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Amerisur Share Chat (AMER)



Share Price: 20.00Bid: 20.00Ask: 20.25Change: -0.25 (-1.23%)Faller - Amerisur
Spread: 0.25Spread as %: 1.25%Open: 19.50High: 21.00Low: 18.75Yesterday’s Close: 20.25


Share Discussion for Amerisur


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DiveCentre
Posts: 159
Off Topic
Opinion:No Opinion
Price:20.25
Geoffrey N Lancaster
Today 14:52
Does anyone know anything about this person? Claims to be an oil investor and is showing interest in AMER. He referenced the Share Hub post in twitter.
 
bakoven
Posts: 4,091
Off Topic
Opinion:No Opinion
Price:20.50
RE: Rex Harbour, Michinoko and GC
Today 14:23
RH should be smart enough by now to know what is becoming a general rule . . . anything involving B-BEE is "don't go anywhere near it". Black empowerment action is crippling industry and some argue will eventually destroy it.

Am equally surprised that GC is pressing ahead with development of IRON and his smelter in Middelburg. Hope he's got it right.
BaileyClark
Posts: 674
Off Topic
Opinion:No Opinion
Price:20.50
RE: Rex Harbour, Michinoko and GC
Today 14:13
Oddly enough I was also researching Rex Harbour yesterday and looking at his involvement in Mintails. As you say, there was some surprise that Mr Harbour was still backing the business after its recent troubles. The company has been accused of several misdemeanours including environmental pollution. Given its chequered history and financial troubles it does seem surprising if he is favouring them to us. Mind you, they are parachuting in new management there so perhaps Mr Harbour has more control over the direction of that company than this. I also discovered he is now 82 so another possibility is that he has decided to wind down a bit. I concur that it would be beneficial to see his exit sooner rather than later if he wants a complete break from us. How difficult would it be, i wonder, to find a buyer?
bakoven
Posts: 4,091
Off Topic
Opinion:No Opinion
Price:20.75
re: RH, Mich & GC
Today 10:04
Excellent piece of research from you. I had no idea on RH history re Mintails although his name had always been somewhere in the cerebellum. A lot has now been explained. Bearing in mind my own long association of 30+ years with SA the names/connections you refer to are a constant source of interest if not intrigue.

I would like to say more but feel the platform for it is not here.
jointhedots
Posts: 1,317
Off Topic
Opinion:No Opinion
Price:20.75
View Thread (6)
Rex Harbour, Michinoko and GC
Today 09:48
Michinoko and GC connections are opaque but they are involved in other venture(s) together as previously posted - Rex Harbour's place in this on the other hand is even more hazy to say the least - but that doesn't mean links don't exist. After bakoven's post yesterday I decided to do a little digging:

Rex is allegedly of British/South African citizenship with his investment company based in the UK. Clearly he is very rich and I reckon possibly aligned with other wealthy entities that value privacy. First thing to mention is that reading the latest holding RNS, Rex didn't disclose his sales - "Amerisur has received notification from its registrar, Capita Asset Services" possibly as a result of asking them to check all major shareholders. We can criticise Rex (and have)for not informing the market but actually there is nothing compelling foreign shareholders to inform and the rules appear pathetically enforced in any case.

I found the South African thing very interesting as GC an Michinoko are connected via mining ventures in SA. A search of Rex reveals he (or his family) also have interests in South African mining which would explain why he is selling down his Amerisur holding rather than any loss of faith.

Apparently he (his company) is the main creditor of a gold tailing treatment company called Mintails, it was quite a big outfit (1000+ employees) that hit the skids a while ago and called in a Business Rescue specialist Rex's company "Paige" is the main creditor and I suppose stands to lose a heck of a chunk of money if the business isn't rescued, so they have agreed to finance it and even introduced another financier. The articles I have read express surprise that Paige are doing it (looks like a dead duck/ money pit to me).

But it explains why Rex is selling Amer - he is sort of a distressed seller and must raise the promised cash - only yesterday it was reported "Mintails completes restructuring of its operations" so Rex seems to have provided the promised Money for phase 1, most likely needs to stump up more for phase 2, if Mintails sell assets apparently he will claw back some of his committed cash

The good thing for me wrt Mintails is it explains the selling and suggests there is nothing nasty associated with Amerisur that is causing him to dispose of shares (always a worry that they are in the know) - we could also assume that he may keep an interest when enough capital is raised to save Mintails.

So IMO he isn't the villain here simply exercising his right, even very rich people don't have millions sitting around in bank accounts and need to sell assets occasionally.

https://www.businesslive.co.za/bd/companies/mining/2017-10-18-mintails-completes-restructuring-of-its-operations/
BumblingFool
Posts: 97
Off Topic
Opinion:No Opinion
Price:20.50
RE: Sells
Today 09:29
FnF unfortunately seems like a bit of a production figure warning woven into RNS for October. Guess this share just requires patience!
bakoven
Posts: 4,091
Off Topic
Opinion:No Opinion
Price:20.50
RE: RNS
Today 09:29
Seems to be some heavy 100k buying but fear not . . . Rex will be back to throw another spanner in the works.
rhodi
Posts: 2,665
Off Topic
Opinion:No Opinion
Price:20.50
Jtd
Today 08:55
Summed up very nicely and Mariposa time line looks very satisfactory. Onwards and upwards and technical data still to be further analysed. I will be purchasing more at this price as cannot see this low come end of November.
jointhedots
Posts: 1,317
Off Topic
Opinion:No Opinion
Price:20.25
RNS
Today 07:41
Mixed bag, Mariposa moves to month end - not surprising I suppose, P25 looks like it has helped identify the field boundary and the unexpected N sand oil is very good news for the anomaly which is one of our big hopes for additional production.

Side track back towards the more productive area delays things a couple of weeks but is not significant in the scheme of things.
Frank_N_Furter
Posts: 2,658
Off Topic
Opinion:No Opinion
Price:20.25
RE: Sells
Today 07:35
I'm afraid not.




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