china molybdenum to launch ipo in hk next mont

KSO's tenements in china is drilling for world-class molybdenum/copper deposits.

Moly is a well-known commodity in china.

One of the 4 drilling projects is Marmot-Ridge ,
drilling updates is expected in July/Aug 20808, a few weeks time.

WHAT IF kso's dicovery is similar magnitude as that of
China Molybdenum:

".. China Molybdenum has the world's biggest molybdenum mine with a proved reserve of 2.06 million tons.

It produces a daily 20,000 tons of nonferrous metals including molybdenum and tungsten.
.......
The underwriting syndicate predicts that China Molybdenum will earn at least 2.2 billion yuan in 2007, soaring 45 percent from the revenue of 1.515 billion yuan in 2006.

"


have fun!

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1 usd = 7 Yuan
1 usd = 13HKD


China Molybdenum to launch IPO in HK next month
(www.chinamining.org)
Updated: 2007-03-29 13:36
Counter:4031

China's 3rd largest molybdenum miner China Molybdenum Co., Ltd. plans to launch its initial public offering (IPO) on April 26 in Hong Kong Stock Exchange, market source said.


It plans to issue 1.083 billion shares in HK for 300-700 million US dollars (about 3.9-5.46 billion HK dollars). The newly-issued shares account for 22.73 percent of the expanded capitalization. Besides, it will issue an additional 10 million shares to deposit in social security fund.


China Molybdenum will carry out a formal roadshow as of April 4 and public offering is primarily set to start on April 16.


The underwriting syndicate predicts that China Molybdenum will earn at least 2.2 billion yuan in 2007, soaring 45 percent from the revenue of 1.515 billion yuan in 2006.
The P/E ratio is to range between 15-16 times. The money raised may be used for production expansion, developing tungsten production and acquisitions.


China International Capital Corp (CICC), one of the underwriters, said in a research report that China Molybdenum will maintain strong growth momentum in 2007 and 2008 with its net profit surging 53.5 percent and 35 percent year on year respectively to 2.33 billion yuan and 3.15 billion yuan.
The revenue is expected to leap by 45.1 percent to a record 5.55 billion yuan in 2007 and jump a further 21.6 percent year on year in 2008 to 6.75 billion yuan.


CICC forecast that the main driving forces for the company may come from the operation of a tungsten recycling plant in 2008, rising price of tungsten due to large demand, and the continuous growth of tungsten output.


Market source said that there are a number of magnates having shown interest in subscribing shares of the company. Even Baosteel, the biggest client of the company, is willing to buy the share. It is learned that China Molybdenum plans to introduce no more than five strategic investors this time.


China Molybdenum has the world's biggest molybdenum mine with a proved reserve of 2.06 million tons. It produces a daily 20,000 tons of nonferrous metals including molybdenum and tungsten.


Besides China Molybdenum, the mainland's biggest molybdenum producer Jinduicheng Molybdenum Group Co., Ltd. is also brewing its IPO launch in Hong Kong to raise some 1 billion US dollars (about 7.8 billion HK dollars).
Deutsche Bank, Merrill Lynch and NBS may be the sponsors of the offering.