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AOH, ALTONA MINING LIMITED
nipper
post Posted: Nov 21 2017, 07:52 AM
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QUOTE
Copper play Altona Mining will be swallowed by Canadian group Copper Mountain Mining in a deal that will create a new $300 million mining house. Altona, which owns the undeveloped Cloncurry copper deposit in northwest Queensland, has agreed to an all-scrip offer from Copper Mountain that values it at 17c a share, or $93m.

The deal represents the end of Altona's arduous journey to secure a deal over Cloncurry, given Altona only scrapped an earlier deal to sell a stake in Cloncurry to Chinese interests in August after more than a year of waiting on various approvals and conditions.

The Altona-Copper Mountain union could also be a sign that the surprisingly quiet market for mergers and acquisitions in the resources space is coming back to life. The broader rally under way in mining stocks since early last year has been notable for the shortage of deals. With the exception of a hostile bid for Indonesian copper miner Finders Resources, almost all the recent deals in the sector have involved modestly sized assets rather than company-level transactions.

Altona managing director Alistair Cowden told The Australian the combination of Copper Mountain's mining expertise and the cash flow from its namesake mine in British Columbia would finally pave the way for Cloncurry to find its way into development. "The thing for me is we're dealing with fantastic people. These are real miners," Mr Cowden said.

He noted that Cloncurry had long suffered from negative perceptions in Australia due to failed efforts under previous owners to get the deposit into development, and said he expected Cloncurry would become the latest in a line of Australian assets to fare better in Canadian hands.

The Fosterville goldmine in Victoria has become a cash machine under the ownership of Canada-based Kirkland Lake, while Canada's Novo Resources was responsible for triggering the recent Pilbara gold nugget rush under way in Western Australia.

"Think of Fosterville and Kirkland Lake. Everyone in Australia knew Fosterville was a dog and look at how that turned out," Mr Cowden said. "The key thing is these guys are serious miners; they understand low-grade large-scale open pits and make a lot of money out of them, and they're a good fit culturally as well.".
Copper Mountain's offer represented a 41.7 per cent premium to Altona's closing price last week. Altona's major shareholder, Matchpoint, has indicated its intention to accept the offer.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
cooderman
post Posted: Jun 22 2016, 09:42 AM
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I have bought a few of these in the last week, buying in the closing auctions at .12c. Probably need a close above .13 for any chance of
further move up. With AOH share of development costs at US$25 million and only holding A$42.8 cash they would hope the AUDUSD doesn't drop to .60s as a Cap Raising may be needed.
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arty
post Posted: Jan 30 2015, 07:31 PM
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In Reply To: fraz2's post @ Jan 30 2015, 06:43 PM

Thanks mate,
you're right. My bad futterbingers blush.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)
 
fraz2
post Posted: Jan 30 2015, 06:43 PM
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In Reply To: arty's post @ Jan 29 2015, 12:00 PM

That is 3c unfranked div & 12c cap return, and by my rough calc the cash backing is slightly over 8c after the payout



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Our greatest glory is not in never falling, but in getting up every time we do.

Great minds discuss ideas. Average minds discuss events. Small minds discuss people.
 
arty
post Posted: Jan 29 2015, 12:00 PM
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In Reply To: fraz2's post @ Jul 8 2014, 08:11 PM

It's 2c divi plus 13c cap return, going ex on Monday

At current trading, the ex-price would have to dip below 8c, something I can't really see happening.
I'll pick up a few - speculative, I know. so DYOR
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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)
 
fraz2
post Posted: Jul 8 2014, 08:11 PM
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Nice ann today re sale of Finnish assets.

Return to Shareholders
The Company intends to make a cash payment to shareholders of 15 cents per share, which equates to approximately A$80 million in total. The payment will be comprised of a combination of an equal capital reduction, a buy back of shares or a dividend. The relative proportions of equal capital return, share buy back or dividend will be determined by the Directors after the receipt of a ruling from the Australian Taxation Office.

Seems to indicate they would rather sell the Australian assets than develop them.



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Our greatest glory is not in never falling, but in getting up every time we do.

Great minds discuss ideas. Average minds discuss events. Small minds discuss people.
 

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focus
post Posted: Mar 15 2013, 10:34 AM
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This is another stock that has today come up on my radar (chart). I remember this when part was Universal Resources and made a couple good trades back then.

Any long term holders care to comment of this company. The fundamentals dont seem too bad, with generous cash in bank and a bit of profit achieved recently.



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Old Lighthouse Mechanics - Keep the Lights Burning from Dusk till Dawn
 
fab1
post Posted: Jul 3 2012, 09:30 AM
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15% Resource Upgrade

http://www.asx.com.au/asxpdf/20120703/pdf/42769b1kp6m950.pdf
http://www.altonamining.com/static/uploads...9_June_2012.pdf



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Never underestimate [color=green]how high a stock may rise[/color] and [color=red]how low a stock may fall[/color] - sentiment can be the cause of much euphoria and also great despair.
 
fab1
post Posted: Jun 29 2012, 10:43 AM
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QUOTE
Altona has today received a notice from Mt Isa Mines Limited (“Xstrata”) of its intention to exercise its right to purchase 51% of the Roseby tenements, RFP, data and information in relation to the RFP as described in an agreement dated 11 March 2005 between the companies. Altona seeks the Trading Halt so that it can more fully inform the market of the process that will result from having received this notice.


http://www.asx.com.au/asxpdf/20120628/pdf/4273hsywrrq6f5.pdf



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Never underestimate [color=green]how high a stock may rise[/color] and [color=red]how low a stock may fall[/color] - sentiment can be the cause of much euphoria and also great despair.
 
fab1
post Posted: May 22 2012, 09:08 AM
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Seems like deja-vu smile.gif

Updated broker reports, copper price and Q&A

http://www.altonamining.com/reports/broker-reports
http://www.kitcometals.com/charts/copper_historical.html
http://www.proactiveinvestors.com.au/compa...orum-29051.html



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Never underestimate [color=green]how high a stock may rise[/color] and [color=red]how low a stock may fall[/color] - sentiment can be the cause of much euphoria and also great despair.
 
 


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