Hi,

What are peoples opinions of this company seems to be doing well, big demand in China:

http://news.bbc.co.uk/1/hi/world/africa/default.stm

Anyone holding this share?

Cheers

sp has suddenly got excited, and decent volume - norm = 11.5m; current = 18m; finished at 23.5m

Mali to Spend $800 Million Boosting Energy Production (Update1)
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By Frederic Tomesco

June 10 (Bloomberg) -- Mali plans to spend $800 million by 2013 to triple power production and help boost output of gold and bauxite, said Energy and Water Minister Mamadou Igor Diarra.

Our goal is to triple our electricity potential within four years, Diarra said yesterday in an interview at the Economic Forum of the Americas in Montreal. We have a major power deficit. Without energy, development will become very difficult.

Mali has the capacity to produce 200 megawatts of power a year through a combination of hydroelectric dams and thermal plants, Diarra said. New facilities, including two dams on the Senegal River, may provide another 400 megawatts, he said.

About 70 percent of the financing for the projects will come from the Mali government and loans from institutions such as the World Bank and the African Development Bank, Diarra said.

The remainder may come from China and India, from whom Mali has received very attractive offers, he said. They are offering financing as long as their companies can take part in the construction.

Mali is Africas third-largest gold producer after South Africa and Ghana. The country also produces bauxite, iron and manganese.

Camec Discovery

One beneficiary of the planned expansion in power output will be Central African Mining and Exploration Co., which said last month it discovered a so-called inferred bauxite resource of about 439 million metric tons in Mali. Mining cant start until the bauxite deposit is connected to the countrys power grid, Diarra said.

Camec only needs 30 megawatts of power to be able to operate the deposit, but we cannot even give them that, he said. This is a project that would provide work for 40 years - - can you see how absurd this is?

Due to the power deficit in Mali, companies like Canadian miner Iamgold Corp. have decided to establish their own generation facilities to ensure sufficient energy.

Heightening the need for more power, Mali expects gold resources that are exploitable through open-pit mining to be largely depleted within three years, Diarra said.

We are going to need to go underground to keep mining gold, he said. But to go underground, you need energy.

To contact the reporter for this story: Frederic Tomesco in Montreal at tomesco@bloomberg.net

Last Updated: June 10, 2009 04:43

Over 6 million traded this A M on heavy buying

Today bouncing from the retracement

That is my text on the UPS thread........

UPS

CFM 11.125p ( 11 / 11.25p )
reason: A copper and cobalt exploration company, last month discovered bauxite resource of about 439 million metric tons in Mali. Large volume today with share price bouncing from the last retracement, Indicators are all now at oversold and share price at lower Bollinger Band

Charts- Intraday

3 month candlestick with volume

3 month Bollinger Bands - 50 days MA - Indicators

5 days

SP trying to go higher as the VOLUME reached record levels and still 2 hours to go.

another move up today and...

From tthe FT- online version under equities / small caps:

Central African Mining and Exploration, which is chaired by former England cricketer Phil Edmonds, added 9.1 per cent to 12p on talk it could be a takeover target for Brazils Vale or a Chinese materials group.

BRIEF-CAMEC says gets offer approaches
16 Jul 2009 - 10:58

just through on Reuters

That is right.........

CFM 15 - 15.50p +3.25p

Central African Mining Statement re Possible Offer

Statement re possible offer
CAMEC notes the recent speculation concerning a possible offer for the entire
share capital of CAMEC.
CAMEC confirms that it has received preliminary approaches concerning a possible
offer for the entire issued and to be issued share capital of the Company. These
preliminary approaches may or may not lead to an offer being made for the
Company.

anymore news on CFM

Like what?
The company has said about talks, one now has to wait and see if the bid comes along or comes to nothing.

There is plenty of speculation who is or are the bidders and how much would be for

What price are people speculating on Master?

anything between 16 and 160!

Thanks cynic!

damn fool question deserves a damn fool answer

germans1

re -What price are people speculating on Master?

the talk is about 22p, but others a bit too bullish are looking for 25 to 35p

Thanks Master! Might hold a little longer then.

guys go too nostra terra oil gas/NTOG put some links in going to heat up in the next few weeks.buying @0.22

tescoma - if it's anything like your reccomendation of FRR I won't be taking much notice, twat

From the FT.com ............

David Stevenson: Into Africa
Published: July 17 2009 16:04

As investors begin to re-engage with risky assets, such as emerging market equities, it is fascinating to watch the slow rekindling of interest in Africa.

Late in 2008, the wheels came off the decoupled, uncorrelated markets thesis, which had suggested that frontier markets were uncorrelated with developed world stock markets and powered instead by domestic growth. In reality, supposedly inflation-proof commodity-based hard assets turned out to be hugely correlated with global economic confidence and appetite for equity risk. So, when demand fell, African mines started closing at a brisk pace. Everyone quickly dumped their frontier market assets. ...................

For example, Camec, the Aim-quoted copper and cobalt mining company, has spun off two London- listed businesses: AgriTerra (ticker symbol: AGTA) and African Medical Investments (AMEI). .............

http://www.telegraph.co.uk/finance/markets/marketreport/5852250/Miners-lift-FTSE-for-a-bullish-end-to-the-week.html

From the TELEGRAPH - MARKET REPORT

Miners lift FTSE for a bullish end to the week

The FTSE 100 stormed ahead on its fifth straight day of gains, rocketing up by 6pc over the week as investors celebrated Goldman Sachs' stunning results and "the most positive housing report in ages" out of the US.

Heavyweight mining companies helped the blue-chip index to its biggest weekly rise since January. Kazakh miner Eurasian Natural Resources Corporation (ENRC) was the top riser, up 41 at 762p.

Investors welcomed reports that ENRC could be in the running to buy Central African Mining and Exploration (Camec). ENRC has a wealth of cash on its balance sheet that needs to be put to work, said analysts.

Rumours swirled that Camec - CFM - could fetch up to 30p a share. Investors, however, appeared unconvinced and the shares fell back 1 to 15p following a strong rally earlier in the week.

Miners dominated the leaderboard. Xstrata jumped 28 to 690p, Vedanta picked up 61p to 15.02 and Antofagasta gained 22 to 671p.

Their strength bolstered the FTSE 100, which closed 26.91 higher at 4388.75. The mid-cap FTSE 250 closed up 26.55 at 7580.66. .............

Market report -Telegraph