African Consolidated Share Discussion Threads

[mclellan] 08/12/2014 08:39

Thanks, yorgi

[jenny tulwought] 08/12/2014 08:18

Tweedle Dum & Tweedle Dee hoping for a better week this week - (great!)

...oh and some good research has been posted - (even better).





...and how's the share price looking boys?


(chortle)

[yorgi] 08/12/2014 08:03

Good research from Castaway from LSE :

"I have done a bit of research on the potential new asset AFCR propose to invest in - The Baita copper mine.
The first link is a pdf from Eldore mining an ASX listed co. from 2011 when they were looking to buy the mine for a reported 15mil USD (see second link for info)
Apart from the rated throughput of 120,000 tonnes of copper, there are assays showing 24% Copper and 12.4% Gold - good by any standards. If you read the Eldore pdf to the bottom they refer to the tailings dump. The mine was apparently run for several years with inefficient equipment giving only 65% recovery rates, and the tailings dump is rich in minerals, inc., around 300kg of gold - extracted that's £12.6mil worth approx. as well as Lead Copper Zinc, and Silver.
If they can get this mine producing again and also extract the metals from the tailings, it looks very good. There should be trained workforce (as the mine ceased production in 2010, due to a fraud from a Swedish company - allegedly)."

[yorgi] 05/12/2014 17:56

Hopefully a better week next week when those who have a view looking into next year see the opportunities that are evolving here and I'm confident that Roy Pitchford has the skills and experience to take us forwards to be a producer over the coming year....hopefully now with two mines producing.

[yorgi] 05/12/2014 17:52

What I would like is some more "meat on the bone" regarding Baita Bihor from the looks of it we have got an bargain there, gives us more interests in Romania an EU country and by the looks of it a mine that can be brought back into production in a reasonable timeframe.

That is the news I'm looking forwards to now and could well be our next news. We could then find we will have two mines in production next year which will transform our company and with it we will see a much larger market cap.

At the moment the market wants to see more signs that we will be moving from explorer to producer in the coming months.

The upside from here is substantial in my view we should see a share price several times this derisory figure over the coming weeks and months.

[yorgi] 05/12/2014 13:05

Buyers slowly building up and gradually paying more.

The market cap is crazy, well undervalued.

[yorgi] 05/12/2014 12:42

We appear to have buyers now :-)

[yorgi] 05/12/2014 12:32

Quite why there are sellers at this level with what was in the interims yesterday quite astonishes me.

If we had two mines up and running next year.......we don't have any detail on BB yet but it looks interesting :-)

[moreforus] 05/12/2014 12:24

lol maybe now

[moreforus] 05/12/2014 12:24

still keen sellers Yorgi

will add more when they dry up

[yorgi] 05/12/2014 12:23

Could we be producing from 2 mines in 2015 !

We need to know some more detail as to how long it will be but it looks encouraging :

"to enable the Baita Bihor mine to be put back into production."

[yorgi] 05/12/2014 11:57

This does look like a bargain to me :

"In November 2014 the Company entered into an option to acquire, at its
own discretion, a 68 percent interest in Mineral Mining SA which company
owns the Baita Bihor polymetallic mine in Transylvania, Romania. The
acquisition price is EUR1,200,000 (approximately $1,630,000) of which
EUR950,000 (approximately $1,290,000) is payable on a deferred basis.
The Company is in advance stage discussions with the intention of
raising approximately $2.5 million by way of a placing of ordinary
shares in order to finance the acquisition of Mineral Mining SA and to
enable the Baita Bihor mine to be put back into production. It is
expected that the directors will participate in this placing. "

Although of course funds to be raised and procedures completed no doubt but that undoubtably is good and gives us a second project in Romania. Quite why the market has not reacted to it surprises me.

[moreforus] 05/12/2014 08:23

this is swinging blue!

[yorgi] 05/12/2014 08:23

Certainly interesting Mclellan and buyers think so now as well :-)

[mclellan] 05/12/2014 08:07

Interesting, yorgi.
That might explain the strange drop yesterday after an initial mark-up.

[yorgi] 05/12/2014 07:49

What will today bring, the Mining Weekly publication is on the ball it would seem. I couldn't see any reason for yesterday's drop from the interims as the figures were largely known and there were some interesting pointers in the statements and Mining Weekly has put some "meat on the bone"

[yorgi] 04/12/2014 19:00

This in interesting I have just seen on the LSE BB......:-)

Is this our new Romanian project ?

Courtesy of Eyalangel LSE at 17.39



Courtesy of Castaway LSE at 14.23

[yorgi] 04/12/2014 16:03

Agreed Moreforus, buy while the herd sell and present a lower buying opportunity again. Focus on facts and what our BOD tell us backed up by some research and take advantage of the drop :-)

The market, sellers reaction to todays RNS is without question disappointing but value will out in the end.

[moreforus] 04/12/2014 15:44

happy with the update and happy yo buy here regardless of what the market thinks

better to buy on weakness than get spiked

[themattbarnes] 04/12/2014 15:18

dont forget:

"Loan of $2,000,000 secured of which $1,000,000 received in connection with opportunities in Romania."

someone was happy to lend 2M-USD to go further into Romania, an update on this country would be great from the board.

[yorgi] 04/12/2014 14:19

For our CEO to have put the following in his statement then they must surely be looking very closely at something else which as yet we know nothing about on top of our known Romanian asset :

"The Company is advancing discussions regarding a number of opportunities
and will make further announcements, as appropriate, in due course."

Surely interesting if not very good news as well :-)

I like the way our BOD are exploring opportunities in Romania......they do have some areas of rich mineral resources.

[yorgi] 04/12/2014 14:01

I would also add as I'm have been buying for the coming year when we have news and real tangible progress on any or all fronts then we should be looking at a share price several times the present price.

[yorgi] 04/12/2014 13:58

Mclellan crazy drop I agree but the listed bid/offer and therefor spread should not be taken to much notice of in my view I often one can deal well within the listed prices.

[mclellan] 04/12/2014 13:56

What a crazy morning...crazy drop, crazy spread!

[yorgi] 04/12/2014 13:54

Welcome to the BB Mattbarnes and I hope it proves to be a profitable investment and anyone who knows anything about these "games" it nearly always takes longer than we expect