African Min. Share Discussion Threads

[seanywauny] 22/11/2014 07:46

The suspension obviously says that the BOD care about the share price.I'm glad it's there so they can work things out with the time they require to get it done. Hopefully not too long.I'm of the opinion that either a new deal will be drawn out with SISG or we receive a takeover offer.The majors looking at this might not be able to wait until admin to make a bid as it could go into nationalisation with the SL gov.Admin makes no sense for anyone and is the least likely outcome in my opinion.

[earnestwipplethwaiteiii] 22/11/2014 07:43

So that's what the unpleasant smell is.

[broncowarrior] 22/11/2014 07:43

China cut rates yesterday, may have a positive impact on the io price.

[broncowarrior] 22/11/2014 07:40

Karma, another piece of pond scum.

[cantrememberthis2] 22/11/2014 07:34

Fuk it after much thought history shouldn't repeat itself here
too much at stake. Were north croft wrong at 23p? HARDLY any II sold up prior to this announcement. I agree with the analysts sentiment its a last dice move toselll their stake to sisg or others. A bidding war coukd ensue as 12bnt of ionisnt a london mingling. Ft has 42m shares and if that goes kaputh so too does lond... suspension a waste of time as we all knew how bad it was.... should have let it hit 1p

[karmastuartra] 22/11/2014 04:45

Rip ami,lond.

[smithim1311] 21/11/2014 23:37

The point being 62% Fe was ca $95 / t in early Aug, and is now $ 70. I'd assume 58% has fallen by a similar %age over the same time period. Don't think any management would have factored that into their plans for Q3!what was output for the quarter? Approx 3-4MT? That's quite a shortfall in expected revenue.

Let's just hope FT can produce that rabbit from his hat next week, but I'm sure Shandong will be looking for a further 25.1% for next to nothing, just to give AMI a bit of working capital. He won't accept that, but maybe he's shrewder than we give him credit for!

[cascudi] 21/11/2014 20:46

When Ami was at 40p
The company issued this statement

RNS Number : 3554O

African Minerals Ltd

06 August 2014



?


06 August 2014

African Minerals Limited

("African Minerals", "AML", or "the Company")

Market Update

African Minerals notes the share price fall in recent days. The Company can confirm that it continues to operate in line with market guidance. Building on the 9.1Mt that was exported in the first half of this year, July production was also on target, with nine Cape Size vessels loaded in the month, and the Company remains confident of its performance in August despite now reaching the heights of the wet season


Why issuing a positive new to stop the following and than giving warning 3 months later? I can't believe managers does not care about invenstors

[stockriser] 21/11/2014 19:56

I wish ;-)

[johnwalton] 21/11/2014 19:52

try selling and see if you get lucky..

[stockriser] 21/11/2014 19:20

Can anyone explain this? The morning of suspension the bid on my Barclays Market Master account was showing as 7.23p - and it stayed that way until tonight where it has suddenly gone to 12.32p

[johnwalton] 21/11/2014 18:16

The 75% stake should be put up for sale.
BOD hoping to sell a portion is just them hoping
to prolong the gravy train.

The best thing for employees[workers] & SL would be
to get rid of the dead wood.
A state backed company or major need to get involved
and help these poor people.

Along the way hopefully bond holders and shareholder
get a bit back but it looks doubtful.

75% of a 60myear resource must be worth more than the debt!!

[shimmysham12] 21/11/2014 17:39

I fear timis os about to screw share holders. Lond move was a way of forcing this situation. He will win on this.

I have lost a bit on this but feel for big holders on here.

Aim market is really not worth the risk.

Hope it works out for all.

[broncowarrior] 21/11/2014 16:54

Windjammer, that deal not going through is what has caused a lot of th eproblems here. With the cash injection promised by Taewoo it would have wiped out AMI's debt.

[w1ndjammer] 21/11/2014 15:50

only 12 months back TEWOO were ready to pay $990 mill for 16.5%

maybe they will come back to the table for a slightly cheaper deal,

all to play for.

WJ.

[miamisteve] 21/11/2014 15:32

Forwood - I wouldn't blame the big 3 given that AMI's strategy to ramp up production to drive down costs is exactly the same. If one of them stalls the others will gain the market share. perhaps the blame lies on Australia / Brazil for recognising the issue but not imposing export quotas.

[kirk 6] 21/11/2014 15:19

They could get the funds here and potentially sell a stake to get them through this time. It's not over yet by a long way.

[w1ndjammer] 21/11/2014 15:16

why do people keep coming on here saying feel sorry for anyone holding stock,

we all knew what we were doing, when we bought.

Anyway lots of companies get their stock suspended not all go under, last one I was in that got suspended was UEN . Now that is one I thought was doomed yet years later its still going, I even made money on it at the time.

I am not concerned at the moment, Timis has a good incentive to pull a rabbit out the hat.........

And if he does you will not be buying stock for 10p on open, more like 30p / 40p

WJ.

[broncowarrior] 21/11/2014 14:59

Yep, this is their biggest employer. Disasterous, Africa always loses.

[andy pipkin] 21/11/2014 13:49

Sorry to all holders here. Another Timis company I'm afraid.

[edubs] 21/11/2014 13:42

The update yesterday did not sound good. Thankfully wasn't holding myself, sorry for those that were. Sadly, barring miracles shareholders won't get anything out of this.

Frustrating because in the medium to long term this will be a very viable business which someone will pick up on the cheap.

[forwood] 21/11/2014 12:51

Sorry for those caught here. The tone of the update was not optimistic. The responsibility for this is entirely at the hands of the majors who have forced down the price of ore through their reckless expansion of output. Fingers crossed they will come through. Without AMI, Timis purchase of Lond is looking dubious.