Share Dealing Discussion Area

tonydee

Afferro Mining nearing a double bottom and has to be a a screaming buy at circa 40p level. Recent note suggests 275p target.

sabretoothtigger

Not heard of them, looking at the chart I think it would be safer to buy on a stairstep upwards rather then trying to catch the bottom exactly


I think this one is cheaper vs risk on a fundamental basis. I think chartwise they are level with last August which seems unduly negative for a successful company below 10 PE

http://www.morningstar.co.uk/uk/news/articles/106397/BG-Group-a-5-Star-Stock-After-Share-Price-Weakness.aspx

tonydee

Take a serious look at them (no advice intended). Fully funded for 2 years, massive supply of quality graded iron ore and currently trading at less than cash.

AFF is the ticker.

p.s Link didn't work for me?

sabretoothtigger

Sounds like a competitor to FXPO. They put an advert on the link probably which needs to be skipped, its a review of BG

tonydee

Dual listed as you've found out so straight in the ISA and no capital gains tax. Here's what RBC have said:

RBC Capital raises Afferro Mining target to 275p after Nkout PEA
4:02 am by Sergei Balashov

RBC Capital Markets cheered the preliminary assessment report for Afferro Mining’s (AFF) Nkout iron ore project in Cameroon, lifting the company’s target price to 275 pence from 220 pence previously.
The PEA, which was released on Monday, estimated a post-tax net present value in a range between US$1 billion and US$4.6 billion, assuming production of between 15-35 million tonnes annually (mpta) and funding costs of between US$2.5 billion and US$3.9 billion.
Afferro added it had already received “significant” interest from potential partners to fund the project with talks ongoing.
According to RBC analyst Patrick Morton, the PEA confirmed that Nkout is a large scale project.
Morton’s new target represents a massive premium of over 500 percent to Thursday’s closing price of 41.75 pence, which values the group at around £44 million.
The pre-financing net present value (NPV) of Nkout was estimated at 1,398 pence per share.
The analyst arrived at the price target after applying a heavily discounted multiple of 0.2, well below the 0.5-1 average used for other emerging iron ore companies to reflect the "significant financing and development risk".
“If the company can attract a partner to help finance and develop Nkout on attractive terms, we see significant upside to the target multiple and share price,” said Morton.
The analyst also noted that the government has confirmed plans to allow multi-user access to the rail and port infrastructure being developed for Sundance Resources' world-class Mbalam project not far from Nkout.
This, he said, means that the infrastructure solution is not as risky as the market assumes, adding that with US$55 million in cash it is fully funded for the next two years of operations.
The upcoming potential catalysts for the share price are the release of an updated resource, project partnering and the completion of the pre-feasibility study.

AFF top of their list for potential percenatge gains too:

http://www.igindex.co.uk/content/files/ukratings_1june_igi.pdf

TDM850

There's a good article on Dual Listed ISA stocks here. This was featured in the Mail recently too - great way to get a 10 bagger into a tax free wrapper!

john0

what does a dual listed aim stock mean? apologies if a stupid question but i am rather stupid at the minute regarding S+S ISAs but starting to look in to it.

Biggles

john0 wrote: »

what does a dual listed aim stock mean? apologies if a stupid question but i am rather stupid at the minute regarding S+S ISAs but starting to look in to it.

Listed on AIM in this country but listed on a Main Stock Market elsewhere in the world, thus is eligible for an ISA.

sabretoothtigger

Dual list just means you can probably take higher risks then normally the ISA allows.
It doesnt mean you get higher profits, CAZA for example fell from 50 to 6p. Could be it goes right back up but alot of these companies rely on issuing shares to raise capital so a bad appearance can do damage

I'll take a look at BEM and HER this weekend as they are lower then when I previously sold but not for reason beyond general fears. HER relys on silver price I guess.

Not sure I will get round to AFF yet though I'll try to check back when its above the 200 DMA

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duanghong

Does anyone know the cheapest online or telephone broker to buy US shares,