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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| African Con | AFCR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.685 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.685 | 0.685 |
| Top Posts |
|---|
Posted at 17/12/2014 12:27 by xscream179 I made my first post on this board a few days ago. I don’t post a lot but sometimes I have something to contribute. I tend to hold for long periods. By way of introduction I first invested in AFCR about 9 years ago. I have long been interested in the potential of Zimbabwe and have spoken to a number of people who travel there. I invest in a small number of stocks and know a lot about those that I invest in. I have met Roy Tucker, Mike Kellow, Andrew Cranswick and recently Roy Pitchford. I believe this is a good time to be in AFCR with much of the available information looking positive.Expected cash generation from Zimbabwe: “The Company remains of the opinion as previously announced that the finance introduced into the Joint Venture will be sufficient to commence production at Pickstone-Peerless within eight months at a provisionally targeted run-rate of ore production of 10,000 tonnes per month.” 10k tpm at 5g per tonne /32 g per oz = 1562oz per month x margin of $450 = $703k/month = $8.4m pa. 50% share to AFCR is $4.22m pa = £2.7m pa. Cost of production at PP has previously been quoted as $600-$700. It will take 2-3 months to build up to 10,000tpm. The necessary machinery has already been ordered. Note that Grayfox the new Zimbabwean investors own 50% of Pickstone, Peerless and Giant the rest of the Zimbabwean assets are 100% owned by AFCR. The known orebody at Pickstone Peerless has higher grades at greater depths. There are several avenues open to the company to increase production once capital is generated from early operations. It would be fair to include at this point that there are significant political risks in Zim however I think this is clearly reflected in the in the modest market cap. Shares being traded in the market: Brimfell sold their 29% holding. The buyers of this stock over just 4 days paid 1p to 1.3p. I think it would be unlikely for them to become significant sellers with the addition of the Romanian project. There were very high volumes traded around the time of Zak Mir’s potential 25 bagger article however current holders will include people buying in on his recommendation with the hope of the share price multiplying to an assortment of levels above the current price. The shares from the placing are non tradable yet. I don’t think those who bought in on the placing will be planning to sell for a modest profit at around current levels. Why be tied in for a period for .01 or 0.2 of a penny? Romania: As per the last RNS there are some legalities to be confirmed. Once the legalities are sorted out, estimated Jan, it will take three months to restart the mine and possibly a further three months to increase throughput to 10tpm. By this time annualised free cashflow (after tax) is described as $14m-$15m. Noting cashflow is not profit I think the profit to AFCR would be £4m- £4.5m pa from mid 2015 from Baita Bihor. This is my rough estimate not a company figure. “Resources and production facilities (post refurbishment) are sufficient to double production for further $4m investment”. This additional investment is expected to come out of cash flows generated from the first phase production output. Known resources indicate an 11 year mine life. The various metals being mined are equivalent to 6% copper or 10g/t gold. The plant to extract the main minerals is in place and comes with the deal. I know someone who asked an analyst to scrutinise the Romanian figures. The outcome was that it was difficult to come up with an IRR of less than 50. My rule of thumb is that anything higher than the mid twenties is exceptional. The way Biata Bihor will be run will include some improvements in working practices that will bring further benefits. For example simply putting the viable ore through the plant rather than all of it will increase the already high grade (6% Cu equivalent) even further. This isn’t just creaming off the good ore. Under state control all the ore was out through because no one in charge asked the people working in the mine for their advice. I understand Andrew Prelea (Romanian CEO) is both a Romanian citizen and an Australian citizen. His in country contacts give AFCR a unique position which has resulted in the current arrangements and the prospects of additional developments through Remin the state mining body. Conclusion: The sovereign risk in Romania is substantially less than in Zimbabwe which derisks AFCR’s operations. This will be to the benefit of shareholders. With the price around 0.6p absolutely nothing is priced in. By the time both mines are working later in 2015 my figures above indicate an annualised profit of c£7m to AFCR for the following 12 months. This excludes further improvements enabled by using cashflow to improve operations. The new number of shares in issue will be approx 1182m. If the share price is 0.6p this is a P/E of one (1182x x 0.6p = £7m). If you chose a P/E that is more realistic that is the multiplier from the current share price. I would be surprised not to see a share price of above 2p in 2015. This could be viewed as a cautious estimate. Note that the Romanian element has a lower risk and will contribute more profit to AFCR than Zimbabwean assets. The very fact that there are two independent projects reduces the risk to the company. If it was Zak Mir making these points the share price would be over a penny in 24 hours. XS |
Posted at 20/11/2014 07:45 by tez123 Courtesy of Torino on LSEThe AFCR storyAFCR in my eyes is the most undervalued share on AIM at the moment. As you can see from the RNS's, AFCR will be PRODUCING GOLD, within the next 2 to 6 months yes GOLD PRODUCTION. So where does that value AFCR? Well let's look at some Gold explorers which are nowhere near producing, and therefore nowhere near making any revenue or profits: Solomon Gold just a gold explorer is worth £22 million. Central Rand Gold is worth £ 14 million once again only an explorer, and with an offer worth over $150 million dollars on the table. So now you're beginning to see how our market cap of currently £10 million is looking cheap. Now let's look at a gold producer and see how much it was sold for... Archipelago Resources (formerly of AIM) was sold for £338 million and it produced 140,000 ounces of Gold (we will be producing 120,000 ounces of gold read the RNS's) So as you can see we are the most undervalued share on AIM we will be profit making shortly, so even 15p looks cheap! This is the next GKP of 2009 or a Fitbug... Don't miss out |
Posted at 19/11/2014 18:31 by ronson333 from lse:AFCR in my eyes is the most undervalued share on AIM at the moment. As you can see from the RNS’s, AFCR will be PRODUCING GOLD, within the next 2 to 6 months – yes GOLD PRODUCTION. So where does that value AFCR? Well let’s look at some Gold explorers which are nowhere near producing, and therefore nowhere near making any revenue or profits: Solomon Gold – just a gold explorer is worth £22 million. Central Rand Gold is worth £ 14 million – once again only an explorer, and with an offer worth over $150 million dollars on the table. So now you’re beginning to see how our market cap of currently £10 million is looking cheap. Now let’s look at a gold producer – and see how much it was sold for… Archipelago Resources (formerly of AIM) – was sold for £338 million – and it produced 140,000 ounces of Gold (we will be producing 120,000 ounces of gold – read the RNS’s) So as you can see we are the most undervalued share on AIM – we will be profit making shortly, so even 15p looks cheap! This is the next GKP of 2009 or a Fitbug… Don’t miss out |
Posted at 29/10/2014 21:34 by jumbone Cezary, apologies for reposting this from the other thread on AFCR (Hope you understand.. jumbone 29 Oct'14 - 20:46 - 98 of 98 1 0 edit Jim & M4: M4: The exitement is Just starting. Till My conversation with Susie, the thought never occured to me. My chat was for 7 minutes starting at 15:28 today Though she did not confirm it, even after probing, the AFCR BOD seems to be in shock at the speed in which Bremfell was able to dispose their 29+ % stock. Moreover they genuinely seem to be very worried about a hostile takeover of AFCR Imagine for a moment, this mysterious buyer of Bremfell stock with 29+ %, buying up another couple of percentage shares, in the open market in the confusion. This mysterious buyer would now be holding over 30% of AFCR. What seems to be worriying the BOD, Penmure Gordon, GRAYFOX & St Brides is that no one has come forward yet about their holdings. She would not comment anything about this mysterious buyer continuing to increase their stake in AFCR after accumulating the Brumfell holding, despite my probing. According to LSE rules any shareholder with 30+ percent equity must either put on the table a mandatory offer to buy up the entire stock of the company or declare that they are not interested to takeover the company. We are in limbo land here, this mysterious buyer has not come out in the open as to their identity, This mysterious buyer neither declared openly to the authorities their intention to takeover the rest of the company, nor have they undertaken not to bid for the rest of the company. Imagine tomorrow, day after or on Thursday this mysterious buyer contacts the "Takeover Panel" and tables an offer to takeover AFCR completely A mysterious buyer of up to 20 % holdings is one thing, once someone has nearly 30% Alarm bells start ringing in any BOD. From my chat it's very clear that the AFCR BOD is currently in a state of if not panic extremely concerned. These are her words not mine -- "The gravity of this shocking development is topmost in the BOD's mind" If that happens the moot question is "What could the T/O price be?" |
Posted at 29/10/2014 20:46 by jumbone Jim & M4:M4: The exitement is Just starting. Till My conversation with Susie, the thought never occured to me. My chat was for 7 minutes starting at 15:28 today Though she did not confirm it, even after probing, the AFCR BOD seems to be in shock at the speed in which Bremfell was able to dispose their 29+ % stock. Moreover they genuinely seem to be very worried about a hostile takeover of AFCR Imagine for a moment, this mysterious buyer of Bremfell stock with 29+ %, buying up another couple of percentage shares, in the open market in the confusion. This mysterious buyer would now be holding over 30% of AFCR. What seems to be worriying the BOD, Penmure Gordon, GRAYFOX & St Brides is that no one has come forward yet about their holdings. She would not comment anything about this mysterious buyer continuing to increase their stake in AFCR after accumulating the Brumfell holding, despite my probing. According to LSE rules any shareholder with 30+ percent equity must either put on the table a mandatory offer to buy up the entire stock of the company or declare that they are not interested to takeover the company. We are in limbo land here, this mysterious buyer has not come out in the open as to their identity, This mysterious buyer neither declared openly to the authorities their intention to takeover the rest of the company, nor have they undertaken not to bid for the rest of the company. Imagine tomorrow, day after or on Thursday this mysterious buyer contacts the "Takeover Panel" and tables an offer to takeover AFCR completely A mysterious buyer of up to 20 % holdings is one thing, once someone has nearly 30% Alarm bells start ringing in any BOD. From my chat it's very clear that the AFCR BOD is currently in a state of if not panic extremely concerned. These are her words not mine -- "The gravity of this shocking development is topmost in the BOD's mind" If that happens the moot question is "What could the T/O price be?" |
Posted at 29/10/2014 16:03 by jumbone Copied from CR Thread:moreforus 29 Oct'14 - 15:53 - 460334 of 460347 0 0 jumbone punters like us were the buyers..... although i have seen some large size tickets go through....they were in the open market and each could have been from a different buyer jumbone 29 Oct'14 - 16:00 - 460347 of 460347 0 0 edit M4: If so the AFCR board will be over the moon. Do you really and honestly think there is no buyer holding more than 3% of Brumfell's 29% shareholding? By the sound of the conversation , the AFCR board are in shock at the speed of both the Brumfell's selling and the mysterious buyer's buying. Remember if you hold 30+ % of shares in any company you either have to bid for the rest of the company or declare that you have no intention of taking the company over. No wonder the AFCR board is in shock |
Posted at 27/10/2014 22:25 by jumbone Goldbloke :No.. Not at all. No annoncements have been made yet about any JV with Rio. Let me make this very clear, these are my assumptions/ contentions. 1. As per the regulations in Zimbabwe, Zimbabwe Investment Authority overseas all FDIs in Zimbabwe 2. ZIA is created as a one stop Investment shop for quicker and easier facilitation of investment 3. There are indegenisation laws applicable in Zimbabwe which are sector based 4. There are 14 Reserved sectors where 100% zimbabwein ownership is mandatory 5. The 14 sectors include: 1. Agriculture: food and cash crops of primary products; 2. Transportation: passenger buses, taxis and car rental services; 3. retail and wholesale; 4. barber shop, a hairdresser and a beauty salon; 5. Employment Agencies; 6. Real estate agent; 7. valet service; 8. grain milling; 9. bakery; 10. tobacco grading and packaging; 11. tobacco processing; 12. advertising agency; 13. milk processing; 14. The local art and handmade products marketing and distribution 6. The percentage of Local ownership that is required by law is sector based 7. In gold & precious metal mining this is 30%,In Diamond mining it is 11% 8. Many Foreign companies have been fighting this including ZIMPLATS 9. However in 2013 Prospect Resources Ltd of Australia PSC: ASX was granted permission to have 70% FOREIGN equity interest in Hawkmoth Mining & Exploration (Pvt)Ltd a Certified Zimbabwean Indigenous Company See page # 7 of 10. A similar situation is applicale for AFCR 11. AFCR had announced a 50 : 50 JV with GRAYFOX 12 Under which Grayfox extends $ 4 mill to AFCR & agrees for a working capital of $ 2 mill to AFCR In addition the following 13. "Grayfox will contribute plant of approximately equal value to Newco on a similar free loan basis" as per the RNS of 17 Oct 2014 Look at the last sentence in 14. What does that mean.... Think... Grayfox is a mining company with processing plants 15. AFCR had ruled out Dalny Mine's takeover so that's not GRAYFOX's property 16. These are all the gold mining properties in Zimbabwe closer to own Pickstone-Peerless mine and their owners Dalny >> Falcon Gold Zimbabwe Golden Valley >> Falcon Gold Zimbabwe Cam and Motor >> RioZim Ltd, Zimbabwe Sherwood star >> Sherwood International, Zimbabwe Golden Phoenix >> Prospect Resources, Australia Connemara >> First Quantum Minerals Ltd 17. Of these Dalny is ruled out, Golden Valley is closed down after a horrific accident, Sherwood Star's equipment is being advertised for sale, Golden Phoenix is under care and maintanence now being revived through Prospect, No info about First Quantum's Connemera project. 18. Who's missing.... Cam & Motor Mine owned by RioZim, subsidiary of Rio Tinto. 19. RioZim is a Zimbabwean indegineous company, registered in Zimbabwe and trading in Zimbabwe 20. Cam and Motor Mine was the largest Gold mine in Zimbabwe, before it went into care and maintanence. 21. RioTinto exited from this property due to political difficulties and due to the collapsing price of Gold. 22. Now the Gold Price is $ 1200+ per oZ, and RioZim had decided to resusitate the Biggest Gold mine in Zimbabwe 23. Early this year RioZim floated tenders for contract mining at Cam and Motor, targeting contract gold miners with capacity to extract 270 000 ounces per month 24. Now my contention is that there is going to be a new JV partner who either is RioZim or has the contract for mining their property with joint processing facilities, who's a Certified Zimbabwean Indigenous Company 25. This is the only possibility that satisfies (a) the hasty exit of Brumfell / RKI (b)AFCR's about turn on Dalny Mine takeover, & (c)Sudden appearence of a generous WHITE KNIGHT called GRAYFOX who no one is aware of, despite exhaustive trawling the net 26. This white Knight is called GRAY FOX not GREY FOX -- I am suspecting a company owned by GRA(CE Mugabe)? 27. Yes many points of what I say are conjectures and are contentious, but I am just connecting the dots.. 28. If you connect these same dots where are you reaching ? |
Posted at 27/10/2014 11:52 by jumbone Why do I think this has a fantastic upward trading opp.>>>>> This is my logic >>>>> Accept it or deny it, this is what I think, and like every one else I have a right to my ouw thoughts. >>>>> when you critically analyse the developments taking place in Zimbabwe's political & Gold Mining Fronts: Each of my statements supported with a reference where needed, just so that you might appreciate the plausibility of my conclusions. I can see the end point, and where we are heading so connect the dots yourself, would you not reach my conclusion at the end of this post? In the POLITICAL FRONT : -- Mugabe is loosing his grip on the presidency -- His protege the deputi President, Mujuru is now under attack from both Mugabe supporters and Grace, his wife -- Mugabe scores a coup in 2004 to oust Justice minister Emmerson Mnangagwa's competetion and brings in Mujuru to the forefront -- His wife Grace is now punting to be the next presidential candidate -- Incidentally, Justice minister Emmerson Mnangagwa, miraculosly survives a horrific car crash on 24 Oct 2014 In the mean while In the MINE FRONT: -- AFCR Suddenly and dramatically take a U-turn in trying to gain control of Dlany Mine -- Suddenly Rio Tinto, through it's 100% Zimbabwen subsidiary, RioZim, Plan to Resuscitate Cam and Motor Mine, another next door mine to Pickstone Peerless Gold Project -- Cam & Motor Mine happens to be the largest gold mine in Zimbabwe, which is under care and maintanence, still under RioZim's ownership -- The largest shareholder of AFCR, for no apparant reason takes a massive 75% haircut and exists AFCR holdings in a hurry -- Out of the blue comes a new investor GRAYFOX who is prepared to pump $4 mill upfront. PLUS $2 mill for Working capital __ In addition GRAYFOX "will contribute plant of approximately equal value to Newco on a similar free loan basis" The last sentence of that RNS states verbatim "AFCR will also contribute the plant it already owns at Pickstone-Peerless to Newco on a free loan basis and Grayfox will contribute plant of approximately equal value to Newco on a similar free loan basis." MY CONTENTIONS are: On the Political Front: >> Mugabe, Grace & Mnangagwa would loose the presidency and MUJURU would most likely become the president of Zimbabwe >> Mnangagwa might most likely be targeted for another attempt, if he doesn't withdraw voluntarily >> This possible change is being viewed by the business community to be extremely conducive for business On the Gold Mining Front: >> The so called "NewCo" is most likely a JV between RioZim & AFCR >> They are planning to exploit their combined processing capability to process the feeds from both Pickstone Peerless Gold Project & Cam & Motor Mine >> Since RioZim is a 100% Zimbabwain company listed and traded in Zimbabwe stock Exchange, they would circumvent all indeginisation problems. >> My guess is BRIMFELL / RAK investments / Have been somehow been accomodated in this JV so as not to loose most of their investment in AFCR I know I am stirring a huge hornet's nest by posting this.. But nothing else makes any sense |
Posted at 24/10/2014 00:25 by yorgi Another interesting day with AFCR, almost 146m shares traded similar to yesterday but with the good news we had on Friday which clearly attracted buyers but the share price being held back while Brimfell sold out of AFCR the volume has been massively higher than anything I can ever recall in the time I have been following AFCR.I hope over the coming days more of these shares will be bought by investors who see the great potential we have her in AFCR in Africa several projects with our flagship project Pickstone Peerless now funded to move into production and other assets all listed on our website. With the recent joint venture agreement confirmed with Grayfox so that we can move forwards to producing gold in first half of next year we also have funds to further our Romanian project which should be interesting giving us an interest in an EU country. I believe this is the turning point for AFCR and we should be transformed over the coming year as we move from explorer to mining company producing gold from a world class resource with further assets to be developed on two continents. All for a market cap of £5m.......That is extraordinarily cheap. |
Posted at 17/10/2014 15:27 by yorgi PP that is a big resource and now we are moving towards production there....The 4th March RNS.African Consolidated Resources plc / Ticker: AFCR / Index: AIM / Sector: Mining 4 March 2014 African Consolidated Resources plc ("AFCR" or "the Company") Declaration of a 1.02 million ounce Ore Reserve Estimate and Updated Mineral Resource Estimate and Clarification of previous information and Corporate Update African Consolidated Resources PLC, the AIM listed resources and development company, is pleased to announce the confirmation of an Ore Reserve Estimate in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 Edition ("the 2012 JORC Code") of 16.6Mt grading at 1.9g/t for 1.02Moz of contained metal at its flagship Pickstone Peerless Gold Project in Zimbabwe ("Pickstone-Peerless Person under the 2012 JORC Code to compile an estimate for the Ore Reserve. The Company also announces an updated Mineral Resource Estimate on Pickstone-Peerless in accordance with the 2012 JORC Code supporting the Ore Reserve Estimate. This is in line with company policy to report the Reserve estimate as a subset of the Mineral Resource. The declared Resource is 62.0Mt at 1.8g/t containing 3.56 Moz at a cut-off grade of 0.3g/t down to 250 metres below surface (open pit) and at 1.5g/t for the remaining resource below 250 metres below surface. ExplorMine was retained as the appointed Competent Person under the 2012 JORC code to compile and estimate the Company's resources. These upgraded Reserves and Resources have been developed from the Pre-Feasibility Study ("PFS") carried out by AFCR and as announced on 4 December 2013. In addition, the Company wishes to clarify certain information previously given for the benefit of investors and shareholders and provide a general corporate update. Pickstone-Peerless Ore Reserve Estimate: Key Highlights: -- A total Ore Reserve Estimate of 1.02 million ounces @ 1.9 g/t based on a gold price of USD 1,300/oz and a cut-off grade of 0.4g/t -- The Ore Reserve Estimate is based on designed open pits down to a depth of approximately 220 metres for the Peerless open pit and 250 metres for the Pickstone open pit -- 2012 JORC Ore Reserve Statement compiled by independent consultants Minxcon Pty (Ltd); this follows the PFS developed by AFCR and the provisional Reserve declaration by AFCR of 1 million ounces, both as released on 4 December 2013. |
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