AGM - Allegiance Mining

[Sultan of Swing]

I see FMG hit $50 today, they were 50 cents 3 yeaers ago. What are the chances of AGM hitting $50 in three years time?

I can only hope I spose.....

No idea why the trading halt but I hope its good news.

 

[hoppielimp]

Yes would be nice for AGM to hit $50...

Unfort don't think that will happen in the near future (or any future), because AGM are capped with the mill capacity and its a looong leadtime to get another one up and running, let alone the amount of product they would need to process to achieve that sort of share price....

nice to dream though

 

[doogie_goes_off]

Does anyone think that capital raising/placement at this price is bad for the company?they now have another 30 mill in the bank which should help speed up production.

 

[shag]

Does anyone think that capital raising/placement at this price is bad for the company?they now have another 30 mill in the bank which should help speed up production.

mr market certainly took a dim view of it anyway, hopefully short term
why not offer us a go at reduced price...

 

[Sultan of Swing]

Doesn't this dilute the value of the shares we already hold? The mine is only worth so much, and then to have another 42 million shares to share it around....... or am I barking up the wrong tree with that line of thinking?

Then again, I spose we have another $30 million cash ......

 

[nioka]

mr market certainly took a dim view of it anyway, hopefully short term
why not offer us a go at reduced price...

Every time a company issues shares to an institution at a reduced price to the market and do not give the same offer to existing shareholders I get annoyed and I let the company know it. I suggest you do the same and send them an Email to that end.
However I'm not surprised they had another issue as they did say recently they would need more capital. We can only hope they are putting it to good use and that they are getting close to production.

 

[shag]

Every time a company issues shares to an institution at a reduced price to the market and do not give the same offer to existing shareholders I get annoyed and I let the company know it. I suggest you do the same and send them an Email to that end.
However I'm not surprised they had another issue as they did say recently they would need more capital. We can only hope they are putting it to good use and that they are getting close to production.

yes too true, on both accounts. should complain, act, not talk. its the worst part of share market, feathering yr own nest and then insider trading.
cheers shag.

 

[nioka]

Jinchuan has exercised it's right to convert the subordinated loan into shares at 80c per share. The group now holds a 10.4% equity holding in AGM. This is a premium of 9.5c per share on the current AGM price. Shows confidence as we get closer to production.

 

[doogie_goes_off]

I'm a little confused have AGM just raised another $32M at 80c in placements? Or is this an earlier transaction being formalised?

 

[nioka]

I'm a little confused have AGM just raised another $32M at 80c in placements? Or is this an earlier transaction being formalised?

I looked at it as the formal announcement of the one which was announced as a company announcement. That announcement said that it would complete the financing.

 

[nioka]

I'm a little confused have AGM just raised another $32M at 80c in placements? Or is this an earlier transaction being formalised?

I e-mailed AGM asking for clarification but they did not answer. Poor shareholder relations. Checking them out for a broker recomendation today I find one broker with a strong sell and one with a strong buy. One must be wrong, which one?. Maybe one gets their mail answered and the other doesn't.
It is time the company came out with an update on progress.

 

[jet328]

Third quarterly should be out in the next week or two, so fingers crossed everything is moving along nicely(hard to judge by the pics on their website).

Cheers

 

[shag]

Third quarterly should be out in the next week or two, so fingers crossed everything is moving along nicely(hard to judge by the pics on their website).

Cheers

by the way the sp is dropping with nickel looking on the march in the 30's, i suspect the report may already be out to a select few.
hope not, but can u imagine how hard it is keeping talk off a big site anywhere let alone tassie etc.

hopefully just a few margin loaners running for cover tho.
cheers

 

[Sean K]

Watching this for the next move. Looks to be more likely to be up on this chart, but reliant on commod prices of course which have been flying. New Geothermal license might add some interest.

 

[nioka]

It is interesting to note that today's announcement regarding the geothermal energy licence has on the bottom of the page "Nothing but nickel". Have they found hot rock with their nickel prospect drilling or is that an omen and they won't find hot rocks. I'm still waiting for this one to come good, have about 30% of my portfolio tied up with it now having bought more yesterday. Production must be getting close to start up. We could do with an update from the company.

 

[shag]

It is interesting to note that today's announcement regarding the geothermal energy licence has on the bottom of the page "Nothing but nickel". Have they found hot rock with their nickel prospect drilling or is that an omen and they won't find hot rocks. I'm still waiting for this one to come good, have about 30% of my portfolio tied up with it now having bought more yesterday. Production must be getting close to start up. We could do with an update from the company.

there was a sort of update on commsec link, where md said all aim and focus was for 1st quarter next year start up. mainly went on about link with chinese partners and likely future links on new ventures for agm.
i'm also waiting for it to come right, but at least my other dog-paladin has come out of the kennel.
thanks for graph kennas too.

 

[eMark]

but at least my other dog-paladin has come out of the kennel.

Amen to that!

See my recent Paladin post to explain my positive overtones in this post.

Cheers

eMark

 

[michael_selway]

there was a sort of update on commsec link, where md said all aim and focus was for 1st quarter next year start up. mainly went on about link with chinese partners and likely future links on new ventures for agm.
i'm also waiting for it to come right, but at least my other dog-paladin has come out of the kennel.
thanks for graph kennas too.

Hi PDN was a dog?

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS -0.2 -0.4 8.0 10.4
DPS 0.0 0.0 0.6 2.1

thx

MS

 

[nioka]

The presentation to the China Mining Conference by AGM released on today's company announcements shows the plant construction well advanced. They announce production to commrnce EARLY first quatrer2008. Previously quoted as just early 2008. The presentation is well worth looking at. Maybe someone could post the link, I couldn't work out how to show it. This should be good for the SP and I can see good gains ahead.

 

[nioka]

I'm surprised AGM has gone for a month without a post. A long way from the regular postings from Chicken and Ghosta. What happened to them?. AGM continues progress towards production commencing first quarter 08. I would expect the SP to have a gradual increase from here on in.I have made them my major holding now. Providing any major setbacks are not encounted those holding throughout the construction period should be well rewarded. DYOR.