Afnat Resources Share Discussion Threads

[robson1974] 13/1/2010 13:23

MEY that deal Areva did to buy 10% from Polo was at effectively 19c a share versus the 14c it is currently trading at

[fordtin] 13/1/2010 13:19

Hi Mark,

"AfNat will have to be cheaper (but not hugely ;0)) before I am tempted."



ditto ;-)



I haven't looked into the respective options & warrants yet. This is as far as my AFNR spreadsheet has got, but hope to find a bit of time over the weekend.

edited -
see next few posts for correction.

[marben100] 13/1/2010 12:32

PS, for anyone that doesn't know: Angstrom Capital (5.8% shareholder) = Mike Beck, also a major shareholder in EML.
PPS nice work, as ever, on the thread, Fordy :0)

[marben100] 13/1/2010 12:21

I am having a look at this, as it appears cheap relative to its assets. I observe that the exercise price of ~50m options is set according to the "Post-completion VWAP", which is the VWAP during the 30 Business Days following Admission. Admission occurred on 24th December, so the VWAP period will end around 5th February.

It is convenient for the option holders if the VWAP remains low until then. ;0)

I also note this, from p264 of the admission document:

"As at the date of this document, the unissued Ordinary Shares are at the disposal of the Board of Directors and are not subject to any rights of pre-emption in favour of the Shareholders."

3,000,000,000 shares are currently authorised.

AfNat will have to be cheaper (but not hugely ;0)) before I am tempted.

Cheers,

Mark

[themoneymonster2] 13/1/2010 10:07

Should have stayed as LMY at 4p : (

[krakow] 12/1/2010 20:23

I must admit I was expecting more fireworks here! Are we alone??

[giantpeach2] 12/1/2010 16:58

where is the news, i think i preferred it as lithic!!! think that was a buy at just under 2p

[humbugg] 12/1/2010 13:52

what a pile of sh#t.

[martinfrench] 12/1/2010 07:30

that will be a while than rasta.

[rastapastamasta] 08/1/2010 11:30

the admission doc is a good place to start.
NB Nickel projects have been mothballed for the time being. This is a U explorer at the moment.
I wonder if URU's Niger assets will be added to the AFNR protfolio once URU's KAH holding has been disposed of.....
rpm

[napoleon111] 08/1/2010 09:47

have put aside a bit of time this weekend to get some research done on this crowd, very busy week here, and its freezing!!

[napoleon111] 07/1/2010 09:58

Thanks rpm, so anything to come from the uranium or nickel projects should send us northwards ;-)

[rastapastamasta] 07/1/2010 09:34

Assume AUS$ to £ rate = 0.568780

URU 13 285 013 @ 35.5 = £ 4 716 179
BMN 2 625 000 @ 82c = £ 1 224 298
MEY 20 650 000 @ 14c = £ 1 642 342
CASH £ 1 500 000

Number of shares: 411 871 350

equivalent to 2.2p per share

All Uranium projects (active) and Nickel projects (on hold) valued at zero.

rpm

[fordtin] 06/1/2010 10:04

Hi Napoleon,

I did a bit of research in December but got side tracked by christmas. I hope to find time to continue soon, so please post anything you find of interest. TIA.


_________

p42 of AIM admission doc

"As at 24 November 2009, the Company had a cash balance of approximately £722,232. Upon completion of the Acquisition, the Enlarged Group will have an estimated cash balance of approximately £1.5 million."

________

p43 of AIM admission doc

"Following Admission, the Enlarged Group will have cash reserves of approximately £1.5 million available to the Directors to fund working capital, finance ongoing work and liabilities in respect of the Group's assets and implement the New Business Strategy (if adopted)."

[napoleon111] 06/1/2010 09:43

Hi folks, i'm thinking of joining the party! Thanks fordtin for setting up the thread. still have to do a bit of reserach but from the above it looks like at least the bod are serious about their investment strategy. Can anyone tell me what kind of cash balance the company has at the moment?? TIA, will get digging after breakfast lol!

[giantpeach2] 05/1/2010 16:42

yes zangdook surprised to see this as low as this but cant trade electronically so that will be putting would be investors off!!! and adfvn not upto date with market cap etc. What value would you put on it if you were to add all assets together!!!

[zangdook] 05/1/2010 14:53

By my calculation the value of the carried-through EXT holding (ignoring other assets of URU and KAH) plus BMN plus MEY plus cash (assuming £1.5m)is 2.853p. So we're at approximately 20% discount, ignoring other assets.

It would be different if I used the URU share price rather than EXT, of course.

[rastapastamasta] 05/1/2010 08:57

Hi GG
I was surprised there was no RNS confirming the result. As you say they have posted it now. There was very little on the agenda....
rpm

[greatgonzo] 04/1/2010 18:18

RPM
Were you querying the original RNS of 21/12/09 announcing the AGM on 31/12/09, or the RNS that was eventually issued at 17.22 today confirming the result??

[rastapastamasta] 04/1/2010 12:55

greatgonzo
Was there an AGM? Why no RNS?
rpm

[imperial3] 01/1/2010 11:39

What excitement this year!!!???

[imperial3] 31/12/2009 16:08

Hope this recovers for 2010.So far a disappointment,from earlier aspirations, from the new board.

[greatgonzo] 30/12/2009 16:11

Does anyone have any expectations for tomorrow's AGM?

[giantpeach2] 30/12/2009 14:27

how many you holding Crimeprotection1!!!!

[crimeprotection1] 30/12/2009 12:44

Hope 2p is the floor, down a fortune here, but not selling!