oppies at discount, page-22

Celamin Holdings (ASX: CNL) has noted that Commonwealth Bank of Australia (ASX: CBA) acquired 1,720,876 shares on 13 May 2011.

Commonwealth Bank now holds a 5.02% stake in the company making it a substantial shareholder.

Celamin is a little known phosphate play that is about to garner greater attention as a feasibility study on a high grade, low cost phosphate mine development in Africa is expected by September.

Another substantial shareholder in Celamin Holdings, Lion Selection Group (NSX: LGP), acquired an additional 480,367 shares in Celamin on the 1st, 2nd and 3rd March at an average price of $0.40 in on-market purchases.
On March 28 Lion Selection once again boosted its stake with an on-market purchase of 750,000 shares at $0.42 for a consideration of $315,945. The company now holds 14.55% of Celamin.
For investors not in the know, Celamin, formerly Victorian Goldmines was operating as a gold explorer.

On 29th July last year, all that changed. Victorian Goldmines acquired 100% of Celamin which owned 80% of two phosphate Exploration Permits and base metals projects in Algeria and Tunisia.

Victorian Goldmines issued shares to Celamin shareholders in return for the projects to be vended into Victorian Goldmines. A name change was effected.

The African permits cover phosphate deposits with identified target potential that has been estimated from previous exploration and mining at 230-320 million tonnes at 17-22% phosphate.

http://www.proactiveinvestors.com.au/companies/news/16427/celamin-holdings-commonwealth-bank-becomes-substantial-shareholder-16427.html