Aim Res. Share Discussion Threads

[sagem] 23/7/2008 07:47

HERE IS THE STATEMENT FROM OZ;-

Announcement
23 JULY 2008
"AFRICAN FOCUSED RESOURCE COMPANY"
AIM RESOURCES LIMITED
ABN 63 009 193 980
Level 2, Suite 201
80 William Street
Sydney NSW 2011
t 61 2 9357 9000
f 61 2 9332 1336
Website
www.aimresources.com.au
Email
[e-mail]
AIM Resources is listed on the ASX (code: "AIM") and on London's Alternative Investment Market (code: "AIMR")
AIM COMMENCES LEGAL PROCEEDINGS
AIM Resources Limited ("the Company") advises that it has commenced proceedings in the Supreme Court of New South Wales against Mr. Marc Flory, a former managing director of the Company, together with other parties, in respect of alleged breaches of duties while a director of the Company.
Should you require further information please contact:
Bill Cash
Managing Director
Ph: [phone]
Scott Lowe
Chief Executive Officer
Ph: + 61 2 9357 9000
James Moses
Fortbridge Consulting
Ph: 0420 991 574

[sagem] 23/7/2008 06:58

I wonder if they will suspend the share while the legal proceedings takes place,
is that possible we would then be unable to get out if we feel the need. This also could be a buying opportunity as some in OZ are buying big quantities ?

I wonder what these parties are thinking /doing..............

Major Shareholders :
North Sound Legacy 101m
JPMorgan Chase 71m
Simon Nicholas Jones 57m
Frank Brewer 50m
ANZ Nominees Limited 42m
Chase Nom Limited 33m
Chase Nom Limited (CMBL) 25m
Simon Nicholas Jones 23m
HSBC Global Nom (UK) 17m

Total 55% 419m

[drewz] 23/7/2008 02:26

Now what? The unwelcome news just keeps coming with this stock.

ASX RNS out this morning that they have started legal proceedings against Marc Flory for 'alleged breach of duty whilst a director of the company'.

[arja] 22/7/2008 21:39

graze,
I did sell my shares some time ago at quite a loss when chart started to look sick and hoped I might get the chance to re-enter, albeit on oz market where no Mms and only a .1 cent spread . Hence i have kept an eye on it ! good luck to you .

[graze] 22/7/2008 14:05

I agree Arja - we have about a year during which zinc needs to recover and oil needs to fall back.

[arja] 22/7/2008 07:16

at least it held at 3.3 cents in oz . But the directors will keep their hands in the trough for doing s.f.a. and the cash will run out in a year or so ! needs the zinc price to recover fairly quikly .

[graze] 21/7/2008 15:24

Problem is Sagem how long will it be before the price of zinc rises again - the rise so far is miniscule - waiting wouldn't worry me but if the price hasn't risen enough by the time that $15M runs out I fear loss of shirt awaits those of us with no choice now but to hold. I'm not confident either about North Sound coming to the rescue - I think they've staked about £10M and for them that could be just a drop in the ocean. They could have £10M in 100 other small mining companies for all I know so why should they care about AIMR - they'll just write the money off.

[sagem] 21/7/2008 06:47

I am amazed.....Aim Resources UP 6.2% in OZ overnight. Now appear to be buying back in. And let us not forget that ZINC is much used in construction/building industry and the price of Zinc will have its turn and rise from the ashes once again, in fact I am sure its starting to rise a little........MAIN USES OF ZINC AND WE CAN'S DO WITHOUT IT


What are the major uses of Zinc?

The major uses of zinc are:

-anti-corrosion coatings on steel (galvanizing)
-precision components (die casting)
-construction material
-brass
-pharmaceuticals and cosmetics
-micronutrient for humans, animals and plants

[arja] 20/7/2008 14:40

treborite,
Yes, maybe what is in ground is worth something but the cherry pickers will reap the benefit one day and not AIM if it does go into liquidation. So many aussie spec stocks go under but let is hope AIM survives !

[sagem] 19/7/2008 20:55

have they used all this cash they had .....


AIM Resources announces A$25m financing plan for exploration, development
Text Size
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By: Olivia Soraya Spadavecchia
Published on 3rd December 2007
ASX-listed AIM Resources has finalised the details of a revised A$25-million convertible debenture offering, the company reported on Monday.

The company explained that the funds would be used to fund ongoing exploration and development of its Perkoa zinc mine, in Burkina Faso, and other exploration.

AIM has priced, allocated and revised the size of its proposed convertible debenture financing that was initially announced on the November 8.

Under the revised offering, the company would issue A$25-million of convertible debentures that would pay interest of 9,75%, payable semi-annually, and would be convertible into ordinary AIM Resources shares at a price of A$0,22 a share.

In an emailed statement, AIM Resources explained that the debentures would mature in five years plus one day from the closing of the offering.

Westwind Partners is acting as lead agent for a syndicate in respect of the offering and have been granted an option to sell an additional A$7-million of debentures on the same terms as the offering, exercisable at any time prior to 30 days after closing of the offering.

The offering is scheduled to close on or about December 20, 2007.

[arja] 19/7/2008 14:44

Sagem ,
I hate MMs more than you do as they serve no useful purpose and just line their own pockets with wide spreads but also create illiquidity . However, as I have said , the MM quotes in UK only reflect the closing price in OZ unless news announcement after OZ market closes. Anyway, good luck if you hang on but sounds like it will be years before any recovery unlees there is a takeover offer .

[sagem] 19/7/2008 08:57

I am holding onto my share holding, things are not as bad as they seem....just market makers doing what they always do trash shares when things get a little tough.. They still have other mines and B.H.P BILLITON is involved with MUNBA mine.

[treborite] 18/7/2008 13:25

bought a few more, what's in the ground must be worth something one day
high risk and long term!!!!!!!!!!!1111

[j4kes] 18/7/2008 08:00

That is if you trust the "Trade" figures from this site Sagem

[sagem] 18/7/2008 07:53

IN OZ 4590,034 BOUGHT AGAINST 10,136,787 SOLD COULD BE A LOT WORSE

[arja] 18/7/2008 07:39

held up well in OZ bloodbath for resource stocks last night to finish at down .1 cent at 3.2 with bigger volume on buy side at close ( less significant with spec stocks ). Hard for uk holders to exit and re-enter later with MM spread here compared with .1 cent spread in OZ or no spread if you wish to go on at offer price ( just like SETS stocks here but applies to ALL stocks as it should in the ripoff MM system here !!). Good luck to all who still hold stock .

[davidsheila1] 18/7/2008 07:11

My deepest sympathy for all holders, I hope it comes good for you, just glad I got out at 12+ never listen to city equities again.

[dcroston] 17/7/2008 21:19

No view on large stakeholders at all sagem except to say that they too will have made considerable losses on this company just like the rest of us.

I did sell some of these shares but not all of them which means I am left with a hefty loss. I wish I had trusted my gut instinct and sold all. My remaining shares are in the bottom draw, I cant see the share price fall much lower so I'll just wait it out now and hope for a turn in fortunes.

[sagem] 17/7/2008 20:56

dcroston What is your view regarding these large stakeholders. Also we still have potential in the following ;-

The Mumbwa Copper-Gold Project in Zambia is prospective for 'Olympic Dam' style deposits.
AIM Resources is also progressing the Mokopane Nickel-Platinum Project in South Africa and evaluating other projects.

[dcroston] 17/7/2008 20:51

Sagem,

BHP will not put money into a project that has a neg npv which at current zinc prices thats what Perkoa is.

[sagem] 17/7/2008 20:18

dcroston ..Yes I know that but it is still the company AIM RESOURCES. Billiton may decide to help out AIM RESOURCES financially all things are possible.

Also I am sure that these large stake holders will not let AIM RESOURCES GO TO THE WALL. Our investment is safe I HOPE.

Major Shareholders :
North Sound Legacy 101m
JPMorgan Chase 71m
Simon Nicholas Jones 57m
Frank Brewer 50m
ANZ Nominees Limited 42m
Chase Nom Limited 33m
Chase Nom Limited (CMBL) 25m
Simon Nicholas Jones 23m
HSBC Global Nom (UK) 17m

Total 55% 419m

[dcroston] 17/7/2008 19:43

BHP have an interest in Mumbwa, as far as I am aware they dont have an interest in Perkoa Sagem.

[sagem] 17/7/2008 19:27

B.H.P BILLITON always has had an interest in AIM Resources.....I am now
wondering what they think of this situation.....any views