Anglo Asian Mining Share Discussion Threads

[bumpa33] 02/12/2024 17:13

that’s a good point though re: uncapped costs for the well…

[bumpa33] 02/12/2024 17:13

to be fair, Malcy’s always keen.

[wanobi] 02/12/2024 17:07

Malcy's keen, Cheers Wan :-)

""Today’s announcements from Seascape confirm a fantastic farm-out of Block 2A offshore Sarawak, Malaysia to Inpex Corp whilst also landing a useful raise which will take the company through the completion of the deal and take them through to operational activity which in my view will make Seascape a hugely valuable company.

The mechanics of the twin announcements today make a great deal of sense and by releasing a good farm-out along with a raise that includes existing and new shareholders as well as a very decent injection from directors shows their confidence and giving skin in the game.

Seascape has impressed with its first rate relationships in South East Asia which have led to being awarded this very hot acreage when other, larger, more financially powerful companies may have expected to have been chosen. To have now made this strong deal with Inpex rewards the trust shown by the Government and will bring in a powerful partner whilst allowing Seascape to keep a stake in a potentially huge field and thus reward shareholders significantly.

To put this in perspective Seascape has a free carry on a huge well at no cost to them, costs are uncapped so they have no worries about costs going above budget and if the well should come in there is every chance that their 10% of a discovery could be a massive, company game-changer and that could see the company valued at a huge premium, either by the market or by one of the many E&P companies circling in the area. Also with such a good start, more deals or licences in such a good post code might be just the start for Seascape.

Readers will know that when James Menzies announced that the was establishing a long SE Asia/ short Norway policy back in June that I went all in, advising shareholders not to wait for any shilly shallying around and that a ten bagger was the very minimum from the 6p level then.

Now, having raised money at 35p my view will have to be changed as a run to 60p and that ten bagger is looking like too conservative a target. So, if the well was to come in I would expect a very minimum of 600p possibly more and so will set a shorter term target of 350p being a ten bagger from here. ""

[mattjos] 02/12/2024 16:20

Yes, Darren Bowden cleary knows what he is about and turned around Runruno.
Can't believe that Candy will not first have discussed Condor with him and others.
In interviews earlier this yer, Darren was pretty clear that Candy's vision was to take MTL to a $Bn mkt cap & that can only be achieved with some M&A.
Am willing to let things run on for a bit yet & see what emerges after the initial furore has died down, particularly given price of Gold.
La India is so relatively close to Calibre's assets & a candate for the Hub & Spoke strategy that it is always likely to feature on their radar, even if not today.

M&A does appear to be picking up in the sector

[pogue] 02/12/2024 16:18

With you there Bumpa but surely people can read an RNS? Last time it may have surprised a few people watching the presentation and seeing the numbers this time it was what everyone was waiting on, the ability to move forward and get some cash in the bank at the same time. Maybe not 100% perfect but the show rolls on to bigger and better things to come.
Edit
how the hell did it go negative today! Thats some churn.

[2cmb] 02/12/2024 15:56

MTL was a disaster in the earlier years because they could not get the bio.processing plant to work correctly.
Then Darren the current CEO was brought in from the Middle East, If I remember correctly, I think he has worked in South America in his past as well, he got things sorted out over time at MTL.
Candy,I would not trust him far as I could throw him !!
I know little about CNR.

[bumpa33] 02/12/2024 15:48

it’s not moving because stock is still churning. If you recall it didn’t move on DEWA news either for the same reason. And then it didn’t stop moving. The presentation tomorrow is going to be uber bullish. Let’s see…

[pogue] 02/12/2024 15:42

RB
tomorrow is the day if it doesnt rise then its long term. I cannot see how this has not moved.

[zangdook] 02/12/2024 15:06

There are companies which go nowhere for years and then manage to throw out the halfwits and the chancers and bring in professional management and become successful and investable. ATYM for example.

[zangdook] 02/12/2024 15:03

I don't know enough about Candy and MTL to judge, but it may be that they have managed to get past the obfuscation and lies and found out what is the actual problem at CNR, and think they can sort it out. If you think they're competent then it may be worth a punt on their competence.

I wouldn't touch it under current management and I would want to see the problems identified and dealt with, and mine construction begin, if not actual production, before getting involved again.

[riggerbeautz] 02/12/2024 14:55

Pogue I might have become a longer term holder of SEA lol. Just seen my buy went through.

[riggerbeautz] 02/12/2024 14:44

Bumpa the disappointment all goes back to Nigel Ferguson leaving for me, way back to 2008. Had a lot of honest dialogue with him for a couple of years. The rest is history now.

[bumpa33] 02/12/2024 14:33

Rb - wasn’t Child economical with the truth on more than one occasion/again and again? I recall getting out of that one breathing a sigh of relief but can’t remember exactly why.

[jbravo2] 02/12/2024 14:33

I don't buy the whole "rich people don't make mistakes" argument as is often put around on these boards... and as your post alludes to matt. Apologies if that's not your intended slant.

They make plenty of mistakes. They take plenty of risks. Often getting rich off the back of risks that come off. Plenty of mistakes are made though.

[mattjos] 02/12/2024 14:28

Interesting. Thank you guys.Begs the question then as to why Candy is in anyway interested ... folk that rich do not tend to waste their money else they never get that rich in first place.

[riggerbeautz] 02/12/2024 14:16

Sorry JB2 it was a why bother, CNR have done zilch for 15 years or more. Hence why question. If people make money out of trading this news fair dues. It’s just been an endless or is it pointless gravy train for a few so far. They were one of the first miners I held, so underwhelming how they went about things; always a story about what could’ve for me.

[jbravo2] 02/12/2024 14:00

It is hard to comprehend what the issue is now that apparently it is only 0.4% of the land that isn't owned. (So I've read on the boards today - not checked whether that is accurate)
What piece of land can be so vital as to scupper the process when it's so small?
Has anyone ever seen a map with which part of the proposed set up isn't owned?
I haven't but as I say I'm not tracking CNR... however I'll bet they've never disclosed which bit of land it is

[jbravo2] 02/12/2024 13:56

For me it's both.
I've only a passing knowledge of CNR having cast an eye over it for a few minutes several times over the years.
There is definitely something that doesn't add up about the land issues. There has been obfuscation of the issue by the management of CNR over the years.
I don't know why they aren't seemingly transparent but it always made me wary of the issue and therefore wary of their management.

[bumpa33] 02/12/2024 13:54

Both 🙄

[bumpa33] 02/12/2024 13:53

wonder what MJ makes of it, in reality - I’d have been out on the bell this morning if holding MTL. It’s almost as bad as AAZ buying CGNR. Actually, way worse probably!

[mattjos] 02/12/2024 13:52

is it managment of CNR that's the problem or is the asset itself in question?

[jbravo2] 02/12/2024 13:47

Sorry, why what?