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H howdlep, apologise for delayed reply. I'm a little busy of late & will decline for now to add my thoughts; however I have found the discussion on iii very interesting to follow & respect those inputs of Bowood & izzy bear(& your additions ofcourse too). With crude oil returning to $60 finally, copper sparkling & holding above $3 per lb, and iron ore holding steady around $60 ; tonne too, commodities/brokering/MGR looks the most promising its been for a few years. The rig delivery news still we await, but Bowood on iii, makes an interesting mention recently that perhaps it'll appear only in a pre-end-of-year-close statement(& will then feature in next year's June Results)
it would be good if, in addition to comments here and on a d v f n, the likes of davethechef, knicol46, Dshox, Perr_is_amazing et al could add their considered thoughts on i i i. It would certainly add greatly to the debate.
'Norwegian owner, Mosvold Shipping, placed an order for two firm and two optional Capes (180,000 dwt) at Jiangsu New YZJ, in China for an undisclosed price and delivery set in 2019 � 2020. '
Good to see H1 mineral exports increasing from Iran in H1. Good news for our 2.5% investment (with a further 5% option) in the GKC copper mine and MGR commodity trading:- https://financialtribune.com/sites/default/files/field/image/17january/no_888.jpg
Yes I am looking for the bid to move up to 14p shortly. Hopefully then, the spread will narrow as volume picks up. Next real step for me though, is a move towards MA200 @ circa 18p. Then momentum will really pickup.
Hefty jump-up on the Ask now, after earlier buy;14.70p. although still 13p to sell. So tight are the shares, that it has a tendency to rise on each buy.
Yes indeed and it underlines the importance of the build to Yangzijiang, as it opened up huge new opportunities for them. Worth noting also, that the Le Tourneau build was delayed until the completion of the new yard. The $170m order is with Keppel FELs, (see Final results to 31/12/15) "which has built and delivered almost half of the world's jack up and semi-submersibles in the past decade, due to the importance and uniqueness of the Le Tourneau design. Moreover, in the current new build market, there are no Le Tourneaus that have been built on speculation. All have been ordered for clients and by clients." We are now 'preparing to deliver the rig' and await that all important confirmation RNS.
http://yangzijiang-cn.listedcompany.com/newsroom/20121203_180027_BS6_2A90A43297B6710C48257AC900328E87.1.pdf Sep 2017 last update.. 'preparing to deliver the rig'
Copper price up 10% in a month.. great news for Ameds 2.5% stake in a producing copper mine in Iran!
then we add on another 100% to this to take us to 40p we would still be below the net asset amount of AMED at last report.. price reached just over 41p Dec 2016 current mcap around �4.6m net assets at last report $17.7m
Good insight by Bowood on iii(I'm sure he won't mind posting) The liquid assets he mentions would be the Cash in the bank, the $800,000 loan and interest payable. Plus not mentioned below is the copper mine investment/potential. 'Yes Izzy I also feel very comfortable here, as you say there are liquid assets and investments and no debt which together effectively account for the low MC of less than �5m at 15p without putting any value whatsoever on the yard and the rig. In other words you could forget all about the rig/yard and there would still be a fantastic business with good earning and growth potential. But of course there is value in the rig and if this has a value of �15m it would equate to another 45p a share. We are massively undervalued and with little risk and I will look to add a few more. Well before the end of the year I feel we will get an RNS that will result in a rerate and a new level to move forward from. I think the region AMED operates in can open up tremendous growth opportunities'.
I read a while back that it was normal for a client to pay for the build costs up front, then when the rig was complete and standard international checks undertaken, the client would pay circa 90% of the balance. The remaining 10% would be exchanged on delivery. Now I cannot say whether that has been the case with Explorer-1, as details are very much confidential. However, we do know that the client was arranging finance and that the wording of the Interims was bullish, re the rig being prepared for delivery. That is suggestive of both client finance and crucially, employment of the rig being in place. I expect to see a further pickup in volume next week, as we test and surpass the MA200 at circa 18p, Once momentum builds, this will move very quickly as we know.
the main news awaited is the Explorer 1 rig - 'preparing to deliver the rig' Sep 2017 update. Would assume this means the rig is on its way to the client - cash payment awaits upon handover.
Hi, What news are we waiting for?
climbed similar movement Sep 2016 to Jan 2017 similar pricing levels to current (reached 41p)
wait for it
for just 20k stock
last traded +15%
just await positive news - will be unable to buy
apply market order - will execute next in queue at best price or apply limit or fill/kill order - try 16p may execute next in queue or try lower value x2 trades
above offer
3 now blue, 1 to go :)
Long way to goto 100p.. that's what I think it could get to with rig sold.. it was at that level after placing at 100p a few years back.. admin costs very low on Amed
100% premium to current price would still be less
2 now blue, 2 to go