Climax - Informationen zur Kapitalerhöhung - 500 Beiträge pro Seite
eröffnet am 06.08.01 02:11:11 von
neuester Beitrag 15.08.01 16:12:33 von
neuester Beitrag 15.08.01 16:12:33 von
Beiträge: 18
ID: 450.459
ID: 450.459
Aufrufe heute: 0
Gesamt: 479
Gesamt: 479
Aktive User: 0
Top-Diskussionen
Titel | letzter Beitrag | Aufrufe |
---|---|---|
vor 1 Stunde | 4896 | |
vor 1 Stunde | 4771 | |
heute 17:13 | 4560 | |
vor 1 Stunde | 4167 | |
vor 1 Stunde | 3688 | |
vor 1 Stunde | 2870 | |
vor 1 Stunde | 2667 | |
heute 16:29 | 2562 |
Meistdiskutierte Wertpapiere
Platz | vorher | Wertpapier | Kurs | Perf. % | Anzahl | ||
---|---|---|---|---|---|---|---|
1. | 1. | 18.495,48 | -0,15 | 111 | |||
2. | Neu! | 0,1550 | -86,22 | 69 | |||
3. | Neu! | 20,860 | -5,61 | 45 | |||
4. | 9. | 176,88 | -1,64 | 40 | |||
5. | 30. | 2,1400 | -0,47 | 39 | |||
6. | Neu! | 1,0350 | +13,85 | 38 | |||
7. | 6. | 7,9000 | +0,64 | 37 | |||
8. | 13. | 4,9080 | -0,73 | 36 |
Die neuen Aktien werden den vorhandenen Aktionären im Verhältnis 1:1 für 0,30 A$ angeboten. Für ausländische Aktionäre soll das Angebot aber nicht gelten. Das ist das ärgerliche an der Sache ...
CLIMAX MINING LIMITED
2001-08-03
Climax Mining has today lodged the Prospectus for a rights issue to
shareholders at 3 cents per share to raise a total of $4.2 million.
The prospectus for a rights issue of one new share at 3 cents for
each share held will be mailed by mid-August.
Climax Mining Chairman, Mr Terry Fern, said that as a result of
political issues in the Philippines and continued weakness in metal
prices, the US$90 million project loan syndication required to
complete the financing of the Dinkidi gold copper project in the
Philippines was postponed earlier in the year.
"This disappointing outcome prompted a detailed re-examination of our
earlier work. This analysis, supported by independent review, has
established that a staged development may be economically viable"
"The first stage of this new development concept is based on
underground mining using conventional cut-and-fill techniques,
initially, to recover 1.8 million tonnes of ore averaging 8.63 grams
per tonne gold and 1.28% copper together with 600,000 tonnes of open
pit ore grading 1.92 grams per tonne gold and 1.6% copper. Ore
treatment would be by conventional gravity and flotation
concentration with initial recovery of 536,000 ounces of gold and 70
million pounds of copper. Capital cost to develop the concept is
estimated at US$33 million with an estimated construction time of 12
months" Mr Fern said.
"We are seeking this additional funding to advance this fresh
approach to the development of the Dinkidi deposit to the degree
necessary to encourage interest in third party funding of the
development process."
"Your directors will be taking up their entitlement to the issue in
full and that, together with additional undertakings, ensures
subscriptions of at least $1.5 million" Mr Fern added.
For further information please contact:
Terry Fern David Ronayne-Mahony
CHAIRMAN GENERAL MANAGER
Climax Mining Ltd Climax Mining Ltd
(02) 9252 1066 (02) 9252 1066
Additional details on the company and its activities are available on
the Climax Mining Ltd website:www.climaxmining.com.au
The information in this report relating to resources was based on
information compiled by Paul Joyce of Kingfisher Technologies Pty
Limited who is a Member of the Australian Institute of Geoscientists
and qualifies as a Competent Person as defined in the 1999 edition of
the "Australasian Code for Reporting of Mineral Resources and OreReserves".
NEW ISSUE ANNOUNCEMENT
APPLICATION FOR QUOTATION OF ADDITIONAL SECURITIES AND AGREEMENT
Information or documents not available now must be given to ASX as
soon as available. Information and documents given to ASX become
ASX`s property and may be made public.
Introduced 1/7/96. Origin Appendix 5. Amended 1/7/98, 1/9/99,1/7/2000.
Name of EntityClimax Mining LimitedACN or ARBN000 250 500
We (the entity) give ASX the following information.
PART 1 - ALL ISSUES
You must complete the relevant sections (attach sheets if
there is not enough space).
1. Class of securities issued Ordinary Shares
or to be issued
2. Number of securities issued 141,578,994
or to be issued (if known)
or maximum number which
may be issued
3. Principal terms of the securities N/A
(eg, if options, exercise price
and expiry date; if partly paid
securities, the amount
outstanding and due dates for
payment; if convertible securities,
the conversion price and dates
for conversion)
4. Do the securities rank equally Yes
in all respects from the date
of allotment with an existing
class of quoted securities
If the additional securities
do not rank equally, please
state:
* the date from which they do
* the extent to which they
participate for the next
dividend, (in the case of
a trust, distribution) or
interest payment
* the extent to which they do
not rank equally, other than
in relation to the next
dividend, distribution or
interest payment
5. Issue price or consideration $0.03
6. Purpose of the issue (if To advance a new concept for
issued as consideration for development of the Dinkidi
the acquisition of assets, gold copper project and for
clearly identify those the other operations of the
assets) Company.
7. Dates of entering securities 28/09/2001
into uncertified holdings
or despatch of certificates
NUMBER CLASS
8. Number and class of all 283,087,988 Ordinary
securities quoted on
ASX (including the
securities in clause
2 if applicable)
NUMBER CLASS
9. Number and class of all 180,000 CMXQ Employee Options
securities not quoted
on ASX (including the 5,000,000 CMXAS
securities in clause 2
if applicable)
10.Dividend policy (in the case No dividends have been
of a trust, distribution declared.
policy) on the increased
capital (interests)
PART 2 - BONUS ISSUE OR PRO RATA ISSUE
11. Is security holder approval No
required
12. Is the issue renounceable Non-renounceable
or non-renounceable
13. Ratio in which the securities One new share for every share
will be offered held.
14. Class of securities to which Ordinary Shares
the offer relates
15. Record date to determine 14/08/2001
entitlements
16. Will holdings on different Yes
registers (or subregisters)
be aggregated for calculating
entitlements
17. Policy for deciding entitlements Fractions will be disregarded.
in relation to fractions
18. Names of countries in which the All countries except Australia
entity has security holders and New Zealand. Entitlements
who will not be sent new issue of Shareholders with registered
documents addresses other than Ausralian
or New Zealand will be
Note: Security holders must be forfeited and form part of the
told how their entitlements shortfall which may be issued
are to be dealt with. by directors within 3 months of
the close of the issue.
Cross reference: rule 7.7.
19. Closing date for receipt of 11/09/2001
acceptances or renunciations
20. Names of any underwriters The issue is not underwritten.
The Company holds
commitments including those of
the Directors which will ensure
subscription to the issue of
at least $1.5 million.
21. Amount of any underwriting fee $20,000
or commission
22. Names of any brokers to the N/A
issue
23. Fee or commission payable to Nil
the broker to the issue
24. Amount of any handling fee Nil
payable to brokers who
lodge acceptances or
renunciations on behalf
of security holders
25. If the issue is contingent N/A
on security holders`
approval, the date of
the meeting
26. Date entitlement and acceptance 17/08/2001
form and prospectus will be
sent to persons entitled
27. If the entity has issued options, N/A
and the terms entitle option
holders to participate on
exercise, the date on which
notices will be sent to
option holders
28. Date rights trading will begin N/A
(if applicable)
29. Date rights trading will end N/A
(if applicable)
30. How do security holders sell N/A
their entitlements in full
through a broker
31. How do security holders sell N/A
part of their entitlements
through a broker and accept
for the balance
32. How do security holders dispose N/A
of their entitlements (except
by sale through a broker)
33. Despatch date N/APART 3 -
QUOTATION OF SECURITIES
You need only complete this section if you are applying for quotation
of securities 34. Type of securities (tick one)
(a) X Securities described in Part 1 (b) All other securities
Example: restricted securities at the end of the escrowed period,
partly paid securities that become fully paid, employee incentive
share securities when restriction ends, securities issued on expiry
or conversion of convertible securities Entities that have Ticked Box 34(a)
Additional Securities Forming a New Class of Securities
(If the additional securities do not form a new class, go to 43)
Tick to indicate you are providing the information or documents
35. The names of the 20 largest holders of the additional
securities, and the number and percentage of
additional securities held by those holders
36. A distribution schedule of the additional securities
setting out the number of holders in the categories 1 - 1,000
1,001 - 5,000 5,001 - 10,000 10,001 - 100,000
100,001 - and over
37. A copy of any trust deed for the additional securities(now go to 43)
Entities that have Ticked Box 34 (b) Items 38 to 42 are Not Applicable
ALL ENTITIES Fees
43. Payment method (tick one) Cheque attached
Electronic payment made
Note: Payment may be made electronically if Appendix 3B is
given to ASX electronically at the same time.
X Periodic payment as agreed with the home branch has been arranged
Note: Arrangements can be made for employee incentive
schemes that involve frequent issues of securities.
QUOTATION AGREEMENT
1. Quotation of our additional securities is in ASX`s absolute
discretion. ASX may quote the securities on any conditions it decides.
2. We warrant to ASX that the issue of the securities to be quoted
complies with the law and is not for an illegal purpose, and that
there is no reason why those securities should not be granted
quotation. We warrant to ASX that an offer of the securities for
sale within 12 months after their issue will not require
disclosure under section 707(3) of the Corporations Law.
3. We will indemnify ASX to the fullest extent permitted by law in
respect of any claim, action or expense arising from or connected
with any breach of the warranties in this agreement.
4. We give ASX the information and documents required by this form.
If any information or document not available now, will give it to
ASX before quotation of the securities begins. We acknowledge that
ASX is relying on the information and documents. We warrant that
they are (will be) true and complete.
G H Fulcher
COMPANY SECRETARY03/08/2001
CLIMAX MINING LIMITED
2001-08-06
PROSPECTUS DATED 3 AUGUST 2001
For a Non-renounceable issue of one New Ordinary Share for every
ordinary share at an issue price of 3 cents each to raise
approximately $4.2 millionThis issue is not underwritten
IMPORTANT NOTICE TO ALL SHAREHOLDERS
This document requires your immediate attention. It should be read in
its entirety. If you are in doubt as to the course you should follow,
or you need an informed opinion, you should consult your stockbroker,
solicitor, accountant or other professional adviser immediately.
Applications must be lodged by 5.00pm on 11 September 2001
TIMETABLE OF IMPORTANT DATES
* Announcement of Issue 3 August 2001
* Prospectus lodged with ASIC and ASX 3 August 2001
* Record Date to determine entitlement to
New Shares 14 August 2001
* Issue closes at 5.00pm, last date for
acceptance and payment in full 11 September 2001
* Allotment of New Shares and dispatch of
shareholder statements 28 September 2001
Climax Mining reserves the right to extend the closing date of the
Issue without reference to the Eligible Shareholders.
CHAIRMAN`S LETTER
Climax Mining was granted the exploration and development rights over
the Company`s major copper, gold discovery at Didipio, 200 kms
north-east of Manila, Philippines by the Philippines Government,
through President Fidel Ramos in 1994. The agreement with the
Philippines Government was formalised in the first Financial or
Technical Assistance Agreement, the Didipio FTAA.
The initial feasibility study, completed in 1996, estimated that the
Dinkidi deposit has a Measured, Indicated and Inferred Resource of
121m tonnes of 0.97 grams per tonne gold and 0.39% copper (1.49 grams
per tonne gold equivalent), containing some four million ounces of
gold and one billion pounds of copper, amenable to large scale openpit mining.
A substantial decline in copper and gold prices in 1996 caused your
Company to seek a smaller, more flexible development. By early 1999,
the feasibility study had established a viable underground block cave
development within the central core of the deposit, with a mining
reserve of 17.8 million tonnes of 2.37 grams per tonne gold and 0.67%
copper (3.04 grams per tonne of gold equivalent). This US$138 million
development was expected to recover 1.3 million ounces of gold and
250 million pounds of copper over nine years.
By January 2000, the feasibility study had been concluded and the
Environmental Compliance Certificate issued by the Philippines
Government for the development of the mine. All the financial, social
and environmental processes were designed to meet the exacting
standards of international capital markets and of the Philippines and
Australian regulatory authorities.
By early 2000, the project had attracted offers of US$42.5 million in
equity and quasi equity from a major smelter corporation and a
multilateral agency, subject to the provision of debt finance.
Standard Bank London Limited advised that project economics at the
time indicated that the project could support debt of US$90 million
and the bank was formally retained last year to raise a syndicated
US$90 million project loan.
To the disappointment of your Directors, the political problems in
the Philippines, compounded by continuing weakness in gold and copper
prices, brought a halt to the proposed financing. Under present
conditions, it is considered that the large-scale development of
Dinkidi will only be possible in the context of higher metal prices
or in circumstances where the Philippines Government determines that
the commencement of the project is in the national interest.
Your Directors believe that, rather than waiting for commodity prices
to rise or for the resource financiers to become more comfortable
with the political position in the Philippines, the deposit should be
developed as soon as is practicable. In the current climate, your
Directors believe this can best be achieved with an initially smaller
scale development.Consequently, the Company has reviewed its previous studies to
determine if an alternative mine development is feasible.
Internal analysis, supported by independent review, indicates that a
staged development may be economically viable. A relatively small
open pit and underground development would form the first stage, with
continued mining of the remainder of the resource as circumstancespermit.
The proposed first stage development, estimated to have a capital
cost of US$33 million, is based on underground mining by conventional
cut and fill methods, at a rate of 300,000 tonnes per annum, to
recover approximately 1.8 million tonnes of ore averaging 8.63 grams
per tonne gold and 1.28% copper, using a cut off grade of 5.0 grams
per tonne gold equivalent, together with recovery of approximately
600,000 tonnes of open pit ore grading 1.92 grams per tonne gold and
1.6% copper, using a cut-off grade of 2.0 grams per tonne gold
equivalent. Average cash operating costs are estimated at US$39 pertonne of ore.
Ore treatment would be by gravity concentration, recovering
approximately 50% of the gold, combined with conventional flotation
concentration producing a high-grade copper, gold concentrate
(approximately 30% copper, and 60 grams of gold per tonne).
This first stage development is expected to recover in the order of
536,000 ounces of gold and 70 million pounds of copper.
In order to advance this proposal, your Company is seeking to raise
additional working capital by way of a 1:1 rights issue at 3 cents
per share. This working capital will also enable the Company to
progress its other exploration assets. The issue closes at 5.00pm on
11 September 2001.Your entitlement to new shares is stated in the accompanying
Entitlement and Application form. Your Directors, who hold
approximately 9.4% of the issued shares of the Company, will be
taking up their entitlement in full.
T N Fern CHAIRMAN
PURPOSE OF THE ISSUE
The main purpose of the Issue is to raise sufficient working capital
to develop the new concept for exploiting the Dinkidi gold, copper
deposit, in order to extract significant value from this investment.
The Issue will also provide working capital for the Company to
progress the Company`s other exploration assets.DINKIDI CONCEPT STUDY
Given the current political and metal price outlook, Climax Mining
has re-examined the whole approach to the mining of Dinkidi and has
determined that a smaller scale staged development is technically
possible. This new approach has numerous advantages; the initial
capital funding requirements are substantially less and, being a
staged development, it is inherently more flexible. It has the added
advantage of the early generation of cash flow to fund development of
later stages of mining development.
The new concept is based on mining the high grade underground
resource, using conventional cut and fill methods, at 300,000 tonnes
per annum ("tpa") over an eight year period together with a small
scale open pit to provide additional ore for treatment. The project
estimates are based on the data from the Company`s previously
completed definitive feasibility study, modified by applying a
cut-off grade of 5 grams per tonne (g/t) gold equivalent as opposed
to the 2 g/t gold equivalent cut-off used for the larger scale block
caving proposal.
Over the projected life of the higher grade operation, an estimated
1.8 million tonnes of underground ore, averaging 8.63g/t gold and
1.28% copper and approximately 600,000 tonnes of open pit ore,
averaging 1.92 g/t gold and 1.60% copper could be mined and treated,
to recover 536,000 ounces of gold and 70 million pounds of copper.
Ore treatment would be by conventional concentration producing gold
as dore by gravity concentration methods and a high grade copper
flotation concentrate containing gold (30% copper and 60 g/t gold).
Estimated average cash operating costs are US$39 per tonne of ore and
estimated capital expenditure to production is in the order of US$33million.
The concept study has been completed to an order of accuracy of
between -15% to +25%. Further review is necessary to validate key
assumptions and to settle the economics of this course of action.
Included in this further work will be an analysis of the oxide zone
and its suitability for gravitational recovery of the contained gold.
When Climax Mining completes evaluation and preliminary design work,
Climax Mining will seek either the introduction of a partner to fund
the development process or other ways to realise value from theasset.
DETAILS OF THE ISSUE
DETAILS OF THE ISSUENON-RENOUNCEABLE ISSUE
The number of Shares on issue at 3 August 2001, being the date of
this Prospectus, was 141,578,994 Shares.
This offer is made as a Non-renounceable issue to Eligible
Shareholders on the basis of one New Share for every Share held. The
issue of up to 141,578,994 Shares at the price of 3 cents will raise
approximately $4.2 million if fully subscribed. The New Shares will
be classed as fully paid ordinary shares.There is no minimum subscription.
RECORD DATEThe Record Date for determining entitlements to the issue is 5pm on
14 August 2001.
UNDERWRITING
This Issue is not underwritten. The Directors reserve the right to
place any shortfall at the issue price or higher within three months
of the close of the Issue.CLOSING DATE
The offer of New Shares may be accepted prior to 5.00 pm on 11
September 2001. The Company reserves the right to extend the ClosingDate.
PAYMENT UPON ACCEPTANCE OF THE OFFER
An application for New Shares must be accompanied by payment in full
at the rate of 3 cents for each New Share applied for.
Cheques or bank drafts must be in Australian currency, drawn on a
bank in Australia and made payable to "Climax Mining Ltd" and crossed
"Not Negotiable".
Cheques should accompany duly completed Entitlement and Application
Forms and be received no later than 5.00pm on 11 September 2001.
Reply paid envelopes are provided for the convenience of applicants.
QUOTATION ON AUSTRALIAN STOCK EXCHANGE
An application for admission of the New Shares to quotation on ASX
will be made to ASX within 7 days after the date of this Prospectus.
Subject to ASX approval, it is usual that ASX quotation for the New
Shares will initially be on a deferred settlement basis and
thereafter the New Shares will be quoted as part of the same class as
the Shares on issue at the date of this Prospectus.RIGHTS ATTACHING TO SHARES
The New Shares to be issued pursuant to this Prospectus are ordinary
shares and will as from their allotment rank equally in all respects
with the Company`s existing ordinary shares.
DIRECTORS` INTENTIONS
The Company has been advised that it is the intention of the
Directors and their associates to take up their full entitlements.
SHORTFALL
The Directors reserve the right to place any shortfall in the New
Shares not taken up by Eligible Shareholders at the issue price of 3
cents or higher and in all other respects on the same terms as the
New Shares offered pursuant to this Prospectus, within three months
of the closing date of the Issue. The Company may pay to licenced
dealers in securities, a fee in respect of amounts raised on
placement of any shortfall of the issue. Directors and their
associates are not permitted to participate in any distribution of
such shortfall.The Company holds commitments, including those of the Directors,
which will ensure subscription to the Issue of at least $1.5 million.
APPLICATION MONEY
All application money received shall be held by the Company in trust
in accordance with the Corporations Act until New Shares are issued
to the applicants. No interest will be paid to Shareholders on money
received. Interest earned on application money will be for the
benefit of the Company irrespective of whether the New Shares areissued.
OVERSEAS SHAREHOLDERS
After consideration of the substantial costs of compliance with the
securities laws of other jurisdictions, the small number of those
shareholders with registered addresses outside Australia and New
Zealand and the small number and value of securities those
shareholders would be offered, the Directors have determined that the
Company will not extend the offer to shareholders with registered
addresses outside Australia and New Zealand.
TAXATION
Eligible Shareholders should consult their accountant, financial
adviser or other professional adviser as to the taxation implications
of acquiring New Shares under this Prospectus and should satisfy
themselves of the particular taxation treatment that applies to them.
EFFECT ON THE COMPANY
The effects of the Issue assuming full subscription will be:
(a) an increase in cash by approximately $4.2 million before paying
the estimated expense of the Issue;
(b) an increase in the number of Shares on issue by 141,578,994Shares; and
(c) to carry out the purpose of the Issue outlined in Section 3 of
this Prospectus.
PRO-FORMA CAPITAL STRUCTURE
Assuming full subscription, the Issue will have the following effect
on the capital structure of Climax Mining.
NO OF SHARES $
At 30 June 2001 141,578,994 38,329,130
Offered by this ProspectusFully paid ordinary shares at
an issue price of 3 cents (1) 141,578,994 4,192,370
Unaudited pro-forma post-issueStatement of Financial Position
Contributed Equity 288,157,988 42,521,500
(1) The above proceeds from the Issue are shown after estimated Issue
costs of $68,000.
PRO-FORMA STATEMENT OF FINANCIAL POSITION
The consolidated unaudited Pro-forma post-Issue Statement of
Financial Position is based on the consolidated 30 June 2001
statement of Financial Position of Climax Mining as contained in the
Annual Financial Report, adjusted to reflect the financial position
of Climax Mining had the rights issue occurred at 30 June 2001 and
was fully subscribed.
CLIMAX MINING LIMITED
2001-08-03
Climax Mining has today lodged the Prospectus for a rights issue to
shareholders at 3 cents per share to raise a total of $4.2 million.
The prospectus for a rights issue of one new share at 3 cents for
each share held will be mailed by mid-August.
Climax Mining Chairman, Mr Terry Fern, said that as a result of
political issues in the Philippines and continued weakness in metal
prices, the US$90 million project loan syndication required to
complete the financing of the Dinkidi gold copper project in the
Philippines was postponed earlier in the year.
"This disappointing outcome prompted a detailed re-examination of our
earlier work. This analysis, supported by independent review, has
established that a staged development may be economically viable"
"The first stage of this new development concept is based on
underground mining using conventional cut-and-fill techniques,
initially, to recover 1.8 million tonnes of ore averaging 8.63 grams
per tonne gold and 1.28% copper together with 600,000 tonnes of open
pit ore grading 1.92 grams per tonne gold and 1.6% copper. Ore
treatment would be by conventional gravity and flotation
concentration with initial recovery of 536,000 ounces of gold and 70
million pounds of copper. Capital cost to develop the concept is
estimated at US$33 million with an estimated construction time of 12
months" Mr Fern said.
"We are seeking this additional funding to advance this fresh
approach to the development of the Dinkidi deposit to the degree
necessary to encourage interest in third party funding of the
development process."
"Your directors will be taking up their entitlement to the issue in
full and that, together with additional undertakings, ensures
subscriptions of at least $1.5 million" Mr Fern added.
For further information please contact:
Terry Fern David Ronayne-Mahony
CHAIRMAN GENERAL MANAGER
Climax Mining Ltd Climax Mining Ltd
(02) 9252 1066 (02) 9252 1066
Additional details on the company and its activities are available on
the Climax Mining Ltd website:www.climaxmining.com.au
The information in this report relating to resources was based on
information compiled by Paul Joyce of Kingfisher Technologies Pty
Limited who is a Member of the Australian Institute of Geoscientists
and qualifies as a Competent Person as defined in the 1999 edition of
the "Australasian Code for Reporting of Mineral Resources and OreReserves".
NEW ISSUE ANNOUNCEMENT
APPLICATION FOR QUOTATION OF ADDITIONAL SECURITIES AND AGREEMENT
Information or documents not available now must be given to ASX as
soon as available. Information and documents given to ASX become
ASX`s property and may be made public.
Introduced 1/7/96. Origin Appendix 5. Amended 1/7/98, 1/9/99,1/7/2000.
Name of EntityClimax Mining LimitedACN or ARBN000 250 500
We (the entity) give ASX the following information.
PART 1 - ALL ISSUES
You must complete the relevant sections (attach sheets if
there is not enough space).
1. Class of securities issued Ordinary Shares
or to be issued
2. Number of securities issued 141,578,994
or to be issued (if known)
or maximum number which
may be issued
3. Principal terms of the securities N/A
(eg, if options, exercise price
and expiry date; if partly paid
securities, the amount
outstanding and due dates for
payment; if convertible securities,
the conversion price and dates
for conversion)
4. Do the securities rank equally Yes
in all respects from the date
of allotment with an existing
class of quoted securities
If the additional securities
do not rank equally, please
state:
* the date from which they do
* the extent to which they
participate for the next
dividend, (in the case of
a trust, distribution) or
interest payment
* the extent to which they do
not rank equally, other than
in relation to the next
dividend, distribution or
interest payment
5. Issue price or consideration $0.03
6. Purpose of the issue (if To advance a new concept for
issued as consideration for development of the Dinkidi
the acquisition of assets, gold copper project and for
clearly identify those the other operations of the
assets) Company.
7. Dates of entering securities 28/09/2001
into uncertified holdings
or despatch of certificates
NUMBER CLASS
8. Number and class of all 283,087,988 Ordinary
securities quoted on
ASX (including the
securities in clause
2 if applicable)
NUMBER CLASS
9. Number and class of all 180,000 CMXQ Employee Options
securities not quoted
on ASX (including the 5,000,000 CMXAS
securities in clause 2
if applicable)
10.Dividend policy (in the case No dividends have been
of a trust, distribution declared.
policy) on the increased
capital (interests)
PART 2 - BONUS ISSUE OR PRO RATA ISSUE
11. Is security holder approval No
required
12. Is the issue renounceable Non-renounceable
or non-renounceable
13. Ratio in which the securities One new share for every share
will be offered held.
14. Class of securities to which Ordinary Shares
the offer relates
15. Record date to determine 14/08/2001
entitlements
16. Will holdings on different Yes
registers (or subregisters)
be aggregated for calculating
entitlements
17. Policy for deciding entitlements Fractions will be disregarded.
in relation to fractions
18. Names of countries in which the All countries except Australia
entity has security holders and New Zealand. Entitlements
who will not be sent new issue of Shareholders with registered
documents addresses other than Ausralian
or New Zealand will be
Note: Security holders must be forfeited and form part of the
told how their entitlements shortfall which may be issued
are to be dealt with. by directors within 3 months of
the close of the issue.
Cross reference: rule 7.7.
19. Closing date for receipt of 11/09/2001
acceptances or renunciations
20. Names of any underwriters The issue is not underwritten.
The Company holds
commitments including those of
the Directors which will ensure
subscription to the issue of
at least $1.5 million.
21. Amount of any underwriting fee $20,000
or commission
22. Names of any brokers to the N/A
issue
23. Fee or commission payable to Nil
the broker to the issue
24. Amount of any handling fee Nil
payable to brokers who
lodge acceptances or
renunciations on behalf
of security holders
25. If the issue is contingent N/A
on security holders`
approval, the date of
the meeting
26. Date entitlement and acceptance 17/08/2001
form and prospectus will be
sent to persons entitled
27. If the entity has issued options, N/A
and the terms entitle option
holders to participate on
exercise, the date on which
notices will be sent to
option holders
28. Date rights trading will begin N/A
(if applicable)
29. Date rights trading will end N/A
(if applicable)
30. How do security holders sell N/A
their entitlements in full
through a broker
31. How do security holders sell N/A
part of their entitlements
through a broker and accept
for the balance
32. How do security holders dispose N/A
of their entitlements (except
by sale through a broker)
33. Despatch date N/APART 3 -
QUOTATION OF SECURITIES
You need only complete this section if you are applying for quotation
of securities 34. Type of securities (tick one)
(a) X Securities described in Part 1 (b) All other securities
Example: restricted securities at the end of the escrowed period,
partly paid securities that become fully paid, employee incentive
share securities when restriction ends, securities issued on expiry
or conversion of convertible securities Entities that have Ticked Box 34(a)
Additional Securities Forming a New Class of Securities
(If the additional securities do not form a new class, go to 43)
Tick to indicate you are providing the information or documents
35. The names of the 20 largest holders of the additional
securities, and the number and percentage of
additional securities held by those holders
36. A distribution schedule of the additional securities
setting out the number of holders in the categories 1 - 1,000
1,001 - 5,000 5,001 - 10,000 10,001 - 100,000
100,001 - and over
37. A copy of any trust deed for the additional securities(now go to 43)
Entities that have Ticked Box 34 (b) Items 38 to 42 are Not Applicable
ALL ENTITIES Fees
43. Payment method (tick one) Cheque attached
Electronic payment made
Note: Payment may be made electronically if Appendix 3B is
given to ASX electronically at the same time.
X Periodic payment as agreed with the home branch has been arranged
Note: Arrangements can be made for employee incentive
schemes that involve frequent issues of securities.
QUOTATION AGREEMENT
1. Quotation of our additional securities is in ASX`s absolute
discretion. ASX may quote the securities on any conditions it decides.
2. We warrant to ASX that the issue of the securities to be quoted
complies with the law and is not for an illegal purpose, and that
there is no reason why those securities should not be granted
quotation. We warrant to ASX that an offer of the securities for
sale within 12 months after their issue will not require
disclosure under section 707(3) of the Corporations Law.
3. We will indemnify ASX to the fullest extent permitted by law in
respect of any claim, action or expense arising from or connected
with any breach of the warranties in this agreement.
4. We give ASX the information and documents required by this form.
If any information or document not available now, will give it to
ASX before quotation of the securities begins. We acknowledge that
ASX is relying on the information and documents. We warrant that
they are (will be) true and complete.
G H Fulcher
COMPANY SECRETARY03/08/2001
CLIMAX MINING LIMITED
2001-08-06
PROSPECTUS DATED 3 AUGUST 2001
For a Non-renounceable issue of one New Ordinary Share for every
ordinary share at an issue price of 3 cents each to raise
approximately $4.2 millionThis issue is not underwritten
IMPORTANT NOTICE TO ALL SHAREHOLDERS
This document requires your immediate attention. It should be read in
its entirety. If you are in doubt as to the course you should follow,
or you need an informed opinion, you should consult your stockbroker,
solicitor, accountant or other professional adviser immediately.
Applications must be lodged by 5.00pm on 11 September 2001
TIMETABLE OF IMPORTANT DATES
* Announcement of Issue 3 August 2001
* Prospectus lodged with ASIC and ASX 3 August 2001
* Record Date to determine entitlement to
New Shares 14 August 2001
* Issue closes at 5.00pm, last date for
acceptance and payment in full 11 September 2001
* Allotment of New Shares and dispatch of
shareholder statements 28 September 2001
Climax Mining reserves the right to extend the closing date of the
Issue without reference to the Eligible Shareholders.
CHAIRMAN`S LETTER
Climax Mining was granted the exploration and development rights over
the Company`s major copper, gold discovery at Didipio, 200 kms
north-east of Manila, Philippines by the Philippines Government,
through President Fidel Ramos in 1994. The agreement with the
Philippines Government was formalised in the first Financial or
Technical Assistance Agreement, the Didipio FTAA.
The initial feasibility study, completed in 1996, estimated that the
Dinkidi deposit has a Measured, Indicated and Inferred Resource of
121m tonnes of 0.97 grams per tonne gold and 0.39% copper (1.49 grams
per tonne gold equivalent), containing some four million ounces of
gold and one billion pounds of copper, amenable to large scale openpit mining.
A substantial decline in copper and gold prices in 1996 caused your
Company to seek a smaller, more flexible development. By early 1999,
the feasibility study had established a viable underground block cave
development within the central core of the deposit, with a mining
reserve of 17.8 million tonnes of 2.37 grams per tonne gold and 0.67%
copper (3.04 grams per tonne of gold equivalent). This US$138 million
development was expected to recover 1.3 million ounces of gold and
250 million pounds of copper over nine years.
By January 2000, the feasibility study had been concluded and the
Environmental Compliance Certificate issued by the Philippines
Government for the development of the mine. All the financial, social
and environmental processes were designed to meet the exacting
standards of international capital markets and of the Philippines and
Australian regulatory authorities.
By early 2000, the project had attracted offers of US$42.5 million in
equity and quasi equity from a major smelter corporation and a
multilateral agency, subject to the provision of debt finance.
Standard Bank London Limited advised that project economics at the
time indicated that the project could support debt of US$90 million
and the bank was formally retained last year to raise a syndicated
US$90 million project loan.
To the disappointment of your Directors, the political problems in
the Philippines, compounded by continuing weakness in gold and copper
prices, brought a halt to the proposed financing. Under present
conditions, it is considered that the large-scale development of
Dinkidi will only be possible in the context of higher metal prices
or in circumstances where the Philippines Government determines that
the commencement of the project is in the national interest.
Your Directors believe that, rather than waiting for commodity prices
to rise or for the resource financiers to become more comfortable
with the political position in the Philippines, the deposit should be
developed as soon as is practicable. In the current climate, your
Directors believe this can best be achieved with an initially smaller
scale development.Consequently, the Company has reviewed its previous studies to
determine if an alternative mine development is feasible.
Internal analysis, supported by independent review, indicates that a
staged development may be economically viable. A relatively small
open pit and underground development would form the first stage, with
continued mining of the remainder of the resource as circumstancespermit.
The proposed first stage development, estimated to have a capital
cost of US$33 million, is based on underground mining by conventional
cut and fill methods, at a rate of 300,000 tonnes per annum, to
recover approximately 1.8 million tonnes of ore averaging 8.63 grams
per tonne gold and 1.28% copper, using a cut off grade of 5.0 grams
per tonne gold equivalent, together with recovery of approximately
600,000 tonnes of open pit ore grading 1.92 grams per tonne gold and
1.6% copper, using a cut-off grade of 2.0 grams per tonne gold
equivalent. Average cash operating costs are estimated at US$39 pertonne of ore.
Ore treatment would be by gravity concentration, recovering
approximately 50% of the gold, combined with conventional flotation
concentration producing a high-grade copper, gold concentrate
(approximately 30% copper, and 60 grams of gold per tonne).
This first stage development is expected to recover in the order of
536,000 ounces of gold and 70 million pounds of copper.
In order to advance this proposal, your Company is seeking to raise
additional working capital by way of a 1:1 rights issue at 3 cents
per share. This working capital will also enable the Company to
progress its other exploration assets. The issue closes at 5.00pm on
11 September 2001.Your entitlement to new shares is stated in the accompanying
Entitlement and Application form. Your Directors, who hold
approximately 9.4% of the issued shares of the Company, will be
taking up their entitlement in full.
T N Fern CHAIRMAN
PURPOSE OF THE ISSUE
The main purpose of the Issue is to raise sufficient working capital
to develop the new concept for exploiting the Dinkidi gold, copper
deposit, in order to extract significant value from this investment.
The Issue will also provide working capital for the Company to
progress the Company`s other exploration assets.DINKIDI CONCEPT STUDY
Given the current political and metal price outlook, Climax Mining
has re-examined the whole approach to the mining of Dinkidi and has
determined that a smaller scale staged development is technically
possible. This new approach has numerous advantages; the initial
capital funding requirements are substantially less and, being a
staged development, it is inherently more flexible. It has the added
advantage of the early generation of cash flow to fund development of
later stages of mining development.
The new concept is based on mining the high grade underground
resource, using conventional cut and fill methods, at 300,000 tonnes
per annum ("tpa") over an eight year period together with a small
scale open pit to provide additional ore for treatment. The project
estimates are based on the data from the Company`s previously
completed definitive feasibility study, modified by applying a
cut-off grade of 5 grams per tonne (g/t) gold equivalent as opposed
to the 2 g/t gold equivalent cut-off used for the larger scale block
caving proposal.
Over the projected life of the higher grade operation, an estimated
1.8 million tonnes of underground ore, averaging 8.63g/t gold and
1.28% copper and approximately 600,000 tonnes of open pit ore,
averaging 1.92 g/t gold and 1.60% copper could be mined and treated,
to recover 536,000 ounces of gold and 70 million pounds of copper.
Ore treatment would be by conventional concentration producing gold
as dore by gravity concentration methods and a high grade copper
flotation concentrate containing gold (30% copper and 60 g/t gold).
Estimated average cash operating costs are US$39 per tonne of ore and
estimated capital expenditure to production is in the order of US$33million.
The concept study has been completed to an order of accuracy of
between -15% to +25%. Further review is necessary to validate key
assumptions and to settle the economics of this course of action.
Included in this further work will be an analysis of the oxide zone
and its suitability for gravitational recovery of the contained gold.
When Climax Mining completes evaluation and preliminary design work,
Climax Mining will seek either the introduction of a partner to fund
the development process or other ways to realise value from theasset.
DETAILS OF THE ISSUE
DETAILS OF THE ISSUENON-RENOUNCEABLE ISSUE
The number of Shares on issue at 3 August 2001, being the date of
this Prospectus, was 141,578,994 Shares.
This offer is made as a Non-renounceable issue to Eligible
Shareholders on the basis of one New Share for every Share held. The
issue of up to 141,578,994 Shares at the price of 3 cents will raise
approximately $4.2 million if fully subscribed. The New Shares will
be classed as fully paid ordinary shares.There is no minimum subscription.
RECORD DATEThe Record Date for determining entitlements to the issue is 5pm on
14 August 2001.
UNDERWRITING
This Issue is not underwritten. The Directors reserve the right to
place any shortfall at the issue price or higher within three months
of the close of the Issue.CLOSING DATE
The offer of New Shares may be accepted prior to 5.00 pm on 11
September 2001. The Company reserves the right to extend the ClosingDate.
PAYMENT UPON ACCEPTANCE OF THE OFFER
An application for New Shares must be accompanied by payment in full
at the rate of 3 cents for each New Share applied for.
Cheques or bank drafts must be in Australian currency, drawn on a
bank in Australia and made payable to "Climax Mining Ltd" and crossed
"Not Negotiable".
Cheques should accompany duly completed Entitlement and Application
Forms and be received no later than 5.00pm on 11 September 2001.
Reply paid envelopes are provided for the convenience of applicants.
QUOTATION ON AUSTRALIAN STOCK EXCHANGE
An application for admission of the New Shares to quotation on ASX
will be made to ASX within 7 days after the date of this Prospectus.
Subject to ASX approval, it is usual that ASX quotation for the New
Shares will initially be on a deferred settlement basis and
thereafter the New Shares will be quoted as part of the same class as
the Shares on issue at the date of this Prospectus.RIGHTS ATTACHING TO SHARES
The New Shares to be issued pursuant to this Prospectus are ordinary
shares and will as from their allotment rank equally in all respects
with the Company`s existing ordinary shares.
DIRECTORS` INTENTIONS
The Company has been advised that it is the intention of the
Directors and their associates to take up their full entitlements.
SHORTFALL
The Directors reserve the right to place any shortfall in the New
Shares not taken up by Eligible Shareholders at the issue price of 3
cents or higher and in all other respects on the same terms as the
New Shares offered pursuant to this Prospectus, within three months
of the closing date of the Issue. The Company may pay to licenced
dealers in securities, a fee in respect of amounts raised on
placement of any shortfall of the issue. Directors and their
associates are not permitted to participate in any distribution of
such shortfall.The Company holds commitments, including those of the Directors,
which will ensure subscription to the Issue of at least $1.5 million.
APPLICATION MONEY
All application money received shall be held by the Company in trust
in accordance with the Corporations Act until New Shares are issued
to the applicants. No interest will be paid to Shareholders on money
received. Interest earned on application money will be for the
benefit of the Company irrespective of whether the New Shares areissued.
OVERSEAS SHAREHOLDERS
After consideration of the substantial costs of compliance with the
securities laws of other jurisdictions, the small number of those
shareholders with registered addresses outside Australia and New
Zealand and the small number and value of securities those
shareholders would be offered, the Directors have determined that the
Company will not extend the offer to shareholders with registered
addresses outside Australia and New Zealand.
TAXATION
Eligible Shareholders should consult their accountant, financial
adviser or other professional adviser as to the taxation implications
of acquiring New Shares under this Prospectus and should satisfy
themselves of the particular taxation treatment that applies to them.
EFFECT ON THE COMPANY
The effects of the Issue assuming full subscription will be:
(a) an increase in cash by approximately $4.2 million before paying
the estimated expense of the Issue;
(b) an increase in the number of Shares on issue by 141,578,994Shares; and
(c) to carry out the purpose of the Issue outlined in Section 3 of
this Prospectus.
PRO-FORMA CAPITAL STRUCTURE
Assuming full subscription, the Issue will have the following effect
on the capital structure of Climax Mining.
NO OF SHARES $
At 30 June 2001 141,578,994 38,329,130
Offered by this ProspectusFully paid ordinary shares at
an issue price of 3 cents (1) 141,578,994 4,192,370
Unaudited pro-forma post-issueStatement of Financial Position
Contributed Equity 288,157,988 42,521,500
(1) The above proceeds from the Issue are shown after estimated Issue
costs of $68,000.
PRO-FORMA STATEMENT OF FINANCIAL POSITION
The consolidated unaudited Pro-forma post-Issue Statement of
Financial Position is based on the consolidated 30 June 2001
statement of Financial Position of Climax Mining as contained in the
Annual Financial Report, adjusted to reflect the financial position
of Climax Mining had the rights issue occurred at 30 June 2001 and
was fully subscribed.
Ich habe Kontakt nach Down Under aufgenommen. Sobald ich mehr weiß, melde ich mich wieder hier im Board.
Als Aktienbesitzer wuerde mich das sehr beunruhigen.
Nichts wie raus!!!
Lieber ein Ende mit Schrecken....
MfG
Nichts wie raus!!!
Lieber ein Ende mit Schrecken....
MfG
Daß mich die Announcements der letzten Tage beunruhigt haben, kannst Du daran sehen, daß ich bereits an Climax eine Mail gesandt habe. Besonders die Kapitalerhöhung ohne Beteiligung der ausländischen Aktionäre ist eine starke Benachteiligung und der Shortfall ist für diese Aktien damit automatisch vorprogrammiert. Andererseits kann der Kurs der Altaktien aufgrund des Bezugsrechts auch wieder anziehen. Daher sehe ich nach den großen Kursverlusten, die gerade hinter uns liegen, keinen Grund für einen überstürzten Verkauf. Bisher war meine Strategie die Aktien liegen zu lassen und auf den Anstieg des Goldpreises warten. Ich werde mich jetzt erstmal mit den veränderten Fakten beschäftigen.
Leider bin ich anderer Meinung und glaube das der Kurs sich den 3 cts. annaehert und moeglicherweise noch darunter faellt.
Zumindest ist dies in der Vergangenheit immer so gewesen.
MfG
Zumindest ist dies in der Vergangenheit immer so gewesen.
MfG
Hallo Arhaes,
eigentlich kannst Du gar nicht anderer Meinung sein, da ich nach den Announcements gar keine Bewertung abgegeben habe, sondern nur Fakten und Möglichkeiten genannt habe.
Die Ausgabe von neuen Aktien im Verhältnis 1:1 halbiert den Hebel auf den Goldpreis. Trotzdem ist der Hebel bei einem Goldpreisanstieg immer noch außergewöhnlich hoch, wenn das Großprojekt dann vollständig umgesetzt werden kann. Daß die kurzfristige Kursentwicklung durch eine Kapitalerhöhung meist belastet wird, ist mir bekannt. Das Bezugsrecht im Verhältnis 1:1 ist jedoch außergewöhnlich und gibt den Altaktien einen Bonus - der aber nicht für ausländische Aktionäre gelten soll. Vermutlich dürfte für uns der Verkauf an einen Australier sinnvoll sein, der das Bezugsrecht ausüben kann.
Allerdings halte ich es für sinnvoller, Climax würde das Dinkidi Projekt unter den gegebenen Umständen verkaufen und sich mit den erzielten Erlösen auf die anderen Projekte konzentrieren oder sich einen Partner für Dinkidi zu suchen, anstatt eine Kapitalerhöhung beim jetzigen Kurs anzukündigen. Ich habe in meiner Mail diese Überlegung angesprochen. Mal sehen, was der Vorstand dazu sagt.
Gruß
Big-Apple
eigentlich kannst Du gar nicht anderer Meinung sein, da ich nach den Announcements gar keine Bewertung abgegeben habe, sondern nur Fakten und Möglichkeiten genannt habe.
Die Ausgabe von neuen Aktien im Verhältnis 1:1 halbiert den Hebel auf den Goldpreis. Trotzdem ist der Hebel bei einem Goldpreisanstieg immer noch außergewöhnlich hoch, wenn das Großprojekt dann vollständig umgesetzt werden kann. Daß die kurzfristige Kursentwicklung durch eine Kapitalerhöhung meist belastet wird, ist mir bekannt. Das Bezugsrecht im Verhältnis 1:1 ist jedoch außergewöhnlich und gibt den Altaktien einen Bonus - der aber nicht für ausländische Aktionäre gelten soll. Vermutlich dürfte für uns der Verkauf an einen Australier sinnvoll sein, der das Bezugsrecht ausüben kann.
Allerdings halte ich es für sinnvoller, Climax würde das Dinkidi Projekt unter den gegebenen Umständen verkaufen und sich mit den erzielten Erlösen auf die anderen Projekte konzentrieren oder sich einen Partner für Dinkidi zu suchen, anstatt eine Kapitalerhöhung beim jetzigen Kurs anzukündigen. Ich habe in meiner Mail diese Überlegung angesprochen. Mal sehen, was der Vorstand dazu sagt.
Gruß
Big-Apple
Kurs geht unter 3 AussieCent und die Aktie und Euer Geld
den Bach runter.Das merkt doch ein blindes Huhn.
Stellt 1 Mio Stück mit 2.6 Aussie cent rein, und ihr werdet sicher erfüllt. Wetten !
Dann sitzt ihr auf der Scheiße, und könnt 1 Jahr warten bis die Aktie wieder bei 4 cent steht; oder sie ist überhaupt pleite
den Bach runter.Das merkt doch ein blindes Huhn.
Stellt 1 Mio Stück mit 2.6 Aussie cent rein, und ihr werdet sicher erfüllt. Wetten !
Dann sitzt ihr auf der Scheiße, und könnt 1 Jahr warten bis die Aktie wieder bei 4 cent steht; oder sie ist überhaupt pleite
An Big Apple
Kannst Du nicht nach Australien schreiben, dass
das Bezugsrecht auch für Ausländer gelten soll.
Ich mache hier mit.
Der Goldpreis wird jetzt stärker ansteigen und
das philipp. Projekt wird ein Renner.
FErner schaut Euch mal WKN 761953 an.
Zu 10 cents kaufen und morgen bei 40 bis 50 cents
abstossen.
Heute schon 230 % +.
Kannst Du nicht nach Australien schreiben, dass
das Bezugsrecht auch für Ausländer gelten soll.
Ich mache hier mit.
Der Goldpreis wird jetzt stärker ansteigen und
das philipp. Projekt wird ein Renner.
FErner schaut Euch mal WKN 761953 an.
Zu 10 cents kaufen und morgen bei 40 bis 50 cents
abstossen.
Heute schon 230 % +.
Natürlich habe ich unser Mißfallen über den Ausschluß der ausländischen Aktionäre bei der Ausübung des Bezugsrechtes bereits kritisiert. Ebenfalls habe ich nachgefragt, warum jetzt eine Kapitalerhöhung durchgeführt wird, anstatt einen Partner für das Projekt zu suchen bzw. das Dinkidi Projekt zu verkaufen und mit dem Erlös sich auf die anderen Projekte zu konzentrieren.
Mittlerweile habe ich mich auch durch die Jahresbilanz gearbeitet (Preliminary Final Report):
1.23 Profit (loss) from ordinary activities
after tax, attributable to members (56,278)
4.1 Cash 1,362
4.17 Total assets 26,060
4.28 TOTAL LIABILITIES 3,170
4.29 NET ASSETS 22,890
5.3 Expenditure written off during current period (51,047)
7.24 NET INCREASE (DECREASE) IN CASH HELD (5,531)
18.3 Ordinary securities 141,578,994
The Company announced on 03/08/2001 a one for one non renounceable rights issue at 3 cents per share. A fully subscribed rights issue would raise $4.2 million, net of issue costs. The Company holds commitments, including those of the directors, to subscribe for shares to raise at least $1.5 million form the issue.
Der Verlust von 56,278 Mio. A$ beruht zum Großteil auf Abschreibungen in Höhe von 51,047 Mio. A$. Der Cashbestand reduzierte sich um 5,531 Mio. A$ auf jetzt 1,362 Mio. A$.
Das Bruttovermögen beträgt 26,060 Mio. A$. Abzüglich der Verbindlichkeiten von 3,170 Mio. A$ ergibt sich ein Nettovermögen von 22,890 Mio A$.
Es sind zur Zeit knapp 142 Mio. Aktien ausgegeben. Bei einem Kurs von 0,04 A$ errechnet sich eine Marktkapitalisierung von ca. 5,7 Mio. A$ (5,7 : 22,89). -> Kurs-Buchwert-Verhältnis = 0,2
Mit der Kapitalerhöhungen sollen 4,2 Mio. A$ eingenommen werden; für 1,5 Mio. A$ liegen bereits Zusagen vor. Nach einer erfolgreichen Durchführung der Kapitalerhöhung würde das Nettovermögen um 4,2 Mio. A$ auf 27,090 A$ steigen. Die Aktienzahl würde sich auf 281 Mio. erhöhen und die Marktkapitalisierung würde bei einem unveränderten Kurs 11,24 Mio. A$ betragen (11,24 : 27,09). -> Kurs-Buchwert-Verhältnis = 0,4
Sofern die Bewertung des Nettovermögens nach den erheblichen Abschreibungen korrekt ist, ist Climax substanziel deutlich unterbewertet. Aufgrund des geringen augenblicklichen Cashbestandes ist eine Fortführung der Geschäfte allerdings nicht möglich. Entweder wird die Kapitalerhöhung erfolgreich verlaufen - Zusagen über 1,5 Mio. A$ liegen bereits vor - oder die Firma ist ein interessanter Beteiligungs- oder Übernahmekandidat. Alternativ wäre ein Ruhen der operativen Tätigkeit bis zu einem nachhaltigen Anstieg des Goldpreises denkbar. Mit dem jetzigen Cashbestand von 1,36 Mio A$ und den zugesagten 1,5 Mio A$ aus der Kapitalerhöhung wären die Verbindlichkeiten von 3,17 Mio A$ nahezu vollständig zu begleichen.
http://www.stockhouse.com.au/comp_info.asp?symbol=CMX&table=…
Mittlerweile habe ich mich auch durch die Jahresbilanz gearbeitet (Preliminary Final Report):
1.23 Profit (loss) from ordinary activities
after tax, attributable to members (56,278)
4.1 Cash 1,362
4.17 Total assets 26,060
4.28 TOTAL LIABILITIES 3,170
4.29 NET ASSETS 22,890
5.3 Expenditure written off during current period (51,047)
7.24 NET INCREASE (DECREASE) IN CASH HELD (5,531)
18.3 Ordinary securities 141,578,994
The Company announced on 03/08/2001 a one for one non renounceable rights issue at 3 cents per share. A fully subscribed rights issue would raise $4.2 million, net of issue costs. The Company holds commitments, including those of the directors, to subscribe for shares to raise at least $1.5 million form the issue.
Der Verlust von 56,278 Mio. A$ beruht zum Großteil auf Abschreibungen in Höhe von 51,047 Mio. A$. Der Cashbestand reduzierte sich um 5,531 Mio. A$ auf jetzt 1,362 Mio. A$.
Das Bruttovermögen beträgt 26,060 Mio. A$. Abzüglich der Verbindlichkeiten von 3,170 Mio. A$ ergibt sich ein Nettovermögen von 22,890 Mio A$.
Es sind zur Zeit knapp 142 Mio. Aktien ausgegeben. Bei einem Kurs von 0,04 A$ errechnet sich eine Marktkapitalisierung von ca. 5,7 Mio. A$ (5,7 : 22,89). -> Kurs-Buchwert-Verhältnis = 0,2
Mit der Kapitalerhöhungen sollen 4,2 Mio. A$ eingenommen werden; für 1,5 Mio. A$ liegen bereits Zusagen vor. Nach einer erfolgreichen Durchführung der Kapitalerhöhung würde das Nettovermögen um 4,2 Mio. A$ auf 27,090 A$ steigen. Die Aktienzahl würde sich auf 281 Mio. erhöhen und die Marktkapitalisierung würde bei einem unveränderten Kurs 11,24 Mio. A$ betragen (11,24 : 27,09). -> Kurs-Buchwert-Verhältnis = 0,4
Sofern die Bewertung des Nettovermögens nach den erheblichen Abschreibungen korrekt ist, ist Climax substanziel deutlich unterbewertet. Aufgrund des geringen augenblicklichen Cashbestandes ist eine Fortführung der Geschäfte allerdings nicht möglich. Entweder wird die Kapitalerhöhung erfolgreich verlaufen - Zusagen über 1,5 Mio. A$ liegen bereits vor - oder die Firma ist ein interessanter Beteiligungs- oder Übernahmekandidat. Alternativ wäre ein Ruhen der operativen Tätigkeit bis zu einem nachhaltigen Anstieg des Goldpreises denkbar. Mit dem jetzigen Cashbestand von 1,36 Mio A$ und den zugesagten 1,5 Mio A$ aus der Kapitalerhöhung wären die Verbindlichkeiten von 3,17 Mio A$ nahezu vollständig zu begleichen.
http://www.stockhouse.com.au/comp_info.asp?symbol=CMX&table=…
@ Big-Apple: bei Explorern darfst du nie so rechnen,dann bist du dein Geld
mit Sicherheit los.
Versucht mal über eure Broker shortfall aus der Kapitalerhöhung zu bekommen.
Kriegt ihr jede Menge dann Fingerweg.
Ansonsten als Option mit Laufzeit bis zur nächsten KE bertachten.
cu DL
mit Sicherheit los.
Versucht mal über eure Broker shortfall aus der Kapitalerhöhung zu bekommen.
Kriegt ihr jede Menge dann Fingerweg.
Ansonsten als Option mit Laufzeit bis zur nächsten KE bertachten.
cu DL
Da der Vorstand nicht auf meine Mail reagiert hat, habe ich mich von den Aktien getrennt. Es besteht bei einem Anstieg des Goldpreises zwar ein großes Potential, wenn das Dinkidi Projekt realisiert werden kann, aber das Durchboxen der Kapitalerhöhung zu 0,03 A$ im Verhältnis 1:1 unter Ausschluß der ausländischen Aktionäre ist nicht akzeptabel. Im so vorprogrammierten Shortfall werden Spekulanten aus dem Shortfall kaufen und vermutlich im Falle eines Kursanstieges bald Gewinne mitnehmen. Unter dem Strich ist das fundamentale Risiko gleich geblieben, die Chance hat sich aber deutlich verringert. Es gibt bessere Firmen in Australien - welche, die Anfragen umgehend beantworten und bewiesen haben, daß sie wirtschaftlich kontinuierlich auf dem richtigen Weg sind.
Allen Investierten wünsche ich viel Glück. Falls der Goldpreis plötzlich nach oben ausbrechen sollte, habe ich falsch gelegen ...
Allen Investierten wünsche ich viel Glück. Falls der Goldpreis plötzlich nach oben ausbrechen sollte, habe ich falsch gelegen ...
@Big-Apple
Wie kommst Du eigentlich auf diesen Schwachsinn, daß nur die
auslänischen Aktionäre die Aktie bezihen können ?
Ich habe gerade bei meiner Bank (Raiffeisenbank) die
CLIMAX für 0,03 gemäß meines Climax-Bestandes geordert (!!!).
Problemlos !!
GO
Wie kommst Du eigentlich auf diesen Schwachsinn, daß nur die
auslänischen Aktionäre die Aktie bezihen können ?
Ich habe gerade bei meiner Bank (Raiffeisenbank) die
CLIMAX für 0,03 gemäß meines Climax-Bestandes geordert (!!!).
Problemlos !!
GO
Hallo Goldonly,
ich habe nie behauptet, daß nur die ausländischen Aktionäre die neuen Aktien beziehen können, sondern genau das Gegenteil war dem Announcement zu entnehmen:
OVERSEAS SHAREHOLDERS
After consideration of the substantial costs of compliance with the securities laws of other jurisdictions, the small number of those shareholders with registered addresses outside Australia and New Zealand and the small number and value of securities those shareholders would be offered, the Directors have determined that the Company will not extend the offer to shareholders with registered addresses outside Australia and New Zealand.
Warum der Vorstand meine Nachfrage vom 06.08.01 an [email]gfulch@climaxmining.com.au[/email] diesbezüglich nicht beantwortet hat, ist mir schleierhaft. Nun braucht er nicht mehr zu antworten. Der Brief von der Bank ist eben eingetroffen, aber das Thema ist für mich nicht mehr relevant.
Dir wünsche ich viel Glück - bei einem dauerhaften Anstieg des Goldpreises wird Climax gut performen.
Gruß
Big-Apple
ich habe nie behauptet, daß nur die ausländischen Aktionäre die neuen Aktien beziehen können, sondern genau das Gegenteil war dem Announcement zu entnehmen:
OVERSEAS SHAREHOLDERS
After consideration of the substantial costs of compliance with the securities laws of other jurisdictions, the small number of those shareholders with registered addresses outside Australia and New Zealand and the small number and value of securities those shareholders would be offered, the Directors have determined that the Company will not extend the offer to shareholders with registered addresses outside Australia and New Zealand.
Warum der Vorstand meine Nachfrage vom 06.08.01 an [email]gfulch@climaxmining.com.au[/email] diesbezüglich nicht beantwortet hat, ist mir schleierhaft. Nun braucht er nicht mehr zu antworten. Der Brief von der Bank ist eben eingetroffen, aber das Thema ist für mich nicht mehr relevant.
Dir wünsche ich viel Glück - bei einem dauerhaften Anstieg des Goldpreises wird Climax gut performen.
Gruß
Big-Apple
@APPLE
Daß der Vorstand nicht auf nicht auf Dein Mail reagiert
hat, ist als gutes Zeichen zu werten !!!!!
Bei Kostolany findet sich eine nette ähnliche Geschichte
mit einer Telefongesellschaft.
Die hatte allerdings reagiert, worauf K. die Aktien sofort
verkaufte.
Ansosnten ... Tschüss
XAU
Daß der Vorstand nicht auf nicht auf Dein Mail reagiert
hat, ist als gutes Zeichen zu werten !!!!!
Bei Kostolany findet sich eine nette ähnliche Geschichte
mit einer Telefongesellschaft.
Die hatte allerdings reagiert, worauf K. die Aktien sofort
verkaufte.
Ansosnten ... Tschüss
XAU
Erst per Announcement zu verkünden, daß für ausländische Aktionäre das Angebot nicht gelten soll, dann auf Nachfragen nicht zu reagieren und schließlich sich so zu verhalten, als ob es den bewußten Satz im Announcement gar nicht gegeben hat, ist dubios.
@Big-Apple
Diese Story, daß das Angebot nicht für Ausländer gelten
soll, habe ich auch schon bei anderen Aktien gehört.
War auch da natürlich Quatsch !!
Naja, hast wieder mal was dazugelernt ...
Andererseits. Wahrscheinlich fällt CLIMAX jetzt erst mal
und am Ende bist Du froh !!
Gruß
GO
Diese Story, daß das Angebot nicht für Ausländer gelten
soll, habe ich auch schon bei anderen Aktien gehört.
War auch da natürlich Quatsch !!
Naja, hast wieder mal was dazugelernt ...
Andererseits. Wahrscheinlich fällt CLIMAX jetzt erst mal
und am Ende bist Du froh !!
Gruß
GO
Nono,hast du deine Aktien in Sammelverwahrung wie bei ANZ bist du kein Ausländer!!!
Hast du die Dingerwie ich in chess holding, bist du Ausländer,weil der Gesellschaft namentlich bekannt.
Hoffe geholfen zu heben.
cu DL
Trotzdem ist CMX Scheisse ,weil wegen ein Bisschen schnellem Gold=Geld das Projekt kaputtgemacht wird
Hast du die Dingerwie ich in chess holding, bist du Ausländer,weil der Gesellschaft namentlich bekannt.
Hoffe geholfen zu heben.
cu DL
Trotzdem ist CMX Scheisse ,weil wegen ein Bisschen schnellem Gold=Geld das Projekt kaputtgemacht wird
Danke DL!
Jetzt weiß ich, wie der Passus mit den Ausländern gemeint war. Aber da blicken wohl die Wenigsten durch.
Was bedeutet nun "Chess Holding" und wie kommen Aktien zu diesem Status? Ich kenne nur Aktien, die entweder für den australischen Handel zugelassen sind, oder welche, die für den deutschen Handel zugelassen sind - im Falle eines hiesigen Zweitlistings.
Gruß
Big-Apple
Jetzt weiß ich, wie der Passus mit den Ausländern gemeint war. Aber da blicken wohl die Wenigsten durch.
Was bedeutet nun "Chess Holding" und wie kommen Aktien zu diesem Status? Ich kenne nur Aktien, die entweder für den australischen Handel zugelassen sind, oder welche, die für den deutschen Handel zugelassen sind - im Falle eines hiesigen Zweitlistings.
Gruß
Big-Apple
Beitrag zu dieser Diskussion schreiben
Zu dieser Diskussion können keine Beiträge mehr verfasst werden, da der letzte Beitrag vor mehr als zwei Jahren verfasst wurde und die Diskussion daraufhin archiviert wurde.
Bitte wenden Sie sich an feedback@wallstreet-online.de und erfragen Sie die Reaktivierung der Diskussion oder starten Sie eine neue Diskussion.
Meistdiskutiert
Wertpapier | Beiträge | |
---|---|---|
111 | ||
69 | ||
45 | ||
40 | ||
39 | ||
38 | ||
37 | ||
36 | ||
35 | ||
33 |
Wertpapier | Beiträge | |
---|---|---|
32 | ||
31 | ||
30 | ||
30 | ||
29 | ||
29 | ||
28 | ||
27 | ||
27 | ||
23 |