African Min. Share Discussion Threads

[earnestwipplethwaiteiii] 09/1/2015 23:05

Five cans will see you home and dry.

[kirk 6] 09/1/2015 22:55

"A direct casual link" late Friday evening and after just one can that's a tough sentence to grasp

[earnestwipplethwaiteiii] 09/1/2015 22:48

The administrator will still attempt through legal means to recover debt owed to ADQ.
As above, without knowing the full story, it is difficult to form an opinion of AMI's exact role in the downfall of ADQ; on the surface however, there does appear to be a direct causal link.

[kirk 6] 09/1/2015 22:31

Thanks gents however does this mean AMI can avoid the payment ? Only small I know but every little helps?

[casual47] 09/1/2015 21:28

Kirk, just passing the info. Not much point in speculating. I am not infering nor implying anything. Looks like AMI may be up and running again soon if Liu is correct. The downfall of ADQ is not necessarily down to just AMI. They were in dire straits before and another of their clients went bust. Looks like they were unlucky in establishing themselves just as the mining world started to slump. According to a poster on the Oz hot copper forum they made a mistake with AMI in giving open ended payment terms?

Anyway, it does look like admin will be avoided here. So it's just a question of how much value will remain in AMI and how that will reflect in share price

[fishyneck] 09/1/2015 21:10

And it also doesn't point to a quick resolution to our suspension.

[fishyneck] 09/1/2015 20:49

I'll tell you what it is, a massive shame for everyone involved in that company! FT should be ashamed of himself if his purchase of Lond was the cause of the Chinese withholding the funds. Somebody has lost their business due to it. A sad day to be connected with AMI.

Fn

[kirk 6] 09/1/2015 19:44

Will it mean they won't have to may the 1.5m which would be good for AMI

[kirk 6] 09/1/2015 19:41

Casual what do you think that means for ami

[casual47] 09/1/2015 19:33

The supply company that was owed money by African Minerals has folded, they announced on Wednesday voluntary administration:

"(...) ADG is owed US$1.5m by AML. Based on updates AML have provided to ADG, the Board of ADG have identified the strong likelihood of extensive delays in the release of any funds. This uncertainty is significantly impacting ADG's cash flows such that the Board of ADG has taken the prudent course of action to today place the Company and its Australian Subsidiary ADG Global Supply Pty Ltd into voluntary administration"

[kirk 6] 09/1/2015 16:55

Will lulu post today I wonder

[fishyneck] 09/1/2015 15:24

Yeh on a serious note I'm happy to give them as long as it takes to get the right deal sorted.....it's the news vacuum that as a shareholder I find annoying. They know that many people have a lot riding on the outcome here and an official update now and again wouldn't harm, especially as it can't affect trading!!

fn.

[sapper2476] 09/1/2015 15:16

Personally, the longer the silence the better I feel.

[kirk 6] 08/1/2015 20:18

I think he is an employee yes it seems the are working on a deal. Unfortunately the email regarding contact numbers just looks mandatory

[deusfaber] 08/1/2015 20:15

Who is liu??just read all of his comments and he is clearly the insider.
lots of people angry right now with communications it seems.
liu said a deal will be done at the end of the week..hope he is right then
i can live a happy life :)

[kirk 6] 08/1/2015 20:10

Sean - agree sound like nothing after a re-read. Just every post from lui on compare the market seems exciting.

[seanywauny] 08/1/2015 20:06

Don't believe it's good or bad news just record upkeep most likely. There isn't a hundred staff to call up thousands of employees.I imagine that stricter protocols in employee records were implemented anyway due to Ebola and that a continuous update on employees details be regularly conducted. Who do they call if a worker gets it etc.It could also be that some employees didn't receive their 7% bonus due to outdated sort codes/account numbers etc.

[deusfaber] 08/1/2015 19:39

would be interesting to know from London employees how it worked??
did they call them by phone when it went into administration?this is most likely just to start the operation again and they want to make sure that they can contact everybody..at the end of december some of the employees said they expected to be back in work in a fortnight or so.

[kirk 6] 08/1/2015 19:26

Thought its sounds good?

[deusfaber] 08/1/2015 19:25

depends on how you read the message, could be great news.

[newswseller] 08/1/2015 19:14

Sounds bad?

[kirk 6] 08/1/2015 18:48

Employees got email, Dear all, We have been sending regular updates to you over the last month and have noticed that some contact details that we had on file were outdated or incorrect. This should now have been corrected but we would also like to have all correct contact phone numbers. Could you please reply to this email by stating the best number to contact you on? Please also add your country number (+61 for Australia for example) before the actual number

[fishyneck] 08/1/2015 15:21

For the purpose of balance though until we hear different we are still a suspended share with financial issues and any outcome is still possible!!