WID - Widespread [Archive] - Page 2

KentBrockman

29-03-2007, 08:16 AM

"Asian Mineral Resources Limited: Ban Phuc Nickel Project Progress Update
Wednesday March 28, 10:12 am ET

TORONTO, ONTARIO--(CCNMatthews - March 28, 2007) - Asian Mineral Resources Limited (TSX VENTURE:ASN - News) reported today on the current status and planned activity on the Ban Phuc nickel project being undertaken by its 90%-owned subsidiary, Ban Phuc Nickel Mines Limited ("BPNML"), including:

ADVERTISEMENT
- As phase one of an EPCM contract Metplant, an Australian process engineering company, is preparing a definitive detailed plant design and associated capital cost estimate.

- Preparation by AMDAD of a definitive mine design and associated reserve and resource report.

- Purchase of a second hand grinding mill located in Australia which will be refurbished - thereby accelerating project development.

- Issue of tenders for various infrastructure components, including the tailings dam.

The timing of delivery of the various reports and tender responses and the completion of other pre-development activities will facilitate the commencement of development activities as soon as BPNML has received a mining license for the project. BPNML expects to receive shortly the last of the ministerial approvals required before requesting approval by the Prime Minister's Office. Following receipt of PMO approval, the license application dossier will be resubmitted to MONRE for the issue of the license.

ASN has granted to each of its three non-executive directors options to purchase 150,000 common shares at an exercise price of $1.80.

Rob Thomson, President and CEO of ASN commented: "We are satisfied with the degree of progress being made on the various elements of the Project. We expect to make further announcements on our continuing progress including the expected date of issue of the mining license".

The grant of the stock options is subject to the approval of the TSX Venture Exchange."

stephens.pc

29-03-2007, 10:40 AM

"BPNML expects to receive shortly the last of the ministerial approvals required before requesting approval by the Prime Minister's Office"

This remains the major question mark.......

croesus

31-03-2007, 08:34 AM

ASN at $1.85

Jess9

31-03-2007, 08:45 PM

Croesus - I almost bought ASN several months ago for 55c, but hesitated, is that the current share price?? Bugger if so.

croesus

01-04-2007, 02:01 PM

Yes Jess....a all time high....I do not have any directly.. but I have a lot of WID and WIDWA..... shortly when we get the mining permit ( being positive ) I would expect a healthy increase in the S/P.

wsheridan

03-04-2007, 07:04 PM

quote:Originally posted by croesus

WSheridan are you drunk,stoned, stupid or all three...??

I don't get your point.

and incidently ASN selling at a all time high of $1.83 on good volume as I type.

I can only lay claim to one of these conditions - ever.
My point is WID might be fun for traders at the moment but it is one of those stocks that has caused grassroots NZ investors to be scared off equity investment because it has had principals who have sucked off its corporate teat ... and therefore I have no time for its board or management.
But enjoy the current joyrise.

zyreon

03-04-2007, 10:55 PM

quote:Widespread Portfolios Limited WID 3 Apr, 2007, 09:03 GENERAL Widespread's King Solomon completes ASX IPO
Full Text of Announcement
Dear Widespread Shareholder,

Widespread Portfolios Limited owns, post IPO, approximately 7.1% of Kong Solomon Mines ("KSM:) and this shareholding represents 7.4% of our assets. KSM made the following announcement today.

Yours sincerely,

Chris Castle

Director, Widespread Portfolios Limited

King Solomon Mines Limited

2 April 2007

King Solomon Mines closes IPO in advance of schedule
King Solomon Mines Limited ("KSO") announced that it had closed its initial public offering [IPO] after applications exceeded the ten million dollars [A$10 Million] sought by its 26 February 2007 prospectus.

The Company sought to raise a minimum of A$8M with provision to accept up to an additional A$2M in oversubscriptions. The oversubscribed issue was closed early on 30 March following strong demand from institutional and private investors.

The Company expects to complete allotments by Wednesday 4 April with successful applicants receiving an allotment notice detailing the number of shares allotted shortly thereafter. Refund cheques are expected to be dispatched this week. Listing is subject to ASX approval.

Mr. John Quinn, the Company's Chairman, stated that "The Board is very pleased by the enthusiastic response from investors to the capital raising. The Company is now finalizing plans for the recommencement of field activities in Inner Mongolia and to acquire additional opportunities in this highly prospective but under-explored region. It is anticipated that drilling of existing prospects will get underway in this quarter, with initial assay results being reported in the September Quarterly Report."

About King Solomon Mines
The Company has mining prospects in the semi-autonomous province of Inner Mongolia, China.

World class target area
o King Solomon is exploring for minerals in the under explored Inner Mongolian section of a major fold belt that hosts world class Gold and Copper deposits.

Strong initial project portfolio
o The Company has interests in the following projects
o Marmot Ridge - Porphyry Copper-Gold prospect along geological trend from the Ivanhoe/RTZ owned Oyu Tolgoi Copper-Gold deposit
o Wuritu - potential high-grade shear hosted Copper deposit
o Amoyitele - Magnetite and Copper prospects; Nickel and Lead anomalies
o Sonid North & South - Regional shear hosted Gold targets

7 years experience in China
o The Company's founding directors have worked on minerals projects in China for 7 years
o Operating infrastructure is established in Inner Mongolia

Experienced board and management
o The Company's board and management are experienced in exploration and capital raising:
o John Quinn Chairman (Newcrest, Perserverance)
o Stephen McPhail MD (Todd, Highlake)
o Bruce Bell Exec. Dir. (Delta, Highlake)
o Fu La Exec. Dir.
o Chris Castle Non Exec Dir. (Widespread, Asian Mineral Resources)

For further information, please contact:

Stephen McPhail, CEO John Quinn, Chairman
+6421 897 667 (0412) 381 081

oversubscribed, should be good for the price when it starts trading, wonder how much money they left on the table...

oldowl

05-04-2007, 02:07 PM

Any one knows how to obtain a form to excersise warrants WIDWA

KentBrockman

05-04-2007, 03:12 PM

quote:Originally posted by oldowl

Any one knows how to obtain a form to excersise warrants WIDWA

Email the company.

But why would you want to exercise?? The price of the heads is almost the same as the exercise price.

I think that the main potential of these warrants lies in the longterm prospects of ASN.

If you want more exposure to WID I'd rather buy more WID on market. Or, even better, buy more WIDWA, which I think are hugely undervalued at the moment.

oldowl

05-04-2007, 03:29 PM

Thanks for your reply Kent.
I had a look on the web site but could not find and email address.
If I remember well I did see an email address of Chris Castle some time ago.
OO

The Examiner

10-04-2007, 05:44 PM

oldowl,

I can be contacted at c.castle@paradise.net.nz

Cheers

CC

The Examiner

11-04-2007, 09:22 AM

wsheridan,

Earlier in this thread you noted:

"My point is WID might be fun for traders at the moment but it is one of those stocks that has caused grassroots NZ investors to be scared off equity investment because [u]it has had principals who have sucked off its corporate teat</u> ... and therefore I have no time for its board or management.
But enjoy the current joyrise."

Could you be more specific about the previous principals and the teat sucking that you allege has gone on?

Regards,

CC

Farouk

13-04-2007, 11:41 AM

Don't you worry about WSheridan Chris, I reckon he may be a little jealous that he is not riding this wave, I see ASN back on the climb last night, and a HUGE day for Zedex yesterday (something happening there). I have been a holder for a few years now, and am confident that you and your team have the interests of the whole register in high regard. How many shareholders of other companies have the Company Director drop in to their Kebab Shop on a saturday morning for a cup of coffee? Not many I bet. Regards, Farouk.

Nevl

15-04-2007, 09:40 PM

Also am not sure where wsheridan is coming from. Well done Chris and I hope you are enjoying Vietnam. Another year like this one and I will vote for as many options as you want!!!

The Examiner

15-04-2007, 11:10 PM

Thanks guys.

Big silence from wsheridan....

Cheers

CC

wsheridan

16-04-2007, 12:46 PM

quote:Originally posted by The Examiner

Thanks guys.

Big silence from wsheridan....

Cheers

CC

Don't push it Chris. The agreement below is a start.
Does your partner Ms Sanders get directors fees?

--------------------------------------------------------------------------------
Page 1
THIS AGREEMENT made this 26tthday of April 2004BETWEENWPL (Newco) Limited a company having its registered office at Onekaka,Golden Bay ("Newco")AND Widespread Portfolios Limited a company having its registered office at Onekaka,Golden Bay ("WPL ")WHEREAS:A. WPL has agreed to provide investment advisory and other services for Newco.B. The parties writing hereto wish to record their agreement in writingNOW IT IS AGREED:1.1 NEWECO shall contract WPL to act as an investment consultant and provide certain otherservices and WPL agrees to act as an investment consultant and provide certain other servicesfor Newco on the terms and conditions provided in this Agreement.2.1 WPL shall act as a consultant for Newco for a term of two (1) years from 27 April 2004("the term"). Provided WPL has continued to perform its obligations under this Agreement tothe satisfaction of Newco, WPL shall have a right of renewal of the term for two (2) furtherterms of one (1) year from the expiration of the term, provided further that WPL shall givewritten notice to Newco of WPL's intention to renew the term for a further term, at least one(1) calendar month before the expiration of the term.3.1 WPL’S duties and responsibilities shall include:a) Provision of investment advisory services to Newco including identification andacquisition of an appropriate business or mineral exploration project to become thecore business of Newcob) Assisting Newco to list its shares on a recognised stock exchangec) Ensuring that Newco receives appropriate legal, accounting and taxation advisorysupport.d) Provision of administrative and company secretarial services to Newcoe) Provision of research facilities and a database (which shall at all times remain theproperty of WPL) to assist the board of Newco to make investment decisions.f) Assisting Newco to raise equity finance4.1 WPL shall not be at liberty to assign this Agreement or sub-contract out any of the work tobe completed pursuant to this Agreement and WPL agrees that it shall engage ChristopherDavid Castle, of Onekaka, investment consultant, to provide the agreed services to Newcoand if WPL wish to employ any other person either in addition to or in substitution forChristopher David Castle or if there is to be any change in the manner in which WPL is toprovide Newco with the services agreed to under this Agreement, WPL must put any suchproposal to Newco for Newco’s approval before the proposal is implemented.4.2 If WPL considers that specialist advice is required in relation to any of Newco’s activitieswhich WPL are responsible for, WPL shall, after consultation with Newco, be entitled to
--------------------------------------------------------------------------------
Page 2
engage such professional assistance considered necessary or appropriate by WPL and Newco,and Newco agrees that it shall meet the cost of such assistance.5.1 In consideration for WPL providing the services required under this agreement Newcoagrees to pay WPL on the following basis:(a) for the services outlined in clause 3(a) to 3(e) above a fee based on the time engaged ata daily rate of $2,000 ($250 per hour). This fee shall be payable monthly in arre****ither in cash or (at WPL’s election) by means of an issue of new Newco shares at anagreed issue price.(b) for the service outlined in clause 3(f) above a commission of 2% in respect of fundsraised. This fee shall be payable within a month of funds being raised with paymenteither in cash or (at WPL’s election) by means of an issue of new Newco shares at anagreed issue price.5.2 Ne

stephens.pc

16-04-2007, 01:17 PM

wsheridan, what of the above agreement is supposed to be so scandalous on Mr Castle's part? So he gets compensated for his so far excellent work, big deal!

The Examiner

16-04-2007, 02:19 PM

wsheridan,

You have resurrected an old management contract between WID and shell company WPL (Newco) which has been substantially superseded by a more recent management contract between WID and energy investment company WEN. Key facets of the new contract were publicly disclosed in the WEN listing documents - you should read them.

The fee structure in the new contract (which you seem to be oblivious of) is set at much lower rates until WEN reaches a scale of operations about equivalent to WID itself now (i.e. a $20m company)

Incidentally, I work for WID and derive no benefit from the arrangement between WID and WEN, the principal outcome of which is a listed company (WEN) that is run on the smell of an oily rag. Incidentally, Linda Sanders is not a director of WEN but even if she was, she would not be drawing directors fees as there are none. Correct - WEN does not presently pay directors' fees...

You may also be interested to learn (and again this is published information) that WID waived its rights to the 2% commission in respect of the recent WEN fundraising, all of which was sourced by WID.

Cheers

CC

wsheridan

16-04-2007, 03:25 PM

quote:Originally posted by The Examiner

wsheridan,

You have resurrected an old management contract between WID and shell company WPL (Newco) which has been substantially superseded by a more recent management contract between WID and energy investment company WEN. Key facets of the new contract were publicly disclosed in the WEN listing documents - you should read them.

The fee structure in the new contract (which you seem to be oblivious of) is set at much lower rates until WEN reaches a scale of operations about equivalent to WID itself now (i.e. a $20m company)

Incidentally, I work for WID and derive no benefit from the arrangement between WID and WEN, the principal outcome of which is a listed company (WEN) that is run on the smell of an oily rag. Incidentally, Linda Sanders is not a director of WEN but even if she was, she would not be drawing directors fees as there are none. Correct - WEN does not presently pay directors' fees...

You may also be interested to learn (and again this is published information) that WID waived its rights to the 2% commission in respect of the recent WEN fundraising, all of which was sourced by WID.
Cheers

CC

The fee structure of the new contract is exactly the same.It simply doesn't increase until the company is scaled up.

My comment was about past agreements.... and in my experience leopards don't change into *****cats.

I hope you do derive a benefit.... as a major shareholder in the companies something will be going wrong if you don't.

tim23

16-04-2007, 08:00 PM

I read a really positive article in the Listener re this company recently; I'm with you Mr Castle!

wsheridan

17-04-2007, 02:36 PM

quote:Originally posted by tim23

I read a really positive article in the Listener re this company recently; I'm with you Mr Castle!

That would be the fawning article written by Joanne Black.... who has long been a journalistic colleague of Mr Castle's partner, Ms Sanders.

stephens.pc

18-04-2007, 04:55 PM

GENERAL: WID: Widespread's King Solomon Mines lists successfully on ASX 04:28pm
WID
18/04/2007
GENERAL

REL: 1628 HRS Widespread Portfolios Limited

GENERAL: WID: Widespread's King Solomon Mines lists successfully on ASX

New Zealand Exchange Limited
P.O. Box 2959
Wellington

18 April 2007

Dear Sir,

King Solomon Mines lists successfully on ASX

We wish to advise that King Solomon Mines Limited today listed on the
Australian Stock Exchange using the ticker code "KSO".

At the time of this release over 2.3 million shares have traded in a range of
A21 to A24 cents. The recent KSO initial public offering was priced at A20
cents.

KSO is Widespread's second largest investment and at the last sale price of
A24 cents represents 9.3% of Widespread's total assets.

For and on behalf of the Board,

Chris D Castle

Hanoi, 18 April 2007
End CA:00146433 For:WID Type:GENERAL Time:2007-04-18:16:28:22

wsheridan

18-04-2007, 10:10 PM

I would love to see a well researched article on the real value of WID and its various assets. It might well be a miracle company but when I read `articles like the one below I just find it very difficult to take the company seriously.
Can someone point me to some well researched and independent analysis of this group of companies and an assessment of its current value versus long-term opportunity?

What about the likes of Brian Gaynor who views this site... what does he make of the company?

http://www.nzherald.co.nz/category/62/story.cfm?c_id=62&objectid=10432359

ScrappyO

18-04-2007, 10:25 PM

King Solomon mines debuts at 17.5pc premium
AAP | Wednesday, 18 April 2007

New Zealand gold and base metals aspirant, King Solomon Mines Ltd, has listed at a 17.5 percent premium to its offer price on the ASX.

The stock debuted on the Australian Securities Exchange at 23.5 cents, up 3.5 cents, and above its offer price of 20 cents per share.

The company's initial public offer initially sought to raise $A8 million through the issue of 40 million shares.

But it contained provision for another 10 million shares worth an extra $A2 million ($NZ2.3 million) if the offer was oversubscribed, which it was, bringing total capital raised to $A10 million.

The company was established in January, 2003, to explore for gold and base metals in Inner Mongolia in China.

The largest chunk of the capital raised will be spent advancing a copper deposit at Marmot Ridge towards the point where an initial resource can be established.

The balance will be spent advancing other projects.

King Solomon has a 90 percent stake in Plate, a Sino-foreign incorporated join venture with the rights to acquire six exploration licenses covering five projects.

In the company's prospectus, chairman John Quinn said the potential to discover high class deposits in Inner Mongolia was good.

"It is centred on one of those parts of the earth's crust which has demonstrated all of the ingredients required to host world class deposits,' Mr Quinn said.

"And whilst the geological setting is clearly right for the targets being pursued, the region has not had systematic exploration of the type that the company will bring to bear."

At 1117 AEST, King Solomon shares were up two cents or 10 per cent to 22 cents

stephens.pc

19-04-2007, 02:40 PM

KSO currently at 27 cents. No reaction from WID

COLIN

19-04-2007, 08:46 PM

quote:Originally posted by stephens.pc

KSO currently at 27 cents. No reaction from WID

But KSO represents only a very small proportion of the WID portfolio - about 7/8% I think. But I am sure that CC will be <s>crowing </s> drawing our attention to the matter soon.

The Examiner

20-04-2007, 04:27 AM

Colin,

Actually 9.3% when the price was 24 cents - four posts earlier in this thread. But agreed KSO is not yet a big deal in the overall scheme of things. However the market was informed which is important. And it will be again later today with our usual noon based update.

Cheers

CC

stephens.pc

26-04-2007, 01:35 PM

WID
26/04/2007
MINE

REL: 1036 HRS Widespread Portfolios Limited

MINE: WID: Widespread's Asian Minerals advise more nickel and ML news

New Zealand Exchange Limited
P.O. Box 2959
Wellington

26 April 2007

Dear Sir,

Widespread's Asian Minerals announces increased nickel resources and mining
license progress

Yesterday in Canada Asian Minerals (TSX.V: ASN) made a further announcement
concerning various aspects of its Ban Phuc nickel project in Vietnam. The
announcement is included below. Its key messages were:

1. An independently reported increase in nickel resources,
2. Re-activation of the exploration programme
3. Other progress related to getting underway operationally as soon as
the mining license is granted, and
4. Another key milestone achieved in the mining license application
process, with all preliminary ministerial approvals now received. An
application has been lodged with the Prime Minister's department.

a) Increase in Resources

To assist WID shareholders with the interpretation of this part of the
announcement we have following comments:

1. The Ban Phuc project has two discovered distinct nickel deposits, the
massive sulfide (the primary reporting focus of the company for the last 30
months) and the nearby disseminated sulfides.
2. The revised resource estimate (in respect of the disseminated nickel
orebody) has been undertaken (once again by independent experts) because the
nickel price, now at around USD23/lb, is substantially higher that it was
when the resource was previously calculated (the price was then around
USD7/lb). Higher nickel prices mean that it is economic to mine lower grade
ore and therefore more peripheral nickel bearing rock can logically be
included when calculating resources.
3. The effect of using a cut off grade of say, 0.25% Nickel (see first
table in ASN announcement below) means the combined reserves and resources
can now be estimated at 188,040 tonnes of contained nickel compared with
118,997 tonnes using a 0.40% cut of grade (see second table). The difference
of over 70,000 tonnes is very significant (particularly when nickel is
presently selling for USD50,000/tonne).
4. ASN's 2004/5 feasibility studies did not include this orebody because
it was not then considered economic to mine. These studies focused solely on
the nearby massive sulfide orebody that has been established (to date - the
deposit is open ended at depth) includes 31,000 tonnes of contained nickel.
This smaller orebody is the subject of the current mining license application
process and is the key driver of the current market valuation of ASN.
5. Further other work will be required to complete the detailed
feasibility studies required to mine the larger, lower grade orebody. Clearly
mining this resource is a possible "Stage 2" that ASN would only logically
embark upon if the the nickel price remains high in future years and if the
feasibility studies stack up.
6. Nevertheless, this restatement of ASN's total reserves and resources
better defines and compares ASN with many other nickel companies that are
reporting their nickel assets in the same way.
7. ASN's listed market value compared to its contained nickel assets is
approximately CAD600 for every tonne of nickel. It's interesting to note that
the average comparable figure for a representative cross section of other
nickel sulfide (i.e. not laterite) miners, developers or explorers is
CAD6,000/tonne (10 times higher)

Asian Minerals is Widespread's largest investment and presently represents
73.4% of total assets.

For and on behalf of the Board,

Linda J Sanders

Takaka, 26 April 2007

Suite 780 / 144 Front Street West Suite 304B / 30
Nguyen Du Street
Toronto, Ontario, M5J-2L7, CANADA Hanoi, VIETNAM
Telephone: + 1 416 360 3412 Telephone: + 8

stephens.pc

26-04-2007, 01:38 PM

I thought this to be a fairly positive statement but no interest at all from Mr Market. I thought note 7 was particularly interesting - Thoughts anyone??

7. ASN's listed market value compared to its contained nickel assets is
approximately CAD600 for every tonne of nickel. It's interesting to note that
the average comparable figure for a representative cross section of other
nickel sulfide (i.e. not laterite) miners, developers or explorers is
CAD6,000/tonne (10 times higher)

croesus

26-04-2007, 02:09 PM

The possible under value by the power of 10 is interesting, a rerating of half that should increase the WID S/P by 3 to 4 times ie 4.5c to 6c.
The other positive relates to the Mining application it reads to me,... that we have only to get the stamp from the P/M s office and its all go, I await with baited anticipation.
(Just hopeing C/Cs liver is going to be ok, after entertaing all those Viet officials.)
cheers. hic **

stephens.pc

26-04-2007, 02:41 PM

I agree Croesus, the statement did suggest that the mining application was effectively complete. Hopefully some exciting times coming up for this share.

The Examiner

26-04-2007, 03:03 PM

Hi Guys,

It's not quite that simple - I quote from an earlier ASN announcement

"BPNML expects to receive shortly the last of the ministerial approvals required before requesting approval by the Prime Minister's Office. Following receipt of PMO approval, the license application dossier will be resubmitted to MONRE for the issue of the license"

In other words, having received the last of the myriad of preliminary ministerial approvals required, two more approvals are required, the first being the Prime Minister's Office and the second being that of MONRE (Ministry of Natural Resources and Environment).

Cheers

CC

KentBrockman

28-04-2007, 01:26 PM

quote:Originally posted by stephens.pc

I thought this to be a fairly positive statement but no interest at all from Mr Market.

Actually, it seems rather a negative announcement, particularly when looking at the actual ASN announcment:

http://biz.yahoo.com/ccn/070425/200704250386374001.html?.v=1

The way I read it, if apples are compared with apples (e.g. a 0.4 cut-off with a 0.4% cut-off) then the indicated nickel resource is now 47,434t while it previously was 73,116t.

The market seems to see it in a similar way, as ASN has retreated significantly since the announcement was made.

stephens.pc

28-04-2007, 02:30 PM

Hi Kent, this clarification was released yesterday.

http://biz.yahoo.com/ccn/070426/200704260386685001.html?.v=1

So this "disseminated" resource doesn't relate to the original sulphide resource? If this is the case then as I understand it the overall resource estimate has increased, and this is clearly good news.

stephens.pc

28-04-2007, 02:31 PM

Perhaps Mr Castle could clarify?

The Examiner

29-04-2007, 12:12 AM

Agreed - there is a good deal of confusion in the Canadian market due to a mis-interpretation of the announcement by Stockwatch.

The announcement by ASN is complex, lacks interpretation and is not easily understood. So not surprisingly a mistake has occured.

For a start, the announcement referred to another orebody, not the one that is proposed to be mined (the massive sulfide). Nothing has changed with the massive sulfide orebody but the Stockwatch interpretation of the announcement did not make that clear.

The news re the secondary disseminated sulfide orebody was very good but was poorly presented. Hence the additional interpretation by WID in our announcement.

The critical variable when considering the disseminated sulfide orebody is the cut off grade, which, due to the very much higher nickel price, is now logically much lower. In the ASN announcement a range of cutoff grades was used from 0.25% to 0.40%. The upper end of this range was used before in 2005.

To background this a little, the cash operating cost (mining and processing to concentrate stage) per pound of nickel was USD2.99 in the bankable feasibility study. The study assumed a market nickel price of USD4/lb.

It's now USD23/lb, meaning, as the WID interpretation explained, it's now logical to process more nickel bearing rock on the outer fringes of the mineralised zone. This means, at a 0.25% cutoff grade, there is a lot more nickel.

The ASN announcement was a composite of external expert reports and in the editing process, an irrelevant statement noting that (for other reasons related to assumptions about the sulphur content) the ore assumed present at a 0.40% cutoff grade had reduced slightly was left in the announcement. It had no relevance to the 0.25% cutoff scenario, but as it was almost the only sentence that a lay journalist could understand it lead to a totally erroneous headline.

I hope this all makes sense. Happy to discuss this further in detail, in this forum, or on a one to one basis if you prefer. My email address is c.castle@paradise.net.nz

In terms of the market in ASN shares, I'm pretty confident that the prices in the last 2 days represented an opportunity for some fortunate investors to get in at a discount, rather than the last chance for us all to bail out of a sinking ship.

And, longer term, the market cap per tonne of nickel numbers may not be exciting for retail investors, but believe me the nickel companies understand them very well.

CC

stephens.pc

30-04-2007, 10:20 AM

Hi Chris, thanks for clarifying. The Original announcement was indeed pretty confusing but all seems clear now. I see the ask price is up to 1.65 for ASN so hopefully we will see it bounce back when the Toronto market opens on Monday.

I.T.Ancient

04-05-2007, 02:33 PM

For anyone who hasn't noticed. ASX:ZDX - which is about 5% of WID's NAV has recently increased in value by 50% on the back of some very promising exploration activity, and now has a new board including Alan Eggers (lately of Summit Resources). Wish I had got in when I thought about it when the price was below .18.

KentBrockman

04-05-2007, 03:20 PM

quote:Originally posted by I.T.Ancient

ASX:ZDX - which is about 5% of WID's NAV has recently increased in value by 50%

Interesting that you mention this, I recently noticed the same thing and checked Widespread's website to look up what the size of the holding is.

http://www.widespread.co.nz/investments.htm

Is it hidden in 'Cash & trading stocks'?

Chris?

stephens.pc

04-05-2007, 03:33 PM

ASN is also back up to 1.70 The lack of interest in WID amazes me. Guess we will have to wait till Ban Phuc is given the go ahead.

The Examiner

04-05-2007, 11:53 PM

Hi Guys,

It would be reasonable to assume, looking at the investments page on our site (www.widespread.co.nz), that the Zedex holding is either very small or entirely sold.

However, Zedex was quite a small part of our $19m portfolio. Recent movement in its shareprice were having a lesser effect on the overall value of the portfolio than exchange rate variations (NZD vs CAD).

The value drivers in WID are ASN, currency and KSO, in that order.

Regards,

CC

croesus

08-05-2007, 06:13 AM

ASN up 30c, on strong volumne...

gisborne_gold

08-05-2007, 10:06 AM

quote:Originally posted by croesus

ASN up 30c, on strong volumne...

This should translate to an additional 0.1c or so on WID NTA per share.

bear

12-05-2007, 09:15 AM

Further nice NTA increase but the spread between price and NTA, if anything, is getting larger.

Split hasn't narrowed the gap (as intended) although the Warrants have added some value.

Once ASN given the final ok hopefully the gap will further narrow

Although to be fair most listed investment vehicles like WID are about 25% below NTA which has always mystified me

bear

Nevl

12-05-2007, 09:08 PM

Any chance holders are selling at 1.7 and 1.6 and then exercising their warrents at 1.5cps. pocketing the difference and having the same number of shares. I expect the price to rise after June 30th if this is the case.

blackcap

13-05-2007, 05:36 AM

quote:Originally posted by Nevl

Any chance holders are selling at 1.7 and 1.6 and then exercising their warrents at 1.5cps. pocketing the difference and having the same number of shares. I expect the price to rise after June 30th if this is the case.

Nevl- No chance, you would be a fool to do so

The Examiner

13-05-2007, 06:27 PM

I agree with blackcap but Nevl is correct - I'm aware of WID shareholders doing just that, selling shares, exercising warrants and pocketing the difference. It's hard to understand the logic but in at least one case I'm aware off the shareholder concerned wants to increase the cash resources available to the company. At the moment exercising warrants is the only way to do that.

CC

blackcap

13-05-2007, 10:00 PM

quote:Originally posted by The Examiner

I agree with blackcap but Nevl is correct - I'm aware of WID shareholders doing just that, selling shares, exercising warrants and pocketing the difference. It's hard to understand the logic but in at least one case I'm aware off the shareholder concerned wants to increase the cash resources available to the company. At the moment exercising warrants is the only way to do that.

CC

Ok sorry i didnt actually realise that this was happening, but exercising any derivative before expiry date is depriving you of time value and thus early exercise is for fools.

The Examiner

14-05-2007, 12:32 AM

Tell me about it. One major objective of creating this security (the warrant) was to offer shareholders a chance to make serious money by leveraging off the likely value of the head share in June 2012. The early exercise option is a red herring that any rational investor would ignore.

However, despite this misunderstanding by some WID investors that has (possibly) adversely affected the market values of both WID and WIDWA the combined value of the shares and warrants now equates (roughly) to net assets so one of the purposes of the reconstruction has been partially achieved.

Hopefully, as investors begin to realise that the WID share price relates to the current position of the company and the WIDWA warrant value should relate to the (time value adjusted) value of the shares in 61 months time and is not "diluting" the current value of WID, we should see more logical valuations of both.

Time will tell.

CC

blackcap

14-05-2007, 02:23 AM

quote:Originally posted by The Examiner

Tell me about it. One major objective of creating this security (the warrant) was to offer shareholders a chance to make serious money by leveraging off the likely value of the head share in June 2012. The early exercise option is a red herring that any rational investor would ignore.

However, despite this misunderstanding by some WID investors that has (possibly) adversely affected the market values of both WID and WIDWA the combined value of the shares and warrants now equates (roughly) to net assets so one of the purposes of the reconstruction has been partially achieved.

Hopefully, as investors begin to realise that the WID share price relates to the current position of the company and the WIDWA warrant value should relate to the (time value adjusted) value of the shares in 61 months time and is not "diluting" the current value of WID, we should see more logical valuations of both.

Time will tell.

CC

Thats exactly what I thought the purpose was too Chris. I think you will find it usually takes people a while to "click" in these scenarios and the real value will unfold over time. I for one sold the heads at 1.6 and purchased more WIDWA's between 30 and 45 as they are clearly undervalued at current prices/volatility.

I.T.Ancient

14-05-2007, 08:53 AM

This is so interesting. No two persons seem to have exactly the same opinion about this. Both WID and WIDWA seem cheap right now, but the former more so than the latter. However, I don't want to be too over exposed to WID. I have a buy order in for 1M WID at 1.5 and if I get them then I will sell my WIDWA's. Failing that I may yet exercise them before 30/6. 'Foolish' - maybe.....

Lawso

14-05-2007, 11:54 AM

I wonder why the price of WIDWA is not reported in the NZX tables as supplied by NZPA to the NZ Herald and other papers. There is a bunch of other warrants quoted and also Widesread Energy options (WENOA) but not WIDWA. [?]

The Examiner

15-05-2007, 12:43 AM

Lawso,

We had that sorted briefly but it's clearly not working once again. Will do my best to fix.

Cheers

CC

blackcap

15-05-2007, 02:05 AM

quote:Originally posted by I.T.Ancient

This is so interesting. No two persons seem to have exactly the same opinion about this. Both WID and WIDWA seem cheap right now, but the former more so than the latter. However, I don't want to be too over exposed to WID. I have a buy order in for 1M WID at 1.5 and if I get them then I will sell my WIDWA's. Failing that I may yet exercise them before 30/6. 'Foolish' - maybe.....

IT, rather than selling your WIDWA's why not hold them. At current prices 100,000 WID will cost you $1500. The same exposure requires only a purchase of 1000 WIDWA, which at current prices would cost you $480. I know what id do.

croesus

15-05-2007, 06:38 AM

ASN strong........ up over $2

The Examiner

15-05-2007, 01:05 PM

Lawso - my Auckland spies tell me WIDWA is in the Herald share tables, but in the share section and not in the warrants.

CC

I.T.Ancient

29-05-2007, 01:52 PM

So a share buyback which is to end the day before it starts LOL.

Very sensible move IMO. (That is to say a good move to implement a buyback, not to close it too early.)

stephens.pc

29-05-2007, 03:24 PM

Has been corrected with latest release. End date 30 May 08

blackcap

15-06-2007, 07:16 AM

quote:Originally posted by stephens.pc

Has been corrected with latest release. End date 30 May 08

asn up to 2.23, wid nta over2.5 cents?

I.T.Ancient

15-06-2007, 10:16 AM

Yes WID looks cheap. Interesting that there has been no buyback action. CC surely can't hope for better buying than 1.5c. At least I hope not because I've picked up a few more at that price lately.

stephens.pc

15-06-2007, 11:03 AM

[/quote]
asn up to 2.23, wid nta over2.5 cents?
[/quote]

Must be pretty close to that, which would mean its trading at a 30% discount. Very high for what it essentially an ETF. I guess you could argue that the large discount is partly due to lack of liquidity, but its not that illiquid!

blackcap

16-06-2007, 04:52 AM

Spot on it was 2.5 cents, but have any of you seen asn at present. 2.69 and going on huge volume. That would put the WID NTA closer to 2.8 cents.

See some interesting action on Monday... Wid at 2.2? and the Widwa's at 70?

zyreon

16-06-2007, 08:49 AM

closed up 20.5% at 2.70, a piece of news about a private placement... http://finance.yahoo.com/q?s=ASN.V

Monday should be good :)

croesus

16-06-2007, 11:33 AM

Would hope the WIDWAs would be a bit stronger then .70, but as I hold a few I am a tad biased. this placement augers well for the ASN sign off ........ also hopefull for good news from the land of Genghis Khan.

blackcap

18-06-2007, 10:12 AM

[well heads up to 2 cents and should hit 2.2 today based on past discount value. Widwa's thinly traded but at 2.2 on the heads should fetch at least 75 cents plus.

Interesting times ahead anyway.

Disc - Hold 1 mill heads and 20t Widwa's

blackcap

19-06-2007, 02:37 AM

quote:Originally posted by blackcap

[well heads up to 2 cents and should hit 2.2 today based on past discount value. Widwa's thinly traded but at 2.2 on the heads should fetch at least 75 cents plus.

Interesting times ahead anyway.

Disc - Hold 1 mill heads and 20t Widwa's

Well ASN up to 2.90 as I type, so thats another 7% jump...Wid NTA now 3.05 or thereabouts. Still very volatile so rather be a WIDwa holder but this thing has potential.

KentBrockman

20-07-2007, 11:10 PM

Hi Chris,

In regard to your recent purchases of ASN shares on the TSX, may I ask if these are on your own account or on behalf of WID?

Either way, I take it as a vote of confidence, which is encouraging.

May I further ask how you view the prospects of ASN, specifically in light of the recent easing of the Ni price (though that seems to have stopped now) and the impending grant of a mining license for ASN?

Also, is there any news on the timing of the grant of the license? I realise it was expected some time ago; so what is the latest news?

Cheers,

KB

The Examiner

20-07-2007, 11:38 PM

Hi KB,

Well spotted, - WID has been buying ASN shares recently, basically moving back up to the 10% level that we used to hold before the recent placement to Lion and Dragon.

Clearly I'm very confident about the future prospects of ASN, regardless of the recent fall in the nickel price. The 2005 FS numbers were done at $4/lb and the project stacked up then with a cash operating cost of around $3/lb. At present prices (around $14/lb) it's not hard to work out that it will really fly.

I'm in Vietnam a lot of the time at the moment and quite conversant with the intricacies of the ML application process. Obviously I'm confident that it will ultimately be sucessful.

However, it's not appropriate for me (as an ASN director) to comment about specific progress on the application. When there is further progress to report ASN will announce this immediately and WID will re-release it here in NZ.

Cheers

CC

I.T.Ancient

31-07-2007, 10:35 AM

"Asian Mineral Resources
Limited (TSX VENTURE:ASN) ("AMR") announces that Ban Phuc Nickel Mines LLC
has received approval of the Vietnamese Prime Minister's Office for the issue
by the Ministry of Natural Resources and Environment ("MONRE") of a mining
licence for the Ban Phuc Nickel Project ("Project"), Vietnam."

Nearly there now.

stephens.pc

31-07-2007, 04:00 PM

Any guess as to what the shareprice might reach if/when it finally gets the license?

peterb

31-07-2007, 04:38 PM

quote: Any guess as to what the shareprice might reach if/when it finally gets the license?

This company is [u]very</u> promising. It's currently valued by the market at $2.06 x 68,766,473 = $141,658,934 m CAD. On a nickel price of $30,000 USD per tonne, and operating costs of $6600 USD per tonne, they're are going to make $23,400 USD per tonne. The initial resource has 24240 tonnes of nickel, which means a profit of $567,216,000 USD, or $8.25 USD per share. Assuming the USD-CAD are roughly equal then this gives you some idea of how I value the share (ASN). Of course then theres the extremely large, proven, economically recoverable disseminated sulfide resource, and other promising prospects in the Ta Khoa concession. Asn is vulnerable to commodity prices, but I can't see them heading much south of $30,000: (I also didn't, for lack of time, include copper of cobalt credits from then initial resource) Maybe when Ive got more time I'll come back and give a fuller analysis of the value of this baby, but I can't believe its $2!

Disc. DYOR

peterb

17-08-2007, 09:54 AM

disastrous day for ASN on the TSX- down 29c to $1.42 CAD. The fundamentals of this company haven't changed- they're looking better infact than when the SP was at almost $3. Expect the NAV and thus the shareprice of WID to take a hit, though not deservedly. Haha I should have sold my ASN for $2.70.... we live and learn, and this baby will bounce back.

croesus

25-08-2007, 10:35 AM

ASN up 20c overnight, now $1.70

I.T.Ancient

03-09-2007, 10:26 AM

Good interview with Chris at http://www.sharechat.co.nz/features/iinterviews/article.php/fad312e0

Chris, your explanation of the share split continues to be incomprehensible to me, but it's also unimportant. You are doing a fine job, keep it up.

KentBrockman

03-09-2007, 08:03 PM

http://www.stuff.co.nz/4188673a13.html

Hopefully it will get off the ground some day! Price of Ni seems to be bottoming out currently.

kiwi_on_OE

09-09-2007, 09:59 PM

Thought the following article might be of interest. Although it is about Amur Minerals Corp, it also has some interesting info about nickel miners in general. It looks like Asian Mineral Resources is included in the bottom graph.

http://www.resourceinvestor.com/pebble.asp?relid=34183

croesus

27-09-2007, 10:28 AM

ASN at $2.10 overnight.......will we see $3 before Xmas ?.....

disc....... hold a few WIDWA's

Croesus

mibo

27-09-2007, 12:13 PM

ASN at $2.10 overnight.......will we see $3 before Xmas ?.....
disc....... hold a few WIDWA's
Croesus

That would be nice. Strangely WID is slipping down? Maybe many have not seen the strength in ASN over the last days.

Any idea on when the Ban Phuc mining license will be issued, can't be too far away.

Disc: HGD, WID, NZOOD

croesus

27-09-2007, 12:42 PM

No Idea Mibo.
The morning we check the ASN S/P and see it is at $7 I guess.

Cheers Croesus

KentBrockman

27-09-2007, 03:14 PM

Any idea on when the Ban Phuc mining license will be issued, can't be too far away.

Disc: HGD, WID, NZOOD

Well, it will be next quarter....and then, next quarter,.....and then, next qua........

I.T.Ancient

27-09-2007, 05:38 PM

Well it's been that way for four quarters now - and four quarters make a hole.

peterb

27-09-2007, 09:45 PM

Well it's been that way for four quarters now - and four quarters make a hole.

yes, on the surface it seems a bit trying. However if you look into it, you will see that they are actually going through various important offices, making important and influential connection etc. The better planned and consulted a project is, the better it will progress once it actually gets the go ahead. This project now has the approval of the prime minister's office, there is a 10% government stake in the mine joint venture (ASN have the other 90%), as well as various influential Vietnamese investors who hold shares in ASN, including the Vietnamese govt. THis thing is going to get off the ground, its got a lot of momentum, and a lot of friends in high places: just the when of it is quite unpredictable.

------------------

Disc: hold ASN- this is my personal view, If you wish to invest in this or a related company, consult appropriate independent sources.

biker

28-09-2007, 10:46 PM

Interesting to see WID trading at a 35% discount to net asset backing at the moment and the ASN mining licence pending and a decision now a lot closer than it was at the end of 2005! It is to be hoped when the mining licence is eventually granted and some publicity is generated, WID moves significantly out of the current 1.5-2.0c trading range.

Disc. Recently into these at 1.6c.

mibo

10-10-2007, 03:09 PM

I found this on http://www.stockhouse.ca/news/news.asp?newsid=6148235&tick=NT

Asian Mineral Resources Limited: Vietnam Resource Investments (Holdings) Limited Press Release
10/9/2007 http://www.stockhouse.ca/news/images/shim.gifTORONTO, ONTARIO, Oct 9, 2007 (Marketwire via COMTEX News Network) -- Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) acknowledged in response to the press release issued today by Vietnam Resource Investments (Holdings) Limited ("VRI") that it has been engaged in discussions with VRI. However, VRI's statement that as a result of recent actions by the Board VRI has lost confidence that the Board is acting in the best interests of all shareholders comes as a complete surprise to AMR. AMR will withhold further comment until it receives the requisition for a general meeting of the shareholders of AMR that VRI indicated it intends to provide.

Does anyone know what this relates to?

mibo

10-10-2007, 04:01 PM

This had also passed me by...

NEWS RELEASE
Ho Chi Minh City, Vietnam, September 4, 2007 – Vietnam Resource Investments (Holdings)
Limited (“VRIHL”), an investment fund managed by Dragon Capital Group Limited together
with its affiliates, including Dragon Capital Management Limited and Enterprise Investment
Management Limited, (collectively “Dragon Capital”), entered into an agreement on August 23,
2007 for the acquisition of 12,932,820 common shares (the “Purchased Shares”) of Asian
Mineral Resources Limited (“Asian Mineral”) from Cambrian Mining PLC (“Cambrian”) at a
price of CDN $1.75 cash per common share (the “Transaction”).
The Purchased Shares represent approximately 18.8% of the issued and outstanding common
shares of Asian Mineral. As a result of the Transaction and for reporting purposes under
applicable Canadian securities laws, Dragon Capital will exercise control and direction over, on
behalf of certain investment funds managed by Dragon Capital, 26,021,820 common shares of
Asian Mineral, representing approximately 37.8% of the issued and outstanding common shares
of Asian Mineral. Of such 26,021,820 common shares of Asian Mineral, Dragon Capital will
exercise control or direction over an aggregate of 6,022,500 common shares on behalf of
Vietnam Enterprise Investments Limited, an aggregate of 5,666,500 common shares on behalf of
Vietnam Growth Fund Limited, an aggregate of 1,400,000 common shares on behalf of Vietnam
Dragon Fund Limited and an aggregate of 12,932,820 common shares on behalf of VRIHL.

For further information contact:
Dragon Capital Group Limited

Bas van Rooijen, Legal Counsel
1901 Me Linh Point
2 Ngo Duc Ke Street, District 1,
Ho Chi Minh City - Vietnam
Tel: 011 84 8 823 9355
Fax: 011 84 8 823 9366
Email: BasvanRooijen@dragoncapital.com
www.dragoncapital.com\

stephens.pc

10-10-2007, 04:09 PM

Couldn't find the press release from VRI, although i'm guessing VRI is trying to get more shares in ASN?. Dragon Capital, which manages VRI, has control of around 38% of ASN through its various funds, about half of this (19% of ASN) is made up by VRI.

stephens.pc

10-10-2007, 04:12 PM

Mibo you beat me to it!

bear

11-10-2007, 10:36 AM

WID 11/10/2007 GENERAL REL: 0852 HRS Widespread Portfolios Limited GENERAL: WID: Widespread's Asian Minerals important Canadian Developments New Zealand Exchange Limited P.O. Box 2959 Wellington 11 October 2007 Developments in Canada with Asian Mineral Resources Limited Asian Mineral Resources Limited (ASN) is Widespread's largest single investment, representing 76.0% of its investment portfolio as at 10 October 2007. Widespread owns approximately 9.9% of ASN. The Vietnamese based funds manager Dragon Capital Management Limited (Dragon) controls approximately 37.1% of ASN's shares. Dragon has announced that it intends to requisition a general meeting of shareholders of ASN to remove the current directors of ASN. ASN has responded to this announcement by advising that this action by Dragon comes as a 'complete surprise' and that it will not comment further until substantive information is received. The Board recommends that Widespread shareholders take no action with respect to any market speculation that may be arising from the actions of Dragon. Widespread will advise the market as further developments occur. On behalf of the Board, Linda Sanders Chairperson

Nevl

12-10-2007, 12:07 AM

Interesting play and seems to have totally offsided the present management. Maybe a takeover is underway? I am a little worried. Given the amount of renegotiation going on with developing countries trying to keep more of their mineral wealth. This could be a ploy by Vietnam to get total control before giving out the final permit. Will be interesting to see what CC can get for the 10% Wid holds. Will be watch the TSX for any new announcements

croesus

12-10-2007, 06:59 AM

ASN up 10c so far, healthy volume lately......wonder who is buying... good point Nevl,.... our holding could be quite strategic.... maybe WID should buy a few more...
cheers Croesus.

croesus

12-10-2007, 09:20 AM

Up another 15c to $2.25......on 38000 sold ....... I wonder what WIDs average share cost is??

oldowl

12-10-2007, 10:46 AM

October 11, 2007
Asian Mineral Resources Limited Announces Private Placement
TORONTO, ONTARIO--(Marketwire - Oct. 11, 2007) - Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN) announced today that it has agreed to sell 7,000,000 units consisting of one common share and one-half a warrant ("Warrant") to purchase a common share for Cdn$2.50 for two years at Cdn$1.75 a unit, for gross proceeds of Cdn$12.3 million. The purchaser is associated with the Santa Elena Group which owns an extensive portfolio of investments in a broad range of international resource properties.

Of the 7,000,000 units, one-third will be sold for gross proceeds of approximately Cdn$4.1 million following TSX-V approval and two-thirds will be sold for gross proceeds of Cdn$8.2 million on the earlier of (i) the issue of a mining license to AMR's 90% owned Ban Phuc Nickel Mines Limited ("BPNM") not later than December 31, 2007 and (ii) the election by the subscriber to pay the subscription price and be issued the securities, whether or not the mining license has been issued.

Mr. Rob Thomson, President and CEO of AMR, commented that: "The discussions we had recently with our largest shareholder, Vietnam Resource Investment (Holdings) Limited ("VRI"), that were terminated abruptly by them included an offer by VRI to subscribe for a US$10 million convertible note, the proceeds of which would have been sufficient to fund a substantial portion of our Ban Phuc commitments until the expected issue of a mining license. That offer was effectively withdrawn by VRI's surprise announcement that they had lost confidence in our board, but, fortunately, we were able to take advantage of a previous offer of financing that was still available to us. We are evaluating other sources of additional funding to ensure that AMR can continue to provide BPNM with the funds it requires to satisfy its commitments and obligations."

KentBrockman

13-10-2007, 11:16 PM

Chris, could you shed some light on this? Why has Dragon lost confidence in the board? I understand Dragon has a fairly good reputation, so its criticisms cannot be dismissed outright?

Asian Mineral surprised at Vietnam Resource's bid to clean out its current board

THE CANADIAN PRESS
Published Wednesday October 10th, 2007

TORONTO - Vietnam Resource Investments Ltd is seeking to clean out the current board of directors at Asian Mineral Resources Ltd. (TSXV:ASN) saying it has lost confidence members are "acting in the best interest of shareholders."

Vietnam Resource, an investment fund managed by Dragon Capital Group Ltd, said Tuesday it came to its conclusion during talks with Asian Mineral.

The company says it will try to force a meeting of Asian Mineral shareholders "to pass a special resolution removing the current directors from the board" and replace them with new directors.

Asian Mineral responded to the statement with its own press release late Tuesday in which it confirmed "discussions" with Vietnam Resource, but said the criticism of the board "comes as a complete surprise."

Asian Mineral has a 90-per-cent interest in the Ban Phuc Nickel Project in Vietnam.

Vietnam Resource own about 18.4 per cent of Asian Mineral.

The Examiner

13-10-2007, 11:48 PM

Kentbrockman,

You need to very carefully read all the recent announcements made in respect to ASN to put the Dragon actions in perspective. We (ASN) are in the middle of a poker game where a bluff may seem like reality. Enough said.

Cheers

CC

Xerof

19-11-2007, 04:42 PM

Anyone able to post the Top 20 Shareholders list for ASN?

Would be nice to know the slimebag takeover tactics are easily defeatable

KentBrockman

22-11-2007, 07:44 AM

Going downhill quite a bit with ASN now. Wonder what's responsible, Ni price, board room kerfuffle, or the never ending 'grant of the license is imminent' talk?

I.T.Ancient

22-11-2007, 02:24 PM

Going downhill quite a bit with ASN now. Wonder what's responsible, Ni price, board room kerfuffle, or the never ending 'grant of the license is imminent' talk?

It may be that your last two suggestions are interrelated, and that we are about to find out that Vietnam is a very bad place to invest.

KentBrockman

22-11-2007, 03:31 PM

It may be that your last two suggestions are interrelated, and that we are about to find out that Vietnam is a very bad place to invest.

Hope you are wrong, but I agree, something nasty may be coming up.

However, I note that Mineral Investments continues to purchase small parcels. Also, Ian McGregor has converted 300,000 options in ASN, at a price of 0.33.

zyreon

17-12-2007, 08:58 AM

http://www.nzx.com/market/market_announcements/by_company?id=158333

any clues?

Nevl

17-12-2007, 09:19 AM

Yeah not too sure. Everything is shut in Canada at the moment so no news from there. Pretty early in Vietnam as well so am not sure what is happening. I could do with a nice finish for the year. Come on Chris make it a Merry Xmas!! Anyway Chris thanks for all the work this year and I look forward to the next!!

COLIN

17-12-2007, 11:09 AM

It would have been helpful if Chris had conveyed to us whether the developments are likely to have positive or negative implications for WID. He has left us floundering. The market seems to think the news is good, but on what basis? Or, dare I say it, some have inside knowledge?! NAV has been sliding lately, and the granting of the Vietnam licence is always "not far away" - a bit like the tax cuts we should have been getting years ago!

I.T.Ancient

17-12-2007, 11:42 AM

Has to be good news. I think Chris would get in a whole lot of trouble issuing a 'Don't sell' before releasing bad news.

bermuda

17-12-2007, 12:40 PM

Has to be good news. I think Chris would get in a whole lot of trouble issuing a 'Don't sell' before releasing bad news.
You are absolutely right there. This is a Christmas present to all holders.
Not holding.

Nevl

17-12-2007, 01:27 PM

what a day. 2 of my spec companies have issued don't sell notices today. Heres hoping both are extremely positive as they are no 2 and 3 in my Portfolio so will have a huge impact on my Xmas spending. I would guess it the WID announcement is to do with ASN. Maybe the Vietnamese group is going for a takeover. Total speculation of course and don't sells are usually positive or neutral.

tobo

17-12-2007, 07:57 PM

Ok I was guessing it would be ASN-related, but can't find anything. ASN dropped 8% on friday.

Has anyone ever figured out the best Canadian (or US?) discussion forum that ASN (AMR) is discussed on?

Tobo

Xerof

17-12-2007, 09:02 PM

I'm sure we will get something relayed via the TSX by the morning -probably the much awaited confirmation of the final approvals from the MNRE in 'Nam.

Only guessing, so don't hold me to anything. Would be nice if it's more than that though:p:p

zyreon

18-12-2007, 07:27 AM

ah huh, i think we have an inside man^^ http://biz.yahoo.com/ccn/071217/200712170432205001.html?.v=1

jk ;)

(thumbs up on the mining license, though ASN is only up 9% so far...)

Nevl

18-12-2007, 08:18 AM

Well thats great news as I was starting to think that it was never going to happen. Production starting in 2009. Looking forward to an appreciation in the price over the next few months. Will be interesting to see a valuation put on ASN now. We have a rough idea of the amount of Nickel and copper. Just depends on how quickly it comes out of the ground and how much it costs to get it to the market!!

18-12-2007, 09:54 AM

Well done, Chris.

Xerof

18-12-2007, 10:40 AM

ah huh, i think we have an inside man

LOL, nah, just a (relatively easy) educated guess.

Xerof

stephens.pc

18-12-2007, 12:40 PM

Is this still taking place next month?

Xerof

18-12-2007, 02:02 PM

Nothing to the contrary, but the latest announcement of a private placement to a new investor might scupper the dark intentions of the raiding barbarians. Presumably, this new placement would include giving the current board their voting proxy.....

Xerof

18-12-2007, 02:25 PM

TORONTO, ONTARIO--(Marketwire - Oct. 16, 2007) - Asian Mineral Resources Limited ("AMR" or the "Company") (TSX VENTURE:ASN (http://finance.yahoo.com/q?s=asn.v&d=t) - News (http://finance.yahoo.com/q/h?s=asn.v)) announced today that it has received approximately Cdn$4.1 million as gross proceeds of the first tranche of the 7,000,000 units included in its previously announced private placement. As previously announced, the second tranche, for gross proceeds of Cdn$8.2 million, will be completed on the earlier to occur of (i) the issue, not later than December 31, 2007, of a mining license for the Company's Ban Phuc project or (ii) the date on which the subscriber elects to complete the transaction. All securities issued under the private placement are, or will be, subject to a hold period expiring February 17, 2008.

By my reckoning, AMR should be also getting tranche two of this earlier announced placement as well.

It's all happening here at the Gabba.....:D:D

20-12-2007, 10:47 AM

From 18 Dec announcement:
"We hold approximately 10% of AMR and this investment represents, at current market value, 72.8% of our assets."

Will the placements of 11.4M units and 7M units (announced 16 Oct) dilute our stake (and influence)?

Is the falling AMR share price an opportunity to top up?

KentBrockman

11-01-2008, 04:40 PM

http://www.newswire.ca/en/releases/archive/January2008/10/c7894.html

Chris, what's the board's view regarding these statements made by Dragon?

The Examiner

11-01-2008, 11:56 PM

Which board?

Steve

06-02-2008, 10:20 AM

It's good to see WID using the current weakness to chip away at the buyback, with the shareprice drooping further below NTA... :)

Corporate

06-02-2008, 12:12 PM

Just doing a little reading re WID. So there main investment is Asian Mineral Resources. The price of those shares has dropped to $1.5 from $2.7 in 30/6/07

I.T.Ancient

06-02-2008, 03:11 PM

shephejame

That is correct. ASN's share price has dropped in much the same way as it's peers in line with the declining price of nickel.

Throughout, ASN has been valued somewhat lower than it's peers - I think mainly due to concern about sovereign risk: The recent behaviour of a minority shareholder (Dragon Funds) has not helped to allay that concern (it might help if they just explained their position and objectives clearly).

Nonetheless, taking a positive view, there is considerable potential upside in ASN, and with WID, it is possible to get a piece of the action at a discount.

COLIN

09-05-2008, 11:33 AM

I'm surprised that no-one has yet commented on the recent news that Jinchuan have taken up an equity interest in ASN, at a price well above market. The WID price did move up (25%) initially, on this announcement, but soon slumped back to its former lethargy. With 75% of WID's assets being in ASN, its fortunes are very much tied to the success of the Vietnam nickel mining venture, and this development must surely be a confidence-booster. WID is such a tiddler, of course, and infrequently traded. I have held a few, for some time now, but am reluctant to chase any more.

Sumnerned

09-05-2008, 04:23 PM

Hi shephejame

Welcome to the WID thread.

I'm a small shareholder, and agree with the comments of IT A and COLIN.

I first got involved with WID because they were one of the few NZ opportunities to get nickel exposure, via ASN, and some of their other investments looked interesting too. Chris Castle, the Chairman, was quite active at the time, the warrants were neat concept, and there was what seemed like a real attempt to get WID above the radar of the NZ investment community.

Since then it has been a bit of a rocky road, especially as regards ASN. I am still not convinced by anything ASN or WID have put out that Dragon were entirely wrong in their criticisms. Indeed the dilution continues through new share issues, most recently Jinchuan, but MSC also very recently.

On the positive side, there has been great progress on the Ban Phuc mine development, and the two recent investors seem to be of the right type.

If we new how many shares there were in ASN, (it could be the sum of all the financings shown on the TSX, which is about 50m, plus the recent ones) and how much Jinchuan were paying for the nickel, we could get some notion of share value in ASN. The technical info on the ASN website is good.

For what it is worth, I am not inclined to worry as much as some wrt Sovereign risk in Vietnam, having visited the place a couple of times. They will require guarantees of raw material supply to their own industry, but they don't make much steel, yet. So I still reckon ASN are probably a bargain.

So there are loads of questions and uncertainties, but I plan to hold on for the ride.

peterb

11-05-2008, 09:00 PM

Indeed the dilution continues through new share issues, most recently Jinchuan, but MSC also very recently.

I don't think the dilution is a big problem. All of these issues have been for a significantly higher price than the 30day average shareprice. Dilution is always a bit of a shame for existing shareholders in a company that they thinks is going to skyrocket, but ultimately these share issues were good because they give the company injections of capital that is quite hard to find in a tight credit market. I think you will find that these issues give good signals to the market, and the working capital they provide to get the project closer to completion makes up for the slight dilution of potential project value per share.

Jay

17-05-2008, 07:54 PM

I think the figure quoted below for the Warrants shoud be cents not $$???
I aslo note there is another share issue on the way:

Shareholders have three options under this SPP:
§ Subscribe for your Entitlement of $1,000 of Shares, being 80,000 Shares at $0.0125 per Share;
§ Do nothing and the shares comprising your Entitlement will form part of the Shortfall.
§ Subscribe for your Entitlement and also apply for up to $4,000 of further Shares which may be available from the Shortfall.

Warrant terms adjustment

New Zealand Exchange Limited
P.O. Box 2959
Wellington
16 May 2008
SHARE PURCHASE PLAN OFFER FOR WIDESPREAD PORTFOLIOS LIMITED
The company has listed warrants (WIDWA) and director warrants on issue ("Warrants"). The terms of issue of the Warrants provide that if the company undertakes an offering of shares to its shareholders (such as the share purchase plan offer that has opened today), an adjustment shall be made to the exercise price of the Warrants.
Following receipt of independent advice from Capital Economics Limited, the Board has determined to adjust the exercise price of the Warrants as follows:
o WIDWA: The exercise price until 30 June 2009 is now $1.986.:confused: The exercise price from 1 July 2009 until 30 June 2012 will now be $2.986.:confused:
o Director warrants: The exercise price until 30 June 2009 is now $2.186. The exercise price from 1 July 2009 until 30 June 2012 will now be $3.286.
These adjustments are of immediate effect.
The independent report is available on request and will be published on our website, www.widespread.co.nz (http://www.widespread.co.nz/).
On behalf of the Board,
Chris D Castle
Director
Email: chris@widespread.co.nz (http://widespread.co.nz/admin/articles/chris@widespread.co.nz%20)

Steve

17-05-2008, 08:53 PM

I gather that WID is effectively re-issuing for 1.25c those shares that were purchased over the last year during the buy-back program at prices ranging between 1.3c - 2c? Or were those shares cancelled?

The Examiner

17-05-2008, 11:42 PM

Hi Sharetraders,

Just a couple of clarifying points

1. The warrant pricing is correct - each warrant relates to 100 shares
2. The SPP shares are new shares - they are unrelated to the 9.5m WID shares held by WID as treasury stock. We have a separate plan for that asset. This issue involves 66 million new shares.

Cheers

CC

Jay

18-05-2008, 09:19 AM

Steve

18-05-2008, 10:02 AM

Thanks Chris! :)

COLIN

03-06-2008, 02:05 PM

Chris: With CSG (coal seam gas) holdings running hot in Aus, it seems to me that WID could well do with something like this to beef up its image and share price by pursuing (profitable) investment in this area - or maybe you have something already under way and are not yet free to talk about it, particularly while you have an SPP out there.
Something needs to be done to put a bit of fire under WID. Perhaps WEN would be a more suitable vehicle for energy investments but its resources are much more limited of course.
No doubt you have watched the explosions in share prices for BOW, RPM, VPE, and others on the ASX.

bermuda

03-06-2008, 02:14 PM

The Examiner

04-06-2008, 11:07 PM

Colin,

No CSG and not likely as a specific target. But the Chatham Rise phosphorites (rock phosphate - street value NZD 46 billion +) which WID and WEN have already applied for and which we have been announcing on a periodic basis for the last six months, is pretty attractive in its own right. Have a look at MAK on the ASX.

Just to clarify - WEN is the energy play, WID is into base metals mostly.

Bermuda - I apologise - operationally at WID all is going well - I guess if you actually bought some shares in our company you might help your cause?

Cheers

CC

Billy Boy

05-06-2008, 10:21 AM

http://nz.biz.yahoo.com/080604/3/5wds.html
How accurate is this Chris....
BB

croesus

05-06-2008, 12:49 PM

Looks promising..........would be huge for WID....

disc hold WIDWA, KSM, HGD, NOG,

cheers Croesus

The Examiner

05-06-2008, 11:33 PM

BB,

I can't comment further re the KSO release - I'm not the spokesman for that company. But WID did think it newsworthy enough to reannounce it and email it to its own shareholders.

Cheers

CC

Steve

24-06-2008, 08:51 PM

After years of share splitting, we now get a share consolidation...

COLIN

24-06-2008, 09:09 PM

WID has been a great disappointment for the last year or so. Look at where the price is tonight. Too much dependence on the one (indirect) investment in a nickel mine in Vietnam. Hardly a "widespread" portfolio. Nothing to excite any investment interest in WID for a long time and patient investors are getting discouraged. Chris tries valiantly to flog the horse into a gallop, at regular intervals, but the nag just keeps slipping further behind the field. He needs to feed it with some real oats, and not just chaff.

croesus

24-06-2008, 09:51 PM

Well Chris, I am a patient investor and I am not discouraged....some years are better then others... the Nickel Mine should be producing in less then a year, KSO has exciting prospects, WEN has got some interesting prospects... plus unlike Kevin, Rodney, and the boys from Hanover we have no debt issues ....
cheers Croesus.

bear

25-06-2008, 12:41 PM

After years of share splitting, we now get a share consolidation...

would expect some weakness in the heads price in the short term as holders get use to holding a 50c+ stock - price should end up more stable over time

At least Chris and the team can start splitting again if this is the most effective way of rewarding holders.

Hold Warrants only and don't have the same degree of leverage i enjoyed - however both warrant and heads cheap but agree that some diversification could have merit

Bear

bermuda

27-06-2008, 10:44 AM

bear

27-06-2008, 10:52 AM

Why has the asset backing fallen from over $2 to about $1.60.?? All in the space of a month or so.

That don't impress me much. No wonder the shareprice goes lower.Dont hold but follow and hoping you guys can make a buck on this one.

would assume it the recent placement which would have decreased the NTA - market conditions may have also contributed

Bear

sideline

27-06-2008, 11:43 AM

Why has the asset backing fallen from over $2 to about $1.60.?? All in the space of a month or so.

That don't impress me much. No wonder the shareprice goes lower.Dont hold but follow and hoping you guys can make a buck on this one.

The announcement about 'closing the gap between shareprice and NTA' as justification for the 1:50
consolidation struck me as a big load of b*llsh*t.
If NTA is now truly 1.60, surely after the consolidation it should be 50*1.6=$80 - how is this closing
any gap?? Maybe they intend to keep the NTA at 1.60 after consolidation, effectively cutting it by a
factor of 50 ?!!!!!

croesus

27-06-2008, 12:16 PM

tim23

27-06-2008, 12:30 PM

Spot on the asset backing currently is 1.6c not 16c! I think the rational to consolidate has merit.

bear

27-06-2008, 12:45 PM

Sideline...your math is faulty... 1.6c nett.. not a $1.60.... so after consolidation would be approx 80c a share........
At current s/p of 1c the new price after July 7 should be 50c..

Re Bermuda's question ... ASN.. s/p is weaker.. in line with the world Nickel Price....and KSO s/p is also volatile... (2 large investments for WID)

........... would'nt stress .. this company has had good compound growth over the years.. has a policy of no debt.... and WEN... has I hope a few Rabbits in the hat

Check the website.
Regards Croesus.

You can't look at this one week by week due to the influence of ASN however over the past few years holders have done well with the issue of Warrants, sharesplits, and WEN/ WENWA.

I still believe the performance (currently) is hampered by the comparitive size of the ASN investment.

Perhaps the additional funds can be used to find a new ASN

Bear

croesus

28-06-2008, 11:11 AM

ASN up 10% last night in Canada .. on good volume........another announcement pending ???

COLIN

28-06-2008, 11:20 AM

I think the rational to consolidate has merit.
Just like the previous rationale to split!

doon

28-06-2008, 11:33 AM

ASN up 10% last night in Canada .. on good volume........another announcement pending ???

Hope you are right about the announcement- a Ban Phuc update would be nice. However, I wouldn't really call 34,070 traded anything special and only 8300 went through at closing price C$1.49 Just back to where it was a few weeks ago, and a long way from the C$2.74 one year ago. Volume may be more than normal for ASN, but not enough to set alarm bells ringing for me. (I hold ASN, not WID)

croesus

29-06-2008, 10:25 PM

Be interesting to see what ASN s/p does this week.......Fri nights volume was over 6 times the daily average ( up 10 %).......Doon I agree the S/P is only half that of last year.. but the Nickel price is also way down...... a update on progress would be good....hopefully the mine will be operational by April of next year.

cheers C.

KentBrockman

23-07-2008, 05:57 PM

BigBob

23-07-2008, 06:29 PM

SP in old terms 0.9c now. Immediate outlook doesn't seem good for this stock. After languishing around the $12/13 mark for a while Nickel has now dropped below $10, and looks set to drop further.

This apparent tax change in Vietnam won't be helping either.

The most ill conceived investment I have made since ITC.... thank god it's very small, but still I can't shift out of it gracefully.....

KentBrockman

21-09-2008, 12:58 PM

The most ill conceived investment I have made since ITC.... thank god it's very small, but still I can't shift out of it gracefully.....

Prospects for this stock continue to worsen:

http://english.vietnamnet.vn/biz/2008/09/804727/

On top of that, Nickel now down to US$7.50. with long term support at around US$5. Can't see a possibility of a graceful exit in the immediate future. :(

bermuda

21-09-2008, 01:23 PM

The most ill conceived investment I have made since ITC.... thank god it's very small, but still I can't shift out of it gracefully.....

Kent,
If that ITC is the Aussie oiler then I would suggest loading up now. Starting to Growl and I am pretty sure you will recover any losses and make a handsome profit.

Agree WID is still just a dream for Chris castle. Dont hold any but got some ITC last week. Warhawk result due this week.

biker

21-09-2008, 01:59 PM

Prospects for this stock continue to worsen:

http://english.vietnamnet.vn/biz/2008/09/804727/

On top of that, Nickel now down to US$7.50. with long term support at around US$5. Can't see a possibility of a graceful exit in the immediate future. :(

What say you Mr Castle?

zigzag

21-09-2008, 02:43 PM

shasta

21-09-2008, 02:45 PM

Kent,
If that ITC is the Aussie oiler then I would suggest loading up now. Starting to Growl and I am pretty sure you will recover any losses and make a handsome profit.

Agree WID is still just a dream for Chris castle. Dont hold any but got some ITC last week. Warhawk result due this week.

Bermuda

I'm afraid Kents' referring to ITC formerly IT Capital that was on the NZX before it became SLG (Sealegs).

I had a very large holding in it, & got burnt BIG TIME :mad:

My worst "investment" (& i use that term loosely) EVER!

BigBob

26-09-2008, 12:05 PM

On 28 August WID was very quickly out with a special announcement that the NTA was up by 25%... not surprisingly they are a bit quieter about today's 25% fall... which is also a 43% drop from August 28.... sick puppy here methinks...

oh, and bermuda, it was ITC as in IT Capital (now Sealegs)... hitherto my worst ever investment... my entry into ITC was rushed as was my entry into WID... hence my comment about it being ill conveived... and I thought I was learning all the time... :o

KentBrockman

29-09-2008, 01:02 PM

On 28 August WID was very quickly out with a special announcement that the NTA was up by 25%... not surprisingly they are a bit quieter about today's 25% fall... which is also a 43% drop from August 28.... sick puppy here methinks...

and now even sicker:

http://www.stocknessmonster.com/news-item?S=WID&E=NZSE&N=170685

Exerpt:

"Asian Mineral Resources
Limited ("AMR" or the "Company") (TSX VENTURE:ASN) announced today that
development activities on the Company's Ban Phuc nickel project will be
suspended effective October 1, 2008. The Company has been unable, as the
result of a combination of factors, including current market conditions and
uncertainties regarding Vietnamese government policies on nickel concentrate
exports, export tariffs, royalties and taxes, to obtain commitments to
provide the financing required for project completion so as to permit work to
continue as scheduled."

KentBrockman

02-10-2008, 12:24 PM

Chris,

Is Robert Thompson still CEO of ASN, as I note that he has taken up employment at Finders Resources?

Cheers.

Xerof

20-10-2008, 10:09 AM

Chris,

The change of basis for calculating NTA is noted. Are you able to tell shareholders what price you are using as a valuation for ASN?

KentBrockman

14-11-2008, 12:01 PM

Chris,

The change of basis for calculating NTA is noted. Are you able to tell shareholders what price you are using as a valuation for ASN?

Chris, has the composition of WID's portfolio changed significantly?

In the NZSX announcement of Oct 10, asset backing was 30 cents, back then ASN was 13 cents. Today, WID asset backing is also 30 cents, yet ASN is down to 3 cents.

What's the story?

paul29

29-01-2009, 10:06 PM

Net assets per WID share are 18 cents excluding the ASN shareholding

ASN was good buying at 3 cents last trade was 9 cents

Date Close High Low Volume
1/26/2009 0.09 0.09 0.09 1,000
1/22/2009 0.12 0.12 0.12 6,500
1/19/2009 0.12 0.13 0.12 14,600
1/16/2009 0.07 0.07 0.07 3,000
1/9/2009 0.12 0.12 0.10 4,000
1/2/2009 0.08 0.08 0.06 13,000
12/30/2008 0.07 0.07 0.07 3,000
12/29/2008 0.07 0.07 0.06 81,200
12/23/2008 0.05 0.06 0.05 11,000
12/22/2008 0.06 0.06 0.06 2,900
12/18/2008 0.06 0.06 0.06 45,000
12/16/2008 0.06 0.06 0.06 50,000

croesus

18-05-2009, 12:28 PM

Share Price..... stronger ..on a dont sell... notice....." good Morning Vietnam"....????

doon

18-05-2009, 12:44 PM

Share Price..... stronger ..on a dont sell... notice....." good Morning Vietnam"....????

Yes, must be news on Ban Phuc- ASN on TSX up to 18c on Friday, from 7.5c Tuesday! Low volume, but something positive must be coming. Like to see ASN back to its heady days of $2 plus

Steve

18-05-2009, 08:05 PM

Or it could be a false alarm!

bermuda

18-05-2009, 08:23 PM

Or it could be a false alarm!

Havent followed this one for ages but good luck to holders. If anyone deserves it, CC does.

Xerof

19-05-2009, 03:46 PM

There are only two items I would consider as positives:

ASN funding and/or further equity has been arranged to get the Ban Phuc ops up and running,

the tarrifs have been dropped by the Vietnamese

ideally both !!

Shareprice up, but still below value of NTA EXCLUDING their major asset.

This could explode......

croesus

19-05-2009, 04:48 PM

Or one of the major stakeholders...are trying to buy WIDs ASN holding, or looking to become a major holder in WID.... who knows ??

Disc Long term WID holder

doon

19-05-2009, 06:34 PM

Yes, must be news on Ban Phuc- ASN on TSX up to 18c on Friday, from 7.5c Tuesday! Low volume, but something positive must be coming. Like to see ASN back to its heady days of $2 plus

TSX closed Monday for public holiday- maybe news tonight?

doon

20-05-2009, 06:59 AM

Ann out, don't think this will do much for WID or ASN, but still positive.

Asian Mineral Resources: Adjustment to Export Restrictions for Ban Phuc

8:04 AM ET, May 19, 2009

TORONTO, ONTARIO, May 19, 2009 (MARKETWIRE via COMTEX) -- Asian Mineral Resources Limited ("AMR" or the "Company")(TSX VENTURE: ASN) announced today that the Vietnamese Ministry of Industry and Trade ("MOIT") has agreed, following submissions by AMR's 90% owned subsidiary Ban Phuc Nickel Mines LLC and the Son La Peoples Committee, that exports of nickel concentrate from its Ban Phuc project will be permitted for the five year period commencing with the beginning of production. The previous approval was for the period expiring at the end of 2013.

"We are pleased that MOIT has dealt with this important issue" commented Rob Guest president of AMR " and we look forward to similar progress in our ongoing dialogue with the authorities on other important Vietnamese issues whose resolution is critical to our being able to restart and complete the project when economic conditions including nickel price have improved sufficiently."

Company Profile:

Asian Mineral Resources Limited is developing the Ban Phuc Nickel/Copper Project in Vietnam 5 hours drive north-west of Hanoi in which it has a 90% interest.

croesus

20-05-2009, 08:23 AM

ASN up 27%.. being WIDs largest investment... this is positive news.......

Xerof

20-05-2009, 08:33 AM

This could explode......

The wick's fizzled before the flame got to the dynamite

A baby step, but second paragraph says it all really......

Jay

20-05-2009, 01:09 PM

Not exactly millions of shares going thru either.
Todays "drop" on about 8000 shares so far.

Have a few and hope they will go up further (a bit of play money)

BigBob

20-05-2009, 01:40 PM

Not exactly millions of shares going thru either.
Todays "drop" on about 8000 shares so far.

Have a few and hope they will go up further (a bit of play money)

and the bulk of that is me getting out.... I too shot a bit of play money at it last time they issued a "don't sell" notice a couple of years back, so I saw some poetic symmetry in getting out on the hike caused by the recent notice... lost over half of my initial investment but learned a few valuable lessons about research, opportunity costs and liquidity....

farewell WID and good luck to all holders...

croesus

02-06-2009, 07:35 AM

ASN have released announcement re placement.

Lawso

04-12-2009, 09:04 PM

Jay

04-12-2009, 10:31 PM

Sorry Lawso ! Got sick of waiting and sold my millions on a small rise (well minus a few zeros or 4)
Sort of lost tract on what I actually paid for them the dilution/ consolidation/dilution etc etc.

COLIN

04-12-2009, 10:57 PM

Any other poor saps (like me) still hanging on to this non-performer. I don't blame CC - more bad luck than they deserve IMO. But the Vietnam govt intervention seems to have really Ph***ed Ban Phuc.
WID's half-year report, received today, makes sad reading: " . . . we are well overdue for good news. . . .
"Good exploration results, combined with some proactive cooperation by relevant government officials . . . are what we seek. We are confident that one or more of these events will occur during the coming months."

I think Chris has had his day. Seems to be relying on "hope" now. Takes more than that, I'm afraid.

One of the problems has been that the company didn't act true to its name: "Widespread" - when something like 70% of the portfolio consisted of one exposure! (Now reduced, of course, because that holding has declined markedly in value).

paul29

07-12-2009, 11:41 AM

Widespread Portfolios Limited (WID-NZ) invests primarily in overseas-based mining and mineral exploration companies and derives income from share trading, interest and dividends. The investment strategy is aggressive and inherently risky in that; a large proportion of the portfolio is invested in high-growth-potential, second line stocks and a narrow range of stocks is held at any one time. The outcome of such an approach is increased volatility in the investment returns achieved by Widespread.

There still is Significant exploration upside for Asian Mineral Resources Limited for nickel and copper. its the 20% export tariff on nickel that the company has to work on and
Now that they have more funding things should look better for 2010

◦Large disseminated sulfide resource with higher grade core adjacent to main deposit
Numerous untested nickel sulfide & disseminated targets

DoctorG

21-03-2011, 03:13 PM

What is anyone's latest opinion on these shares?
There was an interview in the weekend papaer with Castle.
What is the difference between Widespread Energy and Widespread portfolio?

Nevl

21-03-2011, 11:12 PM

Must be the only Mining company globally to have lost money in the last 10 years!!!!

Typical Kiwi's going overseas and not understanding that the world is a really tough place where they all cheat.

BigBob

22-03-2011, 01:41 PM

Must be the only Mining company globally to have lost money in the last 10 years!!!!

Hey, don't forget about Heritage Gold.....

Nevl

22-03-2011, 03:58 PM

Hey, don't forget about Heritage Gold.....

Ooops sorry!! Haha how can it be in the midst of the greatest commodity boom in 40 years that NZ produces 4 mining companies that lose money

WID, Hertage, NZOG and unfortunately Pike river.

Just is too bewildering.

Stumpynuts

23-03-2011, 11:05 AM

Ooops sorry!! Haha how can it be in the midst of the greatest commodity boom in 40 years that NZ produces 4 mining companies that lose money

WID, Hertage, NZOG and unfortunately Pike river.

Just is too bewildering.

If only NZ could sort out it's red tape, and all the people with short-sightedness could wake up and realise the harsh realities of the global world.

Nevl

23-03-2011, 05:50 PM

If only NZ could sort out it's red tape, and all the people with short-sightedness could wake up and realise the harsh realities of the global world.

What has red tape to do with it? Stupidity seems to be the common denominator. Especially with WID which seemed to believe that you could be honest and make money in Vietnam and Mongolia.

Stumpynuts

23-03-2011, 08:29 PM

What has red tape to do with it? Stupidity seems to be the common denominator. Especially with WID which seemed to believe that you could be honest and make money in Vietnam and Mongolia.

I couldn't care less about WID - A worthless company.
I'm talking about the redtape for HGD and PRC. These companies could have so much more promise were it not for the loops and hurdles that redtape pose. Especially NZ redtape.

Mind you though I guess you could say that about any sort of redtape for any sort of investment.

Nevl

23-03-2011, 09:21 PM

I couldn't care less about WID - A worthless company.
I'm talking about the redtape for HGD and PRC. These companies could have so much more promise were it not for the loops and hurdles that redtape pose. Especially NZ redtape.

Mind you though I guess you could say that about any sort of redtape for any sort of investment.

If you seriously think that NZ has too much red tape you really need to get out a bit more. I have run business's in Europe and NZ and NZ has it so easy its just no contest hence the reason NZ is usually rated as one of the best and easiest countries to start up and run a business.

In some countries I have worked in wages are adjusted for how far away people work from their home!!!! In Italy to get a loan you need 3 forms. One for the Bank, One for tax man and the actual contract with whoever you are dealing. This is so all parties can avoid tax and hide all the illegal payments. Not to mention all the rest of the bribes and behind the scene deals you must make.

Even dealing with the EU is a bloody nightmare. I think the reason Kiwi's often do so badly overseas in business is we are just not brought up dealing with corrupt incompetent officials every time we try to do anything. And we go ahead thinking everyone is pretty straight up and a phone call or a 5 min meeting will sort out all the issues.

In NZ I have found that if I follow the rules it will be done fairly and legally. In most other countries this is not true.

Stumpynuts

23-03-2011, 10:46 PM

If you seriously think that NZ has too much red tape you really need to get out a bit more. I have run business's in Europe and NZ and NZ has it so easy its just no contest hence the reason NZ is usually rated as one of the best and easiest countries to start up and run a business.

In some countries I have worked in wages are adjusted for how far away people work from their home!!!! In Italy to get a loan you need 3 forms. One for the Bank, One for tax man and the actual contract with whoever you are dealing. This is so all parties can avoid tax and hide all the illegal payments. Not to mention all the rest of the bribes and behind the scene deals you must make.

Even dealing with the EU is a bloody nightmare. I think the reason Kiwi's often do so badly overseas in business is we are just not brought up dealing with corrupt incompetent officials every time we try to do anything. And we go ahead thinking everyone is pretty straight up and a phone call or a 5 min meeting will sort out all the issues.

In NZ I have found that if I follow the rules it will be done fairly and legally. In most other countries this is not true.

Sorry,
Should have stated - 'Conservation redtape' in my earlier post. Would have saved you a few minutes typing all that out. :p

And the bit about corruption - I know how it works. I've seen it, witnessed it and experienced it first hand in asian countries. Dodgy dealings all round.

Stranger_Danger

24-07-2012, 07:57 PM

Analysis of today's announcement : LOL

Snow Leopard

24-07-2012, 08:55 PM

Analysis of today's announcement : LOLI checked the date on it and it does not read 1st April.

best wishes
Paper Tiger

Hoop

24-07-2012, 09:17 PM

It seems CC has developed Bernankeitis :mellow: ...I recommend isolation and bed rest.

Stranger_Danger

24-07-2012, 09:45 PM

I can't believe they think the reason the share price is so low is because people don't want to buy a 14 cent share, because its 14 cents?

Personally, I was very interested (in theory) in having an exposure several years ago.

I begun my research, and the first thing I found is they had this whacking great holding in something that was trading at one price, but they were carrying it at a totally different much higher price, convinced as they were that it was the "right" price. From memory, the "right" price was used in the NTA figures.

At this point, I stopped my research. Have never looked since.

Maybe that is the real issue? I know I can definitely stretch to 14 cents, when justified.

Xerof

24-07-2012, 09:50 PM

Best way to achieve NTA value for long suffering holders is to liquidate it.....

croesus

09-01-2013, 01:05 PM

My view is WID is poised. to have a big move... WID... has a large exposure to Chatham Rock Phosphate.... which over the next few months will be getting a lot of publicity...Whilst the jury is still out.. on the viability of recovering the phosphate nodules.. if it proves to be the case.... the S/P of WID, and CRP will go bunta.

Disc.. have a holding in WID

GRIFFIN

10-01-2013, 08:02 AM

I like your prediction croesus i have a couple of hundred thousand shares in a dusty old drawer around here some where and i see that WID also has an interest in a nickel mine AMR in Vietnam which will be under way to produce from june, watch this space.

croesus

14-01-2013, 01:04 PM

Up 7 % to 1.4c on a million sold............ Not trying to Ramp... but I believe this stock will be a 10 bagger this year.,, I saw in the news over the weekend that Chatham Islanders want a slice of the phosphate pie... ( good on them I say )....once the market realizes what the CRP holding that WID have is worth, Not to mention any value in AMR... !.4c will seem a gift.

Disc Long term WID holder

The Grinch

14-01-2013, 02:48 PM

Hi Croesus,

Just had a brief scan over this one... can I ask why you think 2013 is the big year? As you mentioned AMR and CRP are two of WID's biggest holdings. Yes AMR's Ban Phuc Nickel project is at advanced stages and all seems to be going well but commercial production if on time is not due to begin till end of 2013 and CRP's commercial production is not due till end of 2014 (and they have a number of significant hoops to jump before then). At first appearance I would have thought buying into this one should probably wait till the 1st half of 2014. That way you know where they stand in regards to AMR's ability to make $$$ and CRP will have most of its consents and be gearing up for production.

Please advise... always interested in 10 baggers :eek2: