Afnat Resources Share Discussion Threads

[rastapastamasta] 17/6/2010 08:03

Hi Gowboy
I agree - plenty of potential here. Deal values each AFNR share at 2.8p based on yesterdays AXM closing bid of 0.09$CAD.
I have started a board for AXM. Please will all posters use the new AXM thread from now on.
rpm

[gowboy] 16/6/2010 17:34

I'm still here! For what its worth......I have a gut feeling we could do well with this one. Wait a month or so and with the projects that they have on board and with some positive news we could see this start moving quickly. Old George has some experience in Africa and now with cash in the bank Axmin can commence some serious scout drilling..........but yes can someone set one up under Axmin...........! Cheers

[rastapastamasta] 16/6/2010 07:25

Anyone still here?
Fordtin - you do an excellent job of creating bulletin boards. Any chance you could set up one for Axmin please?
rpm

[giantpeach2] 15/6/2010 19:20

Should be all sorted out by the 25th june!! if not earlier.

[martinfrench] 15/6/2010 16:50

is this board going to remain, and i assume the new shares in axmin have been admitted today and the old afnats are worth about 3.2p?

[techietrader] 15/6/2010 16:15

GowBoy, it doesn't help my sleep that I sometimes make these hasty decisions. I was hoping for a shorter term return when I put some money into AfNat. But now I don't know when I will be able to trade next with the AxMin shares. My selftrade a/c does not yet reflect the conversion from AfNat to AxMin. Anyone got any ideas when at the earliest I will be able to trade in AxMin?

[gowboy] 11/6/2010 21:03

techie, think you need to get some sleep...........unless of course your not in the UK or you work night shifts!

Personally I think we could see some major interest in this when it lists in Toronto - fundamentals havent changed - effectively you have a company with some potential major revenue earning licences with a variety of metals, cash in the bank and a recent JV with a Major! Sounds good to me......

[techietrader] 11/6/2010 04:22

Oooopss....I just bought into AFNR couple of days back on the day the JV was announced. But I had missed on the news of the exchange of Axmin shares. Now, I suppose we can trade in Axmin only from the 15th of June? Has anything changed fundamentally? Is this still a good hold? I hold a trading a/c with selftrade. Hope I will be able to trade in Axmin using selftrade.

[martinfrench] 09/6/2010 19:39

no, def not. if anything perfect time to be honest.

[gowboy] 09/6/2010 18:08

No Mf, havent looked at RRL yet. Too late?

[martinfrench] 09/6/2010 10:18

gowboy,

you have a few of my shares that are similar....bao, gcm, afnr...do u hold rrl as well?

[gowboy] 09/6/2010 08:43

MF - lol.......exactly what I have done this morning and also wondering the same!!
Never mind superb news and yes resource must be fairly hopeful of finding something - need to look and see where in relation to BAO's assets...

However I think the most important part of this news is not what the resource is but the fact that this small company has managed to negotiate with Rio and come up with what looks like (on the face of it) a fantastic opportunity!

[soulsauce] 09/6/2010 08:37

imperial no just an interested observer and knew you was.

[ibs7491] 09/6/2010 08:34

a few dissappointed sellers at 2p in the last couple of days after todays rns great news...

[martinfrench] 09/6/2010 08:30

added another 100k this morning, the resource in question must be fairly big for rio to even bother?

why is it your smallest holding always go up the most?

[gowboy] 09/6/2010 08:22

Fantastic News!!!!!!!!!!!! Well done George!!!

Such a minnow like this to get a deal with Rio speaks volumes for the trust and faith Rio must have in the new set-up! Wonder will we see a clamber for shares before they delist AIM and enter Toronto? I think so because as soon as this lists in Canada its going to attract lots of interest! Superb timing to release the RNS!

[encarter] 09/6/2010 08:19

It adds £5m to the value of the company imho.

[imperial3] 09/6/2010 08:09

Are you in these,soul, and if so when??!!

[soulsauce] 09/6/2010 08:06

Well done imperial, makes up for the disappointment at NOP ;-)

[imperial3] 09/6/2010 08:05

What a super deal.

[encarter] 09/6/2010 08:04

Great news today. Afnat have a lot going for them so why get mixed up with Axmin?

[giantpeach2] 05/6/2010 09:51

Thanks mark, interesting!!!

[marben100] 04/6/2010 19:49

Hidden away in AxMin's announcement of the meeting result, we have details of the proposed Board changes, post merger:

"Accordingly, provided the Transaction is completed, it is anticipated that Messrs. Jean Claude Gandur, Robert Jackson, Francois Jaclot and Anthony Walsh will resign from the Board; the Board will be increased to seven (7) directors and Mr. George Roach will be appointed President and Chief Executive Officer of AXMIN replacing Mr. Mario B. Caron. The following table sets out the name of each person proposed to be a director of AXMIN, any position held with AXMIN, the date on which she/he was first elected or appointed a director of AXMIN, and the approximate number of common shares of AXMIN beneficially owned, directly or indirectly, or over which she/he exercises control or direction as at June 2, 2010. The principal occupation for the preceding five years has been disclosed for the new directors Ms. Ozge Erdem and Messrs. Alexander Dann, Robert Metcalfe, George Roach and David de Jongh Weill."

The new Board will comprise (subject to approval):

- George Roach
- Mario Caron (current AXMIN CEO)
- Alex Dann (current AXMIN CFO)
- Ozge Erdem (Chiliogon compliance officer, legal counsel, partner)
- Robert Metcalfe (Canadian lawyer)
- Robert Shirriff (current AXMIN director)
- David Weill (Chiliogon)

I note that Weill's location is given as Singapore.

I think this makes it clear that this transacton is, in effect, a reverse takeover of AXMIN by AfNat (but Gandur will remain the largest single shareholder, with Mike Beck also owning a fair few shares ;0)).



So, Gandur is stepping aside and George Roach is taking contol. Methinks he thinks he is better placed to make progress on Passendro in the CAR than Gandur was. That is consistent with whispers I have heard.

The Board changes occur on 29th June, once approved by AXMIN's SGM. I guess things might get interesting after that. ;0)


Cheers,

Mark

[giantpeach2] 27/5/2010 16:58

someone thinks theres value here with a 1.5 million buy, seems to be getting a bit more reconized of late!!