|Wow! That's indeed encouraging & impressive for our JV partners, in these difficult times, although improving.
Most profitable maritime company un China. It continues to attract the substantial orders.
Greater overspill work for our offshore yard, I'm expecting.
Our market capital doesn't reflect our assets & potential.|
|Excellent news for our jv with Yangzijiang and the delivery of Explorer-1 rig:-
Yangzijiang chalks up stronger profits for Q1
YANGZIJIANG Shipbuilding saw a 49 per cent year-on-year rise in net profit to 667.67 million yuan (S$135.4 million) for Q1 FY17.
Revenue for the quarter rose 73 per cent to 4.68 billion yuan; with 14 vessels being delivered in Q1 2017, revenue from its core shipbuilding business increased by 43 per cent to 2.89 billion yuan.
Earnings per share rose to 17.42 renminbi cents from 11.69 cents a year ago.
Executive chairman Ren Yuanlin said: "The improved sentiment on the shipbuilding market not only led to a pick-up in new shipbuilding orders, but also helped us find new buyers for several orders that were previously terminated."
He added: "However, as the sustainability of the recovery is uncertain, we will remain cautiously optimistic, mindful of the market dynamics, give preference to good-quality orders and continue to build up the order book."|
|Recent article on Singapore's dominance as the global's offshore & maritime industry.
I guess the web page re: MGR Resources on Amedeo's website, is possibly withdrawn/being updated for June Results, due about 6 weeks from now(I tried to enquire on missing details, by ringing Amedeo's London office, a few days ago, but have had no return call from management. Just spoke to 'Ellie' receptionist, who said this is our registered office and would pass on my enquiry. Disappointing!)
I'm expecting June results to be good, and especially September's, much improved, on MGR's contribution(year-on-year)
Plus our offshore yard, should be earning greater revenue, in these results.
To hazard a guess, I'm expecting the rig sale about July/August.
And possibly around abaout Autumn or Winter-time, Amedeo increasing their stake in the copper mine, again benefiting MGR Resources.
Additionally, we could also see another interesting development, project tie-up from Amedeo or substantial contract, development for our offshore yard, this year.|
|very difficult to pickup any stock, hence why the ask has jumped. However, if the mm's are going to make a market, they will of course have to attract sellers. All very interesting as we await news.|
|Very recent interesting, detailed view on rig market, present & future. Mixed, but again mentions high spec' rigs are most in demand, as we know.
It's the continued waiting game, re rig delivery.
However, it'll be interesting how MGR Resources has preformed on last year's second half commodity price rises especially, in June's Results(last year came out on the 14th)
Let's see if the web page re-appears on MGR Resources!!!
Has the offshore rig yard, picked up greater work & revenue too(overspill work from YZJ)|
|Bit strange, but if you click under Investments on Amedeo Resources website, & onto MGR Resources, there appears no information. Perhaps the page is being updated??? Or there's some announcement due.
Tomorrow it's 4 months since the rig update, we really could do with the latest, or will we have to wait until June's Results, one wonders? As I've mentioned before, it's looking increasingly like the Summer for a rig delivery sale, in my opinion.
They're really dragging this down on miniscule sells!|
|More good news for our JV partner:-
|Yep a nice defensive spread. Allows MM's to gather stock and control sales|
|Happy to 'take-on' good sized amounts at 21/21.18p but unable to buy more than about 8,000 shares or else it goes to NT; usually a very positive sign.|
|chipperfrd27 Mar '17 - 09:33 - 2814 of 2817 1 0
Perhaps there is a degree of 'end-of-tax-year' portfolio adjusting going on. It is fairly normal on the LSE at this time of the year. If so, it will all end soon.
|Expect usual end -of -tax -year selling, until middle of next week.
Copper & iron ore prices still healthy.
MM's have overdone this somewhat on just a few tiddly sells; approx. 21.15p to sell now and 23.98p to buy.|
|Now that we are through MA50, I am looking for a quick test and break of 26.5p. Then we can start to think about c32p level.
free stock charts from uk.advfn.com|
|MM's pushing up the ask with each buy, but they are going to have to start attracting sellers very soon. Just no stock around. Imagine what a good RNS will do...|
|Can now only buy 5000 shares online. As always, very difficult to accumulate with top four shareholders remaining constant, holding 80.76%. That leaves just 6,282,600 free shares to be traded when good news is delivered. The reality, however, is that the mm's will struggle to get any stock. Hence why the share price will move so fast, with all dips being bought very, very quickly.
Just a little more patience required. As ever, DYOR, but my I will continue to accumulate weakness, if any stock is available!|
|Interesting our customer is Keppel FELS. However, I suspect they have their own client?
Cancellation isn't a concern for myself, as given the high spec, which you have quite rightly referred to, the rig will be in demand. Also the original contract will include cancellation charges. As has been the case with one or two of Keppel's own orders which have been cancelled and resold.
To be honest, I am waiting for a new rig/vessel order. In the meantime, I am very pleased with the recent Iranian investment, as well as the additional loan to MGR. I have no doubt they will take the option to increase that investment.|
|It's indeed an encouraging article, from Offshoreenergytoday; I seen a less detailed article on the deal re Borr's Drilling with Transocean, dated & posted on same site, from the 20th.
For some months costs of offshore drilling has become cheaper & more attractive, although for greater attractiveness oil prices, will hopefully increase further, in time.
I'm of the opinion, that our offshore partners are holding out for the best price/climate & the 'another party' mentioned in the 21 December RNS. That could be astute, and may mean the difference of a £Million or two greater price, than some months ago. Whether that means another few months, and into the Summer, remains to be seen.
I see the customer mentioned in last year's news releases, as possibly unable to raise the required remaining funds. As I'd have thought months before the 21st December RNS, and into this year, would have been enough time to 'broker a deal'(and for finalising the workers required)
below taken from 21 December Update RNS
'The purchaser is in the process of securing financing and employment for the rig, and is in discussions with third parties regarding both. The purchaser has requested that delivery of the rig be delayed until financing and an employment are secured.
YZJ Offshore is confident that Explorer 1 will be sold either to the original purchaser or failing which, to another party. Explorer 1 is an established and advanced design with a popular footprint and at 350ft, is relatively efficient to operate'
So as has been mentioned in previous articles posted here, the high spec' jack-up rig we have, is one of the most sought after, in this recovering market.
And then we have an improving revenue-generating MGR Resources & other opportunities that AMED may be involved in, in the future.|
|Full ask of 23p being paid now for just 5k shares. Another tick up coming|
|Rig markets improving for the better...
Investors throwing money at offshore rig deals, and the deals look promising:-
Agreed that the share price is poor, but maybe a contribution or two, by the way of adding further links, headings, to your thread, might help.
Possibly copper & iron ore price charts, links, the aforementioned QIC link etc.
The rig delivery delay is disappointing. I guess it'll be resolved sometime, hopefully in the not too distant future. But it's not just about the rig(although that should give us a number of £MIll cash-back to Amed's 19% holing) it'll be interesting to see what develops with the Offshore yard. Then there is the likely copper mine greater stake; plus MGR Resources looks increasingly lucrative & proactive, in the improved commodity cycle.|
|A very interesting post DTC and transaction totals will only increase further, given our 2.5% investment in Ganjine Kani Company. This will obviously allow MGR to diversify its commodity trading. Great news for AMED, given our 49% holding in MGR.
This from the RNS, dated 19 January 2017:-
Amedeo is pleased to announce that it has acquired a 2.5% stake in Ganjine Kani Company ("GKC") for US$500,000, a copper mining company close to the city of Mashhad in Iran. As part of the transaction, Amedeo has a 5-year option to acquire a further 5% of GKC for US$2 million.
GKC is a producing miner. GKC also has the required infrastructure to produce copper concentrate from ore. To date, around 1 million tonnes of ore has been extracted by GKC which contains, on average, 0.9% copper. GKC has three mines.
Iranian studies estimate that the producing mine alone may have at least 6.5 million tonnes of copper ore with a 0.9% average copper content. The extent of the ore and its copper content has yet to be confirmed to international standards.
GKC has been selling copper concentrate into Asia, including China. MGR Resources PTE Ltd ("MGR"), which trades and brokers iron ore and in which Amedeo has a 49% stake, intends to work with GKC to increase GKC's supply of copper into East Asia and China.
Glen Lau, Chief Executive Officer of Amedeo said "We are pleased to have made this acquisition which will allow MGR to widen the commodities it trades and brokers and, at the same time, give MGR a captive supply of copper."|
|This Is Terrible !|
|There has been updated figures and wording re MGR, on QIC's 'Other Investments' page under Background.
Maybe it was updated for the New Year, but I can say I checked the previous page(wording) about the end of 2016, and MGR's total transactions read then, I'm pretty sure about $55Million.
Now it read's totalling $93.5Million.
We don't know when these figures take us to, but that's an impressive improvement!
June's Final Results were on 14 June 2016, so should be about 3 months wait. They should excite, as will the Interim Results in September.
As for the rig delivery, I'm of the increasing belief it'll be in the Summer(an update would be useful) BWTFDIK!|
|Our JV partner, looking increasingly strong with a healthy outlook.
With oil prices stagnant(although analyst expect a brighter 2nd quarter and further into 2017) it's been mentioned before by the Chairman of YZJ that for our offshore yard, LNG & clean energy vessels could be the future.
One expects our yard to have picked up greater 'overspill work' since last results/September.|