Australian (ASX) Stock Market Forum

CXC - Coeur d'Alene Mines Corporation

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Thanks oldblue for your thoughts I have been watching these get hammered all week. Every day was down like 7% on no news.

Don't seem to have any resistance!!!

Free fall in a space of a week of trading from 20.50 all the way to 13.50 which was around it's close yesterday surely it has to find support somewhere!!! :confused:
 
Better news for Coeur with the US Supreme Court confirming approval for their Kensington gold mine in Alaska.
Coeur say that this has potential to increase the company's annual gold production by 135%!

CXC shareprice doing well today in a soggy market.
 
Announcement out today:

"COEUR STRENGTHENS BALANCE SHEET THROUGH SUCCESSFUL DEBT REDUCTION PROGRAM"

"COEUR D'ALENE, Idaho - July 2, 2009 - Coeur d'Alene Mines Corporation provided an update today on its debt reduction program. During the first half of 2009, the Company reduced its convertible debt by over $150 million, or approximately 37%."

"The company will provide a full financial update when it reports its 2nd Quarter 2009 operating results on August 6th,2009."
 
adds said:
Announcement out today:

"COEUR STRENGTHENS BALANCE SHEET THROUGH SUCCESSFUL DEBT REDUCTION PROGRAM"

"COEUR D'ALENE, Idaho - July 2, 2009 - Coeur d'Alene Mines Corporation provided an update today on its debt reduction program. During the first half of 2009, the Company reduced its convertible debt by over $150 million, or approximately 37%."

"The company will provide a full financial update when it reports its 2nd Quarter 2009 operating results on August 6th,2009."
Click to expand...

A pretty impressive performance although you'd never know it if you looked at the SP.

The increased production from the new and expanded mines, together with a firm PoS, is starting to show up, in the B/S at least.
 
CXC - Delisting from OZ

Hi all investors.
I believe I am out of my depth with the current situation that CXC has put itself in.

It will be delisting from the ASX in December due to it only have 4.9% of its shares in OZ.

The options I have is sell them on market, let CXC sell them, or get common shares... which are tradeable on the NYSX.

I have held this stock for 4 years. It's my only silver stock. I invested in CXC in the hope it would both capture the silver price growth ( which I had been advised would occur), and inevitable QE that will soon occur in the U.S.
It is 15% of my entire portfolio.

I am after idea's, on what others think of my options.
I have already made a profit so not complaining.

I wonder if the share price will go up, or down with this recent news? So far it has been rising... but I am guessing that is because of the silver price.
Could it also possibly be because investors would want common stock?

Well. Just wanted to get as many idea's as possible on what I could do.
Cheers for any feedback.
 
Yes, it's a difficult one!

I'm a holder and my first reaction would be to take advantage of the current strong PoS and get rid of them between now and end of ASX trading, or at least before the end of the Share Sale Facility in February. Mainly because I don't want to be left with a relatively small US holding that I would need to ultimately sell on the NYSE, with attendant cost and "inconvenience".

At the same time I'm reluctant to sell while the PoS remains firm and while demand for the CDI's continues. So, in short, it's a case of watching and awaiting developments at this stage.

I'd also appreciate other views on this issue.
 
For some reason, this stock has been out of my redar and i just found it now. I also want to know how it works if I get in today and how do i sell it in NYSX and what the transaction cost will be
 
There's been some fairly detailed ASX announcements from CXC in the last couple of months on the timing etc for the delisting. Suggest you read up on these.

As for costs of trading on the NYSE this will come down to your relationship with your broker but I wouldn't expect it to be too much of a bargain. If it's a possibility that you may need to use the facility I'd be inclined to check first before getting involved with CXC. Meanwhile, trading in CXC should be " as usual" until they are de-listed.
 
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