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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| African Aura | AAAM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 186.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 186.50 |
| Top Posts |
|---|
Posted at 15/4/2011 08:22 by fireplace22 Cant seem to get back to the old news on AAAM so cant grasp this split. Apparently I've got one share of AUE and AFF for each share in AAAM. But what is the Capital split eg for £4000 of AAAM is now worth what as AFF and AUE? TIA. |
Posted at 12/4/2011 17:17 by nomunnofun Dunc8 - where have you been?If you have held,say,1000 AAAM since 7th April, tomorrow you will 1000 AFF shares and 1000 AUE shares. The value of both may or may not equal what your AAAM holding was worth on the 7th. AAAM ceased to exist 45 mins ago - you cannot buy them at any price any more. |
Posted at 07/4/2011 18:31 by anresu hbPerhaps it will help you understand if you regard Aureus shares as a dividend. AAAM shares go xd today. If you buy AAAM shares tomorrow, you will not get the dividend but the person selling the shares will. Regard 13th April as the payment day. |
Posted at 07/4/2011 15:27 by smoking gun I posted this earlierI hold shares but also have 2 SB's so have spoken to IG They have told me that 1 of 2 things will happen. Firstly AAAM may delist tomorrow and therefore will not be tradeable until the 13th under the new co. I guess we would have already known this if this was to happen? Secondly, (for anyone concerned about their SB tomorrow) they get a price on AAAM ~15 minutes before the open and if it is considerably lower they will adjust stop losses accordingly. For example, if the 2 co's were equally valued at 50% each and AAAM dropped by 50% tomorrow to reflect the gold being removed then your stop losses will adjust accordingly. I have been told there is nothing to worry about! |
Posted at 07/4/2011 12:31 by richgit Just to simplify things for those losing their brain cells.Today- We holders own just AAAM at £3.10 and corresponding Market Cap Value. Tomorrow We will own AAAM representing the Gold & Diamonds at that value the Market puts on it + The iron ore at that value. So tomorrow AAAM wont be £3 a share,yet you add AAAM + the iron Ore and thats what you own. Those that dont own any stock today can buy AAAM tomorrow if they consider its value too low for all the Gold and Diamonds,and or buy the Iron Ore if they consider that too low in value. It really is simple. On 13th AAAM- that Tomorrow represents - just the Gold & Diamonds -will simply change its name and ticker code on 13th- that is all. |
Posted at 07/4/2011 12:13 by smoking gun I hold shares but also have 2 SB's so have spoken to IGThey have told me that 1 of 2 things will happen. Firstly AAAM may delist tomorrow and therefore will not be tradeable until the 13th under the new co. I guess we would have already known this if this was to happen? Secondly, (for anyone concerned about their SB tomorrow) they get a price on AAAM ~15 minutes before the open and if it is considerably lower they will adjust stop losses accordingly. For example, if the 2 co's were equally valued at 50% each and AAAM dropped by 50% tomorrow to reflect the gold being removed then your stop losses will adjust accordingly. I have been told there is nothing to worry about! |
Posted at 07/4/2011 10:53 by richgit LongsightI concur. Traders will have to do some nifty valuations calculating the overall value of the 2 as AAAM will indeed represent what will be the new Gold etc.and will obviously be valued at that level with the split off. Thus if for any reason some do sell down what remains of AAAM it could be bargain time,and that will be the judgement. AAAM will be trading as the Market value of the Gold and the fact it will change its ticker code on the 13th is irrelivant. So watch for any ignorance from the so called Market and get calculating for any bargain thrown up. |
Posted at 07/4/2011 10:25 by longsight unionhall - my understanding is slightly different. Shares trade today for the last day with entitlement to AUE shares. From tomorrow AAAM [or Affrero] trades ex entitlement but will therefore be correspondingly cheaper. If you sold them tomorrow, you will still get your AUE on the 13th. Where I think there might be upside from all of this is my instinct that the AAAM price tomorrow might not fall that far & when AUE then starts trading on 13th the market will have to accord it a reasonable value - so from the 13th those still holding AAAM i.e. AFF & AUE might find they have an immediate revaluation upwards. |
Posted at 05/4/2011 17:46 by longsight Investor Chronicle BUY Shareholders approve African Aura split Created: 5 April 2011 Written by: Martin Li Shareholders have overwhelmingly approved proposals for African Aura Miningto split into separate iron ore and gold entities, with the arrangement expected to come into effect on 13 April. For every share held on 7 April, investors will receive one share each in the new entities Afferro (iron ore) and Aureus (gold). Management believes that splitting the company into pure commodity plays will better capture the value of its assets, which they believe is not, despite the strong recent performance, reflected in the current share price. Many analysts agree. The company recently announced a maiden resource of 1.039bn tonnes at its wholly-owned Nkout iron ore project in Cameroon, and aims to lift this to 4bn tonnes with further drilling. It also more than doubled the resource at its Liberian Putu iron ore joint venture with Severstal (African Aura interest 38.5 per cent) to 2.4bn tonnes. Meanwhile, David Reading, former head of European Goldfields, will take the helm of the gold entity Aureus. Its most advanced project, New Liberty in Liberia, has 1.5m ounces at a high grade of 3.78 grammes per tonne, and also holds large exploration acreage in Liberia, Sierra Leone and Cameroon. AFRICAN AURA MINING (AAAM) ORD PRICE: 288p MARKET VALUE: £248m TOUCH: 285-290p 12-MONTH HIGH: 348p LOW: 67p DIVIDEND YIELD: nil PE RATIO: na NET ASSET VALUE: 104¢ NET CASH: $36.1m Year to 31 Dec Turnover ($m) Pre-tax profit ($m) Earnings per share (¢) Dividend per share (p) 2007* nil 1.8 7.2 nil 2008 nil -2.2 4.8 nil 2009 1.18 -12.3 -18.2 nil 2010 0.32 -11.5 -16.9 nil % change -73 - - - *11-month period £1=$1.613 TIP UPDATE: Buy The shares have risen 800 per cent since our buy tip (32p post consolidation, 17 Jul 2009). Yet, with current analyst valuations suggesting that they trade at a discount to the iron ore assets alone, with the gold assets effectively thrown in gratis, there should be more upside to come. Buy. Last IC view: Buy, 210p, 2 February 2011 |
Posted at 23/3/2011 08:51 by longsight Worth hammering this point one more time!Nkout has 1.04bt high grade IO @ 34% with potential for a further .3bt - .6bt IO beneath the optimised pit shell. This is from drilling just 3km out of a total of 57km of strike targets at Nkout. AAAM will be drilling all of these targets this year. This excludes Ngoa - which appears to have potential for a DSO operation. This excludes Akom which has 20km of discontinuous strike targets comprising 8km of BIF targets. All 3 licences are next to each other. There is a railroad planned to run within 30km of Nkout. It now looks more & more likely that Sundance will be proceeding with the railroad & associated port given the investment of Hanlong Mining & the recent upgraded resource statement. There are further IO projects that can join in with the new railroad. This will give all these projects together a viability at a far lower threshhold. These projects will together make Cameroon a major IO mining hub. Sundance hopes to ship its first IO in Q1 2014. One might anticipate, imo, that Nkout / Ngoa / Akom cd make AAAM worth £20 a share over the next 18 months. Yet AAAM also has: Putu - 38.5% stake in 2.4bt IO at 34% with potential for 4bt - 5bt in total Gold licences at Bea [New Liberty, Weaju, Ndablama, Silver Hills, Gondoja] - current resource size 1.73m oz with potential for perhaps 5m oz - 10m oz. According to the Jennings note, AAAM has not yet done any systematic geological appraisal or exploration of Bea - so perhaps given they already have found 1.73m oz, 10m oz is, imo, not unreasonable target; Gold licences at Batouri & Ntem which look highly prospective 22% stake in Stellar Cash to fund exploration work for approx 12 months |
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