||EPS - Basic
||Market Cap (m)
Real-Time news about Creon Res (London Stock Exchange): 0 recent articles
|oilbuy: Thanks Nap.share price sitting quietly as we await news on many fronts|
|share_shark: Certainly something other that contracts, results, new investor on the horizon for CRO methinks. :-)
Juts look at this now.
Beaufort once again and this time recommendation, via the back door for CRO, via LEG !. Hmmmmmmmmm
Thursday, 29th August 2013
Legendary Investments (LEG.L) - Speculative Buy at 0.1p
Over the last few years, Legendary has been recapitalized and quietly built up a diversified and strong investment portfolio. Its proactive strategy is to build value in its investments through more than just the provision of capital. The listing of three of Legendary's investments and its exit of Fastnet validate its strategy. However the real value lies in the value being built up, particularly in VS and Bosques Energeticos, which is not reflected in its NAV, nor in Legendary's share price. Its listed resource investments, while doing all the right things, are currently AIM and TSX-V "out of favour" mining companies. The value being created in Creon is also a potential game changer. We believe the shares are undervalued. SPECULATIVE BUYRead the full report.|
|mike111d: Certainly looking to be a good year for CRO, the share price will reflect this at some point I am sure.|
|share_shark: Here it is............Beaufort Securities aka HBmarkets before.
Creon Resources (CRO.L, 0.68p) - Speculative Buy
Yesterday, Creon Resources announced that Jiangsu Yangzijiang Offshore Engineering, in which Creon has an 18.6% interest, has completed the detailed engineering phase for the construction of its 350 feet Le Tourneau self-elevating mobile offshore jack-up drilling rig. The company said, Jiangsu Yangzijiang is now expected to begin the execution of the project. The detailed technical engineering work which lasted seven months was undertaken in collaboration with Explorer 1 (owned by Mena Offshore Investments Limited). In two years, the rig is expected to be ready for commissioning, the company informed. The share price rose 9.6% yesterday.
Our view: Creon is having a busy year. Le Tourneau, the first rig order worth US$170m, secured by Jiangsu Yangzijian is on track for delivery. The self-elevating rig complying with the modern and sophisticated engineering standards is expected to have a working life of up to 20 years, with the probable commissioning within two years. In April, the company acquired 49% stake in MGR Resources, a ferrous metal and ore trader, with returns expected to begin from H2 2013. Given these positives and the strong progress at the Le Tourneau rig, we are optimistic about Creon's future prospects. We reiterate a Speculative Buy for the stock.|
|swong21118: The share price hardly moved even it is in the news, what a disappointment.|
|oilbuy: ss. There was a bit of selling near the close but the share price held infact it went up slightly. I think our licence to produce the Le Tourneau Super 116E class could be worth a lot of money. Can that licence eventually be sold on. Will theses new rigs be the rage ? To be honest we really don't have a clue of the value. Interesting times ahead !!!!!!!|
|oilbuy: xcap yes indeed. There has to be a few mil profit on the first rig alone. If there are more orders in the pot we could fly. Now seems a good time to buy in . I await large increases in the share price as news gets closer. There was one day last week we were up 9.3% on low volume, wait till the buyer's arrive. Oilbuy|
|oilbuy: Nap hope all is good with you. For some reason you can buy on or below the mid price all last week but the share price has been going up. I wonder if there is positive news coming down the track.|
|oilbuy: The 50 DAY SMA has been crossed. The 100 DAY SMA acted as resistance. Were sitting just below the upper bollinger band an increase in volume should see the share price north to start a new trend.
The share price is at a crossroads in what could be a very interesting time for the company. Let's see if the momentum can continue.
|share_shark: RNS EXcellent, excellent results !.
Share price, quite, quite crackers !.
8 July 2013
Creon Resources Plc
("Creon", "the Group" or "the Company")
Audited results for year ended 31 January 2013 and notice of AGM
Creon Resources Plc (AIM: CRO), the resources related investment company, is pleased to announce the consolidated audited results of Creon Resources plc for the year ended 31 January 2013.
· Group's net asset value up 18-fold year-on-year to 0.41 pence (2012: 0.023 pence);
· New investment funds of more than £12.0 million raised via an open offer to all shareholders;
· Invested US$15.3 million (£9.7 million) in new oil and gas rig construction joint venture with multi-billion dollar
shipbuilding giant, Yangzijiang Shipbuilding (Holdings) Ltd ("Yangzijiang"), for a 46.45% stake in YZJ Offshore;
· YZJ Offshore's associate, YZJOE, a company in which Creon has an 18.6% indirect interest, secures first rig order
worth US$170 million for delivery in mid-2015; and
· Board strengthened with appointments of Mr Ghanim Al Saad as Non-executive Chairman and Mr Glen Lau as Chief
Post period highlights
· Acquired 49% stake in ferrous metal and ore trader, MGR Resources;
· Delivery of YZJOE's first rig order on track with enhanced specification; and
· Development of YZJOE's new rig-yard near Shanghai progressing well with land compacting continuing and skidway
construction expected to start shortly.
Glen Lau, CEO of Creon, commented:
"The year ended 31 January 2013 has clearly been an exceptional one for Creon, transforming itself into a well capitalised and well respected investment company with investments in sectors with high growth potential over both the short and long term. We are delighted with our JV Investment alongside Yangzijiang into YZJ Offshore, which is on schedule to deliver its first order on budget and on time. The development of YZJOE's rig yard just north of Shanghai ought to deliver significant value uplift to Creon as construction on that site continues apace. Our recent investment in MGR is starting to bear fruit and we anticipate receiving our first returns from that investment in the second half of the year. We are financially secure with a strong management team and we look forward to updating shareholders on further developments during the course of the current financial year."|
Creon share price data is direct from the London Stock Exchange