Aquatic Food Share Discussion Threads

[wstirrup] 18/10/2005 12:20

And according to at least one other site...Today is a buying opp.

[cannonfodder] 18/10/2005 09:31

Buy BHP Billiton, Ashanti, Goldfields, Necrest, Newmont etc... Not AFG in Mugabes hell hole

[wstirrup] 18/10/2005 08:36

There is no doubt that there are miners in so-called western nations who because of existing infrastructure face fewer problems getting the ore to the surface, to the refinery, and thence to the assay office etc.

No doubt this speeds new exploration too. However, MY interest in AFG has been precisely because it is NOT in the west.

Africa is by and large still an underdeveloped continent. The last of the world that requires good governance, and while tinpot dictators like Robert Mugabe exist, Africa will not take its place in world affairs, with his backward look at colonialism. India too suffered because of a backward look at our time there, instead of building on the legacy of good governance. Though she is now changing.

AFG (and thus Mwana) will have the lowest mining costs due to extremely, low wage costs, and will bring much needed capital, and employment to that part of the world.

I have a balanced portfolio, with shares in companies in the U.S., China, UK, Africa, and one or two with multi-national connections. My investments are for the medium term, largely for when I retire, but I take your point that the AFG share price has not reflected the 80% or so rise in the Gold price since 2001/2. That, in my mind, is a foregone conclusion that in the fullness of time it will be corrected.

As to whether I have profited from AFG, it is rather the business of myself and the TAXman. Your affairs (as your opinions) are your own business.

I try as far as possible to post information and informed opinion of others, and yes I do feel a little like the "Boy who cried Wolf!" over the last year or so, due to the failure to see the price reflected. (I guess most investors in AFG are quite small, and those with the shortest time horizons in the main) and that might account for the slow decline.

BUT, I am as firm in my belief today as the first day I acquired (for me) a sizeable chunk of AFG that it will turn out to be a sound investment.

You are of course, entitled to disagree.

An investment, unlike mere "speculation" is like a Tree. You don't plant your seedling today, and reap the fruits tomorrow.

W.

[wstirrup] 18/10/2005 07:13

Some useful insights in that Doug Casey report too... The resources bought in 2002 by AFG are all mines that have been extensively worked for years, so whilst the actual resource amounts will take time to establish, (and their viability) there should be few if ANY environmental pressures, and it is just a matter of time, and money.

Mpinga, seems to, at 40something (48?)be a man on a mission. Mwana's existing Nickel mines, and Gold production will sustain the company dependent on commodity prices, in the near term.

In the medium term, with 2.75 billion people increasing their standard of living in just 4 countries, demand for Gold, Silver, Copper, Zinc, Cobalt and nickel can only rise.

I think if you take a medium term view, and I always have, this play is the right one at the right time. Yes there may be others with potential out there, but we should see things really starting to move soon.


W.

[witteklip] 18/10/2005 02:12

YASO - Very well put

In my opinion this company is designed for the benefit of its directors. However, I think that anyone buying will have an opportunity to buy quality mining AU mining shares at lower prices over the next few months (today 18 October 2005)- therafter I'd hang onto them. AFG is is something to sell short when it rises or avoid altogether. just my opinion

[yas0] 18/10/2005 01:19

WStirrup,

Your tenacity in posting bullish articles on the prospects for the price of gold going forward has been noted. However,at the risk of assuming that this is your sole play geared to the price of gold,it would appear that you have failed to profit from the ascending price of gold (albeit that the appreciation in the pog has been relative to the dollar which for reasons well documented has been in decline for some time now, and not to the same extent against other currencies).

That the price of gold is set to go higher over the longer term (certainly relative to the dollar, notwithstanding it's rise over the past six months) is a view i am taken to.The manner in which one profits from such a rise is, based on your ramblings on here over the past few months,exactly where your judgement is misplaced.

For the avoidance of doubt, I have no position in AFG, save to point out that i got involved in the placing at 9p but decided to sell since it appeared not to deliver on the expectations that had been set out at the time.

Can i suggest, if i may, that you consider exposure to producing miners with a degree of credibility.In this way, you will not seem like a chap who espoused about a housing boom but purchased only a tent.

If you really wish to incorporate junior exploration plays into your portfolio, then perhaps you could cast your eye on juniors listed in Canada (the ideal manner is to purchase in placements which give you the additional warrants).

[maxk] 17/10/2005 23:28

The ghost of Teeling lives on!

[wstirrup] 17/10/2005 22:24

Wasn't Richard Greene the guy who wore tights in the 60's dressing as Robin Hood?

And Green by name...?

If you can buy them back at below 5p Richie boy, then good luck to you...but with a spread as big as has been of late it will be difficult, with just another few days to consolidation. Still CannonFodder might just scare a few more into selling. After all, with 10,500 tonnes of Nickel mined per year, 30,000 rising to 100,000 oz of Gold per year, and excellent management such as we will have in place...the last thing we want to do is get the price down to top up...Isn't it?

W.

[wstirrup] 17/10/2005 20:48

Still think that Mwana/AFG is a basket case?

W.

[miguel66] 17/10/2005 15:58

A lot of scaremongering out there.

Cannonfodder why the panic?

[greenrichard] 17/10/2005 14:53

That's why I dumped at 5p the day the suspension was lifted.

[bennie buffett] 17/10/2005 14:13

Canonfodder I presume they have legal letters of intent, which is standard practice with instutional placings, signed conditional on the reverse takeover being passed at the EGM thus worries misplaced. I think the failure is with the management showing no concern for small investors. If you look at the value of the average trade these are only small retail investors who no doubt don't really know whats going on.

[cannonfodder] 17/10/2005 13:02

THIS WAS MY POST - I AM MORE WORRIED NOW THAN I WAS THEN!!!

Read this quote from the announcement closley. It is clear that no one is underwriting this share issue. In other words if the placing is not full subscribed, there is no one to take up the remaining stock.

AFG are in a really dangerous position now. I have looked at the Financial statements (The accountant that I am!) and have noted that AFG are more or less out of cash!!!!

With the bid and ask price both below the 5p placing price it is hard to see why anyone would take up a single share. Would you buy something for 5 grand that you can buy for 4.5 grand??? Of course not, so why will someone pay 5p in a placing for shares they can buy in the open market for 4.5 or 4.75p??? They wont!!!

And if they don't what happens??? Well AFG have no funds to continue in exsistence!!!! Simple as that.

Will institutions come to the rescue??? Possibly, but if they do they will not be paying 5p thats for sure. They will wait to see that there is no take up and when the company's only option is to offer more shares for the £4M or be forced into liquidation, well its like they will be holding a gun to the AFG directors heads!!!!

You can say i'm trying to de-ramp as people on bulliten boards tend to do when ever anyone has negitive sentiments for a companies prospects, but if someone can disput what i'm saying I will gladly engage in an argument with you!!

Details of the Placing

The Company is seeking to raise #4.35 million by the issue of 8,700,000 Ordinary
Shares at 50p per share pursuant to the Placing, to help finance the costs of
the Acquisition and the Placing and to provide working capital for the enlarged
group.



In addition to the Placing the Enlarged Group will need further finance in the short to medium term, either through debt and/or equity, to enable it to expand
and for certain of its operations to progress from care and maintenance status.

If the Company raises such funds through equity it will most likely utilise some or all of the share allotment authority and disapplication of pre-emption rights being sought at the Extraordinary General Meeting.

[cannonfodder] 17/10/2005 13:01

THIS WAS MY POST - I AM MORE WORRIED NOW THAN I WAS THEN!!!

Read this quote from the announcement closley. It is clear that no one is underwriting this share issue. In other words if the placing is not full subscribed, there is no one to take up the remaining stock.

AFG are in a really dangerous position now. I have looked at the Financial statements (The accountant that I am!) and have noted that AFG are more or less out of cash!!!!

With the bid and ask price both below the 5p placing price it is hard to see why anyone would take up a single share. Would you buy something for 5 grand that you can buy for 4.5 grand??? Of course not, so why will someone pay 5p in a placing for shares they can buy in the open market for 4.5 or 4.75p??? They wont!!!

And if they don't what happens??? Well AFG have no funds to continue in exsistence!!!! Simple as that.

Will institutions come to the rescue??? Possibly, but if they do they will not be paying 5p thats for sure. They will wait to see that there is no take up and when the company's only option is to offer more shares for the £4M or be forced into liquidation, well its like they will be holding a gun to the AFG directors heads!!!!

You can say i'm trying to de-ramp as people on bulliten boards tend to do when ever anyone has negitive sentiments for a companies prospects, but if someone can disput what i'm saying I will gladly engage in an argument with you!!

Details of the Placing

The Company is seeking to raise #4.35 million by the issue of 8,700,000 Ordinary
Shares at 50p per share pursuant to the Placing, to help finance the costs of
the Acquisition and the Placing and to provide working capital for the enlarged
group.



In addition to the Placing the Enlarged Group will need further finance in the short to medium term, either through debt and/or equity, to enable it to expand
and for certain of its operations to progress from care and maintenance status.

If the Company raises such funds through equity it will most likely utilise some or all of the share allotment authority and disapplication of pre-emption rights being sought at the Extraordinary General Meeting.

[cannonfodder] 17/10/2005 12:54

Give it a rest WStirrup. You still spouting your rubbish. As I said before, if you are using mwana as a gold play there are alot more attractive gold plays about.

My post of 3-4 weeks ago is looking more acurate and worrying by the minute!!!

[wstirrup] 17/10/2005 09:03

Looks like there's a lack of buyers out there, over the post consolidation price of 50p, so the mid has fallen to where it is now.

If you get an opportunity to top up at, or around 5p then if you have the funds, my feel is that you will be well rewarded.

The recent drop of 200+ pts on the FTSE is just the first of a series of corrections.

Inflation is around the corner... Some Inflation watchers reckon that with government "hedonistic" measures being used when compiling the official "Stats", this means that the "REAL" inflation rate in the U.S. is more like 6-9% and here in the U.K. could be several points higher, when you take into account, Energy prices, Council Tax, Housing Costs, and Interest Rates.

Of course we don't know the exact rate without a great deal of more data being collected, and I suspect only a large data collector could afford to carry this out reliably. But eventually this information has a tendency to leak out, and then the Gold price will take the next step in the 10-15yr bull run.

And that will mean Mwana's resource base will take a major jump in value. (and the share price will follow)

W.

[wstirrup] 16/10/2005 21:30

Very insightful choc...Very erudite...

[wstirrup] 15/10/2005 23:36

Excellent Find Plunge...

Sounds like Mpinga has his finger on the pulse, and has ambitions for the future that could make Mwana a medium to large mining company in due course.

W.