Amedeo Res Share Discussion Threads

[howdlep] 21/1/2017 11:54

Excellent coverage in the Financial Tribune

UK Firm Acquires Stake in Iranian Copper Mine

[howdlep] 20/1/2017 08:45

and the mm's want your stock. They are happy to take 50k off you. I bet they are!

[oilbuy] 20/1/2017 08:11

Nice bit of buying this morning

[cpap man] 20/1/2017 07:48

AMED looks very good chart wise!

[howdlep] 20/1/2017 07:34

Markets missed that late acquisition RNS yesterday. Great there is a further 5% option. Let's see if there is coverage/interest today. There should be, as AMED diversifies and utilises its cash reserves.

As always, this will move very quickly. Top 4 shareholders account for 81% of stock.

[oilbuy] 19/1/2017 20:58

Thanks howdlep for that info.Always nice to see cash generating assets onboard.

[davethechef] 19/1/2017 17:49

I like the sound of today's RNS; makes perfect sense. This MGR business is really looking increasingly progressive, and should provide healthy returns looking long term. A ready supply of copper, to compliment the Iron ore.
Only a week or so ago(as mentioned on LSE discussion site) I was wishing AMED would look into investing into another project(for some other revenue fix) I hadn't realised it would be so soon!
With this outlay(with option to increase) and the recent loan to MGR once again, they must be confident of Rig sale monies to 'top-up' their bank balance/sheet too.
Suddenly looking a brighter future here. Someone took a cheeky nice 41K there, before close.
Onwards and upwards!

[howdlep] 19/1/2017 16:23

Great news for MGR Resources, which of course AMED have a 49% stake

[howdlep] 19/1/2017 16:22

Thursday 19 January, 2017


Amedeo Resources PLC

Acquisition of 2.5% stake in Copper Mine


RNS Number : 6567U

Amedeo Resources PLC

19 January 2017




19 January 2017



Amedeo Resources PLC ("Amedeo")

Acquisition of 2.5% stake in Copper Mine

Amedeo is pleased to announce that it has acquired a 2.5% stake in Ganjine Kani Company ("GKC") for US$500,000, a copper mining company close to the city of Mashhad in Iran. As part of the transaction, Amedeo has a 5-year option to acquire a further 5% of GKC for US$2 million.

GKC is a producing miner. GKC also has the required infrastructure to produce copper concentrate from ore. To date, around 1 million tonnes of ore has been extracted by GKC which contains, on average, 0.9% copper. GKC has three mines.

Iranian studies estimate that the producing mine alone may have at least 6.5 million tonnes of copper ore with a 0.9% average copper content. The extent of the ore and its copper content has yet to be confirmed to international standards.

GKC has been selling copper concentrate into Asia, including China. MGR Resources PTE Ltd ("MGR"), which trades and brokers iron ore and in which Amedeo has a 49% stake, intends to work with GKC to increase GKC's supply of copper into East Asia and China.

Glen Lau, Chief Executive Officer of Amedeo said "We are pleased to have made this acquisition which will allow MGR to widen the commodities it trades and brokers and, at the same time, give MGR a captive supply of copper."

[howdlep] 19/1/2017 08:44

Early buyers, this is about to move higher

[howdlep] 19/1/2017 08:04

Share price now above MA50. Next step a move above 28p, then we can target 40p and 80p.


free stock charts from uk.advfn.com

[davethechef] 18/1/2017 20:14

Admittedly the continued growth in U.S shale will have an effect to dampen 'things' but these very recent articles suggest positivity returning for oil demand/projects;

hxxp://oilprice.com/Energy/Crude-Oil/25-Trillion-Investment-Needed-To-Meet-Future-Oil-Demand.html

hxxp://oilprice.com/Energy/Crude-Oil/Oil-Could-Rise-Further-On-Stronger-Asian-Crude-Demand.html

hxxp://oilprice.com/Energy/Crude-Oil/The-Rebound-Is-Here-Megaprojects-Back-On-The-Table.html

[howdlep] 18/1/2017 19:44

oilbuy,

Well while our customer secures rig financing, good to see another Keppel jack-up rig has found a new customer. Note, that a "corporate guarantee will be issued by the guarantor to secure the purchaser’s obligations under the sale contract."

It also states, again in relation to that other rig, that "following Parden’s failure to take delivery of the jack-up rig and make payment for the balance 80% of the contract value, KFELS discussed with the guarantor of Parden’s obligations under the construction contract and entered into a settlement agreement with the guarantor."

I would be interested to know what percentage our JV have already received for our rig. Also given the standard guarantors with orders of this size, I have no concerns re our customer securing financing or a replacement purchaser being found. We will be covered re any delay/variation.

[oilbuy] 18/1/2017 19:00

Just need to sell a rig. What's the calcs on interest roll up. Is it eating potential profit ?

[howdlep] 18/1/2017 15:39

Well worth remembering what Nicola Duke said on 30/12, i.e. fib support c19.6p, clear 28p for 40p, target 80p:-

[howdlep] 18/1/2017 15:18

As we know, with the top four shareholders holding 81% of the shares, there are so few remaining for the market makers to fill any decent buy order. Hence why the share price often rises (or falls in reverse) with each trade.

[howdlep] 18/1/2017 13:26

Nice intra day reversal following the drift down on low volume. Now let's see if it moves up on higher volume over the coming days, as that would be very bullish.

[davethechef] 16/1/2017 18:44

Iron Ore demand

[davethechef] 14/1/2017 17:09

Whilst we await the elusive Rig sale; globally the demand for Offshore Oil drilling should return
hxxp://oilprice.com/Energy/Crude-Oil/New-Data-Points-To-Rebound-In-Offshore-Oil.html

[howdlep] 12/1/2017 12:18

With thanks to DShox over on LSE bb:-

China's Ministry of Industry and Information Technology has posted on its website, a policy that urges shipbuilders to actively seek acquisitions abroad, amid weak oil prices and freight rates that led to a decline in demand for vessels and rigs worldwide, so they can build and develop more offshore equipment. This adds to previous proposals that included selecting 51 yards worthy of policy aid and promoting a move into building offshore rigs.

[howdlep] 11/1/2017 21:32

DaveTheChef,

Many thanks for that link

[davethechef] 11/1/2017 20:55

A reminder of MGR's business taken from QIC, a couple of years ago(today's loan enabling further growth; to show in next couple of Results I expect)

hxxp://www.qatarinvcorp.com/other-investments/

[davethechef] 11/1/2017 15:27

News! Amed loan to MGR to take advantage of their iron ore etc opportunities.

All positive I guess as MGR grows and Amed benefits.

Hopefully next need re update on Rig

[howdlep] 11/1/2017 15:22

Excellent news, AMED provides loan facility to our 49% owned MGR Resources in order to take advantage of the increase in commodity prices. So we benefit from the loan interest and potential profit.



Loan facility provided to MGR Resources Pte Ltd

RNS

RNS Number : 9390T
Amedeo Resources PLC
11 January 2017

11 January 2017

Amedeo Resources PLC ("Amedeo")

Loan facility of US$800,000 provided to MGR Resources Pte Ltd ("MGR")


Amedeo has made available to MGR Resources Pte ("MGR") a loan facility of US$800,000. The facility bears interest at 10% per annum and is intended to be used for working capital. The iron ore price has been rising since its lows (around US$38 per tonne) at the end of 2015 and now is over US$70 per tonne. This rise has led to increasing opportunities in the iron ore market which MGR intends to take advantage of. MGR has an existing US$400,000 loan from Amedeo.



ENDS