CHNR

[AussieTrader]

I am liking the look of CHNR. It is at an interesting point, had a huge run back in January on big volume. Since then falling back to find support, which it seems to have found in the shape of 40 week (200day) MA.
Below news release came out Friday regarding approval for continued listing after recent acquisition. On face value CHNR appears very undervalued and with very low float 1.25M shares. Will need to dig into background a bit more to get further details, but this news digested over the weekend by traders combined with the low float could provide some fireworks next week.


HONG KONG, June 9, 2006 /PRNewswire-FirstCall via COMTEX/ -- China Natural Resources, Inc. (CHNR), a company based in the People's Republic of China, today announced that its new listing application for inclusion on The Nasdaq Capital Market has been approved.

The new listing application was required under Nasdaq rules due to a change in control of the Company resulting from the Company's February 2006 acquisition of Feishang Mining Holdings Limited. Feishang, through its operating subsidiary, engages in the mining of zinc, iron and other minerals in the People's Republic of China. The Company's shares will continue to be listed on The Nasdaq Capital Market under the symbol "CHNR."

Mr. Li Feilie, President, Chairman and CEO of China Natural Resources, commented, "We are pleased that the Staff has approved our new listing application and that the Company's shares will continue to be listed on Nasdaq. We believe that our listing on The Nasdaq Capital Market will provide continued transparency to the investment community and offer investors a liquid market in which to buy and sell the Company's shares."

[REALDEALS21]

China stocks are BACK ! CTDC, CHNR, AOB, CHINA, etc. all up !! EARNINGS NEWS ON CHNR !!

China Natural Resources Releases Interim Results of Operations
Monday November 13, 3:37 pm ET

HONG KONG, Nov. 13 /PRNewswire-FirstCall/ -- CHINA NATURAL RESOURCES, INC. (Nasdaq: CHNR - News), a company based in the People's Republic of China, today released unaudited interim financial statements for the six months ended June 30, 2006 as follows.

   CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
                              (LOSS) (UNAUDITED)
          FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2006 AND 2005
           (Amounts in thousands, except share and per share data)



                     Three Months Ended June 30,     Six Months Ended June 30,

                     2006      2005      2006        2006      2005       2006
                      RMB       RMB        US$        RMB       RMB        US$

    NET SALES      32,526    20,947      4,066     51,664    43,150      6,458

    COST OF SALES  (8,961)   (8,873)    (1,120)   (17,042)  (17,309)    (2,130)
                   ------    ------     ------     ------    ------     ------
    GROSS PROFIT   23,565    12,074      2,946     34,622    25,841      4,328

    SELLING, GENERAL
     AND
     ADMINISTRATIVE
     EXPENSES      (3,715)   (1,814)      (464)    (7,106)   (5,439)      (888)

    INTEREST INCOME   135       240         17        235       270         29

    OTHER INCOME/
     (EXPENSE),
     NET            1,083        16        135      4,958       (24)       620
                   ------    ------     ------     ------    ------     ------

    INCOME FROM
     CONTINUING
     OPERATIONS
     BEFORE INCOME
     TAXES         21,068    10,516      2,634     32,709    20,648      4,089


    INCOME TAXES   (3,338)   (1,570)      (417)    (4,906)   (3,430)      (613)
                   ------    ------     ------     ------    ------     ------
    INCOME FROM
     CONTINUING
     OPERATIONS    17,730     8,946      2,217     27,803    17,218      3,476

    DISCONTINUED
     OPERATIONS
     Loss from
      discontinued
      advertising
      and HARC
      operations,
      net of taxes
      of nil.        (212)        -        (27)      (486)        -        (61)
                   ------    ------     ------     ------    ------     ------
    NET INCOME     17,518     8,946      2,190     27,317    17,218      3,415
                   ------    ------     ------     ------    ------     ------
     Other
      comprehensive
      income/(loss):
       Foreign
        currency
        translation
        adjustments    (3)        -          -        (11)         -        (1)
                   ------    ------     ------     ------    ------      -----
    COMPREHENSIVE
     INCOME        17,515     8,946      2,190     27,306    17,218      3,414
                   ======    ======     ======     ======    ======     ======

    INCOME PER
     SHARE:
     Basic
      Income
      from
      continuing
      operations     1.54      7.17       0.19       2.87     13.80       0.36
       Loss from
       discontinued
       operations   (0.02)        -          -      (0.05)        -      (0.01)
                   ------    ------     ------     ------    ------     ------
                     1.52      7.17       0.19       2.82     13.80       0.35
                   ======    ======    =======     ======    ======     ======

    INCOME PER SHARE:
     Diluted
      Income from
       continuing
       operations    1.27      7.17       0.16       2.27     13.80       0.29

      Loss from
       discontinued
       operations   (0.02)        -          -      (0.04)        -      (0.01)
                   ------    ------     ------     ------    ------     ------
                     1.25      7.17       0.16       2.23     13.80       0.28
                   ======    ======     ======     ======    ======     ======

    WEIGHTED
     AVERAGE
     NUMBER
     OF SHARES
     OUTSTANDING
     Basic     11,548,416 1,247,823 11,548,416  9,670,407 1,247,823  9,670,407
               ========== ========= ========== ========== ========= ==========
     Diluted   13,959,662 1,247,823 13,959,662 12,240,535 1,247,823 12,240,535
               ========== ========= ========== ========== ========= ==========




                    CONDENSED CONSOLIDATED BALANCE SHEETS
                  AS OF JUNE 30, 2006 AND DECEMBER 31, 2005
           (Amounts in thousands, except share and per share data)


                                               June 30, December 31, June 30,
                                                  2006       2005       2006
                                                   RMB        RMB        US$
                                             (Unaudited)            (Unaudited)
    ASSETS
    CURRENT ASSETS:
      Cash and cash equivalents                 72,453     41,202      9,057
      Trade receivables                            502      4,622         63
      Bills receivable                               -        450          -
      Other receivables, deposits and
       prepayments                               1,055        422        132
      Amounts due from a related company             -     20,503          -
      Inventories                                3,584      3,788        448
      Assets held for sale                      25,647          -      3,205
                                             ---------  ---------  ---------
                                                     -          -          -
    TOTAL CURRENT ASSETS                       103,241     70,987     12,905
    PROPERTY AND EQUIPMENT                      36,294     33,656      4,537
    GOODWILL                                    21,915          -      2,739
                                             ---------  ---------  ---------
                                                     -          -          -
    TOTAL ASSETS                               161,450    104,643     20,181
                                             =========  =========  =========

    LIABILITIES AND SHAREHOLDERS' EQUITY
    CURRENT LIABILITIES:
      Accounts payable                           1,011        934        126
      Other payables                            20,380     18,881      2,548
      Advances from customers                    7,040      1,174        880
      Accrued liabilities                        2,437      1,319        305
      Current portion of capital lease              70          -          9
      Amounts due to related parties             6,476      6,476        809
      Amounts due to a director                 13,482     23,644      1,685
      Dividends payable                         18,040          5      2,255
      Taxes payable                              4,224      2,545        528
      Liabilities related to assets
       held for sale                             2,528          -        316
                                             ---------  ---------  ---------
    TOTAL CURRENT LIABILITIES                   75,688     54,978      9,461
                                             ---------  ---------  ---------

    SHAREHOLDERS' EQUITY
      Common shares, no par:
      Authorized - 200,000,000 shares
      Issued and outstanding -
       11,548,416 and 1,247,823
       shares in 2006 and 2005,
       respectively                             19,222          -      2,403
    Additional paid-in capital                       -          -          -
    Reserves                                    35,359      3,912      4,420
    Retained earnings                           30,952     45,513      3,869
    Accumulated other comprehensive
     income                                        229        240         28
                                             ---------  ---------  ---------
    TOTAL SHAREHOLDERS' EQUITY                  85,762     49,665     10,720
                                             ---------  ---------  ---------

    TOTAL LIABILITIES AND SHAREHOLDERS'
     EQUITY                                    161,450    104,643     20,181
                                             =========  =========  =========



The condensed consolidated statement of operations and comprehensive income (loss) for the six months ended June 30, 2006 (unaudited) and the condensed consolidated balance sheet as of June 30, 2006 (unaudited) have been prepared in accordance with generally accepted accounting principles in the United States but omit certain financial statements and footnote disclosure that would be included in full financial statements prepared in accordance with GAAP. The condensed consolidated statement of operations and comprehensive income (loss) for the six months ended June 30, 2006 (unaudited) and the condensed consolidated balance sheet as of June 30, 2006 (unaudited) are derived from, and should be read in conjunction with, the Company's unaudited condensed consolidated financial statements for the six months ended June 30, 2006 and 2005, which was filed with the Securities and Exchange Commission on November 13, 2006 under cover of Form 6-K. The results of operations for the six months ended June 30, 2006 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2006.

This press release includes forward-looking statements within the meaning of federal securities laws. These forward-looking statements are based upon assumptions believed to be reliable, but involve risks and uncertainties that may cause actual results of operations to differ materially from the forward- looking statements. Among the risks and uncertainties that could cause our actual results to differ from our forward-looking statements are our intent, belief and current expectations as to business operations and operating results of the Company, uncertainties regarding the governmental, economic and political circumstances in the People's Republic of China, risks and hazards associated with the Company's mining activities, uncertainties associated with ore reserve estimates, uncertainties associated with metal price volatility, uncertainties associated with the Company's reliance on third-party contractors and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Although the Company's management believes that the expectations reflected in forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to be accurate.


Source: China Natural Resources, Inc.

[422fwhp]

Anyone playing this?


China Natural Resources Releases 2006 Annual Results of OperationsWednesday May 2, 2:43 pm ET


    HONG KONG, May 2 /PRNewswire-FirstCall/ -- China Natural Resources, Inc.
(Nasdaq: CHNR - News), a company based in the People's Republic of China, today
released audited financial statements for the year ended December 31, 2006 as
follows.

                       CONSOLIDATED STATEMENTS OF OPERATIONS
                FOR THE YEARS ENDED DECEMBER 31, 2004, 2005 AND 2006
              (Amounts in thousands, except share and per share data)

                                             Year ended December 31,
                                  2004         2005         2006         2006
                                  RMB          RMB          RMB          US$*

    NET SALES                   77,939       98,962      145,389       18,639

    COST OF SALES              (31,518)     (38,402)     (36,787)      (4,716)
                                ------       ------       ------       ------

    GROSS PROFIT                46,421       60,560      108,602       13,923

    SELLING, GENERAL AND
     ADMINISTRATIVE EXPENSES    (4,597)      (9,172)     (14,170)      (1,817)
                                ------       ------       ------       ------

    INCOME FROM OPERATIONS      41,824       51,388       94,432       12,106

    INTEREST INCOME                162        1,216          904          116

    OTHER INCOME (EXPENSE), NET      6         (223)       4,929          632
                                ------       ------       ------       ------

    INCOME FROM CONTINUING
     OPERATIONS BEFORE INCOME
     TAXES                      41,992       52,381      100,265       12,854

    INCOME TAXES                     -       (8,335)     (15,157)      (1,943)
                                ------       ------       ------       ------
    INCOME FROM CONTINUING
     OPERATIONS                 41,992       44,046       85,108       10,911
                                ------       ------       ------       ------
    DISCONTINUED OPERATIONS
      Income from discontinued
       bleaching earth segment      12            -            -            -
      Loss from discontinued
       advertising and HARC
       operations, net of taxes
       of nil                        -            -         (659)         (84)
      Loss on disposal of
       discontinued operations,
       net of taxes of nil           -            -      (11,901)     (1,526)
                                ------       ------       ------       ------
    INCOME/(LOSS) FROM
     DISCONTINUED OPERATIONS        12            -      (12,560)     (1,610)
                                ------       ------       ------       ------
    NET INCOME                  42,004       44,046       72,548        9,301
                                ======       ======       ======       ======

    INCOME PER SHARE:
      Basic
        Income from continuing
         operations               4.21         4.41         7.46         0.96
        Loss from discontinued
         operations                  -            -        (1.10)       (0.14)
                                ------       ------       ------        ------
                                  4.21         4.41         6.36         0.82
                                ======       ======       ======       ======

    INCOME PER SHARE:
      Diluted
        Income from continuing
         operations               3.74         4.36         6.17         0.79
        Loss from discontinued
         operations                  -            -        (0.91)       (0.12)
                                ------       ------       ------        ------
                                  3.74         4.36         5.26         0.67
                                ======       ======       ======       ======

    WEIGHTED AVERAGE NUMBER OF
     SHARES OUTSTANDING
      Basic                  9,980,593    9,980,593   11,402,372   11,402,372
                             =========    =========   ==========   ==========

      Diluted               11,245,975   10,110,036   13,798,731   13,798,731
                            ==========   ==========   ==========   ==========



                             CONSOLIDATED BALANCE SHEETS
                              DECEMBER 31, 2005 AND 2006
                       (Amounts in thousands, except share data)

                                        2005            2006          2006
                                        RMB             RMB           US$*
    ASSETS
    CURRENT ASSETS
    Cash and cash equivalents         41,202         136,991        17,563
    Trade receivables, net of
     allowance of RMB307 and
     RMB311, respectively              4,622             504            65
    Bills receivable                     450               -             -
    Other receivables, deposits
     and prepayments                     422             604            77
    Amount due from a related
     company                          20,503               -             -
    Inventories                        3,788           5,231           671
                                      ------          ------        ------
    TOTAL CURRENT ASSETS              70,987         143,330        18,376

    PROPERTY AND EQUIPMENT, NET       33,656          37,435         4,799
                                      ------          ------        ------
    TOTAL ASSETS                     104,643         180,765        23,175
                                     =======         =======        ======

    LIABILITIES AND SHAREHOLDERS' EQUITY
     CURRENT LIABILITIES
    Accounts payable                     934           1,231           158
    Other payables                    18,881          28,509         3,655
    Advances from customers            1,174           2,650           340
    Accrued liabilities                1,319           2,371           304
    Amount due to a director          23,644           8,594         1,102
    Amount due to a related company    6,476           3,444           441
    Dividends payable                      5             170            22
    Taxes payable                      2,545           3,265           418
                                      ------          ------        ------

    TOTAL LIABILITIES - ALL CURRENT   54,978          50,234         6,440
                                      ------          ------        ------

    SHAREHOLDERS' EQUITY
    Common shares, no par:
      Authorized - 200,000,000 shares;
       Issued and outstanding
       - 11,548,416 shares in 2006         -          47,250         6,058
    Reserves                           3,912           7,331           940
    Retained earnings                 45,513          76,180         9,767
    Other comprehensive income/(loss)    240           (230)          (30)
                                      ------          ------        ------

    TOTAL SHAREHOLDERS' EQUITY        49,665         130,531        16,735
                                      ------          ------        ------

    TOTAL LIABILITIES AND
     SHAREHOLDERS' EQUITY            104,643         180,765        23,175
                                     =======         =======        ======

    * Based on an exchange rate of U.S.$1.00 = RMB7.80 on December 31, 2006.
      Amounts have been converted from Renminbi to U.S. dollars for
      convenience, and no representation is made that RMB amounts could have
      been, or could be, converted into U.S. dollars at the stated rate or any
      other rate.

The consolidated statement of operations for the year ended December 31, 2006 and the consolidated balance sheet as of December 31, 2006 have been prepared in accordance with generally accepted accounting principles in the United States, and are derived from, and should be read in conjunction with, the Company's consolidated financial statements for the years ended December 31, 2004, 2005 and 2006, as filed with the Securities and Exchange Commission on May 2, 2007 under cover of Form 20-F.

Mr. Feilie Li, the Company's Chairman, commented on the results, "2006 was a solid growth year for China Natural Resources. A strong economy in China boosted zinc demand despite high prices. We shall actively seek opportunities for expansion and growth through acquisition of new mines to broaden our overall output capacities."

This press release includes forward-looking statements within the meaning of federal securities laws. These forward-looking statements are based upon assumptions believed to be reliable, but involve risks and uncertainties that may cause actual results of operations to differ materially from the forward- looking statements. Among the risks and uncertainties that could cause our actual results to differ from our forward-looking statements are our intent, belief and current expectations as to business operations and operating results of the Company, uncertainties regarding the governmental, economic and political circumstances in the People's Republic of China, risks and hazards associated with the Company's mining activities, uncertainties associated with ore reserve estimates, metal price volatility, the Company's reliance on third-party contractors, dependence on a single customer and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Although the Company's management believes that the expectations reflected in forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to be accurate.

[Kublakhan]

More Chinese craziness (that I wish I were part of).  Watch it for a shorting opportunity.

[BigSully1]

More Chinese craziness (that I wish I were part of).  Watch it for a shorting opportunity.

Wow, yet another rocket. Be careful shorting, it might have a lotta fuel left.

[BigSully1]

Up another 50%.

[bjc]

This is unbelievable!

Did you get in Sully?  Truly a sight to see..  I've seen some what I would call "irrational exuberance" before, but this is almost getting out of control.  If there's this much value there, why did everyone think it was worth 80% less 2 or 3 weeks ago?

I just can't buy it.

CHL had pretty good fundamentals about a month ago, but I think even it is getting ahead of itself.  China Life has gone berserk..Aluminum of China.  This is getting out of control.  I've convinced myself I think there has to be some kind of correction. 

The question is..will it affect other emerging markets and US markets?

[BigSully1]

This is unbelievable!

Did you get in Sully?  Truly a sight to see..  I've seen some what I would call "irrational exuberance" before, but this is almost getting out of control.  If there's this much value there, why did everyone think it was worth 80% less 2 or 3 weeks ago?

I just can't buy it.

CHL had pretty good fundamentals about a month ago, but I think even it is getting ahead of itself.  China Life has gone berserk..Aluminum of China.  This is getting out of control.  I've convinced myself I think there has to be some kind of correction. 

The question is..will it affect other emerging markets and US markets?

Not in CHNR. I certainly agree with what you are saying and I have have had to cut back on some of my more overheated positions, but there may still be some good values out there pre rocket. We have been discussing it on the member boards. Are you still a member bjc?

[Kublakhan]

I was considering shorting this morning if it gapped up - good thing I/it didn't.   

[BigSully1]

I was considering shorting this morning if it gapped up - good thing I/it didn't.   

Yeah, don't underestimate the fuel capacity in these things. I thought JRJC would never see $44.50 again, but lo and behold it hit another high today. back below $44.50 now. I'm  too conservative to play most of these rockets long or short.

[BigSully1]

I was considering shorting this morning if it gapped up - good thing I/it didn't.   

Yeah, don't underestimate the fuel capacity in these things. I thought JRJC would never see $44.50 again, but lo and behold it hit another high today. back below $44.50 now. I'm  too conservative to play most of these rockets long or short.

I might try to short LDK tommorrow if shares are available. Sitting right on top it's 50MA right now, but  doubt it'll hold on bad news.

http://stockcharts.com/h-sc/ui?s=LDK&p=D&b=5&g=0&id=p59191861522

[bjc]

Sully-

I was never a member.  I'm finishing up my last semester of college, so I don't really have the cash lying around to pay for the membership.

I'd be interested to hear some of what you guys have been discussing if its by the book and it doesn't violate any 3sof rules or anything.

I saw CDS flashing on the bottom of CNBC today...thought "it might be the next rocket, and i'll probably kick myself tomorrow if it is, but this just isn't my game."  I know the second I hop on the bandwagon everything will start to collapse. 

About CDS, chart looks good...it isn't up over four gazillion % yet....my only bullish thoughts.  Haven't given any look at fundamentals.  I wouldn't touch a Chinese equity with a ten foot pole right now.



On second glance, CDS is about a triple in the past 3 months.  AHH!!!!!!!

[bjc]

Sully, I'd be careful with LDK!

I'd compare the solar issues to China stocks.  They have the ability to TAKE OFF. 

Also, LDK has real earnings.  Real cash dollars and they're growing fast.  Personally, I'd tend to think this is more of a buying opportunity / overreaction to the sell side than an opportunity to short.  LDK forward PE in the 30s.  They made $0.29 last quarter and they're growing fast.  I certainly wouldn't be a buyer tomorrow, as I don't like to catch "falling knives," but there could be some exceptional value presented soon. 

I've been waiting for a reasonable entry on a good solar stock.  In a perfect world you could make a killing on the short side and then I could pick up some cheap shares in the 30s.     I think the area I have circled in the chart should provide some pretty good support.  I am of the opinion the market will react quickly to this bargain.

[BigSully1]

I can understand the college and money thing, bjc, but I couldn't really disclose whats being said without David's permission.

Anyway, you're right about LDK. I'm not short anything right now. Think theres alot more money to be made on the long side and not really looking for shorts.

[bjc]

I've never spoken my mind on this, but I don't think David should've ever made the board premium.

I guess maybe you guys have a great community over there, but I thought the best 3sof days were back in 05 when the site was all open.  You'd get the first page of the stock picking page full in a trading day!  Now it's 3, 4 maybe a few more picks a day. 


And what's with all the controversy?  I feel like 3sof is a soap opera.  Where was David for a few months a year or two ago?  Where did eliteg go?  Where is Michael, one of the premier fundamenal analysts I've ever had the pleasure to observe (sent him a PM, he's very concerned about the markets due to credit crunch and holding nearly all cash / t-bills.)? 

Did the 3sof team ever offer any refund / extension of membership for all those bogus happenings?



LDK looks good.  I'm of the opinion yesterday's selloff was just tons of stops being taken out..the value is there.  This is probably a triple digit stock sooner rather than later.