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Any guesses on why the sudden trading halt?
There were sellers at 1.50 this moring
There were sellers at 1.50 this moring
PMM - Portman Limited
- Thread starter Gordon Gecko
- Start date
-
- Tags
- pmm portman limited
GreatPig
Pigs In Space
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Re: PMM - Any ideas
Gordon,
Here's the ASX statement.
I would have copy & pasted in the text except they've done it as a graphic.
Cheers,
GP
Gordon,
Here's the ASX statement.
I would have copy & pasted in the text except they've done it as a graphic.
Cheers,
GP
GreatPig
Pigs In Space
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Re: PMM - Any ideas
There have also been rumours of a merger between Consolidated Minerals and Portman Mining, so it may be related to that.
GP
There have also been rumours of a merger between Consolidated Minerals and Portman Mining, so it may be related to that.
GP
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Re: PMM - Any ideas
I know they bought about 14% of CSM. But would expect CSM to also have trade halted if there was to be a merger? Barry did state in a recent interview that it was not being considered.
The buyers and sellers don't seem to be pushing the price in any direction so whatever the announcement is is has been kept quiet very well, not usual for the Australian market.
They had cash at the end of June so don't think it will be a placement but have been stung thinking that before.
The feasibility study was due to be completed in October so it may have been completed earlier and found an anomaly. But it is all guess work.
I know they bought about 14% of CSM. But would expect CSM to also have trade halted if there was to be a merger? Barry did state in a recent interview that it was not being considered.
The buyers and sellers don't seem to be pushing the price in any direction so whatever the announcement is is has been kept quiet very well, not usual for the Australian market.
They had cash at the end of June so don't think it will be a placement but have been stung thinking that before.
The feasibility study was due to be completed in October so it may have been completed earlier and found an anomaly. But it is all guess work.
RichKid
PlanYourTrade > TradeYourPlan
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Re: PMM - Any ideas
A great article on Portman and the recent falling out, explains a lot about self-interest and the goings on in takeovers: http://www.smh.com.au/news/Alan-Koh...e-iron-ores-not/2005/03/01/1109546872373.html
A great article on Portman and the recent falling out, explains a lot about self-interest and the goings on in takeovers: http://www.smh.com.au/news/Alan-Koh...e-iron-ores-not/2005/03/01/1109546872373.html
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Re: PMM - Any ideas
Looking very good at the moment.:bowser:
1. 30% Increase in production going to schedule for 2006.
2. UBS spruiking a 10% hike in the price of iron ore
3. Iron Ore will be the profit centre for the mining industry (UBS, again)
4. PMM controlled by US pellet producer Cleveland Cliffs, which gives PMM access to US markets, in addition to current China deals.
Currently trading on it's 52 week high, of 4.61
Looking very good at the moment.:bowser:
1. 30% Increase in production going to schedule for 2006.
2. UBS spruiking a 10% hike in the price of iron ore
3. Iron Ore will be the profit centre for the mining industry (UBS, again)
4. PMM controlled by US pellet producer Cleveland Cliffs, which gives PMM access to US markets, in addition to current China deals.
Currently trading on it's 52 week high, of 4.61
Kipp
Lord of the Ledgers
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PMM is looking pretty good value to me atm. EPS of 17.2 cents for the QTR, and looking pretty close ot hitting the ellusive produciton target of 8mta for FY07. So assuming they maintain production levels... EPS of 68c for the year, PE ~7.2x Of course. with a 10% increase in Fe prices next year (as negioated by CVRD) oculd well be higher than that...
What is bugging me though is that a) there is no annual report for FY06 on their wbsite- which strcuk me as kinda odd.
& b) there is no reference made to their mining reserves. 7x PE ratio is not great if they have a mine life of 4 years at Koolyanoobing.
No posts in 15 months, I can't imagine that too many holders out ther in the ASF.
What is bugging me though is that a) there is no annual report for FY06 on their wbsite- which strcuk me as kinda odd.
& b) there is no reference made to their mining reserves. 7x PE ratio is not great if they have a mine life of 4 years at Koolyanoobing.
No posts in 15 months, I can't imagine that too many holders out ther in the ASF.
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Etrade said it could be taken over soon by Cleveland for the rest of stocks.Kipp said:
Kipp
Lord of the Ledgers
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Haha... look how much sweeter stocks sail when I don't tip them in the comp!!! PMM was my pick for Jan & Mar... nada.
Has broken out pretty sweetly from its 12mth downtrend. Reasonable QTRly- increased revenue was partially offset by increases COGS, but ultimately still increase of Sales margin.
Production at Koolyanobbing still a touch shy of 8Mtpa (1.77Mt for the QTR is getting pretty close though...) $133 mill the bank- time to pay a dividend you tightwads!
Has broken out pretty sweetly from its 12mth downtrend. Reasonable QTRly- increased revenue was partially offset by increases COGS, but ultimately still increase of Sales margin.
Production at Koolyanobbing still a touch shy of 8Mtpa (1.77Mt for the QTR is getting pretty close though...) $133 mill the bank- time to pay a dividend you tightwads!
Attachments
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wow talk about a perfect uptrend, almost $10 now and barely any reds
wtsaojgpaojgposajg @ short message
wtsaojgpaojgposajg @ short message
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yeah what a chart!!
Thats unreal. Ive not seen one like that before!!
Would have been great to pick that at the start!
Thats unreal. Ive not seen one like that before!!
Would have been great to pick that at the start!
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Anyone any idea of the real significance of the Polaris announcement today saying that PMM have no longer any mining rights on their tenements?
Got to think that if the rights were that important/ commercially viable wouldn't PMM have exercised them by now?
Any thoughts?
Got to think that if the rights were that important/ commercially viable wouldn't PMM have exercised them by now?
Any thoughts?
Garpal Gumnut
Ross Island Hotel
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Re: PMM -Portman Mining
I've had Portman for a fair while, added here n there.
Technically they look as if they could be about to commence a major move up again.
They rose from their recent trading range of about $4.50-$5 in March to a high of $12 in July , retraced approx 62% from the high of $12 in July/Aug to about $7 They are now testing their high again of $12.
The latest slump in August may have been the end of a wave 2 and if they keep on going $20 is not out of the question.
They are tightly held, Cleveland Cliffs and AMP a blocking holding, and us two!!\\
Enclosed a chart
Garpal
I've had Portman for a fair while, added here n there.
Technically they look as if they could be about to commence a major move up again.
They rose from their recent trading range of about $4.50-$5 in March to a high of $12 in July , retraced approx 62% from the high of $12 in July/Aug to about $7 They are now testing their high again of $12.
The latest slump in August may have been the end of a wave 2 and if they keep on going $20 is not out of the question.
They are tightly held, Cleveland Cliffs and AMP a blocking holding, and us two!!\\
Enclosed a chart
Garpal
Attachments
michael_selway
Coal & Phosphate, thats it!
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Re: PMM -Portman Mining
Its got good forecast growth, but do you know why it doesn't have any dividends despite it being profitable?
Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 65.7 63.9 104.5 132.0
DPS 0.0 0.0 0.0 0.0
thx
MS
Its got good forecast growth, but do you know why it doesn't have any dividends despite it being profitable?
Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 65.7 63.9 104.5 132.0
DPS 0.0 0.0 0.0 0.0
thx
MS
Garpal Gumnut
Ross Island Hotel
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Re: PMM -Portman Mining
They paid a good div until Cleveland Cliffs tried to take em over. CC are an iron ore/steel company in the US.They only received about 80-85% acceptances. AMP took a blocking stake. I didn't take up their offer at the time. It was when iron ore was out of fashion, BHP etc were about $20 or under.
Now that they have majority control there is no point in giving a div as it will only encourage folk to stay in the stock.
I feel recent action could be related to a better offer coming from CC for PMM.
As long as AMP stay with their blocking stake CC cannot mop up the rest of us.
Garpal
They paid a good div until Cleveland Cliffs tried to take em over. CC are an iron ore/steel company in the US.They only received about 80-85% acceptances. AMP took a blocking stake. I didn't take up their offer at the time. It was when iron ore was out of fashion, BHP etc were about $20 or under.
Now that they have majority control there is no point in giving a div as it will only encourage folk to stay in the stock.
I feel recent action could be related to a better offer coming from CC for PMM.
As long as AMP stay with their blocking stake CC cannot mop up the rest of us.
Garpal
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Its been on a nice role now, with the bulls stronger than the bears over each of the last 8 consecutive days! However, volume appears to be falling, perhaps its little run is about to finish.........
Still, great growth potential and strong return on equity.
Any thoughts on this one lately?
Still, great growth potential and strong return on equity.
Any thoughts on this one lately?
