|Has any one got their Ambrian shares yet?|
|17 FEB 2015
|Can anyone work out how many Ambrian shares we get for our CGM shares?|
|80.5% of offer taken up by existing holders.|
|02/01/14 Conditional open offer of up to 19,389,967 new ordinary shares
(At 17p per share on the basis of 1 new share for every 2.75 existing)
Up to date website showing good progress|
|Puchase of an interest in East West Resources PLC (29% stake in the former Ambrian)
Commenting on the cancellation Jean-Pierre Conrad, Executive Director of CGM, said: "We are clearly very disappointed to have trading in our shares cancelled from AIM despite the progress being made to implement the Company's Investing Policy. We remain committed to continue delivering under the Investing Policy and will strive to enhance liquidity in the Company's shares during the course of 2012 which might include admission on an exchange or a corporate transaction".|
|This company is developing very nicely.
From a disaster to something useful.
Lots of money in cement ... if they own the quarries
The balance of the project funding will be raised from third party financial institutions. - $16m
APF holding 9.7%
... which may .... or not|
|" At 31 December 2010 CGM had net assets of $20.9 million and no long-term debt or borrowings. As of the date of this release, the Company has approximately USD 20.3 million of cash on hand."
Are they saying the company has $600k worth of assets other than cash, or is it telling us they've managed to burn through $600k (plus any interest earned on the cash balance)|
|A far cry from the original objectives.|
|Joint Venture with the CalMe Group
Laugh or Cry?|
|So whats happening since this statement? Will this ever get sorted?
29 March 2011 - Consolidated General Minerals plc ("CGM" or the "Company") announces that in light of the progress being made towards implementing the Company's Investing Policy, the admission of the Company's shares to trading on AIM will not be cancelled on 31(st) March 2011 but will remain suspended until further notice. This will allow CGM to further implement its Investing Policy to the satisfaction of the London Stock Exchange as required by the AIM Rules for Companies.|
|Just read the story above. Sums up investing in China perfectly. They steal Western Capital to prove up the Resource, force CGM to sell the project super cheap to a co that then flips it for true value a short time later. I would never put money into China again.|
|top work ford tin, says it all!
This company is effectively their pension now, theyll pay a salary to themselfs until nothing remains.
Easy white collar fraud and no doubt perfectly legal. Shall we pool sources and do the same?
Buy a goldmine producing 200 oz of gold per year, make the claim we can make it 400,000 oz and winner winner chicken dinner.|
We continue to examine the dealings of Global Green Tech Group Ltd (GGT, 0274), following our article today, Cosmetic Appearances. We'll show you how GGT bought a gold mine for 5.83 times what an AIM-traded company sold it for 3 months earlier, and that one of the middlemen also controls miner Lumena Resources Corp (Lumena, 0067).
Another thing not mentioned in the announcement was that Cosmos had acquired Westralian only 3 months earlier from China Goldmines plc (China Goldmines, AIM:CGM), for just US$26.35m (HK$205.5m), so it was now being flipped to GGT for a 484% gain.......|
|A few observations to pass the time on a cold, soggy Sunday;Looking through the AIM admission doc, it looks like directors bought most of their shares pre IPO;Number of Percentage Number of Percentage Ordinary of issued Ordinary of issued Directors Shares of 1p share capital Shares of 1p share capital Frank Vanspeybroeck 6,666,667 44.3% 6,833,335 30.35% Marinko Vidovich 166,670 1.11% 166,670 0.74% Clive Donner 3,333,333 22.15% 3,666,666 16.26% Karl Watkin 1,666,667 11.07% 1,616,667 7.17% Alex Worrall 333,333 2.21% 333,333 1.48% Evan Kirby nil nil nil nil Lance Browne 33,333 2.21% 333,333 1.48%... and it seems as though they paid very little for them;SHARE CAPITAL 2005 $Issued and fully paid: 34,150,010 ordinary shares 256,568 On incorporation 10 shares at Australian dollar1.0 8 21December 2004 placement of 18,000,000 shares at Australian dollar 0.001 13,120 6 January 2005 placement of 10,000,000 shares at Australian dollar 0.001 7,310 22 February 2005 placement of 6,000,000 shares at Australian dollar 0.05 225,210 30 June 2005 placement of 150,000 shares at Australian dollar 0.1 10,920 So, even though the company was a complete failure for the average investor, the facts available suggest that an ex-director has probably just sold his very large holding (which he seems to have picked up for a very small sum of cash) to Ambrian and/or Ambrian employees for what would presumably be considerably more than he paid for them.12 November 2010 China Goldmines plc ("CGM" or the "Company") HOLDINGS IN THE COMPANY The Company has recently been notified of the following interests in the shares of the Company: Ambrian Capital plc 12.5% Nicolas Rouveyre 7.18% Jean Pierre Conrad7.18% ----------------------------------------------------------------------03 February 2010 Ambrian Capital plc (AIM:AMBR) announces today that it as established Ambrian Resources AG, a private equity business, in partnership with a team of three former executives from Glencore. Ambrian Resources, based in Switzerland, will be focused on arranging and managing, on behalf of investor syndicates, strategic investments in the mining and metals sector globally. Ambrian Resources will be majority-owned by Ambrian Capital. The partners in this new venture are: Nicolas Rouveyre, a former Head of the Zinc and Lead Division at Glencore and at Marc Rich + Co; Jean-Pierre Conrad, most recently with Nage Resources AG, who was Chief Financial Officer of the Xstrata Group between 1994 and 2001, and prior to that was an executive at Glencore; and Kilian Carrarini, who also joins from Nage Resources AG and was a former member of the Corporate Finance team at Glencore and MFC Bancorp. ---------------------------------------------------------------------- 09 November 2010 CHINA GOLDMINES PLC The Board of China Goldmines plc (AIM:CGM) announces the resignation on 8th November 2010 of Frank Vanspeybroeck as Director of the company. Mr Vanspeybroeck played a leading role in bringing China Goldmines to Aim in February 2006 and has been a director of the Company since its incorporation. ----------------------------------------------------------------------.Considering it has been an investment disaster for the average shareholder, China Goldmines seems to have been extremely lucrative for the directors; Name of Director Salary $(US) Fees to Third Parties $(US) 2010 Total Remuneration 12 Months $(US) 2009 Total Remuneration 12 Months $(US) Frank Vanspeybroeck 34,528 326,535 361,063 383,700 Marinko Vidovich 34,528 288,000 322,528 328,500 Robert Adair 34,287 44,748 79,035 - Clive Donner 34,180 - 34,180 45,500 Evan Kirby 17,515 4,282 21,797 73,300|
|LM - meet me down the Nags Head and I'll sell you some steaks ;o)
Why would you want to build a stake in a company which has had a year to get it's act together and done nothing except pay the directors a ridiculously large remuneration for failing to run a gold mine and then defaulted on the listing requirements.|
|Please excuse such a naive question, but looking at today's announcement, how can anyone build a stake when the shares are suspended?|
are you sure you didn't mean to say 'they earnt a penny'!!!|
|They earnt every penny!!!|
|Report and Account for CGM ending June 30th 2010
See page 13 for remunerations, Vanspeybroeck $361K, Vidovich $322K|