African Min. Share Discussion Threads

[casual47] 26/1/2015 16:13

Interesting.

Not sure it is very clever of AW to say the below to an outsider while negotiations are taking place

"The proposal ssig originally offered is worth next to nothing for all who have stakes in ami"

Doesn't exactly send the right kind of signal to the "other parties" -- they won't be in a hurry to put a high bid in if so

[newswseller] 26/1/2015 16:06

from LSE (take with a pinch of salt)

Quick post as I am stacked in Work, spoke to AW just got back from HK. The proposal ssig originally offered is worth next to nothing for all who have stakes in ami. Alan has gone back with a new proposal to ssig and would not disclose understandably, what this was but said they will respond by the end of the week. He mentioned there is a big interest from other parties which he utilising just in case ssig do not improve. I suggested admin would be better for involved to which he agreed. They are sticking with ssig at present but they have to play ball (seems more like ami are in command) Just a game of cat & mouse absolutely no way this is going into admin IMHO no one wants it. Nothing other to add other than the other parties are much more prevalent than before.

[lightfield] 26/1/2015 13:10

o/t AFR reversing. Fallen from £1.70 to 19p.

On the move north now.

[casual47] 26/1/2015 13:10

Earnest -- Yes, this share has more twists and turns than a twisty turny thingy. The political shenanigans aspect of it makes it impossible for any outsiders to predict the outcome of this and I would even wager that also goes for SISG. AMI is not the sum of its parts: Mine, rail, debts, cash, etc. It is so much bigger. I see it as a physical limb of the body that is the state of Sierra Leone with Frank Timis and Gibril Bangura solidly fused into its nervous and circulatory system. This is, I think, why SISG had FT being on the BOD as one of its conditions. I suspect it's why there has been no hostile takeover bid so far.

You mentioned earlier there seemed to be a 10p support prior to suspension. If you were to think of it in bookmaker terms then that could imply the post suspension price of "scenario: no admin" is many multiples of this (£1) or it could imply this is a fair price for a fire sale of the company in "scenario: admin".

[earnestwipplethwaiteiii] 26/1/2015 11:33

casual - thanks for a little perspective; over on LSE there are some people working themselves and each other into a lather over what may or may not be true. I'm sure most of the anger is born of frustration and impotence that we all feel after more than two months of suspension and seemingly little progress, but at least we are still talking and in with a chance of salvaging something.

deus - we don't know that for sure - any negotiations with third parties would by their nature be highly confidential, and it would be quite usual not to know the identity of such parties.

[deusfaber] 26/1/2015 11:31

Article is old but it shows how many powerful contacts Frank timis has.
Tony sage should be able to put him in touch with other major money players too.Why is it only SISG at the table??makes nay sense to me.

[casual47] 26/1/2015 11:12

Looks like "poor" old Nina is getting a lot of flack over on the LSE board.

Personally I think she's a stellar addition to the board. Not many companies can claim to have a former senior executive of the United Nation's World Bank on their board (she was former Vice President Finance and Treasurer of the World Bank Group’s International Finance Corporation). I imagine she brought a lot contacts with her. The United Nations and the World Bank are significant and esteemed players in emerging markets like West Africa so her address book alone would have been worth whatever they paid her, imo.

As to fancy hotels and first class flights . . . that is the way of the world. I make no bones about it.

After all these weeks of speculation all we know is still the same:

1. Talks are on-going
2. The BOD have put their money where their mouth is re. shareholding, with FT etc major shareholders, which can only be a positive
3. Our assets (mine, rail infrastructure) are safe and secure
4. Local work force is getting paid so are not bound to start a riot or start looting

[fishyneck] 26/1/2015 10:21

Last few words of the article......"Simply put; he is a man who delivers" Lets see....

fn

[seanywauny] 26/1/2015 10:12

Be honest, who had to Google hagiography? :)

[earnestwipplethwaiteiii] 26/1/2015 00:12

Not directly, but this is not the first recent newspaper article from West Africa lauding Timis the Bold's humanitarianism and philanthropy. It borders on hagiography and the intention seems to be to demonstrate how highly our Leader is regarded in the region - perhaps in contrast to certain other people who might want a slice of the natural resources pie.

[warwick69] 25/1/2015 23:57

Got nothing to so with AMI though

[kirk 6] 25/1/2015 20:58

Fantastic news in that article re infrastructure

[shimmysham12] 25/1/2015 19:02

I just want to know the outcome. Getting fed up with reading lse, it's like a roller coaster ride. I accept if I have lost but just tired of worrying about the outcome.

Cant believe we have been sucked in by the bod for so long. Feel like a right mug.

[kirk 6] 25/1/2015 17:39

What about the pice of oil falling so much must have a positive impact on African minerals to the tune of 6-8$ per tonne surely?Ebola is now improving considerably as well

[fishyneck] 25/1/2015 11:30

I'm personally happy for them to take as long as they need to give us the result we want! Don't see the point in rushing them! Another month or so and Ebola shouldn't be a major issue, shame IO prices not rebounding at all.

[shimmysham12] 25/1/2015 10:55

Dear mr timis.

Sort this out either way and let us move on. We need to know this week. Please!

[kirk 6] 23/1/2015 16:08

is there news out

[earnestwipplethwaiteiii] 22/1/2015 23:45

The feeling seems to be that, if Marampa ore can be blended with Tonko's, the expense of the concentrator could be deferred, given the situation.

[deusfaber] 22/1/2015 23:10

good question seany, think the guys on lse are more knowledgeable than us...ask them if you have an account.

[seanywauny] 22/1/2015 22:51

If we get out of this alive & kicking could the concentrator be up & running by Summer?

[kirk 6] 22/1/2015 21:40

Nothing to report today them! Other than AW in Hong Kong trying to negotiate a deal

[kirk 6] 21/1/2015 19:29

That email was from lse I never sent or revived that so not my doing. I have in the past emailed Alan and normally had good feedback.There is no point bombarding the bod atm

[wooster4] 21/1/2015 18:09

too true - problem is the one who buys when all are quaking can get the deal of the century since no-one else is interested (or too scared). Still hopeful of some sort of reasonable outcome.

[earnestwipplethwaiteiii] 21/1/2015 18:03

Wooster - ahah! The man who buys when all around him quake in fear, his is the palace on the hill!