PMHL was floated on AIM in January 06 with a market cap about twice that of WCC.
It's figures (go to www.londonstockexchange.com) to December 06 were pretty healthy and they even appear to be paying a divi.
In common with WCC, the shares look pretty illiquid (RNS = 3000 against 2000 for WCC) and volumes light, though significantly greater than for WCC.

Sunday Times brief specific comment of 3rd June 2007 copied below - it was part of a very much longer article about investing in China .....
Prosperity Minerals - China has become the worlds largest cement producer with an output of 1 billion tonnes a year. Domestic demand is expected to reach 1.2 billion tonnes by 2010. Cement is expensive to move around so it needs to be made by local firms such as Prosperity, one of Hargreaves favourite stocks at 153p.

At time of writing I have not yet put in any money.

Chart looks very encouraging insofar as a nice golden cross, albeit only bewtween 25 + 50 dma has now formed.

In summary :

305 million pounds banked and another 50 million coming in June.

The shares held by PMHL of another company in Hong Kong are worth 70 million pounds today.

The remaining iron ore business is worth 70 million.

495 million pounds (of which 425m is cash and investments).

Present market cap is 235 million pounds.

Company has in place a "share buy back" scheme which can now start from next week.



Makes this what is called a "no brainer".

Proselenes
I do not own these shares but I much regret following you into WCC. You were talking sense then. It would have been nice to have been in this one at 60p.
What is your projection of the share price in June?
Lets have no waffle. This will be serious money.

I would target in the range of 250p to 300p (but not perhaps by June, maybe later in the year).

Hopefully soon the "share buy back" will commence which will strengthen the price. Obviously with the present market cap below cash in the bank when the company buys back shares they are in fact increasing the cash level per share, so they make money on it.

Everything hinges on demand for shares and the buy back, as is always the case with share price rises, they come with buying.

Thanks for that. I will keep a close eye on it.
RGF looks a winner if you can patientlly follow a rise in the sp.
WCC is too dear for me now. I am searching for low price shares like PMHL at 60 p. Have you an opinion on XEL and STVG ?
Any others that I should seek out ?
Best W

I was into XEL at just over 20p, made lots on it (on paper) and not selling, waiting for more.

Not really looking at new things presently, we are going into the summer lull, so will look around late July for bargains.

a silly question i am sure, but if they no longer have a cement biz, what on earth do they have apart from a stack of cash?

A profitable Iron Ore business (should be an update on that soon) and also around 70M pounds of shares in another company.

:)

As an update I sold out of this one recently. Better to take a small profit here as I was becoming concerned over no buy backs and no support.

The news yesterday also worries me.

They purchased 5M of assets for 10M.... and its a "related party transaction".

If more of these "related party transactions" come along I think there might be a rush for the exit.

As I suspected, lots more "related party" transactions to come.

Also it seems the buyback is in question and also they are committing to "China Property" as the main business.

Think many more people will sell out now perhaps ?

New article and analysis, click HERE