Cleveland Mining (CDG)

[trackers]

Found these guys via Patersons Securities website, who were pedalling the IPO via backdoor listing.

http://www.clevelandmining.com.au/

Australian owned Brazilian gold mining company focussing on under-explored brown fields projects and new greenfields projects..

MD is ex bigwig at Fortescue, Director was a founder at Fortescue with 50 years mining experience ("Mr Willams has reviewed in excess of 20 DFS, with no project he approved having ever failed.") and Chairman is Donald Bailey a former Mining Director of Rio Tinto

Starts trading on monday and I'll be watching closely. Anyone looked into this one?

[Corporate]

Thanks for the heads up on this one Trackers. I've just started reading there website and I'm so far impressed.

Do you know how many shares will be on issue, and the market cap?

[trackers]

Thanks for the heads up on this one Trackers. I've just started reading there website and I'm so far impressed.

Do you know how many shares will be on issue, and the market cap?

Hi Corporate, I originally thought 70 mil (market cap of 14mil if 0.20 holds) but it looks more like 110mil (30mil raising + ~70mil for takeover)... Which would give it a market cap of 22mil if 0.20 holds.

Seems a bit high for ~5mil cash, and a couple permits that have had VTEM run over them so we'll see how it goes.

[Corporate]

Agreed - I thought this could be a good buy at a market cap of around $10-12m. It's got some very qualified Directors.

[trackers]

One more thing. Looks like about half the shares on issue (55mil odd) will be in escrow for 2 years, and the other half quoted as of today (53mil).

Guess thats good for the sp, but bad for me trying to bottom feed my way in :)

[trackers]

Opened up 50%...... Wish I'd managed to get in on the IPO.

But seriously, have a read of the announcement today. These guys talk an amazing game, and they have the credentials to back it up. If they do anything like they are suggesting they will in about a year they'll have a gold mine up and running thats profitable at 200/oz.

Note that drilling in their main permit, Premier, is underway at the moment and results are probably expected soonish. Note also that whilst the market cap is fairly high, most of the register is tightly held and/or shares in escrow.

Presentation:

http://www.stocknessmonster.com/news-item?S=CDG&E=ASX&N=510065

[trackers]

I've just completed my most successful trade ever (not in terms of % gain, but just overall). CDG listed 2 days ago (when I bought in), its risen 50% in that time and I've taken a free carried position.

Nice.

Paterson's clients who picked this up in the IPO at 20c (now trading at 45c) will be laughing all the way to the bank.

If the pending drilling results are good, this thing has blue-sky potential (though thats a big if)

[lewinsky]

Hi Trackers.

All a bit quiet on this one. Are you still comfortable with progress?

Cheers

LEW

[Nigel]

Anyone still following CDG? Anyone at the AGM today? Looks like an interesting stock to me - five projects in Brazil (two gold, three iron ore), they're already producing, with significant potential at other high quality sites. Market cap under $30mil. Currently trading at 11.5c, once upon a time was over 80c. Seems cheap. Thoughts?