African Min&Ex Share Discussion Threads

[aleoap] 03/4/2012 08:48

Just looking at other miners in Mali and the comments they have made recently:

Anglogold Ashanti - Morila, Sadiola and Yatela projects
(NO COMMENTS MADE)

Endeavour Mining Corporation - Exploration in Mali South and Mali West
(NO COMMENTS MADE)

IAMGOLD Corporation - Yatela and Sadiola Gold Mines
(NO COMMENTS MADE)

Randgold Resources - Morila, Loulo and Gounkoto Gold Mines
Comment 28th March 2012


Resolute Mining - Syama Project, Finkolo Project, Borokoba Project and Ngolopene JV with Robex Resources
Comment 23rd March 2012


Avion Gold Corporation - Tabakoto and Segala gold projects
Comment 29th March 2012


Robex Resources - Various projects in South and West Mali
Comment 27th March 2012


Golden Rim Resources - Faraba and Sepola Projects
Comment 23rd March 2012


What will be interesting now is what impact the tough sanctions on closing borders etc agreed last night will have. Closing access to the government's bank means the soldiers will now not be paid. All gasoline is imported, this too will now stop. Events will certainly speed up now..

[aleoap] 02/4/2012 14:21

Any news is going to be after close imo. Latest:



RRS is toying with moving positive on the day..doubt anything has leaked yet though

[lennonsalive] 02/4/2012 07:59

The rebels are wanting Sharia law in Mali.

[lennonsalive] 01/4/2012 21:34

I go what is the worst case scenario

What if the country divided? or civil war?
Would AME stay or go, for staff safety?

[aleoap] 01/4/2012 19:44

I see they own a drilling rig. From the last results:

'The ongoing demand for drilling rigs in West Africa has meant that securing acceptable contracts with drilling companies remains a significant challenge, so the Board took the decision to acquire a RAB / auger drilling rig in order to have control over the exploration process in a cost effective manner. Along with the drilling rig, which should be in country and ready for the start of the exploration season towards the end of October, AME has acquired support equipment and utilised experienced advisors to ensure that AME is not reliant on contractors to meet all its early exploration requirements.'

Property, plant and equipment as at end of June was £33k, up from £3k on the previous year so I assume the RAB rig and support equipment came in at a rough cost of £30k.

[aleoap] 01/4/2012 19:14

Of course it isn't good, hence the lowly share price But the trick is to get in as low as possible before the situation improves. Buy low - sell high. This is a fast moving situation so you need to keep track of progress by the hour. Latest is that the Mali coup leader has made a public u-turn, and the threatened sanctions that were going to be imposed tomorrow have now been postponed.

This is positive in my view. I'm watching RRS for an indication of how the market takes this latest news tomorrow.

[lennonsalive] 01/4/2012 18:11

The Mali situation isnt good, I wouldnt advise anybody to invest at this point. I would presume this is the reason for the big sellers.

[aleoap] 30/3/2012 14:41

Just got back in and see -11.8%. I said the other day 3.5p would be ideal entry, but jumped in maybe a tad early at 4p. Not a problem though, just doubled up on my initial first purchase under 3.5p. At 3.375p mcap is £2.8m. And my opinion is they have approx £2.9m cash today. Not many of these value gold plays around these days.

[lennonsalive] 30/3/2012 12:11

I'd wait, the price is dropping here.

Heading for 3p

[aleoap] 30/3/2012 11:20

But yes, I agree novicetrade that the management of newsflow for some reason since mid 2011 went downhill. They obviously have the news, but why not put it out to market. That I don't understand.

[aleoap] 30/3/2012 11:14

Just looking into the history of this one. Looks like the subsidiary Tobon Tondo, was very nearly acquired through an option for upto £1.8m late 2009/early 2010. Carlton did not go ahead due to 'combination of delays in dd in relation to Tobon and perceived timeframe for CLN to raise funds for the acquisition'.

Well we can buy into the prospects now for a EV of imo max £500k today. Market cap minus expected cash. It could even be a negative figure depending on cash levels.

Investors were lapping this up at 12p-22p just 12 months earlier, at a cap of £8.4m to £15m.

Of course since then we have been granted three gold reconnaissance permits in Guinea. We do not know if AME are going to progress to exploration permits at this stage.

So, sentiment has gone from very high to very low, mostly due to management black-out on news but also Mali events.

Worth being in this one for the drilling program in Mali this year and the possibility of exploration commencing in Guinea. Certainly at this price anyway.

[sportsauto] 29/3/2012 20:13

If institutional holders decide to bail out due to the recent Mali news we could have a hefty overhang... II hate uncertainty

[novicetrade68] 29/3/2012 20:08

I have looked into this company as well and must agree with Lennonsalive that 'buyer beware' is justified here.

Firstly drilling results announced in May last year weren't exactly anything to shout about. And after that, the company went pretty much silent by the looks of it - apart from the fact they were and did indeed buy a drilling rig.

However, the company also announced last year they were doing some IP-surveys and that they would announce these results 'within 4-6 weeks'...which they never did...

Then someone here recently posted they emailed the CEO, who said that a 'RNS wasn't imminent, but they were planning a 'position statement' soon'...now to me that doesn't really sound promising tbh...

I think it's entirely feasible that their license area's may contain some gold here and there, but will they ultimately mine any of it ? That I'm not certain of.

[aleoap] 29/3/2012 11:49

Hard to believe this was 22p in Feb 2011. Certainly one of the worst hit in the recent downturn of gold mining stocks. Anyone selling here is selling at a loss, today's share price is an all time low. This reminds me of buying CNR at under £2m mcap where current assets were £2.1m, everything else was in for free. Had to wait a year or so for those to come good. Off out now to enjoy this fine weather. GLA

[aleoap] 29/3/2012 10:02

In fact, i'm not sure if L2 strengthened but instead more mm's are joining. PMUR just appeared at 10:59 and I am pretty sure they were not listed previously. I suppose they are expecting action now in view of up and coming newsflow since the blackout of the last six months.

[aleoap] 29/3/2012 09:55

So today there is a sell of 446,400 at 3.75p, sell of 700,000 at 3.75p yesterday, 1,200,000 at 4p on the 27th and a further 600,000 at 4p on the 27th. That's just under 3 million shares or over 3%. From the website I have the following significant shareholders:

Artemis Investment - 15,000,000 shares 17.8%
Fiske - 11,202,159 shares 13.3%
New City Investment - 10,000,000 shares 11.9%
TD Waterhouse - 3,412,911 shares 4.1%
Williams de Broe - 2,869,486 - 3.4%

edit - L2 strengthened to 5v5 after that sell trade with SPBT moving up. These recent sells are obviously the cause of the drop to 4p from the previous 5-6p range. There are not too many shares around looking at the shareholders list and %.

[aleoap] 29/3/2012 08:58

Taken a first position here today. Looking forward to the below:

'AME staff all returned safely to work in Bamako on Tuesday, where they are working with the authorities to identify a suitable schedule to re-deploy the technical team and commence AME's planned drilling programme. The Company expect this to be a matter of days only.

AME will make a subsequent announcement to the market at that point with a detailed operational update.'

[billbyrne] 29/3/2012 07:02

Some positive news at last.

[lennonsalive] 28/3/2012 15:15

The Mali situation is going from bad to worse, the ousted the current leadership with only a month to go to elections anyway.

It's a military coup and very dangerous, I can understand if they pulled staff or put it on hold.

Still doesnt explain the lack of news in the past and is very poor.

[aleoap] 28/3/2012 13:49

True, although RRS has just RNS'd a relatively positive update on the situation. As far as I can see this is the only gold london listed stock trading at cash levels at present time. Of course there is still risk however at say 3.5p this could make a good risk/reward investment.

[broncowarrior] 28/3/2012 13:16

Yep, this is now officially a "value stock". Not sure when the situation in Mali is going to be stable enough for them to start drilling though, they don't want a bunch of mercenaries turning up at the drilling sight and putting their safety at risk. Incredibly frustrating.

[aleoap] 28/3/2012 12:18

Market cap close to my expected cash levels now here. All prospects in for free just about. Still might get another 10% off though in this market so I'll hold fire for now.