izzy bear
27 Sep 2017
Re: RNS - I disagree I for one hope you are a "Wise old owl" and shows us the benefits to come.As you so rightly say, the Rig is, or could be a showcase for future orders, which we all hope will materialise, if not then other work needs to be found for the Shipyard, with storage and refurbishments coming to mind, I feel a bit of panic selling yesterday will be turned round when investors look at the bigger picture,
Oh Wise One
27 Sep 2017
Re: RNS - I disagree The rig is an asset, not a liability, which depreciates annually in accordance with standard accounting rules. Remember also, it is not just about jv profitability. This was a single $170m order that Keppel (a huge player as we know) took over. We do not know what up front payment was made, or the total build cost. Future orders may be single or multiple in nature. Back in 2015, W.H Ireland were talking about future $150m orders attracting 15% profitability. It all depends on the type of order, spec, market conditions etc. Whilst the Explorer-1 client finance and rig employment is being arranged, management are able to showcase the rig to other clients. This is a high spec, deep water rig. Over the next decade or so, this type of rig is going to be needed more and more. Having given myself twenty hours to digest the Interims, I believe the lack of information with regard to the rig was because we are now close to finalising the sale. The change of emphasis in the wording, to the rig is being prepared for delivery, suggests finance and employment have been agreed. That would leave just the standard final checks, which are made by the client on delivery. This being the case, the vast majority of the balance would be paid by the client, ahead of delivery, with the final installment on delivery. Please correct, if people believe this not to be standard procedure.Going forward, consolidation will continue in the industry, something that greatly benefits our jv. Rig scrapping, oil price and day rates will all be key going forward.We are ideally positioned, both geographically and with a very strong partner, one that is developing a huge order book. Our management provide the right skillset and have the contacts to deliver that big multiple order.The risk/reward has never been better imo.howdlep (the not so wise one!)
izzy bear
27 Sep 2017
Re: RNS Could I be thinking the loss could be attributed to the rig build, and had it been sold prior to the results, then Amed would have shown a profit, in my books it's still an asset, but has to be counted as a loss till sold,That being the case, when sold it should give the shares a welcome boost, but what will be the profit on the eventual sale be, a million, or maybe two or three, In my opinion it has to cover any loss from the latest results.
BOWOOD
26 Sep 2017
Re: RNS I guess you are right and perhaps the more interesting investment is the progress of MGR. 49pc is not insignificant if it makes good money.
izzy bear
26 Sep 2017
Re: RNS So at last, the Rig is due for delivery ,well so they say, plus they still have plenty of cash in the bank, My thoughts are the same`, nothing to get excited about, what it needs is some more orders for the shipyard, at present they seem to be getting by with the interest from their loans, other than that just a bit of boring news,Still a hold at present, with the hope of better news ahead,
BOWOOD
26 Sep 2017
RNS Well,well - not very informative and I would have thought there could have been a more meaningful message.
BOWOOD
23 Sep 2017
Re: Interims Yes I agree the situation regarding the rig needs to be better qualified as far as a buyer is concerned. The other investment interests look as if they should be performing ok but until the investment in the rig/yard is sorted then further development of AMED will be restricted.
izzy bear
22 Sep 2017
Re: Interims Yes, interims must be due before the end of the month, and with them news of the rig, must be nearly a year since it's completion, hope it's sold before it starts going rusty, and sold for scrap,Fingers crossed the results are positive, so it gives the shares a welcome boost.
BOWOOD
15 Sep 2017
Interims Released 22 September last year so could be next week.
BOWOOD
13 Sep 2017
Re: Getting concerned MC £3.5M no debt, cash and investments excluding the rig more than equal to that. Importantly it trades in a growth region and has management with regional contacts. I feel that once cash is freed from the rig there will be a proactive move. Also remember that one major investor paid equal to £1 per share on the fund raise so there could be huge potential for the major investors here - but the rig disposal could be pivotal for the next investment. I think the market has just mopped up a seller or sellers and has provided a buying opportunity IMO
izzy bear
13 Sep 2017
Getting concerned Moving towards a year since the Rig was completed, and still no news of a sale or lease, so getting a wee concerned now, Should I sell and cut my losses, trouble is, one bit of positive news and the shares will bounce back, the question is , how much longer to hang on for,I can't make up my mind, well I suppose I should hang on a bit longer, and keep my fingers crossed/
BOWOOD
05 Sep 2017
Re: Iron ore Both Iron Ore and Copper seem to be climbing - must be good for the forthcoming interims.
BOWOOD
02 Sep 2017
Iron ore It's not just the copper mine it's the Iron Ore that will be helping MGR and AMED
izzy bear
31 Aug 2017
Re: Copper Totally agree BOWOOD, the M/C is a joke, the price or cost of the rig alone has to way above the M/C, then on top you have the £800k loan, the shipyard, plus as you say the 2.5 stake in the copper mine.So hard to figure out why the price is so low, will have to reconsider topping up at the present price as way under valued.
BOWOOD
31 Aug 2017
Re: Copper I am still a holder and possibly a buyer. A m/c of less than £4m does no justice even stripping out the rig.Copper and MGR well capable of producing results to more than justify the sp with the added interest of what happens when the proceeds come in from the rig.
