversed back through it very quickly. But it has also held the normal trendlines from the start of the current uptrend from the 16.08.07, and also hasn't come anywhere near the 50% retracement of the 2nd major rally (pink).

The last two bars show some signs of supply around the 61c level after filling the gap left from the gap down on the 22.08.07.
I think the 65c level will be an important level for CBH to get through and hold, especially on the weekly chart.