African Min. Share Discussion Threads

[earnestwipplethwaiteiii] 12/1/2015 12:07

casual - quite so, but I suspect most of us would agree to almost any stake sale if it meant that we survive, after sailing so close to the wind for so long.

[casual47] 12/1/2015 11:59

Any agreement re. stake sale will depend on Shareholder approval, let's not forget. They can't just make backroom deals without putting it to a vote at an EGM. All that is governed by AIM so there are rules on how that should be done (#weeks to give notice for EGM to take place, RNS with all details, etc)

[sweepie2] 12/1/2015 11:27

Wouldn't at all be surprised that another RNS will be released this week as its quite a few days ago that we first heard that salaries would be paid in full, crossing the t and doting the i hopefully full agreement soon

[seanywauny] 12/1/2015 11:26

It's decent, I'll take it :)A good will gesture and saves their 1.5bn investment at the same time.If anything it serves to place the ball a little more in our court as this action obviously implies SISG's reluctance to let this company fall. Time will tell on the best deal & compromise we can get out of it.A good start to the week!

[stockriser] 12/1/2015 11:25

Yep, the fact that they have released some funds is extremely positive.

[fishyneck] 12/1/2015 11:19

What do we make of that then? Good news they have released some funds, why would they do that if they weren't going to do a deal? It would be throwing more cash away? The rest of the RNS is grim but expected until a deal is done.

fn

[sweepie2] 12/1/2015 11:12

12 January 2015

African Minerals Limited

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

Financing Update

African Minerals Limited, the developer, operator and 75% owner of the Tonkolili Iron Ore Project (the "Project") in Sierra Leone, today provides a financing update.

Further to the announcement made on 1 December 2014 regarding efforts to secure additional short-term funding, discussions have continued with Shandong Iron and Steel Group ("SISG"), AML's partner and 25% owner of the Project. As part of these discussions, AML and SISG have agreed to the release of $12.96m from the Project's restricted bank account in Hong Kong.

The cash has been applied to the payment of December salaries and accumulated taxes due in Sierra Leone.

Negotiations continue between AML and SISG regarding a funding solution. These discussions remain the Company's utmost priority and while the Board of AML continues to make every effort to advance them, there can be no certainty of future releases of funds.

The Company's ordinary shares will remain suspended while there remains a fundamental uncertainty in the financial position of the Company. The Company's operations remain under care and maintenance until a funding solution is achieved.

AML will continue to provide updates as negotiations progress.

[deusfaber] 11/1/2015 22:29

Why do you say that??
Miracle means situ is impossible.

[newswseller] 11/1/2015 20:23

We need a miracle.

[kirk 6] 11/1/2015 15:37

From compare the market

[kirk 6] 11/1/2015 15:36

rshah 09:34 Liu whats the latest in SL?,,,,,,,,,,,, we are loading Ft Lond ore , as you know its small scale , only 6-7 million a year , current Port capacity around 20 /25 millions , everything perfect on Timis Corporation side , few cargo trains a day , (less now , because all stock in LOND are emptied , so depends on productions over there ) anyway like said on Timis Corporation side seems perfect

[kirk 6] 10/1/2015 21:56

Lol miracles happen then I think you will get more than your investment back!

[sweepie2] 10/1/2015 21:49

Won't get my hopes up until I see the release, had written off this investment though so if it comes back it will be a miracle

[kirk 6] 10/1/2015 15:54

Sounds good but looking forward to official confirmation

[deusfaber] 10/1/2015 15:32

FT is not gonna deliver bad news on the ground....The original rail link deal was so paltry as they figured it would be very short term and both mines will be merged ..FT has likely a nice deal for tmc in the new outfit with the costs very very low .
Jeffries will allow the board to buy shares if the financing is sorted;if.
Nothing confirmed yet but liu seems to think it is done and he is genuine.

[shimmysham12] 10/1/2015 14:52

Lse recon timis now in sl. Looks like announcement Monday. Sounds positive, but who knows. Hope it works ok for everyone.

[newswseller] 10/1/2015 12:57

Liu is real deal, a contractor.. He has been posting internal emails so def legit,, however he is only posting what he is hearing, so not 100% accurate https://www.discussthemarket.com/thread/1437/ami-stream-log/1/

[kirk 6] 10/1/2015 12:35

newswseller - 10 Jan 2015 - 10:59 - 4361 of 4366 - 0More from Liuwell , what heard from Big Guys , that we back to normal , with Chinese on our back , plenty Chinese ,We're did you get that from newsletter? On mobile going the game so no access to computer thanks

[gazza102] 10/1/2015 12:14

if and when they get back let's hope it's run better. I hope they keep the debt to a minimum and learnt from their mistakes which they've been quite a few.

[warwick69] 10/1/2015 11:32

Does Lui mean LOND being merged with AMI as part of new deal ?? Sound a positive if that's case could be a real bounce here beyond all our best expectations ??

[john henry] 10/1/2015 11:08

Chinese have played a very shrewd game and have probably doubled the size of their holding for an amount that in the Long term will be seen as an absolute bargain.

[newswseller] 10/1/2015 11:00

back to normal , means start operating mine , port on full speed 25 M/ year plus 6M Timis ore

[newswseller] 10/1/2015 10:59

More from Liuwell , what heard from Big Guys , that we back to normal , with Chinese on our back , plenty Chinese ,