African Min. Share Discussion Threads

[earnestwipplethwaiteiii] 05/3/2015 14:11

Assuming all is lost with AML, layman opinion is of no value here, what is needed now is expert legal advice to ascertain if shareholders have any case against the Board and/or NOMAD. That is the only recourse left. If not, then it's move on....

[beeks of arabia] 05/3/2015 13:55

Fascinating stuff.

Hard to see how you blame the BOD for Iron Ore prices/Natural disaster such as ebola?

Best of luck anyway. I personally think you have absolutely no chance.

[casual47] 05/3/2015 13:51

Regarding Financial TImes et al --It may be stuff is going on but people are waiting until all the cards have been played out.

[newswseller] 05/3/2015 13:49

Good effort, will anyone take any notice though.. Thought the FT would be salivating over this story with their fascination with frank and the 50m

[casual47] 05/3/2015 11:40

There were three loans secured against TIO and ARPS. I found the below qualifier for each in one of the docs:

PXF "The Aggregated Group has granted security over the cash flows from a third party sales contract."

Equipment loan 1 "The Aggregated Group has granted security over certain items of property, plant and equipment financed by this facility."

Equipment loan 2 "The Aggregated Group has granted security over certain items of property, plant and equipment financed by this facility."

Question: Does this mean the security is only against revenue from sales? So, they don't actually get to own the assets, just any cash until repaid?

[earnestwipplethwaiteiii] 05/3/2015 11:27

casual - I imagine our Board are with their still-affordable (to them) expensive lawyers, putting together a watertight story for consumption of shareholders. Then they cannot be held liable for any of the murky practices that have taken place over the past few months.

[casual47] 05/3/2015 11:04

Gibril holding meetings regarding restart of mine is not necessarily in contradiction with the last RNS.

Shandong have taken control of the mine, rail and port so they can do what they like.

That Gibril is cooperating with them stinks of course.

AMI must tell us what is going on and what exactly they are doing to protect our interests.

[acliff] 05/3/2015 09:32

The position here looks fairly terminal

If anyone has a long position with IG and would like to clear it I am happy to trade 20,000 shares at 1p

this should benefit both of us slightly, I have asked IG and this is possible,
let me know if interested
acliff

[acliff] 05/3/2015 09:32

The position here looks fairly terminal

If anyone has a long position with IG and would like to clear it I am happy to trade 20,000 shares at 1p

this should benefit both of us slightly, I have asked IG and this is possible,
let me know if interested
acliff

[acliff] 05/3/2015 09:31

The position here looks fairly terminal

If anyone has a long position with IG and would like to clear it I am happy to trade 20,000 shares at 1p

this should benefit both of us slightly, I have asked IG and this is possible,
let me know if interested
acliff

[broncowarrior] 04/3/2015 22:20

Get for what?

[casual47] 04/3/2015 21:13

These guys can help with the paperwork and process of shareholder requisition

[seanywauny] 04/3/2015 19:18

How much did you get for that Bronco?Pmsl

[kirk 6] 04/3/2015 18:41

Bronco lol

[broncowarrior] 04/3/2015 18:38

Let's face it, we are done. SISG have effectively taken over 1bn USD of port, rail and mine infrastructure for about 200mm at the most, plus whatever they ploughed in originally.

Even if they made an additional token offer to AMI shareholders to take over AMI itself, that will be eaten up by the convertible.

TO think I bought this at 150p orginally only looking for 200p, I wasn't even being greedy!

[casual47] 04/3/2015 13:00

Media in Sierra Leone

Not sure we should make assumptions re. silence on AMI in Sierra Leone.

A great deal of SL people are still illiterate, especially older people and women.
A great deal of SL people have no access to the internet.
The newspapers have limited circulation and are small private enterprises.
The majority of SL people get their news from radio.

I suspect any internet articles we have seen in the past were written on demand for foreign eyes.

[earnestwipplethwaiteiii] 04/3/2015 12:34

As I understand it, the offtake is against the project company, TIO.

[casual47] 04/3/2015 12:18

Not sure where any Shandong claims would sit: e.g. claims re. their offtake agreement. Would they claim against project companies or AIM listed entity.

[casual47] 04/3/2015 12:12

The AIM listed entity has a 400m convertible bond against it for which they are already in default on the interest payment. All other debt is against the project companies, which are now being controlled by Shandong. (There may be supplier payments etc outstanding on the listed entity of course too).

Whatever money/assets get funneled into the AMI "shell" would be offset against that, should they call it in.

As per the email from Murray I received yesterday, he thinks we should get clarity on worthless shares or not in the next week or so.

I imagine that is the period where AMI will find out if they can stop Shandong seizing assets or have grounds to take them to court.

All the above assuming of course this isn't a done deal stitch up....

[fishyneck] 04/3/2015 12:05

So it very much looks like AMI is going to have all its current assets stripped from it. Is there any chance that it will remain an AIM shell company with a view to FT returning value through another means? Put Marampa into AMI for instance as a new business model or some other cunning plan he may be hatching! I've got to be honest and say I've lost track of the recent RNS's and now not sure who is in charge of assets and debts!!

fn.