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AME
Highly Geared 28 Feb'13 - 08:32 - 1129 of 1131 0 0
These are extremely impressive results; look at some of the depths of strike from near surface down to 100 metres. 2g/t + over 75metres continuous is very good.
What this says to me is this area will be amenable to low cost open pit mining and they should be able to do further drilling to prove up a decent JORC with a good portion in the indicated status in fairly short order.
I'd stress again; its the combination of the near surface nature and the grade/length of intercept that is key. A blend of the results confirm to me that this can be developed into a low cost profitable open pit operation given time.
Hopefully the market will catch on as this resource/licence is developed...
Highly Geared 28 Feb'13 - 08:32 - 1129 of 1131 0 0
These are extremely impressive results; look at some of the depths of strike from near surface down to 100 metres. 2g/t + over 75metres continuous is very good.
What this says to me is this area will be amenable to low cost open pit mining and they should be able to do further drilling to prove up a decent JORC with a good portion in the indicated status in fairly short order.
I'd stress again; its the combination of the near surface nature and the grade/length of intercept that is key. A blend of the results confirm to me that this can be developed into a low cost profitable open pit operation given time.
Hopefully the market will catch on as this resource/licence is developed...
drewz
* 28 Feb'13 - 11:37 - 1133 of 1133* *0*0
I agree with britishb and sparty. AME could/should multibag from here.
I expect these drill results to be transformational for the company, yet the market has not twigged how good the prospects now are to prove up a low cost open pit mine with a commercial resource, such as are currently being mined in the region by the likes of Randgold and Avocet.
I expect the initial JORC resource to be quite modest, maybe in the region of 350,000oz.
However, given the width and grade intersections already found, and unexplored strike length, with further drilling I expect this initial resource may well be expanded to a much larger figure of 1.5moz-2moz over the next 2 - 3 years.
It is quite conceivable to imagine the company being bought out by the likes of Randgold if/when they understand the nature and size of this discovery and a figure of $120m - $150m should be achievable, given the low strip ratio near-surface characteristics of the prospective mine.
So a take out figure of 80p-100p/share in due course is not out of the question, particularly if the gold price takes off north of $2000/oz which some gold experts are predicting it will through 2014-15 as Japan/EU/US/UK all print money like mad to service their spiralling debts.
Consider the nature of the discovery, the context of where the discovery lies in relation to other commercial gold mines in this region, the pedigree and backgrounds of the management here, the low market cap/number of shares in issue, the cash on the balance sheet to fund further drilling.
Lots of ifs and buts at this early stage, of course, but vast multibagger potential if/when gold fever infects the junior gold universe as I expect it will in due course.
* 28 Feb'13 - 11:37 - 1133 of 1133* *0*0
I agree with britishb and sparty. AME could/should multibag from here.
I expect these drill results to be transformational for the company, yet the market has not twigged how good the prospects now are to prove up a low cost open pit mine with a commercial resource, such as are currently being mined in the region by the likes of Randgold and Avocet.
I expect the initial JORC resource to be quite modest, maybe in the region of 350,000oz.
However, given the width and grade intersections already found, and unexplored strike length, with further drilling I expect this initial resource may well be expanded to a much larger figure of 1.5moz-2moz over the next 2 - 3 years.
It is quite conceivable to imagine the company being bought out by the likes of Randgold if/when they understand the nature and size of this discovery and a figure of $120m - $150m should be achievable, given the low strip ratio near-surface characteristics of the prospective mine.
So a take out figure of 80p-100p/share in due course is not out of the question, particularly if the gold price takes off north of $2000/oz which some gold experts are predicting it will through 2014-15 as Japan/EU/US/UK all print money like mad to service their spiralling debts.
Consider the nature of the discovery, the context of where the discovery lies in relation to other commercial gold mines in this region, the pedigree and backgrounds of the management here, the low market cap/number of shares in issue, the cash on the balance sheet to fund further drilling.
Lots of ifs and buts at this early stage, of course, but vast multibagger potential if/when gold fever infects the junior gold universe as I expect it will in due course.
AME again. 'Cash conservation Strategy'. I think they had enough to see them through 2013 anyway but CEO taking a wage cut is a nice signal. I think this looks very good. They have outstanding warrants at I think 12.5p? So maybe they hope to get the share price above that level to provide further financing ?
SOLO / AEX generating some interest as bidding window closes
http://www.discussthemarket.com/solo-stream/
http://www.discussthemarket.com/solo-stream/
SOLO / AEX - recent BP press comments in Tanzania suggests they are very focused on getting involved in Tanzanian gas industry
http://allafrica.com/stories/201302220081.html
Tanzania: BP Eyes Investing in Natural Gas Search
22 FEBRUARY 2013
BP Oil, a firm that traded in petroleum business for many years in Tanzania, has expressed interest to invest in natural gas exploration and drilling in the country.
A delegation of BP senior officers led by their Vice- President in charge of Global Business Development Exploration and Access, Dr Jonathan Evans, presented the request to the Minister for Energy and Minerals, Prof Sospeter Muhongo.
Dr Evans said his company has been inspired by the information on availability of natural gas in the country and wish to try their luck.
Prof Muhongo said he welcomed the request, but noted that BP should be ready to compete openly with several others which have already presented their requests. "Our ministry intends to seriously run all of its activities in a fair and transparent manner in a way that anyone who appears to engage in corruption, even though it is just a rumour, will expel himself from the business," he said.
http://allafrica.com/stories/201302220081.html
Tanzania: BP Eyes Investing in Natural Gas Search
22 FEBRUARY 2013
BP Oil, a firm that traded in petroleum business for many years in Tanzania, has expressed interest to invest in natural gas exploration and drilling in the country.
A delegation of BP senior officers led by their Vice- President in charge of Global Business Development Exploration and Access, Dr Jonathan Evans, presented the request to the Minister for Energy and Minerals, Prof Sospeter Muhongo.
Dr Evans said his company has been inspired by the information on availability of natural gas in the country and wish to try their luck.
Prof Muhongo said he welcomed the request, but noted that BP should be ready to compete openly with several others which have already presented their requests. "Our ministry intends to seriously run all of its activities in a fair and transparent manner in a way that anyone who appears to engage in corruption, even though it is just a rumour, will expel himself from the business," he said.
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Buying Shares?
BMR lol
BMR lol
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AEX and SOLO should both benefit from a farmout of their interests
CaptainNelsonForties 4 Mar'13 - 08:21 - 35428 of 35432 0 0
Don't think they factor in market cap either as well as sentiment. 7.5mmbbls of US reserves, about 250Bcf off in Nyuni, KN and Ntorya. All onshore wells to date have hit gas (Likonde abandoned due to gas influx). AEX should never have been as low as a £40m market cap. And its not going to stay there by the looks of it. If the partner pays back past costs its gonna be a significant lump sum to AEX and we'll still have the US assets to sell + a large % interest in Ruvuma for a small company. Wells to date Likonde and Nyuni have already demonstrated the significant gas potential of the onshore Ruvuma and those quoted 30 odd interesed companieswill have seen all the data.
Since the majors wanted another month to have access to the data room obvoiusly there is something that interests them and something worth looking at. All for a tiny cap at present. Over bought my a**!
Captain Nelson Forties
CaptainNelsonForties 4 Mar'13 - 08:21 - 35428 of 35432 0 0
Don't think they factor in market cap either as well as sentiment. 7.5mmbbls of US reserves, about 250Bcf off in Nyuni, KN and Ntorya. All onshore wells to date have hit gas (Likonde abandoned due to gas influx). AEX should never have been as low as a £40m market cap. And its not going to stay there by the looks of it. If the partner pays back past costs its gonna be a significant lump sum to AEX and we'll still have the US assets to sell + a large % interest in Ruvuma for a small company. Wells to date Likonde and Nyuni have already demonstrated the significant gas potential of the onshore Ruvuma and those quoted 30 odd interesed companieswill have seen all the data.
Since the majors wanted another month to have access to the data room obvoiusly there is something that interests them and something worth looking at. All for a tiny cap at present. Over bought my a**!
Captain Nelson Forties
PVCS
CantEatValue 4 Mar'13 - 16:38 - 4803 of 4803 0 0
Not a subscriber but I get the gurufocus emails - pretty sure it got tipped in the Ben Graham Net-Net newsletter they do. They have got the investment thesis nicely summarised even in the email:
1. The company trades at 66.7% of NCAV.
2. The company had been profitable up until a supply glut pushed them into a loss-making position.
3. Management appears to be capable operators and stated they expect to return cash to shareholders in Q2 2013.
4. The company has €124m in cash, against a market cap of €54.7m.
5. Management expects the company to operate at breakeven in 2013, and be cash flow neutral.
6. The company is pursuing payment from two customers who owe for delivery under contract. It is unknown if a recovery is possible, but it could be a sweetener to the investment.
CantEatValue 4 Mar'13 - 16:38 - 4803 of 4803 0 0
Not a subscriber but I get the gurufocus emails - pretty sure it got tipped in the Ben Graham Net-Net newsletter they do. They have got the investment thesis nicely summarised even in the email:
1. The company trades at 66.7% of NCAV.
2. The company had been profitable up until a supply glut pushed them into a loss-making position.
3. Management appears to be capable operators and stated they expect to return cash to shareholders in Q2 2013.
4. The company has €124m in cash, against a market cap of €54.7m.
5. Management expects the company to operate at breakeven in 2013, and be cash flow neutral.
6. The company is pursuing payment from two customers who owe for delivery under contract. It is unknown if a recovery is possible, but it could be a sweetener to the investment.
CPX - Interim Results out. Not bad I'd say. £7m Market Cap company with annualised sales at present of c.$3m with c.$3m in cash and a couple of big blue sky opportunities in front of it.
One area of disappointment seems to be lack of Murata progress but they appear to be adding more sales resource and increasing plant investment so big tick in the box for validation so royalties should improve dramatically. They have already invested in a $50m plant which shows some significant faith and I think this SMD (Surface Mount Device) is crucial to get into Apple type products. Murata is an existing supplier of capacitors into Apple.
Another area of mild disappointment is lack of big name Auto partners yet but those sort of Companies are reknowned for being slow moving so as expected. Encouragingly they seem to engaging with multiple potential partners given the Countries they mentioned today.
One area of disappointment seems to be lack of Murata progress but they appear to be adding more sales resource and increasing plant investment so big tick in the box for validation so royalties should improve dramatically. They have already invested in a $50m plant which shows some significant faith and I think this SMD (Surface Mount Device) is crucial to get into Apple type products. Murata is an existing supplier of capacitors into Apple.
Another area of mild disappointment is lack of big name Auto partners yet but those sort of Companies are reknowned for being slow moving so as expected. Encouragingly they seem to engaging with multiple potential partners given the Countries they mentioned today.
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EOG - certainly getting some press coverage and presenting at Conferences etc Hopefully on news should light a fire under the price at some point
http://www.irishexaminer.com/business/europa-plans-to-expand-irish-interests-224420.html
http://www.irishexaminer.com/business/europa-plans-to-expand-irish-interests-224420.html
SOLO - two things spring to mind.
Bad - farm out news going to be delayed or otherwise negative so they get some cash in now ? But then why would placees take stock they'd be playing Russian roulette themselves ?
Good - It is like the 'fabled' GKP issue at 9p to 'friends and family' just prior to their massive initial drill result at Shaikan
Bad - farm out news going to be delayed or otherwise negative so they get some cash in now ? But then why would placees take stock they'd be playing Russian roulette themselves ?
Good - It is like the 'fabled' GKP issue at 9p to 'friends and family' just prior to their massive initial drill result at Shaikan
Eagle_Eye
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Didnt they give up seda?
Eagle_Eye
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Its rumoured to be going for a gas deal in Mozambique
GON - very poor RNS today but I think the share price reaction is rather overdone. The Company have admitted they may have cashflow problems but with Directors owning 30% and having previously provided loans to the Company it should not be terminal given they have businesses which do have revenue and cashflow earning potential. To have achieved game distribution through the large Chinese portals such as Q Zone is quite a big deal and I don't think a Market Capitalisation of the Company at it's current £1.9m reflects some of the positives.
Last full year results showed revenue of £10m with Gross Profit of £1m and Net Assets of £8m.
http://www.investegate.co.uk/galleon-holdings-plc-(gon)/rns/preliminary-results/201201300700123460W/
Last full year results showed revenue of £10m with Gross Profit of £1m and Net Assets of £8m.
http://www.investegate.co.uk/galleon-holdings-plc-(gon)/rns/preliminary-results/201201300700123460W/
GCM sounds like great news to me
Ultimately it needs Hasina's name attached to these stories but the Finance Minister seems to one of the few non-corrupt Bangladeshi politicians
http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDNfMDdfMTNfMV8xXzE2MjMyMQ==
Finance Minister AMA Muhith said on Wednesday that the government is planning to go for open pit coal extraction to get the maximum benefit of coal reserve.
Large scale dislocation of inhabitants, which is obvious in the case of open pit method, would not be a big concern for the government, Muhith said, adding "Appropriate rehabilitation programme for the affected people is being planned."
"We need more coal from our underground reserve. We are planning to opt for open pit coal extraction method so that maximum possible coal extraction takes place," Muhith told a meeting with business community, led by Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Kazi Akram Uddin Ahmed.
A decision on open pit method would be taken during the tenure of the incumbent government, Muhith said at the meeting, held at the conference room the finance ministry.
"Any method rather than open pit would yield less than 20 to 25 percent extraction though it will bear higher risks," he added.
Muhith said the recent spate of hartals and violence unleashed by Jamaat-Shibir activists was not 'anarchy', but 'an attempt to create anarchy'.
"Media has overplayed the incident of mayhem and violence of Jamaat-Shibir, which was not that serious as appeared in the newspapers and broadcasted in TV channels," the finance minister said.
Of the 15 districts that witnessed the trouble, six were the most troublesome, but the rest experienced trouble to some extent, he added.
Muhith said the violence that was created over the last few days was not widespread, but attempts were made to continue it.
He said it is the duty of the government to maintain law and order, saying the situation would come under full control within one or two days following his talks with the Home Minister.
The finance minister, expressing his high hope, said the economic growth in the current fiscal year will reach close to seven per cent.
He said the power generation would be little more than 7,000 MW by the end of this year and there would be no problem of power by 2016-17.
Businessmen at the meeting expressed their concern over the present political unrest.
In response, Muhith said there is no reason for lack of confidence as the economy is doing well.
He, however, acknowledged that problems in the macro-economy are still there and there is nothing to deny.
"Everyone is concerned about the bank interest rates; even the Bangladesh Bank Governor has also expressed his concern. Besides, there are some other problems in the banking sector, including settlement of L/Cs," Muhith told the meeting.
Referring to the recent surplus foreign currency reserve of over US$ 14 billion, Muhith said the excessive reserve may also turn bad because utilization in this regard is also important.
Kazi Akram Uddin Ahmed said that both the government and the opposition would have to come forward to resolve the ongoing political crisis.
"We want to get rid of the continuous turbulent political impasse, while discussion should take place with opposition leaders towards finding a solution," the FBCCI president told the meeting.
It would not work if one turns her face away from the other, the FBCCI chief said.
Mentioning that the businessmen are in danger in the wake of present political crisis, the FBCCI president said that an alternative way would have to be found out to come out of the critical situation.
Showing respect to the two major political parties, he said, "The politicians are patriots. I firmly believe they will never engage in destructive activities. Businessmen are now becoming hostages to the vindictive politics," Akram said.
Ultimately it needs Hasina's name attached to these stories but the Finance Minister seems to one of the few non-corrupt Bangladeshi politicians
http://www.thefinancialexpress-bd.com/index.php?ref=MjBfMDNfMDdfMTNfMV8xXzE2MjMyMQ==
Finance Minister AMA Muhith said on Wednesday that the government is planning to go for open pit coal extraction to get the maximum benefit of coal reserve.
Large scale dislocation of inhabitants, which is obvious in the case of open pit method, would not be a big concern for the government, Muhith said, adding "Appropriate rehabilitation programme for the affected people is being planned."
"We need more coal from our underground reserve. We are planning to opt for open pit coal extraction method so that maximum possible coal extraction takes place," Muhith told a meeting with business community, led by Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Kazi Akram Uddin Ahmed.
A decision on open pit method would be taken during the tenure of the incumbent government, Muhith said at the meeting, held at the conference room the finance ministry.
"Any method rather than open pit would yield less than 20 to 25 percent extraction though it will bear higher risks," he added.
Muhith said the recent spate of hartals and violence unleashed by Jamaat-Shibir activists was not 'anarchy', but 'an attempt to create anarchy'.
"Media has overplayed the incident of mayhem and violence of Jamaat-Shibir, which was not that serious as appeared in the newspapers and broadcasted in TV channels," the finance minister said.
Of the 15 districts that witnessed the trouble, six were the most troublesome, but the rest experienced trouble to some extent, he added.
Muhith said the violence that was created over the last few days was not widespread, but attempts were made to continue it.
He said it is the duty of the government to maintain law and order, saying the situation would come under full control within one or two days following his talks with the Home Minister.
The finance minister, expressing his high hope, said the economic growth in the current fiscal year will reach close to seven per cent.
He said the power generation would be little more than 7,000 MW by the end of this year and there would be no problem of power by 2016-17.
Businessmen at the meeting expressed their concern over the present political unrest.
In response, Muhith said there is no reason for lack of confidence as the economy is doing well.
He, however, acknowledged that problems in the macro-economy are still there and there is nothing to deny.
"Everyone is concerned about the bank interest rates; even the Bangladesh Bank Governor has also expressed his concern. Besides, there are some other problems in the banking sector, including settlement of L/Cs," Muhith told the meeting.
Referring to the recent surplus foreign currency reserve of over US$ 14 billion, Muhith said the excessive reserve may also turn bad because utilization in this regard is also important.
Kazi Akram Uddin Ahmed said that both the government and the opposition would have to come forward to resolve the ongoing political crisis.
"We want to get rid of the continuous turbulent political impasse, while discussion should take place with opposition leaders towards finding a solution," the FBCCI president told the meeting.
It would not work if one turns her face away from the other, the FBCCI chief said.
Mentioning that the businessmen are in danger in the wake of present political crisis, the FBCCI president said that an alternative way would have to be found out to come out of the critical situation.
Showing respect to the two major political parties, he said, "The politicians are patriots. I firmly believe they will never engage in destructive activities. Businessmen are now becoming hostages to the vindictive politics," Akram said.
08 Mar 13
Daily Mail (ThisIsMoney)
http://www.thisismoney.co.uk/money/...sources-firms-boost-projects-come-online.html
A pair of small cap oil firms had the market bubbling with anticipation this week.
The farm-out process for Aminex (up 5 per cent today at 5.73p) and Solo Oil’s (up 4 per cent today at 0.58p) exciting acreage in Tanzania is now drawing to a close.
Investors are waiting to see if the partners are able to lure state-backed oil companies or multi-national majors into the venture, which includes a known gas discovery and prime exploration ground close to the huge East African gas projects that are being developed by Anadarko and BG.
The original deadline for bids was recently extended to ‘early March’, and investors have keenly looked for signs of activity; each share gained as much as 40 per cent at one point this week.
David Lenigas, Solo chairman, serial entrepreneur and AIM dealmaker, took to social media on Tuesday as the deadline approached.
“Interesting few days at Solo Oil and my partners at Aminex,” he said on Twitter.
Overall, the small cap market has had its share of positivity this week as the FTSE AIM 100 snapped its recent losing streak. Standing at 3,350 today the small cap benchmark was up almost 2 per cent over the past five days.
“It has been a strong week for the small caps as risk appetite continues to rise,” said Atif Latif, director of trading at Guardian Stockbrokers.
“Much of the volume has been fresh money moving back in, awaiting developments in the market.”
Daily Mail (ThisIsMoney)
http://www.thisismoney.co.uk/money/...sources-firms-boost-projects-come-online.html
A pair of small cap oil firms had the market bubbling with anticipation this week.
The farm-out process for Aminex (up 5 per cent today at 5.73p) and Solo Oil’s (up 4 per cent today at 0.58p) exciting acreage in Tanzania is now drawing to a close.
Investors are waiting to see if the partners are able to lure state-backed oil companies or multi-national majors into the venture, which includes a known gas discovery and prime exploration ground close to the huge East African gas projects that are being developed by Anadarko and BG.
The original deadline for bids was recently extended to ‘early March’, and investors have keenly looked for signs of activity; each share gained as much as 40 per cent at one point this week.
David Lenigas, Solo chairman, serial entrepreneur and AIM dealmaker, took to social media on Tuesday as the deadline approached.
“Interesting few days at Solo Oil and my partners at Aminex,” he said on Twitter.
Overall, the small cap market has had its share of positivity this week as the FTSE AIM 100 snapped its recent losing streak. Standing at 3,350 today the small cap benchmark was up almost 2 per cent over the past five days.
“It has been a strong week for the small caps as risk appetite continues to rise,” said Atif Latif, director of trading at Guardian Stockbrokers.
“Much of the volume has been fresh money moving back in, awaiting developments in the market.”
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BPC - Exploration for Oil in the Bahamas - Game On ?
http://www.thebahamasweekly.com/pub...ation_in_The_Bahamas_The_Way_Ahead27115.shtml
Oil Exploration in The Bahamas: The Way Ahead
Mar 10, 2013 - 12: 33: 46 PM
Nassau, Bahamas - The following is a press statement by the Hon. Kenred Dorsett Minister of the Environment and Housing called, Oil Exploration in The Bahamas: The Way Ahead:
The fact that oil exploration is being pursued so seriously and systematically in such very close proximity to The Bahamas dictates that we hasten our own decision making process as it pertains to oil exploration and environmental regulation here in The Bahamas.
BPC response
http://www.eleutheranews.com/permalink/2990.html
http://www.thebahamasweekly.com/pub...ation_in_The_Bahamas_The_Way_Ahead27115.shtml
Oil Exploration in The Bahamas: The Way Ahead
Mar 10, 2013 - 12: 33: 46 PM
Nassau, Bahamas - The following is a press statement by the Hon. Kenred Dorsett Minister of the Environment and Housing called, Oil Exploration in The Bahamas: The Way Ahead:
The fact that oil exploration is being pursued so seriously and systematically in such very close proximity to The Bahamas dictates that we hasten our own decision making process as it pertains to oil exploration and environmental regulation here in The Bahamas.
BPC response
http://www.eleutheranews.com/permalink/2990.html
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SOLO looks good. Final technical signal I am looking for for a 'perfect' entry is a two day close above 0.6p
You can lose the will to trade such crap when you have likes of Lenigas and Ritson in the background but there is so much interest in East African gas you just have to assume as they have a seat at the bargaining table they will get some benefit and shareholders should get some scraps after the pigs have had their fill.
You can lose the will to trade such crap when you have likes of Lenigas and Ritson in the background but there is so much interest in East African gas you just have to assume as they have a seat at the bargaining table they will get some benefit and shareholders should get some scraps after the pigs have had their fill.
AME at Mining Maven event next week
http://www.miningmaven.com/investor-events/investor-evening-african-mining-a-exploration/
http://www.miningmaven.com/investor-events/investor-evening-african-mining-a-exploration/
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I had a small holding in FRR good rise today took profits as its a very slow mover .
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S28 - what you think of avocet mining AVM? Could be a good recovery play
Pretty sure they will have to do a very dilutive issue to get out of the 'hedge' they have in place with Macquarie. Only other alternative is Macquarie taking the whole Company over as their has been technical breach of covenants on debt ?
I'd let the dust settle on this. With Gold weak there is no rush to buy it.
I'd let the dust settle on this. With Gold weak there is no rush to buy it.
INFA looking good. Prospectivity review of one of their major licences suggests potential for 194 m barrels.
Just applying some simple risking say 7% CoS and further arbitrary 50% binary outcome risk factor you get to potential value now of $70m compared with current Market Cap of £14m
http://www.investegate.co.uk/infras...pdate-for-pl1-10-licence/201303180700111759A/
Just applying some simple risking say 7% CoS and further arbitrary 50% binary outcome risk factor you get to potential value now of $70m compared with current Market Cap of £14m
http://www.investegate.co.uk/infras...pdate-for-pl1-10-licence/201303180700111759A/
INFA
Chart was at technical support and overbought readings have been worked off.
Results also due this week.
Only disappointment I guess is drilling Q4 2013 rather than Q1/H1 2013. But this prospectivity review should aid farm out discussions ? Is selling 5% now to related party Brigantes some admission that negotiations for partnering stalled ?
SOLO CEO presenting to Investors in London on Thursday night.
From LSE BB tonight (many thanks to Alphasearch for taking the time to go to the presentation and reporting back):
Alphasearch
Posts: 55
Answer
Opinion: Strong Buy
Price: 0.53
NR's presentation + personal view
Excellent presentation by NR. He cleared up many points that have been concerning us. Here is a brief summary:-
1. Negotiations are being carried out with a number of different parties (no clue on who, but my guess is at least 3 and possibly many more)
2. Patience is required as a quick deal is very unlikely (we may be talking 2-3 months in my opinion)
3. Upside potential great - possibly even higher than the 1.5p target that has often been mentioned
4. There are many potential outcomes to the ongoing negotiations - one interesting possibility that Neil alluded to was that AEX/Solo would be very interested in the possibility of a deal that incorporated a 4-drill programme rather than the current 2 that was initially suggested.
5. NR made clear that there was no obligation for Solo to disclose the II in the two placings but rather for the II to disclose if it has greater than a 3% holding. My personal interpretation on this is the fact that there has been no disclosure suggests that the II no longer has a 3% + holding. That would suggest to me that the II was a stockbroker, which has likely sold (a very small number of shares in the open market) and placed the remainder with PIs perhaps retaining a 2.9% stake.
6. Reef a sideshow until deal is done - Solo will not put more money in Reef until project shows a reasonable prospect of making a good return. Reef does not have the money to go it alone (buy gas to increase pressure beyond 10%) nor arguably the technical expertise. Best scenario appears to me that Solo sells its WI to a 3rd party or that Reef is taken over by a financially strong more technically competent operator. Reef was only ever meant to provide a modest cash-flow. 90% (NR's view) of Solo's value lies really in Tanzania.
7. In my opinion a hostile bid of 2p per share for Solo prior to further drills would likely be accepted and recommended by NR and Lenigas /BOD.
8. 3D seismic on land is very expensive (compared with the sea) so much cheaper to drill at £10m a pop (compared with £50m offshore) even with limited data.
9. The offshore gas will likely all go to LNG for export to India and China and takes 10 years plus to come on stream/commission. Whereas AEX/Solo's gas could be commissioned within 18 months.
10. This leaves only Wentworth Resources + AEX/Solo as being able to only part fill that very large pipeline that the Chinese are building that will be commissioned in just under 2 years.
11. Interestingly, NR alluded to the fact that one/possibly more parties that may be involved in discussions are not that interested in the gas find to date per se but rather in the strategic importance of AEX/Solo's position because only Wentworth Resources and AEX/SOLO, as things stand, will be to dogs at the table with the Tanzanian Government when negotiating future gas prices/contracts.
Conclusion: 4 bagger potential with no further drills (3-6 months time frame). 5-10 bagger potential if Solo exists in 12 to 18 months
From LSE BB tonight (many thanks to Alphasearch for taking the time to go to the presentation and reporting back):
Alphasearch
Posts: 55
Answer
Opinion: Strong Buy
Price: 0.53
NR's presentation + personal view
Excellent presentation by NR. He cleared up many points that have been concerning us. Here is a brief summary:-
1. Negotiations are being carried out with a number of different parties (no clue on who, but my guess is at least 3 and possibly many more)
2. Patience is required as a quick deal is very unlikely (we may be talking 2-3 months in my opinion)
3. Upside potential great - possibly even higher than the 1.5p target that has often been mentioned
4. There are many potential outcomes to the ongoing negotiations - one interesting possibility that Neil alluded to was that AEX/Solo would be very interested in the possibility of a deal that incorporated a 4-drill programme rather than the current 2 that was initially suggested.
5. NR made clear that there was no obligation for Solo to disclose the II in the two placings but rather for the II to disclose if it has greater than a 3% holding. My personal interpretation on this is the fact that there has been no disclosure suggests that the II no longer has a 3% + holding. That would suggest to me that the II was a stockbroker, which has likely sold (a very small number of shares in the open market) and placed the remainder with PIs perhaps retaining a 2.9% stake.
6. Reef a sideshow until deal is done - Solo will not put more money in Reef until project shows a reasonable prospect of making a good return. Reef does not have the money to go it alone (buy gas to increase pressure beyond 10%) nor arguably the technical expertise. Best scenario appears to me that Solo sells its WI to a 3rd party or that Reef is taken over by a financially strong more technically competent operator. Reef was only ever meant to provide a modest cash-flow. 90% (NR's view) of Solo's value lies really in Tanzania.
7. In my opinion a hostile bid of 2p per share for Solo prior to further drills would likely be accepted and recommended by NR and Lenigas /BOD.
8. 3D seismic on land is very expensive (compared with the sea) so much cheaper to drill at £10m a pop (compared with £50m offshore) even with limited data.
9. The offshore gas will likely all go to LNG for export to India and China and takes 10 years plus to come on stream/commission. Whereas AEX/Solo's gas could be commissioned within 18 months.
10. This leaves only Wentworth Resources + AEX/Solo as being able to only part fill that very large pipeline that the Chinese are building that will be commissioned in just under 2 years.
11. Interestingly, NR alluded to the fact that one/possibly more parties that may be involved in discussions are not that interested in the gas find to date per se but rather in the strategic importance of AEX/Solo's position because only Wentworth Resources and AEX/SOLO, as things stand, will be to dogs at the table with the Tanzanian Government when negotiating future gas prices/contracts.
Conclusion: 4 bagger potential with no further drills (3-6 months time frame). 5-10 bagger potential if Solo exists in 12 to 18 months
PVCS
http://www.investorschronicle.co.uk...sh-return-omzDPWWWTPuZ5lkKlksFwO/article.html
IC VIEW:
PV Crystalox is priced on a hefty discount to its 18p a share cash pile and well below a liquidation value of 13p a share estimated by broker Peel Hunt. There is obvious risk here, but if the business can turn cash neutral this year then the cash return is likely to be sizeable. Trading buy.
Last IC view: Buy, 12.1p, 21 January 2013
http://www.investorschronicle.co.uk...sh-return-omzDPWWWTPuZ5lkKlksFwO/article.html
IC VIEW:
PV Crystalox is priced on a hefty discount to its 18p a share cash pile and well below a liquidation value of 13p a share estimated by broker Peel Hunt. There is obvious risk here, but if the business can turn cash neutral this year then the cash return is likely to be sizeable. Trading buy.
Last IC view: Buy, 12.1p, 21 January 2013
Volume breakout ?
Previous statement : January 16th
"The Board of IRG wishes to announce that it is considering a range of strategic alternatives to enhance shareholder value which may include farm outs, the sale of assets, and the merger or sale of the Company."
Interesting initial move. Will be interesting if there is any news to back it up and subsequent volume.
IRG -
http://www.investegate.co.uk/independentresources--irg-/rns/2013-strategy/201304020830052862B/
Independent Resources plc
("IRG" or "the Company")
2013 strategy
2 April 2013
The Company is pleased to outline its strategy for 2013.
Existing portfolio
With respect to the Company's existing assets, the focus will be on retaining exposure to the upside of the existing portfolio with minimum expenditure; in particular:
· San Gervasio- finalise award and bring on stream by the end of the year
· Rivara- preserve option value while minimizing expenditure
· Ribolla - secure a farm out partner to conduct phase 1 appraisal
· Ksar Hadada - secure a farm out partner to drill in 2013/2014
· Sibilla - study and research as required.
Target acquisitions
The Company intends to make acquisitions of oil and gas assets in the Mediterranean basin utilizing its relationships and technical and operational capability focused on:
· underdeveloped and de-risked oil and gas fields
· low cost, onshore and shallow water production and developments
· assets in Turkey, Egypt, Italy, Tunisia and other Black Sea countries.
http://www.investegate.co.uk/independentresources--irg-/rns/2013-strategy/201304020830052862B/
Independent Resources plc
("IRG" or "the Company")
2013 strategy
2 April 2013
The Company is pleased to outline its strategy for 2013.
Existing portfolio
With respect to the Company's existing assets, the focus will be on retaining exposure to the upside of the existing portfolio with minimum expenditure; in particular:
· San Gervasio- finalise award and bring on stream by the end of the year
· Rivara- preserve option value while minimizing expenditure
· Ribolla - secure a farm out partner to conduct phase 1 appraisal
· Ksar Hadada - secure a farm out partner to drill in 2013/2014
· Sibilla - study and research as required.
Target acquisitions
The Company intends to make acquisitions of oil and gas assets in the Mediterranean basin utilizing its relationships and technical and operational capability focused on:
· underdeveloped and de-risked oil and gas fields
· low cost, onshore and shallow water production and developments
· assets in Turkey, Egypt, Italy, Tunisia and other Black Sea countries.
RHPS - I would like to end my subscription as I don't think his tips are value for money but it's worthwhile knowing what Bulford is ramping to his subscribers. Tipsheets which seem to be regarded well are SCSW Small Company ShareWatch http://www.scsw.co.uk/ and Techinvest http://www.techinvest.ie/ . You can download a sample copy of Techinvest Jan 2013 from their website.
http://www.techinvest.ie/downloads/sample.pdf
http://www.techinvest.ie/downloads/sample.pdf
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Interestingly they have CPX as part of their portfolio but had a suggested stop loss at 8.75p. That might explain recent drop. I do think CPX is a great long term option play but there have clearly been some issues in the background which has prevented progress so far. I don't think they are short of cash so will look to buy more in coming weeks.
GCM
http://energybangla.com/2013/04/02/2595.html#.UVrqGZM3uM4
Akram Hossain from Birampur:
02 April 2013
Dinajpur Dakkhin Purbanchal Unnayon Front (DDPUF), a new platform has formally declared its inception with the objective of regional development focusing on three key areas, social development, infrastructural development and mineral resources development. The organisers on their first public appearance clearly articulated that their main objective is to create a coordinated movement drawing people together from all walks of life for development of south-east Dinajpur region, effectively opposing all anti-development activities. While it is often being highlighted or focused in the media that local communities are against mineral resource development especially coal mine development, many consider this movement of development will give a new dimension to the position of locals regarding mineral resource extraction in the
region. It is hoped that Phulbari Coal Project, a fully FDI supported project, which has been suffering for long in the name of local opposition might get a fresh breathing space and new hope from this local movement of development, comprising leaders of all major political parties and civil society representatives.
A colourful rally, cultural show by ethnic minority people, mass gathering and press conference were organised in south-eastern Upazila Birampur of Dinajpur on Friday last on the occasion of formal inauguration of the journey of DDPUF. It is worth mentioning that although the coal deposit of this area is popularly known as Phulbari but the coal basin is extended almost equally over the neighboring four Upazilas, Birampur, Nawabganj, Parbatipur and Phulbari. In the inception program of this development front, more than 1000 people from Birampur and Phulbari including people from ethnic minority groups took part in the rally with the slogan `strength in development, strength in progress’. The participation was very spontaneous, irrespective of political, social identity and views. At the end of the rally a public gathering was arranged at Dhaka Morh. Later the organisers met journalists in a press conference at Mowla Super market and replied various question and queries. Khairul Alam Raju, Chairman, Birampur Upazila and President of Upazila Awami League and chief advisor of DDPUF said, `our main objective is to create a coordinated movement to continue the pace of development in this region. We are committed to move forward towards the path of development opposing all anti-development activities’. Tosaddek Hussain Tosa, Upazila BNP leader and convenor of the Front said, `We want Birampur to be a district and also want development of Phulbari mine for the interest of local and regional development. There is no alternative of these for overall development and employment generation. We have to be united to achieve the goals’.
Among others Rezaul Karim Reju, publicity secretary of district BNP, Prof. Selim Rana, organising secretary and Mamunur Rashid, office secretary of Upazila Awami League, Komor Selim, general secretary of Upazila BNP, Shah Alam Biswas, president of JSD, Mijanur Rahman, leader of Jatiya Party, Nuruzzaman Raza, community leader of Phulbari, Nawab Ali Sarker, convenor, Sechchasebok Dal of Phulbari, Mahbubur Rahman, councillor, Birampur Municipality, Prof. Arifur Rahman, Jubaidur Rahman Jewel, Shawkat Ali were present in the public gathering and press conference.
In a written statement, the organisers in the press conference declared that working for social and infrastructural development of the whole region along with development of mineral resources was one of their main objectives. Regarding mineral resources development, the statement emphasized on appropriate extraction and best utilisation of mineral resources, proper compensation and rehabilitation of affected people, priority in employment of locals, establishment of medium and large scale industries and uninterrupted power supply.
Birampur wants regional Development with mineral resource
While politically the country is passing through a very turbulent and uncertain situation, it is commendable to see people irrespective of their political identity and views are unitedly on the street in raising their demand of development of south-eastern Dinajpur including the development of mineral resources of the region. And while it is heard about movement in Phulbari to protect coal resource development, then such united movement for development opposing all anti-development activities for the greater interest of the region are being seen by many as new sign of way out in resolving so called local obstruction for mineral resource extraction in the area. If the government, Asia Energy, the project proponent of Phulbari Coal Project, and other stakeholders interested in mineral resource extraction can read the message of local desire and expectation regarding development, then no one can derail Bangladesh from the path of gaining self-reliant in energy through effectively meet energy and power crisis of the country.
http://energybangla.com/2013/04/02/2595.html#.UVrqGZM3uM4
Akram Hossain from Birampur:
02 April 2013
Dinajpur Dakkhin Purbanchal Unnayon Front (DDPUF), a new platform has formally declared its inception with the objective of regional development focusing on three key areas, social development, infrastructural development and mineral resources development. The organisers on their first public appearance clearly articulated that their main objective is to create a coordinated movement drawing people together from all walks of life for development of south-east Dinajpur region, effectively opposing all anti-development activities. While it is often being highlighted or focused in the media that local communities are against mineral resource development especially coal mine development, many consider this movement of development will give a new dimension to the position of locals regarding mineral resource extraction in the
region. It is hoped that Phulbari Coal Project, a fully FDI supported project, which has been suffering for long in the name of local opposition might get a fresh breathing space and new hope from this local movement of development, comprising leaders of all major political parties and civil society representatives.
A colourful rally, cultural show by ethnic minority people, mass gathering and press conference were organised in south-eastern Upazila Birampur of Dinajpur on Friday last on the occasion of formal inauguration of the journey of DDPUF. It is worth mentioning that although the coal deposit of this area is popularly known as Phulbari but the coal basin is extended almost equally over the neighboring four Upazilas, Birampur, Nawabganj, Parbatipur and Phulbari. In the inception program of this development front, more than 1000 people from Birampur and Phulbari including people from ethnic minority groups took part in the rally with the slogan `strength in development, strength in progress’. The participation was very spontaneous, irrespective of political, social identity and views. At the end of the rally a public gathering was arranged at Dhaka Morh. Later the organisers met journalists in a press conference at Mowla Super market and replied various question and queries. Khairul Alam Raju, Chairman, Birampur Upazila and President of Upazila Awami League and chief advisor of DDPUF said, `our main objective is to create a coordinated movement to continue the pace of development in this region. We are committed to move forward towards the path of development opposing all anti-development activities’. Tosaddek Hussain Tosa, Upazila BNP leader and convenor of the Front said, `We want Birampur to be a district and also want development of Phulbari mine for the interest of local and regional development. There is no alternative of these for overall development and employment generation. We have to be united to achieve the goals’.
Among others Rezaul Karim Reju, publicity secretary of district BNP, Prof. Selim Rana, organising secretary and Mamunur Rashid, office secretary of Upazila Awami League, Komor Selim, general secretary of Upazila BNP, Shah Alam Biswas, president of JSD, Mijanur Rahman, leader of Jatiya Party, Nuruzzaman Raza, community leader of Phulbari, Nawab Ali Sarker, convenor, Sechchasebok Dal of Phulbari, Mahbubur Rahman, councillor, Birampur Municipality, Prof. Arifur Rahman, Jubaidur Rahman Jewel, Shawkat Ali were present in the public gathering and press conference.
In a written statement, the organisers in the press conference declared that working for social and infrastructural development of the whole region along with development of mineral resources was one of their main objectives. Regarding mineral resources development, the statement emphasized on appropriate extraction and best utilisation of mineral resources, proper compensation and rehabilitation of affected people, priority in employment of locals, establishment of medium and large scale industries and uninterrupted power supply.
Birampur wants regional Development with mineral resource
While politically the country is passing through a very turbulent and uncertain situation, it is commendable to see people irrespective of their political identity and views are unitedly on the street in raising their demand of development of south-eastern Dinajpur including the development of mineral resources of the region. And while it is heard about movement in Phulbari to protect coal resource development, then such united movement for development opposing all anti-development activities for the greater interest of the region are being seen by many as new sign of way out in resolving so called local obstruction for mineral resource extraction in the area. If the government, Asia Energy, the project proponent of Phulbari Coal Project, and other stakeholders interested in mineral resource extraction can read the message of local desire and expectation regarding development, then no one can derail Bangladesh from the path of gaining self-reliant in energy through effectively meet energy and power crisis of the country.
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PLMO David Lenigas has come on Board. Quite a statement of intent. They have a small amount of cash £1.3m odd. But that could go a long way in the current market if they can target near production small operators and gain a decent royalty stream position. With Directors having given themselves options at 0.20p about the current share price this should act as a decent base for any upcoming newsflow.
"Polemos Plc looks forward to David Lenigas taking the position of Executive Chairman of the Company and the board intends to broaden its investment strategy by seeking investments in oil and gas royalty streams on a global basis. The board endeavours to turn this Company around from the failings of the previous management."
"Polemos Plc looks forward to David Lenigas taking the position of Executive Chairman of the Company and the board intends to broaden its investment strategy by seeking investments in oil and gas royalty streams on a global basis. The board endeavours to turn this Company around from the failings of the previous management."
Latest issue of RHPS is out.
INFA got tipped mainly for its Gas storage potential although I think it's oil exploration is the more immediate excitement. Apparently Arden Partners have a note out with potential success case valuation of 230p but a 'risked' target of 38p.
INFA got tipped mainly for its Gas storage potential although I think it's oil exploration is the more immediate excitement. Apparently Arden Partners have a note out with potential success case valuation of 230p but a 'risked' target of 38p.
CPX
Audio interview with CEO re recent news and future potential
http://www.brrmedia.com/event/111086/cap-xx-stop-start
Audio interview with CEO re recent news and future potential
http://www.brrmedia.com/event/111086/cap-xx-stop-start
jaspa888
Local Club Star
- Joined
- Aug 1, 2007
- Runs
- 1,984
Buying Shares?
Good update from XEL. Should see movement towards 200p in the next 3 months. Nice to tuck away in the ISA.
EOG continues to disappoint. You still in boys? Seriously considering chucking to chase other shadows..
Good update from XEL. Should see movement towards 200p in the next 3 months. Nice to tuck away in the ISA.
EOG continues to disappoint. You still in boys? Seriously considering chucking to chase other shadows..
Eagle_Eye
ODI Debutant
- Joined
- Jan 11, 2010
- Runs
- 9,954
Xel wil be bought out IMO. Probabaly the most safest investment on AIM
The forced exercise of warrants at 135 is a block on sp rise.
The forced exercise of warrants at 135 is a block on sp rise.
Eagle_Eye
ODI Debutant
- Joined
- Jan 11, 2010
- Runs
- 9,954
Never got into EOG aside from a brief stint. Who you thinking of going for?
LRL - news in the next few months
BLVN - short term spike on flow rates
The miners have taken a real battering. Some of the high risk ones I have eyes on:
NYO could re-rate on mining license. Centamin may then increase their stake.
RRR could re-rate on greenland sale completion. The mcap is sitting close to what they will get from sale if it goes through..
EOG thesis behind it was that there was limited downside due to production and thus limited need for dilutive placings. whilst upside from Holmwood, Wressel and shale gas and Irish oil.
Been a shift to right in some of those but they haven't gone away.
Been a shift to right in some of those but they haven't gone away.
jaspa888
Local Club Star
- Joined
- Aug 1, 2007
- Runs
- 1,984
Buying Shares?
EE - I'm not sure yaar. I've been out of the loop for a few weeks so research needs to be done. My gut feel was taking me towards CPX to be honest...
Views appreciated, as always.
EE - I'm not sure yaar. I've been out of the loop for a few weeks so research needs to be done. My gut feel was taking me towards CPX to be honest...
Views appreciated, as always.
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