Still no news of the rig but interesting that the mc is equal to the cash and loans held on the Balance Sheet with the value of the rig in for nothing which is likely to be worth £Ms.
So still well undervalued despite no news from the company.
Cannot say I blame you issy as there appears to be a lack lustre effort from the company to keep the smaller shareholders in the picture. No doubt the larger holders are kept in the loop and there may well be something going on but they tend to ignor the small and loyal holders. Good luck and no doubt will catch up on another board.
Well Bowood, reluctantly I sold all my shares in Amed and took the loss, re investing the
proceeds in N4P , which has risen sharply over the past few weeks, and could be a multi, multi bagger, should there be some good news from Amed, then I will reconsider my options.
I feel what is crucial here is the complete disposal of the existing rig which will then free up cash for the JV. Then what to do? Sell the investment in the JV, take the cash and pursue other investments or stick with the yard. I am sure there are already plans known only to the BOD. Perhaps there is a major investment lined up or the coming together of AMED and another which needs the rig to be sorted. There are well heeled and influential investors at AMED and the listing with an MC of about £4m that is imo considerably undervalued. So with the position of the rig settled more investment will ensue and the sp should move substantially higher. Timing is the problem so one needs to add now.
if an acquisition is sealed, then I would expect QIC to maintain their 61% holding as they are invested @ 50p. All the top four shareholders, including Mena who bought in at 100p, are invested for the big ticket orders. I expect management to deliver in due course, but do not rule out a predator wanting to buy our yard. The pressure to complete scrubber re fits is going to be immense in 2018.
Time for pi's to buy/accumulate, as some have today.
Interesting to note also, that both LEG and AMED are up today. LEG own 192,307 shares in AMED. Any link I wonder re news pending?
Oh wise one, apologies for my post, I was being sarcastic with regards to the Rig, as it seems ages since it's completion, and months since we were told it was being prepared for delivery, and I just had visions of it sitting in a corner of the shipyard, alone and rotting,
Oh well bound to be news soon. and with it an abundance of happiness
Sorry BOWOOD, I don't call 44k shares a flurry of buying,
There has been no news releases since last September, a rig that is no doubt rusting in the shipyard, and if not sold soon will be broken up for scrap, no news on the copper investment , on how far it has progressed,
We know they have orders for two ships at the shipyard, and that the yard has been busy building containers, but nothing else.
As an investor, I feel that updates on progress of the company should be released at the very least every two months, or is that to much to ask,
I'm afraid so, been in PRS a few years now, and can't understand the pathetic share price, worth double todays price, but like Amed it just remains static,
I'll give it a few more months and if there is no progress I'll cut my loses and put the cash into Metal Tiger or N4p, trouble is PRS already has a holding in Metal Tiger, as well as Plutus and a number of other growth companies, so there is always the possibility PRS will come good one day, but like Amed it's not If, but when.
Not sure any of you guys took any notice, when I said take a look at N4 Pharma last month, when they were 10p, up to 15p this morning, with Viagra due to be sold over the counter this could be the share of 2018, so still worth a look.
Amedeo, well there seems to be a shortage of news, yes the price of Copper is rising, so that looks promising, and one of my other investments "Metal Tiger" also has investments in Copper, so that's looking promising.
With Amed, I just wish they would give us another update on what's happening with the Rig, ready in 2016, preparing it for delivery in 2017, and still, as far as we know, in the shipyard, I would imagine that's why there is a lack of interest in the shares, they may have cash in the bank, and good investments, but the company seems stagnant, I feel had the rig been delivered on completion, (in 2016) the share price would have been around the 20p - 25p share mark,
Certainly not a buy at present, but for those already invested a solid hold, well that's my opinion.
I am a little suprised that we have not had an update yet which could suggest that completion of the rig sale did not take place during the last financial year. Having said that AMED always appear reluctant to pump up the sp only announcing factual developments. With a small mc of £4m and well regarded investors there is still massive potential here and the lack of news puts it out of most PIs radar. Perhaps a Swan - grace on the surface for all to see but thrashing away under the water.
If form is consistent then we should see a pre close or rig update by the end of the year. The current share price continues to baffle me and is probably worth at least twice its price even without the rig being factored in.
I don't know if any of you guys took any notice, I suggested you take a look at N4Pharma a while back, (Up over 25%), as it really could be a multi bagger, only a small company that reformulates drugs, and has a few patents in the pipe line, including "Viagra" which is worth billions.
Really is worth a look, as like Amed, only just under 75 million shares, cash in the bank and a solid BOD,
Whilst it can be frustrating waiting for newsflow, our major shareholders are invested for the end game, which is why our company are looking for the big ticket items.
We have the yard and a huge JV partner. The sector is consolidating and the bigger players are going to get bigger. We are perfectly placed to be at the forefront of an industry that is developing its services, in order to meet new regulations.
As we await newsflow, I have been accumulating further and will continue to do so on weakness.
AMED seem to play their cards very close and do not go out of their way to pump the price of their shares. This does not mean that the Swans legs are not working hard under the water. The news will come and it will be good and will justify a share price substantially higher than current levels. The major shareholders and management have got their eye on the ball and have no need to put minor news items out. As you say Izzy only a few shares in issue, cash in the bank, quality copper investments and a substantial investment in the yard sharing this with a progressive regional partner. Perhaps not on the radar of many small investors at the moment but that will change. All in my opinion but I would rather add than reduce at anything below 30p
Last year we had an update on 21 December and I feel it would be reasonable to expect further news on the rig this year. Also much more has been happening with MGR and the copper mines that I feel sure the BOD would wish the market to know.
I find it rather odd, that there has been no news from Amed with regards to the new order, I was going to say will it benefit the company, but I'm starting to have doubts, but going back to the rig, and "The yards first order" gives me the impression the building of the rig was all Ameds work, when they were only a third party.
But I suppose as OWO stressed, it's a 19% indirect interest Amed has in the new order. even so. why the drop yesterday
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.
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