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AET - Ausmelt Limited

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Ausmelt continue to move from strength to strength. News of the agreement with Metala Xpl; the copper smelter in Namibia; licensing agreement with Korea Zinc; Bolivian Contract and 3rd stage, new tin smelter in Bolivia; Brazil Lead Project; and so it goes on and on: http://www.ausmelt.com.au/home.htm
 
Ausmelt have fallen back about 20% in the last week or so and this is despite the impressive report at the Micro Cap Conference and a further contract in Asia.
Everything is going well for AET and their interest of 5% in S.A.S.E. is always overlooked. They will receive their share of $1 per tonne of all future Iron Ore production, by WPG, from the massive Hawks Nest tenement in S.A.
Production should start during 2009 and there is an inferred resource of around 800 million tonnes.
Other holders in S.A.S.E. are Felix Resources (90%) and Krakatau Steel (5%).
 
noirua said:
Ausmelt have fallen back about 20% in the last week or so and this is despite the impressive report at the Micro Cap Conference and a further contract in Asia.
Everything is going well for AET and their interest of 5% in S.A.S.E. is always overlooked. They will receive their share of $1 per tonne of all future Iron Ore production, by WPG, from the massive Hawks Nest tenement in S.A.
Production should start during 2009 and there is an inferred resource of around 800 million tonnes.
Other holders in S.A.S.E. are Felix Resources (90%) and Krakatau Steel (5%).
Click to expand...
As Western Plains Resources continue drilling at their iron ore tenement at Hawks Nest, S.A. with plans to mine 2 million tonnes per annum, AET will then get Annual Royalties, through their 5% share of S.A.S.E., of A$100,000 per annum.
This is not a large sum by any means but WPG hope to double this output in due course and will help Ausmelt continue in their drive for steady earnings.
 
Ausmelt is back on my watchlist.

It is starting to look inexpensive, noirua.
Need to study the company re: future dividends.
 
Noirua.

Did you see the takoever offer announced today. No details were provided.

I have to admit I still don't own any and was shocked when I saw the present price. If there is a takeover offer it would surely be multiples of the presnt price. Have you an opinion?

Knobby
 
Knobby22 said:
Noirua.

Did you see the takoever offer announced today. No details were provided.

I have to admit I still don't own any and was shocked when I saw the present price. If there is a takeover offer it would surely be multiples of the presnt price. Have you an opinion?

Knobby
Click to expand...

The upgrade to a lead up off-market agreed bid is now 80c - 90c. This type of bid takes a longtime and may be put to FIRB for a decision. Only a small company but their technology is personal and unique to them, and markets are still a bit unsure of the eventual outcome.
 
noirua said:
The upgrade to a lead up off-market agreed bid is now 80c - 90c. This type of bid takes a longtime and may be put to FIRB for a decision. Only a small company but their technology is personal and unique to them, and markets are still a bit unsure of the eventual outcome.
Click to expand...

What a takeover battle developing. There are multiple bids in the past 48 hours.

85c Outotec
$1 Unknown bidder
$1 Outotec (matching)
$1.25 Outotec (outbidding themselves)
$1.35 Tenova S.A.
$1.35 Outotec (matching)
$1.45 Xiyang Group (off market, conditional)

Can it go any higher? Plenty of action above $1.45 today.

I bought them at 93c when the first unknow bidder emerged, sold half at $1.05 when Outotec made the matching $1 offer, and left the other half at $1.2 as my bracket order, thinking it was a safe distance...

Then stupid Outotec made on market $1.25 bid without any announcement. So that took out my other half as well. UNBELIEVABLE. :banghead: :banghead:
 

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