izzy bear
08 Nov 2017
Re: A new order for our yard? Amed has a 46.5% in YZJ off shore engineering, who has a 40% stake in Jiangsu Jangzijiang offshore engineering, which means it has a indirect investment in the shipyard. so from what I can make out, if the ship yard makes £100 million, YZJ would make £40 million, and Amed 46.5% of the £40 million (around £18 million).The rig order from Primeport Drilling had an option for two more rigs, worth US$1.7 Billion in total, and Amed would have received 46% of YZJ's 40% share of profits.Although Amed has posted loses for the past few years, I assume they have to be down to their Investments in YZJ, the copper mines and MGR, plus the loans to MGR, which all should bring in good profits in the future.Remember it was only a few years ago that they built the ship yard, making it a modern ship building yard, able to a built a variety of vessels.
Oh Wise One
08 Nov 2017
Re: A new order for our yard? If it is our yard, the next question is whether it is our jv?Thoughts izzy et al?Further coverage here-[link]
izzy bear
08 Nov 2017
Re: A new order for our yard? Great news OWO, once they put a RNS out it should give the shares a welcome boost,
Oh Wise One
07 Nov 2017
Zombie offshore rigs don't threaten rig supply Very bullish for AMED and note the 2018 jackup contract forecast:-[link]
BOWOOD
07 Nov 2017
Re: JYCMECO Joint Venture Yes I agree the management know their way around the region and I am sure they looking to stitch something together. Low cap, big investors and a base from which to build a diverse operation.
izzy bear
07 Nov 2017
Re: JYCMECO Joint Venture Looks as if you have been doing your homework OWO, and finding the info, makes interesting ready.Like you BOWOOD, I wondered why there was so little movement, there are only 32 million shares, so it seems a little uncanny, I just feel investors don't see the true worth of Amed, and its growing all the time.
BOWOOD
06 Nov 2017
Re: JYCMECO Joint Venture Also of interest is that over the past week or so the market seems to have been happy taking a fair amount of stock at 13p with no mark down which I feel a little unusual. I guess this means it may well have a buyer,
Oh Wise One
06 Nov 2017
JYCMECO Joint Venture Whilst this new jv "investment will not have any significant impact on the earnings per share and net tangible assets per share of the YZJ Group for the current financial year ending 31 December 2017", I suspect this information will need to be the subject of an RNS in next months trading update.Here are the details of the jv:-[link] coverage:-[link] re the YZJ between AMED and Yangzijiang jv:-[link] the full automatic pipe pile production line is NOW is operation:-[link] let's have a PR offensiv
izzy bear
27 Oct 2017
Assets Total assets in the last results amounted to just under US$ 21 million, which makes the shares worth around 60p each, so Amed is way under valued, As I said in my last post, the ship yard has been busy making Blocks, or Containers, We have to remember it took quite a while developing the shipyard, but what we have is a modern yard that can build an array of vessels, so surely it can't be long before another large order is secured.
BOWOOD
27 Oct 2017
Re: H1 mineral exports increase in Iran Unfortunately if you ask a question of someone and give them an opportunity not to answer then the chances are they won't . But I do agree that although AMED has a low MC and may be considered a minnow the management will have much bigger plans which I feel will be made known once we have clarity on our largest investment, that being the rig and the future of the yard and our investment in it.
Oh Wise One
26 Oct 2017
Re: H1 mineral exports increase in Iran Yes I agree totally re things going on behind the scenes. I sent Mr Lau (CEO) a couple of emails after the Interims. They contained observations and a number of questions. However, I did remark that I thought he may not be able to respond to some and those questions and would understand if he didn't reply.I can confirm he hasn't replied.
izzy bear
26 Oct 2017
Re: H1 mineral exports increase in Iran I don't think you need to worry about the Ship Yard, and I doubt the need to put it up for sale, as since the Rig was finish it has been busy building Blocks for Container ships and the gas Industry, as stated in the last results, plus it is utilising it's berths.I have a feeling there is a lot going on behind the scenes that Amed is not revealing, and it may not belong before another order is announced for the well equipped yard.I'm inclined to write this year off with it's ups and downs, plus the problems getting rid of the Rig, but next year to be a bumper year with the Ship Yard, copper mines and MGR expected to do well,Investors will then wake up and see the potential of Amed.
BOWOOD
26 Oct 2017
Re: H1 mineral exports increase in Iran As far as the rig sale is concerned the interim statement said that the rig was being prepared to be delivered. This is not being prepared for delivery which is quite different. I think delivery will take place before the end of AMEDs financial year and we can expect a pre close statement at least no later than the end of December. On another matter it is a pity that we do not have other investors posting.
Oh Wise One
26 Oct 2017
Re: H1 mineral exports increase in Iran Hi izzy,Thanks for your input.I can only go on what is in the latest Interims and Finals:- Finals for year ending 31/12/16Loans receivable c/f $1.4mInterims for 6 months ending 30/6/17Loans receivable b/f $1.4mLoans made in period $1.8mLoans repaid in period $1mLoans receivable c/f $2.2mRe the rig, yes the original order value was $170m. The order was then upgraded by the original client to include $5m of additional features. However, the order was then taken up by Keppel, without those additional features. So the order value reverted to the original $170m.Obviously we are unaware of the exact build costs, so we can only make an educated guess re profit margins. However, I did comment on the LSE board last Saturday:-I read a while back that it was normal for a client to pay for the build costs up front, then when the rig was complete and standard international checks undertaken, the client would pay circa 90% of the balance. The remaining 10% would be exchanged on delivery. Now I cannot say whether that has been the case with Explorer-1, as details are very much confidential. However, we do know that the client was arranging finance and that the wording of the Interims was bullish, re the rig being prepared for delivery. That is suggestive of both client finance and crucially, employment of the rig being in place. Any thoughts re what you think the build costs are?Going forward, it is going to be interesting to see how the yard is utilised, ahead of new rig orders. Or will a big player try to buy our JV yard, knowing their order books are growing rapidly?I personally think we will look to deliver those big ticket orders that our major shareholders invested for. Watch this space.
