The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Added a few more today.....
Looking forward to the next update knowing we have the comfort of a $12m asset if the loan to Comarco is not repaid and agreement for a way forward with the IPO is not found. However, I think this is extremely unlikely given the comments made by Mike a couple of weeks ago.
Will continue to buy at this price as and when funds allow.
https://www.nasdaq.com/articles/mozambique-lng-project-on-track-for-2024-output-despite-coronavirus-total-exec-2020-10-27
World Markets
Mozambique LNG project on track for 2024 output despite coronavirus -Total exec
Contributor
Jessica Jaganathan Reuters
Published
Oct 27, 2020 3:37AM EDT
A massive $20 billion liquefied natural gas (LNG) project in Mozambique is on track to produce its first cargo in 2024 despite coronavirus pandemic disruptions globally, an executive from the operator of the project said on Tuesday.
SINGAPORE, Oct 27 (Reuters) - A massive $20 billion liquefied natural gas (LNG) project in Mozambique is on track to produce its first cargo in 2024 despite coronavirus pandemic disruptions globally, an executive from the operator of the project said on Tuesday.
Construction at the Mozambique LNG project is under way, with the first cargo expected to be delivered on schedule in 2024, said Rajnish Goswami, general manager of LNG Marketing at French oil and gas major Total TOTF.PA.
"As of now, the focus is on engineering and procurement and much of this stuff can be done through remote work so ... we have been able to navigate the challenge of COVID pretty well and we are still maintaining the timeline of the project," Goswami said, speaking at the Annual LNG and Hydrogen Gas Markets Asia virtual conference during the Singapore International Energy Week.
Thanks
In last months update the virus was not mentioned as causing any particular problems for Comarco. There was only the following positive comment:
"In the meantime, the Comarco Port is seeing a pick-up in demand as anticipated, principally due to the commencement of operations for the Mozambique LNG project."
Latest Covid stats for Kenya. As the chart shows, the figures Mombasa do not appear to be a significant issue compared to other regions:
https://www.statista.com/statistics/1136519/cumulative-coronavirus-cases-in-kenya-by-county/
Any views on how COVID is affecting Kenya and the port itself?
https://www.energyvoice.com/oilandgas/africa/lng-africa/272842/mozambique-gas-summit-virtual/
Extract:
"Discussions will also be held on how projects are developing. The Mozambique LNG and Rovuma LNG projects will both involve major investments into the local business community over the coming years, with the Total-led project expected to invest $2.5 billion of work dedicated for local businesses, whilst creating more than 5,000 jobs during the construction phase of the project."
Where is the update from Simon Phillips.......................
Interesting article. Gives an idea of the importance of the LNG project on the whole of Mozambique:
https://www.londonstockexchange.com/news-article/market-news/mozambique-can-realize-full-benefits-of-natural/14724746
I see the contracts continue to be awarded on this huge project.
https://www.nsenergybusiness.com/news/siemens-energy-mozambique-lng-project/
About time Comarco gave further updates on the levels of business they currently have and expect going forward.
Simon Phillips was very bullish last year on the levels of work he expected:
https://www.comarcogroup.com/news/2019/proactive-interview/
Added a few more today as I still anticipate a significant rise in the share price when the RTO is finally confirmed.
Thanks for all your input here optimist13. The Faida tie up looks like a promising development.
Good to see that PI's views are taking into consideration. Thanks Andrew:
Andrew Monk
@AmonkMonkey
Replying to
@Optimist13
@ComarcoGroup
and 2 others
@ComarcoGroup
has been told #AAAP still working hard to complete
Just posted the following message on Twitter. Let's see if I receive a response:
Andrew Oliver
@Optimist13
#AAAP Anglo African Agriculture @ComarcoGroup
@AmonkMonkey
@DavidLenigas
@benchpressmike
Could do with a bit of news on the Comarco website. For a company looking to list on the Main Market in London, the silence is deafening.
Slightly smiling face
funny enough I have had a similar conversation recently regarding this and they agree
Mike, I have been invested here for almost 4 years now, and like yourself, am very positive about the future prospects for the combined operations of AAAP and Comarco.
Comarco have not updated their website or Twitter account with any news for months now, which does not help in raising the profile of the company. Any chance you can have a word with them!
As I have said before, genuinely if I was allowed to add more shares here I would, sadly I can't , that's how confident I am in the future here.
Don't forget in addition to my almost 30% holdings here, I also have the CLN i provided the company with.
I don't need to pump this, certainly won't be selling any shares in the short term but look through all the RNSs etc , what's not to get excited about
I see both Andrew Monk and Mike Joseph have posted messages in reply to a poster stating they expect/anticipate the share price to "multi-bag" from the current levels.
The fact that they have both made the comments leads me to believe we are getting closer to completing the RTO.
Added a few more today as I believe we will see a material increase in the share price when confirmation of the RTO is announced.
Think this tie-up could have positive implications for the RTO:
VSA CAPITAL ANNOUNCES STRATEGIC PARTNERSHIP WITH FAIDA INVESTMENT BANK IN KENYA
VSA Capital, the international investment banking and broking firm, has entered into a strategic partnership with Faida Investment Bank Limited, a Kenyan investment and advisory firm, headquartered in Nairobi, Kenya.
Faida Investment Bank provides securities trading services such as brokerage, portfolio creation and management, markets and institutional research, investment advisory, private equity placement and corporate finance advisory. The firm was founded in 1994 and is based in Nairobi, Kenya, with a licensed office in Kigali, Rwanda.
The partnership will enable both firms to leverage their broad range of advisory skills and deep knowledge of corporates and investors throughout Africa for the benefit of their respective client bases.
Andrew Monk, Chief Executive of VSA Capital commented “We are delighted with our new partnership with Faida that will make a real difference to the services we can offer our corporate clients and funders in Africa. The capabilities of VSA in London and Moshe Capital in Johannesburg will be enhanced by Faida’s market leading position in East Africa and give VSA Capital a greater presence in Africa than any other UK domestic broker. Combined with VSA’s office in Shanghai, it will create a formidable London-China-Africa axis that will be appealing to multinational clients operating in these regions.”
Rina Hicks, Chief Operations Officer of Faida Investment Bank commented: “Our partnership with VSA means that Faida and VSA will leverage our joint capabilities throughout Africa and particularly East Africa. We are excited about this partnership. At this crucial time, East African companies need access to capital and we believe that jointly engaging with global capital providers will positively contribute to greater access to capital as well as provide a wider range of innovative funding solutions.”
Thanks Mike!
I agree with Optimist13, always good to hear your views bigmj and you taking the time to post them.
Thanks for the confirmation Mike. I am sure many on here would normally have sold out before now if it wasn't for your very large holding and access to the directors of both companies.
Hi Guys,
Don't worry I am still keeping an eye on this board and checking in where I can,
Obviously I am very limited as to what I can say but I just want you all to know I remain 100% confident that this will come good here, its taking much longer than we would have I hoped but it will happen dont worry
Good luck guys, I look forward to chatting on here after news
To be honest its the involvement of Mike and his occasional comforting words that have kept me invested here. I think hes a genuine good guy and can be trusted.
Its still a waiting game but shouldnt be too long now.
Hopefully by the end of the year if they pull out all the stops, well get a deal and we can all look forward to a good return on our investment. I always knew it was a good longterm investment here...im just impatient to get things started and have something to get a bit excited about.
Lots to look forward to once things get going.
Rayofhope - the land held as security has been valued at $12m. From the 30 August 2108 RNS:
"Touchwood’s major asset is a 4.75-acre strip of land at the Comarco port in Mombasa, Kenya, which a recognised global real estate consultant has recently valued at US$12 million."
The delay to the RTO is very frustrating, but at least the Comarco Group is seeing an increasing level of revenues from both the port and marine services. The Mozambique LNG project should also add considerable revenues as the project develops.
Having Mike Joseph as the major shareholder gives me additional comfort that all shareholders will benefit from whatever form the RTO eventually takes.
Whilst the share price has dropped back, it is certainly not being driven by selling. Indeed the price drop after the last RNS was actioned without any trades. I am sure the price will rise back up very quickly once further news is provided.
I have been adding as and when funds allow and remain confident this investment will provide significant upside, albeit over a longer time period that originally envisaged.
Ive been invested here over a year now and have quite a large(for me) investment. That investment has decreased considerably in that time but im still patiently waiting and hoping for a decent return.
Not sure whats going on behind the scenes..im still hoping for the rto though as i think that will bring the biggest return.
My gut says its going to be ok but obviously every delay is dissapointing.
Well despite the wait it does seem the shares are in sticky hands and I also will continue to hold for the optimum returns.
Others may disagree, but I still have a gut feeling that there’s more to the Touchwood acreage being put up as collateral against loan non payment than meets the eye. Yet again we have an rns which devotes a lengthy para to what will happen in the event of loan default. Maybe it’s just to reassure shareholders they are being prudent or maybe it’s because it’s always been the plan for Comarco to cede Touchwood to AAA prior to the rto for some reason like maybe they need all the cash possible to expand capabilities for the Mozambique LNG work more than they need that piece of real estate at the moment. It’s value is $10m if I recall correctly from some way back rns so I’m just as happy either way, plus assuming the rto occurs they get Touchwood back anyway so it’s money for nothing and this is Africa after all. What do others think?
I am still totally relaxed here, I know the board of both companies here and am comfortable with my chunky investment