izzy bear
26 Oct 2017
Re: H1 mineral exports increase in Iran Just to clarify the loan situation, MGR Repaid (in the half year results in June 16) $1,717,000 of the loan, and the remaining $1,200,000 according to the Sept results, the original loan was for $2.200,000, and I would imagine the extra $717,000 was accrued interest on the Loan.Amed then made available to MGR a $800 K loan facility, just a point, MGR paid interest on the original loan of $717k, but it will only pay 10% interest if it starts using the $800k loan facility.Regarding the rig, you said the order value was $170 million, how much profit Amed will make on the sale remains to be seen, as someone had to pay for the steel and labour to build it in the first place, there is also the added cost of storage, It seems looking back at the RSN's, the original buyer of the Rig could not raise sufficient funds for it's purchase, so an alternative buyer had to be found, hence the delay in delivery.The Shipyard, I was of the opinion it was a white elephant, but it appears it has been quite busy building containersSo a bigger picture shows us Amed is doing quite well, plus I feel we are all agreed that once the copper production starts, it will be a lot bett
Oh Wise One
25 Oct 2017
H1 mineral exports increase in Iran Good to see H1 mineral exports increasing from Iran in H1. Good news for our 2.5% investment (with a further 5% option) in the GKC copper mine and MGR commodity trading:-[link]
Oh Wise One
23 Oct 2017
Re: Question re loans to MGR Yep agree with the US$2.2m figure that MGR owe us re loans.Strange price movements today, I guess just mm's squaring their books and making a tiny profit. As always, we await that RNS.
BOWOOD
23 Oct 2017
Re: Question re loans to MGR Balance Sheet tells us that at the end of June MGR owed AMED 2200usd which is 1400 from December and a further 800 since then. Also interest bearing which will help. We do of course benefit or lose out when the usd are converted into £s. That's my understanding but I could be wrong. In any event I agree that holding at these levels - 15p could result in substantial progress in the sp in the next few weeks.
izzy bear
23 Oct 2017
Re: Question re loans to MGR From what I can make out the £1.200,000 loan was paid in full, as stated in the results, the £800k was a loan facility , like you have a bank over draft, (you may not use it but it's there if needed) and interest is paid on money used.There is also the problem with exchange rates, which fluctuate daily, as in the £1,200,000 which when exchanged worked out at $1,664,000, as you stated, but can move up or down by thousands daily, So my assumption is there no money owing to Amed, unless MGR uses the Loan facility put in place.Not very helpful I'm afraid, maybe BOWOOD could help you more.
Oh Wise One
23 Oct 2017
Question re loans to MGR First may I thank both izzy bear and BOWOOD for thier contributions here. You help me assess and re assess my own research. Very much appreciated.That being the case, may I ask your thoughts re our loan to MGR Resources?In the RNS, dated 11 January 2017, MGR was granted an US$800,000 loan, at 10% pa interest. This was in addition to the existing US$400,000 loan.In the Finals, dated 30 May 2017, for the year ending 31 December 2016, MGR paid back to Amedeo, in February 2016, a loan of £1,200,000 US$1,664,000). Loans receivable stated as US$1,400,000.Note 11
uring the year, the Group made a USD loan to an associate, MGR, of US$1,000,000 (2015: US$400,000), and received repayment of a GBP loan of GBGBP1,200,000 from MGR, which translated to US$1,664,000 at the date of repayment. This loan is expected to be repaid within a year with no interest charged.Post year end. Amedeo made available to MGR a loan facility of US$800,000 (as stated above in the RNS 11 January 2017). In the Interims, dated 26 September 2017, for the six months ending 30 June 2017, the Financial review states that loans were £1,800,000. This is confirmed by Loans receivable stated as US$2,200,000 (excludes other receivables).So in summary then, MGR owe us US$2,200,000 made up of the US$1,000,000 loan (payable within one year, as stated in the Finals), plus the loans for US$800,000 and US$400,000.Do you agree izzy bear/BOWOOD?Thoughts appreciated. Given our market cap, we are ridiculously undervalued. A re rate is coming very soon.Phil
izzy bear
23 Oct 2017
Re: News It was up 11% when the market opened, 20 minutes later it was down around 8% - 10%, I suppose the upside was I could top up at a price lower than Friday.Come the end of the day I can see this finishing on the plus side, but not duly concerned at the moment as I intent to hold on my Investment long term.
BOWOOD
23 Oct 2017
Re: News Small sale - reaction a bit harsh
izzy bear
23 Oct 2017
Re: News Looking at some past data regarding Major Share holders. I see at the end of last year there were 4 major holders who own more than 3% of the company shares.Qatar Investment corp......69 %Mena Global Inv.................9,20%Global Tech........................5.25%Dune Engineering..............5.20%Or 89% of the 33 million shares in issue, which leaves around 11% for the BOD and small investors, as in us,Looking at those figures it would only take one piece of good news to create demand and push the price up, Should the Rig alone be delivered and paid for within the next 4 weeks, I see no reason for the shares not to climb to 40p and possibly beyond before the end of the year.Looking back at the results and the drop they caused, that was short lived, and the shares have now recovered all the loses and more.Trying to find a down side for Amed, but the reality there isn't one, unless the cheque for the Rig bounces, the $800k Loan is not repaid, or the Copper investment fails, which are all unlikely.I like others feel its going to be a very exciting few months.
BOWOOD
22 Oct 2017
News Any thoughts for the week ahead? Any news? Will the sencible investors, the buyers have the edge on the sellers?
BOWOOD
21 Oct 2017
Re: Interesting new JV Yes Izzy I also feel very comfortable here, as you say there are liquid assets and investments and no debt which together effectively account for the low MC of less than £5m at 15p without putting any value whatsoever on the yard and the rig. In other words you could forget all about the rig/yard and there would still be a fantastic business with good earning and growth potential. But of course there is value in the rig and if this has a value of £15m it would equate to another 45p a share. We are massively undervalued and with little risk and I will look to add a few more. Well before the end of the year I feel we will get an RNS that will result in a rerate and a new level to move forward from. I think the region AMED operates in can open up tremendous growth opportunities.Good to read your thoughts as well Izzy
izzy bear
20 Oct 2017
Re: Interesting new JV I'm looking at the bigger picture, Cash in the bank, the $800,000 loan and interest payable, the copper mine investment, the Rig and shipyard, and less than 33 Million shares, all give Amed a solid base to expand and raise capital if needed.There is no doubt in my mind that the MM's will have to push the price up, as more investors come on board, and those already invested are reluctant to sell, that being the case, once the cash for the rig is in I can see a share price of around 40p - 50 within the next 3 months.May I just say, it's good to have investors like BOWOOD and Oh wise one making interesting comments, Good luck
BOWOOD
20 Oct 2017
Re: Interesting new JV Perhaps there will be an RNS shortly. There is very strong interest and investors may be beginning to see the potential - still a buy up to 20p and probably higher.
Oh Wise One
20 Oct 2017
Re: Interesting new JV We have buyers and the mm's will not give stock away cheaply. Let's see if things are about to move quickly, if supported by further decent buys. Could be an interesting afternoon.
Oh Wise One
20 Oct 2017
Re: Interesting new JV Yes given the location of the yard, I am expecting big interest in the yard. However, Yangzijiang needed the JV because they wanted to diversify into the rig market, where our expertise and contacts come into play.As the big players get bigger, the smaller non profit making yards will close. This will aid the scrapping of rigs and force up the prices of new, high spec rigs, just like our Explorer-1.Mr Lau is right in saying it can be used as a showcase to other customers. What we want now, is not a single new order, but a multiple one over a number of years. That is why I highlighted the other JV yesterday.For now though, let us wait for the long awaited RNS. I suspect the delay may not be client finance, but the rigs employment. However, do not rule out a huge player stepping in and buying the rig outright. As for the future, what is the possibility of Qatar Investment Corp, providing additional funding in order to make Amedeo a much, much bigger investment vehicle?Maybe our GKC investment is simply a prelude to what may follow?
