Armadale Capital Share Discussion Threads

[neo26] 28/2/2017 23:01

NoviceLets see kabunga taking up phase 2 and getting the funding first, won't be easy getting $25m funding.If they do then you can start calculating how much we will get..

[novicetrade68] 28/2/2017 22:47

So am I right that in a worst case scenario ACP will still retain 15% of this gold mine in Congo ? Just a quick calculation shows I make it they could still receive anywhere between $500k-$1m of cash flow a year, which makes the current MCAP of ACP look cheap - unless I'm missing something of course ?

[king kong dong] 28/2/2017 22:31

Well lets face it, if you are pulling the strings of 2 companies and have your own ideas, you want your non-execs to jump in line and do what they are told.

Clearly they weren't all singing off the same hymn sheet and Frewen decided to call it a day. How it goes sometimes...

[ertugrul] 28/2/2017 22:26

It's just a theory but I guess that could be one of the reason I initially thought maybe he wanted to bring a new institution in and Kabunga didn't want them...

[king kong dong] 28/2/2017 22:20

This thing with Frewen could maybe revolve around Mpokoto....

First of all, if I understand it correctly, its a related party transaction with Kabunga Holdings Pty Ltd pulling the strings.

'The entering into of a Joint Venture Agreement by KMP is considered a related party transaction under the AIM Rules for Companies on the basis that Kabunga Holdings Pty Ltd, a substantial shareholder in the Company, is the ultimate controlling shareholder of KMP.'

Secondly, if all criteria are met, Armadale dont end up with all that much of the project, perhaps Frewen thought he could get a better deal for Armadale on the open market.

Perhaps he simply refused to be a company yes man.....

[neo26] 28/2/2017 22:11

If it break 2p support we are screwed.I am not buying anymore, period...

[ertugrul] 28/2/2017 21:21

NeoAs I am planning to hold this for another 6 months I am not worried.I am going to buy some more this week while it's cheap

[neo26] 28/2/2017 20:59

And the persistent large selling that has been going on for months?You ring the company and it goes straight to answer machine what kind of mickey mouse company are they running.

[ertugrul] 28/2/2017 20:48

Guys I don't believe there is a big issues with his resignation We was not happy and resigned Let looks forward to hear good news and better person to be appoint

[neo26] 28/2/2017 20:01

Greenroom

I dont know, but the track record of acp is not very good, Frewen was a genuine straight up guy.

Another dump of 2.5m L trade, someone is dumping and have been for a very long time, it is not only personal investors dumping.

Is this a scam?

[greenroom78] 28/2/2017 18:22

"I tried to ensure that everything we did was in the best interests of all Shareholders"

"Unfortunately Boards don't always agree ... I resigned"

Does that suggest that the remaining BoD aren't doing what is best for 'all' shareholders?

[balbains324] 28/2/2017 18:01

Well that has slowed down my nervous twitch...thank you!

[king kong dong] 28/2/2017 17:21

Make of this what you will, but with 2 posters posting, I think I will sleep a bit more comfortably:

From Chopperchalk on LSE:

Just received a message from Mr Frewen, here it is after I asked why he resigned?
"A fair question but difficult to answer. the good news for shareholders is that the company is in good shape with running costs down, decent short term liquidity after the recent raise and a proper asset in Tanzania."

From Dambaba also on LSE:

"A fair question and a difficult one to answer. The good news for shareholders is that the asset in Tanzania looks very good and the company has considerable short term liquidity after the recent raise. While I was Chairman of ACP I tried to ensure that everything we did was in the best interests of all Shareholders. Unfortunately Boards don't always agree as to how this can be best done going forward. I resigned. My choice. Best Regards wf."

[greenroom78] 28/2/2017 17:00

Someone clearly knew about this yesterday. I opted to keep holding back in November after it spiked me back into profit, regretting that a little now.

Been some chunky sells so someone clearly not happy with this. I would like a better explanation as to why this happened and where that leaves us going forward. Just when things had been looking up operationally too.

[neo26] 28/2/2017 15:11

I would stop buying until we know what is going on.William was a genuine guy, why has he resigned?

[balbains324] 28/2/2017 14:54

stop buying keya!!

[keya5000] 28/2/2017 14:29

Jeez every time I buy this POS it drops another 20% lol.....

[andyview] 28/2/2017 14:00

Added on this weakness...gla

[neo26] 28/2/2017 13:13

Wtf is going on, why has he resigned.