IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video here.
conference in South Africa starts Monday all the big boy and AFF are there - news could come
Buys £162k, £162k, £20k, £32k within 30mins
1-Feb-13 14:57:30 81.45 5,000 Buy* 80.50 82.00 4,073 O 1-Feb-13 14:56:21 81.25 200,000 Buy* 80.50 81.50 162.50k O 1-Feb-13 14:47:04 81.00 200,000 80.50 81.50 162.00k O 1-Feb-13 14:42:42 81.50 25,000 Buy* 80.50 81.50 20.38k O 1-Feb-13 14:35:19 80.50 8,500 Sell* 80.50 81.50 6,843 O 1-Feb-13 14:31:55 81.25 40,000 Buy* 80.50 81.50 32.50k O
Steady today with some good buying - i guess people don't want to be out over the weekend!
There is a goid presentation dated Jan 13 on Afferro webpage that gives good info
Buys coming in and ticking up!
30 January 2013 TSX-V: AFF AIM: AFF AFFERRO MINING INC. Purchase of Further Shares by International Mining & Infrastructure Corporation plc. ("IMIC") Afferro Mining Inc. ("Afferro" or the "Company"), the exploration and development company focused on iron ore in Cameroon, was notified on 29 January 2013 by IMIC that it has purchased an additional 1,111,111 common shares of no par value ("Common Shares") and has the option to acquire a further 1,864,300 Common Shares at 90 pence per Common Share. In addition, IMIC has voting control over the Common Shares that are subject to the option. Following the above transactions IMIC now holds 5,243,342 Common Shares representing 4.99% of Afferro's issued share capital and has voting control over a total of 7,107,642 shares, representing 6.77% of the Company's issued share capital.
Afferro Mining (LON:AFF) – Results from Akonolinga and Further Purchase of shares by IMIC • Akonolinga Early Exploration Work: Interpretation of airborne geophysics has identified potential anomalies of oxidised BIF. • Twenty five pit trials up to 11m deep were excavated with two pits returning grades in excess of 50% Fe. • Assays from surface samples from 194 rock and soil samples were taken at 200m spacing and grades of up to 58.5% were found close to the topographic high of one of the anomalies identified AKFE-23. • Four drill targets have been selected for follow up drilling. • IMIC acquires further shares: IMIC acquires an additional 1.11m shares at a price of 90 per share for a consideration of £1m in cash. • IMIC now holds 6.8% of Afferro’s voting rights with their option to acquire a further 1,864,300 shares at 90 pence. Conclusion: Work at Akonolinga is at an early stage but is located in a prospective region 85 km NW of Nkout.
Skip to Navigation .Cameroon results underline Afferro's value By Patrick Smith | Wed, 30/01/2013 - 10:23 Afferro Mining (AFF) has released encouraging results from exploration at its Akonolinga permit in Cameroon. The iron miner has identified 50 magnetic anomalies, of which four have been selected for drilling. Surface samples encountered grades of up to 58.5% iron and samples from trial pits ran up to 55.9% in iron grade. Chief executive Luis da Silva commented: "The results from Akonolinga demonstrate the potential at the fourth of the company's iron exploration permits, as Afferro looks to create value across its portfolio of projects in Cameroon. "Akonolinga demonstrates strong potential transport synergies with our flagship project, Nkout, as it lies alongside the proposed rail corridor, which Afferro intends to use for transfering iron ore from Nkout." Analysts at Panmure Gordon commented: "[Wednesday's] results provide a timely reminder that Nkout represents only a part of the Afferro story. Nevertheless, in the short term the identification of a strategic partner for Nkout or buyer for Afferro will continue to dominate the agenda." Interactive Investor view This is not a game changer in isolation, with no conclusive evidence of significant direct shipping ores at Akonolinga, but the positive results from the large Akonolinga permit follow good results from drilling at Ngoa and Ntem last year, both also in Cameroon. With all eyes focused on Afferro's talks to identify a strategic partner for the 2.5-billion-tonne Nkout project, Wednesday's results from Akonolinga provide a reminder of the potential value in the rest of the Afferro portfolio. The company has seen its shares rise strongly in the last few months in expectation of a possible takeover. International Mining and Infrastructure Corporation (IMIC) confirmed it had made a takeover approach of between 115p and 140p per share earlier in January. And in a statement, Afferro said discussions were continuing with "other interested parties regarding a possible offer for the issued and to be issued share capital of Afferro", adding that it was currently under exclusivity obligations with "one other party", which precluded Afferro from engaging in discussions with IMIC until 13 January. But analysts at Panmure Gordon said: "Whilst a potential takeover offer for Afferro as a company should not be discounted, should the outcome of those talks be the identification of a 'big brother' strategic partner for Nkout instead, Afferro's attention is likely to turn to the rest of its promising portfolio thereafter."
I really think its part of the 'bidding war'. They are trying to position themselves to fight off Jindal who we know have the cash. They have apporinted a CEO from AFF and now acquired a stronger position in the company, IMIC are serious, so Jindal must also be serious otherwise if it was IMIC's they wouldn't bother would they. Interesting - i would think more news this week or at least a reaction from Jindal or AFF.
Must now be in a strong position to take AFF now
INTERNATIONAL MINING & INFRASTRUCTURE CORPORATION PLC ("IMIC" or "the Company") Purchase of Further Shares in Afferro Mining Inc. Acquisition gives IMIC control over 6.8% of Afferro's voting rights International Mining & Infrastructure Corporation plc (AIM: IMIC), the company focused on unlocking the value of African iron ore through infrastructure development and strategic investments in junior miners, announces it has purchased an additional 1,111,111 shares in Afferro Mining Inc. ("Afferro") and has the option to acquire a further 1,864,300 shares. The shares were acquired at 90p per share for consideration of £1 million in cash; the option to acquire further shares is also for a purchase price of 90p per share with Afferro voting rights vested in IMIC during the option period. IMIC now holds 6.8% of Afferro voting rights. A contingent payment may be required in the event of a change of control in the equity share capital of Afferro. IMIC previously held 4,132,231 shares in Afferro, acquired in July 2012. It now holds, before exercise of the option to acquire additional shares, 5,243,342 shares representing 5.0% of Afferro's outstanding share capital. Exercise of the option to acquire 1,864,300 shares would take IMIC's total shareholding to 7,107,642 shares, representing 6.8%. Haresh Kanabar, IMIC's Chairman, said: "We continue to believe that Afferro has a highly attractive asset in the Nkout iron ore project, the value of which could be unlocked by a deliverable infrastructure solution."
Encouraging Results at Akonolinga Project RNS Number : 6459W Afferro Mining Inc. 30 January 2013  NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES. 30 January 2013 TSX-V: AFF AIM: AFF AFFERRO MINING INC. Encouraging Results at the Akonolinga Exploration Project in Cameroon Afferro Mining Inc. ("Afferro" or the "Company"), the exploration and development company focused on iron ore in Cameroon, is pleased to provide results for the exploration programme undertaken at its 100% owned Akonolinga exploration permit, located 85km North-west of the Nkout Iron Ore Project ("Nkout"). Highlights · Four drill targets identified, with a total of 50 magnetic anomalies discovered · Surface sampling identifies high grades of up to 58.5% Fe · Pits and trenching identify mineralised intersections with grades up to 55.9% Fe Luis da Silva, Chief Executive Officer of Afferro, commented: "The results from Akonolinga demonstrate the potential at the fourth of the Company's iron exploration permits, as Afferro looks to create value across its portfolio of projects in Cameroon. Akonolinga demonstrates strong potential transport synergies with our flagship project, Nkout, as it lies alongside the proposed rail corridor, which Afferro intends to use for transfering iron ore from Nkout to the planned terminal at Kribi. Akonolinga provides further optionality and exploration upside."
AIM was all over the shop - some big downs on good news and some big ups on nothing. I would expect some news this week - AFF in Canada is trading flat, sothis drop can't be news driven, i agree its probably the lack of news and holders moving money elsewhere. I am holding for the ride at 94p! So i am worried but the risk maybe worth it although there are some good shares out there at the moment!
Guys most oil and mining stocks took hits today - CEY LGO BAO NTOG RRL GDL all nearly 10% down
16:25 89.00p 150,000 £133,500 Sell O 11:50 89.25p 100,000 £89,250 Sell OK 11:50 89.25p 100,000 £89,250 Sell OK 16:25 89.00p 100,000 £89,000 Sell O 16:24 89.00p 100,000 £89,000 Sell O 16:29 89.30p 50,000 £44,650 Sell O 16:29 89.30p 50,000 £44,650 Sell O 16:28 89.00p 50,000 £44,500 Sell O 08:07 88.40p 50,000 £44,200 Buy O I can't see how these can be all sells, because we ended up and the bid never moved! I think some are buys.
Not sure they were sells. The SP didnt move as they went through and no MMs dropped off the bid. Hard to tell i will check my broker later to see
But they had to expire the stock options as they are in a 'close period' RNS- The Board of Afferro Mining Inc. ("Afferro", TSX-V & AIM: AFF) announces that 462,500 stock options held by directors and senior employees expired on January 17, 2013 due to the company being in a close period given its discussions with potential partners