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Share Name Share Symbol Market Type Share ISIN Share Description
African Battery LSE:ABM London Ordinary Share GB00BYWJZ743 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 1.40p 0 05:00:01
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -3.95 -0.18 1.9

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African Battery Metals Daily Update: African Battery is listed in the Mining sector of the London Stock Exchange with ticker ABM. The last closing price for African Battery Metals was 1.40p.
African Battery has a 4 week average price of 0p and a 12 week average price of 1.25p.
The 1 year high share price is 7.50p while the 1 year low share price is currently 1.25p.
There are currently 136,579,143 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of African Battery is £1,912,108.
aidenabettin: Pegasus59How do you know for sure IGS are involved? I know them quite well and havnt heard ivory coast mentioned before although they do work extensively across Africa for the world bank..Thats a big red flag you posted and means lenigas is here. It certainly would explain the share price manipulation and the stock being shorted by his gang of rats..At this low price i would say BUY!BUY!BUY! even with your obvious red flag.
researchanalyst1: The company’s 08th of August 2018 RNS (titled ‘Acquisitions, Issue of Equity and Corporate Update’) stated the following: "African Battery Metals plc, the African focused exploration company developing projects in strategic battery metals, is pleased to announce that it has conditionally agreed to make two separate acquisitions, being the entire issued share capital of each of Cobalt Blue Holdings (CBH) and Regent Resources Interests Corp. (RRIC)." "RRIC has entered into an agreement with RRCC, Lagune and Lizetta Holding S.A.R.L. to earn into 70% of the Lizetta II chrome, nickel, cobalt exploration licence ("Lizetta-II") in Côte d'Ivoire by expending a total of USD 850,000 (£658,000) on the project over the period to June 2021." "The existing exploration licence underlying the earn-in agreement that is the principal asset of RRIC, which falls due for renewal on 22nd March 2019, requires expenditure of approximately £600,000 prior to the 22nd December 2018 in order to maintain its good standing plus expenditure to be agreed on the cobalt-nickel extension to the licence." "On completion, RRIC will have unencumbered cash in its bank account of not less than £50,000. This cash will be available to ABM for its exploration activities and can be seen by shareholders effectively as an additional investment in the shares of ABM by RRCC." "The ABM management team and its newly acquired subsidiaries will be engaging with the government of Côte d'Ivoire very shortly after Admission in order to re-assess the work programme to be delivered." In other words, they’ll assess how much money they need to raise to complete the work programme. "The Directors believe that the Company will be able to raise any required funding." Conclusion: The entry of mining heavy-hitters Dattels and Stalker is a welcomed development. However, until the company can come up with a feasible, non-dilutive plan to monetise Ngoila Nord, Ngoila Est and Ekok (whose licences expire in 30 months time...), and Lizetta II (which expires in 7 months time...), the jury is still out on ABM's current management team's ability to enhance shareholder value. In the meantime, expect the company to raise funds of £1m plus (conditional placing of 40m shares or more at a discount to the current share price…) before October 2018 to meet the RRIC earn-in-agreement and CBH licence conditions, acquisition cost of the Ntam Est and Ngaoundéré licences, and for routine working capital. .
rookie666: Knew a consolidation was coming but surprised by the factor... Do I pull out now and retain at least some of my funds?... Serves me right and very last time I ever buy something cheap in the hope it rebounds (.08p break-even). What's everyone's else's view re near term share price?
rookie666: It was such a change of direction to park the gold project and focus on battery metals. My understanding is they don't have the financial resources to develop a gold mine on their own hence why no further talk of 'Bonanza' gold. Re latest licence, Feel like they've jumped on the band wagon by focusing on cobalt. They're in a very difficult position now in terms of raising further capital (given current share price) . That's why I think we're likely to see a consolidation before raising more funds.... Often needed to get price moving again... Happened with THR and ECR to name but two...
ukgeorge: I think buying under .05p is a good punt. but yes it is a punt. They will find some cobalt and when they do the share price will go up multiple times. Now is the time to be buying a few while the company is under the radar and unloved. Cobalt should remain high for the foreseeable future.
quepassa: Do remember that major shareholder EZCorp actively negotiated over summer2013 with ABM seemingly for some months on the terms of a rescue rights issue which ultimately they could not at that time agree. Negotiating indicates interest. Not being able to agree terms normally means price. If all other parties have now thrown in the towel in The Formal Sales Process, this puts EZCorp in a strong position, in my opinion only , should they still be interested. The two former senior EZ executives quit the ABM Board some time ago and so now would apparently have no conflict of interest vis-à-vis other ordinary shareholders. Yesterday's RNS is fascinating. In some ways, it throws up more questions than it answers. ABM did indeed receive "a number of proposals". But none of the proposals were deemed to represent a "fair value" for the Company. However, somewhat enigmatically, the same RNS also states that "as a result of ONGOING DISCUSSIONS" the Board of ABM continue to explore alternative options to maximise value for all stakeholders. But who are these mysterious ONGOING DISCUSSIONS with? Especially when none of the offers received were deemed acceptable and have all been rejected. There is no administrator appointed to negotiate with and the Company still operates. On the one hand , ABM seem to be indicating that they still wish to max out value for stakeholders but are equally warning that shareholders are likely to get stuffed. This is perhaps a little self-contradictory in my view as stakeholders are normally the shareholders. Who else might a stakeholder be? A creditor (ie the Banks) would not normally be referred to as a stakeholder. Perhaps the term "stakeholder" in this context means a Major Shareholder. The RNS also warns that there may be "limited" value to shareholders. Not negligible value. Not zero value. But limited value. It should be noted that the banks have yet again provided another deferral for the third time. Whereas on yesterday's news alone, that would perhaps have allowed the banks to pull the plug in February rather than roll-over the Deferral again until March, had they wanted. Why do the banks further delay? It seems to me that the act of the banks deferring yet again despite the Formal Sales Process having now been abandoned may indicate,in my view only, that ABM and the banks still expect a take-out of stricken ABM on better terms than the unacceptable proposals received in the Formal Sales Process. On the back of yesterday's RNS, the market cap of ABM has yesterday further fallen by some 50% to a paltry £3.7million at a share price of around 8p. In order to save the Company from formal administration and full break-up and to safeguard jobs, surely the management would recommend any forthcoming bid of a miserly few pence in the pound per share and the banks would subsequently fall into line, on the assumption that the debt would also be taken out or guaranteed, or even agree a debt for equity swap with a better covenant. Personally, it seems puzzling to me why EZCorp go to the trouble, in their recent 14th January Webcast Alert: Fiscal 2014 first Quarter Earnings Release due today 28th. January, to highlight that they have significant investments in ABM when EZCorp latterly wrote down these investments heavily and their shareholding in ABM is now valued at around $2m. That may or may not just be a coincidence. It is however a conundrum. EZcorp also recently filed with the SEC in December a preliminary document called a PRE 14A on 6th. December about their desire to increase their number of authorized shares from 55.5m shares to 120million for the following given purposes:- "The purpose of the proposed increase in the authorized shares of Class A Common Stock is to make available additional shares of Class A Common Stock for issuance for financing activities, acquisitions, stock issuances pursuant to employee benefit plans and other corporate purposes without the requirement of further action by the Stockholders of the Company. The Board of Directors believes that it is important for the Company to have available for issuance a number of authorized shares of Class A Common Stock sufficient to support the Company's growth and to provide adequate flexibility for future corporate needs." This needs to be voted on at EZCorp's Annual Meeting usually held in late February. This may all just be coincidental and have nothing whatsoever to do with ABM, and EZCorp may have no interest whasoever in pursuing ABM. On the other hand maybe they do and it is clear that EZcorp have international growth ambitions. I may be wildly wrong but my guess ( and that's all it is ) is that EZCorp will eventually acquire ABM for a pittance. Banks may accept EZcorp equity in lieu/part-lieu of debt, and ordinary shareholders may , if they are lucky,end up with a few pence in the pound per share. But that is anyway near as dammit nothing for ordinary shareholders given the former value of ABM stock. It will be interesting to watch how the end-game for ABM is now played out. Not many more moves are now left until the game is over. ALL IMO. DYOR. QP
trend surfer: Bengt Saelensminde from the right side has summed AMBs current situation like this, for what it's worth.Is this 19p pawnshop worth £1.74?When banks turned their back on borrowers after 2008, the pawnshops sensed an opening.And to put it bluntly, they made a killing. I mean, pawnbrokers completely derisk the loan by taking full collateral from the punter. And still they charge exorbitant interest rates! Albemarle & Bond (Lon: ABM) is one of the biggest pawnbrokers in the UK. And it wants to cement its position at the top. The only problem with that is that over the last year or so, just about every area of its business has taken a whack. With the plummeting gold price, punters aren't rushing to cash in unwanted jewellery. The banks have gradually started to re-open their doors to borrowers, and the payday loans business looks like it's about to face a rather nasty regulatory shock. To top it all, competition has been stiff – you can't have missed the changing nature of UK high streets, with new cash lenders and pawnbrokers popping up all over the place.ABM invested heavily in setting up new shops (and taking over others). But it now appears that the company overstretched itself. In October, it tried to raise money by way of a rights issue. A rights issue is effectively the issue of new shares to existing holders at a pre-set price - in this case, 50p. Alas, the biggest shareholder, US pawnbroker EZCorp, said it wasn't prepared to back the issue. What had been a steady share price decline turned into a rout.Last week the company announced that has resorted to melting down gold holdings in order to meet the debt schedule. It will also shut its online payday loans operation. And the trouble hasn't stopped there. This morning it was announced that four of the company's directors will leave the board. Wow! It just goes to show what a mess can be made of a business that, up until recently, was in one of the only growing sectors on the high street.Book value or share price?But despite all these woes, if you look at the business, you might think that the share price fall has been overdone. After all, even with debt, the book value of the business (the value of assets) amounted to some £1.74 at the time of the latest full accounts. The main issue is of course the debt and managing the company cash flow. It's all well and good saying that the company has £1.74 in assets. But if they haven't got the cashflow to keep the banks happy, then they can yet be forced into liquidation.But there's more to the share price fall than just cashflow. When the company abandoned a rights issue earlier that whacked investor confidence. Not only that, but the company has delayed publishing its results until next Monday. The markets absolutely hate delayed results. That's just another element of uncertainty that's not needed right now.But there's one more thing that explains the share price fall. And it's one every private investor must be aware of. Especially, if considering buying stocks like ABM in the hope of recovery...The poison pillSo should a brave investor consider 'catching a falling knife' as they say? That is, is it a good idea to buy some stock on the hope that there will be recovery? Provided the thing doesn't go bust, one could certainly imagine ABM stock bouncing from the sub-twenty pence mark to well over a pound in the coming years.And if this company were privately owned, I wouldn't bet against it. When it comes to privately owned businesses, owners will move heaven and earth to keep the thing afloat. For starters, they're less likely to get into trouble in the first place. I mean, in the case of ABM, trouble brewed from over-expansion. Those are classic powerplay antics from a management team that doesn't actually own the business.But secondly, even if private businesses do get into financial straits, management tend to have a few tricks up their sleeve. It may include putting their own personal wealth on line, or finding other routes to raising finance – rich friends, or bankers, will often scratch a back when required.But when it comes to publicly owned stocks, such avenues are seldom pursued. In publically-owned business, the solution to a funding crisis will all too often involve stiffing the ordinary shareholders.And that, my friend, is why the share price of ABM is now below 20p.To my mind, it is no reflection of the true value of this stock. Like I say, the book value of the business is over £1.50 - though we can't put an exact figure on that until next Monday. For sure, the company will not be returning to form any time soon. After all, it's smelting much of its stock and severely constraining new business in its lending units.That said, this is still a decent business. With a bit of streamlining (and debt management), one might expect a return to profitability after the current financial year is out. In fact, for all we know, the business could still turn in a profit for the year ending June 2013 (which is due to be reported next week).All the company has actually said is that it has been losing money for the first five months of the current year. For the period about to be reported, analysts have pencilled in 20p in profit per share. And we know that this figure is too high – the company has said that much!This is certainly one to watch. Will the company struggle on and just about get by? Or will it require financing – financing that comes with a sharp sting in the tale for current shareholders?We shall see. This whole situation highlights one of the nastiest sides of the stock market investing. When it comes to refinancing businesses, ordinary shareholders find that they're all out of friends in the right places.
quepassa: Please don't draw me into any aggro between you and another poster. I respect ST's views. And agree with some and disagree with others. That's the value of a good bulletin board. As far as ST is concerned, he is always very polite in his posts and that is a quality to be admired and perhaps emulated by everyone. I think his point about gold price is indeed a very valid one. If not the main reason for ABM now finding itself in such straitened circumstances. There is a clear correlation between peak gold price at $1850 and the peak share price of ABM. As gold has fallen, so has the share price of ABM who expanded like topsy on the back of this ephemeral boom by opening too many (gold-buying) shops which are expensive to run. ABM expanded their business on the back of the gold-buying boom as people rushed to cash in old gold at sky-high prices. Now that gold has slumped so much, the supply of old gold has dried up and this has smashed ABM's profits, especially at the new shops which hadn't yet built up a reliable/sustainable traditional pawn-broking business and partly because of too much new competition. I think there is a vast difference to the fortunes of ABM if gold is at $2000 or $1000. Bloomberg is a highly respected source. If gold is predicted to fall much further and down to $1000 that is potentially disastrous for ABM's prospects. ALL IMO. DYOR. QP
bench2: Gold Bears out in force , with genuine fears of Cyprus needing to sell its gold reserves followed by Portugal . All metal and energy spot prices look weak and gold no exception bu at U$1360 looks oversold . ABM share price doing amazingly well particularly vs gold mining stocks ... HAT has hardly budged . Interesting to see if they hold up .
quepassa: Gold tumbled an astonishing 4% on Friday. To less than $1500 per ounce. Now down 20% from its August 2011 peak of $1891 Nobody seems to have a good explanation as to why. Even the gold gurus can't explain the enormous fall given geo/econo-political uncertaintainties. In times of uncertainty, gold is meant to go up. But fall it did. Further reinforces my opinion that gold-buying for the likes of Albermarle and kin is going to be less and less buoyant and that any expansionary corporate strategy based or part based on the recent boom in gold buying is in for a challenging time ahead. The ABM share price graph above from July 2011 to now looks dreadful and shows no sign of bottoming in my view. This is against a backdrop of new all-time highs for stock market major indeces. It is interesting to note that the ABM share price price of £4 odd in late Summer 2011 seems to have coincided with the gold price peak. In my view, the smart money is on-line and an expansion of High Street shops now is not propitious in my opinion. ALL IMO. DYOR. QP
African Battery Metals share price data is direct from the London Stock Exchange
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