Abterra   

Any comment for ABTERRA?

Ya loh, but this one should perform well. Maybe jus have to be patience abit with it. Cheers

freeme      ( Date: 09-Oct-2009 17:37) Posted: Once buy up kana sell down again.. hard to move keepnosecrets      ( Date: 09-Oct-2009 09:29) Posted: I might be wrong, but judging from the queue over the past couple of weeks, you need only $3 million to buy the sellers up.  After that it will be ok for this counter.  Currently just some poorly financed bugger offloading probably due to financial constrains

 

This one will only go up when all the present holders have dumped it...

and then picked up other more profitable active counters... 

 

Once buy up kana sell down again..

hard to move

keepnosecrets      ( Date: 09-Oct-2009 09:29) Posted: I might be wrong, but judging from the queue over the past couple of weeks, you need only $3 million to buy the sellers up.  After that it will be ok for this counter.  Currently just some poorly financed bugger offloading probably due to financial constrains. Zelphon      ( Date: 08-Oct-2009 15:50) Posted: BB been keeping this counter in the 0.045 to 0.055 range for a long time liaooo. When are they going to let it fly ???

 

 Citi bullish on 2010 iron ore demand and price — Citi forecasts global steel
production up 9% following a sharp -12% in 2009, driven by China's +7%,
Europe's +17% and JP/KR's +9%. Seaborne iron ore demand may rise 6% and
drive up contract prices by 15%. Our 2010E BDI is 2674 or flat with 2009E, by
assuming vessel delivery/ scrapping to be self correction to demand recovery.

 

I might be wrong, but judging from the queue over the past couple of weeks, you need only $3 million to buy the sellers up.  After that it will be ok for this counter.  Currently just some poorly financed bugger offloading probably due to financial constrains.

Zelphon      ( Date: 08-Oct-2009 15:50) Posted: BB been keeping this counter in the 0.045 to 0.055 range for a long time liaooo. When are they going to let it fly ???

 

hope this will cheong tmrw

 

From what i see its going down trend. Slowly at the same time pretending there is demand in the market and slowly dump its shares out to the public.

Q3 Results will be the catalyst. Good luck

risktaker      ( Date: 30-Sep-2009 11:04) Posted: You ask yourself is Q3 report gonna be good or bad. China Ore business is really really tough. Abterra have over stretched themselves, seeking loans to buy mines...... We need hard evidences that Abterra can really come out of this shit thats why Q3 report is very very important. Good luck. Sucess Rate - 25% (Based on the environment they are in) risktaker      ( Date: 08-Sep-2009 22:07) Posted: 2 months ago Abterra has no mines. Due to the legislation in china, the smaller mine will not allow to be operate. Therefore it give Abterra opportunity to buy these mines. Strait Asia is pretty established. If Strait Asia is given a rating of 8/10. Abterra is somewhere 2/10.  Abterra has a chance to grow and established as China now tighten imports of Iron Ore from overseas. However Iron Ore market in China is pretty much over supplied at the moment with loads of Iron Ore sitting at the dock. Further worsen the outlook is the local competitive level is extremely high with new deposit being discovered not to forget they recently open up more mines in the inner Mongolia region. There are many challenges Abterra have to overcome at this moment. Its either small and die off or Big and win for Abterra, they have to be big "which is what they are doing now". Buying up Mines/Mine Operations and massaging relationship with the Top officials in China so they can get funds, approval of acquisition, license and many more. Therefore, If they make it you can make at least 20-40 times as of current value, but you could lose everything if they fail.

 

BB been keeping this counter in the 0.045 to 0.055 range for a long time liaooo.

When are they going to let it fly ??? 

 

these all old news

Flyordie      ( Date: 07-Oct-2009 14:51) Posted: Insight Sep-09, Co's subsi PT Abterra Resources Indonesia entered into a sales and purchase agmt to acq an iron ore op in Southern and South-Eastern Kalimantan for US$7.3m. Aug-09, Co is contemplating the possibility of seeking a dual primary listing of its ordinary shares on the main board of The Stock Exchange of HK. Co entered into an agmt to acq 30%-stake in Shanxi Lingshi Fuyuan Coal Co (Fuyuan) for Rmb234.8m. Fuyuan owns a coking mine with reserves of 33.36 tonnes of coking coal. Jul-09, Co is likely to benefit from rising coking coal prices according to a Reuters article dated 28 Jun-09 that reported PRC's steel pdtn is soaring way over estimates and the country has paid for a shipment of coking coal at a price higher than the benchmark price.1H09 earnings dropped significantly due to lower sales and other expenses. Together with China's long term plans to boost infrastructural facilities within China, Co expects its overall operating environment to improve in the foreseeable future. (02/09/09-DC)

 

 

Q3 is not released until unknown time.. i called abterra... fake Q3 news..

henrykay      ( Date: 07-Oct-2009 11:24) Posted: Any news on the 3Q result? seems like no news after the expected date of 05 Oct 2009

 

Looking desperate I must say. When Media is spreading all over regarding this abterra :) They are trying very hard and it wont move :) Why ? You should know it by now

 

Any news on the 3Q result? seems like no news after the expected date of 05 Oct 2009

 

http://www.nextinsight.com.sg/content/view/1555/60/

read here, got belly belly nice picture also.

 

Wow law......too many words....i'm flooded...hehe

 

lawcheemeng      ( Date: 05-Oct-2009 21:42) Posted: something interesting...ABTERRA: From trader to mine owner Print E-mail Written by Andrew van Buren (in Shanxi, China) Sunday, 04 October 2009 Image Coking coal mine in the Shanxi province. Photo by Andrew van Buren OUR RIDE FROM the 3.5 million-strong city of Taiyuan in northern China’s Shanxi province – the country’s biggest coal-mining re­gion – to Abterra’s newly-acquired coking coal mine some two hours away was a pic­turesque odyssey. We rode on smooth byways past cornfields and stone-homed villages, up serpentine routes which were not even in existence a few short years ago. They were made possible by the massive wealth and employment opportunities that chased the recent commodities boom in China, backed in large part by the country’s rise to No 1 global steel producer status. This writer savoured the opportu­nity provided by Abterra, one of only a handful of mining companies listed on the Singapore bourse, to visit its coking coal mines. It was my first visit to such a place – the very heart of the commodities boom which, if you believe the predictions of commodities guru Jim Rogers, will be around for a long time. What are Singapore-listed Abterra’s prospects now that it has ventured into owning stakes in coking coal mines? And how much will it reap from China’s ag­gressive infrastructure expansion? Until recently, Abterra was a trader of commod­ities: it imported iron ore into China from Australia, India and Indonesia and sold it to steel mills. It also imported coking coal and exported metallurgical coke. In a major move to transform itself, Abterra recently signalled its ambition to expand upstream and become a mine owner and operator. In May, it paid 188 million yuan (S$39.5 million) for a 49 per cent stake in Shanxi Taixing Jiao Zhong Coal Indus­try Co, which delivers coking coal for the production of steel. This writer visited this mine as well as Zuoquan Yongxing Coal Company (also in Shanxi), in which Abter­ra acquired a 15 per cent stake for 45.75 million yuan in 2007. As the Jiao Zhong mine will be ac­counted for as a subsidiary, the Abterra management is excited about its im­pending boost to group revenues, espe­cially when approval is obtained to raise annual production capacity six-fold to 900,000 tonnes. The surge in production will enable Abterra, which recently sported a mar­ket capitalisation of around S$330 mil­lion based on its stock price of 6.5 cents, to ride the long-term uptrend of China’s steel-making sector. More immediately, the country’s massive 4.5 trillion yuan economic stimulus package, part of which will fund the steel-hungry infrastructure and industrial mega-projects, is a boon. As a coking coal-miner, coke proces­sor and iron ore firm with mining and lo­gistical operations in China, Abterra has its fortunes tied to the performance of China’s steel industry, as coking coal and iron ore are the chief raw material inputs used in making steel. All S$65.8 million of its revenue in the first quarter of this year came from trading commodities. But its revenue composition will look very different when its new cok­ing coal and iron ore mines start to make contributions. Abterra stands to benefit from its links with its parent company, General Nice Group, which now owns 40 per cent of Abterra after a buyout in October 2006. Image Jaffe Lau, CEO, Abterra. Photo by Sim Kih Some background on the General Nice Group: It is one of China’s largest produc­ers of metallurgical coke, a product pro­cessed from coking coal and used in the production of steel. In 2008, the total as­sets of General Nice Group reached HK$7 billion (S$1.3 billion) and revenue stood at more than HK$8.8 billion. Aside from Abterra, General Nice Group has another subsidiary – Loudong General Nice Re­sources (China) Holdings – which is listed in Hong Kong. Explaining the significance of Ab­terra’s Jiao Zhong stake, Jaffe Lau, CEO of both Abterra and General Nice, said: “Jiao Zhong complements our trading business very well. We are not only able to secure a steady supply of high-quality semi-hard coking coal which sells at a premium compared to thermal coal, this acquisition has also provided us with a platform to participate in the booming PRC resources industry.” Jiao Zhong will begin making contribu­tions to Abterra later this year but Abterra will reap the full benefits in 2011 after it finishes upgrading the facilities, added Mr Lau. That Abterra was able to purchase the Jiao Zhong stake was unusual as Chinese coal mines are tightly governed as national assets. Adding sizzle to its coup, Abterra, whose stock sometimes is traded heavily on the Singapore Exchange, clinched a whopper of a bargain. Just consider that at the time the Abter­ra-Jiao Zhong deal was closed, Singapore-listed Noble Group was offering A$447.7 million (2.498 billion yuan or S$538.3 million) for a 78.3 per cent stake in Glouc­ester Coal, which has 38 million tonnes of coal reserves. Abterra, in comparison, paid 188 million yuan for a 49 per cent stake in a company with access to 50.3 million tonnes of coal. The latter reserves were confirmed only recently – and certainly they are a sharp increase from the 10 million tonnes that were documented when the deal was inked two years ago. Yang Guangling, general manager of the Taixing Jiao Zhong mine, said he was upbeat on the sector, and on the sustain­ability of selling prices going forward. “In 2007, when we announced plans to buy this mine, not including tax, selling prices for raw coking coal were 270 yuan a tonne. Now it’s 800. I don’t think it will return to 2007 levels again anytime soon. And as further proof of strong demand, remember that nation-wide, coking coal capacity is at an average utilisation rate of 80 per cent.” Abterra plans to continue making stra­tegic acquisitions of coking coal mines to grow its production capacity to five mil­lion tonnes per year over the next two to three years, from the current 1.05 million tonne capacity of its two mines. In Shanxi province, where General Nice has business connections since 1992 and is its first foreign investor, Abterra is authorised to operate the mine and will have a larger piece of the action following mass closures of non-compliant mines. Image Scene from Shanxi's mining operations. Photo by Andrew van Buren As part of a stepped-up effort to streamline and strengthen the industry in the run-up to China’s 60th anniver­sary on Oct 1, the Shanxi government will tighten its clampdown on small coal mines to restrain supply and, more im­portantly, to avoid mine accidents ahead of the all-important National Day. Partly due to the forced coal-mine closures – a campaign that has seen 2,690 operators in the province shrink to just 1,000 – coking coal prices have rebound­ed some 33 per cent from recent lows, versus a 10 per cent recovery in thermal coal prices. Abterra’s coal operations are in coking coal, primarily destined for domestic steel mills, and it does not engage in thermal coal mining, used mainly in power plants. This is just fine with Abterra, as domes­tic coking coal shortages – chased by steel consumption growth – have meant thatChina has been a net coking coal importer since 2004, but it is still a net thermal coal exporter. “Shanxi is very strict. If the govern­ment catches you mining here without a licence, your power is summarily cut. The provincial government is also crack­ing down on illegal iron ore mines,” said Mr Yang. He said government regulators even use helicopters to ensure compliance in some of the rugged terrain here. “As the industry consolidates, it will become more profitable, efficient and safer. We will boost capacity to 900,000 tonnes per annum (tpa) from around 150,000 now at our Jiao Zhong mine. To do this, we will need around 300 million yuan in­vestment,” he said, adding that the capac­ity uptick will take around one-and-a-half years to accomplish. Mr Yang said his company benefits from a healthy relationship with the pro­vincial government. “The government only wants licensed mines to operate as they are safer and contribute to fiscal revenue in the region. Also, we have had a stellar safety record since we bought the stake in Jiao Zhong in May,” he said. He added that Abterra was “highly au­tomated”, which meant fewer miners un­derground at any one time and less margin for human error. “We are mechanising, so short-term costs will increase with equip­ment purchases and power usage.” And although the mine was currently below the stated minimum 300,000 tpa capacity, Abterra’s aggressive plan to boost capacity to around 900,000 tonnes in 18 months was allowing its operations there to proceed unhindered by bureaucrats. Mr Yang added: “After 2006, the province received more pow­er to crack down on illegal mines, and the authorities put a lot of effort into the campaign. Therefore, most mines in Shanxi are now in compliance with regulations and are more law-abiding. So now the government is targeting those that failed to get official licences or ap­proval as many illegal mines nowadays don’t have safety equipment, and don’t pay required government taxes.” Abterra was also keeping its eye on coking coal margins and selling prices, both of which have been rebounding of late – backed in large part by the more upbeat outlook on China’s steel sector. “Our production costs including tax here are 200-300 yuan per tonne, with selling prices ranging over the past year from 700 to 1,500 yuan per tonne. Pro­duction costs will remain rather constant, and include electricity, raw materials, and labour costs. Wages are the most stable and won’t shift noticeably this year.” He said that Abterra’s biggest buyer of coking coal – raw and washed – was nearby Shanxi Antai Group Holding Co. “One tonne of raw coking coal can be­come 0.55-0.6 tonne of refined/washed coal, which currently sells for around 1,300 yuan per tonne.” The second day was highlighted by a visit to a mine producing another important commodity for China – iron ore. Another long and winding trip up switchback roads culminated in a stop at Abterra’s 22.8 per cent-held Zuoquan Xinrui Iron Ore Mine (to be acquired by year-end). This acquisition is another example of Abterra’s move into more commodities as well as shifting up the supply chain to raw mining operations, in addition to its traditional focus on the supply and trad­ing of various commodities. The Xinrui mine, ranked No 3 in Shanxi province by size, has an annual produc­tion capacity of between 400,000 and 1.5 million tpa with total estimated re­serves of some 37.9 million tonnes. Assuming steady output, this means Abterra will be busy sup­plying Xinrui iron ore to steel mills for nearly three decades! Abterra said it still has a remaining payment of 160 million yuan plus op­tions remaining to finalise the Xinrui ac­quisition. Combined with the ongoing mas­sive economic stimulus which is boost­ing activity in steel-hungry infrastructure projects across China, iron ore – even relatively low-iron-content domestic ore – will continue to command high prices from domestic steel mills. With strong demand for steel, Ab­terra’s prospects look optimistic, which may be why Hong Kong-listed LeRoi Holdings recently entered into an agree­ment to accept shares of Abterra at a far higher valuation (255 million shares at 12.3 cents apiece, or twice the market price), in a swap that saw Abterra re­ceive 385 million shares of LeRoi Hold­ings at 43.5 Hong Kong cents apiece, the market price. Now with a 5 per cent stake in each other, the two companies will explore investment opportunities together in the coking coal, coke and iron-ore mining industry. LeRoi has identified resource projects in the region, which Abterra is keen to participate in. UBS Investment Research recently raised its forecast for China’s crude steel output by 17 per cent to 530 million tonnes this year. This flurry of activity at Chinese mills is hardly the behaviour of an economy practising austerity, or one lacking the confidence to seek aggressive growth and expansion – all qualities that Abterra is counting on to ensure good results going forward. This story was published recently in Pulses magazine, and is reproduced here with permission. Recent story: Insider buying: GUOCOLEISURE, HONGWEI, ABTERRA Related Items

 

something interesting...ABTERRA: From trader to mine owner Print E-mail Written by Andrew van Buren (in Shanxi, China) Sunday, 04 October 2009 Image Coking coal mine in the Shanxi province. Photo by Andrew van Buren OUR RIDE FROM the 3.5 million-strong city of Taiyuan in northern China’s Shanxi province – the country’s biggest coal-mining re­gion – to Abterra’s newly-acquired coking coal mine some two hours away was a pic­turesque odyssey. We rode on smooth byways past cornfields and stone-homed villages, up serpentine routes which were not even in existence a few short years ago. They were made possible by the massive wealth and employment opportunities that chased the recent commodities boom in China, backed in large part by the country’s rise to No 1 global steel producer status. This writer savoured the opportu­nity provided by Abterra, one of only a handful of mining companies listed on the Singapore bourse, to visit its coking coal mines. It was my first visit to such a place – the very heart of the commodities boom which, if you believe the predictions of commodities guru Jim Rogers, will be around for a long time. What are Singapore-listed Abterra’s prospects now that it has ventured into owning stakes in coking coal mines? And how much will it reap from China’s ag­gressive infrastructure expansion? Until recently, Abterra was a trader of commod­ities: it imported iron ore into China from Australia, India and Indonesia and sold it to steel mills. It also imported coking coal and exported metallurgical coke. In a major move to transform itself, Abterra recently signalled its ambition to expand upstream and become a mine owner and operator. In May, it paid 188 million yuan (S$39.5 million) for a 49 per cent stake in Shanxi Taixing Jiao Zhong Coal Indus­try Co, which delivers coking coal for the production of steel. This writer visited this mine as well as Zuoquan Yongxing Coal Company (also in Shanxi), in which Abter­ra acquired a 15 per cent stake for 45.75 million yuan in 2007. As the Jiao Zhong mine will be ac­counted for as a subsidiary, the Abterra management is excited about its im­pending boost to group revenues, espe­cially when approval is obtained to raise annual production capacity six-fold to 900,000 tonnes. The surge in production will enable Abterra, which recently sported a mar­ket capitalisation of around S$330 mil­lion based on its stock price of 6.5 cents, to ride the long-term uptrend of China’s steel-making sector. More immediately, the country’s massive 4.5 trillion yuan economic stimulus package, part of which will fund the steel-hungry infrastructure and industrial mega-projects, is a boon. As a coking coal-miner, coke proces­sor and iron ore firm with mining and lo­gistical operations in China, Abterra has its fortunes tied to the performance of China’s steel industry, as coking coal and iron ore are the chief raw material inputs used in making steel. All S$65.8 million of its revenue in the first quarter of this year came from trading commodities. But its revenue composition will look very different when its new cok­ing coal and iron ore mines start to make contributions. Abterra stands to benefit from its links with its parent company, General Nice Group, which now owns 40 per cent of Abterra after a buyout in October 2006. Image Jaffe Lau, CEO, Abterra. Photo by Sim Kih Some background on the General Nice Group: It is one of China’s largest produc­ers of metallurgical coke, a product pro­cessed from coking coal and used in the production of steel. In 2008, the total as­sets of General Nice Group reached HK$7 billion (S$1.3 billion) and revenue stood at more than HK$8.8 billion. Aside from Abterra, General Nice Group has another subsidiary – Loudong General Nice Re­sources (China) Holdings – which is listed in Hong Kong. Explaining the significance of Ab­terra’s Jiao Zhong stake, Jaffe Lau, CEO of both Abterra and General Nice, said: “Jiao Zhong complements our trading business very well. We are not only able to secure a steady supply of high-quality semi-hard coking coal which sells at a premium compared to thermal coal, this acquisition has also provided us with a platform to participate in the booming PRC resources industry.” Jiao Zhong will begin making contribu­tions to Abterra later this year but Abterra will reap the full benefits in 2011 after it finishes upgrading the facilities, added Mr Lau. That Abterra was able to purchase the Jiao Zhong stake was unusual as Chinese coal mines are tightly governed as national assets. Adding sizzle to its coup, Abterra, whose stock sometimes is traded heavily on the Singapore Exchange, clinched a whopper of a bargain. Just consider that at the time the Abter­ra-Jiao Zhong deal was closed, Singapore-listed Noble Group was offering A$447.7 million (2.498 billion yuan or S$538.3 million) for a 78.3 per cent stake in Glouc­ester Coal, which has 38 million tonnes of coal reserves. Abterra, in comparison, paid 188 million yuan for a 49 per cent stake in a company with access to 50.3 million tonnes of coal. The latter reserves were confirmed only recently – and certainly they are a sharp increase from the 10 million tonnes that were documented when the deal was inked two years ago. Yang Guangling, general manager of the Taixing Jiao Zhong mine, said he was upbeat on the sector, and on the sustain­ability of selling prices going forward. “In 2007, when we announced plans to buy this mine, not including tax, selling prices for raw coking coal were 270 yuan a tonne. Now it’s 800. I don’t think it will return to 2007 levels again anytime soon. And as further proof of strong demand, remember that nation-wide, coking coal capacity is at an average utilisation rate of 80 per cent.” Abterra plans to continue making stra­tegic acquisitions of coking coal mines to grow its production capacity to five mil­lion tonnes per year over the next two to three years, from the current 1.05 million tonne capacity of its two mines. In Shanxi province, where General Nice has business connections since 1992 and is its first foreign investor, Abterra is authorised to operate the mine and will have a larger piece of the action following mass closures of non-compliant mines. Image Scene from Shanxi's mining operations. Photo by Andrew van Buren As part of a stepped-up effort to streamline and strengthen the industry in the run-up to China’s 60th anniver­sary on Oct 1, the Shanxi government will tighten its clampdown on small coal mines to restrain supply and, more im­portantly, to avoid mine accidents ahead of the all-important National Day. Partly due to the forced coal-mine closures – a campaign that has seen 2,690 operators in the province shrink to just 1,000 – coking coal prices have rebound­ed some 33 per cent from recent lows, versus a 10 per cent recovery in thermal coal prices. Abterra’s coal operations are in coking coal, primarily destined for domestic steel mills, and it does not engage in thermal coal mining, used mainly in power plants. This is just fine with Abterra, as domes­tic coking coal shortages – chased by steel consumption growth – have meant thatChina has been a net coking coal importer since 2004, but it is still a net thermal coal exporter. “Shanxi is very strict. If the govern­ment catches you mining here without a licence, your power is summarily cut. The provincial government is also crack­ing down on illegal iron ore mines,” said Mr Yang. He said government regulators even use helicopters to ensure compliance in some of the rugged terrain here. “As the industry consolidates, it will become more profitable, efficient and safer. We will boost capacity to 900,000 tonnes per annum (tpa) from around 150,000 now at our Jiao Zhong mine. To do this, we will need around 300 million yuan in­vestment,” he said, adding that the capac­ity uptick will take around one-and-a-half years to accomplish. Mr Yang said his company benefits from a healthy relationship with the pro­vincial government. “The government only wants licensed mines to operate as they are safer and contribute to fiscal revenue in the region. Also, we have had a stellar safety record since we bought the stake in Jiao Zhong in May,” he said. He added that Abterra was “highly au­tomated”, which meant fewer miners un­derground at any one time and less margin for human error. “We are mechanising, so short-term costs will increase with equip­ment purchases and power usage.” And although the mine was currently below the stated minimum 300,000 tpa capacity, Abterra’s aggressive plan to boost capacity to around 900,000 tonnes in 18 months was allowing its operations there to proceed unhindered by bureaucrats. Mr Yang added: “After 2006, the province received more pow­er to crack down on illegal mines, and the authorities put a lot of effort into the campaign. Therefore, most mines in Shanxi are now in compliance with regulations and are more law-abiding. So now the government is targeting those that failed to get official licences or ap­proval as many illegal mines nowadays don’t have safety equipment, and don’t pay required government taxes.” Abterra was also keeping its eye on coking coal margins and selling prices, both of which have been rebounding of late – backed in large part by the more upbeat outlook on China’s steel sector. “Our production costs including tax here are 200-300 yuan per tonne, with selling prices ranging over the past year from 700 to 1,500 yuan per tonne. Pro­duction costs will remain rather constant, and include electricity, raw materials, and labour costs. Wages are the most stable and won’t shift noticeably this year.” He said that Abterra’s biggest buyer of coking coal – raw and washed – was nearby Shanxi Antai Group Holding Co. “One tonne of raw coking coal can be­come 0.55-0.6 tonne of refined/washed coal, which currently sells for around 1,300 yuan per tonne.” The second day was highlighted by a visit to a mine producing another important commodity for China – iron ore. Another long and winding trip up switchback roads culminated in a stop at Abterra’s 22.8 per cent-held Zuoquan Xinrui Iron Ore Mine (to be acquired by year-end). This acquisition is another example of Abterra’s move into more commodities as well as shifting up the supply chain to raw mining operations, in addition to its traditional focus on the supply and trad­ing of various commodities. The Xinrui mine, ranked No 3 in Shanxi province by size, has an annual produc­tion capacity of between 400,000 and 1.5 million tpa with total estimated re­serves of some 37.9 million tonnes. Assuming steady output, this means Abterra will be busy sup­plying Xinrui iron ore to steel mills for nearly three decades! Abterra said it still has a remaining payment of 160 million yuan plus op­tions remaining to finalise the Xinrui ac­quisition. Combined with the ongoing mas­sive economic stimulus which is boost­ing activity in steel-hungry infrastructure projects across China, iron ore – even relatively low-iron-content domestic ore – will continue to command high prices from domestic steel mills. With strong demand for steel, Ab­terra’s prospects look optimistic, which may be why Hong Kong-listed LeRoi Holdings recently entered into an agree­ment to accept shares of Abterra at a far higher valuation (255 million shares at 12.3 cents apiece, or twice the market price), in a swap that saw Abterra re­ceive 385 million shares of LeRoi Hold­ings at 43.5 Hong Kong cents apiece, the market price. Now with a 5 per cent stake in each other, the two companies will explore investment opportunities together in the coking coal, coke and iron-ore mining industry. LeRoi has identified resource projects in the region, which Abterra is keen to participate in. UBS Investment Research recently raised its forecast for China’s crude steel output by 17 per cent to 530 million tonnes this year. This flurry of activity at Chinese mills is hardly the behaviour of an economy practising austerity, or one lacking the confidence to seek aggressive growth and expansion – all qualities that Abterra is counting on to ensure good results going forward. This story was published recently in Pulses magazine, and is reproduced here with permission. Recent story: Insider buying: GUOCOLEISURE, HONGWEI, ABTERRA Related Items

 

The only big attraction of penny stocks is the huge multi-bagging gains that can be gotten when the do surge...

But after surging, they seldom keep rising...

Thus they are only "surgers"...

Often, after such a surging spurt, the only way is down... hehehe...

 

A lifeless stock can come to life when enough steroids are injected into it. Same a stone when not polished or set will be useless.  Now with efforts concentrating on turning this stone to gem underway, I can see this bugger pays off in 1 to 2 years time for shareholders, although actual time might be abit longer because share prices rise first before actual positive events.  Go and load it as soon as possible.  No sudden jerking up of course, but it is better for a share to climb slowly so that you don't even notice your portfolio is gaining much grounds.

iPunter      ( Date: 03-Oct-2009 10:44) Posted: You are spot on here... I mean what's the grand point of carrying a 'lifeless' stock indefinitely? But on the other hand, one should buy such 'lifeless' stocks at a low low floor price (much waiting is involved)... Only then is it worth holding indefinitely (but not hold till eternity 'comes')... hehehe...

 

it's back to 0.005

 

no Q3 result leh.. what rumor ? i checked with Abterra, they also dunno when they will release the Q3

keepnosecrets      ( Date: 05-Oct-2009 15:52) Posted: Not so fast.  Wait for the Q3 report before you make a decision.  WHY is it delayed?  Should be when? risktaker      ( Date: 05-Oct-2009 12:34) Posted: Gone ...