Member Info for mogo

that is £141m which would have bought AFF at about DOUBLE what it is now! That appears to be the real reason Jindal aren't continuing,nothing personal just cash flow lol.

a reason might be the report on Google "Jindal Steel & Power makes move to acquire Gujurat NRE Coke Ltd's NRE Coking Coal Ltd... cost to be an all cash $A221m..." as at 31/1/13..

it is possible that "Indian news leak" a week or so back, which got this down from 100p to 82p had a figment of truth about Jindal pulling out,it was just a bit early...???...no smoke without fire.Anyway the SP is holding up quite well,daily SP chart still on a rising curve.And buy/sell ratio not bad.

Jindal potentially -unless they come in with a hostile bid now- stand to lose the whole S.Cameroon iron market to the Chinese,that's probably why they are being a bit iffy.

it's not this one -I'm in here a while already lol.

and the West are gradually losing the "battle" for Africa to the Chinese,this isn't an isolated happening..

agree-the chart of today looks not bad and the buys/sells not bad either considering.AFF showed they had g*ts today.

buy the "give up" story you need to believe that all the discovered iron ore in S.Cameroon and adjacent areas has to stay in the ground lol.

I'd tend to believe an official AFF RNS rather than an Indian newspaper report(allegedly)..in a previous post I said I backed the Chinese "to win"- 1. their great influence on railways and iron ore in W.Africa. 2. the fact IMIC are involved with the major Chinese Railway Company. The chart says it all- all bids in operation(situation up to today)=above about 80p;other bids still in 60p to 80p;no bids(situation in December=around 60p.The refusal of a Jindal bid by AFF shows confidence,and the eventual offer if there is one to be well over where we are now. There is the fall back position-AFF go on independently.Others will build the railway and develop the port anyway and there is also road transport and quite decent roads too. I'm staying in this..

yes it is sliding now out of our 80p to 83p band though it did this intra day last week did it not ? I'd rather hear no word though than hearing about a mass walkout lol.But this is mining-unpredictableness is that a word- makes you love it-no ?

the point is all these bozos already knew about the railway situation and its not AFF who will fund it anyway.They'll decide on the basis of what AFF themselves have to offer.Which is pretty good.Yes they'll need deep pockets but they know that too assuming they are sane people which they are.Even in event they all run away tomorrow we have the medium scenario here with either other newcomers or AFF going on alone...

this is still hovering at the support band from the last fall 80p to 83p.No real change.

JT you're a gem,more than AGQ are mining these days lol!

around 80p-83p seeming a stronger support level on chart now..

Thanks for that.It was precisely what I was on about earlier-a larger picture not just AFF doings but the new railway,everything..however though Equatorial can do a useful study can they replace the Chinese this will require $billions,the Chinese might look to taking over or JV'ing with all the companies in that region with/without forming consortiums..I hadn't included Congo or Gabon but yes that should go in too.A monumental plan but only they might do it..yes and time and patience here,mike you thought initially a week or so lol...but it should be worthwhile even if AFF is to be only a cog in the wheel..

by "want it all there" I include the railway and all companies not just AFF presently independent who are having good DSO iron ore in S.Cameroon..

These days there are few deals or takeovers.Cash is king and investment is tight.Often you are paying 15% to borrow money.In Africa the penetration of the Chinese is as much about power as economics.Though the Chinese rarely deal in excessive amounts tending to be very careful with their fees,being nationalised most of their bodies are hardly subject to normal western limits.If a railway has to be built it will be.Yes extraction of iron ore from S.Cameroon is possible by road/dirt track but a railway must be built otherwise large scale mining will not work.I think the Chinese want it all there.Plus owning the railway.Jindal won't get a look in as I doubt they are prepared to that extent for that scenario,yes they are big and very rich but are not prepared for that.There has been a China v. India struggle elsewhere too. China shoulod win. Mittal of India for example are closing down somwhat their iron activities in Canada too.So in my book it has to be the Chinese with or without IMIC as a front company to show up in public when necessary.And it might take a while,up to 2 years ?

the pity is if any doubts or public withdrawals of bidders happen without a deal we will get into the 60p to 82p or so band again.The support near 82p is holding so far at least.Agree longer term this cannot lose-cash,resources yes transport are there already GL.

yes,exciting- 1. you won't be Last 2. it will stay exciting. Our little comp.is well made.JT makes it possible,tx.

brings to mind the associates of IMIC,The Chinese Railway Group..