African Min&Ex Share Discussion Threads

[howdlep] 24/9/2013 16:28

yes I am more than happy for management and pi's to share in the success

[dontshootthemessenger] 24/9/2013 15:59

I'm quite happy to see him incentivised enough through equity as he isn't taking a salary. Unlike many AIM Management he actually has a track record of success in the Resources area BEFORE there was a boom/bubble.

[howdlep] 24/9/2013 15:50

and before deals were put togeher too. So he was very much backing his own ability/money to conclude deals and create significant shareholder value going forward. Indeed the £193k options @ 3p once again adds to the coffers and allows for other assets to be considered

[bam bam rubble] 24/9/2013 15:43

When first read that (a director buy at 44% discount, warrants at 33% discount) thought it was a bit rich, but agreed when share price was around that level so fair enough. Decent wedge too.

[howdlep] 24/9/2013 15:23

Archer £125k investment confimed and a further £193k to come from warrant exercise @ 3p. Excellent news. he is backing his own ability to transform this company. Time for pi's to follow......

African Mining and Exploration plc



("AME" or "the Company")





Results of General Meeting, Issue of Equity and Update re Change of Name



African Mining & Exploration plc (AIM: AME) announces that at the general meeting of the Company held today, all resolutions put to the meeting were duly passed.



Pursuant to the passing of the resolutions, and as previously announced, David Archer, CEO, will make a further investment in the Company of £125,000 for 5,555,556 new ordinary shares in the Company, at a price of £0.0225. As part of the subscription agreement and following the approval of shareholders David Archer will also be issued with the balance of 6,432,888 warrants to subscribe for ordinary shares with an exercise price of £0.03. The warrants have an exercise period of 5 years from the date of issue.



Application will be made for the new Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 30 September 2013. Following Admission, the total number of voting rights in the Company will be 106,435,530 ordinary shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.



Additionally, the Company will change its name to Savannah Resources plc effective on or around 1 October 2013 and will also change its ticker symbol on the London Stock Exchange from "AME" to "SAV" on the same date.

[dontshootthemessenger] 24/9/2013 15:09

Last chance to buy AME

literally

[inbrackets] 24/9/2013 09:35

Thanks, see what you mean and should have thought it through

[dontshootthemessenger] 24/9/2013 09:26

I'd forget about it

too long dated to be of interest

[inbrackets] 24/9/2013 09:11

Am I missing something or adding in some future benefit that isn't really there, but the very good MM article makes no mention of the 1% smelters pure profit fee on the first 300k oz.I know there are a number of variables, price, actual mined resource etc, but if an assumption is made that the Kossanto resource does improve substantially and is then mined, and at a future price of say $1500, would this not equate to another $4.5m say £3m. What's that per share? Mining maths has never been a strong point so any corrective comments would be welcomed.

[howdlep] 23/9/2013 18:27

Looking for a further rise tomorrow.

I see MiningMaven has tweeted again re his earlier analysis. An excellent piece

MiningMaven‏@theminingmaven11m
So our "Two to Watch" for the week ahead $AAU $AME already up 47% + 13% and its only Monday!

[broncowarrior] 23/9/2013 16:03

Just bought another 93k. Up to 250k shares now. That will do for now.

[howdlep] 23/9/2013 11:21

yes indeed. Once the name change goes through I am expecting a lot more publicity for the then SAV, currently AME

[topnotch] 23/9/2013 10:10

Sales going through ABOVE bid price - always a good sign IMHO

[howdlep] 23/9/2013 09:42

not forgetting the £500k Archer has put in.

[dontshootthemessenger] 23/9/2013 09:40

Well now ALO is in the spotlight they can focus on the Malian gold assets and get the value for them that AME deserved.

I'd expect ALO to continue to do well after a little profit taking thus giving AME a nice investment there which can be cashed in at some point to fund the mineral sands project or anything else Archer can bring to the table.

[topnotch] 23/9/2013 09:36

The 4p resistance level needs to be conclusively breached for it to race up to 6p after that it's anybody's guess but 9p would not be unreasonable IMHO

Targets are 13p and 20p in the long run...

[howdlep] 23/9/2013 09:30

it is worth remembering that Mark Jones' (ex CEO AME who has now moved to ALO board) "remaining contractual entitlements will be satisfied primarily through the issue of 2,666,667 new ordinary shares in AME and through the issue of 1,575,000 share options over ordinary shares in AME with an exercise price of 4.62p and an exercise period of five years from the date of grant with the balance payable in cash."

clearly there is going to be news that lifts the share price a long way above 4.62p for those options to be really in the money.....

[dontshootthemessenger] 23/9/2013 09:19

Yes vote tomorrow and then trading the day after.

There is also a big resistance level around 4-6p judging from the chart which might take some busting through but I don't see why this shouldn't be a 20p stock pretty soon to reflect the fact it has funding and potential world class prospects.

[howdlep] 23/9/2013 09:17

this is still going largely unnoticed by pi's unless pi's simply cannot get hold of stock. If so, then mm's are going to have to encourage sellers soon....

[howdlep] 23/9/2013 08:58

not long to wait as AME becomes SAV (Savannah Resources PLC) on 25/9

[dontshootthemessenger] 23/9/2013 08:37

I don't think they will promote this fully until they change name and ticker

It will be waste of effort on their part to promote AME and then have to promote SAV

I'd like to hear more about and from Archer

He seems to have a midas touch

[howdlep] 23/9/2013 08:34

I am looking for a quick move above 4.62p once mm's let this go. Then watch momentum really pickup. Hopefully volume too...

[howdlep] 23/9/2013 08:32

oh and also good to see a CEO put £500k of his personal money in long before the ALO/CEY JV, That shows major confidence in AME's major asset and his use of AME's cash on other pending asset investments

[howdlep] 23/9/2013 08:29

first tickup, this has to catchup the gains of ALO if the mm's can gather any stock. Sooner or later the mm's will have to walk up the share price to fill those buy orders

[howdlep] 23/9/2013 08:14

buys beginning to come through now when the mm's have stock to sell! Its going to be very difficult for pi's to pickup a line of stock. However a great investment opportunity here if you can imo