ZFX - Zinifex Limited

[roland]

UBS just picked up 10% of AGM. Looks like the AGM takeover is looking a little less likely.:

Jinchuan 10%
UBS 10%

Not sure what the directors are holding, but it's all adding up to a failed take over bid IMO.

 

[banska bystrica]

UBS just picked up 10% of AGM. Looks like the AGM takeover is looking a little less likely.:

Jinchuan 10%
UBS 10%

Not sure what the directors are holding, but it's all adding up to a failed take over bid IMO.

Stop ramping and telling lies. Where did you get UBS having 10%? 5.5% more like it but that wouldn't suit your motives would it?

 

[oldblue]

For what its worth, latest disclosure shows Barclays holding 9.15%.

:

Disc; Not holding either AGM or ZFX but interested in the latter.

 

[roland]

Stop ramping and telling lies. Where did you get UBS having 10%? 5.5% more like it but that wouldn't suit your motives would it?

Yes, you are correct- 5.52%, must have misread the announcement. Would appreciate lowering the tone of your personal attack though, it's really not necessary.

 

[roland]

Re: Drake & Zinifex, if anyone is interested, here is a mineralisation report on the Bergslagen region in Sweden http://www.sgu.se/dokument/service_sgu_publ/C833_ripa.pdf , interesting to note the text referring to reports of gold deposits up to 45g/ton

 

[roland]

This reference fron the International Geological Congress Olso 2008 is probably better:

Regional geology and ore deposits: Bergslagen is a mining district in central Sweden that has been a major metal producer for well over 1000 years and which contains over 6000 ore deposits and mineral prospects (Stephens et al., 2001). The district is the intensely mineralized part of a Paleoroterozoic (mainly 1.90-1.87 Ga), felsic magmatic province in the Baltic Shield (Fig. 1). The district contains a diverse range of ore deposit types, including banded iron formation, magnetite-skarn, manganiferous skarn- and carbonate-hosted iron ore, apatite-bearing iron ore, stratiform and stratabound Zn-Pb-Ag-(Cu-Au) sulphide ores, REE deposits and W skarn.

..... it goes on - see http://www.33igc.org/coco/entrypage...1&objectid=11042&guid=1&lnodeid=1&pageid=5036

 

[johnno71]

I think UBS just sold their shares to zfx. No one else holds that many shares that would be selling.

 

[roland]

MQG just picked up 6% of AGM, seems like even we the ZFX takeover is not successful, we will have what is shaping up to be a good investment.

 

[johnno71]

Why would MQG buy in at over $1 when they could wait and pick up AGM for 70c or 80c when ZFX offer exspires. They must think ZFX will offer more.

 

[nioka]

Why would MQG buy in at over $1 when they could wait and pick up AGM for 70c or 80c when ZFX offer exspires. They must think ZFX will offer more.

Just maybe they are happy that AGM is worth more than ZFX is prepared to offer and they are as happy to hold until production commences and AGM show the real potential of a major nickel province. If AGM shares ever fell to the 70c the rush to buy by the faithful will soon push the SP back to new heights. It is real investors holding it to the present price now, theZFX offer is just a diversion.

 

[johnno71]

They probably think AGM is a good buy at a dollar, just like ZFX does. But why pay over a $1 when they could pick them up cheaper in a weeks time. AGM aren't without risk, they might have plenty of nickel in the ground, but if they go broke before they mine it, because they loose money punting on the share market or another delay in production. Only a 5 weeks left in the quarter and haven't heard much about when production will start. Thats odd for a company that likes talking it's self up.

 

[roland]

Oh bugger it, Zinifex extends the offer until 7th March

I was hoping that in 2 days time, all this AGM stuff would be over - this is getting really tiresome.

Just waiting now to read the full details.......

 

[roland]

Oh bugger it, Zinifex extends the offer until 7th March

I was hoping that in 2 days time, all this AGM stuff would be over - this is getting really tiresome.

Just waiting now to read the full details.......

Well, it was pretty obvious what the ZFX shareholders thought of that decision. $9.00 - down over 4%

 

[roland]

OK, well these graphs shows me it's not really Zinifex's fault that the SP has fallen so much. ZFX's SP is really tied closer to the LME action than I thought.

 

[roland]

and if you think Zinc is having a hard time - have a go at working out what is happening with Nickel

 

[roland]

... and, this is probably why we are not chasing copper right now, sort of hard to get a leg in with copper doing so well.

 

[tradingforwealth]

I believe they are posting their results on Friday, so lets hope there is news on the dividend.

 

[vishalt]

Eye can sense some eye popping after Zinifex cuts its dividends.

No idea what the directors were thinking when giving that much in the first place (can't complain if you got it though hey).

 

[roland]

I believe they are posting their results on Friday, so lets hope there is news on the dividend.

The general consensus is that the dividend yield is going to drop - bugger it. I'll hold for it this half year (didn't last 6 months). If it drops, I'm going to pull half of my holdings at a loss and throw into something like BBP, or BBW.

 

[happyjack]

I only had a quick look but it did not appear that anyone else had posted this so here is the AGM saga part 1024

20 February 2008
Dear Fellow Shareholder,

Update on Zinifex Offer

I am writing to you to provide an update on the current status of Zinifex’s offer for Allegiance.

At the outset I would like to thank you for your support during this process which your Allegiance team much appreciates. The overwhelming majority of Allegiance shareholders have chosen to follow your Directors’ unanimous recommendation to REJECT the inadequate $1.00 per share offer from Zinifex. Furthermore, our recent polling of shareholders indicates that in excess of 90% of
shareholders believe that Allegiance is worth more than the current offer.

Zinifex extends offer to 7 March 2008

Today, Allegiance was notified by Zinifex that it has extended the offer period under its takeover bid until 7pm (Melbourne time) on Friday, 7 March 2008. Since I last wrote to you, your Directors have continued to evaluate all options and strategies to maximise shareholder value, in light of the current inadequate offer from Zinifex.
With Zinifex’s extension of its offer you now have more time to consider your position and await further developments

In closing

Thank you for your continued support for the Allegiance team and we will continue to keep you updated on developments as they occur.

With best personal regards
Tony Howland-Rose
MSc, DIC, FGS, FIMMM, FAusIMM, MAICD, FAIG, CEng
Chairman

Happyjack