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

did i miss the sharp rise?

post 393 :-))

i have no need .... i own up to mistakes, and assuredly this was not one - read 392

I'm only joking but it could be read that you were thinking of shorting (post 392).
Then post (393) some three days later if you shorted later that day, your post states you indeed shorted . The day of this post the share happens to lets say crash after the three days before were fairly modest falls. It can be read this way, not that I am reading it that way. In other words not to be picked up about it, would be best would it not, to post ones actions not three days later?

Steady DC you'll start him off on one...... ;)

Very fair what I have written . Put it another way - An oil company is a few days away from TD. I come on the thread and say I might come in on this one. Three days later no oil found, the share crashes. Then when I'm asked, I say no did not come in in the end.
Then the same again on another oil company near to TD. I write I may come in on this one. A few days later they announce millions barrels of oil found, the share races north. I then write on the thread I was in. How long can I do this before questions are asked. lol

it's ok DC .... obviously a bit tetchy yesterday :-)
you're right, and it is very rare for me to post like that after the event, but i was just (too) pleased with myself for having made another correct call

Lets forget, fine with me. :-))

And talking about porkies, there was a few strange exchanges over here on the past
So if one wants to be taking seriously
-cynic - You better put your house in order, unless you want to be tested once again

After all past post questioning your trades seem very reasonable, as the reporting was after the movement has occurred to your benefit. People can put 2 & 2 together without having to go to high school.

best wishes
menorca1

magicjoe - 25 Jan 2013 09:44 - 313 of 402

re - hindsight is wonderful stuff

It all comes to the word LIAR
and you belong to this category ...... cos you say it well after it happens ( better when the share price is well up - I cought you with examples several times)

I do say it at the time and give the reason for.
That is it as clear as the water from the RED sea

edit more ............

cielo - 14 Feb 2011 10:54 - 67 of 409
BIG WANKER ( B~stard ) done it again below.... yesterday

every time a share price rise ..... bought yesterday, no honesty and decency is what you have not got, if you want to tell us you bought say it at the time otherwise keep it for yourself .....

cynic - 02 Feb 2011 10:56 - 60 of 66
glad i bought back in yesterday - provable if the wankers start questioning my honesty again! .....

i have no idea who menorca is, but of course if he had followed down, he would also have read my "mea culpa" that followed

bugger! ..... just closed short position at a touch above b/e ..... could have bought back at 23.50 this morning (boo hoo) but for no obvious reason sp has been creeping up all day .... no obvious reason and not even huge volume, but not worth the risk of it all going pear-shaped

Mining Sector: Mwana Africa up after 30% rise in JORC gold resource

Shares in Mwana Africa (LON:MWA) rose after it revealed its JORC-compliant gold resource had increased to 2.6Moz, up 30% from January.

The calculation was based on a cut-off grade of 0.5 g/t, and included a maiden resource of 442,903 oz at the Lelumodi discovery.

At the Zani-Kodo project, the main indicated gold resource had increased 22% to 547,838 oz. There, the main inferred gold resources rose 8% to 1,023,292 oz, at an average grade of 3.51 g/t

"Metallurgical test work and preliminary mine design studies continue in parallel with ongoing drilling to define additional mineral resource at Lelumodi and the Kodo area," the company said.

The sector's biggest risers were Baobab Resources (LON:BAO) and Noventa (LON:NVTA) - up by more than 18% and over 12% respectively.

The biggest fallers were Landore Resourvces (LON:LND), Bischi Mining (LON:BISI) and GMA Resources (LON:GMA) - all down by more than 8% in late afternoon trading.

BAO 29.38 +5.75

Cashed Up And Building Resources: Baobab Is Now On The Cusp Of Delivering Proof Of Concept At The Tete Pig Iron Project
26th Feb

http://www.directorstalk.com/cashed-up-and-building-resources-baobab-is-now-on-the-cusp-of-delivering-proof-of-concept-at-the-tete-pig-iron-project/

Yesterday's from Proactiveinvestors >>>>>>>>>>>>

Baobab Resources sees all routes pointing forward in Mozambique
Mon 1:46 pm by Jamie Ashcroft

For some investors the jury is out on Mozambique’s promising Tete mining hub in light of Rio Tinto’s $3bn coal write-off there.

The write-off sent shockwaves across the African mining sector at a time when there are serious questions about the industry’s appetite for major growth projects.

According to Baobab (LON:BAO) chief Ben James, though, there have since been positive signs in Mozambique that the situation is improving.

Since Rio’s action - at the end of January - the region has seen significant developments.

Brazilian mining major Vale this month confirmed that a new railway link capable of carrying 30mln tonnes each year would go ahead.

Around 12mln tonnes of that capacity would potentially be available for third parties including companies like Baobab.

“The Rio write down was something of a reality check for the government,” James said.

“There is a possible fairytale opportunity here for Mozambique, but it will only come off with a lot of elbow grease and with everybody working shoulder to shoulder.

“So we now seeing the government, rather than taking a backseat, actually taking a much more proactive approach. And that’s wonderful news for companies like ours.

“The government is much more ready to pick up the phone, reach agreements and broker meetings.

“And that is also true of the majors, both Vale and Rio, too. They are being very co-operative with the juniors. We are showing that we can all work together to develop and define infrastructure solutions.”

Baobab is in the midst of the important feasibility and mine planning stage. After finding over 700mln tonnes of iron ore in the Tete province it now has to confirm if and how a mine can be built.

Crucially it must also secure a viable export route to take its end product to market.

James explains that a number of options are open to the company and it is continuing talks to secure allocation on one or both of the two key railway lines currently in development.

He says the company won’t be putting all its eggs in one basket and it is pursuing these opportunities through both the public and private sector.

“We’ve been talking with Vale for a long time and that route really looks like it is going to go ahead now.”

In fact, he says he'll soon be visiting the new rail spur construction in Malawi – where 2,000 men are building the railway through to Tete.

“The project is definitely happening. And there will be plenty of third party allocation on that railway line once it is commissioned.”

“What we are also seeing now is a very clear commitment from the international community, particularly the Japanese, for co-funding the east-west rail corridor.

“All of these things are in play."

Meanwhile, James also points to positive signs that the expansion and refurbishment of the Sena rail line is well underway.

Fellow AIM-firm Beacon Hill recently secured an allocation on this line, which connects the Tete province to the Port of Beira, at the mouth of the Pungue river on Mozambique's coast.

"We would expect to see the railway handling up to 6mln tonnes per annum very soon, and it will continue expanding from there on.”

“For us, the route through to the Port of Beira would present an ideal solution for our exports because of both the distance to the coast and the fact that we won't be constrained there unlike the coal miners.

“We would require Handymax sized vessels, which are operating very efficiently at the port at the moment. So while Beira is not an ideal port for the coal players, it is ideal for Baobab.”

James explains that Baobab has always had strong support from the Mozambique government and this is, in part, because the company plans will see additional industry being developed in the region.

Through intermediate smelting at the ‘mine gate’ it plans to add value to the ore it mines, processing it into pig iron.

“The government has been keen to endorse and support these plans.”

This pig iron operation can become one of the largest of its kind in the world, with the potential to produce up to 4mln tonnes of ‘pig’ iron each year over a 35 year life.

Currently the largest producer is a Russian operation that yields around 2.5mln tonnes a year.

The process requires significant volumes of coal, which in itself presents an opportunity given the region’s vast coal fields and its currently limited scope for exports.

Both Vale and Rio are keen to talk to Baobab about the coal requirements, according to James.

“Their thermal coal can’t be commercially exported at present. It is simply not viable for them. So it is just building up in stockpiles at the moment.

“We will need coal. We can take some of it off their hands. So we’re in the process of opening discussions about possible off-take arrangements and we are confident of getting very competitive mine gate rates for that coal.”

The development plans are now coming together with the fully funded prefeasibility study drawing to a close.

Last week, Baobab revealed the latest in a series of resource upgrades that have seen the Tete project’s resource base grow massively from to over 700mln tonnes from 160mln tonnes in the summer of 2011.

It has also made a bold step in kicking off a drilling programme and work on other ‘time critical’ elements for the definitive feasibility study.

This decision was made as the mine developer became sufficiently confident in the outcome of the ongoing pre-feasibility work.

From a financing point of view Baobab is in a strong position as it moves the project forward, James says.

The prefeasibility is fully funded and so is the ‘front end’ of the bankable work.

And in the meantime, wheels are now in motion on a process to select a strategic partner to help bring the project through commissioning and into production.

possibly something strange afoot .... though there is no published news, sp is again strong this morning with volume approaching 1.5m already

BAOBAB RESOURCES PLC
PYRO-METALLURGICAL TESTWORK PRODUCES LOW IMPURITY PIG IRON
4 MARCH 2013

Baobab Resources Plc ("Baobab" or the "Company") the iron ore, base and precious metals explorer with a portfolio of exploration projects in Mozambique, is pleased to present the results of pyro-metallurgical test work at its 85% owned Tete pig iron, vanadium and titanium project (the "Tete Project") in which International Finance Corporation ('IFC') hold a 15% participatory interest.

HIGHLIGHTS
-- Bench-scale pyro-metallurgical test work has confirmed the ability to produce a
low impurity pig iron product using Baobab's iron ore and local Mozambique
thermal coal.
-- The reduction and smelting test work has been conducted using coarse
concentrates derived from the Tenge resource block at the Commonwealth
Scientific and Industrial Research Organisation (CSIRO) laboratories in
Australia.
-- Reduction test work using a rotary kiln simulator has returned very promising
results with in excess of 70% metallisation being achieved after a short
residence time using locally sourced thermal coal as a reductive agent.
-- Samples from the rotary kiln experiments were inductively smelted in a crucible
to produce a clean disc of pig iron reporting 97% Fe (at 1.8% C) and containing a
very low level of titanium of 0.002%.

Commenting today, Ben James, Baobab's Managing Director, said: 'the results of the pyro-metallurgical test work mark a major milestone for the project. Two critical questions have been answered: will local thermal coals work in the reduction process and will the titanium separate from the iron when smelted? In both cases the answer is a resounding yes. We now possess very clear physical and empirical evidence to support the Company's conviction that we can exploit the project's unique access to low cost thermal coal at the licence boundary together with Baobab's iron ore to produce a high quality / low impurity pig iron at the bottom of the cost curve.'

market is not particularly excited by the news .... that said, it's a pretty soggy market, and to have any stock showing blue today is no mean feat

Cynic, Steady you almost sound as if you are beginning to believe. 8-)

he's in the red here.......

On the bounce after a 61.8% retracement from the last rise
and a 50% retracement on todays intraday price