African Min. Share Discussion Threads

[warwick69] 24/3/2015 12:21

this is outrageous what the hell are our board doing to protect our interests we have been robbed of our assets?

[earnestwipplethwaiteiii] 24/3/2015 12:17

I take the mention of AML to be just careless reporting on the part of "State House". We have been royally shafted and will receive nothing or next-to-nothing.

[earnestwipplethwaiteiii] 24/3/2015 12:08

"How much do you bid, Mr Zhang?
"One Sierra Leonean piastre, Your Worship".
"Do I hear two Sierra Leonean piastres?"
(Prolonged silence)
"In the absence of any further bids, sold to the gentleman in the polyester suit".

[casual47] 24/3/2015 11:58

So Shandong is putting TIO and ARPS up for auction on the strength of them having seized assets due to owed monies for the secured loan and it looks like it is already done and dusted that Shandong will be the only bidder??

If so, looks like a stitch up to me....

If all of this is done from within Sierra Leone and bypassing the administration process of AMI UK then there really will be nothing left.

Perhaps this was part of the deal FT struck? I will delay administration of the UK business which has the 75% ownership while in SL those assets are being sold off?

[fishyneck] 24/3/2015 11:54

"He said Shandong has already purchased the debt and the next step is to have 75% share from African Minerals Limited through auction"

Does this mean they will be making an offer for our 75%, and if so if they have already purchased the debt will it mean value to shareholder?? I guess not but it's such a mess I've lost my way with it...

fn

[sapper2476] 24/3/2015 11:50

Unfortunately this will have nothing to do with AMI who have shafted their shareholders with continuous lies.

[waleriuszwatrobka] 24/3/2015 11:46

"Glimmer of Hope for the Mining Industry...As Shandong, AML Recommence Mining Operations

As government is putting together a robust post-Ebola recovery plan, the Ministry of Mines and Mineral Resources together with Shandong Steel and Mining Company have expressed strong commitment and willingness to recommence mining operations in the country by mid-April, 2015.

This expressed commitment was made during a meeting with Executives of Shandong Steel Company, the Ministry of Mines and Mineral Resources and representatives of the Tonkolili Iron Ore Mines at State House, Freetown."

[earnestwipplethwaiteiii] 22/3/2015 09:44

...but thus far not ownership, an interesting state of affairs beyond even your competence to comment on authoritatively I suspect, Bones.

[bones698] 22/3/2015 09:31

Windjammer your dreaming of u think u will get anything never mind 4p . If such an offer was to be made which is very unlikely it would've for fractions of a penny but I doubt they need to . Ssig have run riot over ami's bod and shown them to be pathetic in all honesty and the Chinese are ruthless and efficient when it comes to buisness .

Time is almost up with no new nomad the shares will be delisted and worthless from there on in its a case of legal case only all value has gone in the shares . Ssig will not pay for them they don't need to they already have control of the mine .

[bones698] 22/3/2015 09:27

Fishyneck as for the chances of success I will argue they are small , the bod will be well covered as any rns is vetted by the nomad etc and a large group of people so they have cover there . Also what pi's think and assume to be what's happened and proving them are usually very different . Personally think your throwing good money after bad here . Look at many other cases which just fizzle out or drag on many years at great expenses yet still no return . My opinion but one forged over 25 years .

[casual47] 20/3/2015 15:29

Technically we are not yet in adminstration as an administrator hasn't been appointed yet?

How long can the BOD continue this state of limbo?

[broncowarrior] 20/3/2015 15:26

Seany, they are in administration. There is a hirerarchy of creditors that need to be paid out and shareholders are pretty much at the bottom. That is why investing in shares is risky.

The directors have nothing to do with this company now. The job of the administrator is to see if it can continue the ocmpany as a going concern and if not put it in liquidation mode.

SISG will not want to buy us out because if they buy the company out of admin they are likely to then take on the debt of the company other than the money owed to them.

The way this company was structured, complete disaster for us.

I am a lawyer myself so I'm not talking BS.

[w1ndjammer] 20/3/2015 15:21

I have no idea but maybe most peeps would sell out for 4p so Shandong would get the majority for very little expense. Could be better than nothing.

WJ.

[earnestwipplethwaiteiii] 20/3/2015 15:05

It all depends on how this ownership/control issue pans out. Why would Shandong buy our shares if they can operate TIO and the rail without?

[w1ndjammer] 20/3/2015 14:46

when Equator Exploration was hijacked by Oando, EEL was delisted. Oando organised that shares could be sold through Fox Davis, which indeed I did.
Maybe Shandong will buy the shares has anyone contacted them ?

WJ.

[seanywauny] 20/3/2015 14:27

A thought-If we delist from LSE, we still own shares privately in the shell of AML?Removal from LSE simply means we cannot trade our shares no?Is it not easier this way to allocate say a compensatory share buy-back in-house? Without being binded by LSE regulations can the directors not choose to allocate funds to private shareholders as opposed to the Bondholders for instance?Any thoughts welcome.

[newswseller] 19/3/2015 12:01

Shimmy still not received your holding details?

[cantrememberthis2] 19/3/2015 11:01

Whatever AMI now and their supposed partners is irrelevant.
Lets see what Legal Eagles have to say about it all...

[hdb] 19/3/2015 08:24

If there is no money or cash left in the business then the government have to appoint an administrator as I understand

[hdb] 18/3/2015 17:48

Any news on administrators ... Spike to accountant

[shimmysham12] 17/3/2015 19:14

Signed up for what?

[casual47] 17/3/2015 19:03

Someone has updated the African Minerals website:

[newswseller] 17/3/2015 18:59

Shimmy you haven't signed up yet?