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CSE, COPPER STRIKE LTD
mercury
post Posted: Oct 25 2013, 01:54 PM
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Has anyone noted the market depth today. makes me wonder what/who is the seller and why>


anybody able to get info on that?

merc

 
dr_dazmo
post Posted: Oct 21 2013, 03:43 PM
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In Reply To: mrcurly's post @ Oct 21 2013, 03:36 PM

Thanks Mr Curly.

I'm not a tax expert, but if the SYR shares were distributed to CSE holders, would the tax be deferred until the individual shareholder sold?

Cheers
Dr_Dazmo






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Always remember the Golden Rule - Those with the Gold make the Rules!
 
mrcurly
post Posted: Oct 21 2013, 03:36 PM
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In Reply To: dr_dazmo's post @ Oct 21 2013, 03:20 PM

Continues to be great buying in my humble opinion (Bought more today).
Looking at the reasons for the discount to NAV, some thoughts...
- There is a sizeable cap gains tax to be paid on the SYR holding when/if realised
- It is unknown how the value for the SYR shares will be realised, at a discount or premium
- Lower liquidity in CSE shares. This is important and I suspect the key reason for the discount
- Latest annual report talks about the mineral sands development without directly addressing the elephant in the room - how we will extract maximum value for the SYR holding. i.e. Danger of management being more focussed on their pet projects than realising maximum value for shareholders

That said, I reckon CSE is worth around 23.5c with SYR at $3.00. That makes the closing price of 0.19c a discount of nearly 20% without ascribing any value at all to the non SYR assets. Interested in others rule of thumb calculations...

Cheers,

 
dr_dazmo
post Posted: Oct 21 2013, 03:20 PM
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In Reply To: arty's post @ Jun 14 2013, 11:31 AM

Hi All,
Arty posted in June that:

Let's use round figures:
11M SYR shares, at $2 (near enough) equals $22M
106M CSE shares, at 16.5c (today's trade) equals $17.5M
That's a 20% discount - and makes me wonder how much the Market thinks SYR will be worth after the proper JORC estimate

Looking at the close today:
11m SYR shares @ $3.00 = $33M
106M CSE shares @ $0.19 = $20.14M
The discount is now 39%.

Any logical reason why the discount is increasing?


Thanks
Dr_Dazmo





--------------------
Always remember the Golden Rule - Those with the Gold make the Rules!
 
melua
post Posted: Sep 26 2013, 08:19 AM
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In Reply To: melua's post @ Jun 26 2013, 08:09 AM

With SYR starting to heat up again, CSE could very well be a nice leveraged play.

 
melua
post Posted: Jun 26 2013, 08:09 AM
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In Reply To: arty's post @ Jun 14 2013, 11:31 AM

You have neglected to deduct tax arty. CSE will be taxed at 30% on any profit when they eventually sell their stake.


Said 'Thanks' for this post: arty  
 


arty
post Posted: Jun 14 2013, 11:59 AM
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In Reply To: arty's post @ Jun 14 2013, 11:31 AM

... on the other hand, were SYR to drop back, as it well might when we look at the Weekly chart, 11M at $1.60 matches the current market cap, and SYR's closing that gap from May last year would be a disaster for CSE.

Attached Image


Speccie Rules angry.gif



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
arty
post Posted: Jun 14 2013, 11:31 AM
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In Reply To: mrcurly's post @ May 30 2013, 03:44 PM

Let's use round figures:
11M SYR shares, at $2 (near enough) equals $22M
106M CSE shares, at 16.5c (today's trade) equals $17.5M
That's a 20% discount - and makes me wonder how much the Market thinks SYR will be worth after the proper JORC estimate.

It is, however, possible that some people have arrived at a similar conclusion: Just after I took the small 16.5c offer out, the 17c position was moved up to 18c. Seems he doesn't really want to sell 120k that cheaply.



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
mrcurly
post Posted: May 30 2013, 03:44 PM
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In Reply To: arty's post @ May 30 2013, 03:25 PM

With SYR at $1.87 and CSE at $0.155 (Offer) at the moment I calculate only 3% discount for CSE, ignoring the non-SYR assets that are held. This is a comparatively low discount in the terms of the past year where it has mostly been closer to 15% discount. i.e. CSE did not tank to quite the same level as SYR.
Combined with the chunky style of CSE trading, I don't think the chart for CSE is very useful. Better to look at the SYR chart for the trend and then evaluate CSE on a spot basis if buying or selling.

My CSE value is based on an estimate of cash outflow = $200K since 31st March.

Cheers,

 
arty
post Posted: May 30 2013, 03:25 PM
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In Reply To: melua's post @ May 8 2013, 07:38 AM

It seems SYR has now tested support for the 3rd time and is rising again.

Attached Image


Why is CSE not following??? grrr.gif

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--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
 


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