Better carry on here Cynic....not in yet but very interesting....how's that bridge across to China getting on ?

more to the immediate point, as i have posted 2/3 times in recent days, is that ORE sp is currently at 10%+ discount to the POG prevailing conversion price ..... you don't want an almost risk free 10% gain? ..... ah well

Cyners in both now. cheers

is there a timeline for this all share offer?

result were pretty crappy due to closure of operations due to low ore prices ...... however, following is the bit we have been waiting for

On Feb. 6, Hambro announced an agreement for an all-share offer for Aricom, which was worth about $523 million based on closing prices on Wednesday.
Aricom said on Thursday it expected the transaction to be completed in late April.

so jnow just a simple calc to determine whether the (time) discount on offer (about 10%) is better than putting your money into POG or even elsewhere

conversely, one could argue that POG is about 10% too high and being supported until after the event!

POG up smartly today, against the trend, dragging ORE with it ..... the reason is clearly per the announcement today, which i am afraid i post in full as i am too damn tired to edit much - just got home from the biz trip in the sun!

i know i hold these, but it now looks an even stronger case to buy ORE as a cheap way into POG


Aricom has been holding talks about financing a key project with Chinese parties ..... Jay Hambro said that China's stimulus plan was starting to show results, but he expected benchmark iron ore settlements would fall 10-20 percent this year, marking a bottom in prices.

"My (JH that is!) personal view is that is that we are a much more viable partner in the merged company than we are as a stand-alone."

Aricom agreed earlier this month to be taken over by POG in an all-share deal worth about $530 million, giving debt-heavy Hambro access to Aricom's cash of $257 million.

Other Chinese parties may be more interested in financing K&S once Aricom is back with Hambro, which has a long track record of successfully launching mines, he said.

Mining at Aricom's first operation, Kuranakh, started last year, but shipments were suspended in December because demand had virtually evaporated .... Sales will resume after a processing plant is completed in the second half of the year, which will enrich the ore to a grade of 65 percent from 45 percent.

Jay Hambro said some people had exaggerated the effect of the global downturn in China, where economic growth was 6.8 percent in the fourth quarter.

have hacked yesterday's post 183 a bit to make it more easily readable and digestible .... not my usual 2-liner i'm afraid!

"On 6 February 2009 the Independent Board Committees of Aricom plc ('Aricom') and Peter Hambro Mining Plc ('Peter Hambro Mining' or 'PHM') announced that they had reached agreement on the terms of a recommended all share offer to be made by Peter Hambro Mining for the entire issued and to be issued share capital of Aricom. The offer is to be implemented by means of a scheme of arrangement ('Scheme') and is subject to the satisfaction or waiver of the conditions of the Scheme and to the approval of the High Court and of both Aricom and PHM shareholders.

On 9 March 2009, Peter Hambro Mining announced the posting of a circular to PHM shareholders with the notice ('Notice') convening the Extraordinary General Meeting to allow PHM shareholders to vote on the resolutions required to approve and enable implementation of the Scheme by PHM.

The PHM Extraordinary General Meeting was held today and both the resolutions proposed, as set out in the Notice, were duly passed on a show of hands.

It is currently expected that the Scheme will become effective on or around 22 April 2009."

for the first time in a year, POG's chart is challenging 200 dma, but even a year ago, it did not stay above this level for very long ...... watch carefully, as i shall do, to see what happens next and whether any action should be taken on current long positions either in POG or ORE