4099 days ago
I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a tip from TradingResearch Point on Afferro.
Shares in AIM and TSX listed African mine developer Afferro Mining (AFF) fell by 5p at 74.5p today on news that one potential bidder for the company is now out of the running. The market never likes such news but it overlooks the fact that there are still a number of corporate discussions still ongoing but, perhaps more importantly, that the shares are fundamentally cheap. I view this as a buying opportunity
4135 days ago
I spent two years working along Sam Bottell as he worked with minesite and oilbarrel and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from him from TradingResearch Point…
AIM listed Afferro Mining (AFF) is a West African focused iron ore play. With a solid net cash position and an attractive portfolio of assets one can make a solid case for buying the shares on fundamentals, a case strengthened by the recent recovery in the iron price. But there is also a corporate angle with the company admitting just before Christmas that it can “confirm that it is in discussions with multiple parties which may or may not lead to a strategic investment or a proposal to acquire the outstanding shares of the Company.” Not surprisingly the shares have rallied from a year low of around 40p in the second quarter to a share price today of 101.25p today, valuing it at £106 million. But arguably there is more to come.
