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we will see a bid by at least one co upwards of 150 in the next couple of weeks imo. Personally I can't see me being tempted out for less than 250p. This has beena long frustrating hold 4 me but ay day is round tbe corner. Imic have reportedly put in a 150p offer which trumps the previous 130p reported offer. Rns tomorrow hopefully. Happy new year to you all!
This is very good, i'm not gready but a sustained rise all the way to 150p + would be nice!! then 250p for peer par value. I just hope we dont get the usual drift back after good news.
Alchemy Send Message View Profile View Posts View Threads Add as Friend Filter 14 Jun'12 - 19:56 - 18367 of 18372 1) Share buyback The gist I got here was “never say never “ but cash gives us two years working capital, helped treasury and, were it be discussed ( which it might ) at a B o D meeting the likelihood of a buy back being agreed is slim. 2) In the next PEA, could you ask management to do one example where they compare the Nkout project with SDLs project, etcetera? The enterprises are linked by infrastructure (only). The two ventures are not comparable one is DSO and our current – our PEA project – is magnetite. Magnetite is the most capital intensive and the fact that the NPV is positive is a good sign. One project a large one now very proftiable started off with a negative NPV. Infrastructure in general was discussed = SPVs and so on -and with respect to using existing rail lines and roads and we were told consultants are reporting soon. I would just say they have a handle on it all and various mileages of made and unmade roads and distance to rail heads were known and given with comfort of understanding. The Sundance Project was thought, informally, to be go 3) Ntem grab results Given the accolade of “good question. They have gone straight to drilling. 34 holes as stated by another attendee!! 4) Early cash flow from Akon - more detail? At this point the map complete with the Northern line was brought into play. 5) How does the 25% reduction in oil costs affect monthly cash burn (assuming PoO is sustained at these lower levels? Very small delta not really significant. Cameroons thought to regulate oil/energy prices. 6) Is there any benefits in the company purchasing (or hiring if at all possible) more drilling rigs to fast track DSO drilling at the satellite assets without slowing Nkout DSO exploration? 7 Given the ridiculously low valuation, have the BoD got plans in place to fend off a hostile approach should one arise? May be discussed at B o D meeting. 8) PR expense -- value for money – comments Think the PR man was there so nothing of merit to report. 9) Infrastructure - especially will it be built, and the Northern Line. See above, the abilities are for marginal cost bearing to link to our resource or as an option investment in the SPV are ours. Northern line was not a term Luis had as short hand so the northern / existing line on his PowerPoint was used to explain this question. Interestingly most trains that were laden ran inland so the burden of sending “stuff” seawards may not be as we expect prima facie! As I said the Sundance Project was thought, informally, to be go 10) Robrah supportive? They have been known to cut Sp estimates.. Brokers aims had gone down with SP sometimes – I have to say I / we should have laid out this question in more specifically but although the bro
wow a decent rise today, let hope this is in advance of good news/rns due. so many stocks undervalued right now. in three years from now those with the currage to buy in will benefit from the upturn, imo. come on aff lets have another push up tomorrow.
my thought is that these SP movements are just linked to the wider sector, I’m no expert as you can see from my projection last week but if you compare AFF to RIO/BLT you can see a strong correlation in recent weeks and looking back over longer term I noticed that if they drop we drop more/if they rise we rise slightly. I think AFF is still a risky share and because risk is off we will unfortunately will suffer (without great news of course) . I have invested hear for a long haul and I hope to see a significant ROI. I sometimes think I should trade this share but I simply don’t have the time or the expertise so I will continue to hold. Good Luck
so much for 80p plus! i have to say this is a bit of a suprise but maybe next week we will see people catching on to this bargain and fill up their isa's, who knows? obviously not me!
AFFERRO MINING INC. Afferro Announces Amendment of Share Purchase Agreement Afferro Mining Inc. ("Afferro", TSX-V & AIM: AFF) announces the signing of an amendment agreement to provide for the closing of the sale of its 38.5 per cent minority interest in Severstal Liberia Iron Ore Ltd. ("SLIO") to Lybica Holding B.V. ("Lybica"), an affiliate of Severstal (the "Transaction"), on 5 April 2012. As disclosed on 28 February 2012, the parties received correspondence from the Republic of Liberia's Ministry of Finance (the "Ministry") claiming that Lybica should withhold tax at the rate of 15 percent upon payment of the purchase price of the Transaction. Following consultation with Liberian tax advisers and legal counsel, neither Severstal nor Afferro believe that such a tax is payable. This advice is consistent with the advice obtained by the parties prior to entering into the Transaction. In order to facilitate closing on 5 April 2012, the parties amended the share purchase agreement to provide for (a) a US$55,250,000 payment delivered to Afferro at closing and (b) an amount totalling US$9,750,000 to be held in escrow with Royal Bank of Canada. Under the amended agreement, no portion of the escrowed funds will be released to the Ministry before 31 December 2013 unless certain events occur, including settlement or final determination of the Ministry's claim. The escrow of such amounts is not an acknowledgement of the validity of the Ministry's claim and Afferro continues to work to resolve this matter in a prompt manner. Afferro's CEO, Luis da Silva, commented: "We are looking forward to closing the Transaction tomorrow, which will secure the future development of Afferro's assets in Cameroon. The decision to move the funds into escrow will allow Afferro to resolve the Ministry's withholding tax claim independently, while also providing over US$55 million in cash, equating to about two years of working capital. Funds from the Transaction will be used to advance Nkout through feasibility work towards DFS in H2 2014, and to continue to drill for additional direct shipping ore. The Company has also moved three drill rigs to Ntem in the last week with results expected from the drilling programme during Q3 2012. At only 80km from the proposed port, Ntem represents a very exciting exploration target for us."
if we can hold at arround 70p until wednesday with good news I'm betting on 80+ by close on wednesday. lets see what happens......
hi mogo, this is a quiet board i dont usually post cos my other shares have very busy BB's so i just tend to read along! this board has become quiet sinces the sale of putu strangly. having watched the luis interview below i'm confident that we will get resolution on the tax issue next week and hopefully that should at least push us back to test the 82 area again. whats your thoughs, are you hear for the long term?
the chat boards have gone quiet on ngl and the lack of communication from our bod's is really making me think this share will go the wrong way dispite todays unexplained rise in price, any thoughts? whats your thoughts blad are you still in?
How acurate are these buys vs. sells, if they are acurate the SP should have been up surely.
does anyone have any idea what this details will be? surely with the rise on AIM good news must have been leaked. there has beed talk on some boards of a take over north of 12p..... not long now to find out, lets hope the ASX open price reflects sentiment in the UK - with interest!
can anybody shed any light on why aff tsx has dropped 25% this evening? i've had a good day today with char and ngl rising but if aff starts to fall back it will wipe out and paper gains on those as aff is my main holding. any answes welcome i often wonder why the share price behave's very differntly across the dual listing?
i'm guessing that the retrace is due to profit taking which is fair enough after such a rise of late but i'm hoping that the news will be good and the sp pushes ahead towards tp1s short term target of 25p.
"Norseman Gold. If I had to go for a tip of the year it would be 2011's gold dog of the year Norseman. Yes the old management team messed up at almost every conceivable level. And that is why the shares languish at 5.125p which - on a fully diluted basis - values Norseman at £27 million. In calendar 2012 output will be 100,000- 110,000 oz at an average cost of, say, $800.On a $1600 gold price that means free cashflow after PLC costs of £40 million plus. On a multiple of even 3 that implies a share price of 23p. On a $2000 gold price and a multiple of 5 as the sector is re-rated you can treble that or more. Clearly this company's record of non delivery is spectacular but with its founder management team back in charge and a monumental margin of error the risk/reward trade off is spectacular. Target price ( for starters) 25p."
Hi Blad, things seem to be looking up in anticipation of the results. i hope we have managed to increase production somewhere near to the forecast and if we can also throw in a decrease in the cost per oz we will surely see a nice increase? Good luck with it!
so posibly NEXT WEEK! sorry about that confusing reply i've just read it back!
i read it could be as early as the 23rd but no later than 28 days after monthe end, so posibly? there are some oposing opinions on iii website bb regarding the output........ lets hope these new parteners have worked some magic!
report link: http://bit.ly/tRXbAb