ZFX - Zinifex Limited
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Nyden
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Perhaps I'm missing something? Zinc has been way up last couple of days, there was no 4% drop? There was a 4% gain.
Nyden
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I don't care if the dow drops 400 pts, if we don't see a considerable gain today, there's just no justice!
Zinc's up nearly 10% last few days, with 4% being from last night alone. Heck, all base metals are.
Zinc's up nearly 10% last few days, with 4% being from last night alone. Heck, all base metals are.
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must be on dofferent timezones Nyden but back in phase today with Zn up 4% last night
previous drop pulled zincies down yesterday firmly onto major teck support line so I expect bounce off that line today and will be looking to daytrade PEM ZFX and maybe BHP north
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hopped on ZFX after open (but short not long)
other two left alone but seems still negative pressure
PEM still threatening to break 2.50 support - will hop on if it does
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wouldn't be helping zincies to rise:
"Chennai, Dec. 30 Global zinc prices are forecast to drop by 45 per cent next year and average around $1,780 a tonne. The projection, made by Australia’s independent government economic research agency Abare, has been made on the expectations that new supply will come on line and stocks will recover as production exceeds consumption."
"Zinc price, which had run to a record $4,260 a tonne earlier this year, was quoted at $2,440 during the weekend."
full article: http://www.thehindubusinessline.com/...3150670700.htm
"Chennai, Dec. 30 Global zinc prices are forecast to drop by 45 per cent next year and average around $1,780 a tonne. The projection, made by Australia’s independent government economic research agency Abare, has been made on the expectations that new supply will come on line and stocks will recover as production exceeds consumption."
"Zinc price, which had run to a record $4,260 a tonne earlier this year, was quoted at $2,440 during the weekend."
full article: http://www.thehindubusinessline.com/...3150670700.htm
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http://au.news.yahoo.com/071216/2/15a7t.html
Sunday January 6, 03:08 PM
Avebury needs huge funding: Zinifex
Zinc miner Zinifex Ltd says Allegiance Mining NL's flagship project in Tasmania will require significant funding to realise its full potential, calling on the nickel hopeful's shareholders to accept a takeover offer.
The zinc miner has launched a two tiered all-cash takeover bid for Allegiance, valued at up to $745 million.
Zinifex chief executive officer elect Andrew Michelmore said the company's offer was compelling and provided Allegiance shareholders with "an immediate opportunity to realise a substantial all-cash premium for their investment".
"We also recognise that substantial additional investment will be needed to ensure that the full potential of the Avebury nickel project is realised," Mr Michelmore said in a statement.
The Avebury nickel project in Tasmania is near Zinifex's Rosebury zinc mine and is expected to produce about 8,500 tonnes of nickel in concentrate annually when it comes online early this year.
Allegiance chairman Tony Howland-Rose described the bid as unsolicited and opportunistic on Friday, and urged the company's shareholders to take no action until the offer is reviewed.
Zinifex has launched an all-cash offer of 90 cents for each Allegiance share and pledged to increase the bid to $1.00 a share if the company acquires more than 30 per cent of its target, or gains board approval.
At 90 cents a share, the deal is valued at $697.44 million, increasing to $744.93 million when the bid is lifted to $1.00 per share.
Sunday January 6, 03:08 PM
Avebury needs huge funding: Zinifex
Zinc miner Zinifex Ltd says Allegiance Mining NL's flagship project in Tasmania will require significant funding to realise its full potential, calling on the nickel hopeful's shareholders to accept a takeover offer.
The zinc miner has launched a two tiered all-cash takeover bid for Allegiance, valued at up to $745 million.
Zinifex chief executive officer elect Andrew Michelmore said the company's offer was compelling and provided Allegiance shareholders with "an immediate opportunity to realise a substantial all-cash premium for their investment".
"We also recognise that substantial additional investment will be needed to ensure that the full potential of the Avebury nickel project is realised," Mr Michelmore said in a statement.
The Avebury nickel project in Tasmania is near Zinifex's Rosebury zinc mine and is expected to produce about 8,500 tonnes of nickel in concentrate annually when it comes online early this year.
Allegiance chairman Tony Howland-Rose described the bid as unsolicited and opportunistic on Friday, and urged the company's shareholders to take no action until the offer is reviewed.
Zinifex has launched an all-cash offer of 90 cents for each Allegiance share and pledged to increase the bid to $1.00 a share if the company acquires more than 30 per cent of its target, or gains board approval.
At 90 cents a share, the deal is valued at $697.44 million, increasing to $744.93 million when the bid is lifted to $1.00 per share.
Yes, Adobee, I have already read this article at about 20 pm CET...
Well, Why did Andrew Michelmore say this? Maybe ZFX would like to urge ALLEGIANCE Mining's 's shareholders to change their Allegience shares to ZFX' shares...have you got frsh news, roumors how the takover is?
And, I think there will be a terrible day for ASX and, of course, ZFX tomorrow (today morning for you). At Friday I waited the end of the large drop, but it wasn't come.
Well, I think when I will check my portfolio at tomorrow morning, I will find only ruins...
Well, Why did Andrew Michelmore say this? Maybe ZFX would like to urge ALLEGIANCE Mining's 's shareholders to change their Allegience shares to ZFX' shares...have you got frsh news, roumors how the takover is?
And, I think there will be a terrible day for ASX and, of course, ZFX tomorrow (today morning for you). At Friday I waited the end of the large drop, but it wasn't come.
Well, I think when I will check my portfolio at tomorrow morning, I will find only ruins...
Nyden
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The problem is, this doesn't really help to motivate AGM holders into selling. All this does is continue the message of profit-taking, & calling it a day.
I'm sure not all holders have the mindset of 5+ years, & once AGM make a darn formal decision already (how long does that take? Either say yes, or no - not "do nothing until we decide") ZFX can make their next move.
So, who's ready for yet another drop today on the roller coaster down!
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mmmm, anyone hazard a guess at ZFX's bottom today? Lucky Zinifex has a difficult stock code - otherwise I'd be making some words of disgust out of ZFX
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last daily zinc move up 4%
ZFX today down 6%
downtrend rules:
---------------------
Commodities Prices
Last updated at 15:24 Sydney Time, Mon, 07 Jan 2008
Precious Metals
Commodity Value Change % Change
Silver US$/oz 15.19 -0.06 -0.3934
Platinum US $/oz 1539.1 -2.7 -0.1751
Gold US$/oz 857 -2.6 -0.3025
Base Metals
Commodity Value Change % Change
Copper US$/t 6990.5 225.5 3.3333
Aluminium US$/t 2447 25 1.0322
Nickel US$/t 29515 1410 5.0169
Lead US$/t 2665 72 2.7767
Zinc US$/t 2563 97 3.9335
WTI Oil US$/bl 97.9 -1.27 -1.2806
Tin US$/t 16550 195 1.1923
ZFX today down 6%
downtrend rules:
---------------------
Commodities Prices
Last updated at 15:24 Sydney Time, Mon, 07 Jan 2008
Precious Metals
Commodity Value Change % Change
Silver US$/oz 15.19 -0.06 -0.3934
Platinum US $/oz 1539.1 -2.7 -0.1751
Gold US$/oz 857 -2.6 -0.3025
Base Metals
Commodity Value Change % Change
Copper US$/t 6990.5 225.5 3.3333
Aluminium US$/t 2447 25 1.0322
Nickel US$/t 29515 1410 5.0169
Lead US$/t 2665 72 2.7767
Zinc US$/t 2563 97 3.9335
WTI Oil US$/bl 97.9 -1.27 -1.2806
Tin US$/t 16550 195 1.1923
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oh well, against my better judgement, I got some more at $11.30. Have to do something about my horrible average on Zinifex - will be holding for dividend returns.
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maybe I should say, with my judgement - since I am thinking it's a bargain. $10.50 is my next target. At least they are getting easier to buy with the SP falling.....
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Good call.. the way this is going you I and I think Nyden may be the new top shareholders and directors for this company !
Nyden
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Errr...am I right in reading that you want the share price to tank?
At this price I sure as heck expect that dividend (unfortunately). The price has gotten itself to a point where older / existing holders are expecting that dividend just to recoup the losses! This darn stock just keeps breaking it's 52 week lows
I too want a ZFX with a much smaller dividend, but only if we get back to more respectable price levels...say, $16-ish.
I'm depending on these dividends to pay the stock off, you see.
Ha, I'm not doing in too deep into ZFX adobee. No matter how much I believe it to be relatively cheap, it's still very much stuck in a downtrend. I'll be buying more, of course - but, not at the moment. I'm stalling for time
A property stock?? Yes, because property exposure has just been so rewarding in the market lately! CNP springs to mind, what was their downfall? Starts with a P...is there a smiley for hysterical laughing?
:I'd love for them to buy OXR. OXR is my largest holding...and a big fat juicy premium is just the thing my portfolio needs at the moment.
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Errr...am I right in reading that you want the share price to tank?
At this price I sure as heck expect that dividend (unfortunately). The price has gotten itself to a point where older / existing holders are expecting that dividend just to recoup the losses! This darn stock just keeps breaking it's 52 week lows
I too want a ZFX with a much smaller dividend, but only if we get back to more respectable price levels...say, $16-ish.
I'm depending on these dividends to pay the stock off, you see.
Ha, I'm not doing in too deep into ZFX adobee. No matter how much I believe it to be relatively cheap, it's still very much stuck in a downtrend. I'll be buying more, of course - but, not at the moment. I'm stalling for time
A property stock?? Yes, because property exposure has just been so rewarding in the market lately! CNP springs to mind, what was their downfall? Starts with a P...is there a smiley for hysterical laughing?
I'd love for them to buy OXR. OXR is my largest holding...and a big fat juicy premium is just the thing my portfolio needs at the moment.
I suspect the analysts continuing to revise ZFX earnings for 08 and 09 down has a lot to do with current market sentiment
and agree whether to maintain the 70c div each half must be a dilemma for them and shareholders - if they pay that it would tend to tank the shareprice a similar amount - a least in the short term
A lot aren't waiting to find out what the divvy will be
Well if ZFX tanks I can buy more.
I'd rather buy another 5000 at $8 than 5000 @ $11.35.
Just because a stock is in a downtrend does not mean it will not come out of one.
For those who care. My opinion is the harder a stock runs the harder it falls, and the harder the next run is going to be..... this may just be the nature of ZFX.
Surely long term holders from day 1 would have experience the exact same downtrend as we see today at some point.....
ZFX may very well diversify into copper, and iron ore, and lead, and maybe even gold.
Zinc has given them the opportunity to become diverisified, if I am not mistaken this is how they all start???
As long as China keeps booming, the demand for minerals is going to be high, and companies like ZFX are going to exploit that. This does not mean the stock price is not allowed to have a downtrend.... does it?
There is global uncertainty. Maybe hedge funds are getting out of ZFX?
Maybe it was overpriced?
I'd rather buy another 5000 at $8 than 5000 @ $11.35.
Just because a stock is in a downtrend does not mean it will not come out of one.
For those who care. My opinion is the harder a stock runs the harder it falls, and the harder the next run is going to be..... this may just be the nature of ZFX.
Surely long term holders from day 1 would have experience the exact same downtrend as we see today at some point.....
ZFX may very well diversify into copper, and iron ore, and lead, and maybe even gold.
Zinc has given them the opportunity to become diverisified, if I am not mistaken this is how they all start???
As long as China keeps booming, the demand for minerals is going to be high, and companies like ZFX are going to exploit that. This does not mean the stock price is not allowed to have a downtrend.... does it?
There is global uncertainty. Maybe hedge funds are getting out of ZFX?
Maybe it was overpriced?
Nyden
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To state the absolute obvious ~
I believe one of the main reasons the price of ZFX has fallen so hard, is simply the fact of the price of Zinc basically being cut in half this year. Which stands to reason for the price to decline as well.
The market does not seem to let the P/E ratio of ZFX exceed 6; my guess is; that's all the risk we're willing to place on it whilst it's only a Zinc play. It is my hope that once it becomes more diversified, the market will slap a greater premium on the share price, and we'll start to see a P/E ratio more comparable to other miners.
There is risk in Zinifex, despite all the prospects. A spec has prospects, yet isn't anywhere near valued to that respect. Same scenario here. Current mines have a relatively short life left, bunch of explorations, looking for acquisitions, ZFX is basically a cashed-up spec with infrastructure
: A whole lot of unknowns. The market doesn't like 'em. Well, sure it would be nice to buy at $8, but what about your existing holding? They'd have declined so majorly at that point. It's easy to say you have a long-term view, but should you need emergency funds at one point or another in the not-to-distant future, or if the markets continue to deteriorate, would be awful to sell shares at a 50+% loss.
& I certainly hope ZFX recovers hard tomorrow! Although, I doubt we'll even see 3-4%, little alone the 7 that was wiped clear today
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Hello everyone, first time posting, love the forum.
With all the talk of dividends and price floors (whether that has any relevance to this share) going on, are we sidetracked by yet another possible?
What about all this talk of takeovers? News came out the other day that Zinifex is one of the more likely takeover targets for 2008.
"...According to Jo Clarke in today's Financial Review to the top eight takeover targets for 2008 are:
1. Oxiana: base and precious metals in Australia and Laos
2. Zinifex: zinc and lead mining in Australia
3. Lihir Gold (ASX:LGL): Gold in PNG and Australia
4. Albidon (ASX:ALB): nickel in Australia
5. Western Areas (ASX:WSA): nickel in Australia
6. Equinox (ASX:EQN): copper in Zambia
7. CBH Resources (ASX:CBH): zinc and lead in Australia
8. Andean Resources (ASX:AND): gold in South America...",Dan Denning (http://www.bitsofnews.com/content/view/6646/)
In a time of many companies finding growth through consolidation whats the chances of the predator becoming the prey? And what value would you place on ZFX.
If i got a half decent offer you can be sure I'd sell.
With all the talk of dividends and price floors (whether that has any relevance to this share) going on, are we sidetracked by yet another possible?
What about all this talk of takeovers? News came out the other day that Zinifex is one of the more likely takeover targets for 2008.
"...According to Jo Clarke in today's Financial Review to the top eight takeover targets for 2008 are:
1. Oxiana: base and precious metals in Australia and Laos
2. Zinifex: zinc and lead mining in Australia
3. Lihir Gold (ASX:LGL): Gold in PNG and Australia
4. Albidon (ASX:ALB): nickel in Australia
5. Western Areas (ASX:WSA): nickel in Australia
6. Equinox (ASX:EQN): copper in Zambia
7. CBH Resources (ASX:CBH): zinc and lead in Australia
8. Andean Resources (ASX:AND): gold in South America...",Dan Denning (http://www.bitsofnews.com/content/view/6646/)
In a time of many companies finding growth through consolidation whats the chances of the predator becoming the prey? And what value would you place on ZFX.
If i got a half decent offer you can be sure I'd sell.
