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You haven't seen this morning's announcement of 650k sales in January?
Mik
I don't buy that.
- sales and profits have gone up every year for four years
- that includes an actual LC last year from Mali, an African country
- AMMX is an approved agent for Terex and supplier to the US government.
- Lee remains the largest shareholder, whose aim is surely a sustained rise in share price.
Honest mistakes Yes; scams No.
Just my humble opinion!
MM: if the stock is being held down on purpose, Lee is the one who suffers the most: he is by far the largest shareholder and approaching retirement. I think 2016 is the make or break year for him, and he has a lot of promising projects on the boil.
Just need to raise a little cash, sell a small percentage of my holding, but not at .007 as it is now. The company will be coming out with a series of good PRs over the next few months so I remain a strong holder.
ORCA: I believe that not long ago you said you would buy any number of shares offered at .0085. Does that offer still stand?
Boone: yes, .015 is about right on current results alone. Not sure why price has collapsed.
Hang in there Born. I have a good feeling about 2016.
Smitter: tks for yr PM.
IMF paper December 2015 shows Niger in a positive light:
http://www.imf.org/external/pubs/ft/wp/2015/wp15268.pdf
All the best for 2016, it's going to be a good year.
Good, thanks!
MM I agree with you, and am a long-term holder myself, in expectation of a doubling of the SP (at least) during 2016.
In reference to all the Niger skeptics, I would say that the Lee who is delivering on core business and has successfully made shipments to Mali is the same Lee who has been diligently working on the Niger deal for two years+. I therefore still believe it may happen.
Re SEC, yes, but it's only last month that they finally got their yield sign removed, so they are moving in the right direction.
I first bought in 6 yrs ago and believe in possibility of big contracts coming off in due course, am very patient. Management is energetic and I believe honest. Big problem however is management making repeated over optimistic predictions and failing to deliver. Absent that confidence problem SP should be at around .018 on current business without any weight given to possibility of Niger contract and other African prospects.
Thanks Born, our different methods get us nearly to the same place. I remain very optimistic.
A conservative SP at the moment would be .018, thus:
Net profit 2014: $0.8m x 15 (reasonable P/E) = $12m.
$12m/ $666m = .018
This is without any consideration of future growth, foreign contracts etc.
Or walk the plank.
The way you all talk the stock down, no wonder it's at .008.
ORCA: good point, but time frame may be shorter than you think, as Lee approaches retirement.
I really liked Lee's latest idea: buy up used American equipment in slowing-down China and ship to speeding-up West Africa. He knows how to refurbish that stuff, could create a great long-term revenue stream.
Thanks Mike.
I made typo: shd be Aug 25 not Aug 20.
- Did any business result from August 20th visit to Chico by Jean-Noel Makaye, Lee's partner in Republic of Congo?
- Balance sheet shows c.$1m increase in long-term liabilities. What's that?
- Can Lee confirm that no further dilution is planned e.g. by issuing shares instead of paying cash?
Best if they can announce yield removal and a good new piece of business in one combination PR. That would really get the SP going. Lee said he expected $5-8m in Q4. It's time to give us the details of that. Maybe just before the CC on 11/20? That would be an early Christmas for us all!
Looks like yield sign removed. Check out attorney letter on OTCIQ.com.
Alien: thanks for the PM
AMMX P/E ratio today is around 7. This for a company whose net profit has grown by 75% pa since 2011. Severely undervalued on core business alone.
PC: I've visited Lee and staff at the AMMX site in Chico, I expect you have too if you are a substantial shareholder. I got a very favorable impression of their operation, which I still have, despite missed deadlines etc. Obviously this investment is not for the timid, but I don't think it's very risky either at these levels, and the chance of big profits is still there.
Pharma: OK, thanks.
So you trash the stock one day and buy it the next. Hmmm.
The timing indicates 3q results, probably not great. We hope for better news to counteract, e.g. yield lifted, increased Mali orders received, and of course real progress in Niger.
This contract is for $360 million. Niger's total GDP is 8 billion. It's natural that their government is involved at every stage.
Private: click on the link, award ID, view. Base and all options value is shown there.
Thanks Alien for that excellent piece of DD. I note that AMMX is classed as "Veteran Owned."
Ref IR: agreed.
2016 will be a banner year for the company, with following prospects:
1. U.S. Army, developing business with huge potential.
2. Lifting of yield sign, should be before end of 2015. Should make shares attractive to more conservative investors. AMMX is undervalued at the moment, and will shortly be much more so.
3. Niger truck business, finally getting close. $72m sales each year for five years. More could follow.
4. Mali client, potential for 60 machine follow-up order worth $7.5m
5. Nigeria: Chevron large crane deal expected. Promising contact Dr Jester in Nigeria, which is Africa's biggest economy.
6. Republic of Congo: Lee's partner Jean-Noel Makaya said to have visited Chico in August 2015. Good prospects but nothing specific yet.
7. Niger military project: longer term, after truck deal concluded.
8. Senegal: some chances for further refurbished construction equipment business, but has gone cold.
It has been a long wait, 6 years in my case, but patience will be amply rewarded.
A while ago, though I can't remember the date, Lee was asked at a CC whether the Niger business was on an agency-only basis. He said no, the truck purchases and sales would go through AMMX's books.
ORCA: yes you're right about that. Note that they didn't report FY 2014 until April 13, 2015.
However, if they succeed in making the first Niger shipment before then, the share price will surge immediately.
This is the strongest PR we have seen for a long time. If I were not already fully invested in the company I would buy more. The current P/E ratio of 9.8 is very low for a company whose net earnings have improved every year for the past six years, and has excellent prospects for accelerating growth.
Finally some movement in the SP, fully justified by today's PR.