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Intl Min&in Crp Share Chat (IMIC)



Share Price: 25.75Bid: 25.50Ask: 26.00Change: 0.00 (0.00%)No Movement on Intl Min&in Crp
Spread: 0.50Spread as %: 1.96%Open: 25.75High: 25.75Low: 25.75Yesterday’s Close: 25.75



Share Discussion for Intl Min&in Crp (IMIC)


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seannyday
Posts: 196
Off Topic
Opinion:No Opinion
Price:26.00
any idea how to trade the bonds?
11 Jun '14
does anyone know how to buy or sell the Afferro convertible bonds through the matched bargain system? thanks
 
seannyday
Posts: 196
Off Topic
Opinion:No Opinion
Price:26.00
RE: What is Xavier Neil doing in IM
11 Jun '14
Thanks Gheebhee. what do you think of the Kuwait link into New? Is Xavier out of money??
GheeBhee
Posts: 566
Off Topic
Opinion:No Opinion
Price:26.00
View Thread (2)
RE: What is Xavier Neil doing in IM..
6 Jun '14
Bailing out, probably, if he can find someone to buy his shares. IMIC backed the losers in the Sundance stand-off. http://www.sundanceresources.com.au/irm/Company/ShowPage.aspx/PDFs/2796-93770933/MotaEngilAfricaAppointedtoBuildPortandRail
In retrospect this was indicated when the debt was crystalised by Niel Infrastructues and Neil Petroleum introduced the Kuwait shenanigans into their RTO of NEW. Will Smith briefed an almost empty room recently that IMIC ought to change its name to Cameroon Mining because it certainly wasn't International Infrastructures. Anyway, unless IMIC pull a link to the Government out of the hat as per Guinea and Liberia (though neither of those seem to have come to anything) you'd have to ask just what it is that AIOG brings to the party. IMIC is now AFF by another name but with debt not cash but no longer stranded.
seannyday
Posts: 196
Off Topic
Opinion:No Opinion
Price:26.00
View Thread (2)
What is Xavier Neil doing in IMIC
4 Jun '14
So Neil Infrastructure has taken 27% of IMIC. I guess IMIC is now going to be bought out? Or He's about to add a few billion more to his $11billion. You could write a film about this company. Mysteriously connected swiss liberian businessmen found Afren, the found an investment company which takes over a mining company using its own cash.. Enter the Chinese, various banks with bonds and loan facilities, then enter the big boys.. Me thinks something big is cooking either way
GheeBhee
Posts: 566
Observation
Opinion:No Opinion
Price:27.75
UK Cameroon Forum
5 May '14
GheeBhee
Posts: 566
Observation
Opinion:No Opinion
Price:28.25
View Thread (3)
RE: RE: IS IMIC WORTH SOMETHING
23 Apr '14
That Sundance decision is scheduled for the June Quarter (Apr/May/Jun)

http://www.asx.com.au/asxpdf/20140422/pdf/42p3t7m17xt1z1.pdf
GheeBhee
Posts: 566
Observation
Opinion:No Opinion
Price:28.75
View Thread (3)
RE: RE: IS IMIC WORTH SOMETHING
15 Apr '14
Do you have a view on why Niel Infrastructure (a private company created in Sep 2013) crystalised its debt at this time? There seem to me to be two options. First, they see IMIC going bust before 2016 and intend to sell their shares asap to recover as much of their money as possible. The remaining uncrystalised debt is a hedge in this scenario. Second, they know that IMIC/AIOG is about to benefit from the announcement of the decision on the Mbalam Convention infrastructure contract and want to have the sort of influence on decision making that comes with holding nearly 30% of the shares as the largest single holder. (I take it that their interest is in the infrastructure because there's another Niel Company that deals with mining). If the first, then it won't stop at 12p. If the second then your prediction is doomed. Either way, the next couple of months are going to be quite interesting.
traderton
Posts: 191
Premium Chat Member
Observation
Opinion:No Opinion
Price:28.75
View Thread (3)
RE: IS IMIC WORTH SOMETHING
15 Apr '14
I was one of the people who noticed that the 40p convertible loan note was being valued at almost nothing by the market. After the acquisition was announced Afferro was still trading at 74p even though IMIC were offering 80p plus the 40p loan note.

A quick look told me that IMIC wasn't certain to be bankrupt before buying back the loan note and so I bought AFF at 74p. I had a chance to sell at 86p even when the acquisition was announced as firm. I stuck with it and received 80p, a gain of 8%. (I'm only a cheapskate trader). If IMIC survives to 2015 I will either get IMIC shares or a 56p cash payment. That means I paid 8p to receive 56p. It's even better than that if you net off the 6p gain I made so 56p for nothing.

I have been assuming that other investors thought IMIC would go bust, but I'm happy to have the 7 to 1 on that bet (ignoring inflation) , especially after the helpful post from Gheebhee today. Net of gain it is more like

I have to say I wouldn't be paying 28p today for an IMIC share (I think it may drop to 12p before appreciating substantially, based on Elliott waves).

It would be nice to see a market made in the loan note though, as that would tell me how much of a cheapskate I really am. At my age I don't buy green bananas all that much.
GheeBhee
Posts: 566
Observation
Opinion:No Opinion
Price:28.75
View Thread (3)
RE: IMIC
5 Apr '14
Wandering around LSE posting links to investingsidekick is one way of passing the time I suppose. As for the content, it seems to miss the fact that IMIC ceased to be an investment company when it acquired Afferro and was then readmitted to AIM as a mining company. I'm no advocate of IMIC or a supporter of the two front men covering for AIOG, believe me, but the analysis seems to be shallow in the extreme. Guinea may be a nightmare and Liberia a dead end not worth mentioning but with the Sundance Cameroon Port and Infrastructure competition down to the final two and IMIC/AIOG on one (at least) of the teams, I would have thought the former AFF licences might be worth a bob or two. Then there's the contents of M. Gueant's and Mr Cooper's contact books to consider....



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