Amedeo Res Share Discussion Threads

[knicol46] 13/7/2016 12:07

Positive movement today currently last traded +7.7%

[howdlep] 11/7/2016 09:34

and this is why of course the share price would move so quickly with any new order:-

[howdlep] 11/7/2016 09:20

Thanks for that DaveTheChef

New Website updated(New pics of the Rig building & MGR Resources)

[howdlep] 11/7/2016 09:19

Now wouldn't it be nice if our JV partnership picked up an order or two?

[davethechef] 08/7/2016 09:25

New Website updated(plenty of recent pics of the Rig building, offshore yard & MGR Resources)

hxxp://amedeoresources.com/

[davethechef] 08/7/2016 09:22

New Website updated(New pics of the Rig building & MGR Resources)

hxxp://amedeoresources.com/

[davethechef] 29/6/2016 17:56

Our JV Partner recent investment
Yangzijiang Shipbuilding is investing RMB 1 billion ($204.5 million) through a wholly owned subsidiary into an investment holding company in Jiangsu, China.

[davethechef] 24/6/2016 09:17

Panic sell there, still same price to buy as last couple of weeks, 9.45p to buy. I'm being quoted 8p to sell, not 7p!

[mike111d] 15/6/2016 18:54

Irish eyes have certainly not been shining on this stock, all the best if you continue holding.

[davethechef] 15/6/2016 18:10

Agreed Genises, nicely explained. And would explain the very much delayed transfer to final customer, from what was second half last year.
For once, Amedeo has giver greater detail & clarifiaction under Chairman's Statement, yesterday's Results. And about time too!!!
Should at least surpass our present market capital, which at over $4Mill is quite substantial considering our running costs are minimal. We only have four employees and are still owed $400,000 approx. from MGR, too. So given our aforementioned robust financial position and no debt, fortunately we're not in urgent need for future orders and the Offshore Yard is keeping busy.

I was always attracted here by their strong supportive shareholders and JV partners, and no debt. The severe downturn in the price of POI and subsequent fall in rig demand has been unfortunate but hopefully will pick-up or they'll seek/invest in 'other avenues'.

[genises] 15/6/2016 16:37

Dave the chef
If the rig does sell for £140 million you will need to deduct costs and material for building the rig.
Therefor the amount Amed will receive will certainly be in the single million figure.
The first rig would had been built at a discount to attract potential clients for future orders.
Good luck in your investment.

[davethechef] 14/6/2016 15:33

Today's Results also state, as follows,' Currently, delivery is expected in the second half of 2016 at the original contract price'.
Also states, as follows 'Le Tourneau was recently purchased by Keppel FELs, which has built and delivered almost half of the world's jack up and semi-submersibles in the past decade, due to the importance and uniqueness of the Le Tourneau design. Moreover, in the current new build market, there are no Le Tourneaus that have been built on speculation. All have been ordered for clients and by clients'.

So we have had a further repayment of MGR's loan, in February this year, MGR repaid $1.71Million and still owe $400,000. So says these results and states that at the date of these financial statements, Amedeo has $4.1Million. That's a robust cash pile for such a tiddly present market capital.

[knicol46] 14/6/2016 13:36

45p valuation given.. hxxp://en.francais-express.com/news/money/-16705-amedeo-looks-ahead-to-delivery-of-newly-built-rig/

[knicol46] 14/6/2016 10:48

Results out today - highlights..

Physical build of Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig ("Explorer 1"), completed and commissioning underway. Explorer 1 expected to be delivered in 2H2016

MGR Resources PTE Ltd ("MGR") posts a profit of US$90,000 despite depressed iron ore prices and difficult market Cash at the year end at US$2,340,000 (2014: US$1,179,000), and post year end at US$4,152,000 Overall, at the period end, net and total assets were US$21,110,000 (2014: US$24,437,000) and US$21,257,000 (2014: US$24,781,000), respectively

During the year under review, and in line with Amedeo's policy of aligning Directors' incentives with those of shareholders as well as keeping cash remuneration modest, Amedeo awarded Glen Lau, the Company's Chief Executive Officer, 2,607,211 warrants to subscribe for new ordinary shares of 10p in the Company. The warrants have share price performance and time vesting conditions. They have an exercise price of 100 pence compared with the share price of 35 pence at the time of the award.

The net asset value per share at 31 December 2015 was US$0.65 – well undervalue currently

[davethechef] 10/6/2016 12:19

say 'hold-out' for the continued recovery in the oil markets, and sell the Rig for the best price. Sod Prinsip Offshore Drilling, for 'mucking about' our JV partners, and Offshore Yard over delayed payment. Certainly since $27 POO in February, the delay, has benefited, it's worth, as the Chairman of Yangzijiang Shipbuilding points out, in my earlier link.
Sell to Iran, they've been seeking Jack Up Rigs, as the link today mentions(Ren Yuanlin) and my link of the 7th June suggests.
Now 8.65p to sell hefty amounts. Difficult to buy even a £grand's worth here now, unless it goes to NT

[knicol46] 10/6/2016 11:47

Positive YZJ news whilst awaiting results..

YZJ secured a contract worth US$510m for six 400,000dwt valemax from ICBC Leasing to support a Chinese SOE shipowner. The vessels will be delivered in 2018- 19. The order is placed as part of the 30 valemax orders by several major Chinese shipowners to support a contract of affreightment (COA) with Brazilian mining group Vale to transport iron from Brazil to China over a period of up to 27 years. We believe YZJ’s VLOC is for China Cosco Shipping

[davethechef] 10/6/2016 09:59

Just found from web. Chairman Yangzijiang Shipbuilding talking about the Rig delay to customer, awaiting next 20% possible payment or to sell Rig on the open market. Best prices improving with oil price recovery. Rmb 140 Million equals £14 Million(20% to AMED)
140000000 Chinese Yuan equals
14780818.92 British Pound
Well it seems whatever happens, further substantial payment is due to our Offshore Yard /AMED eventually. Usual poor communication from AMED, June results should update us on this.

hxxp://www.nextinsight.biz/index.php/story-archive-mainmenu-60/938-2016/10712-yangzijiang-shipbuilding

[davethechef] 07/6/2016 15:33

Internationally, recently, there appears to be renewed appetite for major new rig building, as these two links suggest, but whether we'll be successful remains to be seen!
hxxp://www.offshoreenergytoday.com/wsj-iran-in-talks-to-order-5-jack-up-rigs-in-south-korea/
hxxp://www.shipandoffshore.net/news/new-ships-weekly-report/new-ships-weekly-report-article/id/joint-venture-to-design-russian-drilling-rigs.html

[knicol46] 02/6/2016 14:48

YZJ (unsinkable) report..

Thanks to its market dominance and hefty cash pile, Yangzijiang Shipbuilding (YZJ) is likely to remain unsinkable despite the harrowing state of the shipbuilding industry. According to a report by OCBC, YZJ has been churning out a net profit of at least RMB2b per year for the past seven years, and was in a net cash position in the first quarter of 2016. Moreover, the trend of ship owners’ inclination to order at fewer shipyards portends further industry consolidation. On top of this, the Chinese government has identified a “white list” of shipyards (which include YZJ) that would enjoy policy support like bank credit and export tax rebates. OCBC also notes that based on news reports and channel checks, there are now only roughly 100 yards that have active day to day operations, and this figure is likely to dwindle further over time. Further, with any consolidating industry, the only firms left standing would get to enjoy the enlarged market share over time. Cash-strapped and therefore cautious ship-owners are reluctant to place orders with unknown and less reputable yards. This plays to YZJ’s advantage, as its established track record, solid execution capability and hefty war chest enable it to lure in customers.

Shares in issue: 33m
Current MCAP: £3
Net assets at last report: $23.7m
Results for 31 Dec 2015 period: due (last released 2 June 2015)

[oilbuy] 15/5/2016 19:08

Surly our land is worth more than 4M ?

[annonymous2] 12/5/2016 15:08

Cheap now chaps 3.3 mil cap.

??

[davethechef] 13/4/2016 21:26

At least our JV partner continues to acquire mega-orders. Whilst we await a significant order, I guess we'll be busy with 'overspill' work, from aforementioned as they continue to grow from strength to strength.

hxxp://www.nextinsight.biz/index.php/story-archive-mainmenu-60/938-2016/10681-yangzijiang-secures-us-510-m-shipbuilding-contract

[davethechef] 13/4/2016 15:21

At least our JV partner continues to acquire mega-orders. Whilst we await a significant order, I guess we'll be busy with 'overspill work, from aforementioned as they continue to grow from strength to strength.

hxxp://www.nextinsight.biz/index.php/story-archive-mainmenu-60/938-2016/10681-yangzijiang-secures-us-510-m-shipbuilding-contract