Riversdale Mining
Riversdale Mining (RIV) is a coal exploration, mining and development Company, with operations in Australia and Africa. The Company operates several resource projects in Southern Africa. Riversdale Mining listed on the Australian Stock Exchange (ASX) on 24th January, 1986. RIV is a part of the Standard & Poor’s ASX 100 Index. On 1 December 2005, Riversdale acquired 74% in an operating underground anthracite mine, ZAC situated in the Zululand coalfield of northern Kwa-Zulu Natal, South Africa. The Company produced 917,622 tons of coal from run of mine (ROM) during fiscal 2008.
International mining giant, Rio Tinto (ASX:RIO) has increased its stake to 52.6 percent in South African based coal producer, Riversdale Mining (ASX:RIV). Rio Tinto offered shareholders $16.50 per share giving Riversdale a value of $US4 billion.
Coal mining company, Riversdale Mining (ASX:RIV) have confirmed that it is in discussions with Rio Tinto (ASX:RIO) for a possible $3.5 billion takeover bid, yet Rio Tinto has not yet placed a formal submission. The discussions were in confidence and Rio Tinto advised Riversdale that it is not in a position to submit a proposal for the potential acquisition of the Company.
Peruse the dividend history for RIVERSDALE MINING LIMITED. A taxable payment declared by a company's board of directors and given to its shareholders out of the company's current or retained earnings, usually quarterly. Dividends are usually given as cash (cash dividend), but they can also take the form of stock (stock dividend) or other property. Dividends provide an incentive to own stock in stable companies even if they are not experiencing much growth. Companies are not required to pay dividends.
Riversdale Mining (RIV), a coal exploration and mining company that operates in Australia and Africa was the worst performer in the Australian Stock Exchange that lost 9.1 percent to its stock price closing the week at $5.62. The company closed at $6.18 in the earlier week. Riversdale Mining’s market capitalisation was $1075.4 million.
Consolidated Media Holdings (CMJ), a company that is engaged in the business of gaming, entertaining, television broadcasting, program development, magazine publishing and distributing, subscription television, investment in internet was the best performing stocks in ASX100 index for the week 28 with a gain of 17.1 percent or 38 cents in its stock price closing the week at $2.60.
Boom Logistics (BOL) was the overall worst performing stock taking in a 25.5 percent decrease in its share price this week. Among the worst performing stocks for the past trading week (week 7 for 2008) on the Australian sharemarket were a mixture of financial services, electronic, implant devices, constructing and logistics: Challenger FSG (CGF), Cochlear (COH), Leighton (LEI), Boom Logistics (BOL), JB Hi-Fi (JBH). These worst performing stocks for week 7 of 2008 were ranged from 12 percent to 25 percent in their losses.
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