African Min. Share Discussion Threads

[seanywauny] 01/2/2015 12:06

Conflicting rumours, if any are true.This $80mln screw up rumour conflicts with the rumour of 3rd party refusal to make an offer due to SISG hostility.If AMI blew $80mln of SISG's cash on the wrong equipment then SISG have every right to act the way they have.It doesn't make sense for the likes of Glencore etc to not get involved for a stake or the whole 75% due to SISG taking strict measures to protect their massive investment.

[shimmysham12] 01/2/2015 07:38

I can see a buyout now, but will share holders get anything back?

[shimmysham12] 01/2/2015 07:07

LSE has gone from doom to 50p share buyout. Its a rollercoaster.

[seanywauny] 31/1/2015 21:53

Well the full setting up cost of the Concentrator alone was around $300mln wasn't it?

[kirk 6] 31/1/2015 21:04

Even if that was true regarding the equipment a deal should and could be done.

[shimmysham12] 31/1/2015 21:03

But as usual its just rumours. Doesn't effect anything. No one knows what will happen. Mot looking good but there still is hope.

[casual47] 31/1/2015 20:50

I struggle to see how any sort of "equipment" can cost 80 million. Even including consultancy etc.

[shimmysham12] 31/1/2015 20:39

Vanished a lot like my investment. Gotta be game over. What a shocking bad investment. Just go into admin and let u move on.

[seanywauny] 31/1/2015 18:06

From LSE:'The primary reason the chinese stopped the funds was that aml blew $80 million of the august funds on the wrong equipment.The desliming that was supposed to lead to better fe was handled disastrously.Aml will certainly cease to be the operator as chalkminer says.GB is the acting ceo and no doubt hopes to keep the job.FT seems to have vanished.'

[seanywauny] 31/1/2015 17:31

Chinese New Year on Thursday Feb 19th.Perhaps nothing until then. They're a superstitious lot.

[earnestwipplethwaiteiii] 31/1/2015 13:09

Ignoring the 'fact' (hah!) that what is presented as fact is, in some cases only hearsay (which would be inadmissible in law), I agree, we are not yet dead, nor has the grave been dug.

[fishyneck] 31/1/2015 12:50

I agree. Nothing there looks terminal to me...

[casual47] 31/1/2015 10:40

Below the 'facts' as posted by Grant79 who was one of the more despondent ones yesterday (one of his posts was "Stitch up coming guys!").

Personally I can't conclude from any of those 'fact' statements that there is going to be a "stitch up" necessarily. I'm actually heartened by the comment on the Bond holders giving AMI more time and especially on FT re. his £200m investment, though perhaps I'm misreading it.

Grant79 post over on LSE today:
"Fact
-SISG should have come back with an offer yesterday - they didn't
-There is a power struggle between AML CEO and TIO CEO
-Third parties are interested but getting involved with SISG is an issue they do not want to involve themselves in
-Bond holders have given the BoD more time to find a solution than send to admin for default on interest
-FT has communicated directly with a investor that his £200m investment is at risk and is trying to resolve the situation
-Marampa has not been thrown into the mix as compensation to SISG £1.5bn"

Unless there are other 'facts' that he/others on LSE are aware of I think for now, for me at least, it's back to business as usual. . . .

[seanywauny] 31/1/2015 10:25

Have a good mind to write to Sky News to suggest that the Chinese are using Ebola aid withdrawal as a threat to acquire Sierra Leone's biggest mine & employer.It's time for the GOSL to act and void the SISG contract.Hesitant to do this perhaps not only because of International business reputation but because the Chinese have got their foot in the door months ago and contributed thousands of Ebola Staff workers and virologists and are still there. (Awfully nice of them wasn't it)Have the Chinese got a gun to the GOSL head here?

[deusfaber] 30/1/2015 20:41

Seany, Think the chinese are just being their usual crafty selves
and the only people who can help us are the GOSL.
With a strong word from them and the chinese will play ball.
It is noted that recent emails have mentioned GOSL and so that could either
be good or bad news for AML.
GOSL will want marampa running too so sooner or later they have to cut a deal.

[deusfaber] 30/1/2015 20:11

FN , you are right it would be that.
The chinese have aml by the balls tho and will not let go till they
get the lot;gosl will give them anything so long as they pump the dosh in
and FT has nothing.
needs a miracle

[fishyneck] 30/1/2015 19:24

So with c300m shares in issue is it correct that AMI needs to have £30m more assets than debt to get us 10p a share back..very simplistic but I'm currently the other side of 4 pints of Guinness!!

[kirk 6] 30/1/2015 19:16

We're we not supposed to find out this last werk

[shimmysham12] 30/1/2015 18:48

I do think this will either end in admin or no share holder value.

However we still have no rns official statements.

There is only rumours and presumptions.

I wish the lse board would calm down. We will all know our positions next week.

I hope for the best but I think we have been screwed.

[seanywauny] 30/1/2015 18:41

Cheers, another handy course of action.However, the one thing on my mind right now is how to get my hands on a few Polonium 210 capsules.;)

[casual47] 30/1/2015 18:05

For those who want to involve the press. . . . a good place to start is Dan McCrum from the Financial Times. He wrote several articles about Frank Timis and his sinister goings-on.

His twitter:

[fishyneck] 30/1/2015 16:24

I am nowhere near clever enough to be able to answer this but rather than chasing everyman and his dog for answers wouldn't it be prudent to ascertain if our assets outweigh our debt therefore protecting some of our shareholder value should admin happen?

I appreciate our assets will be worth what someone is prepared to pay but they must have a nominal value. If for instance we were guaranteed 20p left for shareholders then most of us would be stressing less....I've not read anybodys take on this anywhere but happy to be pointed in the right direction.

fn.

[fishyneck] 30/1/2015 15:59

I think if the board get an offer out over the 10p suspension price then a lot of PI's will take it and move on rather than setting up action groups etc...I certainly haven't the stomach for a fight that would take years and probably result in nothing....