What announcement are you referring to. The only one I have seen is one from Zinifex which is full of bluff and won't sway me. I have been asking why ZFX hasn't made a bid for SMY when their (SMY) market cap is less than AGM. Is it because they see the potential in AGM that AGM holders see and more potential than SMY.
ZFX - Zinifex Limited
- Thread starter chicken
- Start date
-
- Tags
- zfx zinifex limited
- Joined
- 28 September 2007
- Posts
- 1,472
- Reactions
- 8
I was referring to the latest AGM announcement (last 10 minutes). I am of the opinion it has been timed to follow up ZFX's announcement today. Also if you read it, it contains a little statement regarding the source of the data, which I felt is a little counter to ZFX's statement regarding things not being sourced properly.
Found it .It has just come up for me. Good news for me as an AGM holder and supporter. Interesting times ahead and there will be plenty of posts to come on the ZFX/AGM saga.
- Joined
- 12 January 2005
- Posts
- 315
- Reactions
- 0
It is funny how ZFX is making AGM spit out as much private information as they can, making ZFX valuation of AGM easier
AGM please keep showing more about you
WBII
Hi all, I'm a new member, love the forum.
I just want to know if anyone has read a report from the AGE?.
'Australian miner, Oxiana, has a positive outlook for the future. On 23 January2008, the company reported that it achieved its expected production for thefourth quarter of 2007. MD Owen Hegarty said that it was still examiningprospective acquisitions. He added that the weakening zinc market could presenta buying opportunity. Hegarty felt that the longer-term outlook was stronger, soOxiana may look at Zinifex again'
What do we think?. I'm definately hanging on to Zinifex in at least the short term.
I just want to know if anyone has read a report from the AGE?.
'Australian miner, Oxiana, has a positive outlook for the future. On 23 January2008, the company reported that it achieved its expected production for thefourth quarter of 2007. MD Owen Hegarty said that it was still examiningprospective acquisitions. He added that the weakening zinc market could presenta buying opportunity. Hegarty felt that the longer-term outlook was stronger, soOxiana may look at Zinifex again'
What do we think?. I'm definately hanging on to Zinifex in at least the short term.
- Joined
- 28 September 2007
- Posts
- 1,472
- Reactions
- 8
It is funny how ZFX is making AGM spit out as much private information as they can, making ZFX valuation of AGM easier
AGM please keep showing more about you
WBII
One would hope that the information provided is not exagerated, and in all honesty, I really wouldn't want our AGM friends disadvantaged in any way.
At least we are learning that the AGM prospective asset is looking as good as I am sure Zinifex already know.
Good luck to all AGM and ZFX holders for a profitable outcome.
- Joined
- 28 September 2007
- Posts
- 1,472
- Reactions
- 8
I've looked around at the financial areas of Comsec but cannot find what I am after. I am looking to see the 2 Billion Dollars that I have part ownership of.
I suppose we are earning a pretty good penny just on interest. Gee I would be happy just looking after it for 12 months or so.
I suppose we are earning a pretty good penny just on interest. Gee I would be happy just looking after it for 12 months or so.
Nyden
G.E. Money Genie
- Joined
- 23 May 2007
- Posts
- 1,368
- Reactions
- 1
I've looked around at the financial areas of Comsec but cannot find what I am after. I am looking to see the 2 Billion Dollars that I have part ownership of.
I suppose we are earning a pretty good penny just on interest. Gee I would be happy just looking after it for 12 months or so.
What exactly are you after mate? Perhaps I can help!
Beautiful recovery from ZFX today, I must say. Am tempted to buy some.
I believe many traders now feel more confident that ZFX will refuse to overpay for AGM; which is obviously positive.
Very nice increase in lead production as well, as per I expected though. Good thing as well, lead is still relatively hot ... compared to a dwindling zinc price
But, for now I'm sticking with high interest savings, & an index stock
Even in a massive crash, an Index stock doesn't get beat as harshly as many stocks individually will
- Joined
- 28 September 2007
- Posts
- 1,472
- Reactions
- 8
What exactly are you after mate? Perhaps I can help!
Beautiful recovery from ZFX today, I must say. Am tempted to buy some.
I believe many traders now feel more confident that ZFX will refuse to overpay for AGM; which is obviously positive.
Very nice increase in lead production as well, as per I expected though. Good thing as well, lead is still relatively hot ... compared to a dwindling zinc price
But, for now I'm sticking with high interest savings, & an index stock
Even in a massive crash, an Index stock doesn't get beat as harshly as many stocks individually will
Hey Nyden, I just need a login and password for their bank account.
Just kidding....
Did you ever see a balance sheet showing the cash from Nyrstar?
At current SP levels, dividend return is around 14%, so I have decided to stick to ZFX for as long as dividend return stays at $1.40 p/a or thereabouts. Zinifex will either succede on buying a resource or will end up being a resourse take over from somewhere else. So I am happy. I've got holdings now at $8.53 and will work at dollar averaging for the rest.
I like this position, not caring whether it goes up or down.
- Joined
- 28 September 2007
- Posts
- 1,472
- Reactions
- 8
Looks like a good start for the day. Zinifex should pick up a couple of points. Pre open is up 3% with good depth - plenty of buyers.
Zinc up, lead up on LME, US up overnight - all in all a good day should be had.
From Metals Report via Kitco:
ZINC SUPPORT: $2235 / RESISTANCE: $2315
We are now at $2260 on zinc, up $50, as we continue to push off $2235 support, which held earlier in the week on a
two-day closing basis. Still, today’s move is not triggering anything significant on the charts, as the sideways action
continues.
* Zinifex said today that price volatility in zinc markets was making it difficult for miners and smelting companies to
agree on treatment fees for 2008. There had not yet been any real convergence of positions between the mines and
smelters, Zinifex's acting chief executive said after the release of the company's second quarter production report.
In the report, the company said that zinc production rose 8% for the year to the end of the second quarter versus the
same period a year earlier, coming in at 301,274 tons.
LEAD SUPPORT: $2400 / RESISTANCE: $2700
We are at $2,585 on lead, up $80, and continuing our sideways action.
* Zinifex’s lead concentrate output in the second quarter was up 29.5% over the same period the previous year at
37,406 tons.
Zinc up, lead up on LME, US up overnight - all in all a good day should be had.
From Metals Report via Kitco:
ZINC SUPPORT: $2235 / RESISTANCE: $2315
We are now at $2260 on zinc, up $50, as we continue to push off $2235 support, which held earlier in the week on a
two-day closing basis. Still, today’s move is not triggering anything significant on the charts, as the sideways action
continues.
* Zinifex said today that price volatility in zinc markets was making it difficult for miners and smelting companies to
agree on treatment fees for 2008. There had not yet been any real convergence of positions between the mines and
smelters, Zinifex's acting chief executive said after the release of the company's second quarter production report.
In the report, the company said that zinc production rose 8% for the year to the end of the second quarter versus the
same period a year earlier, coming in at 301,274 tons.
LEAD SUPPORT: $2400 / RESISTANCE: $2700
We are at $2,585 on lead, up $80, and continuing our sideways action.
* Zinifex’s lead concentrate output in the second quarter was up 29.5% over the same period the previous year at
37,406 tons.
They don't have to fall to be worth getting in on. If you think they will fall why would the AGM holders not sell now. I value mine at more than the present offer price. As you said ZFX nickel off.
I agree with you, i didn't word it too well - they are worth getting on now for the long term. But in the short term I hope ZFX does back off, and depending if the market has another dive, AGM SP might fall and it would be a nice bargain.
What are some other companies that could be potential takeover targets for zfx? Provide some reasons too
- Joined
- 12 January 2005
- Posts
- 315
- Reactions
- 0
China's 2008 zinc exports to be half of 2007: COFCO
Hong Kong (Platts)--28Jan2008
China's zinc exports in 2008 are expected to be only about half of the
275,649 mt exported in 2007 because of higher domestic prices and tax changes, a COFCO Futures Brokerage Co. official said Monday.
Currently, domestic zinc prices in China are at Yuan 18,700-18,800/mt
($2,598-2,612/mt), higher than the three-month zinc price on the LME, which
closed at $2,260/mt on Jan 25, 2008. Meanwhile, changes on the taxation front are also expected to hurt exports. The Chinese government is expected to abolish the 5% value-added tax export rebate for 99.995% zinc, the COFCO source said. Besides, the Chinese government has imposed a 5% export tax on 99.99% zinc and a 15% export tax on 99.95 zinc from January 1 this year.
Chinese customs statistics show that China exported 275,649 mt zinc in
2007, down 15% from 2006. Figures from China's Bureau of Statistics stated that China produced 3.7486 million mt zinc in 2007, up 18% from 2006. The rise was attributed to some Chinese plants having lifted output as well as the completion of some new zinc production lines last year.
Hong Kong (Platts)--28Jan2008
China's zinc exports in 2008 are expected to be only about half of the
275,649 mt exported in 2007 because of higher domestic prices and tax changes, a COFCO Futures Brokerage Co. official said Monday.
Currently, domestic zinc prices in China are at Yuan 18,700-18,800/mt
($2,598-2,612/mt), higher than the three-month zinc price on the LME, which
closed at $2,260/mt on Jan 25, 2008. Meanwhile, changes on the taxation front are also expected to hurt exports. The Chinese government is expected to abolish the 5% value-added tax export rebate for 99.995% zinc, the COFCO source said. Besides, the Chinese government has imposed a 5% export tax on 99.99% zinc and a 15% export tax on 99.95 zinc from January 1 this year.
Chinese customs statistics show that China exported 275,649 mt zinc in
2007, down 15% from 2006. Figures from China's Bureau of Statistics stated that China produced 3.7486 million mt zinc in 2007, up 18% from 2006. The rise was attributed to some Chinese plants having lifted output as well as the completion of some new zinc production lines last year.
- Joined
- 27 November 2007
- Posts
- 30
- Reactions
- 0
What if Zinifex stopped selling any of its zinc?
Bear with me on this one.
They have heaps of cash and can survive for a while with no income. How about they stockpile all of their mining efforts for a year. Would this send the price of zinc up? If so they could then get in the market again with higher prices.
Bear with me on this one.
They have heaps of cash and can survive for a while with no income. How about they stockpile all of their mining efforts for a year. Would this send the price of zinc up? If so they could then get in the market again with higher prices.
Nyden
G.E. Money Genie
- Joined
- 23 May 2007
- Posts
- 1,368
- Reactions
- 1
No need to go that far, Roland already has an idea.
Zinifex is going to transmute all their lead into gold!
- Joined
- 28 September 2007
- Posts
- 1,472
- Reactions
- 8
Maybe Zinifex should be using some of the cash to buy back some their shares to increase shareholder value.
Stopping production wouldn't help - it pays the bills, the $2Bil would probably get eaten up pretty quickly, and who knows, zinc may actually decrease in value.
Also, I think that you will find they have forward sales contracts to fill. I am not sure what Zinifex's contracts are like, but many mining companies have contracts that go forward anywhere up to 10 years.
Stopping production wouldn't help - it pays the bills, the $2Bil would probably get eaten up pretty quickly, and who knows, zinc may actually decrease in value.
Also, I think that you will find they have forward sales contracts to fill. I am not sure what Zinifex's contracts are like, but many mining companies have contracts that go forward anywhere up to 10 years.
doctorj
Hatchet Moderator
- Joined
- 3 January 2005
- Posts
- 3,271
- Reactions
- 8
Buy-backs are pretty poor at enhancing shareholder value. More often than not history shows that the company overpays for the shares. That's great for those selling shares, but not so good for those left holding the remaining scrip.
ZFX have an especially finite remaining mine life don't they? Why not invest in something where they can leverage their existing Zinc experience?
ZFX have an especially finite remaining mine life don't they? Why not invest in something where they can leverage their existing Zinc experience?
Nyden
G.E. Money Genie
- Joined
- 23 May 2007
- Posts
- 1,368
- Reactions
- 1
I too thought about that prospect; them buying back shares, that is.
But in truth, I don't believe it to be too good an idea; especially whilst ZFX is clearly in a downtrend. They would lose valuable equity should the price of their investment continue this downward spiral; which is obviously very bad for shareholders.
They would essentially be buying more Zinc, which is not something they wish to do. They're looking to diversify, remember?
:
