Afferro Min Share Discussion Threads

[ridicule] 16/10/2013 15:18

I am becoming concerned that this close to 29 October no date seems to have been set for the IMIC Shareholder approval vote?

[nickdr99] 15/10/2013 18:09

Makes sense mike.. cant see that volume of trades.

[nav_mike] 15/10/2013 17:37

Perhaps they have picked up the stake that UBS offloaded recently? ISTR that was a 5% stake as well.

[nickdr99] 15/10/2013 17:20

Think glg read the goldman broker rec...Wonder if they see a bargain here. 40p of loan notes virtually gratis.

[brettmo] 15/10/2013 05:29

I am definitely confused.com over Goldman. Makes no sense to me.
Sundance is rising steadily from its bombed-out price on rising expectation of a deal in November. Too late for AFF.

[exbroker] 14/10/2013 15:52

It just proves what a complete lot of BOLLOC*S brokers research is, I should know, how many rich analysts do you know??

[nickdr99] 14/10/2013 15:06

Wow! Could there be a fault in Goldman automated broker reports service....Next they will be putting out buy notes on Marconi, Our Price and Safeway...

[michaelwhight] 14/10/2013 14:48

Not sure how that makes sense unless the deal fails. Can't see 260p between now and month end, would love to of course. Am I missing something?

[deltrotter] 14/10/2013 14:12

AFFERRO MINING INC. COM SHS NPV(UK REG) Rating Reiterated by Goldman Sachs Group Inc. (AFF)
Posted by John Perry on Oct 14th, 2013 // No Comments
AFFERRO MINING INC. COM SHS NPV(UK REG) logoAFFERRO MINING INC. COM SHS NPV(UK REG) (LON:AFF)'s stock had its "strong-buy" rating restated by research analysts at Goldman Sachs Group Inc. in a report released on Monday, ARN reports. They currently have a GBX 260 ($4.15) price objective on the stock. Goldman Sachs Group Inc.'s target price indicates a potential upside of 211.75% from the stock's previous close.
AFFERRO MINING INC. COM SHS NP (LON:AFF) opened at 82.00 on Monday. AFFERRO MINING INC. COM SHS NP has a one year low of GBX 49.00 and a one year high of GBX 110.00. The stock has a 50-day moving average of GBX 83.87 and a 200-day moving average of GBX 75.44.
Separately, analysts at RBC Capital reiterated an "outperform" rating on shares of AFFERRO MINING INC. COM SHS NPV(UK REG) in a research note to investors on Tuesday, September 24th. They now have a GBX 120 ($1.92) price target on the stock. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. AFFERRO MINING INC. COM SHS NPV(UK REG) presently has a consensus rating of "Buy" and a consensus price target of GBX 160 ($2.55).

[jungmana] 12/10/2013 14:55

guys O/T take a look at bmn

for an investor looking to hold long term, 3.75p (£12m market cap) is an excellent entry price opportunity into bmn. with an iron ore jorc of 740mt right now(with potential to go over 1bt), excellent mokopane tin resource and soon to take over assets of Lemur and nearly £10m cash. Bmn should be valued at many mulitples of todays price.
Short term bounce to near 10p looks likely once the seller clears and also iron ore resource upgrade news is due any time.
the seller has created an opportunity for PIs whether you looking to hold short term or long term imo.
bring on next week..

[foxx999] 12/10/2013 12:57

I had a think about spread betting aff the other day, but gave up quickly.....Thing is, you really need to ask IG what happens if you are long AFF when they delist. Will you get loan note (they might just transfer it to your name for a small fee). I suspect answer will be 'you will need to transfer the number of shares you effectively hold to another broker before they delist otherwise it just settles at price on last day of trading' (I have transferred from IG to Hargreaves Lansdown before - and it's not that expensive). Overall, be surprised if you can get whole chunk of loan notes for a few pence of margin on IG.... But worth calling them and asking...

[zoomydoo] 12/10/2013 12:39

AFF are about to be taken over if everything goes to plan towards the end of this month. The take over will consist of an 80p cash concideration and a 40p loan note over a two year period which will attract simple interest equating to just over 6p. This gives a total of 46p. The loan note can be paid in cash or shares at the discretion of the company taking them over. There is also some clause that it can be rolled over depending if enough votes are received to allow so ( some posters point out this could be indefinitely).

The shares are trading around 84p, so the loan notes is going to cost at today's pricing around 4p when the 80p is returned on completion of the takeover. This seems to imply a high amount of risk that the notes will not be honoured or the deal will collapse at the last moment / shares issued in lieu of loan notes will bee worthless. Added to this the loan notes will be issued on the Irish Exchange and there seems to be some dispute as whether they will be tradable.

One poster on lSE has suggested this as a game plan instead of holding the shares until completion and tie up capital.

open spread betting account ig index - they can hold note for you. they may or not margin but you will get it put in 20% margin e.g 84*0.25= 20p per share when it goes through they give you 80 cash. you will owe max 4 to ig (84-80) so you can then take out 20-4 as cash and have loan note in short to buy this you only need to put in 20 for 1m, and then can get note if its listed they may also margin it. if the loan has value they may actually let you take out the full 20 you put in you now


I don't really know much about spread betting, is this scenario possible? I thought that the spread bet mirrored the share movement so you would not actually physically get the loan note. Can anyone clarify this for me?

[che7win] 11/10/2013 11:56

A calculated risk, but I have bought a couple more tranches this morning at 82.75p.

We should get 80p back at month end - but as Exbroker suggests there may be a further delay.

I do expect the deal to go through, so I will get 80p back for a 3p loss per share.

That 3p loss could result in 46p in a couple of years time so it's a good risk/reward to me.

[superslob] 10/10/2013 14:22

Exbroker, thanks for the info!

[exbroker] 10/10/2013 11:50

I spoke to the company on Monday, the time table may slip a touch but they don't have to post the notice of meeting and admission paperwork until the 17 at the very latest, if they look as if they will miss this then I assume we will get another RNS telling us.

[zoomydoo] 10/10/2013 09:55

HSBC fine about forwarding the loan notes if required, just received an email response from them to my request for confirmation of their standing on the issue

[livic1971] 09/10/2013 13:39

Wow, WAFMs drill results are awful.

CIM (NI-43-101 compliant) Inferred Mineral Resource on South Djadom Block 1 totalling 76.1 Mt of Inferred Mineral Resource @ 30.3% Fe at a 25% Fe cut-off grade.

Included within this Inferred Mineral Resource is a higher grade colluvial and eluvial cap and near-surface enriched mineralisation of 12.6 Mt @ 41.6% at a 35% Fe cut-off grade.

[robrah] 09/10/2013 12:01

Well ubs have decided they have had enough .Or did they get a special price ?

[pssst] 09/10/2013 09:56

Could this have any relevance? From the ST:

THE London-listed miner founded by former England cricketer Phil Edmonds has won a breakthrough export licence in Guinea after appointing to its board a businessman with close ties to the president.

Last year Sable Mining Africa recruited Aboubacar Sampil, described in one report as the "right-hand man" to the son of the president, as a non-executive director.

This week the company is expected to announce it has become the first foreign developer to be given permission to export iron ore through neighbouring Liberia. Guinea has made the development railways and ports a condition of licences. This includes Simandou, a $20bn iron ore project part-owned by Rio Tinto.

Sable has achieved a coup by sending out ore from its Nimba prospect through Liberia. This will be much cheaper than a route through Guinea.

According to a special report into president Alpha Condé, published by Africa Mining Intelligence, Sampil is the "right-hand man" of Conde's only son Mohammed, who "has control of everything to do with mining".

Sable said: "We have fast-tracked the development of the asset having been awarded the mining licence. This is being developed for all stakeholders."

[gheebee] 08/10/2013 18:33

Yes, indeed, more indications that all is not well:



"A sticking point in the negotiations between the partners and the Guinea government was the route and funding of a railway to get the Simandou area ore to port. The draft plan calls for a new 700km railway across the country to the northern port of Conakry, Guinea's capital. Guinea has the right to take up to 35% of Simandou and 51% of the proposed railway and port project [using non-sovereign funds raised by IMIC and AIOG]. Because of the economic benefit to Guinea the Conakry route was chosen instead of a much shorter and cheaper railway proposed by holders of the northern part of the Simandou concession, BSG Resources and Brazilian giant Vale, to the deep Buchanan port in neighbouring Liberia to the south [which IMIC supported by way of an MOU, now sadly expired, with Liberia, thus potentially annoying the Guinea Government] All work on the BSGR-Vale section has been halted amid an anti-corruption probe [which included Swiss police raids on certain properties in Geneva at the request of the Guinea Government].

[smith99] 08/10/2013 15:34

I am surprised that we arent nearer £1 by now. I guess if the market is applying a value of 2p for IMIC's 40+p Promise it really goes to show how little confidence it has in IMIC coming good on its promise!

[gheebee] 08/10/2013 13:51

Tantalising glimpse that all might not be well with the AIOG/IMIC regional strategy implementation.

hxxp://www.africaintelligence.com/AMA/exploration-production/2013/10/08/simandou-s-infrastructure-conakry-pulls-out,107979985-ART

"The fifth session of the working group on the Simandou iron ore project that was held in Paris on Sept. 18-19 confirmed the Guinea government's intention to ..."

"That company is to be set up by an independent infrastructure consortium chosen by Simfer SA, the subsidiary of Rio Tinto that operates Simandou, and will be ..."

[superslob] 08/10/2013 12:28

Couple of IMIC RNS'S today, the more relevant one to ourselves being a further bond listing. So progress towards T/O still being made even if, surprisingly, no vote date set :-

bond

holding

Incidently, something I noticed in the holding RNS :-

''The Company is subject to the UK Takeover Code. As of 30 September 2013, all UK, Channel Island and Isle of Man incorporated public companies which have securities admitted to trading on AIM will be subject to the Code, irrespective of their place of central management and control.''


Any significance re 30th Sept?