Member Info for optimist13

From the Comarco report:
"Anadarko has recently announced the Final Investment Decision (FID) in the “Area 1” of the Rovuma Basin in Mozambique. At $20 billion the FID is the largest Oil and Gas sanction ever made in Sub Saharan Africa. Comarco Group is one of the few marine operators in the region with the capacity and experience to take part in such large scale and specialised oil and gas marine projects and as such it is anticipated that Comarco Group will be competitive in the bidding for ongoing and upcoming tenders. It has been projected that the total infrastructure spend for the entire project will be in the region of $70 billion."

Comarco Group half year report also released. Sounding very positive:

https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/comarco-group-interim-results/20190729160000PBB3D/

now released:

https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/aaa-interim-results/20190729160000P72FD/

Now less than 5 trading days until we see the half year report, and hopefully an update on the RTO with Comarco.

One thing is for sure, the stock here is tightly held with very little free-float at the current price range judging by the lack of trades. Further positive news could finally see the share price recover to more sensible levels.

Bloodshot, the interim report has to be released within 3 months of the period end, which would make it the 31 July at the latest. Same time as last year.

Due in the next two weeks. Think we are going to see a flurry of RNS's to coincide with the report.

I assume Mike is replying to my post. He is saying that there is a zero chance of a placing below 0.50p.

I couldn't agree more and the question for me is at what price Andrew Monk - VSA Capital agrees with the Institutional Investors for the funds to rapidly expand the business. For me it should be between 0.75p and 1.00p, based on the asset value of Comarco and AAAP, plus the value of the Main Market listing.

interesting...over the ask paid today for a small amount of shares:

10/07/2019 12:42 1,153,846 0.1

kitlow - nice one. I would be surprised if it went any lower than this. The cheapest I have been able to buy over the past couple of months is 0.375p and that is before the positive RNS yesterday.

Can't believe the MM's have balanced their books yet and I certainly can't see any placing below 0.50p at a minimum, other wise Mike Joseph will be very disgruntled.

Also, there are no cheap options or warrants granted from any previous placings.

someone has sold the 657k shares they purchased yesterday and taken a £1200.00 hit....mind boggling.

The MM's are laughing all the way to the bank.

With the half year results due imminently and probably further updates on the RTO, I expect the share price may be marked up very quickly on positive news, or indeed suspended until the RTO completes.

The new BOD of Agulhas Africa which excludes David Lenigas appear suitably qualified to take the company forward very quickly.

Zante, I think it would be advisable to read the RNS's from the company to gain a clear picture, but to answer a couple of your points.

Comarco is a private company and needs access to funds to capitalise on the increasing demand for their services for the five companies that make up the businesses in the Kenya/Mozambique region.

AAAP is a Main Market listed company and the RTO by the newly named company Agulhas Group Africa will give Comarco much greater access to the capital markets. I believe the cost of achieving a Main Market listing can run into millions of pounds, so there is a win win for both companies.

The new company will comprise of seven different trading companies with a current turnover of circa £10m, although I expect this will increase rapidly given the opportunities that are currently available.

The current two businesses in the AAAP stable are currently profitable and the half year report, due this month, should confirm continued growth.

I believe many people are confusing the share transfer price as a valuation for the Comarco business, but in my view this is wrong. At 0.50p this values the Comarco business at a circa 20% discount to their net assets, which IMHO is well below the valuation of a successful port and logistics business.

very tight spread now...buy 0.50p v sell of 0.482p. MM's looking for shares. A few more buys should see both the offer and bid rising.

Still very cheap when you consider the opportunity.

Full ask now being paid......

Hi Mike, good to see you are watching proceedings here and still very positive about the potential growth following the RTO.

https://www.proactiveinvestors.co.uk/companies/market_reports/223579/anglo-african-agriculture-cruises-higher-on-mombasa-port-decision-223579.html

Anglo African Agriculture cruises higher on Mombasa port decision

It does make you wonder where the MM's are going to find the shares to balance their books. 6.5m buys versus 2.6m sells today so far, with a similar pattern on NEX.

Mike Joseph put circa £1m into the company at 0.50p last September and holds 25.8% of the company. With the positive news coming out of the company and Andrew Monk -VSA Capital who is a directors of AAAP and facilitating the RTO, I foresee a great demand for the shares as people gain a better understanding of the potential.

AAAP is Main Market listed and should attract a much wider shareholder base, IMHO.

Great to see some volume on both LSE and NEX. Buys far outweighing the sells at the moment and with many of the shares held by directors and Mike Joseph, I believe the MM's will have to up the bid price substantially to attract further sellers.

Up 22.83%, but still below the last placing price. This should be a lot higher given the potential and the asset values of Comarco and AAAP.

"Comarco Group has obtained the consent of the Kenya Revenue Authority to gazette its Mombasa port area as an entry and export area for customs purposes by the Commissioner of Customs and Border. This means that:

The Comarco Port has been designated as a Kenyan Entry & Exit Point;

The Comarco jetty has been designated a sufferance wharf and customs area; and

The Port has been designated as a customs bonded warehouse.

These permissions enable Comarco Group to operate as an independent port facility, which will allow the Group to consolidate and expand its port operations to a significantly wider user base.

As a consequence of the above, Comarco Group has signed a contract with Samruddha Kenya Limited for the export of 500,000mt of iron ore in bulk over a one year period.

In addition, Comarco Group has finalised a contract with RK Sanghani Limited for the export of 200,000mt of iron ore in bulk over a six month period."

Extract:

Simon Phillips, Chief Executive of Comarco Group commented:

“This is a game changer for Comarco. Historically we have enjoyed a lot of benefits from the EPZ programme and it has served the group, and Kenya, well. We will continue our good working relationship with the EPZA by keeping KMC and CSB in the programme. The designation of the Comarco Port as a functional private port broadens our capabilities and opens up a raft of new opportunities. We are already seeing these benefits come through with the signing of two significant contracts.”