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I picked up some options in CES a few months ago, long expiry and 20c excercise price.

SP has come off majorly in the last few months, though from a fundamental point of view, they have a significant amount of cash (nearly $2m), are about to receive upto $5m worth of shares in a new coal asx float, have coal and iron ore projects in indonesia.

All this and a mc of $753,000 (undiluted).

CES released more results today from its abadi project, consistent seam definition of upto 7m thickness. Good calorific content (though I'm not an expert).

Maiden JORC being worked on by Ravensworth consultants, expected May 08.

Seems very very undervalued fundamentally. Coal projects are advancing nicely, iron ore projects very early days - recently announced acquiring 4 indo companies who own approx 20,000 hectares of concenssions containing haematite outcrops. No other work performed since, though you would expect some rock chips at the minimum in the near term.

It just seems strange that the m/c is less than a million dollars, yet has assets way outstripping this value. Low liquidity stock (26m shares on issue).

Would appreciate some thoughts from fundamentalists re the potential of CES, as a coaler (which is where the value probably lies) and of the unexplored iron ore (a nice to have?). Management looking to make further acquisitions.
 
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Re: CES - Coal Fe Resources

CES is up 60% today alone, options up 66%.

Had some nice rises last couple of days.

Coal jorc due in May.
 

michael_selway

Coal & Phosphate, thats it!
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Re: CES - Coal Fe Resources

CES is up 60% today alone, options up 66%.

Had some nice rises last couple of days.

Coal jorc due in May.

Hey nice rise today, but it look like no JORC resource/reserve as yet

Coal Fe Resources Limited (CES) is a coal exploration company with the projects located in Indonesia.

One of the drivers of the drill program is to detail and prove the Abadi project to meet relevant JORC measured resource requirements. Work on a JORC compliant resource estimate is in progress by our consultants, Ravensgate and should be completed in May 2008.


thx

MS
 
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Re: CES - Coal Fe Resources

Hi Michael, yes nice rise today, and for the last couple of days.

I'm now free carried in this (cant believe I made a good trade, with so many losses this year!).

As the last ann states, JORC resource due in May, next month. Should see increased interest in the run up to release? Who knows.

I would like to see an ann re the iron ore tenements they acquired a few months ago, some rock chip sampling would be nice.
 
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Re: CES - Coal Fe Resources

CES heads up to 25c in a busy morning, settling down around 19c now. From 8c last week, a nice run!

Good run on the oppies too, though buyers hesitant due to low liquidity.

"We know nothing" response to ASX speeding ticket.
 
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Re: CES - Coal Fe Resources

So do you guys think this will go pass the 25c mark, or consolidate around low 20s?

Thinking of entering for a quick buck

Thanks
 
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Re: CES - Coal Fe Resources

There is a low volume, im worried that once your in there it's going to be hard to get out.

But the first part is getting in
 
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Re: CES - Coal Fe Resources

Hows the outlook on this stock, i feel that it may have run its race(?)

Im a relative newbee here on this forum but really am interested in this stock

Thanks

Happy Trading!
 
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Re: CES - Coal Fe Resources

Hows the outlook on this stock, i feel that it may have run its race(?)

Im a relative newbee here on this forum but really am interested in this stock

Thanks

Happy Trading!

My initial thoughts were this would hit 20c ans stay around 18-19 until the May jorc. Low liquidity stock, so movements can be large, hence the large spread for the oppies. If the jorc is good, then watch out above, if not, then a drop is on the cards.

Dont forget they have iron ore tenements which need initial exploration.

Happy with rise so far, it was very undervalued and sold off heavily on the back of the NTS coal deal falling through (which was a massive deal) - they are also duw $5m worth of shares in an upcoming asx coal float (for those NTS mines!).

There is value there. DYOR.
 
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Re: CES - Coal Fe Resources

I am again confused by this stock AGAIN going up, their expenditure is incredible, $1.4M of admin in 9 months, yes this may be because they were working on other deals and will receive $5M worth of shares for this but will they be able to sell the shares and get $5M in the current market? I don't think so. The float is going to be a long way off anyway (even if they do find investors for the IPO) and they only have $441K left in the bank. With last Q spend at 771K. Why on earth is currently trading at .140? Please could someone enlighten me?
 
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Re: CES - Coal Fe Resources

Sorry, I am still trying to get over the 1.4M spent on admin in 9 months, incredible!

Knowing Indonesia deals it probably goes like this:

$999 - 1000 rolls of sticky tape at 0.99c each (always needed in an Indonesian deal - it holds things together)
$500 - for staplers and staples (needed because sticky tape tends to run out)
$2000 - for glue (sticky tape & staples didn't work)
$10000 - super glue (if all else fails super glue is always there)
$1,388,301 - last resort - back hander's, back rubs, a few nice cars, trips abroad etc. Damn that didn't work either

So what did they get for their "ADMIN" money

First of all CES spend lots of "ADMIN" money trying to "acquire" a 60M coal company (when they are a minnow & newly listed) - FAILED

Second of all they spend time and "ADMIN" money on the HRL deal where they will acquire 10,000,000 shares "BELIEVED" to be worth $5M, if you look at the IPO, HRL is offering $10M worth of shares - if it can't get that then it doesn't matter - minimum subscription is $1M - how much do you think those 10M of shares that CES receives will be worth? And how easy do you think it will be for them to sell to raise working capital.

This is there only capital for 1 and a bit years of being an ASX company. This company is a disgrace and spent nearly all of their money on "ADMIN", spending little to nothing on what the prospectus entailed.

I got out way back last year, I am sorry but the word Cowboy's doesn't fit this company. They are just plain useless and corrupt.

There are buyers in still at 0.13 - Amazing, sorry thats my rant. If you feel differently please respond.

It would be interesting to hear.
 

michael_selway

Coal & Phosphate, thats it!
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Re: CES - Coal Fe Resources

Sorry, I am still trying to get over the 1.4M spent on admin in 9 months, incredible!

Knowing Indonesia deals it probably goes like this:

$999 - 1000 rolls of sticky tape at 0.99c each (always needed in an Indonesian deal - it holds things together)
$500 - for staplers and staples (needed because sticky tape tends to run out)
$2000 - for glue (sticky tape & staples didn't work)
$10000 - super glue (if all else fails super glue is always there)
$1,388,301 - last resort - back hander's, back rubs, a few nice cars, trips abroad etc. Damn that didn't work either

So what did they get for their "ADMIN" money

First of all CES spend lots of "ADMIN" money trying to "acquire" a 60M coal company (when they are a minnow & newly listed) - FAILED

Second of all they spend time and "ADMIN" money on the HRL deal where they will acquire 10,000,000 shares "BELIEVED" to be worth $5M, if you look at the IPO, HRL is offering $10M worth of shares - if it can't get that then it doesn't matter - minimum subscription is $1M - how much do you think those 10M of shares that CES receives will be worth? And how easy do you think it will be for them to sell to raise working capital.

This is there only capital for 1 and a bit years of being an ASX company. This company is a disgrace and spent nearly all of their money on "ADMIN", spending little to nothing on what the prospectus entailed.

I got out way back last year, I am sorry but the word Cowboy's doesn't fit this company. They are just plain useless and corrupt.

There are buyers in still at 0.13 - Amazing, sorry thats my rant. If you feel differently please respond.

It would be interesting to hear.

Thanks very interesting, we will let bigt respond to that one

thx

MS

Coal Fe Resources Limited (CES) is a coal exploration company with the projects located in Indonesia.
 
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Re: CES - Coal Fe Resources

With so much action in coal stocks thought CES might be worth a look, very low mkt cap and about to release there intial jorc resource on their Abadi Coal Project . Could be worth a look, notice stocks like TCM and BWN have had massive increases of late, could CES be the next to fly, seems to be tightly held. Options very cheap as well.

appreciate anyones thoughts on this.
 
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Re: CES - Coal Fe Resources

Proper, I think you are right to be sceptical. Further, there appears to be (from the Abadai announcment) an attempt to prove a JORC compliant resource with limited bores. At the time of the announcment, only 26 and coal seam thicknesses only .38 to 6.99 m, below the cutoff for most companies. Most unusual to make an announcment on such limited information and suggestive (IMO) of a marketing rather than exploration focus.

IMO there are far less risky small caps to consider.
 

michael_selway

Coal & Phosphate, thats it!
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Re: CES - Coal Fe Resources

With so much action in coal stocks thought CES might be worth a look, very low mkt cap and about to release there intial jorc resource on their Abadi Coal Project . Could be worth a look, notice stocks like TCM and BWN have had massive increases of late, could CES be the next to fly, seems to be tightly held. Options very cheap as well.

appreciate anyones thoughts on this.

Hey thats true, very early days these coal explorers. Btw TCM is new to me, ill add it to the list!

thx

MS
 
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Re: CES - Coal Fe Resources

Proper, I think you are right to be sceptical. Further, there appears to be (from the Abadai announcment) an attempt to prove a JORC compliant resource with limited bores. At the time of the announcment, only 26 and coal seam thicknesses only .38 to 6.99 m, below the cutoff for most companies. Most unusual to make an announcment on such limited information and suggestive (IMO) of a marketing rather than exploration focus.

IMO there are far less risky small caps to consider.

Just checked the Handini Resources IPO with which CES will receive the 10M shares, its still open - 3 months and counting so far!
 
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Re:NOT CALLED CES FOR NOTHING!

Here is what CES are getting for all the cash they burnt,some coal in the middle of indonesia...:banghead: 280 kms to the port..by truck.gee management should be sacked asap...very poor return.no quad roadtrains to run 100t over there,be lucky to get 20t per truck...tb

murabungo coal project
 

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Re: CES - Coal Fe Resources

so CES is seeking to do an in specie distribution of its holding in handini resources (HDI) to s/holders

HDI operate a coal mine in indonesia

... oh and they have been suspended since march (for failure to provide financials), and in a market update on 03/04/09 they indicated

...

The Indonesian subsidiaries financial accounts are currently being reviewed by the auditors and the Board expects the consolidated half year review to be completed and lodged with ASX by the middle of May 2009

...
august and no financials

in specie distribution or pass the parcel (they may be free but that maybe the right price)

cheers :)

another quality post brought to you by happytown inc
 
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Re: CES - Coal Fe Resources

Ah, how things change. First shipment has now gone and free-carried cash starts coming in this month. Offtake agreement is now in progress, and its now a matter of production ramping up, and exploratory drilling recommencing to expand the resource base.

Check out the relodged ASX presentation on 1st December.
 
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Re: CES - Coal Fe Resources

Oh, and all financials are now up to date...

Things have improved markedly for the company over the last 3 months.
 
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