Angel Mining Share Discussion Threads

[induna123] 06/2/2013 11:18

I've said all along their RNS's contain spin. They must think everybody who reads them are stupid.

[mds2028] 06/2/2013 11:13

clearly part time workers like our part time CEO

[gb234] 06/2/2013 09:48

Good question JAF,where is the production Dec 6th to Jan 13th.It is about time you started noticing these little inconsistancies.

[jaf1948] 06/2/2013 09:36

MDS, Still nothing. And it's not just two weeks missing - the last gold pour was December 6th; the RNS states the last pour on January 27th was 14 days production. Where is the production from December 6th to January 13th ?

[mds2028] 06/2/2013 09:21

Hi JAF any response on your email NH, two weeks of missing production needs to be explained and it is typical of his style of smoke and mirrors management

[gb234] 06/2/2013 08:36

So ANGM have ignored weeks and weeks of none production and then claim that 600 odd oz in 2 weeks is commercial production levels! You couldn't make it up.The costs of running Nalunaq are $1.4m a month and it doesn't reduce much just cos mining stops, as wages still have to be paid and fuel used to stop the equipment seizing up.Why was there no production for weeks,c'mon ANGM spill the beans! I guess they think PIs are stupid enough to just focus on the 'commercial production'words and they could be right.

[fludde] 06/2/2013 08:23

So ignore the weeks when there was no production?

[apetley] 06/2/2013 03:04

The rns states the last pour was of just two weeks production which also gave them commercial levels which is excellent news.I too would like to know what happened to the missing weeks but it is believable that switching to the pillars was the reason.

[jaf1948] 05/2/2013 17:49

sleveen,

that is, if I ever get an answer.....nothing so far.

[gb234] 04/2/2013 14:42

This was suspended with the share price slightly above 0.5p but I doubt that it will come out of suspension anywhere near that.0.2p maybe,after having placed billions of shares at 0.1p, is more likely.JAFs logic is bent as usual.PIs who took a 90% loss at 0.5p to 0.8p and above will be better off than those who held on.Afterall when angm comes out of suspension the shares can always be bought back.Too late for those who didn't sell as I expect the share price will take a long long time to get back to 0.5p.

[sleveen] 04/2/2013 14:31

JAF your answer will be that the pillars took longer than expected to blast/mine etc

[jaf1948] 04/2/2013 14:29

reallyrich,

I can't agree with your logic. Say one had £10k invested in ANGM and it does come back from suspension and the investment is now worth £1K. If you sell then, you take a £9k loss and have no chance of getting it back. If you hold on, there is a chance it may improve and the most you can lose is another 10% of your original investment.

Of course, it does depend on a) the shares coming back from suspension and b) what the deal is.

As for the gold pours, I have written to Nick Hall asking for clarification on the missing weeks. He had previously told me that they had made a shipment to Europe before Christmas so the figures may just be missing rather than no production at all, for which we would have had an RNS.

[reallyrich] 04/2/2013 14:07

So am I right is saying that from the last gold pour on the 5th of December they have only produced 670oz as per the latest rns (almost 8 weeks)
So what we have is production levels dropping like a stone.

If this comes back from suspension I beg you all to get out for your own good.

[futhark] 04/2/2013 13:44

I have just received the RNS which Dr Know has posted above.

[maxmarilli] 04/2/2013 13:19

still life in this stock,should come out of suspension pretty soon,then..i think more agreements will come out and ,hopefully the share price will stay at these levels or better...

[wapper] 04/2/2013 13:18

Looks like we live to fight another battle.Not all abandoned yet

[dr know] 04/2/2013 13:13

As the following doesn't seem to have been released by an RNS I'll reproduce it here ...


Posted on their website today February 4, 2013


ANGEL MINING PLC

("Angel Mining" or the "Company")

Shareholder Update

Angel Mining plc, the Greenland-focused mining and exploration company, is pleased to provide shareholders with the following update:

Operational update

On Sunday 27th January, there was a gold doré pour at Nalunaq of 24.5kg, being 670 ounces of gold which has generated US$1,104,740. This gold pour was achieved with 14 days of production effort and, if maintained, it would be considered a commercial level of production. Pillar mining has just commenced and the Bureau of Minerals and Petroleum are expected to visit site during the next two weeks to approve the first pillar workings.

Creditor action update

On 24 January 2013, the Company announced that it had filed an intention to appoint an administrator both for the Company and its principal operating subsidiary, Arctic Mining Ltd. This filing provided the Company and Arctic Mining Ltd with a period of protection during which no legal action could be taken, within the UK, against either of the two companies. Should no agreement be reached with creditors before the expiry of this period, on 6 February, the appointment of the administrator requires action on the part of either the directors or creditors. Alternatively, the Company has the option of extending the notice of intent which would provide the Company and Arctic Mining Ltd with the same protection for an additional ten business days.

A proposed deferred payment plan has since been presented to the principal trading creditors and, whilst negotiations are on-going, it is hoped to have formal agreements in place by mid-February. The Company also continues to work with Cyrus Capital Partners LP to explore financing and restructuring options.

Suspension from Trading on AIM

Shares in the Company will continue to be suspended from trading on AIM until further notice.

Further updates will be provided to shareholders as soon as possible.

[chesil356] 04/2/2013 12:14

lights on!

[pwhite73] 03/2/2013 19:51

What on a Sunday?

[badhshah] 03/2/2013 16:10

Heard a rumour, it is game over.