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AMI African Min.

10.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
African Min. LSE:AMI London Ordinary Share BMG0114P1005 COM SHS USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 10.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

African Min. Share Discussion Threads

Showing 9276 to 9298 of 9750 messages
Chat Pages: Latest  378  377  376  375  374  373  372  371  370  369  368  367  Older
DateSubjectAuthorDiscuss
26/2/2015
07:46
Done. lets roll
cantrememberthis2
25/2/2015
23:40
Rally cry We are nearly there now and have the number needed for EGM so to formalise this I've created an ipetition at the link below. Yes you have to your email in for them to verify your signature however this is secure and is only used to ensure you exist. I've put my example to follow. Guys if you really want to make a difference and call an EGM then sign it, click through to the email they send you and that's your signature taken care of: Time to step up chaps.....once we cross the threshold of 100 and over 5% then we can nominate reps. You have to help yourselves now. Here it is..... http://www.ipetitions.com/petition/african-minerals-egm
newswseller
25/2/2015
22:37
Looks like we can already submit a shareholder requisition. (100 shareholders holding at least £100 average)

So....what now?

casual47
25/2/2015
21:50
Don't forget folksFor latest updates email your holdings to amipic@outlook.com and information that can't be posted on here will be shared
newswseller
25/2/2015
20:44
I've had some interesting correspondence with Paddy Docherty today. Will give a full account tomorrow as I think I should give some time for his assistance to take effect.
seanywauny
25/2/2015
14:28
seanywaunny nice one the more of these we can send to more and more interested bodies the more pressure we can place on the board and SSIG to do the right thing?
warwick69
25/2/2015
14:16
Nice one Casual & Kirk, hope you get adequate responses.FWIW, emailed Paddy Docherty from Phoenix Africa, who presented at Parliament meeting yesterday. See last article I linked earlier. He seems happy to try and convince investors that Sierra Leone is an investment haven.'Dear Mr. Docherty,In reference to your statement 'Oh, no – I've seen Blood Diamond'. It's ridiculous' made at the Parliament Atlee's Suite yesterday.I have to agree that this statement is ridiculous, however, I fear that it will soon be generically replaced with 'oh no - that's where that huge African Minerals Iron Ore mine screwed over shareholders with SL government approval'.I believe that a big corrupt stain is about to tarnish Sierra Leone as AMI is the biggest employer. Furthermore, I fear that over 100 private shareholders who are about to lose their life savings and investments are intending to band together to drag the business case for Sierra Leone through the mud.I write this, just in case you weren't aware of the gravity of the situation.Regards'
seanywauny
25/2/2015
12:18
Soon to come calling at certain aim directors doors I wonder?
sweepie2
25/2/2015
12:00
Sent the below to Murray yesterday, no reply yet

Hi Murray,

There is some anxiety among private shareholders regarding the "no value for shareholders" statement in the recent RNS and also rumoured conflicts of interest.

When you say there is still much work to do as a Director, does that mean work that is in the interest of shareholders i.e. to try to extract some value for us? If not and the endgame is no value for shareholders then for whose interest is it?

Would you agree that if no value for shareholders can be obtained through saving the company that administration either at the parent level or at the project companies level would be the only valid option that is in the interest of shareholders?

The anxiety we feel is exacerbated by the many rumours swirling around regarding conflicts of interest and potential corporate malpractice, specifically relating to the Executive Directors. Several PIs have established contacts with current and former AMI employees, contractors, creditors and others. The picture these contacts paint is deeply troubling as the implication would be that primacy is given by the BOD to certain vested interest above the interests of shareholders. I don't expect you to comment on these rumours but I mention this to give context to the quandary of private shareholders.

A poster on one of the bulletin boards mentioned that you are no longer an employee of Dundee, does this mean that we can consider you an Independent Non-Executive Director?

If it's OK with you I will share your response with fellow PIs,

casual47
25/2/2015
11:38
seany - a friend who is a lawyer said he would look into it but dont get excited as this has happened quite alot in the past.
kirk 6
24/2/2015
22:21
Kirk- you spoke to a lawyer or you intend to speak to a lawyer?
seanywauny
24/2/2015
22:18
Yes iron ore stable as well. Just a glimmer of hope maybe. Either way I'm prepared to take legal action and spoke to lawyer
kirk 6
24/2/2015
19:21
All the big miners up so confidence in them returning so perhaps one of the brave ones will pounce on the resource potential
hdb
24/2/2015
18:31
-'African Minerals Ltd. and Timis Mining Corp., formerly known as London Mining Plc, will restructure their businesses in Sierra Leone, and more companies will begin exploration works after the virus is defeated, said Sisay, who's also chief executive officer of London-listed Sierra Rutile Ltd. African Minerals in December shut its only mine in Sierra Leone amid a dispute with a Chinese steelmaker and after prices for the raw material plummeted.'"Iron ore is still relatively high cost, heavy investment is required to reduce the overall cost to get the volume out," Sisay said. "It's a volume game, so the trick is putting in the right volume of investment when the market is at a particular level so you don't get caught with a huge debt in your balance sheet when you try to expand. I think that's where most of the companies are finding themselves."
seanywauny
24/2/2015
16:14
This is like being in a game of dodgems but where your car has no controls.....

As far as we know AMI is not in administration, either on parent or on project level, that much we know.

casual47
24/2/2015
14:39
TIO etc are private companies. AMI as 75% holder have the right to request voluntary administration for them.

If they succeed then the whole of TIO will be put into administration.

casual47
24/2/2015
14:35
John -- Assuming the injunction story is credible (seems we have two opposing stories on that) then because the injunction was lodged in Sierra Leone then we can assume it was at the project level. This means TIO etc.

Shandong has no power to prevent AMI at parent level from going into administration.

casual47
24/2/2015
14:29
Casual it is AMI that will go into administration not the project TOI.

AMI 75% of the project will go into Admin.

john henry
24/2/2015
13:44
If the AMI bondholders are not calling in the $400m debt then we can assume they can see value as well in having AMI not go into administration on the parent level.

Administration on the project level means that the whole 100% will be up for sale, so including Shandong's 25%.

I can see three possible outcomes:

1. Shandong fail in their attempts to block administration of project companies. A 3rd party buyer will pick up all the assets. There could already be a buyer lined up? -- Potentially GOOD for shareholders.

2. Shandong succeed in their attempt to block administration of project companies. AMI on parent level goes into administration. -- Potentially BAD for shareholders (no value etc).

3. AMI withdraws their request for administration and Shandong increases their offer to AMI and this is accepted by our BOD. -- Potentially GOOD for shareholders.

casual47
24/2/2015
13:34
who knows if SS are blocking AMI going into admin then all i can conclude is they damn well know the true value of AMI and definitely want it on the cheap and dirty...

if FT and BoD support going into admin then i for one cant complain as we shall then see what 12bnt of iron ore with richer content is actually worth over 60yrs+

cantrememberthis2
24/2/2015
12:33
Possible scenario?

1. TIO is put into administration, perhaps sale of 24-51% share of Port&Rail subsidiary as part of the deal

2. Funds from sale of TIO used to pay off debt against TIO and 25% share Shandong, remaining funds funneled back into AMI

3. AMI purchases Marampa from FT and can use Port & Rail by virtue of being shareholder in ARPS

Result:
1. Shandong has been removed from the picture, apart from their 25% shareholding in ARPS (which would be useless to them so they will probably sell that)

2. AMI remains listed, albeit as a smaller entity,

3. FT remains involved in iron ore mining in Sierra Leone

casual47
24/2/2015
12:04
FT must have submitted the voluntary administration request for TIO etc during the Chinese New Year. Would explain why they lodged the injunction yesterday, after the holidays.
casual47
24/2/2015
11:46
Also any agreements e.g. "Most Favoured Nation" would fall away as I presume these are done at the subsidiary level.
casual47
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