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

There is more than one liar about

now " chuckles " joins the party on that list, not only here but on the Football thread.........bias as usual

re - BLVN

two days and expecting someting for me to say ...... fool give it time

the world was made on seven days they say.

only you took a day to make, that is why they forgot to put a brain on that square head of yours

Uptrend and BREAKOUT

London 22 January 2013 14:25

UK-listed Baobab Resources owns the only iron ore project in Mozambique’s booming coal region of Tete. Steel First met with md Ben James in Africa to discuss the challenges facing the project.

the Tete region boasts some of the world’s largest untapped resources of coking coal, an essential ingredient in the steelmaking process.

Tete’s coal riches have attracted many of the world’s largest miners to the region, including Vale, Anglo American and Rio Tinto.

For its part, Baobab plans to produce pig iron, vanadium and titanium from its Tenge/Ruoni project in the east of the province.

Focus on pig iron
The miner’s main focus is on becoming a major producer of pig iron, a refined steelmaking raw material which is priced at a considerable premium to iron ore.

Baobab estimates that it will be able to produce pig iron at $200 per tonne fob based on a production rate of 1 million tpy from its Tete project, to sell to the Chinese market.

After raising its JORC-compliant resource by 38% in December 2012 to 665 million tonnes, the miner plans to produce as much as 4 million tpy of pig iron, an upscaling of operations which could bring down production costs considerably.

These ambitious production plans would make Baobab the world’s largest pig iron producer, seeing it overtake pig iron-producers in the CIS countries and Latin America.

Investment
The World Bank’s private-sector arm, International Finance Corp (IFC), agreed to invest as much as $5 million in Alternative Investment Market-listed Baobab in 2009.

A definitive feasibility study is set for completion this year. Project financing would follow early in 2015, and construction would take about 24 months for completion at the end of 2016.

Baobab is now looking for a partner to bring the Tenge project into production.

Benefiting from its proximity to the Zambeze river’s hydroelectric power source and the Sena railway link, Baobab is confident that its Tenge project has the right fundamentals to attract a project partner.

Indian steelmaker Jindal, which has its own operational coking coal mine in Tete, is aiming to build an integrated steel plant in the region, Jindal country head Manoj Guta told Steel First in November 2012.

Mozambican miners have been badly affected by problems with infrastructure development, however.

Rio Tinto’s ceo and strategy head resigned from the mining major in the third week of January 2012, on a $3 billion impairment incurred by its Mozambique operations. The company’s chairman blamed this on infrastructure development being slower than expected.

Magic Joe,

We have received a number of complaints with regard to personal abuse in your postings - please consider this a final warning, should it continue, access will be removed.

Ian

MJ - you're a complete ass ..... i can't be bothered to respond your your latest inaccurate abuse, even if it is total garbage .... as i have said before, just stick to your pretty pix and comment which are generally interesting and informative, even if not necessarily to be followed

Balerboy. You're in profit! Hold tight ways to go yet. 8-)

I've cracked open a.........cup of tea in celebration.,.

i am now watching very closely with a view to selling half or even all ..... it's tempting to be greedy, but we all know how dangerous that can be

seems reluctant to move on up, have stop at 31p on 50%.,.

i may be reading this wrong but this is an MM-only stock, of which there are 8 ...... 3 are bidding 31.75 and a further 3 are bidding 31.5 ..... i therefore wonder if they are just trying to force some stock onto the market

MJ may give a better read - if he can keep a civil tongue for once

Chart says more to come.,.

">

going back to my "simpleton's chart" (post 322), 34p looks the next hurdle ...... of course, with this massive surge, there is always now going to be the very real danger of a dump

know what you mean......i had one this morning.,.

Sorry off topic for the benefit of the resident loon.

Hammers are generally reversal candlesticks and the one magicpants referred to on the BLVN chart was supposed to be an indication that the downtrend was coming to an end and a change to the share price fortunes could be expected.

But on it's own a hammer is meaningless, it needs further evidence, such as bullish candles immediately afterwards. The hammer on the BLVN chart was followed by a continuation of the downtrend and is now rendered invalid.

Not always silly.

Go bow wow :)

go back to your carpentry you silly old fool before someone comes out to crucify you :-)

out of half at 33.25, not least because i am en route to sunnier climes for the rest of the day

out at small profit.,.

Not selling any just for the record. 8=)

not that brave, gl blanche.,.

short term target for me is now end of Feb. based on rns today.