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Dr B
Thanks for the great photo and the well-researched information.
I believe that the creation/updating of African infrastructure will be one of the biggest economic stories of the 21st century, and with a bit of luck we AMMX shareholders will be able to say that we played our part, while incidentally making some personal profit out of it !
Sometimes delays can be caused by lawyers being cautious about contracts in foreign languages and maybe in foreign jurisdictions.
If Lee isn't staying at the Grand Hotel du Niger in Niamey at the moment, he isn't doing his job properly.
They have in the past been over-optimistic in their PR statements, especially about timing; but this project seems more firmly-grounded than previous big projects they have tried for. Even if it falls through, which I still believe to be unlikely, they have other projects in the pipeline, and can apply lessons learned in this one, especially in the field of international finance.
Yes, in the absence of news it isn't surprising that the SP is drifting down. Tempting to buy some more.
Just so that JD doesn't have the last word!
I agree but hope the PR is soon.
OK thanks. I do appreciate this board because it reinforces my own long-held belief in the ultimate success of AMMX.
What matters is whether or not they get the Niger deal. Technical analysis based on the current very low dollar activity is irrelevant.
I'm afraid it's likely that AMMX knows more about trucks than international finance.
I also feel that not very much of the Niger deal is reflected in the current SP, since investors have been waiting for its conclusion for such a long time: it was more than a year ago (May 17, 2013) that Lee said "We are currently awaiting final notification of funding approval for one of the projects located in Niger. This project is large enough to get everything in Africa kicked off. Once complete, funding for other projects will be much easier." More than a year later, we are still holding our collective breath.
I remain optimistic however, and believe that when the Niger deal is finally confirmed the SP will start a major advance, based on the deal itself and on AMMX finally gaining the market credibility it needs to win more big contracts.
I believe it was for the export of coffee from Ivory Coast, but am relying on my notes of the CC, not detailed enough!
Another possibility given sufficient working capital is the commodities/coffee business, also in Africa. At the conference call 2/14/2014 Lee said he would need $3.5m capital a month to proceed with that.
Honestly Jeff, why don't you move on. AMMX is obviously not for you. You will be much happier if you focus on a stock that you believe in.
Jeff: if there's nothing to get excited about in AMMX, why do you spend so much of your time on it?
I am retired, and confident that my investment in AMMX, accumulated over four years, will eventually provide me with a very nice pension.
The $ volume is too small to be significant.
This is old news. Look back through the PRs on the company''s website.
As far as I recall they said some time ago that the ultimate financial backing would be from New York, so this isn't necessarily bad news. Fingers crossed until we get some more information. The key may be Niger's country risk status, with a lot of troubles on its borders.
Thank you - the voice of reason!
Their credibility would improve with more precise PR. E.g "the agreement with Niger's Minister of Transportation has been signed" begs the question "By Whom?"
Better to say "The contract...has been signed by AMMX's CEO and by Niger's Minister of Transportation, etc", then we would know where we actually stand rather than having to guess and hope.
Investor 229, this Niger deal is by far the most promising of them all, but still not 100 percent. If it works out, I think the company' s potential is huge.
I've been following AMMX for 4years and on the big African projects the pattern has been optimism followed by disappointment. This one seems much firmer but the financial arrangements are beginning to sound less definite than their previous PRs implied. I remain hopeful and fully invested.
Jeff - wow! A couple of weeks ago you projected 2 cents post announcement, now you concede it could be 6 cents. Have you become an optimist?
Funny, that's my target too!
They have not yet demonstrated the ability to land a really big contract. If they succeed with this one, the new cash resources and credibility will enable them to grow into a larger-scale company.
Mostly good news, but I'm surprised that they hadn't identified the government bank until recently, a key element of the deal.
AMMX at 4 cents. Your comments seem to have no grounding in the real world.
For companies like Manitowoc and Caterpillar, annual turnover: market capitalization is about 1:1
Applying this to Ameramex would imply conservatively about 12cents a share assuming Niger business at $70m p.a and normal business at 12m p.a, total 82m divided by 660m = 12 cents. However this takes no account of future business prospects. If this Niger contract is successful, Ameramex might be perceived as a company with the potential for strong future growth, in which case the multiples could be much higher.
If they make good net profits on the Niger business they should use that new working capital to grow the business, not for buybacks or dividends.
I see that you have made 652 posts on Ameramex. Is that a record?
Until we know the result of the Niger deal there really isn't anything to talk about. Just wait with fingers crossed. Daily price fluctuations on very small volume don't matter at all.
All depends on decision of banks re Niger contract, said to be due before the end of June. I'm optimistic because it would be surprising if the contract contained anything that had not already been discussed with the banks. Investors with a less sanguine view will presumably be selling their stocks in anticipation of a bad announcement. At this point I don't think charts or technical analysis are relevant, as trading in AMMX stocks is very thin, and far from being a perfect market.
Is that 2-3 weeks from today, or from the signing of the contract by the Niger Minister of Transportation?
The market in AMMX shares is so thin, and the dollar volume so small, that nothing much can be read into the daily trading. All that matters at the moment is that the Niger deal be brought home, an event which should propel the company into a new growth phase. From what the company has told us so far, the deal looks very likely to succeed. Waiting for a lower price before buying more shares risks missing out on a great opportunity.
May I introduce myself? I have been following your discussions with interest. I first started investing in AMMX four years ago and have continued to buy more ever since. There have been plenty of disappointments, with several expected contracts not materializing, and last month's unexpected share dilution, but I have kept the faith. If the Niger contract succeeds, management's credibility will be reestablished,and should pave the way for further large contracts. With patience, I think there could be enormous returns for long-term investors.