African Min&Ex Share Discussion Threads

[selfservice] 28/2/2013 08:33

Investor Evening: African Mining & Exploration and Ferrex PLC

19 March 2013 18:00
The Cote Brasserie @ Cote St Pauls, 26 Ludgate Hill, City of London, EC4M 7DR, UK

African Mining and Exploration (LON:AME) shares are currently trading at just 3.625p, with a market cap of around £3million and approximately £2 million cash at bank covering the cost of planned operations for the next 18 months or so. We recently covered AME with our Value Proposition Report which you can read here.

The company has a clutch of licences in highly prospective ground in Southern Mali, geologically close to significant gold discoveries and gold producing operations and geographically distant from the troubled North East of the country.

Their recent acquisition of Caracal Gold brought in additional highly prospective licences and with resource definition drilling about to start at Kossanto, the company hopes this will lead to the definition of a material gold resource next year. To this end AME are planning to spend up to $1.5 million on exploration work over an 18 month period to develop the recently acquired prospects with this work funded from existing cash resources.



Register Cost: FreeInvestor Presentations 2013 | @ The Cote Brasserie

[highly geared] 28/2/2013 08:32

These are extremely impressive results; look at some of the depths of strike from near surface down to 100 metres. 2g/t + over 75metres continuous is very good.

What this says to me is this area will be amenable to low cost open pit mining and they should be able to do further drilling to prove up a decent JORC with a good portion in the indicated status in fairly short order.

I'd stress again; its the combination of the near surface nature and the grade/length of intercept that is key. A blend of the results confirm to me that this can be developed into a low cost profitable open pit operation given time.

Hopefully the market will catch on as this resource/licence is developed...

[broncowarrior] 28/2/2013 08:22

Haha, me too. I think anything above 10 is excellent, anything above 5 is decent. Might ask CHIP if he would analyse it for us. Check out his small gold miners thread.

[applelover] 28/2/2013 07:47

It's at this point that I wish I was a geologist.

[broncowarrior] 28/2/2013 07:09

Rns in, more positive gold results.

[broncowarrior] 22/2/2013 18:26

Wish it was 75k gbp!

[on target] 22/2/2013 17:30

Its WOW! WOW! WOW! WOW!

[giantpeach2] 22/2/2013 16:48

Who topped up with 75k!!!

[broncowarrior] 18/2/2013 09:56

Agreed - JORC and then bang. I hope it's big enough and of good enough quality to tempt Randgold to buy it. Let's say 50mm slug of cash, then we move on and explore for something else.

THat would move the shareprice into the 30s and trigger warrant exercise etc.

All hypotehtical at this stage of course but that's the sort of impact a decent JORC could have on this company, it would be "transformational" as they said when they made the board changes.

[giantpeach2] 18/2/2013 09:30

It cannot be much longer now for the maiden jorc update and then this should get exciting!!!

[on target] 14/2/2013 08:30

It's a reduction in holdings.

[broncowarrior] 14/2/2013 08:28

Re the rns, is this a third major investor? If so, good news.

[sparty1] 08/2/2013 11:16

The only uncertainty may be about the intentions of prae....(well named) Are they in for long term or going to sell out when a sizeable share price rise comes about.
I mean are they interested in mining ...or just exploration? KAH comes to mind ..Anyway ,until that jorc rns comes out...... volume will stutter again i guess.Frustrating but inevitable.

[broncowarrior] 07/2/2013 10:23

I feel these board changes have caused some uncertainty. We were finally moving and now we don't know the agenda of these large shareholders. Hopefully it is to get the JORC released as soon as possible.

[giantpeach2] 06/2/2013 08:42

That's what you call a shake up!! can only be good long term.

[highly geared] 06/2/2013 07:28

On balance a good thing as major shareholders now have seats on the board and the BOD costs are reduced? Will hopefully mean their absolute focus is on creating shareholder value. The only downside is if the guys leaving were seen as important to the day to day operations...

[drewz] 06/2/2013 07:26

Must have thought Stephen Oke & co were taking too much remuneration out of the company at this early stage for doing nothing, when cash should have all been going into exploration. So the main shareholders sacked them and replaced them with themselves/their own reps taking only nominal £1 pa in pay.

[broncowarrior] 06/2/2013 07:09

What is that rns all about, concerns about way money is being spent?

[broncowarrior] 05/2/2013 16:45

Cracking day, about 8% of free float (excluding director holdings etc) traded today.

[sparty1] 05/2/2013 15:57

self ...yep ...keep it fresh.. Dont want the yo yo kicking in..

[selfservice] 05/2/2013 13:09

recent value proposition report here:




interview with MD here:

[moreforus] 05/2/2013 12:35

looks pretty good...sells being absorbed and dips ..what there are ...bought

[sparty1] 05/2/2013 12:27

Lunch!

keep an eye on the progress..I dont want indigestion when I get back!.....

[sparty1] 05/2/2013 11:57

the last 16 trades are buys latest @ 4.50 and volume cruised through a million to 1.2 mill. May not sound a lot but if only 52 mill free float ..quite a % ....

UP 25% on the day... I wont be happy til we get in double figures..