Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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As we all know, the current share is considerably undervalued compared to the last reported NAV of circa 40p. The top four shareholders account for over 80% of the shares in issue and remain totally supportive. As I have previously stated, Mena bought in at 100p and the other three, including Qatar Investment Corporation, at 50p. These figures are adjusted post the 100:1 consolidation. All four are invested for the huge big ticket orders which I believe will follow in due course. A placing would only be needed to fund the build costs of a new rig/shipping order. That said, I would fully expect QIC to maintain its pecentage shareholding. Given the expected interest in a larger JV company, I would also expect the placing to be at a large premium to the current price. Note, the RNS of a new order would in my opinion see the share price back over 100p comfortably. Hence the easy access to new funds when required. As the demand for new rigs improves, now is the time to be buying/accumulating shares in AMED in my opinion.
Net assets at last report: $17.7m (£13.2m). Shares in issue: low 33m (of which 66% not in public hands - increased to 80% Nov 2017). NAV: around 40p (£13.2m/33m shares). Current SP: 12p. Explorer 1 Rig completed/tested awaiting customer payment. Even assuming a placing to finance a new deal whilst awaiting payment.. adds to the net asset value of AMED may be at a premium due to the low shares in issue and current undervalue (lowest will be 10p) assuming a 50% dilution takes us up to only 50M shares in issue and the NAV would then be around 26.4p (£13.2m/50M) + the value of the cash/new deal raised If SP increased 100% it would still be well below the NAV lol
tick up(s) ahead
to 80% as at 6 November 2017.. http://www.amedeoresources.com/en/content/8-investor-information/21-significant-shareholders
Net assets at last report: $17.7m (£13.2m). Shares in issue: low 33m (of which 66% not in public hands). NAV: around 40p (£13.2m/33m shares). Current SP: 12p. Explorer 1 Rig completed/tested awaiting customer payment. Even assuming a placing to finance a new deal whilst awaiting payment.. adds to the net asset value of AMED may be at a premium due to the low shares in issue and current undervalue assuming a 50% dilution takes us up to only 50M shares in issue and the NAV would then be around 26.4p (£13.2m/50M) + the value of the cash/new deal raised If SP increased 100% it would still be well below the NAV lol
Yes, YZJ Offshore is the yard belonging to YZJ Offshore Engineering Pte Ltd, (“YZJ JV”). We have a 19% indirect interest in it. That value is reflected in the nett asset value, as detailed in the Interims and Finals. Currently, that NAV is circa 41p. Remember, in addition to the yard, Amedeo also have a 49% and 2.5% interests in MGR Resources and GKC respectively. MGR are also a loan debtor (asset), again as detailed in those reports.
Amedeo have a 19% indirect interest in YZJ Offshore, via our JV with Yangzijiang Shipbuilding. This is detailed in the investment section of our company website, which can be viewed here http://www.amedeoresources.com/en/content/7-investments/17-yzj-offshore Amedeo only benefits directly in new orders, if they are won by our JV yard, or receive other overspill work. Our investment yard relates to Jiangsu Yangzijiang Offshore Engineering Co., Ltd., details of which can be viewed here http://www.yzjship.com/en/company.asp?sid=11 Obviously, Yangzijiang have not always disclosed where new orders will be built, as they form part of their future order book. So it would be reasonable to state that further information will be disclosed in due course. From a general market point of view, this latest order win is a clear reflection of a cycle turn, as their order book is huge. Note, new orders won today, are likely to be delivered in 12-24 months time. Having a market leading partner like Yangzijiang, is huge for Amedeo. However, Yangzijiang are very much the junior partner when building rigs. We have the skillset and the contacts. Now the jv needs a new, big ticket order, which is why our top four shareholders are fully supportive investors. PI's seem pre occupied by the delivery of Explorer-1, but those new orders and the development of MGR Resources, as a commodity broker into Asia, are equally important. We await an update shortly. This is a time to be accumulating. It is a Super opportunity.
Dshox Maybe they are waiting for the ink to dry before releasing news and will include this is a bigger update on the 21st December. The fact we haven't had a big rise today is frustrating though. AIMHO, Bickmaster.
Fantastic news. Shows the market recognise YZJ as one of the key players in their area. Seems like a lot of big news and AMED still only had a sub £4m market cap. Hopefully we get a nice RNS by the end of the week.
Large salary etc. As long as they keep you.unformed what's going on. The frustration is this is supposed to be an investment yet it appears all the firm are interested In internal affairs with shareholders treated as mushrooms. I'm all for paying someone if they do a good job but these lot just get richer and DO NOT MAKE ANY SORT OF RETURNS FOR YEARS AND YEARS ON END
Oh and to emphasise the folly of trying to (t) trade this stock:- Today 15/12 someone sold 40,241 @ 10.8p this after yesterday, the 14/12:- buying 12,056 @ 12.4p buying 28.185 @ 12.4p As I said in the previous post, someone's loss is another persons opportunity.
Nearly all AIM companies - directors make large salaries at the expense of shareholders. AMED is no different.
AMED was supposed to be an investment for LEG yet Karim manages to end up on the AMED BOD with a 60k salary for 4 yrs and counting.....in meantime price slides to 20% value for LEG holders. Karim is 240k richer. Sits on BOD at AMED in silence
I have only lost a modest amount here circa 4k and I got out of leg with a small profit for a change....but it's the pain of the lies and missed opportunity that grinds me. I don't get how it just goes on regardless and these guys are rich from it yet make no returns
I would actually be destroyed emotionally if that were to happen. Seems highly unlikely though based on the last 5 years performance. Sometimes I can't understand how it's only me that seems to be angry / at a loss with the performance of these firms. Everyone else seems to just be glass half full regardless of what's going on or not as case may be. Maybe it's just me eh
Personally, I always like it when a former shareholder continues to post on a bulletin board, as it often means they still have a personal attachment to the stock. Whether it be the pain of a loss or the desire to get back in lower, they know that AMED's illiquidity means that any good news would ensure a re rating above its last reported NAV of circa 41p. So superlucky79, do you dread a 7am news story, as it may just destroy your Christmas? :-) Time will tell of course. Your sell may well be opportune, but then it would represent a greater opportunity for others to accumulate. Perhaps Karim has his finger and his LEG on the buy button?
Everyone else by the look of it. Well those who are not 90pct plus underwater anyway. Another failure on AIM that continues to provide BOD with huge payment for failing shareholders. Someone should have a word with z Karim, what is he actually employed to do here I don't see anything from him. No updates no interviews no investor relations at all. Seem happy plodding along getting paid.
not a problem - you sold anyhow
Lost 3 million due to asset depreciation . Bought 2.5pct of a copper mining firm for 500k Lent 800k to loss making MGR resources Paid BOD 150k End.
When your hopes are pinned on an update coming out the same date as it did before. Sad isn't it. We should all be well I formed by the BOD who are paid 100k a year......exactly what is going on. Glad to be out.
YZJ update 21 Dec 2015 RNS 21 Dec 2016 RNS 21 Dec 2017 RNS?
Most likely a leak. A leak in the corroding unsold 3year old rig that the BOD maintains silence on.