China Mining

China Mining Int'l (CMI) proposes to acquire China Minerals Energy (CME) in $1b reverse takeover (RTO) deal to become a pure mining play. CME is 51% owned by Henan government-backed China Geological Exploration (CGE) and 49% owned by Guide True, the investment vehicle of CMI, and has interests in five mining assets. The acquisition will be satisfied by the transfer of shares in CMI's existing property business and exploration rights over iron ore mines in Xinjiang and Henan provinces, and the issue of 10.3bn new shares at $0.09 each.

China Mining is cheap at its current price of $0.064 compared to its new issuance price at $0.09.

China Mining share price is creeping up today!

China Mining has made several investments, which are
listed on the Shanghai Stock Exchange,at an aggregate investment cost of RMB 41.3 million.

Please refer to this sgx link for details:http://www.sgx.com/wps/portal/sgxweb/home/company_disclosure/company_announcements. It has made RMB 1.6m paper gain on these investments.

My friend was in shock to receive 1.7 cent dividend the other day. A special dividend. Made his day!

1.7 cents on 6.5 cents stock = 26% yield. That's right, 26% yield.
But doubt it can be repeated.

One of the best-performing S-chips in the past 3 months. Was 5.5, touched 8 cents today!

I have a 'feeling' about this stock. 7.9 cents now. Was 5.5 cents in Oct low. I sense there's Accumulation going on. Why -- I don't know. Perhaps privatisation, perhaps good RTO. Not inducing anyone to trade, just sharing a hunch.