They're a dozy lot down at IC. Today they have a piece on the flotation of Asia Energy plc on AIM. Chunky coal deposits in Bangladesh. Market cap. expected to be about 30m.

What IC fails to notice is that CBM has a 55% stake in AE. 55% of 30m wd be 16.5m.

CBM's current total market cap at 63p is er... about 16m!!

So we get Western Canadian Coal (about to float on AIM), Pageton Coal in West Virginia, AGD Mining, Subranum Gold in Ghana, and CBM'z most recent acquisition Zhibek Resources (again planned to float on AIM in 2004) FOR NOTHING.

Fill your boots folks, this is set to double.

SOMETHING NEW TODAY:



Funds News

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Framlington's Luckraft says investment opportunities abound
Thu Oct 13, 2005 9:18 AM BST



By Laurence Fletcher

LONDON (Citywire) - The UK economy's current difficulties needn't translate into tough times for the stockmarket, argues Framlington star income fund manager George Luckraft.

Luckraft, who runs the Framlington Monthly Income, Equity Income and Managed Income funds and who holds an AA rating from Citywire, notes the inflationary pressures in the UK economy as well as the continuing consumer slowdown. Nevertheless he sees opportunities to make money.

He commented: "There has been a definite slowdown, with oil prices acting as a tax out of consumer pockets. We'll see more of this as electricity and gas prices continue to increase.

"Oil is likely to stay above $50 a barrel for the foreseeable future with a danger that it could spike considerably higher if we get either unrest in some of the oil exporting nations, or we see new violence in Iraq. There's plenty of oil in Iran and Iraq but, with their regimes not particularly stable, it will be difficult to get the investment that's required there.

"I am concerned that the current oil situation will have a knock-on effect on inflation levels. This means that the Bank of England and the Federal Reserve may have to take action; the former not to take rates down, as expected, and the latter to take rates higher than the market currently predicts. Because of Hurricane Katrina, US interest rate expectations have been, I feel unjustifiably, pulled back substantially. However, I think that these will correct upwards again.

"The levels of growth we have seen in personal debt are unsustainable and, as such, the UK economy is going through a tougher time."

However he said: "Although it's not a great background for the UK economy, this does not necessarily mean it's a bad time for UK stockmarkets.

"Profit warnings are rising, and this will continue as the impact of squeezes of raw material prices and a slower consumer takes the edge off some of the expectations for corporate profit growth, cashflows are generally very strong and balance sheets are in good order."

Luckraft sees opportunities for skilful stockpickers in the high levels of bid activity, as Europeans use low interest rates to fund acquisitions in the UK. "Providing we avoid the pitfalls, we'll reap some benefits from bid approaches," he said.

He is steering clear of consumer stocks because of the tough consumer environment although he is keen on Topps Tiles which, whilst experiencing tougher trading conditions, has gross margins of over 60 percent.

He also likes sausage skin maker Devro, which he expects to benefit from the "predicted increase in sausage consumption in China", Renova Energy, which turns grain into ethanol, and Cambrian Mining, which has stakes in coal groups Asia Energy and Western Canadian.

08.40 01/11/05 close

LONDON (AFX) - Cambrian Mining PLC announced maiden dividend of 1.5 pence following a sharp rise in full year profit, and said it expects a significant rise in profits in 2006 following the sale of part of its Asia Energy PLC stake. Further, its 41 pct stake in Western Canadian Coal is expected to provide a significant contribution to earnings in the current year. In the full year, the company recorded pretax profits of 4.452 mln stg from a loss of 89,000, mainly from the disposal of non-core assets while sales rose to 718,000 stg from 30,000 the year before. Chairman Charles de Chezelles said: "We anticipate that operating profit will grow this financial year as the Dillon mine reaches a full 12 months of production, as AGD brings its gold and antimony mine into production in the first quarter of 2006 and the US coal group moves rapidly to achieve its production targets."

Just a note on this share which I have also put on the AEN thread

CBM is trading at over a 20% discount to its listed investments as at last reports in early Nov

It has a royalty of $1/tonne from the AEN mine in Bangladesh if that gets started. Assuming the mine figures from aen are correct

570m tonnes
15m tonnes mined a year from 2007
And a discount rate of 10%

The royalty is worth to CBM well over the market cap of the company

Add on to this its unlisted assets and this looks not a bad little place to be

that is an uderstatement. add to that the cash they have realized from AEN while retaining the royalty arrangement it is very undervalued. i am in at this level and would look for 250p

there's something up

all quiet then deals coming thru apace since about 12.50

AEN spikes 10% on similar trading ??

Someone knows the Bangladesh decision on the Phulbara mine ?

AEN collapse leaves CBM with what is likely to be worthless roylaties

With there biggest holding being whacked on a share price front -- WTN -- look like the stock will tread water at best

Management remains excellent and don't forget they got out of their whole AEN stake with profits that have effectively been a company maker

NOt holding since May but will keep watching -- WTN remains the big negative and coal prices still slide

Why no one has discussed this share today,high volume,highest gainers,i mean one of them with a take over chance.

ateeq, if you check out the WTN thread i,ve compared both over the last few days.
cyril

not a bad day especieally profit taking from yesterdays hike,could see another surge once the profit takers are happy with there profits.

SP ticking up very nicely to recent high,some way still to go imho?

My last post said it all (some way to go, 140p at the time), 192p at present and still rising.
A quick summary
CBM owns a large slice of WTN (which it has up for sale), and is presently in nogotiations with CLN (almost started a thread for CLN but with no interest, thought better of it),which has moved from 38p to 49p at present.
Coal at present is one of the most profitable commodites at present and is doing
very nicely for me(CDN up to 78p) and i find it a shame that so little interest has been shown.
cyril

http://www.cambrianmining.com/Doc/Presentations/MayRoadshow2008.pdf

Yes,so little interest(post41), up 16% today at 227p and could go a whole lot further?
aimo
cyril

Well done
looks like it might have legs to 270
quiet boards always a good sign :-))

Niceonecyril, well done on your research. Lurker on Moneyam.Holding CBM.

As we all know CBM is trading well below NAV of 4+.

WTN @ 4 a share means 348 millions cash to CBM & @ 5 means 435 millions cash to CBM.

CBM 215 millions at close today.

CBM have 87m shares in WTN closed 430p; 35% of CLN closed 66p ; 28% of EGB ;50.5% of Xtract ; AGD 100pc & 9 other investments.

Flying again this am, could we be haeding for 3 by the end of the week?
cyril

is this worth buying today?

Great article on
http://www.minesite.com
You need to register( well worth it and free) to read the article.
cyril

With CBM, about to buy CLN i thought it wprth posting todays RNS on here.
http://www.investegate.co.uk/Article.aspx?id=200806160700047281W
Looks like a barguin for CBM?
cyril

Getting betterer and betterer.
http://www.investegate.co.uk/Article.aspx?id=200806170951328694W
cyril