Share Name Share Symbol Market Type Share ISIN Share Description
African Min. LSE:AMI London Ordinary Share BMG0114P1005 COM SHS USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 10.00p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 524.9 -34.4 -9.8 - 33.19

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DateSubject
25/9/2016
09:20
African Min. Daily Update: African Min. is listed in the Mining sector of the London Stock Exchange with ticker AMI. The last closing price for African Min. was 10p.
African Min. has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 331,917,114 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of African Min. is £33,191,711.40.
02/2/2015
16:43
casual47: Further to the post from Massey over on LSE.....here's my own calculations If someone were to buy us out outright for £1 a share then they'd have to pay in total roughly 1,074.4m USD (not taking into account interest on loans and costs for selling out etc) At the current USD-GBP exchange rate, a £1 share price corresponds to a market cap of 500 million USD (331,917,114 shares in issue). Assets apart from TIO&ARPS: 1. There is $82.4m left in the restricted bank account. I presume this will be included. 2. Cape Lambert has an mcap of 49m AUD, or 38m USD. AMI owns 19.47%, so that's worth around 7.4m USD 3. Obtala Resources, current share price is 9.45p. AMI owns 21,170,422 shares, so that's worth around 2m GBP or 3m USD. 4. Stellar Diamonds: Not sure how much we hold but it's less than 3% Did I forget anything? Total non-TIO&ARPS assets: $93m. Bonds & Loans: 400m USD bond. AMI owes 100% of this. At least 7 full months of interest+repayment has been fully paid towards the PXF, so that would leave around 180m USD. AMI owes 75% of this, so 135m USD. The two equipment finance loans combined were reduced to 120.3m USD as per the Interim Results RNS. AMI owes 75% of this, so 90.2m USD. There is a shareholder loan from SISG worth 56.3m USD. AMI owes 75% of this, so 42.2m USD. Total Bonds & Loans (AMI share): 667.4m So: 500m (mcap in USD when share price is £1) + 667.4m (bonds&loans) - 93m (other assets) = 1,074.4m USD
08/11/2014
10:59
mcyi9gl2: Lots of talk about share price manipulation but the fundamental problem AMI have is that at current prices I think they are set to lose about $200m over the next 12 months (even after taking into account estimates of income relating to the deal with London mining and lower freight costs from shipping to Europe). Add onto that debt / interest payments of c.$220m and $300m for the new Hematite concentrator then I think they need financing to the tune of $750m. The requirement could easily be more (up to $1bn) if stress tested against further declines in IO price or contingency against achieving planned cost reductions etc. AMI probably have enough cash to take them through to the end of the year but if they don't get this financing then this will go the same way as London Mining (i.e. into administration), and I think we do have reason to be concerned about progress. This is why the share price is dropping. The announcement on 15th August advised that they were working on financing and the interim statement was delayed whilst they put in place the plan. There was an indication that financing would be announced with the interim results on 30th September but the current status seems to remain that they are still working on it. So in short, to hold up the share price we need an announcement that management are confident financing will be secured. Saving that we need a quick rally in IO prices (back up to $90/tonne would be a game changer) but obviously we can't bank on that and need to plan based on current prices. The only other potential saving grace would be a takeover (e.g. Glencore) but given the current debt and the level of further investment needed (i.e. $600m debt + $750m investment needed) I'm not sure future cash-flows (based on current IO prices) would support any acquirer paying a significant premium to the current share price (i.e. an acquirer would have to assume higher IO prices).
26/10/2014
11:21
cantrememberthis2: Need that damn RNS to blow the roof off the House of AMI Debt Broke! To know not to think the following non ramping statement: Janary 2014 AMI Share Price £1.80+ October 2014 AMI Share Price £0.16 Go figure!
17/10/2014
23:55
jungmana: I agree is a good time to buy. Lets just hope that things dont get any more worse in sierra leone due to ebola. If is contained and stops spreading then ami share price will recover quickly.Nite all.
10/10/2014
21:48
shimmysham12: Sorry but lond has gone bust. Ami funding needed. Its running out of cash. This is high risk. This could easily go bust or have the price forced down by market forces. Lond position makes Ami share price a lot weaker. U have to realistic this is not the double baggers the rampers on here seem to think. Be careful of this share, its not yet good investment due to the funding issues. Read the last rns. If funding is found it could be good long term bet. Otherwise see lond for details.
10/10/2014
09:16
stockriser: By rejecting the connection of share price crash to Ebola, is he trying to tell us this is a shorting attack! http://www.tradewindsnews.com/weekly/346357/African-Minerals-rejects-Ebola-link-to-share-price-crash African Minerals rejects Ebola link to share price crash West Africa’s largest shipper of iron ore says it remains Ebola free despite concerns over a share-price crash. Sierra Leone-based African Minerals (AML)’s share price has fallen 85% this year and major shareholder China’s Shandong Iron and Steel is understood to have approved the use of $284m earmarked for capital expenditure (capex) for short-term funding needs. The AIM-quoted share is currently trading at £0.14 ($0.22). India’s Jindal Group is said to be interested in the company as a potential acquisition target at its current low share price. AML’s problems come as the big-four iron ore producers continue to depress the commodity’s price by increasing supply. BHP Billiton was the latest to announce an increase in iron ore supply, saying it would increase production by 30%. Analysts believe the move is part of a strategy to turn the screw on higher-cost mines in China and emerging producers in Africa. The current iron ore price of around $80 per tonne is still well above the break-even levels of the big four — Rio Tinto, BHP Billiton, Vale and Fortescue Metals Group. But AML has also faced negative sentiment related to the Ebola crisis. Iron ore from its Tonkolili mine in Sierra Leone is transhipped onto capesize bulkers 78 kilometres (42 nautical miles) offshore from the port of Pepel. The company insists it is taking every available precaution. In a statement to TradeWinds, AML said export quotas are being maintained. “No one has declined to take cargo and no shipments have been delayed or cancelled,” the AML official said. He admits owners are charging a small premium to take cargo but added: “We find this slightly bewildering due to the fact that we have had no issues, we don’t foresee any issues and that our loading anchorage is 42 nautical miles from Pepel. We believe, through advice given through our [protection-and-indemnity] P&I club and education to the market in general, that this premium shall soon dissipate.”
10/9/2014
16:26
sweepie2: BR Have you got any comment to these exchanges? Here is the latest from IR courtesy LuckCounts on the LSE SE threads. My message to IR which I sent on Monday Thanks for the brief call. A few follow-up requests / suggestions should you have the bandwidth -- 1.Update on how government decree will impact AMI - if AMI are able to obtain exemption given national importance? Precarious situation of the firm. 2. A mining production update for August. 3. Status update vis-a-vis Ebola 4. Timis Governance controls - investigation update. 5. Strategic partner / Taewoo. It seems AMI can't survive as only a DSO producer / in its current trajectory. 6. Financing update? 7. De-sliming circuits implement. 8. What concerns did Shandong have in regards to Bernard Pryor that they requested him replaced or was it a Frank Timis initiated move to have support in the boardroom? 9. For me - AMI off-take agreements in place and time line for the same. To understand value for a potential acquirer. Appreciate your responsiveness. There is a triple panic with the share given Governance, Falling Iron Ore and Ebola. I believe AMI should be doing more to sustain the share price. There is no buying interest as potential investors don't see a bottom. Is management considering selling out if strategic tie-ups are not finalised in short order? Meanwhile we private investors who have supported the firm are getting pummelled due to lack of management responsiveness - 7%+ down today on meagre volumes. I think governance concerns are keeping value investors away from this stock. answer: All is already in the public market, so nothing new to say, but to reiterate : 1: To my knowledge the plan by the government is not yet finalised, and impact uncertain at present, but we do not expect any meaningful impact 2: Observers watching the shipping will see that we loaded 9 vessels in July and 8 in August, still completely on track for production. We don’t report monthly tonnages. 3: As per our last report 4: As per AGM statements made by Roger Liddell and widely reported 5: Expected to be addressed in interims 6: Expected to be addressed in interims 7: First units currently in process of being installed 8: As disclosed, management change requested by SISG 9: Fully disclosed in the annual report and in the project level Q1s released on 6 August I understand that silence against a moving market environment is sometimes worrying, but as you know, we have an obligation to inform the market if anything underlying the business or its outlook changes. So in some way, silence means that there is nothing new that needs to be said. I fully understand your position, but I do take issue with “lack of management responsiveness”;. We do not manage the business by looking at the short term share price movements, but rather manage the business to provide the long term commercial outcomes that we have guided. With good delivery, the share price will react. But I do note, and share, your concerns.
10/9/2014
13:49
forwood: Here is the latest from IR courtesy LuckCounts on the LSE SE threads. My message to IR which I sent on Monday Thanks for the brief call. A few follow-up requests / suggestions should you have the bandwidth -- 1.Update on how government decree will impact AMI - if AMI are able to obtain exemption given national importance? Precarious situation of the firm. 2. A mining production update for August. 3. Status update vis-a-vis Ebola 4. Timis Governance controls - investigation update. 5. Strategic partner / Taewoo. It seems AMI can't survive as only a DSO producer / in its current trajectory. 6. Financing update? 7. De-sliming circuits implement. 8. What concerns did Shandong have in regards to Bernard Pryor that they requested him replaced or was it a Frank Timis initiated move to have support in the boardroom? 9. For me - AMI off-take agreements in place and time line for the same. To understand value for a potential acquirer. Appreciate your responsiveness. There is a triple panic with the share given Governance, Falling Iron Ore and Ebola. I believe AMI should be doing more to sustain the share price. There is no buying interest as potential investors don't see a bottom. Is management considering selling out if strategic tie-ups are not finalised in short order? Meanwhile we private investors who have supported the firm are getting pummelled due to lack of management responsiveness - 7%+ down today on meagre volumes. I think governance concerns are keeping value investors away from this stock. answer: All is already in the public market, so nothing new to say, but to reiterate : 1: To my knowledge the plan by the government is not yet finalised, and impact uncertain at present, but we do not expect any meaningful impact 2: Observers watching the shipping will see that we loaded 9 vessels in July and 8 in August, still completely on track for production. We don’t report monthly tonnages. 3: As per our last report 4: As per AGM statements made by Roger Liddell and widely reported 5: Expected to be addressed in interims 6: Expected to be addressed in interims 7: First units currently in process of being installed 8: As disclosed, management change requested by SISG 9: Fully disclosed in the annual report and in the project level Q1s released on 6 August I understand that silence against a moving market environment is sometimes worrying, but as you know, we have an obligation to inform the market if anything underlying the business or its outlook changes. So in some way, silence means that there is nothing new that needs to be said. I fully understand your position, but I do take issue with “lack of management responsiveness”;. We do not manage the business by looking at the short term share price movements, but rather manage the business to provide the long term commercial outcomes that we have guided. With good delivery, the share price will react. But I do note, and share, your concerns.
08/9/2014
17:47
gaywood 4u: I expect a groupon deal on ami share price
15/3/2014
19:43
fxdealer3: swooped , Markets hate uncertainty and a number of factors have punished ami share price ...thus creates buying oppotunity and distress prices Uncertainty re iron ore prices ,failed targets in past , and delay with the proposed deal .. Iron ore rebouned this week to $110 + ,recently ami has been hitting targets and i expect deal in q2 ...a similar deal was compelted already but it too took some time ...lowest broker is £2.60 and highest £4 + target This deal when complete would increase these targets because most of money would be used to buy additional assets in african at discount prices ..commodity producers are on their knees . Unrisked broker notes are £7 target ..similar level to proposed deal Thats my take and happy the accumulate at such a low level . Best of luck Fx
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