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Copper price at new highs so good for the mine. Copper and Iron Ore prices also good for MGR as they must be broking at lot of product. The high operational gearing will help profits here.
as the big players build their empires:- http://splash247.com/offshore-drilling-rig-empires-emerging-take-industry/?utm_source=dlvr.it&utm_medium=twitter which explains why our jv partner, Yangzijiang Shipbuilding, has raised cheap money to grow their business and expand its jv's:- http://research.sginvestors.io/2017/09/yangzijiang-shipbuilding-cimb-research-2017-08-31.html#.Wa0BwY8w2rI.twitter we await our Interims with great interest.
And iron ore holding up well. Copper surging! All looking good re MGR, copper mine stake. I saw a BBC news special report last night in Africa's incredible population explosion. More houses, cars =copper especially. E.g Nigeria's alone is expected to overtake U.S by 2050! Staggering!
With copper and Iron Ore reaching new highs MGR should be benefiting and with its operational gearing the AMED m/c of less than £5m at 15p it is well undervalued imo. Half year figures due in a couple of weeks will be interesting.
Someone bouhht 800quid worth. ..sp plus 15% LOL
Since Qatar Investment holds 61.09% - thought under the AIM regulations anyone with 30% or more got to make take over of rest of holdings?
Yes it drifted down on very few trades. Now watch it move up equally quickly, as we know Interims are out in September. Ridiculously low market cap given rig asset, 2.5% copper mine investment in Ganjine Kani Company ("GKC") (with a 5 year $2m option for a further 5%) and a 49% holding in MGR Resources. This from the RNS of 11/1/17 re MGR:- "Amedeo has made available to MGR Resources Pte ("MGR") a loan facility of US$800,000. The facility bears interest at 10% per annum and is intended to be used for working capital. The iron ore price has been rising since its lows (around US$38 per tonne) at the end of 2015 and now is over US$70 per tonne. This rise has led to increasing opportunities in the iron ore market which MGR intends to take advantage of. MGR has an existing US$400,000 loan from Amedeo." Re the 2.5% investment in GKC, this from the RNS of 19/1/17:- "GKC has been selling copper concentrate into Asia, including China. MGR Resources PTE Ltd ("MGR"), which trades and brokers iron ore and in which Amedeo has a 49% stake, intends to work with GKC to increase GKC's supply of copper into East Asia and China." Glen Lau, Chief Executive Officer of Amedeo said "We are pleased to have made this acquisition which will allow MGR to widen the commodities it trades and brokers and, at the same time, give MGR a captive supply of copper."
with only 33m shares in issue of which 66% of those not in public hands so only around 10m stock available to play with. http://amedeoresources.com/en/content/8-investor-information/16-aim-securities
something happening on usually quiet stock
And with no debt, a JV with YZJ who are China's most profitable shipyard(ranked 4th in world), backed by £billion shareholders who haven't sold any ever as far as i'm aware. The rig will be sold sometime, as it's one of the most highly specified & sought after, & indeed as Amed have correctly said, the offshore market is slowly returning. Re the rig sale "received serious indications of interest" see RNS 30th May. Oil prices will slowly recover to continue interest(think Texas, Venezuela, Libya oil troubles especially) The Offshore yard & MGR will show greater revenues, returns going forward.
Gonna buy soon.. very soon..
Managed to complete the sale of the first rig order. Only hold a 2.5% stake in the copper mine. Have an awful BOD that have no record of success in this sector. Sell and stay away !
And further new highs for copper Amdeo massively undervalued.
Time for a JV win http://worldmaritimenews.com/archives/228331/report-angelakos-books-up-to-six-panamaxes-at-yangzijiang/
Spectacular continued rise in the price of copper, at three year's high, indeed should reflect itself in the Interims, and into next year's Finals in June particularly. http://www.mining.com/copper-price-rally-gathering-momentum/ The Offshore yard will entertain greater significant projects, as a result of their new JV, gaining momentum from next year, one expects, as the Chairman of YZJ mentions in below link. http://infopub.sgx.com/FileOpen/Announcement_YZCK-Fin.ashx?App=Announcement&FileID=468166 As for the rig delivery....further news may be revealed in the Interims, but I'm fed up with hearing it'll be "end of year"!
The price continues to rise and must be good news for AMED. MC of less than £5m won't be around for much longer. I suspect that the Interims will set the sp moving as there is likely to be good news from the copper investment and MGR.
A MAJORITY-OWNED subsidiary of Yangzijiang Shipbuilding has entered into a joint venture involved mainly in steel structure fabrication business. YZJ said after Wednesday's trading close that its 79.6-per cent-owned subsidiary, Jiangsu Yangzijiang Offshore Engineering Co, will subscribe for a 40 per cent equity in the new JV. Some undisclosed JV partners will hold the other 60 per cent interest. The JV company, Jiangsu Yangzi Chengkang Marine Equipment Co, will be established in Taicang, Jiangsu province, with an authorised share capital of 100 million yuan (S$20.4 million). The JV will be developed as a manufacturing enterprise dealing with integrated services. These services relate to the provision, distribution, import and export, as well as after-sales support for certain steel products. YZJ noted that with China's "One Belt, One Road" initiative gaining momentum, demand is promising for infrastructure-related structures from countries located along the land and sea routes. The Taicang-based JV is poised to benefit from China's clout as a leading steel exporter, accounting for 22.8 per cent of the world's steel export in 2016. YZJ added that the JV also stands to tap "huge room" for infrastructure development in South-east Asia. For a start, certain amount of leasing income for YZJ will come from the use of its existing production capacity and facilities by the JV. YZJ has rallied recently on a strong showing in its second-quarter performance, having posted a 73 per cent surge in net profit to 719.9 million yuan.
with Jiangsu Yangzi Chengkang Marine Equipment Co. Ltd
New JV announced today with our offshore yard, Interesting new development, two links below hxxp://www.offshorewind.biz/2017/08/23/jiangsu-yangzijiang-sets-sights-on-offshore-structures/ hxxp://splash247.com/yangzijiang-establishes-new-offshore-structure-manufacturing-jv/
due next month
The price of Copper and the demand for it can only be good news for MGR and Broking is highly operationally geared so we can expect a good return on top of the interest. MC less than £5m as well.
Well spotted Kinico and only serves to confirm that AMED are in very good company that can be further developed over the coming years. The half year figures should be interesting as should any update on the second half. It would appear that all investments are progressing well yet still to be reflected in the MC.
update on rig news hopefuly