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  1. #1
    Legend
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    Default Chatham Rock Phosphate - CRP

    Chatham Rock Phosphate (CRP) are a spin-out of Widespread Portfolios, and are in the same building as Glass Earth in Wellington. After the AUSIMM conference (where they presented), their share price has taken off threefold. So despite the unfortunate ticker, this could be an outfit to watch.

    Chatham Rock Phosphate says market re-rating stock on value of prospects

    Friday 2nd September 2011

    Chatham Rock Phosphate, which has a prospecting permit to assess the potential for mining rock phosphate from the sea floor, says a doubling in its stock price over two weeks is likely to be investors recognising the potential of the venture.
    Takaka-based CRP’s shares soared to as high as 33 cents on the NZAX alternative market today from 13 cents on Aug. 19. They recently traded down 6.3% at 30 cents, valuing the company at $15.2 million.
    The share surge prompted the NZX to ask the company yesterday if it was still in compliance with disclosure rules or had market sensitive information that could account for the gains.
    “We suggest that the recent increases in the CRP share price may simply reflect the market finally recognising the potential value of CRP,” managing director Chris Castle said in his response. “The rationale behind the potential value is a matter that CRP has repeatedly and thoroughly disclosed to the market for a significant period of time now.”
    CRP, or Widespread Energy as it was then known, was granted a prospecting permit on the Chatham Rise last year to test whether the area contains an estimated 100 million tonnes of rock phosphate, which could be worth $28 billion. A successful mining operation could slash New Zealand’s costs for imported fertiliser.
    The estimate comes from 30-year-old data derived from exploration work carried out by the government and companies such as Fletcher Challenge in the 1970s and 1980s.
    CRP plans to raise capital and list on the Toronto Stock Exchange, which already has 19 listed fertiliser companies. It has had the project valued at $34 million, rising to $400 million if successfully executed.
    (BusinessDesk)
    A bit more background from their website.
    Last edited by elZorro; 08-09-2011 at 01:36 PM.

  2. #2
    percy
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    Had a good laugh;director C.D. Castle. !!!!!!!!!!!! ?????????/ Yeah right.!!!!
    Last edited by percy; 08-09-2011 at 03:50 PM.

  3. #3
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    Fair enough Percy, it looks like a good idea in this case, but wouldn't want to see another HGD type scenario. I guess everyone deserves a bit of good luck once in a while, will keep an eye on it with a v.small holding.

  4. #4
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    Why so many exclaimation marks Percy? Never come across him......

  5. #5
    percy
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    Quote Originally Posted by Sideshow Bob View Post
    Why so many exclaimation marks Percy? Never come across him......

    I think you would be best to keep it that way.
    Castle was a one time Brierley Investments employee.He went on to float his own investment company.Major investment was Regina Confectionary,Oamaru.
    His investment record was/is very poor.
    I would not invest in any company Castle was/is connected with.

  6. #6
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    Quote Originally Posted by percy View Post
    I think you would be best to keep it that way.
    Castle was a one time Brierley Investments employee.He went on to float his own investment company.Major investment was Regina Confectionary,Oamaru.
    His investment record was/is very poor.
    I would not invest in any company Castle was/is connected with.
    I found this article Percy, sounds like things were OK by around 2002.
    http://www.sharechat.co.nz/article/c...d-so-what.html

  7. #7
    percy
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    Quote Originally Posted by elZorro View Post
    I found this article Percy, sounds like things were OK by around 2002.
    http://www.sharechat.co.nz/article/c...d-so-what.html
    elZorro,You did well to find that article.I thought it was an excellent read.
    Last edited by percy; 09-09-2011 at 07:46 AM.

  8. #8
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    Hear hear! Should be a compulsory read for everyone on Sharetrader.

    Although one still must maintain a blacklist of fraudsters and idiots like Petricevic & &.

  9. #9
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    A bit of competition perhaps.

    L&M Group in new Chatham Rise phosphate quest

    Ross Louthean — 3 February 2012
    The L&M Group which figures strongly in petroleum exploration, coal seam gas, coal and gold mining is now joining the quest for seafloor phosphate deposits on Chatham Rise.
    The company has formed Chatham Phosphate Ltd which it owns 90%, with the balance held by prospect vendor and veteran geoscientist Roger Gregg.
    New Zealand Petroleum & Minerals has granted a permit on the rise, near the Chatham Islands and well east of Christchurch and it envelopes on three sides of the marine phosphate permit held by Chatham Rock Phosphate Ltd (NZAX: CRP).
    Chairman of the L&M Group, Geoff Loudon, said there are no set plans and the future development of the company because everything is in its infancy. Later, consideration could be given to whether Chatham Phosphate remains private or looks at an IPO.
    Over the years Roger Gregg was involved in studies on the Chatham phosphorites.

  10. #10
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    Certainly can't complain about the recent share price performance with these guys. They have now got some excellent solid cornerstone shareholders, progress is certainly being made towards the ultimate goal of mining the phosphate. They seem to have it all heading in the right direction. Just a note, Percy about your comments on Chris Castle. I am familiar with his past record with CharterCorp, 1987 and all that, but just ponder on this for a moment. He's a risk taker sure, but isn't that the way with people like this who are prepared to put their necks on the line? They don't always win. That's just the way it goes and if one were to survey randomly the propotion of very rich people who had once been bankrupt, and I don't believe Castle ever gotto those depths, then I'm sure you will find there would be a far greater % of ex bankrupts amongst the sample of the very wealthy than there would be from a random sample of the general population.

    Good luck to Castle and Chatham Rock I say. There is a good chance they are on to a winner here and I'm very glad to be along for the ride. It's been a great one over the past couple of weeks and I think over the next couple of years there will be more good news.

  11. #11
    percy
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    Quote Originally Posted by sailor1 View Post
    Certainly can't complain about the recent share price performance with these guys. They have now got some excellent solid cornerstone shareholders, progress is certainly being made towards the ultimate goal of mining the phosphate. They seem to have it all heading in the right direction. Just a note, Percy about your comments on Chris Castle. I am familiar with his past record with CharterCorp, 1987 and all that, but just ponder on this for a moment. He's a risk taker sure, but isn't that the way with people like this who are prepared to put their necks on the line? They don't always win. That's just the way it goes and if one were to survey randomly the propotion of very rich people who had once been bankrupt, and I don't believe Castle ever gotto those depths, then I'm sure you will find there would be a far greater % of ex bankrupts amongst the sample of the very wealthy than there would be from a random sample of the general population.

    Good luck to Castle and Chatham Rock I say. There is a good chance they are on to a winner here and I'm very glad to be along for the ride. It's been a great one over the past couple of weeks and I think over the next couple of years there will be more good news.
    I enjoy your comments and found the article ElZorro refered to in post No.6 most interesting.
    Chris Castle has certainly stuck with it and like you wish him good luck.

  12. #12
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    Chris Castle's investment philosophy is best summed up as "getting small is better".

    He loves share prices to be as low as could possibly be so that the %tage movements allows __________

    (you can fill in the rest).

    What a joke!

  13. #13
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    I hear what you are saying about Chris Castle but i think this venture has a huge future when it gets traction and not just for CRP but for NZ Agriculture and the economy as a whole. I think WID may have a little holding in this venture as well not to be over looked.

  14. #14
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    Quote Originally Posted by elZorro View Post
    I found this article Percy, sounds like things were OK by around 2002.
    http://www.sharechat.co.nz/article/c...d-so-what.html
    A great article is one that stands the test of time

    You notice lately the use of the phrase " Cash is Trash" is becoming widespread once again......

    How easy it is for generations... including Directors (with the best intentions in mind?) to repeat history over and over again. Just one big cycle..mistake.. learn.. forget..make same mistake again.. learn ..forget......make same mistake again.............and those famous mythical words.."but it's different this time"...

    When this current situation goes "pop" Those words of wisdom mentioned within that article will return'''''

    What does failure teach you?

    Cash is king
    Last edited by Hoop; 11-10-2012 at 10:32 AM.

  15. #15
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    Quote Originally Posted by Hoop View Post
    A great article is one that stands the test of time

    You notice lately the use of the phrase " Cash is Trash" is becoming widespread once again......

    How easy it is for generations... including Directors (with the best intentions in mind?) to repeat history over and over again. Just one big cycle..mistake.. learn.. forget..make same mistake again.. learn ..forget......make same mistake again.............and those famous mythical words.."but it's different this time"...

    When this current situation goes "pop" Those words of wisdom mentioned within that article will return'''''

    What does failure teach you?

    Cash is king
    Meanwhile, Chris Castle makes a good living out of 'managing' the companies he brings to investors - WID, ARM and KOS.

    Salary and consultancy fees from WID in 2002 - $300,000

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