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Re: ACL JSE trading halt [message #51607]

Thu, 18 March 2010 09:59

Oscar

Messages: 146
Registered: December 2005

Senior Member

May be 3rd party is going to sell at low prices to ACL

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Re: ACL JSE trading halt [message #51610]

Thu, 18 March 2010 10:01

Bullhunter

Messages: 428
Registered: September 2009
Location: Northcliff

Senior Member

jaDEB wrote on Thu, 18 March 2010 07:30

Ja, beeld news this morning other unnamed company got 21% mining rights to Sishen.....

....a company linked to the AnarchistsNepotistsCriminals

Opportunities are made up easier than losses.

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Re: ACL JSE trading halt [message #51614]

Thu, 18 March 2010 10:20

hdbb

Messages: 539
Registered: August 2009
Location: By the sea

Senior Member

My bet its Arm (ari)

hdb
The mediocre teacher tells.The good teacher explains.The superior teacher demonstrates. The great teacher inspires!!

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Re: ACL JSE trading halt [message #51620]

Thu, 18 March 2010 11:41

jaDEB

Messages: 1061
Registered: February 2006
Location: Boksburg

Senior Member

ACLSBL - now 10 c damn.......

index.php/fa/2781/0/

Attachment: ACLSBL201003downto10c.jpg
(Size: 4.03KB, Downloaded 604 time(s))

jaDEB

"Sometimes the Dragon wins..."

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Re: ACL JSE trading halt [message #51623]

Thu, 18 March 2010 12:20

Cut Loss

Messages: 314
Registered: July 2008
Location: PTA

Senior Member

Take your loss and I think there is still time to recover it with a short or put warrant. Trend is still down and taking your supplier to court is bad management.

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Re: ACL JSE trading halt [message #51635]

Thu, 18 March 2010 14:19

sums191

Messages: 220
Registered: August 2009
Location: n/a

Senior Member

An unknown company with prominent ANC figures as its shareholders has reportedly been granted prospecting rights for the 21.4 percent share in Sishen's mineral rights which, up to last month, belonged to ArcelorMittal.

Sake24 on Thursday reported that the prospecting right has gone to "a completely unknown entity that has apparently never before been involved in mining, with prominent ANC shareholders."

Kumba, which owns Sishen, one of the world's biggest iron-ore mines, on Wednesday said the Department of Minerals and Energy has granted the prospecting right over ArcelorMittal's share of Sishen to a third party.

"Sishen Iron Ore Company has lodged an appeal against the grant of the prospecting right and Kumba is currently engaged in discussions with the DMR in relation to the 21.4 percent residual right in respect of the Sishen mine," Kumba said in a statement to the JSE.

But Sandile Nogxina, director-general for mineral resources, has said that holders of prospecting rights had the exclusive right to apply for mining rights.

He said that if prospecting rights are awarded to someone, no one else could be given the mining rights.

"Another point is that ArcelorMittal is the only likely buyer of ore mined on the basis of these rights," said the report.

Until last month ArcelorMittal paid cost-plus-3 percent for 6.25m tons of iron ore from Sishen a year, based on its 21.4 percent stake in the mine's mineral rights. - I-Net Bridge

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Re: ACL JSE trading halt [message #51641]

Thu, 18 March 2010 14:40

BigTime

Messages: 64
Registered: January 2008

Member

This is a strange story, how can you have a prospecting right over an existing mine? Something doesn't add up here.

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Re: ACL JSE trading halt [message #51652]

Thu, 18 March 2010 15:21

SHOOTER

Messages: 203
Registered: September 2006
Location: Cape Town

Senior Member

Seems like the "brothers" have found another way of looking after each other by way of stealing and other inventive ways. It is sad that these skills are not put to honest use.

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Re: ACL JSE trading halt [message #51675]

Thu, 18 March 2010 20:26

Daaiou

Messages: 28
Registered: February 2006
Location: Somerset West

Junior Member

BigTime wrote on Thu, 18 March 2010 14:40

This is a strange story, how can you have a prospecting right over an existing mine? Something doesn't add up here.

At least one thing is for sure: Even ANC-mandated prospectors should find iron in "South Africa's largest iron ore mine".

http://www.legendsofamerica.com/photos-oldwest/Prospector.jpg

Actual mine:

http://web.uct.ac.za/depts/geolsci/dlr/hons2000/sishen3.jpg

[Updated on: Thu, 18 March 2010 20:32]

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Re: ACL JSE trading halt [message #51676]

Thu, 18 March 2010 20:40

SHOOTER

Messages: 203
Registered: September 2006
Location: Cape Town

Senior Member

Xevios is very upset with me raising my view about our "brothers" helping themselves. He keeps sending me Private Messages. Did he miss out on this one???

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Re: ACL JSE trading halt [message #51681]

Thu, 18 March 2010 22:35

Jane's a QUANT

Messages: 33
Registered: February 2010
Location: Sandy Bay

Member

Bullhunter wrote on Thu, 18 March 2010 10:01

jaDEB wrote on Thu, 18 March 2010 07:30

Ja, beeld news this morning other unnamed company got 21% mining rights to Sishen.....

....a company linked to the AnarchistsNepotistsCriminals

NICE DEFINITION, BULLHUNTER.

Trading is the most fun thing you can do with your clothes on!

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Re: ACL JSE trading halt [message #51682]

Thu, 18 March 2010 22:44

Jane's a QUANT

Messages: 33
Registered: February 2010
Location: Sandy Bay

Member

Daaiou

'Daai ou' doesn't look like a typical ANC member or has Jeremy Cronin found himself a real job and got off the gravy train?

Trading is the most fun thing you can do with your clothes on!

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Re: ACL JSE trading halt [message #51688]

Fri, 19 March 2010 07:11

Bulletjie09

Messages: 562
Registered: January 2009

Senior Member

According to today's Sake24 ACL does not have a BEE-component.

Most probably ICT will use its prospecting right to get a big chunk of ACL & KIO.

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Re: ACL JSE trading halt [message #51694]

Fri, 19 March 2010 08:32

nosh

Messages: 234
Registered: July 2007

Senior Member

Imperial Crown Trading vies for part of Sishen

http://www.miningmx.com/news/ferrous_metals/imperial-crown-t rading-vies-for-part-of-Sishen.htm

Looks like this is the Third party

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Re: ACL JSE trading halt [message #51705]

Fri, 19 March 2010 10:35

SHOOTER

Messages: 203
Registered: September 2006
Location: Cape Town

Senior Member

Xevios, no new PM for me?? Did you PM Bullhunter as well regarding his comment???

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Re: ACL JSE trading halt [message #51710]

Fri, 19 March 2010 10:55

SHOOTER

Messages: 203
Registered: September 2006
Location: Cape Town

Senior Member

No, Xevios wants to keep it a private fight with only me. Thanks for the special attention.

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Re: ACL JSE trading halt [message #51740]

Fri, 19 March 2010 15:19

bread
Messages: 110
Registered: March 2010
Location: Cape Town

Senior Member

SHOOTER wrote on Thu, 18 March 2010 15:21

Seems like the "brothers" have found another way of looking after each other by way of stealing and other inventive ways. It is sad that these skills are not put to honest use.

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Re: ACL JSE trading halt [message #51817]

Tue, 23 March 2010 14:45

brutus

Messages: 129
Registered: December 2007

Senior Member

ACL share price getting klapped again!

Wonder if I should buy more? Bought at R88. Now about R84.

I just can't help thinking that it is oversold. More than R15 billion already wiped off its capitalisation. Cheap iron ore was worth about R3 bill per year. So when a settlement is made, assume cost + 50% (it will definitely not be spot price because KIO cannot ship the same quantity to the coast without major expansion of infrastructure), the share price will surely increase.

Am I missing something here?

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Re: ACL JSE trading halt [message #51824]

Tue, 23 March 2010 15:28

Cut Loss

Messages: 314
Registered: July 2008
Location: PTA

Senior Member

Still a very expensive loss making share. They are still paying dividends and run at a loss to keep the "dividend funds" happy. Imagine when they stop paying dividends.

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