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Reported NAV will be over 30p so the current sp is ridiculously low. We just need the catalyst for the huge re rate to begin. A great risk/reward at the current levels. Try accumulating stock when a client rig finance RNS is issued. I look forward to reading additional information re the commodity trading and our copper mine investment. In due course, I am sure we will take up our option for a further 5% interest.

Indeed and as the Explorer-1 jackup rig is a high spec deep water rig, its value becomes all the greater.

https://www.bassoe.no/wave-of-consolidation-ready-to-hit-the-offshore-drilling-industry-or-not/news/55/

as the big players build their empires:- http://splash247.com/offshore-drilling-rig-empires-emerging-take-industry/?utm_source=dlvr.it&utm_medium=twitter which explains why our jv partner, Yangzijiang Shipbuilding, has raised cheap money to grow their business and expand its jv's:- http://research.sginvestors.io/2017/09/yangzijiang-shipbuilding-cimb-research-2017-08-31.html#.Wa0BwY8w2rI.twitter we await our Interims with great interest.

Yes it drifted down on very few trades. Now watch it move up equally quickly, as we know Interims are out in September. Ridiculously low market cap given rig asset, 2.5% copper mine investment in Ganjine Kani Company ("GKC") (with a 5 year $2m option for a further 5%) and a 49% holding in MGR Resources. This from the RNS of 11/1/17 re MGR:- "Amedeo has made available to MGR Resources Pte ("MGR") a loan facility of US$800,000. The facility bears interest at 10% per annum and is intended to be used for working capital. The iron ore price has been rising since its lows (around US$38 per tonne) at the end of 2015 and now is over US$70 per tonne. This rise has led to increasing opportunities in the iron ore market which MGR intends to take advantage of. MGR has an existing US$400,000 loan from Amedeo." Re the 2.5% investment in GKC, this from the RNS of 19/1/17:- "GKC has been selling copper concentrate into Asia, including China. MGR Resources PTE Ltd ("MGR"), which trades and brokers iron ore and in which Amedeo has a 49% stake, intends to work with GKC to increase GKC's supply of copper into East Asia and China." Glen Lau, Chief Executive Officer of Amedeo said "We are pleased to have made this acquisition which will allow MGR to widen the commodities it trades and brokers and, at the same time, give MGR a captive supply of copper."

Time for a JV win http://worldmaritimenews.com/archives/228331/report-angelakos-books-up-to-six-panamaxes-at-yangzijiang/

I wonder whether our JV yard will attract interest? http://splash247.com/keppel-sembcorp-merger-speculation-resurfaces/?utm_source=dlvr.it&utm_medium=twitter

then we were notified in the Finals, released on 14 June 2016, that the rig was purchased by Keppel FELS. Given they are a huge market leader, funding is clearly being raised by its client:- "Le Tourneau was recently purchased by Keppel FELs, which has built and delivered almost half of the world's jack up and semi-submersibles in the past decade, due to the importance and uniqueness of the Le Tourneau design. Moreover, in the current new build market, there are no Le Tourneaus that have been built on speculation. All have been ordered for clients and by clients."

then we were notified in the Finals, released on 14 June 2016, that the rig was purchased by Keppel FELS. Given they are a huge market leader, funding is clearly being raised by its client:- Le Tourneau was recently purchased by Keppel FELs, which has built and delivered almost half of the world's jack up and semi-submersibles in the past decade, due to the importance and uniqueness of the Le Tourneau design. Moreover, in the current new build market, there are no Le Tourneaus that have been built on speculation. All have been ordered for clients and by clients.

Pretty much as expected. Good to see expressions of interest in Explorer-1, whilst our client progresses its funding requirements. MGR performance will be made with the next Interims. Yard being utilised while we await further orders. https://uk.advfn.com/stock-market/london/amedeo-res-AMED/share-news/Amedeo-Resources-PLC-Final-Results-for-the-year-en/74793508

It is interesting to note that Legendary Investments (LEG) purchased 19,230,769 shares in Creon Resources PLC (now Amedeo Resources) on 28 January 2013, for a sum of £125k (0.7%). This equates to 192,307 shares, post AMED's 100:1 consolidation. On 28 April 2017, LEG notified the market that 32,272,727 warrants had been exercised by certain individuals, raising £32,727 for the company. What is interesting, is that on 10 May 2017, 119,693 AMED shares were bought @ 26.5p each, for a total consideration of £31,718. This was circa a 15% premium to the then share price in AMED. Now Zafar Karim is the Executive Chairman of Legendary Investments and an Executive Director of Amedeo Resources. So are LEG stake building in AMED ahead of rig delivery news, or is this just a coincidence? If so, one would expect an RNS from LEG confirming the purchase of AMED shares shortly. However, as their interest would not be notifiable (ie greater than 3%), there is no need for a disclosure RNS. Either way, the premium purchase is a very clear indication of confidence in the future direction of Amedeo Resources.

http://splash247.com/yangzijiang-shipbuilding-closes-13-new-contracts-first-quarter/?utm_source=dlvr.it&utm_medium=twitter

With so many LTH under water, this is one of the reasons why the risk/reward is so attractive for new investors. Add to that the newsflow to come and the tiny free float (top four shareholders own 81%) and you can see how incredibly quickly this will move with good news. Cash and asset value adds to the confidence, as does the oil and commodity prices. One to be holding now imo.

Excellent coverage in the Financial Tribune UK Firm Acquires Stake in Iranian Copper Mine https://t.co/tamX5E4lqt

Thursday 19 January, 2017 Amedeo Resources PLC Acquisition of 2.5% stake in Copper Mine RNS Number : 6567U Amedeo Resources PLC 19 January 2017 19 January 2017 Amedeo Resources PLC ("Amedeo") Acquisition of 2.5% stake in Copper Mine Amedeo is pleased to announce that it has acquired a 2.5% stake in Ganjine Kani Company ("GKC") for US$500,000, a copper mining company close to the city of Mashhad in Iran. As part of the transaction, Amedeo has a 5-year option to acquire a further 5% of GKC for US$2 million. GKC is a producing miner. GKC also has the required infrastructure to produce copper concentrate from ore. To date, around 1 million tonnes of ore has been extracted by GKC which contains, on average, 0.9% copper. GKC has three mines. Iranian studies estimate that the producing mine alone may have at least 6.5 million tonnes of copper ore with a 0.9% average copper content. The extent of the ore and its copper content has yet to be confirmed to international standards. GKC has been selling copper concentrate into Asia, including China. MGR Resources PTE Ltd ("MGR"), which trades and brokers iron ore and in which Amedeo has a 49% stake, intends to work with GKC to increase GKC's supply of copper into East Asia and China. Glen Lau, Chief Executive Officer of Amedeo said "We are pleased to have made this acquisition which will allow MGR to widen the commodities it trades and brokers and, at the same time, give MGR a captive supply of copper."

http://www.proactiveinvestors.co.uk/companies/news/170811/amedeo-confident-of-explorer-1-sale-despite-delay-170811.html

I suggest you look who AMED's customer is, it's Keppel FELS http://www.keppelom.com/en/content.aspx?sid=2537 This may be an over reaction. Let's see where this closes

davethechef, I expect to see premium trades right from the opening bell. Market makers will struggle to acquire stock with the top four shareholders accounting for 81%. So they are going to have to attract sellers. However, I am not looking for a bagger. Like management, whose latest options were at £1, I am looking for a similar return and more. Here is the Proactive Investor interview with Glen Lau, dated 3 November 2014. It clearly emphasizes the global offshore opportunity and how Amedeo Resources, via the JV, are looking to build a multi year, multi revenue order book. However, whilst Mr Lau talks about big ticket items, the lack of too many competitors and being able to attract the right skillset, from Singapore and Europe, he is very clear about the need to deliver this first order to the highest quality. That will allow the JV to increase marketing and win further big orders. http://tinyurl.com/o2uxo6b Another interview of importance, was the one dated 3 November 2014. This talked of Amedeo Resources plans to rival the world's biggest rig builders. http://tinyurl.com/npxxdo9 Today's confirmation that the Explorer 1 jack-up rig will be delivered on schedule, is a huge milestone for the company. Let the re rating continue at speed...

Here is why the share price will move very quickly with good news:- The top 4 shareholders, whose percentages have remained static, account for 81% of the shares. That ensures that movements in price, both ways, can be very quick indeed. Http://amedeo.projectoskc2.com/en/content/8-investor-information/21-significant-shareholders Shares in issue: 32,653,843 Top 4 shareholders: Qatar Investments Corporation (66.37%) Mena Global Investments (9.20%) Global Tech Investments PTE Ltd (5.28%) Dune Engineering (5.19%) N.B. Qatar Investment Corporation is a wholly-owned investment vehicle of Mr Ghanim Al Saad, Non-Executive Chairman of the Company. Of those 4, Qatar and Global make up the 66.37% classed as not being in the publics hands. However, both Mena and Dune have remained static for a long time. So let us suppose that rig delivery RNS is released, or an anquisition RNS or even better still, a new rig/vessel contract, What does that mean in relation to the available shares to be traded? Well let us exclude those top 4 shareholders. That would mean only 32,653,843 x 19.24% available = 6,282,599 shares The sp would immediately gap up by a multiple on a new contract and then with almost every trade imo. Even if we only exclude Qatar and Global Tech that would mean only 32,653,843 x 33.63% available = 10,981,487 Well worth considering holding now before any company transforming RNS and that huge gap up imo.

Link to that subscription article http://fairplay.ihs.com/commerce/article/4279061/yangzijiang-unit-set-to-deliver-maiden-rig-on-time