This seems to be where the hot money is going at the moment so I'm in for a few. Tipped in the In/C last week has the potential to soar like Uramin according to the other side. I haven't put the house on it but fairly pleased so far since buying yesterday.

mp
Nice one.

cheers driver---I've taken profits on sola as well before cynic and GF start shorting!

Moneyplus: I like your comment re getting out of sola!

I read about CZA recently:

"It is basic arithmetic really: take the modern hunger for raw materials and add one of the relatively few opportunities for a merger or a takeover and the result is a rising share price. In this case, the focus is Coal of Africa, which is about to start coalmining in South Africa.
"It leapt 13p to 185p amid strong volume and market chatter about a 250p bid. ArcelorMittal, the steel group, took a 16 per cent stake last month and contracted to buy much of Coal of Africas output. It could decide to buy the whole company. This week ArcelorMittal bought a 15 per cent stake in MacArthur Coal, of Australia - a sign of things to come, perhaps?"

For full article:
Article in The Times 24 May 2008

Hi Toya. This is another one I bought and sold too early rather like missing out on the really big profits on sola! this time I've realised if Mittal is buying I should get back in--only a thousand but it's a start and up today. Have you any hoil? This is my latest pick as if the iraq/kurdistan comes off they will rocket---imo and very hopeful of course!

Hi Moneyplus - I don't hold any currently as it seems to be hovering around not quite knowing where to head next, but I will jump aboard at some stage soon.

Seems to have made its mind up to head north so I've bought some today - hope I'm right!

nice rise--hope we both do well Toya.

It's really starting to shift today Moneyplus. Glad I got in when I did.

"LONDON (Thomson Financial) - Coal of Africa Ltd. said ArcelorMittal has received approval from Australia's Foreign Investment Review Board to increase its stake beyond 15 percent."

massive reserves and a bid prospect--I'm glad I'm in too.

Coal of Africa cut to reduce from buy at Arbuthnot, target price raised to 80p from 60p

Business Financial Newswire
Company has announced the successful commissioning of the Coal Plant at its first development project, the thermal coal mine at Mooiplaats. However, the coal quality underground has been worse than anticipated and as a result the company expected to produce limited quantities of saleable coal from the mine until Q1 2010.

Took a trading position in this, fundies and TA are both looking very strong and with the energy sector outperforming this could turn out to be a short to medium candidate.



Medium term I would be first looking to overcome resistance at 150p....



Broker Morgan stanley have a Buy rating and a 150p intermediate SP target saying "coal of africa was a high risk high reward play, with a bull-case target of 380p if it executes its stratergy.

Edison broker note....

From the 22nd....

http://www.edisoninvestmentresearch.co.uk/?ACT=18&ID=2236

from this is money couk 24 sept refrence coal and AU.CBRY
His advisers, led by US broking giant Goldman Sachs, are said to be currently working on various mouth-watering corporate deals, at least one of which is expected to see the light of the day well before the end of the year.
Hot gossip suggests Mittal's number one takeover priority is Coal Of Africa, 4p better at a year's high of 1191/4p, and a cash offer of 250p a share is in the pipeline.

He already owns 16.3% of the mining group, via his giant steel company Arcelor Mittal, where he is chairman and chief executive.

Speculation has been rife since he bought the stake in April that it would be only be a matter of time before he swallowed the rest of the group's equity. Its loose change for him.

Coal of Africa owns coal mines at Mooiplaats, Vele and Makhado in South Africa. Coal production is increasing and should it reach maximum levels, the shares would be worth treble their current value.

Morgan Stanley recently moved the stock to overweight, saying it had an 'attractive risk reward profile'. Its target price is 150p but that rises to 380p on a bull case scenario.

Disappointing existing US home sales, which fell 2.7% to 5.1m in August, the first monthly drop in five months, brought the Footsie off the boil.

As Wall Street dropped 74 points on the data, London followed suit. The blue-chip index lost a 26 point gain to finish 60.10 points lower at 5,079.27, while the FTSE 250 shed 123.99 points to 9,093.02.

Punters chased software giant Autonomy up to 1650p as rumours of a 28 a share bid from Microsoft did the rounds. Fund managers soon dismissed that idea and said the rise had more to

do with a bullish note from Bank of America/Merrill Lynch. The broker lifted its target price to 19 from 1660p. Late profit-taking left the close at 1610p, but still 47p up on balance.

Awaiting a knock-out 9-a-share bid from Kraft, Cadbury Schweppes rose 51/2p to 798.94p.

A 250p bid will do for me.

Found the story on the mail site.... this is hot news.......

Yesterday's trading: Mittal is steeling himself for deals

Geoff Foster, Daily Mail

24 September 2009, 9:34pm

Lakshmi Mittal, the Indian-born steel tycoon and Britain's richest man worth an estimated fortune of 12.5bn, is on the
acquisition
trail.

His advisers, led by US broking giant Goldman Sachs, are said to be currently working on various mouth-watering corporate deals, at least one of which is expected to see the light of the day well before the end of the year.
Hot gossip suggests Mittal's number one takeover priority is Coal Of Africa, 4p better at a year's high of 1191/4p, and a cash offer of 250p a share is in the pipeline.

He already owns 16.3% of the mining group, via his giant steel company Arcelor Mittal, where he is chairman and chief executive.

Speculation has been rife since he bought the stake in April that it would be only be a matter of time before he swallowed the rest of the group's equity. Its loose change for him.

Coal of Africa owns coal mines at Mooiplaats, Vele and Makhado in South Africa. Coal production is increasing and should it reach maximum levels, the shares would be worth treble their current value.

Morgan Stanley recently moved the stock to
overweight
, saying it had an 'attractive risk reward profile'. Its target price is 150p but that rises to 380p on a bull case scenario.

Talk going on around the boards on this possible bid.

looks to have got off to a flyer this morning on the back of this news................100% premium if it comes to fruition........come on my son

Yep was hoping for a bit more than this but if a bid does come in at 250p what the heck.

Ive also found that mittal was interested in a bid back in 2007/2008 so it seems he wants his baby after all.

The London Stock Exchange is set to embark on a spree of deals in a bid to transform the company. Cazenove is on the hunt for targets as the LSE's chief executive, Xavier Rolet, ponders further price cuts to respond to the competitive threat posed by rivals such as Chi-X and Turquoise. ....... or Plus?


http://www.independent.co.uk/news/business/news/new-lse-chief-cuts-staff-as-he-prepares-to-take-on-rivals-1792878.html

yes would certainly help.