They're a dozy lot down at IC. Today they have a piece on the flotation of Asia Energy plc on AIM. Chunky coal deposits in Bangladesh. Market cap. expected to be about 30m.

What IC fails to notice is that CBM has a 55% stake in AE. 55% of 30m wd be 16.5m.

CBM's current total market cap at 63p is er... about 16m!!

So we get Western Canadian Coal (about to float on AIM), Pageton Coal in West Virginia, AGD Mining, Subranum Gold in Ghana, and CBM'z most recent acquisition Zhibek Resources (again planned to float on AIM in 2004) FOR NOTHING.

Fill your boots folks, this is set to double.

Now do you believe me guys!

beufort1,

Nice call!

Exactly what percentage of AEN do CAmbrian hold BTW?

And what percentage of Cambrian do RAB hold? (I hold RAB)

beaufort1,

Ok just read that Cambrian hold 27% of AEN.

Yes that's right Andy - don't know about RAB.

Don't forget that CBM holds about 50% of Western Canadian Coal Corp, which floats on AIM on Thurs. So more upside to come.

Up like a rocket today--wish I'd bought some. I'm watching and waiting now!

And CBM marches ever upwards. Both AEN and WTN are soaring ever upward.

Hate to say this, but I told you so. CBM now 210p

Market cap of CBM is now about 110m

CBM up 17% so far today.

asia energy flying

Buy note out from Cazenove on AEN today.

CBM has come onto my bottom feeders watchlist after a price drop was followed by significant director share buying. And the news all looks good: a five fold increase in profits was reported at the end of March in addition to the earlier items noted on this BB. Hope that others are watching.
sd.

Hi Squidd,

Yes agree with your analysis. I think it still has a little way down to go. Hard to judge where the bottom will be but there is little resistance until about 1. Long term its ridiculousy cheap. The SP has always been very news driven - AEN and WTN being its main shareholdings. It now also has COIL and also the linked company CLN which it does not currently have a shareholding in.

The share price fall is way overdone.

B1

beaufort1: Thanks for the additional information. I rarely gauge the bottom exactly, so I try to straddle it. I hope soon to be looking to scatter takings from ELA - an earlier bottom feeders ready meal - and CBM is high on my watchlist.
sd.

Having looked again at the charts, I can see no sign of the bottom; the good news and directors buys have been brushed aside and now both the SP and OBV are rolling speedily downhill. In the present gloom over AIM , there must be a lot of investors who came aboard last year at between 40 - 100p, still sitting on decent profits and looking nervously at the exit. So I think this could stay on my watch list for some time.
The shape of chart I like to watch is IGE, and readers interested in recovery stocks could have a look at exchanges with PpP on ELA and APH.
sd.

Shares Mag Today:

"Cambrian Mining is becoming increasingly vulnerable to a hostile takeover bid.........Cambrian's investment portfolio is worth close to 162 million, more than double its market value of 77 million.......the shares look too cheap".

Market value is actually about a 100m. There are about 78m shares in issue.

This has come up on the radar again following more share buying by a director.
The CEO has got to get it right sometime and it could be now - the chart certainly looks very interesting.
Any views.
sd.

Yes looks as though its bottomed out for now. At the moment the SP depends largely on the fortunes of AEN and WTN

Recovery seems to be taking hold - fairly respectable volumes as well.
sd.