Amara Share Discussion Threads

[darcon] 15/8/2016 08:16

amargosa - it depends on what SL's mining legislation allows them to do. There may be change of control provisions which the SL minister has taken advantage of. Other companies contemplating acquisitions of SL mining assets will need to tread warily. To me this looks like a very short sighted action by the minister involved

[medved5] 15/8/2016 08:14

Amara worth Nothing

[amargosa] 15/8/2016 07:55

This is a shocker, esp for former AMA shareholders - the former flagship, and effing tens of millions down the drain!

The SL Mines Minister cannot be serious - if a project is not economically viable, then it has to sit there until it is, anything else is just nationalisation. SL could just have shot itself in the foot.

-- Perseus has been advised by the Sierra Leone National Minerals Agency
that the Minister for Mines and Mineral Resources has cancelled Mineral
Right ML 02/08 on which the Baomahun gold deposit is located. This
action has been taken following Perseus's advice to the Minerals
Advisory Board that development of the Baomahun Gold Project as defined
by Amara Mining plc, which was acquired by Perseus in April 2016, is not
economically feasible at current gold prices and that further
exploration success and a positive feasibility study would be required
before Perseus could consider committing to development.

[rogsim] 15/8/2016 06:50

I can remember when Baomahun was the flagship project of Cluff Gold. Note the spelling in Perseus' sub-heading:

[amargosa] 11/7/2016 08:15

Looked at the new PRU investor presentation - Baomahun doesn't even feature - all that money Cluff spent on that - value destruction, squared.

[amargosa] 09/7/2016 18:36

Sequoia, thanks for that, I understand now. Possible to do it in a dealing acct, but not an ISA, so you have to decide if it's worth it to lose the ISA wrapper.

[sequoia] 09/7/2016 14:00

amargosa you can cross border your shares, I have done so in my trading account but not in my ISA account,I thought one payment would cover both accounts, the international rights issue was only offered in the one account and not the other.

[amargosa] 09/7/2016 07:48

Unless there is some way of getting registration of existing shares in Aus or NZ, then I'm not sure how UK shareholders can subscribe for the RI.

[sequoia] 08/7/2016 20:36

RI rights issue.
As the warrants I will buy and sell much higher, time and gold wait`s for no man,
I think the saying goes something like that?

[amargosa] 08/7/2016 20:13

Rights or warrants?

[sequoia] 08/7/2016 20:00

On the strength of the quaterly update I will be taking my RI.

[miamisteve] 08/7/2016 14:42

Will be taking the shares up as well, as the rights cannot be sold or transferred.

The effective way to sell them of course is to take up the rights and sell now.

Would be throwing money away not to.

[gekks] 08/7/2016 08:21

Im taking the shares up - Barclays setup International Trader account for free and transfer shares into their.

[onedayrodders] 06/7/2016 15:10

Warrants well in the money .. anyone considering exercising and taking the shares up ?

[dumbo4] 06/7/2016 07:22

Guys. I have a few AMA in my ISA in TD (Old Natwest). There is no entry for PRU in my account now nor for the warrants, although my account was debited for the cost of the warrants on 28 June. Is this normal ? In truth, I don't understand any of it ! Thanks.

[edjge2] 05/7/2016 20:33

built up pru to old level rights show as nil value.They'd trade if listed here.

[miamisteve] 04/7/2016 04:44

With the placing overhang out of the way, Perseus stock is rebounding nicely.

[morro] 02/7/2016 09:32

Sequoia are you based in the UK? With the price breaking clear of the 50c level it would have been a no-brainer for UK shareholders if they had been given the chance to buy.

[sequoia] 02/7/2016 06:31

Morro yes 50c Au up until 11th July to give them time to execute 15th is cut off date if I remember right! They are listed around the 26th July.
Warrants are available for three years at 44c Au. Gold is 1341.9$

[morro] 01/7/2016 19:58

Sequoia you were able to subscribe for the new shares on offer at 50c?

[sequoia] 30/6/2016 14:30

International rights issue are now in my TDW account, well one of them the other account has not been "cross bordered" they want me to pay twice, put in a complaint but they have not got back to me yet.

[darcon] 26/6/2016 08:39

Medved5 - where on the Internet is the source of your statement?

Worst case scenario is that AMA pays BCM US$14 million + interest in settlement of all BCM's claims.

Like I wrote before, BCM isn't in a position to unwind the merger with PRU.

[medved5] 26/6/2016 08:13

BCM contests the validity of the agreement Amara Mining plc (AMA:LON) entered into with Perseus Mining (PRU:TSE ; PRU: ASX) recently and seeks to continue its fight in pursuing assets as compensation for the losses the Company has suffered with respect to Amara’s actions.
BCM is surprised that the Board of a constituent company of AIM laying claim to the highest standards of governance, transparency and propriety could have approved a transaction of this nature with such a controversial provenance.