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Certainly by the end of the month. With MGR having repaid their borrowing there is now more cash than the MC
MGR repaying the loans suggests they no longer need the funds which is encouraging. The yard made a profit in the second half of last year and may have done that s in the last couple of months. We could be in line for some very interesting numbers and must remember the MC is only £3.5m
Approximately two weeks to Interims. (last year 26th) Hopefully, positive updates on MGR, the Offshore Yard, copper investment & the rig sale latest. It's been desparetly quiet!
Just realised these were the original buyers. Forget that.
http://www.prinsipodc.com/wp-content/uploads/2015/05/factsheet-040615.pdf
not sure if they are an actual operating company, connected to Amed or advertising the rig.
:http://www.prinsipodc.com/vision-values/
price will rocket upon confirmed sale - now overdue
Very recent, positive articles, especially the former, on increased appetite for rig demand{building)
https://www.offshoreenergytoday.com/total-hires-borrs-jack-up-demand-growing-driller-says/
https://splash247.com/this-is-why-the-world-needs-more-harsh-environment-semi-submersible-rigs/
One can only imagine our offshore yard continue to pursue, negotiate the best deal for our high-spec jack-up rig.
Should hear more next month's Interims
Agreed Ismalia; plus the JV of the 23rd August i.e, steel pipe fabrication, which our offshore yard is involved in, should show revenue for the first half of this year too. The continuing rig sale pending situation, is becoming tiresome. But then the minuscule MC we are at, reflects that I guess. Interims due sometime next month, hopefully will reveal positivity on above.
I still feel there will be an improvement in the trading performance of the yard which in the second half of last year turned in a good profit with MGR also improving. With cash in excess of the mc and no debt and assets of about 50p a share there is ample scope for a re rate IMO.
Positive demand for Jack-up rigs on the increase hxxps://www.offshoreenergytoday.com/worlds-largest-jack-up-operator-says-demand-growing/
But WHEN is OUR rig to be sold!?!
Mid September should see these released. We know the assets are there with cash alone of more than the current sp and news of the rig could be positive. However what I will be looking for is to see if the performance of the second half of last year has continued into the first half when the yard made nearly 500m. If it has and it continues throughout the rest of the year then we could see some earnings per share. Also MGR made progress in the second half and this may have continued. If we do see that trading has improved then this coupled with the asset backing should see the sp nearer the 20p.
https://www.businesstimes.com.sg/companies-markets/yangzijiangs-q2-net-profit-up-38-to-9949m-yuan
Seems time is ripe if our offshore yard are involved in a LNG project; as has been reported by YZJ for our yard, sometime ago.
https://uk.reuters.com/article/uk-lng-supply-analysis/new-wave-of-mega-lng-projects-is-approaching-idUKKBN1KR156
Interims due sometime next month
Perhaps but a share is only worth what it is worth and leaving underperforming money and being a stale bull is not being a sencible investor IMO. If somebody wanted control of this company which also has huge tax losses they could probably offer about 25p and get away with it. Why would a substantial investor with 61pc simply walk away?
Well the holder invested at 100p... and they won’t be selling until they realise a good profit.. and they only way would be a big fat divy payout.
Any thoughts on what could happen to the 60 odd percent holding in AMED now that the holder has left the BOD and has not been replaced? Added to this and following the loan repayment from MGR the cash balances exceed the mc. In addition the rig and other investments are in for nothing. The half year figures could make interesting reading as could any reference to future prospects.
Small sells seem to push the sp down every now and again and it is as if the bigger picture has been lost here. All eyes are on the sale of the rig which will of course provide huge cash inflows into the joint venture for further investment or a divi out. But excluding any value in respect of the JV we have the earnings it can provide as was the case in the second half of the year. The copper mine is an investment pure and simple but MGR is another potential money earner as having paid back its loans to AMED it is probably self serficient and profitable. There is good cash balances and no gearing. So with assets of 50p and with substantial earning potential why do we have a sp of 10p ?
Those 10.45p trades are buys ofcourse. Someone/s taken advantage of the fall. A couple more like that & they'll have to take it back up.
Agree dtc. The assets here are about 50p or about five times the current sp but all eyes are on the rig which of course is important but it is the other interests that are generating profits. Also interesting to note that MGR repaid its loans to AMED post year end which could indicate the business is moving well into positive cash and is profitable. The yard was very profitable during the second half so we need to look beyond the sale of the rig which is a bit of a smoke screen IMO
Ismalia, plus the JV of 23rd August 2017; revenues for the first 6 months of this year, might come through & be added to the Interims, this September. Reminder of the JV- http://infopub.sgx.com/FileOpen/Announcement_YZCK-Fin.ashx?App=Announcement&FileID=468166 The offshore yard is increasingly busier, one expects. And sometime this year, the rig sale & another project may well surface, finally.
Take a look at the full year figures and you will see there was a very impressive profit during the second half of the year from the yard. If this continues for a full year then earnings could be very impressive without any input from the sale of the rig. Interims could be a very positive for the share price IMO
Can buy & sell reasonable amounts now.
cant buy?
Further recent mention of the YZJ's JV with soon-to-be Japanese partner, re LNG; will it be our offshore yard involved?
Taken from below, 'Potential collaboration with Japanese partner is another catalyst. Yangzijiang’s strategy to move up into the LNG/LPG vessel segment propels the longer-term prospects of company. Management shared their vision to collaborate with Japanese partner to expand into the clean energy vessel space in a bigger way.'
hxxps://www.dbs.com.sg/treasures/aics/templatedata/article/recentdevelopment/data/en/DBSV/072018/YZJSGD_SP_07032018.xml
excellent news for the premium jackup rig market. Wonder where they could purchase one from? https://splash247.com/shelf-drilling-ipo-oversubscribed/
First mention of I've seen of country of origin i.e Japan(ese) partnering YZJ intention of moving into LNG/LPG vessels. Article from 23 May, excerpt below, As the largest and most cost-efficient private shipbuilder in China, Yangzijiang is well positioned to ride the shipping and shipbuilding recovery. Its strategy to move up into the LNG/LPG vessel segment with a Japanese partner strengthens the longer-term prospects of the company. We have been more bullish on the sector’s recovery and believe Yangzijiang deserves to re-rate, catalysed by order wins and newbuild price increases eventually. The shipping supply growth could outstrip demand growth in 2018-2019. Profitability improvement of shipping companies should drive demand for newbuild vessels and higher newbuild prices. hxxps://www.dbs.com.sg/treasures/aics/templatedata/article/equity/data/en/DBSV/012014/YZJSGD_SP.xml?sessioncheck=true?sessioncheck=true