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Jumped to 15.90p to buy now, so without any obvious recent buy showing may be a delayed buy going through to take the price up from earlier quote I had of 15.22p
Not reported at the time by AMED, but this JV does directly involve our offshore yard(two links below) This JV and our 49% interest in MGR look increasingly progressive, particularly the latter, revenue producing on commodity price rises. http://infopub.sgx.com/FileOpen/Announcement_YZCK-Fin.ashx?App=Announcement&FileID=468166 http://splash247.com/yangzijiang-establishes-new-offshore-structure-manufacturing-jv/
http://infopub.sgx.com/FileOpen/Announcement_Sushang.ashx?App=Announcement&FileID=490728 results to follow
YZJ results won't directly influence Amedeo, is my belief. Apart from some overspill work as has been reported in past RNS's. However, the most profitable ship yard in China(non state owned) YZJ 'looks good on our C.V' we have a JV with them through our offshore yard 19% interest. We are awaiting the rig sale and further contracts. Below is my post of 21st when the SP was a mere 9p Our current SP is frustratingly near new lows(mainly due to bored P.I's selling in response to the continued delays in the rig sale) however our market capt is now equalled by our healthy cash position & substantial loan owed, in due course. We have no debt, a 19% stake in an offshore yard, which has seen increased work, a 2.5% stake in a producing copper mine which in turn is 'feeding' copper to our 49% interest in MGR Resources. MGR Resources, come June's Results will see substantial increase in revenues/profit, through the increased copper feed/prices and increased iron ore prices, in particular. Clean energy vessels & burgeoning LNG appetite has been mentioned for our offshore yard along with new rig production. Our JV partners & Amedeo are well connected & operating in one of the world's most progressive & well sourced growth areas. Amedeo have �Billion shareholders, who are supportive too. One suspects they are well informed. The shares are tightly held. It's frustrating waiting for news, but it'll be interesting to see what our JV partners & Amedeo do with the cash pile, on the rig sale & next developments. I see a possible 5 bagger FWIW, this coming year, on interesting developments.
"Amedeo has an indirect 19.0% stake in YZJ Offshore which it holds through its 47.5% stake in the joint venture company, YZJ Offshore Engineering Pte Ltd." IE if they have good results - our price rises...
Knicol46. Why do you think the results of YZJ will have any effect on AMED? We only have a JV with their offshore engineering company who's main products are to quote: "Main products are offshore drilling platform, and products will be exported to Germany, England, Canada, Norway, Denmark, America, Singapore and so on." as taken from the Offshore Engineering section other website: http://www.yzjship.com/en/company.asp?sid=11 They are a massive ship builder and there are far worse people to be in a JV with but don't see how their new order pipeline will affect us. Yesterday's rise was welcome and hope it continues but news of the Rig sale and general update on strategy is what we need here.
Order filling at its best with that spread... imo... see what comes in after hours...
Cash down in the main due to the loan to MGR Resource (see loan receivable of US$2200k) and 2.5% investment in GKC (US$500k)
Cash down because they made an investment in the Copper mine. Salaries are extremely low for all board members at Amed.
�3m mcap: Overall, at the period end, net and total assets were US$17,747,000 (2016: US$20,607,000) and US$17,864,000 (2016: US$20,796,000), respectively.
YZJ update results tomorrow (may be late afternoon UK due to China time) and awaiting payment for rig
handy, thought I'm the unfortunate one been in here for last 3 or 4 years. Although today's rise 33%, I'm still 82% down. What news coming? Are they getting lots of money coming in for selling the rig or other news?
In the afternoon DYOR
16p coming up - low volume remain
Sticky and patient. Been in for 3 years !
80% plus a few sticky PI..!
so don't be surprised to pay a premium if wanting to buy small volume http://www.amedeoresources.com/en/content/8-investor-information/21-significant-shareholders
last traded 16.24p +54%
http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20171109:nSN71h2MD Yangzijiang’s 3Q2017 earnings more than triples yoy to RMB866 million, Group secures new shipbuilding orders of USD1.6 billion year to date
even 20p is still well undervalue (around 40p NAV) at last report
From our Interims dated 26 September 2017:- "Progress at Jiangsu Yangzijiang Offshore Engineering Co. Ltd's ("YZJ Offshore") marine vessel yard on its first order, a Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig ("Explorer 1"), continues, and the yard is preparing to deliver the rig." Now take a look at the photographs of our yard on the company website:- Http://www.amedeoresources.com/en/content/7-investments/17-yzj-offshore Have you noticed there is no longer a photograph of the rig in the yard? Are we currently in the process of delivering the rig to our client? Someone was very keen to buy shortly after the opening bell today. Confidence or something more? I am happy to be holding....
sp +38% currently awaiting news
Impossible to buy here - been trying to get more but premium wanted... someone has posted on ADVFN some interesting posts - including the fact the rig is no longer in the pictures? :D But results tomorrow too as stated is more than likely the reason...
Lovely...