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

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

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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 ?????

thoroughly agree with you (see also my posts from feb '13) ...... this share is for the likes of the muppets who buy into FTO and CRA (which at least has a little more chance)

this refers more to panto's post... it's an interview with the managing director on the Auroch deal webcast

Talk is cheap from the ones above, one should give credit to investors who know when to buy and sell

BUY low and SELL high
nothing goes into a strait line
If trend is broken sell at that stage
put a stop loss
etc.

I never sold at the top, but because I already sold before
now I accumulate at this low prices
and I am sure many investors will make money from here

I done this before and history will repeat again is my motto

go back to january/february and i think even a purblind you (ewe?) will note that i knew very well when to buy and sell ..... so what do you have to say for yourself in that respect?

cynic is this your stalker (MRSI)? at it again?

no idea and not really fussed anyway .... as you know, this site and similar, are rife with people in rose-tinted specs who do nothing but get excited about stocks, and with never a hint of a reality check

very volatile but holding above that 13p by now support as buyers place orders at those levels

read the last post with a funny feeling

Yesterday there was a post saying >>>>>>>

Who are you calling a stooge?
The cap fits for " cynic and halifax " something like father and son, allways together

Investors should do their research and buy at the right time and price, what those two say allways take it with a " pinch of salt " would be my advise.

or just ride the momentum or avoid entirely!

yesterday i see no post from anyone

They say - too much salt is not good for your health -
I'm using a bit more of peper instead

thanks for the advise

13.625p +1p

Director Deals - Baobab Resources PLC (BAO)

Jeremy Dowler, Chairman, bought 75,000 shares in the company on the 30th August 2013 at a price of 13.38p.
The Director now holds 8,740,169 shares.

Some movement up after being lower at the start, it has not been higher for some time.
Indicators rising give an idea of wanting to move higher