African Min. Share Discussion Threads

[kirk 6] 10/2/2015 07:34

African Minerals Ltd Corporate UpdateSource: UK Regulatory (RNS & others)TIDMAMIRNS Number : 9161VAfrican Minerals Ltd03 November 201403 November 2014African Minerals Limited

[kirk 6] 10/2/2015 07:28

Are they go to resume trading to let people sell? Why where they suspended anyway

[phoenix equity] 10/2/2015 07:23

Terrible news here today. Sorry to all holders.

[kirk 6] 10/2/2015 07:20

75k for me.

[broncowarrior] 10/2/2015 07:17

At least we know. An 8k mistake for me, horrific.

[mallorca 9] 10/2/2015 07:09

So now the shares are worth zero.

[miamisteve] 10/2/2015 03:10

The fall in oil price would have knocked up to $15 off of costs. AMI can be profitable at these levels. The over riding issue is Timis and corporate governance.

[deusfaber] 09/2/2015 19:10

rns will state talks with sisg have failed completely i reckon.
No plans to start up anytime soon as the IO price has to be above $75
for that.The cuts are needed now.
Hopefully they have enough in the kitty to survive long enough and also
patient creditors.

[casual47] 09/2/2015 15:06

Already known news but FWIW:




"After exiting Timis Mining Corp in January 2015, am now enjoying a short break."

[kirk 6] 08/2/2015 22:08

Ps not good news for workers and hope they find other employment. Think the Gosl will step in soon

[kirk 6] 08/2/2015 22:07

Surely it was the only option to reduce staff and cut wages ? Good news as it gives longer to agree a deal and hopefully iron ore price recovery!!

[shimmysham12] 08/2/2015 22:03

LSE gone from 50p per share to guaranteed admin. I think we are all past worrying. What will be will be. Hope all come out of those with something..

[kirk 6] 08/2/2015 22:00

Can't just write them of then and stop being emotional.Most on here would NOT rather get zero and wait months of not years for a potential recovery and start up of operation. The mine is worth huge amounts and admin is NOT an option. Think you are a liability at the moment. Write your money off an move on

[cantrememberthis2] 08/2/2015 21:56

Id rather get zero quicker than this pathetic sulk by ssg n co

[seanywauny] 08/2/2015 21:35

Depends if they've been in touch with several parties who say they'll all be bidding if it goes to admin, as long as the Chinese are outsted for good.

[deusfaber] 08/2/2015 21:31

Cantremember..who says we will get owt in admin.usually nobody gets anything

[seanywauny] 08/2/2015 20:59

Well this is RNS worthy for tomorrow morning isn't it? Hopefully with a little more clarification.

[casual47] 08/2/2015 20:31

Liu resigned and was a foreign (to SL) contractor.

My guess is they are getting rid of all such foreign contractors except for those necessary to maintain C&M.

ARPS foreign workers appear unaffected (because essential for FT/Marampa and paid for already by FT).

Makes sense to me.

[newswseller] 08/2/2015 20:18

Funny watching LSE descend into chaos, so many bipolar folks over there.. Kinda think this is positive, obviously want to try n keep this running for as long as possible just incase a deal can be struck

[casual47] 08/2/2015 20:14

"to whom you are seconded (from AML)"

Looks like they are cutting the workforce from AML, not necessarily the SL workers?

[newswseller] 08/2/2015 19:31

From Liu The Ebola protocol remains at Level 4 status as described in previous communications and the price of iron ore on the world market continues to sit at a historical low. Additionally, Tonkolili operations remain suspended and we expect care and maintenance to continue while we attempt to resolve differences between the shareholders of ARPS and TIO (the "Operating Companies") and source additional funding for the business. At this stage it is unclear if and when a resolution will be reached. Due to the lack of revenue as a result of the operations suspension and placement onto care and maintenance activities and Ebola, the Operating Companies to whom you are seconded (from AML) cannot continue to cover all salary costs indefinitely. In line with the Operating Companies' requirements, the Company's workforce is being restructured to support the current care and maintenance programme, and limited operations for handling Marampa product over the rail and port. In addition we have identified and are retaining a very reduced workforce for a limited period in accordance with our Ebola protocols to be available for re-start of operations if funding is resolved soon.