African Min. Share Discussion Threads

[kirk 6] 17/2/2015 11:47

Bronco - No the board have probably offloaded and shorted against the share price and hedged all of their positions.

Read the presendation from August and all the rns's. This is a minor blip on iron ore price and will recover shortly. If a huge mining company can not get through periods of lower iron ore price in the scheme of things that in itself is incompetiance. However it looks more like the company has been rigged to fail.

[seanywauny] 17/2/2015 11:43

Some posters on the LSE board defending the actions of the BOD today as well all of a sudden.Pmsl, it stinks like Timis.

[casual47] 17/2/2015 11:42

I think I explained it sufficiently.

[broncowarrior] 17/2/2015 11:37

Pls explain.

[casual47] 17/2/2015 11:33

Both FT and Gibril have deep political interests in SL and the wider West African region. Gibril especially as unlike FT he actually lives in SL and may even have presidential ambitions.

In all likelihood Gibril will want to continue operating the mine as CEO under whatever ownership it falls and FT will want to salvage his Marampa investment (rail use) and save/maintain his reputation for his other interests in the region.

Murray John is an employee of a subsidiary of Dundee Corporation -- they hold bonds worth many times whatever shareholding he or his company has. If shafting PIs means he gets money back from bonds that might be his objective.

[casual47] 17/2/2015 11:26

Bronco, most of the BOD have vested interests in AMI outside of their shareholding and that vested interest is probably worth a lot more to them than what their shares tally up to.

[broncowarrior] 17/2/2015 11:11

Good luck Seany.
What false news?
all of the board are significant shareholders so should they be suing themselves as well?
Delusional.

[earnestwipplethwaiteiii] 17/2/2015 11:04

Bronco - you may be right ultimately and the body may be on the slab but the doctor has not yet certified that there are no vital signs.

[broncowarrior] 17/2/2015 10:24

Nothing, it is a dead investment. Nothing untoward in my view, board tried their best but the perfect storm of horrendous IO prices at an early stage of their development where they had a lot of debt to service, ebola and an uncooperative partner meant curtains.

Trying to blame the board for this is doomed to fail in my view.

[kirk 6] 16/2/2015 20:01

Why what do you propose we do oh wise one?

[broncowarrior] 16/2/2015 18:41

Activist group - nonsense.

[casual47] 16/2/2015 17:20

Interesting reply:

====
I don't think that it would be appropriate at this time, as the communication process remains formal and at this stage there is still much work to do as a Director.
Murray
====

Still much work to do as a Director. . .intriguing!

[casual47] 16/2/2015 16:59

Replied to his email and suggested he join the PI activist group organised by Grant79 @ [e-mail] Ha!

[casual47] 16/2/2015 16:05

Reply from William Murray John:

For the record, it's Murray, I'm also a shareholder and private investor in the Company and share your pain at the demise of the Company. I and (I believe my fellow) non Executive Directors will continue represent the shareholders as practicable given to he current process.

Murray John

[casual47] 16/2/2015 15:06

Anyone have the email address for Roger Liddell?

Looks like these landed in the inbox:

William Murray John - [e-mail]
Nina Shapiro - [e-mail]

[casual47] 16/2/2015 14:22

"There is no legal distinction between executive and nonexecutive directors. As a consequence, in the UK unitary board structure, non-executive directors have the same legal duties, responsibilities and potential liabilities as their executive counterparts. Clearly, it is appreciated that nonexecutive directors cannot give the same continuous attention to the business of the company. However, it is important that they show the same commitment to its success as their executive colleagues. It follows that nonexecutive directors are subject to the codified duties of directors contained in the Companies Act 2006 in the same way as executive directors."

[casual47] 16/2/2015 14:13

Sent same email to [e-mail] (William Murray John Non-Executive Director)

[casual47] 16/2/2015 14:02

Nina Shapiro -- the first two bounced. The NRSpartners.com one didn't.....yet.

This is what I sent:

Hi Nina,

I am a private investor in African Minerals.

It is with increasing incredulity that I and many other private investors are seeing the steady demise of this once great company.

In your role as African Minerals Non-Executive Independent Director, can we be assured of your continued commitment to represent shareholders and safeguard shareholder value as per the codified duties (and liabilities) of directors contained in the Companies Act 2006 (UK)?

Looking forward to your response,

[earnestwipplethwaiteiii] 16/2/2015 14:00

Seany - if you told them your Granny's dying and you need a new motor and what are you going to do for heating this winter, you're too late, I already did that.

[seanywauny] 16/2/2015 13:36

No email bounced back yet so all went through. No read receipt and I'd rather not share what I sent if that's ok as it was more a personal plea.I think it reads better to have individual stories as opposed to a copied template that everyone sends.It's 21.37 over in Jinan Province so I wouldn't expect a reply today.

[casual47] 16/2/2015 13:32

Perhaps one of these will land:

[e-mail]
[e-mail]
[e-mail]

[casual47] 16/2/2015 13:25

Maybe remove [e-mail] as looks like he is an AMI employee (treasury manager)

So no email bounced? Did you put a read/delivery receipt? Can you post what you wrote?

[earnestwipplethwaiteiii] 16/2/2015 13:25

begger's English is certainly bad enough, he can't even spell beggar.