Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Dave agree for sure management need to do better in communicating... 2.8m usd in cash is a lot..! Plus no debt.. leaves all their investments valued at about 2m dollars.. shiny newish rig, mgr plus Iran copper mine...! Come on board sell your story!!
Today�s Finals mentions �a pipe manufacturing facility has been added� etc which I believe relates to the JV of last August and hasn�t been included in these figures i.e their 19% interest of revenue(to be shown in our September Interims one suspects) The JV, links below, clearly states this in Financial Effects. hxxp://infopub.sgx.com/FileOpen/Announcement_YZCK-Fin.ashx?App=Announcement&FileID=468166 The Board of Directors (the �Board�) of Yangzijiang Shipbuilding (Holdings) Ltd. (�YZJ� or the �Company�) is pleased to announce that its 79.6%-owned subsidiary, Jiangsu Yangzijiang Offshore Engineering Co., Ltd. (�JYOECO�) has entered into an agreement with strategic partners to establish a joint venture company in Jiangsu Taicang to be mainly involved in steel structure fabrication of steel pipe pile for international seas, port, bridge and offshore projects. c. JYCMECO would leverage on the expertise of joint venture partners to bring an additional source of income for the Company. I d. JYCMECO will be utilising the Company�s existing production capacity and facilities in Jiangsu, Taicang, to generate certain amount of leasing income for the Company. 4. Financial Effects The above 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. Save for their respective shareholdings
It is a little disappointing & underwhelming, these results especially the continued delay in selling the rig & MGR. Amed aren�t great communicators! However, I've stated ever since the RNS in December 2016, that I believed they were looking for the best price purchaser, aided by the oil price/offshore rig recovery, rather than the original purchaser, who seemed to be seeking further finance, for ages. It's a huge amount, which appeared beyond the customer seeker further finance, and YZJ don't intend to sell it below what they consider a suitable price for the high spec' rig. Re MGR, their website has not been updated for months now, under Investments. I just wonder whether they are considering selling or reducing their 49% interest, as to date, it doesn't appear to be making a great deal, especially since the loans have been repaid too. Their cash position is robust and substantial for such a small MC, and they have no debt, and substantial tightly held shareholders and contacts. I continue to hold for the rig sale and further projects, possibly LNG related.
Agree, don’t understand it? And you have to wait some 6-12months for an RNS. This is one company that seems to have no accountability and take shareholders for granted. The large Quatari shareholders need to wake up and question these guys and call an egm!
'YZJ Offshore designs and constructs offshore marine vessels for the oil and gas industries. As such, its performance is dependent on continuing demand for the types of vessels it constructs. The value of the vessels it designs and constructs are measured in the hundreds of millions of dollars and more. YZJ Offshore�s ability to construct such vessels is dependent on the ability to obtain credit to fund the builds. YZJ Offshore also has the risk that following the completion of vessels, any purchaser is not able to make the payment (typically 90% of the total price of the vessel) to take delivery. In such cases, possession of the vessels is taken, and a buyer or lessee for the vessels has to be found. The ability to resell or lease the vessels is dependent on the nature of the vessels and the demand for the vessels at the time of completion, which may be very different from when the order to build the vessels was placed.'
Shiny new rig for sale to anyone that wants to start drilling in the water. Maybe they should think about hiring it out on a day rate At least it was completed--to a spec of some sort. There is always 'hope'
Loan notes totalling 2.22m usd were repaid to Amedeo in April and May this year ( post period end subsequent events). They had cash of 915m usd in the bank. Admins expenses for the year were 620k usd.. so assuming half that for current year of 310k.. 2.22 + 0.915 - 0.31 = 2.825m usd in cash and no liabilities.. 2.1m gbp at current exchange rates.
2m gbp in cash and no debt now. Loan notes paid back.. let’s see what their new asset could be.
fairly huge swings both ways with hardly any substance ever. I would have been better off putting a ship in a bottle than my money into this one. At least i would have matchsticks for my eyes to keep me awake while watching for this to come good.
Well the Finals ending 31st December 2015 weren't released until 14 June 2016, so I suppose they come out anytime this month!
the figures will be for the up to 31 Dec 2017 period - no reason to delay them. The wording used for the rig status will be the key. Holding AMED you cant really go wrong just a case of when the rig is sold will be AMEDs day. good luck all
Figures this week? However if they leave them to the end of the month it could be because they want to provide the latest developments at the yard. With a mc equal to cash, near cash, the investment in the copper mines and the investment in the yard in for nothing the real value could be revealed in the coming weeks.
bank holiday Monday Rig status update coming. Net assets at last report: $17.7m (�13m) Current mcap: around �4.5m Share Price year high: 22.5p (May 2017) Well under net asset value � good luck all
https://splash247.com/yasa-shipping-orders-tanker-quartet-hyundai-mipo/
30 May 2017 � for period up to 31 Dec 2016 YZJ Offshore has been fabricating blocks for container ships and gas carrier vessels. As such it generated revenues by employing its berthing capacity and modules for liquefied natural gas tanks. It is also exploring the building of other types of modules and other vessels. 26 Sep 2017 � for period up to 30 June 2017 The yard is preparing to deliver the rig. 29 May 2018 estimated � awaiting results for period up to 31 Dec 2017 Interesting.. Delivery year: 2018, Flag: Panama http://images.rigzone.com/data/offshore_drilling_rigs/1820/Jackup/Explorer_I_Limited/offshore_drilling_rigs/385/Semisub/Transocean_Ltd/Jack_Bates Net assets at last report: $17.7m (�13m) Current mcap: around �4.5m Share Price year high: 22.5p (May 2017) Well under net asset value � good luck all
"Arista Shipping has signed a Letter of Intent with Yangzijiang Shipbuilding (YZJ) to build a series of up to 20 bulk carriers to the new design.""
We can expect the results this coming week and hopefully we will have more news than just the results. Oil price on the move and good news expected on the rig which I feel is pivotal for the future of the company.
And of course they still have a robust healthy cash position & are still owed money from another original loan. Also the JV of August(not RNS's) re: their offshore yard, although revenue of work won't show in these Finals, increased activity, may be mentioned in September Interims. Crude well above $70 hopefully will encourage further rig building orders with the high-spec' jack-up rigs back in demand & yard consolidation occurring. Plus our yard may well participate in LNG related project, as I've mentioned previously. We're supported by China's most profitable shipyard(non state owned) The Finals should eloborate progress in greater detail.
Knicol46 , you failed to mention Ameds Copper mine investment, and the 800k loan they made which paying a good interest rate, So yes, way undervalued
30 May 2017 � for period up to 31 Dec 2016 During the year under review, Jiangsu Yangzijiang Offshore Engineering Co. Ltd ("YZJ Offshore") completed its first order, a Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig ("Explorer 1"), pending final delivery checks. The rig has yet to be delivered as the purchaser of Explorer 1 is in the process of securing financing and employment for the rig. In the meantime, signs of improvement, however, are evident as YZJ Offshore has had credible enquiries including interest in Explorer 1. In the meantime, YZJ offshore has been utilising its facilities to provide berthing capacity and build modules for LNG vessels. YZJ Offshore has been fabricating blocks for container ships and gas carrier vessels. As such it generated revenues by employing its berthing capacity and modules for liquefied natural gas tanks. It is also exploring the building of other types of modules and other vessels. 26 Sep 2017 � for period up to 30 June 2017 The yard is preparing to deliver the rig. 29 May 2018 estimated � awaiting results for period up to 31 Dec 2017 Rig now delivered? Delivery year: 2018, Flag: Panama http://images.rigzone.com/data/offshore_drilling_rigs/1820/Jackup/Explorer_I_Limited/offshore_drilling_rigs/385/Semisub/Transocean_Ltd/Jack_Bates Net assets at last report: $17.7m Current mcap: around �4.5m Share Price year high: 22.5p (May 2017) Well undervalue � good luck all
they paid a premium to buy from market best due to volume - and also must know they will make a good return upon selling (even at discount to market price)
Just 15k available @ 15.35p 50k delayed buy just gone through