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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| African Min. | AMI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 10.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 10.00 | 10.00 |
| Top Posts |
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Posted at 08/4/2015 08:16 by cantrememberthis2 In gross terms:£7m total capital investment loss but at varying prices for individual investors 30-40% fee, so a minimum of £12m. Lets get this moving with Legals. |
Posted at 02/4/2015 21:37 by newswseller BW I think the point is Timis acted not in the best interests of the company causing SISG to pull funds, SISG then buy AMI out of admin for nowt. So point is SISG willing to fund but TIMIS/AMI board in their action had screwed investors.Remember timis magically pulled 50m from thin air to buy LOND, while he could have used that money to buy a small slice of AMI n we wouldn't b screwed, why should SISG fund AMI when it's founder wasted his cash on a diff company |
Posted at 01/3/2015 16:46 by kirk 6 Bronco that bull I'm afraid mate. The BOD have totally mislead investors and SISG are stating a breach ? For what I am aware that has not been circulated to investors. The 50m Timis payment is another red flag. If the company was run effectively they would have hedged spot iron. And had mechanisms in place to get through minor blips. This is a huge mine and has a fantastic future. |
Posted at 21/2/2015 13:15 by casual47 Have been trying to get the email for Roger Liddell. A stab in the dark but google search revealed he's director on three other companies so sent the email below trying the most obvious email format of roger.liddell@None of the emails bounced so they may have landed...or not. roger.liddell@sgda.c roger.liddell@shenst roger.liddell@netotc Hi Roger, I am a private investor in African Minerals. It is with increasing incredulity that I and many other private investors are witnessing the steady demise of this once great company. Now that only Nina and yourself are the only Independent Directors left on the board there is considerate concern among private investors that certain vested interests are given primacy above the interests of shareholders. In your role as African Minerals Senior Non-Executive Independent Director, can we be assured of your continued commitment to represent shareholders and safeguard shareholder value as per the codified duties (and liabilities) of directors contained in the Companies Act 2006 (UK)? Looking forward to your response, |
Posted at 16/2/2015 14:02 by casual47 Nina Shapiro -- the first two bounced. The NRSpartners.com one didn't.....yet.This is what I sent: Hi Nina, I am a private investor in African Minerals. It is with increasing incredulity that I and many other private investors are seeing the steady demise of this once great company. In your role as African Minerals Non-Executive Independent Director, can we be assured of your continued commitment to represent shareholders and safeguard shareholder value as per the codified duties (and liabilities) of directors contained in the Companies Act 2006 (UK)? Looking forward to your response, |
Posted at 11/2/2015 11:21 by cantrememberthis2 Email sent alreadyDear Board of Directors, Please do not think any Directors will be left unscathed by African Minerals. This has already been reported to the FCA, further United Kingdom Authorities will also be contacted. All Directors are more than likely covered by Professional Liability Insurance – there will be no rest by Private Investors from the pathetic announcement made by the AMI corporation. The Nominated Advisors of African Minerals are potentially liable for misleading Regulated News Service (RNS) releases from late Sep 14 – Nov 14. It is indeed the end of the line for us Private Investors but do not for a minute assume that this will be left as it is with many investors substantially at a loss. We all make investment decisions anticipating and accepting losses or gains. However there are certainly irregularities across the key months prior to and after suspension of this particular company. This was done under the watch of all the parties including SISG. All relevant authorities will be contacted with every single RNS signed off by the Jefferies NOMAD over the last few months submitted for investigative purposes. Compensation will be absolutely miniscule but that is not really the point. Liability is Liability pure and simple. All investors including Institutional Investors are royally shafted with no value left after this deliberate fiasco by the incompetent dimwit Board of Directors of African Minerals to secure its future and provide transparency throughout the last 3+ months. Happy to discuss. Kind Regards |
Posted at 03/2/2015 00:12 by casual47 If it was a simple as you make it appear it would have been in admin already.This is beyond economics 101. This is about influence and soft power leverage more than anything else (some, though of course not me, might even say corruption?). There is the political dimension, with Frank Timis and Gibril Bangura deeply entrenched in the body politic of Sierra Leone and beyond. Gibril has been touted as future president of SL. President Koroma possibly wouldn't have succeeded in his political ambitions if it hadn't been for Frank Timis. See also the "concurrence" message from GoSL: BEGIN QUOTE "Government as a strategic partner wishes it to be known that any investor who desires to invest or take over African Minerals Limited as a result of the present situation must fully collaborate or consult with the Government of Sierra Leone through the ministry of Mines and Mineral Resources," the statement said. It warned that without this such investors won't enjoy "the concurrence" of government. END QUOTE There is AMI's significant contribution to SL's GDP, the huge number of low skilled employees being employed by AMI and that need to be kept happy. There is the complex company structure, which is currently putting all the default risk against the project companies (where Shandong has the 25% ownership). Only the 400m USD bond is at AMI parent level, it doesn't mature until 2017 and the forthcoming coupon payment should easily be achievable. There is of course the significant shareholdings of Frank Timis and China Railway Materials Commercial Corporation. There is Frank's dependence on AMI's rail infrastructure for Marampa. Looking at the big picture. . . .the investment required to keep this going and further reduce costs is peanuts compared to the ROI that is possible. And that's not even considering the full life of mine for it. |
Posted at 10/10/2014 16:31 by sweepie2 London Mining Plc (the "Company") announces that the only strategic investors now remaining in the process are those whose proposals are not expected to contemplate the continuation of London Mining Plc, the listed legal entity, as a going concern. As previously announced, discussions were ongoing with potential strategic investors about structures which the Board believed would result in little or no value in the equity of the Company but the discussions with the investor which might have resulted in little value in the equity have ended. As a consequence the Directors have requested the immediate suspension of the trading on AIM of the ordinary shares and trading on Channel Islands Securities Exchange of the convertible bonds. It is anticipated that further funding in to the Sierra Leone operation and potentially other development assets would be provided by a strategic investor if the discussions are successful.Is it crazy to think out loud that this investor would have AMI run the mine, use our infrastructure in return for say going half's on revenue? |
Posted at 10/9/2014 16:26 by sweepie2 BRHave you got any comment to these exchanges? Here is the latest from IR courtesy LuckCounts on the LSE SE threads. My message to IR which I sent on Monday Thanks for the brief call. A few follow-up requests / suggestions should you have the bandwidth -- 1.Update on how government decree will impact AMI - if AMI are able to obtain exemption given national importance? Precarious situation of the firm. 2. A mining production update for August. 3. Status update vis-a-vis Ebola 4. Timis Governance controls - investigation update. 5. Strategic partner / Taewoo. It seems AMI can't survive as only a DSO producer / in its current trajectory. 6. Financing update? 7. De-sliming circuits implement. 8. What concerns did Shandong have in regards to Bernard Pryor that they requested him replaced or was it a Frank Timis initiated move to have support in the boardroom? 9. For me - AMI off-take agreements in place and time line for the same. To understand value for a potential acquirer. Appreciate your responsiveness. There is a triple panic with the share given Governance, Falling Iron Ore and Ebola. I believe AMI should be doing more to sustain the share price. There is no buying interest as potential investors don't see a bottom. Is management considering selling out if strategic tie-ups are not finalised in short order? Meanwhile we private investors who have supported the firm are getting pummelled due to lack of management responsiveness - 7%+ down today on meagre volumes. I think governance concerns are keeping value investors away from this stock. answer: All is already in the public market, so nothing new to say, but to reiterate : 1: To my knowledge the plan by the government is not yet finalised, and impact uncertain at present, but we do not expect any meaningful impact 2: Observers watching the shipping will see that we loaded 9 vessels in July and 8 in August, still completely on track for production. We don’t report monthly tonnages. 3: As per our last report 4: As per AGM statements made by Roger Liddell and widely reported 5: Expected to be addressed in interims 6: Expected to be addressed in interims 7: First units currently in process of being installed 8: As disclosed, management change requested by SISG 9: Fully disclosed in the annual report and in the project level Q1s released on 6 August I understand that silence against a moving market environment is sometimes worrying, but as you know, we have an obligation to inform the market if anything underlying the business or its outlook changes. So in some way, silence means that there is nothing new that needs to be said. I fully understand your position, but I do take issue with “lack of management responsiveness” |
Posted at 10/9/2014 13:49 by forwood Here is the latest from IR courtesy LuckCounts on the LSE SE threads.My message to IR which I sent on Monday Thanks for the brief call. A few follow-up requests / suggestions should you have the bandwidth -- 1.Update on how government decree will impact AMI - if AMI are able to obtain exemption given national importance? Precarious situation of the firm. 2. A mining production update for August. 3. Status update vis-a-vis Ebola 4. Timis Governance controls - investigation update. 5. Strategic partner / Taewoo. It seems AMI can't survive as only a DSO producer / in its current trajectory. 6. Financing update? 7. De-sliming circuits implement. 8. What concerns did Shandong have in regards to Bernard Pryor that they requested him replaced or was it a Frank Timis initiated move to have support in the boardroom? 9. For me - AMI off-take agreements in place and time line for the same. To understand value for a potential acquirer. Appreciate your responsiveness. There is a triple panic with the share given Governance, Falling Iron Ore and Ebola. I believe AMI should be doing more to sustain the share price. There is no buying interest as potential investors don't see a bottom. Is management considering selling out if strategic tie-ups are not finalised in short order? Meanwhile we private investors who have supported the firm are getting pummelled due to lack of management responsiveness - 7%+ down today on meagre volumes. I think governance concerns are keeping value investors away from this stock. answer: All is already in the public market, so nothing new to say, but to reiterate : 1: To my knowledge the plan by the government is not yet finalised, and impact uncertain at present, but we do not expect any meaningful impact 2: Observers watching the shipping will see that we loaded 9 vessels in July and 8 in August, still completely on track for production. We don’t report monthly tonnages. 3: As per our last report 4: As per AGM statements made by Roger Liddell and widely reported 5: Expected to be addressed in interims 6: Expected to be addressed in interims 7: First units currently in process of being installed 8: As disclosed, management change requested by SISG 9: Fully disclosed in the annual report and in the project level Q1s released on 6 August I understand that silence against a moving market environment is sometimes worrying, but as you know, we have an obligation to inform the market if anything underlying the business or its outlook changes. So in some way, silence means that there is nothing new that needs to be said. I fully understand your position, but I do take issue with “lack of management responsiveness” |
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