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01-07-2009, 03:49 PM
#8041
unless of course buying 11 mil pushes the price up 12 cents....
last time vol was over a million the price went up 15c that day
could of course just start buying them until price hits 1.30.
For clarity, nothing I say is advice....
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01-07-2009, 10:00 PM
#8042
Originally Posted by Mr Tommy
Form the Pike special meeting last week, shareholders gave approval for NZOG to increase its holding using 2009 options and 2011 options it holds.
The prospectus states:
NZOG holds 11,016,747 2009 Options which it was allotted prior to the IPO and which entitle it to subscribe for new ordinary shares for $1.30 each. The 2009 Options expire on 30 June 2009.
So the meeting was held in time to take up these options yesterday at $1.30.
Do we know if they did this or not. I know its 10c above the market price but with production finally starting this quarter (yeah right?) it could be a smart purchase.
NZO has been very supportive thus far, so why not show the market some faith in Pike River & convert them?
NZO will realise a very tidy profit in due course from it's PRC holding, & the SP will be well north when PRC hits its milestone production target.
NZO also have the convertible notes left don't they?
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01-07-2009, 10:14 PM
#8043
Originally Posted by blockhead
Wouldnt be that smart in my books Mr Tommy, not if they are cheaper to buy on Market.
If you where buying them for yourself would you take them @ $1.30 or $1.18 ????
not allowed to buy on market without making a bid for company.
M
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02-07-2009, 08:13 AM
#8044
Junior Member
From the NZO site under Pike River
"NZOG's current shareholding in PRC is 102,637,600 shares (29.6% of issued capital). NZOG also has 17,266,132 options (exercisable on or before 24 April 2011 for NZ$1.25 per share). 11 million unlisted options with an exercise price of $1.30 per share expired on 30 June 2009."
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02-07-2009, 09:54 AM
#8045
Member
Originally Posted by shasta
NZO has been very supportive thus far, so why not show the market some faith in Pike River & convert them?
NZO will realise a very tidy profit in due course from it's PRC holding, & the SP will be well north when PRC hits its milestone production target.
NZO also have the convertible notes left don't they?
Misplaced faith in the price of the coal I think. While PRC sold make a profit, its not going to be crazy money. International coal prices have dropped as is steel production.
This from the Solid Energy website: "We expect this downward trend to continue through 2009 and into 2010. Steel makers worldwide have cut production by up to 30%. Current export coal spot prices are down by more than 50% and contract export prices are likely to follow
http://www.coalnz.com/index.cfm/1,29...n-Solid-Energy
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02-07-2009, 12:01 PM
#8046
Member
Originally Posted by notie
Misplaced faith in the price of the coal I think. While PRC sold make a profit, its not going to be crazy money. International coal prices have dropped as is steel production.
This from the Solid Energy website: "We expect this downward trend to continue through 2009 and into 2010. Steel makers worldwide have cut production by up to 30%. Current export coal spot prices are down by more than 50% and contract export prices are likely to follow
http://www.coalnz.com/index.cfm/1,29...n-Solid-Energy
March 13 - Old news notie. Japan increasing steel production, working weekends again. US and europe still quiet but China and India stepping up - all systems go for coking coal IMO. Potential for a missed heart beat before October but with so much cash injected around the world into infrastructure projects becoming less likely.
With slight delay at Kupe (3rd qtr to 4th qtr) the extra 15M from not taking up PRC options will help NZO pay their dividend. I also assume that PRC doesn't need the money.
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02-07-2009, 12:13 PM
#8047
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02-07-2009, 12:32 PM
#8048
Originally Posted by notie
Misplaced faith in the price of the coal I think. While PRC sold make a profit, its not going to be crazy money. International coal prices have dropped as is steel production.
This from the Solid Energy website: "We expect this downward trend to continue through 2009 and into 2010. Steel makers worldwide have cut production by up to 30%. Current export coal spot prices are down by more than 50% and contract export prices are likely to follow
http://www.coalnz.com/index.cfm/1,29...n-Solid-Energy
Just got back from Hong Kong and as soon as i saw a Notie post i knew it would be a twist of the facts in some way. This time it is using old news.The report given here is dated mid March before and economicy activity has picked up since then. In fact looking very positive when all you can find on the negative side is months old.
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02-07-2009, 03:20 PM
#8049
Member
Does anyone notice all the ESOP announcements. Over the last 6 weeks there have been 5.
14 May, 150000
21 May, 161000
3 June, 100000
15 June, 50000
30 June, 400000
So over 860,000 shares allocated to staff in 6 weeks, and I think there are less than 20 staff. Do the staff not get paid or something.
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02-07-2009, 04:55 PM
#8050
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