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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Afnat Resources | LSE:AFNR | London | Ordinary Share | BMG186501042 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 2.50 | GBX |
Afnat Resources (AFNR) Share Charts1 Year Afnat Resources Chart |
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1 Month Afnat Resources Chart |
Intraday Afnat Resources Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 13/12/2010 | 09:17 | AFNAT RESOURCES | 285 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 21/5/2010 17:14 by marben100 Thanks for the update, rpmWith the market falling out of bed since the IPO was proposed, not too surprising that FD may not have been able to get it away. However, I kept CDC in my calcs @ cost anyway, so no matter, short-term. Maybe FD can get it away later in the year? I still make AfNat's NTAV 2.5p/share (including 1.5p/share of cash), but at their current share price & exchange rates, the Axmin shares will be worth 2.8p/share. I am happy to continue holding a few and see how events unfold... Cheers, Mark |
Posted at 18/5/2010 07:19 by rastapastamasta The bridging loan announcement makes the TO look more certain. Yet it coincides with falls in both AFNR and AXM share prices. Any thoughts as to why?rpm |
Posted at 21/4/2010 08:56 by encarter The best way to look at it is this.We will end up with 514m Axmin shares in issue, at todays bid 10.5c = 6.8p. 514 x 6.8p = £35m and Afnat holders get 40% of that which is £14m. 421m shares into £14m = about 3.3p or if i'm correct about the statement on 14th April then 411m share into £14m = 3.4p. So as things stand these are still way too cheap. As i have said imho the mms have got their maths wrong and are calculating the share price at 40% of the Axmin share price Regardless, over the medium term Axmins shareprice should perform well as they will have plenty of cash to develop their interests. However share prices don't usually go up in a straight line so the real profit is to be made over the next few months, all imho. |
Posted at 21/4/2010 01:09 by marben100 No, I am not wrong - I did not use 40% in my calculation. To spell it out: there are 421.5m Afnat shares in issue (after the lastest option exercise). These will acquire 206m Axmin shares, i.e., each Afnat share will become 206/421.5 Axmin shares, so with a share price of CDN0.105, that means each Afnat gets you CDN0.105*206/421.5 worth of Axmin = CDN0.0513 = 3.3p at current exchange rates.OK? |
Posted at 14/4/2010 14:56 by chasbos For immediate release 14 April 2010 AfNat Resources Limited ("AfNat" or the "Company") Arrangement Agreement signed with AXMIN Inc. Further to the announcement on 18 March 2010 by AfNat (AIM.AFNR) that the Company had signed a Letter of Intent ("LOI") with AXMIN Inc ("AXMIN") (TSX Venture: AXM), the Company is pleased to announce that the parties have now executed a binding definitive agreement ("Arrangement Agreement") setting out the terms on which AXMIN will acquire all of the issued and to be issued share capital of AfNat by way of scheme of arrangement (the "Transaction"). The Transaction is expected to be completed by way of a scheme of arrangement under the laws of Bermuda. The Transaction is and will be subject to a number of conditions including the approval of the TSX Venture Exchange, all other regulatory approvals, and the sanctioning of the scheme by the Supreme Court of Bermuda. In addition AfNat will be required to, among other things, convene and hold a Court ordered meeting of its shareholders to approve the Transaction ("Court Meeting"). A majority in number representing 75% in value of AfNat shareholders voting at the Court Meeting must approve the scheme. Immediately after the Court Meeting the Company shall also hold a special general meeting ("SGM"), at which resolutions to implement the Transaction will be considered and, as a condition of the Transaction, approved by shareholders. Concurrently with the execution of the Arrangement Agreement certain shareholders of AfNat have entered into voting undertakings with AXMIN, who collectively represent approximately 9.6% of the outstanding AfNat Shares, to vote in favour of the Transaction at the Court Meeting and the SGM. In consideration for the acquisition by AXMIN of the issued and outstanding securities of AfNat under the Transaction, AXMIN would issue an aggregate of approximately 206,328,666 common shares of AXMIN to former holders of ordinary shares of AfNat and an aggregate of approximately 14,961,941 share purchase warrants to acquire common shares of AXMIN and to former holders of convertible securities of AfNat. The number of common shares to be issued, and share purchase warrants to be granted, may change depending on the number (if any) of holders of convertible securities of AfNat who exercise their convertible right prior to completion of the Transaction. It is anticipated that after following the issue of such shares and warrants, former shareholders of AfNat will hold in aggregate approximately 40% of the issued and outstanding shares of AXMIN (or 42% approximately on a partially-diluted basis). |
Posted at 12/4/2010 08:01 by cliley454 AFNR research.Assets. Mitaba nickel prospecting licence, Zambia - £? This licence has only recently been renewed and is now ready to move forward. Mavita nickel project, Mozambique - £? "The Board is eager to move ahead with its exploration projects in Mozambique and Zambia." 51% stake in 5 licences to explore for and mine uranium in Zambia - £? Joint venture partner Zambezi Resources 49%. Afnat has spent $3m+ on these licences to date. Investment in Copper Development Corporation - £1.8m This was a private placing and once CDC become a listed company the value of this investment will increase considerably. CDC plan to list Q2 this year. Cash and marketable securities £9.75m. This includes 11.7% of Niger Uranium (URU) who hold 13.6m KAH shares and intend to distribute the majority to shareholders shortly. This gives a conservative valuation of £12m or 3p a share. This is before any expected developments. Then along comes Axmin (TSX: AXM). They've put in an offer for AFNR at 1 AXM share for every 2 AFNR shares. Today AXMs bid stands at 0.115c which converts to 7.5p. 1 for 2 gives an instant return of 3.75p. However AXM holds multiple world class gold plays in central and west Africa, which they are building a war chest to develop. The year high is 0.15c = 5p per AFNR share. 3 year high is over cd$1.00 = 30p+ per share. Downside from here is zero upside is massive. |
Posted at 09/4/2010 08:33 by cliley454 The market is finally waking up to these so here's the research update for anyone looking at these for the first time.AFNR research. Assets. Mitaba nickel prospecting licence, Zambia - £? This licence has only recently been renewed and is now ready to move forward. Mavita nickel project, Mozambique - £? "The Board is eager to move ahead with its exploration projects in Mozambique and Zambia." 51% stake in 5 licences to explore for and mine uranium in Zambia - £? Joint venture partner Zambezi Resources 49%. Afnat has spent $3m+ on these licences to date. Investment in Copper Development Corporation - £1.8m This was a private placing and once CDC become a listed company the value of this investment will increase considerably. CDC plan to list Q2 this year. Cash and marketable securities £9.75m. This includes 11.7% of Niger Uranium (URU) who hold 13.6m KAH shares and intend to distribute the majority to shareholders shortly. This gives a conservative valuation of £12m or 3p a share. This is before any expected developments. Then along comes Axmin (TSX: AXM). They've put in an offer for AFNR at 1 AXM share for every 2 AFNR shares. Today AXMs bid stands at 0.095c which converts to 6.2p. 1 for 2 gives an instant return of 3.1p. However AXM holds multiple world class gold plays in central and west Africa, which they are building a war chest to develop. The year high is 0.15c = 5p per AFNR share. 3 year high is over cd$1.00 = 30p+ per share. Downside from here is zero upside is massive. |
Posted at 08/4/2010 08:02 by cliley454 AFNR research.Assets. Mitaba nickel prospecting licence, Zambia - £? This licence has only recently been renewed and is now ready to move forward. Mavita nickel project, Mozambique - £? "The Board is eager to move ahead with its exploration projects in Mozambique and Zambia." 51% stake in 5 licences to explore for and mine uranium in Zambia - £? Joint venture partner Zambezi Resources 49%. Afnat has spent $3m+ on these licences to date. Investment in Copper Development Corporation - £1.8m This was a private placing and once CDC become a listed company the value of this investment will increase considerably. CDC plan to list Q2 this year. Cash and marketable securities £9.75m. This includes 11.7% of Niger Uranium (URU) who hold 13.6m KAH shares and intend to distribute the majority to shareholders shortly. This gives a conservative valuation of £12m or 3p a share. This is before any expected developments. Then along comes Axmin (TSX: AXM). They've put in an offer for AFNR at 1 AXM share for every 2 AFNR shares. Today AXMs bid stands at 0.09c which converts to 5.9p. 1 for 2 gives an instant return of 2.95p. However AXM holds multiple world class gold plays in central and west Africa, which they are building a war chest to develop. The year high is 0.15c = 5p per AFNR share. 3 year high is over cd$1.00 = 30p+ per share. Downside from here is zero upside is massive. |
Posted at 06/4/2010 13:38 by andrbea a poster (19,3,10 - iii-afnr)We have previosly discussed on this board the links of AFNR's management to Stephen Dattels &co. I found it interesting that today African Barrick lists on the London stock exchange. Toronto based Barrick Gold, the worlds biggest gold producer will retain a 75% holding. Guess who spent many years at Barrick-Stephen Dattels!! But most interesting is the reason given for the spin off of African Barrick namely a strong interest in African mining assets and gold among London Investors. The proposed AFNR deal does exactly the opposite by taking the listing to Canada. May be the proposed deal needs rethinking so that AFNR takes over the Canadian company and retains its London listing. |
Posted at 06/4/2010 07:58 by cliley454 AFNR research.Assets. -Mitaba nickel prospecting licence, Zambia - £? This licence has only recently been renewed and is now ready to move forward. -Mavita nickel project, Mozambique - £? "The Board is eager to move ahead with its exploration projects in Mozambique and Zambia." -51% stake in 5 licences to explore for and mine uranium in Zambia - £? Joint venture partner Zambezi Resources 49%. Afnat has spent $3m+ on these licences to date. -Investment in Copper Development Corporation - £1.8m This was a private placing and once CDC become a listed company the value of this investment will increase considerably. CDC plan to list Q2 this year. -Cash and marketable securities £9.75m. This includes 11.7% of Niger Uranium (URU) who hold 13.6m KAH shares and intend to distribute the majority to shareholders shortly. This gives total assets of £12m+ or 3p+ a share. This is before any expected developments. Then along comes Axmin (TSX: AXM). They've put in an offer for AFNR at 1 AXM share for every 2 AFNR shares. Today AXMs bid stands at 0.08c which converts to 5.2p. 1 for 2 gives an instant return of 2.6p. However AXM holds multiple world class gold plays in central and west Africa, which they are building a war chest to develop. The year high is 0.15c = 5p per AFNR share. 3 year high is over cd$1.00 = 30p+ per share. Downside from here is zero upside is massive. |
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