african minerals appears to be upping its stake - possible takeover / offer?

Not been about today so missed all the fun. Thank god. lol This will fly again on the next bit of news me thinks. sooooooooooon

Hi all, just bought into BAO over the past 2 months and hold around 50,000 shares. What price do people think a resource update showing the estimated 400m to 700m tonnes would do to the price...60p / 70p or more???

on the back of strong markets (long may they hold) am now back in again even if at rather too much (34)

Grrrreat news, what a bonus. 40p coming soooooooon! 8-)

Baobab has released its independent consultant Coffeys assessment of the Exploration Target at its Monte Muande magnetite/phosphorus joint venture project, which is 203-250Mt at a grade of up to 15% (cf our estimate of c 220Mt [55%] at a grade of c 20% Fe). However, Coffeys assessment only considered mineralisation to a depth of 40m (the limit of previous drilling) and it notes that it is reasonable to assume that deeper drilling will encounter further mineralisation. It also indicates an upper 7% grade limit for phosphate rock (where 1% phosphate is approximately the equivalent to 1% Fe in value), suggesting that a combined magnetite/phosphate operation may be viable. Finally, it highlights the existence of 3-5Mt of eluvial material (grade 45-55% Fe), which could potentially be upgraded to a direct shipping ore (DSO) product to provide early positive cash flows in any subsequent development.
Baobab does not intend to develop its mine alone and is looking for a partner before completing a BFS. At 25.75p, it has an EV equivalent to c US$5.12/t JORC iron. Pro-rata, the higher resource valued at the industry average valuation implies a share price in excess of 1"

50p coming sooooooooooooon!! 8-)

Spectacular!!!!!!!!!!!! As Ben james says. Cynic hope you didn`t sell out on the last little dip. 8-) 50p coming!!

no i didn't ..... i tried to buy some more the other day, but could not get at the price i wanted, but have enough

Couple of pence here and there isn`t gonna make much of a difference when its a pound +. Just waiting for another 5 grands worth of funds to free up this week, then another top up for me 8-)

What a fantastic stock, I'm up 41% this month alone, tiz in my Sipp.
50p next call?!!

Keeps on rising......looks like a mine, with early cash flow perhaps, and that always sends shares up....might jump not by one penny but in 5 to 10p a go if the steady rise continues...and it looks as if it will....

there's a danger that we (the lemmings) get totally carried away by the hype

Cynic, Once we get more jorc news, which isn`t to far away. It will all be fact not hype...... I personally think we could be looking at 1.00+ here at some stage. aimvho..dyor

yes, except that bao cannot afford to develop it, so they'll have to sell at least part of the biz in one guise or another ..... it must also be several years before production comes on stream

cynic do you mean this is a pie and gravy tomorrow share?

i really don't know ..... thanks to Number2 Son, i was in ..... i subsequently sold out (he didn't; silly boy not to bank any profits, as i told him) and later bought back

i am currently undecided what should be my next move - it won't be to buy more at this juncture

At approx 40p / share per 100mt FE in the ground (based on industry averages), the following is quite possible, based on drill results and RNS's to date. Based on the programme of works this year:

May, June, July - Massamba group Trend Jorc expected - 300mt
August - Tenge/ Ruoni, after yesterdays news - 300mt
October - Singore - 100mt

Thats an estimated Jorc'd resource of 700mt by October, or 2.80 / share before dilution.

That doesn't include the resource at Monte Muande or the other resources such as copper (drilling to be commenced in July), gold, coal phosphates etc.

excuse me for asking, but aren't goodies in the ground pretty much worthless until you get the damn stuff out?

cynic does that apply to the likes of RKH as well?

Cynic,

If they are worthless we are currently overvalued by 43p.

All other exploration co's are worth nowt also.

Stop being silly!

The valuation I gave above is based on the industry average for resource in the ground.