Member Info for optimist13

two large delayed buys gone through.....

DShox - I hope you are proved correct in your assumptions. Quite happy to take a decent profit sooner rather than later.

Let's see what DL has to say next week when the results are released. The first quarter has already passed in the new financial year, so confirmation of the continuing uptrend in business should assist the share price as well.

good to see a bit of volume. This should re-rate very quickly when Gyrometrics announce a contract win.

now + 6.25%

Now up to 135 million shares traded. I wonder if we will see 200m by the close of play and further late reported buy trades.

news from Gyrometrics must be due soon. Meanwhile:

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Carrefour - as a Main Market listed company, AAAP needs to be substantially bigger to justify the listing. DL has acknowledged this in previous news releases, so the question is whether the recent transaction with Comarco is a prelude to an RTO or something else.

Announcing the Comarco transaction he had this to say:

“It has taken time to find an opportunity that opens up possibilities for AAA to really grow and bring rewards to shareholders. The board felt it was important to seek an opportunity where AAA could add real value and create an investment opportunity of size and substance. I genuinely believe this loan, and the work to be done afterwards with Comarco, will bring exciting future opportunities and returns to the Company. Ports are long term growth assets and this port is of considerable strategic importance to East Africa as well as the major oil and gas companies as they develop their substantial new off-shore discoveries from Kenya all the way down to Mozambique.”

In subsequent releases DL stated that they had several companies interested in collaborating with them on the Comarco Port facility, which could lead to a significant transaction.

I don't mind whether we see an RTO with Comarco or a significant other partnership, as long as it gives sufficient turnover to justify the Main Market listing.

I believe we will hear very positive news in the next few months regarding the Comarco transaction, but these things take time to pull together, so anyone expecting immediate news may well be disappointed.

Having said that, turning the existing businesses into a profit is excellent news and should certainly help the share price when it is confirmed in the annual report next week.

Almost 100m shares trade in the first two hours today........

Still up 17%.....and no sign of slowing down at the moment.

Whilst like everyone else I am very disappointed with the lack of new and any updates, I find some of the comments on here quite laughable.

Our trading divisions and investments will probably have produced revenues of between £18m and £20m in the last trading year, which may finally translate in to a profit.

DL clearly has plans for the medical cannabis market and it remains to be seen where AfriAg Global will fit into the picture.

Whilst nobody likes sitting on a paper loss, I think it is premature to be writing the company off as a basket case.

All IMHO, DYOR.

but I can't see any trades to support the increase.

Results due next week, so maybe just moving the price up as we know there has been a material financial improvement in the two trading divisions.

Up 9.71% this morning with huge volumes going through. I hope Gunsynd have not sold any shares as with a bit of patience our investment could materially increase in value once the new wells come on stream and production licences are approved.

Yes, the next few weeks could get very interesting if an II is taking a stake.

A bit of news coverage:
https://www.britsinkenya.com/2019/02/04/anglo-african-agriculture-release-update-on-business-and-corporate-activities/

Extract:

The Board of Anglo African Agriculture Plc (AAAP) have announced good progress in its operations and announces that it expects to release full year results mid-February 2019.

As announced on 30 August 2018, Comarco’s wholly owned subsidiary, Touchwood Investments Ltd’s major asset is a 4.75-acre strip of land at the Comarco port in Mombasa, Kenya, which a recognised global real estate consultant has recently valued at US$12 million (the “Touchwood Property”). As security for AAAP’s previously announced loan of US$1 million to the Comarco group, should this loan not be repaid, AAAP has the right, for a nominal consideration, to exercise an option to acquire 100% of Touchwood.

"In Argentina our 50% owned operating entity, EdS, and its parent company, Patagonia Energy Limited, have outstanding borrowings and interest before impairments of £37.4 million (2017: £37.9 million) due to the Group."

Whichever way you look at it, Rurelec have significant funds tied up in EdS. Now that EdS is back in full production and assuming the wholesale tariff agreement with CAMESSA is on industry terms, then we should see decent profits being generated and a similar level of repayments back to Rurelec as was seen before the shut down.

Some very hefty buying going on at UKOG at the moment. It will certainly be interesting to see where the share price is by the time Gunsynd present the interim results.

Late buy trade for 26m shares just gone through. Should be blue again tomorrow given that the buy to sell ratio is circa 4:1

A little bit understated with my valuation. Found this on the EdS website, although it is quite a few years old:

"HOME
Energía del Sur S.A. (EDS) is one of the largest thermoelectric generating plants in the Argentinean Patagonia It`s Combined Cycle has an installed capacity of 138 Mw that supplies diverse sectors of society and the power industry with sufficient quality and quantity to contribute to the development of the population as a whole.

EDS has carried out a sustained expansión plan since 2004 with a total of U$S 55 million invested. "

The value of our investments in UOG, UKOG, BTHL and cash alone are worth more than our current mkt cap.

Add in Sunshine Minerals, Human Brands and our small investments in ZEN and ALBA, then our asset value is significantly more.

The results will be out very shortly which will confirm the current position.

Bloodshot, what is vague about declaring that both trading companies were profitable at the EBITDA level in the last trading year and that the full year accounts will be released in mid-February.

Also, confirmation that Kenya’s Port Authority has now approved the LPG facility and construction is to begin imminently.

All sounding very positive to me.

GFD makes up things as he goes along. He accuses me of being both a ramper and a deramper whilst at the same time slagging off the company and anyone else who has anything positive to say.

At least he did apologise for getting his facts totally wrong regarding my holding, but you do have to wonder what his real agenda is. He thinks it is okay to call everyone, but then gets very upset when anyone challenges him.

I will still be here with the same declared holding until the BPAC loan is paid off and the share price re-rates to a more sensible level.

If holding a share for almost four years makes me a trader, then I must be.

Now that the power plant is back in full production, it got me wondering what the power plant would cost to build today and what our 50% ownership of the plant may be worth.

Don't know if anyone has any expertise in this area, but so far I have only come across a 225MW combined-cycle gas turbine power plant being built in Turkey which has an estimated total project cost of $300m.

EdS has a 136MW capacity, which is clearly a lot less than 225MW, but I would still guess the cost to build a plant of that size today would be a material sum.

In 2005 Rurelec paid $6m for a 50% ownership of the then 77MW power plant, and a little later EdS borrowed £18m to expand the capacity to 136MW.

I would imagine a new off-take deal has been agreed with CAMESSA following the granting of the recent loan, and the fact that EdS have recommenced the repayment of the outstanding loans and interest to Rurelec is a very positive sign that the plant is generating both profit and income.

On a historic cost basis, EdS had a value of circa $30m, but I would imagine it would cost a lot more to build the same thing now.

Food for thought, but I still maintain our net assets are worth substantially more than the current mkt cap.