African Aura Share Discussion Threads

[thelads1] 14/4/2011 05:58

Morning. Well my tdw account now indicates my AAAM shares are back in my P/F listing (they disappeared mid day yesterday). No sign of either AFF or AUE. Another phone call on the way

[arf dysg] 13/4/2011 19:31

maccalondon (9142) "I bought 2500 AAAM several years ago (don't even remember what they were called originally)"

Don't know if we should continue this on another thread but...

They were either Mano River Resources and there's been a 1-for-8 consolidation in the meantime, or they were the OTHER African Aura, and I don't know what the ratio would be. The above people answered assuming that the number of shares you had last week was 2,500.

[enami] 13/4/2011 17:11

To quote from HMRC Help Sheet IR285

"SHARE REORGANISATIONS INVOLVING DIFFERENT CLASSES OF SHARES.

The time at which you split the cost of the different classes of share depends on whether or not any of the shares are quoted on the Daily Official List of the Stock Exchange, or any other recognised Stock Exchange, within 3 months of the reorganisation taking effect:

• quoted shares - you value the different classes of share on the first day when values are quoted for the shares in the reorganisation."

[ I seem to recall reading somewhere that it is the mid price share price at the close you use for the valuation but I cannot find the reference. I guess you can use the price which gives you the advantage in CGT calculations but it will even out in the end as a higher calculated cost for one means a lower cost for the other.]

Also

"DEMERGERS
A demerger in which a company distributes shares in a subsidiary to its shareholders may be treated as a share reorganisation. Because the shareholder will then own shares in the original company and the subsidiary, this is a share reorganisation involving different classes of share. It is therefore necessary to apportion the allowable cost of the shares using the rules explained in the section 'Share reorganisations involving different classes of share' on page 5. A listed company making a demerger will usually tell its shareholders whether the demerger is a share reorganisation."


About 0.5% difference depending on wether you use the opening or closing prices.

AFF OPEN 185 61.7%
AUE OPEN 115 38.3%

TOTAL 300


AFF CLOSE 181.5 61.2%
AUE CLOSE 115 38.8%

TOTAL 296.5

[unionhall] 13/4/2011 15:01

Correct - it has been split into the two above...

[nomunnofun] 13/4/2011 15:00

yep - as of close of play yesterday

[maccalondon] 13/4/2011 14:59

...and AAAM is discontinued?

[unionhall] 13/4/2011 14:53

You own....

2,500 AFF

and

2,500 AUE

Happy days....

[deltrotter] 13/4/2011 14:53

You should own 2500 of these:

Afferro Mining Inc - Iron Ore company
Aureus Mining Inco - Gold company

[thelads1] 13/4/2011 13:02

thanks in anticipation G78

[greenroom78] 13/4/2011 12:59

Cheers UH, I'll go for RNLI if you're ok with that.

Also I started cataloging valuable posts from this thread last night. When I have a complete list i'll post it up as an index to help finish this thread. I'll split them into AFF and AUE where possible with a brief summary so you can reference it from the new threads if you wish.

[unionhall] 13/4/2011 09:35

AFF is free read/write - there are a number of non subscription posts there already - just try logging in to it a couple of times.

GR78 - your money - your choice...cheers.

[singing the blues] 13/4/2011 09:24

Longsight why have you chosen to make AFF paid bb?

[greenroom78] 13/4/2011 09:13

Unionhall, Once more thanks for your efforts with this bulletin board and thanks for the new ones. Appreciate your efforts.

If I were to put a few quid in a charity box on your behalf do you have any preferences?

I'll try and use the new ones from now on.

[longsight] 13/4/2011 09:09

I think we shd all start using the new thread for Affrero:



& the new thread for Aureus:



I'm going to stop posting here & just post on the new threads

[deltrotter] 13/4/2011 08:57

Thanks MT - "We think the signing of a JV partner to co-develop Nkout (expected during H2 2011)"

Likely I guess - would be difficult for AFF to do this themselves maybe.

[pleco] 13/4/2011 08:55

AFF now on my ADVFN monitor

[matrixtrader] 13/4/2011 08:52

To view or print complete Comment click on this link.

RBC CAPITAL MARKETS EQUITY RESEARCH - Price Target Revision

April 13, 2011



Afferro Mining Inc. (ASE:AFF; 187; TSXV: AFF)
African Aura Transitions to Afferro Mining

Rating: Outperform
Risk Qualifier: Speculative Risk
Price Target: 250 (prev: 370)

Gold Asset Spinout Completed. African Aura has formally completed its separation into gold-focused Aureus Mining Inc, and Afferro Mining Inc. ('Afferro'), the iron ore development company focused on the Putu project in Liberia and the Nkout project in Cameroon.

Iron Ore Assets Remain Prospective. Recent development activity in African iron ore projects is positive for Afferro, in our view. We think the signing of a JV partner to co-develop Nkout (expected during H2 2011), ongoing drill results from the 62km program at Putu (completion mid 2011), and the Putu prefeasibility study (mid 2012) will be key potential catalysts for the rerating of Afferro shares.

Attractive valuation, with challenges. Reflecting successful completion of the split, we have tweaked our NAV multiple slightly upward from 0.5x to 0.55x for Afferro. We see upside for Afferro shares and rate them Outperform, Speculative Risk with a £2.50/sh (C$4.00/sh) 12-month price target.

[singing the blues] 13/4/2011 08:50

Just for your info the new shares will be allocated for trading tomorrow (info from iii)

[thelads1] 13/4/2011 08:43

i'm holding both. Genuinely believe good updates on the way. 100k Director buy this a.m. at 187 bodes well

[seconduser] 13/4/2011 08:38

DONSKA try MONEY....AM the current price is 182/185

[donska] 13/4/2011 08:35

Thanks Del for your insight

Shareprice does not recognise new codes either

[deltrotter] 13/4/2011 08:32

hold both. both have incredible potential. my advice, if i were giving it, would be to not underestimate the gold side. These guys appear to be going to be moving ahead quickly and could be producing by the end of next year. If that is the case, then the analysts can start putting in real figures.

Gold at $1450 and these guys will be able to pay of the debt in about 12 months post production... AIMHO.

[donska] 13/4/2011 08:29

Hargreave mentions corporate action are not in until 9am so nothing can be done until then...how annoying!

Are peoples plans to hold both or sell either the gold or iron?