Hi,

What are peoples opinions of this company seems to be doing well, big demand in China:

http://news.bbc.co.uk/1/hi/world/africa/default.stm

Anyone holding this share?

Cheers

The Sunday Times - July 22, 2007
Edmonds group in spin after miner is run out


Read full article here

Had over a solid hour of buying here - last recorded sell @14.07 - however spread is lengthening and buyers reducing price. Any-one got a clue what is up with CFM 2day?

BIG BIG drop on (good?) news! A bit of fishing here for the brave. L2 is quite a sight!

sned, news not showing on this pps, cfm have had their licence revoked.

c1, where have you picked this from? does explain the drop

Just found this on CAMEC's site - seems to refute the revocation of permits. This has been such a cat and mouse thing with the Katanga take-over.
..................

RNS Number:9920C
Central African Mining&Exploration
30 August 2007


Thursday 30 August


Central African Mining & Exploration Company Plc
('CAMEC' or 'the Company')


CAMEC Responds to Rumours Of Permit Revocation

......

The Company believes that there is no valid basis for this rumoured action. The
leaking of this potential action is clearly timed to impact CAMEC's offer for
Katanga Mining Limited ('Katanga') which was announced yesterday, and the manner
in which it has been processed is highly irregular. CAMEC believes that this
action is motivated by commercial forces in the DRC who oppose CAMEC's proposed
acquisition of Katanga.

The management of CAMEC is totally confident that the Company will successfully
refute any allegations or attempts made against its licences. In addition, the
process of revoking a mining permit in the DRC includes, CAMEC understands, the
following steps, none of which have been taken:

- There needs to be a genuine and valid reason under DRC law to challenge the
continuation of the licence.

- The Company should receive 30 days notice from the Minister of Mines.

- The Company must be informed in writing by the Minister of Mines
outlining the exact reasons for the suspension.

- The Company should then be given the opportunity to rectify the alleged
problem.

Finally, the Public Prosecutor, who issued the revocation order, does not have
the authority to cancel licences without going through the due judicial process.

..........

Hope the brave are enjoying this ride today! Have done a few "SELLs" on a quote and deal order type; they all register in the streaming trades window as "BUYs"! Some-one is mopping up eehh!?

15:56 - gone to auction .... WHY?

now all "BUYs" registering as "?" ..... hmmm

Trading in CFM Shares suspended, pending an announcement.....

anyone got any "leaks" about this yet?

restored - time to fish the brave!

50p or higher target soon.

great news today.

don't say I'm all alone again!!..

I thought people here bought shares lol

Hi Dynamix, you're not alone: I've bought shares today. Price should move upwards again following the news re their licences but it may take a little while for confidence to return.

good stuff toya

a post from advfn.. I tend to agree with this view..



--------------------

The shorting scum & co / Mms have simply been caught with their
trousers down - having had no inclination or vibes that the 1:18pm
RNS was inbound.. Otherwise they would have pumped it up 25%
this morning before the RNS, like they normally do.. (!)

It's caught them out big time and the best they could do was to hold it
back at 31p/32p this afternoon trying to get shorts out.

What is it with these shorting scum corruptly manipulating shareprices
to try and rip off and thieve from private investors ?

This will go up tomorrow morning, and will no doubt be 50p+ by early
next week, if not by close on Friday.


Bring on another positive RNS Camec.. preferably before 8am and
really burn those who have been "abusing" your shareprice the last
few weeks !


The only reason one person in the govt would try and make some fuss
is because Camec threatened to sue for the damage caused to their
shareprice over the farce of these last few weeks.

- CFM's Katanga bid was illegally obstructed, destabalising the sp.

- With CFM having withdrawn - the licenses are now "mysteriously"
NOT under threat anymore..

Read the RNS. No loss of work or production during all this.


As someone posted earlier - a Trading Update RNS from the company
tomorrow would help put things back into perspective

- CFM was 48p to 58p a share prior to the 2 licenses being threatened.

- Plus Camec still own 22% of Katanga with Anglo and other bidders
queueing up to buy it outright. Camec's 22% stake being worth 14p
to 25p per CFM share alone !

- The licenses have now been confirmed as NOT being under threat
legally by the Courts. Yet the sp has only risen from 26p to 31p ?


- CFM will doubtless be 48p to 55p again very soon..

Thanks for that info Dynamix - I agree with you.

getting like a soap opera this RNS battle.. but it seems CAMEC are admant the Courts validated their license..

shoud clear up the doubt if Bell Pottinger comment

Central Afr. Min&Exp Further Update re Licences


RNS Number:1934E
Central African Mining&Exploration
20 September 2007

Thursday 20th September 2007


Central African Mining & Exploration Company Plc
('CAMEC' or 'the Company')

Response to Statement Distributed by Bell Pottinger

CAMEC, the fully integrated exploration, mining and production company, notes
the statement issued to media by Bell Pottinger on 19 September 2007 quoting a
spokesman for the government of the Democratic Republic of the Congo ("DRC").
This statement appears to suggest that the ruling in favour of CAMEC, issued by
Le Tribunal de Grande Instance on 18 September 2007, endorses only "the transfer
of the apparent licences from one commercial body to another in 2004", and that
"the "licences" were improperly obtained originally and are still invalid".

This is not what the CAMEC announcement said and the Company believes that the
statement issued by Bell Pottinger is erroneous and misleading. The ruling from
the Court clearly refers to the original transfer in 2004 from Gecamines, the
State owned mining company in the DRC, of licences C19 and C21 to CAMEC's
subsidiary Boss Mining, licences C17 and C18 to Kababankola Mining Company
("KMC"), and of the Mukundo deposit to Mukondo Mining (jointly owned by Boss
Mining and KMC). The Court ruled that these transfers were made in accordance
with the law and are therefore valid. The Court also upheld the Settlement
Agreement made in February 2004 pursuant to which all these licences were
transferred.

CAMEC is concerned about the misinformation in the market created by the
statement and will be writing to Bell Pottinger to ask them to issue a
statement immediately to correct any misunderstanding.

Andrew Groves, Chief Executive of CAMEC, said:

"There has either been a deliberate attempt to mislead the market as to the true
nature of the court ruling, or there has been a negligent failure to check the
facts before the issuance of a press release. Given the importance of this
matter to CAMEC and its shareholders, we are reviewing all options open to us to
prevent the further dissemination of erroneous information into the market
place."


For further information please visit www.camec-plc.com or contact:


Phil Edmonds / Andrew Groves CAMEC Tel: 0845 108 6060
Jonathan Wright Seymour Pierce Tel: 020 7107 8000
Ben Brewerton / Jon Simmons Financial Dynamics Tel: 020 7269 7279

anyone holding CFM?

what an odd question do you hold?

I do hold, this has been going down any news?

so do I ... nice to have company

kate ..... not another company where that skunk Edmonds is involved!! ...... he makes Timmis combined with Indonesia look like Snow White!

good stuff coming here mr Cynic, I never let you down.

guess i would trust you more than that snake Edmonds, though that is rather damning with faint praise!

Well TMC has 3 bagged since I brought to people's attention, expect better here.

shall i buy some and promise you a big kiss when you are proven correct (again!)?

Hope you did buy some cynic, another bit of news and a tick up ::)))

yes i did ... a very modest 40k (shares!), which felt to be more than enough at the time, and i doubt i shall add either - or at least not for the mo

Tell us when your puckering up then, we got to see this, Kate braise yourself!! lol.

greed overcame me and a further 25k @ 9.25 looked too good an offer to refuse.

there's a limerick about he young lady from Australia too!
Kate - it would be a pleasure, even if not necessarily mutual

Care to tell us the limerick??

Really ancient schoolboy one, as shown by use of "real" money ....

There was a young girl from Australia
Who painted her bum like a dahlia.
A penny a smell was all very well
But twopence a kiss was a failure

Cynic could you stay away from my stock, it stopped going north the moment you came in now look what you've done. :))

chuckle chuckle!

This looks positive, Heres the gist of the article:-
Hard money enthusiasts have long watched for signs that China is switching its foreign reserves from US Treasury bonds into gold bullion. They may have been eyeing the wrong metal.
China's State Reserves Bureau (SRB) has instead been buying copper and other industrial metals over recent months on a scale that appears to go beyond the usual rebuilding of stocks for commercial reasons.

John Reade, metals chief at UBS, said Beijing may have a made strategic decision to stockpile metal as an alternative to foreign bonds. "We're very surprised by Chinese demand. They are buying much more copper than they will need this year. If this is strategic, there may be no effective limit on the purchases as China's pockets are deep."

If his thoughts reflect Communist Party thinking, it would explain the bizarre moves in commodity markets over recent weeks. Copper prices have surged 49pc this year to $4,925 a tonne despite estimates by the CRU copper group that world demand will fall 15pc to 20pc this year as construction wilts.

This is slightly disingenuous. China has the world's largest reserves - $1.95 trillion, mostly in dollars - because it has been holding down the yuan to boost exports. This mercantilist strategy has reached its limits.

Beijing may yet buy gold as well, although it has not done so yet. The gold share of reserves has fallen to 1pc, far below the historic norm in Asia. But if a metal-based currency ever emerges to end the reign of fiat paper, it is just as likely to be a "Copper Standard" as a "Gold Standard".

On it's way up again, hope Cynic's out of these....lol

you know i have put a hex on these and am just suckering in a few more piggy-wigs before gobbling them up!

very heavy traffic in these today .... already 11.5m traded against a daily norm of 7m and sp just testing 200 dma ...... a break through here with impetus would be very jolly, or will sp just back off?

Cynic be quiet!!!! I'm enjoying the ride.

out, at least for the moment, at 11.75 and a very tasty profit as this and the market in general looks to be stalling

Shares in Central African Mining and Exploration Company Plc jump 15 percent after Ambrian Capital lifts its recommendation to 'buy' from 'speculative buy', and on higher cobalt and copper prices.

"You have got a pipeline of very positive newsflow stream for this year," says Nick Mellor, an analyst at Ambrian. "If cobalt can stay up and keep generating their cashflow to finance its projects it's a nice little play."

The African focussed company resumed cobalt production at its Mukondo Mountain project -- expected to fund a significant part of the group's development -- in March. Earlier this month, it restarted copper output at its Luita operation and said progress at its Bokai platinum joint venture was exceptional. "


Thus the reason for gtoday's excitement

I know, your way behind as usual, got in at 8p ha ha.

Took profit at 12.25p

why did you pay so much? ....... i bought my original slab at 6.19 and then got greedy and added about 35% at 9.25

Us country boy's aren't as quick as you to get it in, but enjoy the ride and let it soak for as long as possible. Get fingers burnt doing so sometimes. lol

as i posted earlier, i sold at 11.75 and more than happy with the result

seeing as your average works out at 7.72, we ain't far apart, infact you had a 4.03gain and I had a 4.25 gain. lol I'd still swop by account for yours though.

and mark my words, london is heading south tomorrow judging by NY .... see my post on FTSE thread

Glad I didn't sell all my holding yesterday, up 12.5% again today, all profit. :)))

back in again this morning albeit at 13.25 as 200 dma would now appear to be firmly breached and with good volumes too ...... of course that does not necessarily mean anything more than just simple "more buyers than sellers"

for interest - avr daily volume = 7m and already 13m

still continues to go up and the volume has been pretty decent too,any one thinks this is still cheap or else.

sp has suddenly got excited, and decent volume - norm = 11.5m; current = 18m; finished at 23.5m

Mali to Spend $800 Million Boosting Energy Production (Update1)
Share | Email | Print | A A A

By Frederic Tomesco

June 10 (Bloomberg) -- Mali plans to spend $800 million by 2013 to triple power production and help boost output of gold and bauxite, said Energy and Water Minister Mamadou Igor Diarra.

Our goal is to triple our electricity potential within four years, Diarra said yesterday in an interview at the Economic Forum of the Americas in Montreal. We have a major power deficit. Without energy, development will become very difficult.

Mali has the capacity to produce 200 megawatts of power a year through a combination of hydroelectric dams and thermal plants, Diarra said. New facilities, including two dams on the Senegal River, may provide another 400 megawatts, he said.

About 70 percent of the financing for the projects will come from the Mali government and loans from institutions such as the World Bank and the African Development Bank, Diarra said.

The remainder may come from China and India, from whom Mali has received very attractive offers, he said. They are offering financing as long as their companies can take part in the construction.

Mali is Africas third-largest gold producer after South Africa and Ghana. The country also produces bauxite, iron and manganese.

Camec Discovery

One beneficiary of the planned expansion in power output will be Central African Mining and Exploration Co., which said last month it discovered a so-called inferred bauxite resource of about 439 million metric tons in Mali. Mining cant start until the bauxite deposit is connected to the countrys power grid, Diarra said.

Camec only needs 30 megawatts of power to be able to operate the deposit, but we cannot even give them that, he said. This is a project that would provide work for 40 years - - can you see how absurd this is?

Due to the power deficit in Mali, companies like Canadian miner Iamgold Corp. have decided to establish their own generation facilities to ensure sufficient energy.

Heightening the need for more power, Mali expects gold resources that are exploitable through open-pit mining to be largely depleted within three years, Diarra said.

We are going to need to go underground to keep mining gold, he said. But to go underground, you need energy.

To contact the reporter for this story: Frederic Tomesco in Montreal at tomesco@bloomberg.net

Last Updated: June 10, 2009 04:43

Over 6 million traded this A M on heavy buying

Today bouncing from the retracement

That is my text on the UPS thread........

UPS

CFM 11.125p ( 11 / 11.25p )
reason: A copper and cobalt exploration company, last month discovered bauxite resource of about 439 million metric tons in Mali. Large volume today with share price bouncing from the last retracement, Indicators are all now at oversold and share price at lower Bollinger Band

Charts- Intraday

3 month candlestick with volume

3 month Bollinger Bands - 50 days MA - Indicators

5 days

SP trying to go higher as the VOLUME reached record levels and still 2 hours to go.

another move up today and...

From tthe FT- online version under equities / small caps:

Central African Mining and Exploration, which is chaired by former England cricketer Phil Edmonds, added 9.1 per cent to 12p on talk it could be a takeover target for Brazils Vale or a Chinese materials group.

BRIEF-CAMEC says gets offer approaches
16 Jul 2009 - 10:58

just through on Reuters

That is right.........

CFM 15 - 15.50p +3.25p

Central African Mining Statement re Possible Offer

Statement re possible offer
CAMEC notes the recent speculation concerning a possible offer for the entire
share capital of CAMEC.
CAMEC confirms that it has received preliminary approaches concerning a possible
offer for the entire issued and to be issued share capital of the Company. These
preliminary approaches may or may not lead to an offer being made for the
Company.

anymore news on CFM

Like what?
The company has said about talks, one now has to wait and see if the bid comes along or comes to nothing.

There is plenty of speculation who is or are the bidders and how much would be for

What price are people speculating on Master?

anything between 16 and 160!

Thanks cynic!

damn fool question deserves a damn fool answer

germans1

re -What price are people speculating on Master?

the talk is about 22p, but others a bit too bullish are looking for 25 to 35p

Thanks Master! Might hold a little longer then.

guys go too nostra terra oil gas/NTOG put some links in going to heat up in the next few weeks.buying @0.22

tescoma - if it's anything like your reccomendation of FRR I won't be taking much notice, twat

From the FT.com ............

David Stevenson: Into Africa
Published: July 17 2009 16:04

As investors begin to re-engage with risky assets, such as emerging market equities, it is fascinating to watch the slow rekindling of interest in Africa.

Late in 2008, the wheels came off the decoupled, uncorrelated markets thesis, which had suggested that frontier markets were uncorrelated with developed world stock markets and powered instead by domestic growth. In reality, supposedly inflation-proof commodity-based hard assets turned out to be hugely correlated with global economic confidence and appetite for equity risk. So, when demand fell, African mines started closing at a brisk pace. Everyone quickly dumped their frontier market assets. ...................

For example, Camec, the Aim-quoted copper and cobalt mining company, has spun off two London- listed businesses: AgriTerra (ticker symbol: AGTA) and African Medical Investments (AMEI). .............

http://www.telegraph.co.uk/finance/markets/marketreport/5852250/Miners-lift-FTSE-for-a-bullish-end-to-the-week.html

From the TELEGRAPH - MARKET REPORT

Miners lift FTSE for a bullish end to the week

The FTSE 100 stormed ahead on its fifth straight day of gains, rocketing up by 6pc over the week as investors celebrated Goldman Sachs' stunning results and "the most positive housing report in ages" out of the US.

Heavyweight mining companies helped the blue-chip index to its biggest weekly rise since January. Kazakh miner Eurasian Natural Resources Corporation (ENRC) was the top riser, up 41 at 762p.

Investors welcomed reports that ENRC could be in the running to buy Central African Mining and Exploration (Camec). ENRC has a wealth of cash on its balance sheet that needs to be put to work, said analysts.

Rumours swirled that Camec - CFM - could fetch up to 30p a share. Investors, however, appeared unconvinced and the shares fell back 1 to 15p following a strong rally earlier in the week.

Miners dominated the leaderboard. Xstrata jumped 28 to 690p, Vedanta picked up 61p to 15.02 and Antofagasta gained 22 to 671p.

Their strength bolstered the FTSE 100, which closed 26.91 higher at 4388.75. The mid-cap FTSE 250 closed up 26.55 at 7580.66. .............

Market report -Telegraph

i think (very much hope!) that the pullback yesterday was just end-of-week profit taking ...... volume was massive at about 34m
NY finished OK on friday, so with luck, London will open positively on monday in any case

300% gainer for me now :-))

TMC probably next one taken out now.

guys nostra teraa oil and gas /NTOG featured in rigzone for the 1st time

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NTOG Snaps Up 3 Oil and Gas Properties in Kansas
Nostra Terra Oil and Gas Co. PLC
|
Wednesday, July 15, 2009
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NTOG announced that on July 13 it entered into definitive agreements with Hewitt Petroleum, Inc. ('HPI') for the purchase and exploration
of three properties in Kansas, USA for an initial consideration of US $235,000 which has been paid in cash with US $25,000 of the balance due within 60 days of execution of definitive agreements ('Execution'), US $275,000 within 90 days of Execution and US $100,000 to be satisfied by the assignment by Mr. Lofgran to HPI of his working interest in another property known as the Perth field where HPI is also a partner.

The acquisitions and development plans fit within NTOG's new strategy announced on June 30, 2009 in which it looks to acquire assets in the USA to diversify from Ukraine into areas of low political risk, while acquiring properties of low geological risk with significant undeveloped reserves, with an objective of developing a stable, and steady cash flow.

NTOG's newly appointed CEO Matt Lofgran commented, "This is a critical turning point for NTOG and its shareholders. The properties we have acquired and are seeking to acquire have existing production, but more importantly proven reserves, which provide the opportunity for significant upside. In addition we have partnered with Hewitt Petroleum Inc, a proven operator and expert in these given fields. We are very excited about the quality of properties and relationships we are bringing to NTOG."

The properties acquired are as set out below:
Koelsch Field

A 50 percent working interest in two production wells and one salt water disposal well in the Koelsch Field, located in Russell County, Kansas. The working interest is subject to an over burden of not more than 22 percent. HPI has undertaken to deliver a recordable assignment of the assigned working interest within 90 days of Execution failing which a US $60,000 advance shall be repaid to NTOG. In the event the leases and wellbore are acquired the estimated costs for the deepening and reworking of the two production wells and the development cost for the reworking of the Salt Water Disposal Well are US $231,000 to be met by NTOG which will receive 75% net revenues until its actual costs have been repaid and thereafter 50%;
Hoffman Field

A 25 percent working interest in five production wells (of which two are plugged) and one salt water disposal well in the Hoffman Field, located in Barton and Russell County, Kansas. The working interest is subject to an over burden of not more than 22 percent. US $125,000 cash has been paid for the assignment of the working interest, with the balance of US $275,000 due within 90 days of Execution. The estimated costs for the deepening and reworking of the five production wells and the development cost for the reworking of the Salt Water Disposal Well are US $1,350,000 of which 25 percent is to be met by NTOG.

If revenue is generated from production on the project prior to NTOG completely paying for their interest then the revenue shall be adjusted on a prorate basis for the amount that NTOG has actually paid; and
Bloom Field

A 50 percent working interest in nine production wells and two salt water disposal wells in the Bloom field, located in Russell County, Kansas. The working interest is subject to an over burden of not more than 22 percent. US $50,000 cash has been paid for the assignment of the working interest, with US $25,000 of the balance due within 60 days of Execution and a further US $150,000 within 90 days. The remaining US $100,000 is being satisfied by the assignment by Mr Lofgran to HPI of his working interest in another property known as the Perth field where HPI is also a partner. NTOG shall have no obligations owed to Mr. Lofgran in compensation of the transfer of his asset to HPI. The estimated costs for the deepening and reworking of the nine production wells and the development cost for the reworking of the two Salt Water Disposal Wells are between US $1,820,000 and US $2,550,000 to be met by NTOG which will receive 75% net revenues until its actual costs have been repaid, thereafter 50%.

Under the agreements between NTOG and HPI, in the event that either party elects not to participate in the drilling, deepening, reworking or completion attempt on an additional well, such party will be deemed to have released and relinquished to the other participating party or parties all its right, title and interest in and to that well and the participating party shall own the relinquished interest free and clear of all obligations to the non-participating party.

APPL 82 revised joint operating agreements have been executed in respect of all three leases between NTOG and HPI (as non-operators) and Hewitt Energy Group, Inc (as Operator).



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oh i do so hate these spam posters! .... wish we could have them blocked.

anyway, so far so very good here this morning after just 15 minutes trading ...... after a non-event start, sp now 16/16.5 and 1m traded

Can you not give him the bennifit of your verbal abuse Cynic..... just like you give us :))

balerboy go to engel east europe n.v./EEE ive put some links into bulgarian property complex,s they have built and have sold total value 15.5m.disposal rns very soon.mkt cap 1.87m these sale alone are a 6/7 bagger.they also have other propertie,s globally.from accounts nav 32p hidden away at the moment.NO BRAINER

Report him to Ian @ moneyam

am quite surprised that there has been so little traffic on this thread for the last several days ..... sp is steady to firm and volumes remain huge ...... although the bid has yet to be quantified, let alone accepted, i would still have expected more interest

surely there has to be some announcement soon - doesn't there??????
once again, volume is well above the norm and throughout the day, bids for stock have consistently and significantly outweighed what is offered

the strange stuff continues ..... just over 11m traded already today and sp is a bit weaker, but still within the narrow trading range of the last week or so

A good knock out today now 13 / 13.25p - 1p
Indicators were pointing to the drop after reaching 16.75p

EUA news very soon. http://www.minesite.com/nc/minews/singlenews/article/eurasia-minings-new-russian-partner-gives-it-the-flexibility-to-get-involved-in-gold.html

33m (you read that correctly) traded today, and almost exactly matched buy/sell ..... bit of a hairy-scary ride which must surely come to its conclusion shortly

still no news but sp up 10% this morning at 16.0 mid, and was a bit higher still

a non-event rns today, but suddenly both sp and volume have come back to life pretty substantially ..... no more than an observation at this juncture

only 34m traded today, and though sp is nicely up, buys do not hugely outnumber sells

is this "sympathetic pregnancy" syndrome?
alongside GKP, CFM has suddenly picked up a head of steam again with heavy volume too

Not in this one but there are so many that have awoken from slumberland.....just can't cover them all.

24m traded with closing price showing as 17.75/18.0

Decided to join you.....but not sure about it...trend is to rise with a takeover bid possibly....bit of a gamble for me...hope you lot are right about this one.

but i am in at 15 having already banked some profit on lower priced holdings - first in, first out principle

A rise to the mid twenties would suit me...

Still holding some from 6p.... 20 something would do me as well.. :))

volume already 14.5m against daily average of 9m ...... at current value, am now quite obese (though not morbidly so) for the size of company, but am paralysed by greed!

cynic are you still in this one,no news of bid yet but picking up a little today?

indeed i am ..... in fact, i am really quite significantly o'weight for such a dodgy little company, though was even more heavily in here until i took some profit a couple of weeks back

solid buying at the open is the bid announcement coming?

good momentum as buying increases bid news imminent?

2 months since possible bid offer.....if no offer emerges : back to 15p or less...not sure about this...

how high do you think it wikk go??????

I don't know, ...chickened out at a nice little profit...might or might not be the best thing to do...but I would be fed up if no bid came and back to 15p for months on end again...so good luck to all holders..if it comes right : great...I'll be pleased for all.

steady buying continues 20p bid 20.25 offer.

Read this in today's Times:

Camec buoyed by bid talk
"Are the stumps about to be pulled up at Central African Mining & Exploration (Camec), the miner run by Phil Edmonds, the former England spin bowler?

Shares in the group gained p to 18p amid renewed speculation that ENRC, the Kazakh miner, was on the verge of launching a bid.

It is believed that ENRC had been due to discuss a deal at its last board meeting but that the discussion was postponed because of management changes within the Kazakh group.

Industry insiders suggest a bid could be made at about 26p per share and note that any ENRC approach would be likely to lead the Chinese, who currently take a large proportion of Camecs cobalt production, to launch a counterbid.

Camec confirmed in July that it had received bid approaches. Vale, the Brazilian group, is also thought to be interested in making an offer."

Could be hotting up... and hence the steady buying.

Lots of buyers about first thing here today.

let's hope they don't turn into sellers while while i'm in munich then!

When are you off? - And will you be sending us daily bulletins??
We'll keep an eye on CFM for you

Not the legs again please!!!!

so you don't fancy the idea of me in lederhosen and a bavarian hat (mit feder!), playing the tuba?

T - this afternoon, but back thursday afternoon ..... was contemplating a remembrance pilgrimage to Dachau, but not sure that it would not upset me too much

That is far too upsetting Cynic....there is enough misery in peoples lives as it is...let's (if possible) think of nice things...I know it's difficult !.

Have a good trip then Cynic. Stay away from Dachau and find something fun to do instead.

an interesting philosphical question ....
should one avoid situations such as Dachau just because they are emotionally upsetting?
if so, should one avoid going to First World War memorials etc, like at Vimy Ridge or Arras?
certainly in this last case, i feel quite strongly that one should visit, even if only as a salutary reminder.

I wouldn't say one should avoid them, Cynic, but maybe a bit much to tack on to a biz trip? - Depends how strong you are feeling and how strongly you feel

My Dad spent 6 years of his life in the Army during the second world war and was almost at the liberation of belsen, he saw many an atrocity and people being killed and even though he talks quite often about that period says that sometimes it is best not to be reminded all the time about terrible things even though you must not forget them completely : it just brings back terrible memories and you end up feeling unwell because of them.

Offer now coming from ENRC. Looks as though it may be below expectations.

LONDON, Sept 16 (Reuters) - "Kazakh mining group ENRC (ENRC.L) may use some of its cash pile to buy junior miner CAMEC (CFM.L) for about $950 million and expand into mineral-rich Africa, ENRC said on Wednesday.

The move by ENRC, one of the world's biggest ferrochrome producers, might spark a bidding battle with Chinese parties seeking to lock in supplies of cobalt, analysts said. [ID:nLG564561]

ENRC said it was in advanced discussions with AIM-listed Central African Mining and Exploration Co. (CAMEC), which said on July 16 it had been approached about a possible takeover from unnamed parties. [ID:nLG75825]

ENRC said in a statement it was considering a cash bid of around 20 pence per share for CAMEC, whose chairman is former England cricketer Phil Edmonds. That would value the firm at about $950 million."

has anyone worked out how $950m translates into sp? ..... anyway, such an offer would probaly be just a sighting shot to get things moving

Central African Mining main focus for Eurasian

Eurasian Natural Resources has confirmed that its current main focus in terms of acquisitions is the possible transaction with Central African Mining.

This was in response to a statement issued by African Minerals earlier today which claimed that it had received a bid approach from Eurasian Natural Resources.

"The boards of directors of ENRC and CAMEC announce that they have reached agreement on the terms of a recommended cash offer, to be made by a wholly-owned subsidiary of ENRC, to acquire the entire issued and to be issued ordinary share capital of CAMEC.

The Offer will be 20 pence in cash for each CAMEC Share."

Glad I got out not long ago...

"Stupid boy"

Where is this one going up 8% since news?????

Theres a buy of 5,000,000 at 2.30pm the rest are red sells? any thoughts

unsure at present!!!

You might as well dump the stock now...20p takeover...no point in waiting 2 months for payment of another half penny.

RF .... i shall hold at least for the moment, not for the 0.50p but because a counter-bid is still not precluded

Anything is possible, but very unlikely, sadly, imo.

a very long shot i grant you, but have no immediate need for funds, nor any inspiration as to where to put my money next .... for sure it will earn better interest left here than it would in the bank even if no counter-bid materialises

As I'm holding higher I'm staying put for the moment although I have traded this well in the past.

By Julie Crust and Eric Onstad

LONDON, Sept 18 (Reuters) - Kazakh mining group ENRC on Friday wrapped up a $955 million cash deal to buy junior firm CAMEC, which will diversify the firm into metals such as copper and into high-risk areas of Africa.

ENRC already holds 55.2 percent of CAMEC shares through market purchases and agreements with shareholders and CAMEC plans to recommend the deal, ENRC said in a statement.

Shares in AIM-listed Central African Mining and Exploration Co. (CAMEC) jumped 6.9 percent to 19.50 pence by 1240 GMT, slightly under ENRC's 20-pence a share offer, which values the group at 584 million pounds ($955 million).

The shares have more than doubled since CAMEC announced in July that it had been approached about possible takeovers and have soared more than eightfold since the start of the year.

Shares in ENRC, one of the world's biggest ferrochrome producers, gained 1.8 percent to 911.5 pence.

ENRC said it had purchased all of the CAMEC stake owned by major shareholder Dan Gertler, an Israeli resources investor. Gertler owned around 35 percent of CAMEC.

After ENRC announced on Wednesday that it was considering an offer, some analysts said the move might spark a bidding war with Chinese parties, but Ambrian analyst Brock Salier said it appeared that ENRC had sealed the takeover.

'The synergies with ENRC are clear, and, due to the political goodwill that ENRC will be chasing in both the DRC and Zimbabwe, the recommendation by CAMEC suggests to us that this deal will definitely go through,' he said in a note.

decided to sell friday as a 300% profit is not to be sniffed at imo.

certainly now looks like a done deal then ..... no point in pissing against the wind

You do have a way with words cynic.

Doesn't he just... I'm out also, though can't boast such a good profit as BB - well done you!

as has been said of me before, at least no one will misunderstand the point i'm trying to make!

lots of buys this morning,I wonder why?

Maybe someone thinks the deal is off:
"HARARE, Oct 6 (Reuters) - Zimbabwean President Robert Mugabe opens a session of parliament on Tuesday which will debate amendments to the mining law. Mugabe told a mining conference last month the government would soon pass a law to address concerns raised by an earlier draft that sought to give locals at least 51 percent of foreign-owned mining operations.

BOKAI - Central African Mining & Exploration Co Plc (CAMEC) said last month its joint venture company in Zimbabwe would open a platinum mine producing 400,000 tonnes annually within six years. CAMEC owns 60 percent in the joint venture firm, Todal Mining, and says it requires $250 million to develop the first phase of the mine. "

Thanks for that Harrycat.

Satisfaction of South African Anti-Trust Condition

London - "ENRC confirms that it has obtained approval from the South African Competition Commission in connection with its recommended cash offer for CAMEC ("Offer"). ENRC confirms that the receipt of such clearance satisfies the South African anti-trust condition set out at paragraph (b) of Part A to Appendix I of the Offer Document.

The Offer is subject to a number of conditions including, the receipt by ENRC of acceptances in respect of 90 per cent. or more of the CAMEC shares to which the Offer relates.

The Offer which remains subject to the terms and conditions set out in the Offer Document will remain open for acceptance until 1 pm (London time) on 9 November 2009."

28ml buys today?

Yes, I saw that there was heavy volume. ENRC has been in the news with other possible acquisitions, but this looks to be a done deal. But, you never know until.......