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Aveng (AEG)...free lunch?!

Aveng AEG small cap construction

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#41 Blackobar

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Posted 23 October 2020 - 02:52 PM

You will for sure be able to afford Mink coats, so I will take mine in it's natural color if you don't mind :)


:) I hear you loud and clear MINK. :)
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#42 MINK

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Posted 23 October 2020 - 02:44 PM

I hate share consolidations, there is a small percentage of companies whose share prices do well after a consolidation. I'd prefer a large scale buyback at these prices, take out a 15+B @2/3cents and leave the 2b.

About Moolmans, I thought I was the dumb one who couldn't find any news about them, I just can't find anything about that company.

If aveng pops up and management gets its house in order,I may afford a Mink coat too. haha

 

You will for sure be able to afford Mink coats, so I will take mine in it's natural color if you don't mind :)  


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#43 Blackobar

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Posted 23 October 2020 - 01:06 PM

The way they are quiet now about the buy back is very worrying, unless they are waiting for the Net Income to swing into the positive as that is the only logical reason they can have. My worst fear is a stock consolidation and then that consolidated stock also looses value :unsure:.

I would definitely pose that question if I could attend their AGM, hopefully someone can do it on behalf of us. It is somewhat of a concern that majority of their income is now from Mcconnell. It would be sad to see a veteran company like Aveng delist from the JSE and list on ASX, so I hope you are right.

Looking for information on Moolmans is like looking for a black cat in a dark room. What is a bit comforting is how the post new vacancies so I guess they are making progress behind the scenes.


I hate share consolidations, there is a small percentage of companies whose share prices do well after a consolidation. I'd prefer a large scale buyback at these prices, take out a 15+B @2/3cents and leave the 2b.

About Moolmans, I thought I was the dumb one who couldn't find any news about them, I just can't find anything about that company.

If aveng pops up and management gets its house in order,I may afford a Mink coat too. haha
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#44 MINK

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Posted 23 October 2020 - 12:34 PM

Hey MINK, I understand the shares issued differences between M&R and Aveng. On the last agm a share buyback resolution was passed, which is what a lot of shareholders expected would have been done by now, at these super low levels, but there hasn't been any news from management.

I don't see a delisting in sight, but man, with a secretive management like aveng's you never know.

I'm hoping for the best though, McConnell Dowell's an exceptional business down under.

 

 

The way they are quiet now about the buy back is very worrying, unless they are waiting for the Net Income to swing into the positive as that is the only logical reason they can have. My worst fear is a stock consolidation and then that consolidated stock also looses value :unsure:.

 

I would definitely pose that question if I could attend their AGM, hopefully someone can do it on behalf of us. It is somewhat of a concern that majority of their income is now from Mcconnell. It would be sad to see a veteran company like Aveng delist from the JSE and list on ASX, so I hope you are right.

 

Looking for information on Moolmans is like looking for a black cat in a dark room. What is a bit comforting is how the post new vacancies so I guess they are making progress behind the scenes.


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#45 Blackobar

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Posted 23 October 2020 - 11:42 AM

1.) M&R have 444 million issued shares while Aveng have 19 Billion, mainly because of the convertible bond. 2) The market have a memory so the fund managers that bought at around R1 got burned so badly that they refuse to touch it until they are in the positive. 3) I see on information platforms like BD live, all the big guns still refer to Aveng as a construction company in S.A. while they are actually a mining company in S.A. (Moolmans) and a construction company in Australasia (Mcconnell). The upside is that it enable us to buy more shares. If they swing into positive and confirm the share buy back, the share will be unstoppable. What I am worried about is a delisting... hopefully that will not happen.


Hey MINK, I understand the shares issued differences between M&R and Aveng. On the last agm a share buyback resolution was passed, which is what a lot of shareholders expected would have been done by now, at these super low levels, but there hasn't been any news from management.

I don't see a delisting in sight, but man, with a secretive management like aveng's you never know.

I'm hoping for the best though, McConnell Dowell's an exceptional business down under.
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#46 MINK

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Posted 23 October 2020 - 08:41 AM

The markets celebrating M&R R18bn contract, but that's almost the same amount as the contracts McConnell Dowell's been getting, to no fanfare. Can't blame the markets, Management's sleeping on the wheel here.

 

1.) M&R have 444 million issued shares while Aveng have 19 Billion, mainly because of the convertible bond. 2) The market have a memory so the fund managers that bought at around R1 got burned so badly that they refuse to touch it until they are in the positive. 3) I see on information platforms like BD live, all the big guns still refer to Aveng as a construction company in S.A. while they are actually a mining company in S.A. (Moolmans) and a construction company in Australasia (Mcconnell). The upside is that it enable us to buy more shares. If they swing into positive and confirm the share buy back, the share will be unstoppable. What I am worried about is a delisting... hopefully that will not happen.


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#47 MINK

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Posted 23 October 2020 - 08:23 AM

From multiple sources (BD Live and Standard Bank) it is the "unconfirmed" date of the 26th. So far Sharenet calendar have been extremely accurate and there's nothing about Aveng on it. Fortunately they can only kick the can down the road up until end of November. 


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#48 AMG76

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Posted 22 October 2020 - 10:45 AM

Hi All
Account finally approved.
Does anyone know yet when the FY 2020 will be released. Have seen a date of 26 October, but can't get that confirmed.

Have also been trying to buy more at 2c, but not able to anymore at that level.
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#49 Blackobar

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Posted 16 October 2020 - 10:11 PM

The markets celebrating M&R R18bn contract, but that's almost the same amount as the contracts McConnell Dowell's been getting, to no fanfare. Can't blame the markets, Management's sleeping on the wheel here.
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#50 SB45

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Posted 16 October 2020 - 08:33 PM

Aveng is missing out on the recent run that some of its competitors are having i -eg  M&R and SSK. I think the 1,5 bn shares (8% of issued shares)  on the sales side at 3  and 4 cents are part of the reason - It seems to be one or two shareholders trying to offload but when there are seldom more than 10 million shares traded in a day , it is going to take 9 months to sell- so unless something significant (either the seller withdraws or an AEG  buyback?) happens we are stuck with the price at 3 cents for months. Am I missing something? 

These s***t heads can't hold the clock back the November will come....all will come out. I gave them a call last month and they said mid October results will be out and there was supposed to be sens detailing when the results will be out.


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#51 Tonyh199

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Posted 16 October 2020 - 02:37 PM

The +1bln sell side has always been the case. I gave Aveng a call  2weeks ago to the enquire about the open ended SENS on the results. I was then told that they would issue another SENS will be issued with specific dates, here we are nothing. The indication was 2nd week of October, but I doubt. They will take the full 2 months of extension judging by their behaviour.

Aveng is missing out on the recent run that some of its competitors are having i -eg  M&R and SSK. I think the 1,5 bn shares (8% of issued shares)  on the sales side at 3  and 4 cents are part of the reason - It seems to be one or two shareholders trying to offload but when there are seldom more than 10 million shares traded in a day , it is going to take 9 months to sell- so unless something significant (either the seller withdraws or an AEG  buyback?) happens we are stuck with the price at 3 cents for months. Am I missing something? 


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#52 Sleepwa123

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Posted 16 October 2020 - 01:36 PM

No worries. also took some effort to find. But I was keen to know as well as I have been wondering the same thing.


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#53 Leadingedge

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Posted 16 October 2020 - 12:55 PM

Thanks Sleepwa, I was looking for that document... need to put my glasses on next time.


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#54 Sleepwa123

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Posted 16 October 2020 - 11:53 AM

As I understand it they have until the end of November. Have a look at the table at the end of page 1.

 

https://www.jse.co.z...mpliance wi.pdf

 


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#55 Leadingedge

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Posted 16 October 2020 - 10:37 AM

I can't see that there has been any update on the release date of their financials, as they said there would be. Surely time is running out?


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#56 Milo

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Posted 22 September 2020 - 01:03 PM

Were they not also awarded $40 million in claims in Australia?

 

Yes as per below

 

https://www.moneyweb...acts-this-year/


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#57 skeez

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Posted 21 September 2020 - 09:39 PM

Were they not also awarded $40 million in claims in Australia?
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#58 SB45

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Posted 21 September 2020 - 09:15 PM

Good Article on the analysis, however, a mere consolidation for me would not be enough, they would be putting nothing on the table. First they need to buyback shares as authorised and as compensation to the shareholders, second they will prove with company cash that they believe that the company is undervalued vs the work they are doing and the NAV they are quoting in their financials. 

 

Strange that also none of the insiders have made share purchases at these levels, to me this says lack of confidence in their turnaround strategy, therefore no personal cash to risk because they are not convinced it will work.

 

It seems they have R56mln on the way, good outcome for them on the ESKOM claims. Legal costs covered so good result. 

 

https://www.dailymav...jan-oberholzer/


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#59 Milo

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Posted 21 September 2020 - 01:38 PM

https://www.iol.co.z...31-28cc876c448d

 


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#60 skeez

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Posted 21 September 2020 - 10:27 AM

Like all the loss making companies we've seen report recently, Aveng is packaging all the bad news that were and weren't caused by the pandemic and firmly placing them under the "Covid-19 excuse"
They call it Throwing out the kitchen sink.

This is were you know the auditing proffession in this country is akin to government institutions. Corrupt to the core. How can this be possible?
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