Angus & Ross Share Discussion Threads

[linslader] 20/8/2009 21:25

No idea, but it's creating a good market and the share price is rising so no worries.

[unconscious] 20/8/2009 20:29

Someone appears to be taking advantage of the recent buying and dumping large blocks of shares. I reckon over 4 million in the past 2 days. Any idea who it might be and why?

[smelleroo] 20/8/2009 19:38

today i believe

[moreforus] 20/8/2009 19:35

i got yelled at when i said target was 6p+5-6p for the gold mine....

thanks for posting the note guys - when was it published?

[tsmith2] 20/8/2009 18:28

Valuation: Up to 11p/fully diluted share

Using a discounted dividend flow model we calculate a value of Angus & Ross of 11p/fully diluted share on the expectation that the loan notes to be issued to Cyrus Capital Partners convert into equity at 2p by 31st December 2012 and that the SEDA facility is drawn down in full (£5 million at 2p). This assumes both Nalunaq and Black Angel (Phase I &II) are developed as planned and excludes the upside potential associated with exploration success, increased production or higher metal prices.


11p/fully diluted share

If the share price rises nicely then it could well be £5mn at higher prices - less dilution.

I dont believe 6p would be an unreasonable expectation when the first bit of gold is poured.

[eye2] 20/8/2009 17:11

thaks smell. looink goodddddddd

[smelleroo] 20/8/2009 16:35

edison research note on agu:

The restructuring of Angus & Ross removes the threat of receivership and
strengthens its balance sheet at this crucial juncture in its development. The
company's major creditor, Cyrus Capital Partners, plans to cancel a $12.5m loan
in return for convertible loan notes of the same value and special voting
rights. We expect Cyrus to enforce conversion of the interest-free loan notes by
31 December 2012, upon which basis we calculate a value for the company of up to
11p/fully diluted share. Our valuation assumes Angus & Ross raises c £10m in
debt and equity by Q110 and achieves planned production levels at its Nalunaq
and Black Angel (Phase I and II) mines, notwithstanding potential operational
risks.

[moreforus] 20/8/2009 14:40

looking good from holiday - looks like some big worked sells filled...plenty of buyers now, good vol and momentum...

higher high on chart...

wooop - off good luyck all

[jonnyfro] 20/8/2009 14:38

6 v 5 on level 2 looking good :-)

[yorgi] 20/8/2009 14:35

The offer ticked up another .25p.....steadily moving forward.

[jonnyfro] 20/8/2009 13:26

Some large buys going through now - surely due a tick up soon!

[jonnyfro] 20/8/2009 12:53

5 v 1 now just KBC left on the offer.. will we see 3p bid today?!?!?!

[argy2] 20/8/2009 12:13

500k looks a sell to me which will hold the price back if he has many to go.

[jonnyfro] 20/8/2009 11:50

still 4 v 2 buys going through closer to the offer so a tick up coming soon :-)

[hard work] 20/8/2009 11:09

Moist - must have had 15m traded this week, you said earlier that 10m for the week would be encouraging are you still encouraged?

[clarkey58] 20/8/2009 11:08

A late 500k trade and a 250k buy just went through.
There must surely be another tick up soon.
MMs must be very tight for stock.

[hard work] 20/8/2009 11:07

I reckon they do have a line of stock available to them - buy of 250k gone through, then a sale of 500k at mid-price.

Let's hope this line is soon exhausted

[yorgi] 20/8/2009 10:40

Thanks Jonny

[jonnyfro] 20/8/2009 10:38

4 v 2 yorgi dont think there is much stock available online..

[yorgi] 20/8/2009 10:37

Decent volume now and still mainly buys.......are we in for another move up ?

Level 2 anyone ?

[bushtuckaman] 20/8/2009 09:12

Yes hard w, that would explain it. I guess that answers your question chrisis33

[yorgi] 20/8/2009 09:04

Not a huge volume but steady buying none the less

[clarkey58] 20/8/2009 08:28

Can anyone let me know the Level 2 details, please.

[hard work] 20/8/2009 08:27

I think, in the strictest sense of the word, there are currently only 240m odd shares, plus Cyrus warrants until the EGM tomorrow. I also suspect FD have covered the conversion in previous notes, but I'l check