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The Singaporean yards are going to get stronger still. Good news for our JV yard:- https://www.bassoe.no/singapore-reclaiming-the-throne-in-offshore-shipbuilding/news/66/
It's been muted by the Chairman of Yangzijiang Shipbuilding, Ren Yuanlin(& for those subsidiary yards, one of which is ours) that Clean Energy Vessels/LNG will be one of their primary focus for the future. The below links all mention this and particularly the first link which states our Offshore Yard, from August 2015. https://www.nextinsight.biz/index.php/story-archive-mainmenu-60/927-2015/10190-yangzijiang-defies-headwinds-to-grow-capacity-orders-and-output. And December 2015 http://www.straitstimes.com/business/companies-markets/yangzijiang-executive-chairman-steers-firm-through-rough-waters. And February 2016 http://www.businesstimes.com.sg/companies-markets/yangzijiang-shipbuildings-q4-profit-plunges-93. So its just a matter of time, like your link this month Knicol46, suggests. Should be lucrative for AMED, as part 19% interest. And there's the JV our offshore yard undertook from this August, revenues should show in next year's results. But as we know, larger developments, take considerable time, to generate payback. 'Next year Rodder's!!!
That's hugely significant, that latest link, re: past year's mentions from YZJ's Chairman Ren Yuanlin on future interests. May well involve our Offshore yard re LNG. I'll add further soon. Well found Knicol46
If nothing else this should have a positive impact on AMED - Rigs or the overflow of work.
Nov 9 (Reuters) - Yangzijiang Shipbuilding Holdings Ltd YAZG.SI: * Qtrly net profit attributable to equity holders RMB‍​866 million versus RMB281.2 million * Qtrly revenue RMB4.38 billion versus RMB3.88 bln‍​ * ‍Year-to-date new orders of 59 vessels with total value of US$1.6 billion, compared with US$823 million from 2016​‍​
Very bullish for AMED and note the 2018 jackup contract forecast:- https://www.bassoe.no/zombie-offshore-rigs-don-t-threaten-rig-supply/news/64/
That JYCMECO jv agreement. As the " investment will not have any significant impact on the earnings per share and net tangible assets per share of the YZJ Group for the current financial year ending 31 December 2017", that may well be why an RNS has not as yet been issued. However, we are very close to 2018, so expect this news to be issued shortly:- http://yangzijiang-cn.listedcompany.com/newsroom/20170823_172111_NULL_WIJ7U8M9R2T71WRS.1.pdf
anything that adds value for the parent company YZJ shipbuilding would give added support to YZJ offshore - cash and/or orders - awaiting newsflow
I doubt that you or anyone here have seen blue for 4 or 5 years. Shame really. I just dont like to see people making up their own news. My belief is there is no customer and they are desperately looking for one. My opinion os if they sell the rig it will be deeply discounted and AMED do not care by the way.
If you like...i dont think it prevents me from having a POV. Im simply stating my experiences with this firm. I brought in a long time ago before consolidation. I. Just adding another perspectuve to the siituation. Sorry thst you dont agree or like it. I hope that your investment is not too far underwater.
With a design life of approx 25 years, time is running out before the rig corrodes away in the chinese salt water. 10% already wasted. Id be after a huge discount if i was the buyer. I bet there is no buyer by the way... AMED have done a shocking job of updating investors. Hoe do they get away with it seriously.
They dont care for investors wake up. Who builds a rig without a real sales order ? I know ill spend millions building a rig that doesnt have a buyer. I will build it to someones specification but hopefully be able to sell it to just anyone. If they manahe to get the rig away it wont be at huge profit. Just my two cents but who the hell goes and builds something like thos for the first time....withoutout a watertight sales order ? BOD happy to take big salary in thw meantime. Sickening again ..another AIM lifestyle share. By the way 2.5% of a copper mine probably aint gonna help but keep dreamibg hey. After all the men in charge here have excdllent track records at delivering value for investors....NOT
Yes I would agree. AMED need a PR offensive, as there is a developing story to be told. Unfortunately, from a company and a NOMAD point of view, there isn't a legal requirement to release RNS', unless the information is immediately price sensitive. That said, from a shareholder point of view, it is information that will create value in due course and so, therefore, one would like our Board to convey that story. Often there may be reasons why details need to remain confidential, as deals may depend on that. Certainly, AMED can never be accused of leaking information, so we have to wait patiently for newsflow. Hopefully, that will forthcoming in next months trading update. However, I would expect positive news re the rig sale and employment at any point. Once the jv is cash rich, the opportunities increase enormously. So it is well worth considering our stated investment policy:- "The investment policy does not preclude investment in other sectors. The Company may acquire controlling or non-controlling stakes and it may be an active or a passive investor. Investments may be either quoted or unquoted and may be in companies, partnerships, joint ventures or direct interests in projects. The investment policy does not preclude the Company making an investment which may be deemed to be a reverse takeover under the AIM Rules. Any transaction constituting a reverse takeover under the AIM Rules will be subject to shareholder approval." Being a debt free company, with a NAV of circa 41p, the company remain ideally positioned to develop its business model. This is a time to be developing a position in AMED imo.
An interesting find DTC. Further background information:- http://www.offshorewind.biz/2017/08/23/jiangsu-yangzijiang-sets-sights-on-offshore-structures/ Clearly a lot going on. More news to follow!
The JV Amedeo choose not to inform us about in the Interims(!?!) has completed it's first work http://www.yzjship.com/en/news_info.asp?id=159 As for the rig.....we await news...
On disposal of the Rig it will be interesting to see if AMED retain their investment in the yard j/v or sell and invest the proceeds elsewhere. Any sale will highlight the value of the investment in the j/v $10m - $15m which is not currently factored into the share price which is pretty well covered by cash, loans to MGR and the investment in the copper mine.
In each of the last two years we have had an update in Mid December, and following the Interims when we were told that the Rig was being prepared to be delivered (not for delivery) I feel we can expect the positive news we are all waiting for. Anyone considering a top up should IMO seek to do it shortly as once a sale of the Rig is out there will be little hope of buying in much below 30p. Also there could be positive news about MGR and the copper investment. GLA
Interesting article on recovering appetite for deep-water drilling https://oilprice.com/Energy/Energy-General/The-Return-Of-Deepwater-Oil.html Taken from above link 'That feeling of optimism is substantiated, there's a lot happening," Horacio Cuenca, an oil industry analyst in Rio with Wood Mackenzie, told Reuters. "It's like night and day compared to a year ago,
If you will excuse the pun, Amedeo has run a very tight ship, so there is very little in the way of leaks or idle speculation. The exception of course, was the 5 February 2014 RNS, re the prospect of that US$1.7 billion order "to build two semi-submersible drilling platforms for Primepoint Drilling PTE Ltd. In addition, an option on two additional semi-submersible drilling platforms has also been agreed subject to conditions precedent." Note, the use of the words "subject to conditions precedent". That is why we are all closely following market conditions, in relation to the oil price, rig scrappage, Baltic Dry Index and in particular sector consolidation, Put simply, the big players are getting bigger and the weak are falling by the wayside. Rig scrappage still has some way to go but clients are now ordering ready for 18-36 months time. Amedeo Resources and our JV with Yangzijiang, are well positioned to benefit. We have the yard, the skilsset and global contacts. Now we just need a new order, deliver Explorer-1 and gain from MGR's commodity trading. I have no doubts that within 12 months we will have taken up our 5 year GKC copper option to purchase a further 5% for US$2m. Now is the time to be investing/accumulating AMED imo.
We know the assets/MGR/copper mine investment/cash & outstanding loan owned, must be worth a lot greater than our present sp/mkt capt, and with no debt I continue to hold with comfortable assurance. Looking back through RNS's several years back I note especially that of 17 July 2012 re the land of the Offshore yard, acquired by our JV partners. I state 'total cost of the Land will be $65 million' Wow! That an interesting perspective, alone.