African Min. Share Discussion Threads

[miamisteve] 07/11/2014 13:25

58% Fe is not at $63. It has remained at $67, the same as when 62% was at $80+.

There isn't much commentary about the 58% market, but it stands to reason that as it reaches these low levels its price action must become more inelastic and the margin between the two grades will decrease.

[forwood] 07/11/2014 13:21

Tavistock is not IR, it's a PR company and will not be that close to the action. I think Newswseller's points are closer.

One of the issues with the results may be that the fall in ore price impacts depreciation of assets. Am not that familiar with AMI's accounts, so don't know what the impact will be or even if they need to depreciate but it could make the headline profit figure worse. It's all non-cash which is the main thing but people tend just to look at the headline.

[forwood] 07/11/2014 13:14

Using the link to ore prices under the graph in the header, you can see the daily variations. A few daily dips below 80- are not going to worry producers unless they stay low for a month or so. Weren't there major predictions of a rise towards the year end?

Besides, a price in dollars at $76 now when sterling has fallen to 1.582 (£48.04) means that a $4 drop from $80 when sterling was 1.62, is a fall of just £1.34.

[newswseller] 07/11/2014 13:13

Haha, sure, advertise your going to sell in advance because of an IR response that doesn't tell you anything you don't already know. Some sad shorters willing to say anything for a quick buck

[scottie01] 07/11/2014 13:06

Have to agree with lebiche,that reply looks very ominous to me,I'm looking to sell now.

[earnestwipplethwaiteiii] 07/11/2014 12:55

"It is worth noting the continued fall in the iron ore price..."
Well yes. It is also worth noting the 50% fall in the share price of AMI in less than a week.

[forwood] 07/11/2014 12:50

Got back in at 10.75.

[cantrememberthis2] 07/11/2014 12:38

Lebi take a hike and 0121 do 1

[lebiche] 07/11/2014 12:36

Doesn't sound promising!

[substp] 07/11/2014 12:34

I have just had a response from Tavistock ....

Thank you for your enquiry. Mike Jones is currently in meetings today and has asked Tavistock to respond to you on his behalf.

African Minerals has previously commented on share price movements via RNS but the Company cannot comment every time given the significant volatility experienced by many mining juniors and by many iron ore companies in recent months.

It is worth noting the continued fall in the iron ore price with the 62% Fe price beyond a 5 years low of $75.50 this week and the 58% Fe now at $63.00.


The Company is working on the IMS and hopes to publish it in the near term.

[newswseller] 07/11/2014 11:48

Response from IR:
Q3 update is with the exec for review, will address production, costs, revenues, projects etc including 1G, desliming,
Provides an update on the debt piece and the bond.
Board are still in closed period.
There has been no notification of changes of any major interests in shares.
There has still been no incidences of Ebola

[casual47] 07/11/2014 11:40

No post for almost an hour....the shorters got their pound of flesh?

Topped up.

Do we think they will wait to release Q3 until refinancing is sorted?

[substp] 07/11/2014 10:57

Bloody good read...... Should take all of it in....



5% = 16.5 million shares

10% = 33 million shares

Edit: "The fund manager will only need to disclose when holdings breach 5% and 10%"

[newswseller] 07/11/2014 10:45

I want to see a holding RNS now, if there is a seller they would have moved more than 1% now given the volume over the last two weeks

[newswseller] 07/11/2014 10:24

All over the shop getting moved around on AT trades of 40£

[ntbb] 07/11/2014 10:14

l2 gone super strong, expect strong bounce

[cantrememberthis2] 07/11/2014 10:09

Disgraceful algos 100 200 277 327 trades
shorts and a large ii seller

[bulltradept] 07/11/2014 10:06

10 has to hold now as far as I'm concerned. GLA

[stockriser] 07/11/2014 10:05

Yep, I've lost count how many there have been this morning!!

[bulltradept] 07/11/2014 10:04

Now back into auction, again!

[sapper2476] 07/11/2014 09:56

Big bounce........ eh.... no....... unfortunately.

[ntbb] 07/11/2014 09:55

dont worry guys these chineese will have it for take away

[stockriser] 07/11/2014 09:43

Is this the big bounce coming?? ;-)