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

bouncing back after early profit taking, does not need much to turn around

“As from today, AIM listed shares are allowed in ISAs. We have searched AIM listed companies and identified the two stocks which, we believe, have the most potential to increase their market capitalisation 15-20 fold within three years.

Both stocks have huge resources, over 6 billion tons of coal and nearly 1 billion tons of iron ore, but tiny market capitalisations £7m and £36m.

The first stock is priced at 1.2p and has analyst price targets of between 16p and 25p (a potential rise of between 1233% and 1983%)

The second stock is priced at 12.5p and has analyst price targets up to 221p (a potential rise of up to 1668%)

Both stocks have cash in the bank and impressive strategic partners – the first stock has CNOOC as a partner (one of China’s largest oil companies) and strong support from the Australian Government; the second stock has IFC (International Finance Corporation) as a 15% shareholder, strong support from the Government of Mozambique, and is likely to announce a major JV deal with a global integrated steel company (e.g. Jindal, Posco and Nippon).

Strong newsflow is expected from both companies over the coming months which will help trigger and sustain substantial share price re-ratings.

The companies are Altona Energy (ANR) and Baobab Resources (BAO)

Further information and analyst reports:

www.altonaenergy.com
www.baobabresources.com ”

Todays chart

">

The large marked down this morning is an opportunity for this recovery stock

only for mugs!

Someone does't know how to make money

12.75p to 13.50p already

i've made plenty here in the past and banked the profit .... and then watched the muppets who hung on, chuck it all down the drain

since you're such a smartypants, why don't you mention that the spread is 1p (and sometimes more), so your 0.75p rise about which you chortle is pretty much a waste of space

Someone is calling investors " muppets "

the threads I have looked on the past, you sound like the BIGGEST idiot in this place as I said above not knowing how to make money.

just retoric like a "cynic" using this place as a way to make coversation ( lonely soul ) my take

Chinese imports of fe ore jumps 7% in July

Share price rise accordingly - marked up - but then some investors take profits at this point

is that so

On a day of volume, the rise is on for good reason

On the charting front
an Inverted HEAD an SHOULDERS is developing
getting closer to the 50 days MA

Now just touching the 50 days MA on share price being at 14.375p

Singapore (Platts)-- 12 August 2013
Chinese buying spree pushes Asian spot metallurgical coal prices to 3-month high

Strong buying interest in China over the extended weekend pushed Asian spot metallurgical coal prices substantially higher Monday, as hard coking coals traded $3-4/mt higher than Wednesday last week, market sources reported.

On an FOB Australia basis, Platts assessed premium low-vol (PLV) HCC $3.50 higher at $140.50/mt, the highest since mid-May, and second-tier HCC normalized to HCC 64 Mid Vol specifications $3 higher at $127/mt. On a CFR China basis, PLV was assessed at $153/mt, and HCC 64 Mid Vol at $139.50/mt.

Spot transactions concluded over the last few days illustrated a continued bullish turn in market conditions, particularly in China.

Headline deals included an Australian premium low-vol HCC reported done last week very close to $155/mt CFR China for part of a Capesize vessel loading in early September, and a very prompt low-vol PCI at around $125/mt CFR north China, also part of a Capesize.

Good call - ontheturn -

back from a break and looking pretty good as hard coal prices are at a 3 month high

a truly wonderful call by that great promoting pundit on here ..... sp has now dropped back to 13 mid .... no wonder he's kept so quiet

Shares go up and down, almost as fast as someones Knickers
Market has been down for a few days now does not help FTSE lower by 50 points
Is cynic allways so cynic, or is a sour grapes person?

certainly not sour grapes .... i made my money from these ages ago and got out .... cynical if you like, but perhaps realistic would be closer

More info on RNS

http://www.itnews.it/news/2013/0820090003770/baobab-resources-limited-lon-bao-joint-venture-heads-of-agreement-with-auroch-minerals-asx-aou.html

--------

Well it looks like they are working to plan, they said many months ago that they are just going to focus on Tenge and it looks bit by bit that they are moving off all the little extras

JOINT VENTURE HEADS OF AGREEMENT WITH AUROCH MINERALS
20 AUGUST 2013

Baobab Resources Limited (BAO: AIM) ('Baobab' or the 'Company') through its wholly owned Mozambique subsidiary Capitol Resources Limitada ('Capitol') is pleased to announce that it has signed a Joint Venture Heads of Agreement ('JV' or 'HOA') with Australian exploration company Auroch Minerals NL (ASX: AOU) ('Auroch' or 'AOU') in relation to the northern portion of the Company's Mundongaura Exploration Licence 1022L (the 'Area of Interest' or 'JV Area') in the Manica Province, Mozambique. The HOA is conditional upon Auroch completing due diligence before 30 Sept 2013.

HIGHLIGHTS
-- The Area of Interest encompasses the northern 18km(2) of Baobab's 145km(2) 1022L Exploration Licence and overlies the along strike structural continuations of Auroch's 3Moz Manica Gold Project (3990C Mining Concession).
-- The Area of Interest excludes the Mundonguara copper/gold/nickel trend where exploration programmes completed by the Company during the 2007 and 2008 field seasons culminated in the estimation of an open ended 3.1Mt JORC inferred resource @ 1.4% Cu.
-- Auroch is earning into the Area of Interest via an unincorporated Joint Venture Agreement. The HOA has a four year, two-stage investment structure:
-- 2-stage investment of up to US$1,500,000 to earn a maximum 80% interest in the JV Area. -- After completion of the second stage work programme Auroch has the option to purchase Boabab's 20% interest in the JV Area on terms mutually agreeable to both parties. Alternatively, Baobab may participate in further work programmes on a pro-rata basis.

Commenting today, Ben James, Baobab's Managing Director, said: 'The JV with Auroch opens up an exciting opportunity for both companies to realise the greater gold potential of the highly prospective, yet under-explored Manica Greenstone belt. The pedigree of Auroch's management team is impressive, with demonstrated experience and success in developing precious metal assets in southern Africa.

'Baobab retains exclusive control of the Mundonguara copper/gold/nickel trend where it has focused its exploration efforts to date. The Company is considering a number of funding alternatives to add further value in this exciting corner of Mozambique.'

Refer to my post number 423 when it was 22p a share -
I TOLD YOU IT WAS FOR GAMBLERS and TO GET OUT

I hope to be more right than wrong and that small difference makes my profits.
If you are really after profit, not just excitement, be very cautious.

I would still wait for BAO to start earning some actual profits rather than expectations.

comments ?????