Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
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
https://www.investegate.co.uk/anglo-african-ag-plc--aaap-/prn/update-on-the-proposed-reverse-takeover/20200923070000P8836/
This is definitely proving to be a slow burner.....but I am sure it will be worth the wait.
The important thing for me is that Comarco should now be seeing a material increase in revenues and profits. From the RNS:
"In the event that an extension to the loan agreement is not finalised and the Port Loan is not repaid, AAA has an option to acquire for a nominal sum the entire share capital of Touchwood Investments Limited. Touchwood Investment Limited’s major asset is a 4.74-acre area of land within the Comarco port. The Board believes that this option would be worth considerably more than the $1.3mn Port Loan itself.
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. "