|Bid||3.305 x 2500000|
|Ask||3.570 x 2500000|
|Day's range||3.285 - 3.540|
|52-week range||2.175 - 3.685|
|PE ratio (TTM)||12.21|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Central Asia Metals (CAML) (CAML.L), which has just bought a lead and zinc mine in Macedonia, would consider further purchases but not for six months, its chairman said on Monday. The $402.5 million acquisition of Lynx Resources, completed on Nov. 6, adds diversity to a miner that until now based its revenues on copper in Kazakhstan and whose chairman had spent around three years looking for a purchase. In the mining sector, still bruised by the commodity price crash of 2015 and early 2016, the Macedonia acquisition is one of this year's standout deals among smaller companies that can still find it hard to raise financing.
Lacklustre performances by small mining companies on the London Stock Exchange are driving rivals in need of cash to find alternative ways to raise capital, either by merging or turning to other markets such as Toronto. Six small miners have listed in London this year, up from two last year, but four of those are now trading below their offer price despite a rally in metals, led by a 27 percent jump in copper and aluminium prices and a 10 percent rise for gold. London hosts the world's biggest mining companies, including Rio Tinto (RIO.L) (RIO.AX) and BHP Billiton (BLT.L) (BHP.AX), but the poor performance of newly listed miners and other small miners trading in London is pushing some to change their plans.
Kazakhstan-focused copper miner Central Asia Metals (Stuttgart: 9C3.SG - news) said it would buy Bermuda-based Lynx Resources Ltd in a $402.5 million reverse-takeover deal from its owners. Lynx Resources, which mines zinc and lead, is owned by Bermuda-based fund Orion Co-Investments III L.P. and Swiss PE firm Fusion Capital AG. CEO Nick Clarke said the main reasons for the purchase was the low cash costs and that zinc and lead prices were forecast to remain strong in the short to medium term.
Kazakhstan-focused copper miner Central Asia Metals (Stuttgart: 9C3.SG - news) is on the hunt for new projects after lowering its costs and achieving record production in 2016, its executive chairman said on Tuesday. With (Other OTC: WWTH - news) no debt and $40.4 million in cash, Executive Chairman Nick Clarke said the London-listed company could look for new projects but did not specify which assets were under consideration or exactly how much it might spend. "For the size of the company we have reasonably good fire power," Clarke (Toronto: CKI.TO - news) told Reuters.