Angus & Ross Share Discussion Threads

[ljsquash] 21/8/2009 14:09

Thanks uncle John!

[jonnyfro] 21/8/2009 14:00

Thanks Uncle John very useful post and I for one am pleased that they are just concentrating on these two main projects as that for me is where the true value lies.. Cheers

[uncle john] 21/8/2009 13:57

Just back from the meeting. Only 3or4 personal investors there. Nick Hall & Tim Daffern very upbeat and enthusiastic. Tim (director of mining) very knowledgeable about Greenland.
Nalunaq
Currently 35 men working to enlarge a level to instal the equipment. All crushing and separation and recovery will be done on site and underground. Easier to work in the winter and easier to conform to environmental standards.

It is certain that clever finance deals have taken place to buy the Nalunaq. Net price will be zero if I understood correctly. We got a mine tha had worked for 4 years, a camp, some 2nd hand machines and the goodwill of the local government.
Mining will be simple room and pillar.

There are some water problems but we hope they are the normal kind of snags that any mining engineer can sort out.
Firm orders for equipment can be placed on Monday now the resolutions have been passed. Some will be new some pre-used. We are going to use local people.
Crew, the previous owner had imported Canadian labour, v.costly and was shipping ore to Spain then Newfoundland for processing. (did not make profit)

BAM
Next month the Cable car engineers return and work on the lower terminal continues. Upper terminal in Spring '10, cable stringing later in year.

We have offtake agrement, the customer wants to take delivery sooner than originally planned if poss. Our Zinc is worth a premium to LME standard price.
It will take about £35million to get into production to produce concentrate.
Quotes from Tim & Nick
We are getting lots of cooperation from Government which wants to be economically independent from Denmark.
Zinc and Lead prices are now above the 20 year average.

Other projects have been let go, Brazil. Or, looking to farm down to a small free carry on Mozz. Greenland Gov have moratorium on extraction of radio-active materials. So forget rumours about Thorium for now

My opinion.
I will back these guys to focus on these two projects.
There is no exploration risk, The funding reduces the financial risk, It will be easir to raise loans rather than equity in the future even for the BAM £35Mil.

I shall stick with them and will buy more.

There is good news to come at the different stages. So we and the wider market will have continued interesting updates.

Disclaimer
All is in my Humble and Honest opinion and you really should do your own research.
It is mining after all.

[jonnyfro] 21/8/2009 13:55

shakey shakey this morning then

[chesil356] 21/8/2009 13:55

Correction 2 v 4, now having to pay full price to buy now.

[chesil356] 21/8/2009 13:34

Level2 2 v 5 now

[chesil356] 21/8/2009 13:13

Market makers buying low and covering sales from yesterday imo

[jonnyfro] 21/8/2009 13:10

level 2 continues to weaken on no visible trades 1 v 5 now another tick down on the way.. Wonder whats going on in the EGM..

[tsmith2] 21/8/2009 13:07

FD have a one year target price of 11p and are far closer to the pulse than edisons are

[yorgi] 21/8/2009 13:03

Hmm thats not very exciting

[hard work] 21/8/2009 09:50

Have read the Edison research note. They only place a value of 2p on the gold mine and a combined value of 4p on the gold mine and first phase of BAM.

Rest of value comes from second phase which isn't due to commence production until 2014.

[yorgi] 21/8/2009 09:35

We will see......too large a spread to trade in my opinion. I was pleased to buy some more recently before the lates rises at just over 2p so if oppertunity does arise I will increased my holding. As one of the long term holders I have been able to bring my average price down considerably and from looking at a loss should now be rewarded with a decent profit.

Who knows what the potential of AGU or Angel Mining is

[jonnyfro] 21/8/2009 09:30

Looks like we could be going lower 1 v 5 now on very light volume - shake out before the EGM?!?!

[yorgi] 21/8/2009 09:28

Guess it is Jonny but we are pretty sure which way its going in the next few months

[madmax2] 21/8/2009 09:28

Extract from UK-Analysts daily stock market report last night:

Edison Investment Research published a note on mining company Angus & Ross* (AGU) as it initiated coverage on the group. The analyst believes 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 12.5 million dollar loan in return for convertible loan notes of the same value and special voting rights. Edison expects Cyrus to enforce the conversion of the loan notes by 31st December 2012, upon which basis Edison calculates a value for the company of up to 11p per fully diluted share. "Our valuation assumes Angus & Ross raises c10 million pounds in debt and equity by Q1 10 and achieves planned production levels at its Nalunaq and Black Angel mines, notwithstanding potential operational risks." Snowden has assessed the gold resource at Nalunaq to hold a total inferred resource of 942,017 ounces of gold. The company plans to produce 2,046 ounces/month at a cost of 350 dollars/ounce generating a total life of mine gross revenue of 85.5 million dollars. The Black Angel zinc/lead mine is seen to be the company maker - with high grade and long life span. The Black Angel will be in production November 2010 and has a JORC complaint resource of mineable reserves of 449kt. Edison believes it will produce revenues of 227.4 million dollars over the initial 4 years and 1,188.2 million dollars generated over the following 19 years. Angus shares added 0.25p to 3p.

[jonnyfro] 21/8/2009 09:26

3 v 2 on level 2 - a few sells going through this morning - suppose its too much to ask for a fourth consecutive day up!

[roks] 21/8/2009 08:47

Come on Angus, do a Regency.....

[linslader] 21/8/2009 08:43

All very calm this am.

[tsmith2] 21/8/2009 08:20

I didnt see this the first time round but FD have a 12 mth target price of 11p!

[moreforus] 21/8/2009 07:39

good luck today guys..linslader spot on buyes and sellers create a liquid market - if there no sellers the mms would shut the stock down and charge a massive premium for anything more than 25k nms ...that seemingly would be healthy but the volatility would be gut wrenching - better .25-.5p a day nice and steady and agu not becoming the latest pump and dump...there is some good sentiment here and hopefully dilution concerns have now been redressed....11p is a 3.5 bag from here ..

resistance imho 3.5p, 4p, 6p and 10p but any chartists can do the fibonnici stuff..hopefully we get a run at 4p over the next week...prelims out the 28th..

[tsmith2] 21/8/2009 07:31

clarkey

pretty much as soon as the new name is approved.

[hard work] 21/8/2009 07:25

Sorry Clarkey - can't now go, too many other commitments which I haven't been able to clear.

[clarkey58] 21/8/2009 05:52

Hardwork, if you're going to the EGM (and read this) can you ask when the new mining licences will be approved ? or what sort of delay will that have ?
Is there any costs involoved ?

Cheers Old chap. Wish I could be there to ask myself. TIA

[uncle john] 20/8/2009 22:33

With the meeting starting at 10:00am will we be out and gone before drinking time. The Coach & Horses, 5Bruton Street looks the best pub around. The rating is 3pints on www.fancy-a-pint.com.

[laserdisc] 20/8/2009 22:11

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