Member Info for Castaway

MM - yes what a great opportunity to buy low,

Well you have to laugh AFCR has the prospect to acquire mine for £1.6mil which could be producing by April, and which has (by their estimation and Rigger's sums) $803,571,428 (or half a billion pounds) worth of metals in it and the share price drops 17%. Well there could delays I suppose, and a bit of funding required - but what a deal!

me too doubled my holding at an average below 0.6. 4p very possible by mid 2015

being filled being offered more to sell .603 than to buy .6 at the moment

since 9am - looks good from here I have just tried a dummy sell and they will take 5 mil @ 0.58 - 0.6 to buy for me

Even after dilution the current s/p would give a market cap of 7 million for two mines to be in production in a few months? - and lets us not forget the other assets AFCR has in Africa including other gold prospects, diamonds, nickel, rare earths and phosphates.

of the placing also - they won't be selling

Yep very few sells there were lots first thing though so the MM's will be sitting on a few, but they won't last forever and then this will move up

will take a million @ .59

to .603

Too right I have added a mil this morning

£45k buy

of the proposed Baita Bihor mine. Just based on the NPV of $100 mil it is worth around 1p per share after the proposed placing, that is prior to production. The RNS states it has an internal rate of return of 563% - exceptional. The mine was up for sale in 2011 for $15 mil, AFCR are getting 68% of the mine for £1.6mil. Lets wait and see what happens on the 30th December - I am still very positive about the company.

I have a higher average than .5 as well, however I think this is a good deal and so do the directors from the RNS - "The Directors and their associates have, in aggregate, subscribed for 76,819,400 New Ordinary Shares in the Placing and Subscription." They are putting in getting on for £400k

I think the s/p will be higher than .5 in the new year - have a good look at the mine model in the RNS

.

Looks like you are correct - if it goes yo .5p I will be buying a few mill more

Maybe, also the dilution, but personally I think it is worth it for the asset. So do the directors as they a buying into it heavily

Yes but the BB mine will generate $10mil after tax per annum starting off in April 2015

Sorry meant to post this with the links - Here are a couple of links re the prospective mine - the first is from a company looking to buy the mine in 2011 and gives a background and a bit of info regarding grades of ore - also have a look at the minerals in the tailings dump inc. 300kg of gold.