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CXM, CENTREX METALS LIMITED
pheonix
post Posted: Jan 13 2013, 11:51 PM
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its an interesting time for this share. There was a 22c close on Friday which is a resistence level that hasn't been broken since last June but has been touched 8 times. If it can break through 22c next stop would be 30c. The board announced in Nov. that a capital restructure is on the cards. This should involve some form of capital return using the unallocated portion of the $65m in cash holdings.

We could be getting close to an announcement on how they are going to use maybe $10m (a pure guess based on the words " a significant portion of cash reserves are not committed") on improving "shorter term" shareholder value.

Currently cash covering is 20.7c per share which values all its projects at not much at all. With price of Fe looking heaps better long term, its project do have value. So i'm hopeful of a price boost ST based on what management said last Nov. ..perhaps to get us back to 30c.

 
nofnidear
post Posted: May 31 2010, 08:57 PM
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In Reply To: cajee21's post @ Dec 4 2009, 03:53 PM

Ready set gooooooo

 
cajee21
post Posted: Dec 4 2009, 03:53 PM
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In Reply To: veeone's post @ Jul 21 2009, 06:32 PM

WISCO is China's 3rd largest steel producer. Currently, the Chinese government is looking at all the smaller mills and how they can be integrated into the larger mills.
WISCO stands to pickup a few of them making WISCO even bigger, thus increasing its appetite for magnetite.
FIRB has approved the investment. Centrex has completed its due dilligance at Tumby Bay and is set to develop its port.
Not only does Centrex become a productive miner, it also becomes the custodian of a shipping port for iron ore to China, and a gateway for all the other miners in the region.

 
veeone
post Posted: Jul 21 2009, 06:32 PM
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WISCO to invest $186m in SA iron ore July 21, 2009 - 3:59PM
China's third-largest steel group has formally agreed to invest $186 million in South Australia's iron ore industry.
The Wuhan Iron & Steel Group Co (WISCO), will spend up to $186 million to take a 60 per cent stake in five projects.
WISCO's partner is the Adelaide-based Centrex Metals Ltd, whose shares jumped up following the announcement and at 1521 AEST were trading at 35 cents, up 5.5 cents, or 18.64 per cent.
Although the agreement was foreshadowed in December 2008, it was only signed overnight on Monday.
Before it is completed it will require approval from both the Chinese and Australian governments.
The joint venture plans to develop two magnetite iron ore projects producing five million tonnes a year of iron ore, from deposits north of Port Lincoln.
The two mines are expected to come on line during the next five to seven years, Centrex Metals said in a statement.
WISCO will get a 60 per cent stake in five iron ore licence areas under the deal, although it is expected only two mines will be initially created.
"The progressive cash injections into Centrex by WISCO will also fully fund the Australian company's commitments to commission its wholly-owned and advanced Wilgerup hematite iron ore mine," the company said.
"The Wilgerup project already has mining approval and is awaiting South Australian Government development approval to export hematite from Port Lincoln, with mining expected to commence before year's end," it said

 
Thompsjz69
post Posted: Sep 1 2008, 04:24 PM
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In reply to: BarraKing on Wednesday 12/12/07 01:11pm

BK,
if I may ask, r u still bullish on CXM?

Gool Ore play outside of WA so am interested in getting in.

 
BarraKing
post Posted: Dec 12 2007, 01:11 PM
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Centrex...I'll just smile and get ready for the 40c offer of 1 : 5.

@ 40c this is a very good discount to a CURRENT price, that DOES NOT look like falling.

Do I own???? YES!

Will I take up the SPP....YES!

Will CXM be an IRON ORE producer???? Go read the forward contract of the ORE ( Hematite )

Under the RADAR - IRON ORE, with few shares available.

JUST the type of stock for little 'ol Barra.

biggrin.gif

 

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focus
post Posted: Dec 3 2007, 01:28 PM
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Has anyone heard what is happening to CXM. I am not a holder but have had them on my watchlist for some time.

focus



--------------------
Old Lighthouse Mechanics - Keep the Lights Burning from Dusk till Dawn
 
merryfull
post Posted: May 31 2007, 12:08 PM
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In8Media, CXM has really taken of today/yesterday. Also received a speeding ticket from ASX

The simple answer is people are just startinfg to wake up just how good this company is

Andrew.m

 
in8media
post Posted: May 3 2007, 03:58 PM
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I've been researching this one for a long time now and for me all the facts add up. Strong business and management structure and already ore projects have Chinese buyers IMO.

Lots of media in local SA newspaper. Just need a bit more to get its legs going.

Cheers




 
tcisboss
post Posted: May 3 2007, 07:25 AM
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Consolidating at 19 cents and sellers thin on ground SP should move up inthe next few weeks maybe last chance in the teens l know not many look at this site but cxm building up for a bit of a run.

 
 


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