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I guess a good way to find out would be to try and buy some more ...
Probably not ....
Market-maker spreads widen during volatile market periods because of the increased risk of loss. They also widen for stocks that have a low trading volume, poor price visibility, or low liquidity.
I assumed there was a sell or sells on the NEX but if not then what does it mean to drop the bid so much without any trades?
The spread is now at almost 40% and the ask hasnt changed.
Could they be short of shares so trying to encourage sells and discourage buyers. All a bit confusing to me. Does anyone have an opinion on whats going on?
The MM's must be getting desperate dropping the bid price on zero trades. Funnily enough, they haven't dropped the offer price.
More news can't be far away..........
Messing around with the SP I wish they would increase the SP instead of lowering it all the time. One day I will look at this SP and hopefully on no news they will take this up to 1p
A company without debt is a very slow growing stagnant company. Borrowing is needed for expansion so im not worried as long as the debt is manageable and the revenue is sufficient, which im sure it will be going forward with the change of port status for import as well as export and all the new contracts we seem to be already getting, with more to come plus well placed to take a fair slice of the upcoming Anadarko action.
SP really taking off may be dependent to some extent on us getting a good piece of the $70 billion Anadarko investment but im sure its going to happen. I expect that tentative negotiations may have already have started.
Someone has managed to get a good trade on NEX. The next lot of news cannot be that far away, which should offer a lot more insight into the prospects for the Comarco RTO:
02/08/2019 12:53 406,804 0.487
This share works out for us all here because most of us have been patient for over a year now and it would be not good if we didn't see some form of profit back or even worst lose our investment
I don't think so. If you look at the detail on the company's website, they have 16 acres in total and a decent frontage. They may have to build a couple of additional warehouses if demand for the custom services takes off, but that will be a nice problem to have.
Yes optimist I definitely agree the contracts from Anadarko will be the turning point and not surprising as it’s massive the infrastructure work that will be commencing
Carrefour - that is probably why AAAP are exchanging shares at a discount to the net assets of Comarco.
In the results Comarco have stated that they expect the income streams to rise rapidly, so I would envisage the second half will be a whole lot different to the first half.
Also, a look at the assets they own, i.e ships, barges, etc, will also help facilitate significant increases in revenue. Revenues from the Marine Services Divisions were only $471k in the first half of the financial year, yet the value of the assets is $12.4m. A few contracts from Anadarko will transform the revenues from the Marine division.
The research notes from VSA Capital when they are released will give a much more detailed picture of where the company expects the revenue and profits will come from.
A bit more patience is required, but I feel confident it will be worth the wait.
It don’t make no sense to reverse into a company that has millions in losses so surely AAAP know with the new contracts coming in then this should change significantly to profit not losses
DShox - as I said in my post, the outlook is very positive, but Comarco still posted a loss of $3.4m in the first half of the year.
It would be good to have a figure on the additional revenues expected from the signing of the new Port contracts as this should make a material difference to the outlook for the second half of the year.
For me, the news that will really set this RTO alight will be the contracts awarded from the Anadarko LNG project in Mozambique. As was highlighted in the results yesterday, the total value of the project is estimated at $70 billion.
The half year report for the Comarco businesses does not make good reading from a balance sheet perspective, but the opportunity to make significant improvements in revenue and profit are very real with the recent developments.
The change to the Port status has already secured new contracts with additional revenues commencing from July and further contracts are due to be signed.
Given the onshore and offshore assets Comarco hold, they stand to be the recipient of significant contract awards from Anadarko.
AAAP are paying below NAV for the Comarco businesses. As new contracts are announced over the coming months, the price paid should prove to be very beneficial to existing shareholders.
MMS will play this down tomorrow. Good RNs and the price keeps falling.
I like this sentence from the AAAP report:
"With the current business performing soundly and the acquisition of the Comarco Group now signed and subject to closing I believe the outlook for the Company and its shareholders is exciting"
I read through both RNS and it looks very impressive to me the potential here.
Ok Thanks optimist
Carrefour - they are in the middle of an RTO, they aren't allowed to buy shares.
From the Comarco report:
"Anadarko has recently announced the Final Investment Decision (FID) in the “Area 1” of the Rovuma Basin in Mozambique. At $20 billion the FID is the largest Oil and Gas sanction ever made in Sub Saharan Africa. Comarco Group is one of the few marine operators in the region with the capacity and experience to take part in such large scale and specialised oil and gas marine projects and as such it is anticipated that Comarco Group will be competitive in the bidding for ongoing and upcoming tenders. It has been projected that the total infrastructure spend for the entire project will be in the region of $70 billion."
Optimist should the directors be buying more shares now? To follow Mike buying recently
the true value of the Port, an increase in Net Assets of $28 million, generated
Comarco Group half year report also released. Sounding very positive:
https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/comarco-group-interim-results/20190729160000PBB3D/
As announced on 10 June 2019, AAA has signed conditional share purchase agreements to acquire the entire share capital of a number of companies within the Comarco group of companies that are based in Kenya and engaged in the port and marine logistics business (the “Proposed Acquisition”). The announcement is available on the AAA website here. http://www.aaaplc.com/media/190610-AAA-RNS-Proposed-Acquisition-Final.pdf
Whilst the Proposed Acquisition remains subject to a number of conditions, AAA intends to continue to inform shareholders and investors of developments in Comarco Group.
The Proposed Acquisition, if completed, would result in current AAA shareholders having a minority interest (expected to be less than 5%) in the Enlarged Group and would constitute a Reverse Takeover ("RTO") under the Listing Rules. AAA and Comarco Group are continuing to work towards the successful completion of the RTO and a Share Registration Document is in the process of being prepared.
now released:
https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/aaa-interim-results/20190729160000P72FD/