Mvelaphanda Resources aus S�dafrika - 500 Beiträge pro Seite

[heddog]

Hallo,
da ich relativ neu in diesem Bereich bin, was Aktien angeht, w�rde mich sehr interessieren, was von Mvelaphanda Resources zu halten ist.


Overview

Mvela Resources is a leading, broad-based, pan-African empowerment mining and minerals company. The Group has significant investments in quality South African precious metal and mineral assets in the gold, platinum and diamond sectors as well as exploration and development joint ventures in sub-Saharan Africa, with a focus on South Africa. While currently invested in the precious metals and diamonds sectors, Mvela Resources is not limited to investing in these resources and will pursue opportunities throughout the mining and minerals sectors, should they add value or benefit the Company strategically.

Listed investments include a 22.3% stake in Northam and a fully diluted 20.7% stake in Trans Hex, with an unlisted deferred 15% position in the South African assets of Gold Fields Limited through GFI-SA. Exploration and development joint ventures have been established with quality global mining groups such as De Beers, Anglo Platinum, Gold Fields, Trans Hex, Etruscan Diamonds and Lonmin. Mvela Resources intends to build a sizable African mining company with world- class assets that can compete in the international mining arena by capitalising on the opportunities provided by empowerment legislation in South Africa and leveraging its financial and technical skills to develop a presence in the rest of Africa.

Mvela Resources� long-term strategy is to ultimately gain operating control over most key investments, but, given financial constraints, the legislative environment which currently only prescribes the sale of 15% � 26% of assets to empowerment companies and shareholding constraints, Mvela Resources is likely to remain primarily on investment holding company or diversified mining house during the initial phase of Mining Charter period.

Operating review

The rand has been the primary driver of operating results and corporate activity in the South African mining sector in recent years. Following a three-year period in which it strengthened significantly against the dollar, the rand peaked at R5.60/US$ in January 2005, losing 18% against the dollar to end FY2005 at R6.65/US$. On the whole, the 12-month period to 30 June 2005 recorded the highest average rand/US dollar exchange rate since the year to 30 June 2000, averaging R6.21/US$. This contrasts with the 12 months to 30 June 2004 and 2003, when the rand averaged R6.88/US$ and R9.03/US$ respectively.

Most South African domiciled mining companies have faced a significant reduction in operating margin during this period, many posting losses despite rampant commodity prices. Despite this, Mvela Resources� associated companies Northam and Trans Hex have continued to generate post-capex profits, and Mvela Resources is one of the few empowerment companies that has received, and expects to receive, positive cash flow, in the form of dividends from Northam and Trans Hex. After March 2009, this will include dividends from its interest in Gold Fields.

Listed investments include a 22.3% stake in Northam Platinum and a fully diluted 20.7% stake in Trans Hex, with an unlisted 15% position in the South African assets of Gold Fields Limited through GFI-SA.

Rand strength and operational problems at Northam in the first half of the financial year, resulted in attributable earnings from associate companies falling from R49 million in FY2004 to R43 million in FY2005. Despite the squeeze on cash flow, this was sufficient to finance project and exploration expenditure of R5.7 million (R14.7 million in FY2004) and corporate expenditure of R21.7 million (R13 million in FY2004).

http://www.mvelares.co.za

[heddog]

http://www.mineweb.net/sections/mining_finance/703644.htm

Consolidation of Mvela Resources’s empowerment
By: Gareth Tredway
Posted: '18-JUL-06 12:50' GMT © Mineweb 1997-2006

JOHANNESBURG (Mineweb.com) -- Mvelaphanda Resources, the South African empowerment company, has received a boost in its empowerment credentials, which should see the company, become more attractive to miners seeking black partners to comply with legislation.

Mvelaphanda Holdings, the unlisted entity headed by former politician, Tokyo Sexwale, has bought up nearly 30% of Mvela Resources, in two deals.

Holdings has repurchased a 22.9% stake in Mvelaphanda holdings out of Mvela Group for nearly R1.2 billion (R31 a share), the stake was initially put there when Holdings injected its assets into JSE listed, Rebserve on the creation of Mvela Group two years ago. Mvela Group is half owned by Holdings.

Holdings has also consolidated Resource’s empowerment credentials by buying the Khumama consortium’s stake, about 6%, for cash, according to Mark Willcox, chief executive of Mvela Holdings. No figure was given, but a 6% stake in Mvela would be worth between R300 million and R350 million.

Khumama received its stake in Mvela Resources when it sold its Booysendal platinum rights to Resources for R80 million in cash and a shareholding in Mvela Resources.

According to Willcox, Khumama is not completely out of the Booysendal project. “Khumama still retains residual participation in the upside of the project,” says Willcox.

Willcox suggests that Holdings could still be interested in purchasing more Mvela shares but said it would not breach the 34.9% threshold, which requires a mandatory offer to all shareholders.

Deal flow has been slow at Mvela Resources over the last couple of years, with the last big one completed two years ago through the purchase of a deferred 15% share in Gold Fields’s South African assets for around R4 billion, which can be swapped for shares in the entire Gold Fields group.

Mvela Holdings does have energy and oil assets in Africa but Willcox says for now these will not be consolidated with its holding in Resources. “The company’s strategy is the consolidation of empowerment interests,” he says.

Mvela Holdings has always retained the management contract over Mvela Resources.

In April a deal for empowerment group Incwala to buy Mvela Holdings’s stake and the management contract in Resources fell through after certain terms of the deal could not be agreed upon.

[heddog]

Schade, ist Mvelaphanda so uninteressant, dass es nichtmal einen einzigen Kommentar wert ist?

Mvela seeks Rio Tinto hook

David McKay
Posted: Sun, 23 Jul 2006

[miningmx.com] -- THE SEPARATION of Mvelaphanda Holdings’ industrial and resources businesses last week – in which Mvelaphanda Group sold its 22,9% stake in Mvelaphanda Resources (Mvela Resources) – should go some way to unshackling the deal-starved mining firm.

In the Mvelaphanda Group (formed following a reverse takeover of Rebserve in 2004) Mvela Resources had a reluctant shareholder. Mvelaphanda Group CEO Stephen Levenberg had already expressed his disaffection for resources.

In addition, the lack of a broad alignment of interests within the entire Mvelaphanda group of companies raised the question as to whether Mvela Resources could rely on Mvelaphanda Group to support its proposed mining deals.

It also created confusion for Mvela Resources’ potential partners. “‘Who are you representing?’ is a question we got often,” says Pine Pienaar, CEO of Mvela Resources. “Group wasn’t committed to resources.”
Rio Tinto would interest us
The outcome is more a restructuring of the entire Mvelaphanda pyramid, which has unlisted Mvelaphanda Holdings at its apex. The parent company now becomes a direct 30% shareholder in Mvela Resources after buying 22,9% from Mvelaphanda Group for around R1,2bn and picking up a further 6% from the market.

There may have been higher bids for the stake in Mvela Resources from two other empowerment consortiums. But renegotiating the management contract that currently exists between Mvelaphanda Holdings and Mvela Resources could have taken months.

It’s also worth remembering that negotiating the management contract helped sink Incwala Resources’ R760m bid for Mvela Resources in April, a recurrence of which Levenberg was anxious to avoid.

In terms of Mvelaphanda Holdings’ offer there’s no need to relinquish the management contract between Mvela Resources and the parent. There’s also symmetry in that Tokyo Sexwale provides focused support for both resources and industrial interests equally.

For its part, Mvelaphanda Group has up to R1,5bn in spending money to grow while Mvela Resources has lifted its empowerment credentials, a development that will enable it to finance its own growth ambitions should it decide to issue shares for deals.

Pienaar says that there are a number of new transactions pending. One interesting avenue is a concerted move into Africa by leveraging Sexwale’s brand in far-flung places, such as the Democratic Republic of Congo (DRC).

Mirroring a tacit understanding between Britain’s Xstrata and African Rainbow Minerals (ARM) to co-operate in developing African assets, Mvela Resources has an interest in helping Rio Tinto, another British company, make a belated entry into resources in Africa.

“Rio Tinto would interest us,” says Pienaar. “There might be an opportunity that’s too big for our profile but would require a strategic partner. We’ve also got a good relationship with BHP Billiton. Assets that De Beers has in Africa that don’t fit its profile – such as alluvial deposits – would also be a possibility.”

Bloomberg News reports that Rio Tinto is to open an office in Johannesburg as part of a concerted push into Africa. “The trend is upward” in Africa, Nick Cobban, a spokesman for Rio Tinto, told the news agency. Rio Tinto’s policy was to search for “long-term, profitable, large-scale deposits” that could be developed in a stable environment, Cobben said.

Rio Tinto has also said it would identify empowerment partners for Palabora Copper and Richards Bay Minerals, assets that Rio Tinto owns in SA and for which Mvela Resources must consider itself a prime candidate.

Commenting on its African plans, André Wilkens, CEO of ARM, says the company is “putting together ideas” with Xstrata. “We’re looking at what we have. Africa is still the only place where you can get assets at the bottom of the value curve.”

One possibility is through TEAL Exploration & Mining, the Toronto listed firm in which ARM has a 65% stake. Wilkens says that he’s happy with the holding and believes it “will become our copper arm”. That’s where Xstrata could fit in, as one of TEAL’s best assets is the underground copper mine at Konkola North in Zambia.

http://www.miningmx.com/mining_fin/748980.htm