Firering Strategic Minerals: From explorer to producer. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
What an appalling set of figures. Take a look at Companies House. The Chairman has gone which is the best news - his reputation goes before him and I wonder if he will retain any credibility in the City. We are now a private company with the major shareholder showing no interest. All assets written down including the copper mine that has been written off. The Directors continue to be optimistic though.
Started: yoshie, 8 May 2019 14:11
Last post: ismalia, 14 May 2019 14:02
It's the Chairman who is the major problem here. I fear there will be an offer to those of us still owning stock at a substantial discount to the asset value the Directors keep banging on about.
Anyone could share some insight into what's happening to these shares we're holding greatly appreciate.
B__tard company. What have they done to the shareholders' hard earned money?
Started: knicol46, 7 Mar 2019 20:35
Last post: knicol46, 7 Mar 2019 20:35
from YZJ accounts.. 'This year, we had written down another RMB211 million in value of the jack up drilling rig, and the Group is actively seeking for potential buyer for the jack up rig.'
further questioning from SGX Exchange..
It is disclosed on page 16 of the announced financial results that the Company had written off an amount of RMB 233 million of trade and other receivable. In relation to the trade receivables for which impairment has been provided, please disclose:
i. The Company’s plans to recover the trade receivables;
The provision was for advance payment to a supplier which ran into financial difficulties and had ceased operations.
The Company plans to recover part of the advance payment via legal proceeding against the supplier.
ii. Whether they are major customer(s) and whether the Company continues to transact with these customer(s);
No.
Started: davethechef, 29 Dec 2018 13:10
Last post: ismalia, 1 Feb 2019 19:01
The next we will hear is an offer to locked in holders at about 5p a share notwithstanding the company said the asset value was about 50p. If they offer me 20p for my 115k they can have them.
just awaiting news. Assume the stock is trading and we still awaiting the Explorer I rig to be sold - as that is the next expected event we await anyhow. A matched bargain facility was promised from AMED soon after delisting still awaiting an update on this. Contact AMED directly by email or telephone although they do not seem to respond to emails. Good luck all
Anyone still here? What can we do next? Heard anything from the company or your broker on this?
guru, Well, no but he gets a regular income, his mate from Teathers has a paid seat on the board and his techie mate got a contract to work on the Teathers app. Trick is to be Ben or his mate.
I'm still in ... not sure why, wishful thinking I guess (or stupidity) ....
Last post: Goldenegg, 27 Dec 2018 15:44
I don't really understand why folk are buying here when tomorrow sees the end of AIM trading. I have no doubt that the company has a great future but on past experience I would say don't underestimate the difficulty of finding a buyer for your shares at a later date. Personally just taken the easy option, bit the bullet, taken the 98% hit and moved on with my 50 quid leftovers!! Good luck to one and all. Let's hope that 2019 is a healthy year in every respect.
Started: knicol46, 21 Dec 2018 14:20
Last post: knicol46, 21 Dec 2018 14:20
If anyone holding after delisting, if the company offer a match trading facility (britdaq probable) you need to have a share certificate in your own name. Consider the cost for your broker to issue a certificate before delisting and if they are able to offer a certificate on your delisted stock once it happens.
What's that then guru?
Someone is accumulating & for a good reason
Dealing and settlement arrangements
The Directors are aware that Shareholders may wish to acquire or dispose of Ordinary Shares in the Company following the Cancellation. Accordingly, the Board intends to put in place an internal process that will allow Shareholders or persons wishing to acquire or sell Ordinary Shares to leave an indication that they are prepared to buy or sell at an agreed price. The Company will then use its reasonable endeavours to contact those parties that are willing to buy and sell in order that they may discuss effecting the bargain.
Once such a procedure has been put in place details will be made available to Shareholders on the Company's website (www.amedeoresources.com). It is expected that this will take place shortly after the Cancellation.
Started: knicol46, 18 Dec 2018 15:21
Last post: knicol46, 18 Dec 2018 15:21
In Sep 2016 Sable Mining (Consolidated Growth Holdings Limited) also delisted and became private. At the time of delisting they had $3m in cash and total net assets of $4m. Just over 2 years on they have had an open offer to raise $1m. They have realised value from selling most of their assets but shareholders have still be given no assurances as to their holding - 'There can be no guarantee that there will be a market for the Ordinary Shares at any time in the future'.
AMED delisting (last day of trading Fri 28 Dec 2018) at last report cash $2.8m and total net assets of $18.8m. Even when the Explorer I rig is sold this will enhance the AMED value but directors have stated there will be no formal market mechanism enabling the Shareholders to trade Ordinary Shares and no other recognised market or trading facility is intended to be put in place to facilitate the trading of the Ordinary Shares. Good luck if holding for a future trading event.
Started: knicol46, 17 Dec 2018 15:04
Last post: knicol46, 17 Dec 2018 15:04
Cancellation Resolution is passed at the General Meeting, it is proposed that the last day of trading in Ordinary Shares on AIM will be 28 December 2018 and that the Cancellation will take effect at 7.00 a.m. on 31 December 2018.
The principal effects of the Cancellation will be that:
there will be no formal market mechanism enabling the Shareholders to trade Ordinary Shares and no other recognised market or trading facility is intended to be put in place to facilitate the trading of the Ordinary Shares.
Started: knicol46, 17 Dec 2018 14:46
Last post: knicol46, 17 Dec 2018 14:46
Started: knicol46, 17 Dec 2018 10:13
Last post: knicol46, 17 Dec 2018 10:13
* 1M buyer on Friday
* if majority shareholder voted against delisting today - expect price rally
Started: knicol46, 17 Dec 2018 09:57
Last post: knicol46, 17 Dec 2018 09:57
around 3pm expected
Can this jump back to 30p?
Wht does that mean for the share price?
One of the large shareholders accumulating for a “NO” vote?
Who is buying it & why?
2 large trades worth 43K ,large for Amed.
Ticking up
Last post: smith999, 4 Dec 2018 09:20
This and IXI having a good day today....what’s happening here!
Started: knicol46, 4 Dec 2018 08:50
Last post: Babbler2, 4 Dec 2018 09:03
sp up 22%... spread 44%... so not really a rise?
Explorer I rig must surely be selling very soon. This would generate extra cash to AMED and raise the market value considerably. As there was $2.8m cash in the pot at last report, spending £100k a year to keep an AIM listing - well we can afford it. Works out at around 0.003p per share holder a year.
It would allow investors to at least buy/sell upon the rig sale (AMED main event) instead of allowing the directors to do as they please with shareholders having no control in their asset.
Personally will vote NO to delisting but happy to allow the nominal price reduce if AMED ever needed to raise cash. Although they are fine for cash as at last report.
Started: knicol46, 2 Dec 2018 17:30
Last post: knicol46, 2 Dec 2018 17:30
voted not to leave AIM expect a rally in price this stock.
Started: yoshie, 29 Nov 2018 11:03
Last post: knicol46, 29 Nov 2018 11:32
ask the company the question
and distribute the profit to us..
What will happen if this gets delisted and they sold the rig after? Are they going to do us for the money?
Started: davethechef, 29 Nov 2018 09:41
Last post: davethechef, 29 Nov 2018 09:41
Strange they mention that directors have concluded it is the best interests to delist however they haven’t stated “ we have consulted with our major shareholder”. Who knows which way he would vote? Would he also want to be diluted down? Cash value is 8p.
QIC hold 61%. Passing of delisting requires 75%. What must the other listed shareholders be demanding, including Hargreaves Lansdown. And voting by PI's. Is this correct?
Started: knicol46, 29 Nov 2018 09:16
Last post: knicol46, 29 Nov 2018 09:16
within the next few weeks before the GM - would be interesting situation
Started: knicol46, 29 Nov 2018 09:13
Last post: knicol46, 29 Nov 2018 09:13
Started: davethechef, 29 Nov 2018 08:39
Last post: Goldenegg, 29 Nov 2018 09:09
Surely since PIs are in the minority there is no hope of carrying the vote?
Amed have a robust cash position, & various assets, in particular their stake in the Offshore yard at Taicang, Singapore, which continues to gain activity, in preparation to build LNG vessels. It's the only subsidiary yard of YZJ which is at Taicang, and has been stated(with my posting of links) to be the chosen yard for YZJ's recent JV with Japan's MIitsui E & S, commencing April. If the voting primarily is NO to delisting at the GM on the 17th, my understanding is, we carry on trading on AIM.
Started: knicol46, 29 Nov 2018 09:09
Last post: knicol46, 29 Nov 2018 09:09
accept or reject:
1) to reduce the nominal price to 1p and/or
2) delist from AIM
Ultimately the majority shareholder owning over 60% has the final say
Started: davethechef, 28 Nov 2018 20:22
Last post: davethechef, 28 Nov 2018 20:22
If the management had made an decent PR effort on their assets, and maybe sold their disappointing MGR Resources & Copper Mine & successfully re-invested; and the rig had been sold by their offshore partners, we'd have been traded well & gained some 'traction' by now. Their new brokers haven't maybe aided.<br />Poor communication by management to their PI's.<br />The offshore yard, as I've posted many times, may in time see huge potential, supported by Yangzijiang Shipbuilding.<br />It's all very messy & seemingly 'underhand' tactics going-on.