Angel Mining Share Discussion Threads

[12bn] 14/2/2013 09:16

The 'promised land' will be reached by Cyrus but present ANGM holders will get little.Cyrus will get 75% of BAM imo,which one day will produce good profits.ANGM will be left with 25% of BAM,$15m-$20m of debts,a massive dilution at very low price and Socius/SEDA tap/AN Other finance.There will be hype about future mega profits from Nalunaq and maybe a deal with Nuna but beware of shares issued like confetti and ultimately a share consolidation.Ofcourse administration is also a possibility but I think Cyrus is more interested in keeping ANGM afloat to do the donkey work with BAM and Nalunaq while repaying them out of any good gold pour profits.(Also Cyrus will get help with funding BAM development costs via Socius/SEDA taps/AN Other placings at PIs cost).

[12bn] 12/2/2013 15:30

IMO ANGM will come back from suspension after doing a deal with Cyrus, whereby Cyrus gets atleast 75% of Arctic Mining for $10-$15m of debt reduction.ANGM will also have done a massive placing in the 0.2p-0.3p region for extra funds.Just my opinion but it is a better result than just going into administration.ANGM will make positive noises about the pillars and possibly the gold find on the other side of Nalunaq mountain but becareful of the hype.

[mark of the rushes] 12/2/2013 15:20

You and me both Toon.

[goooba769] 12/2/2013 07:15

One board member out for a JV member maybe.
Creditor sounds happy to sign repayment plan so that's the suspension sorted soon.
Next up is pillar pour news and what happens to BAM when we can't pay Cyrus on the 15th. Although as we are in suspension I wonder if Cyrus have to wait until the 20th now before doing anything

[marmar80] 11/2/2013 21:45

RE: Resignation of a Director
Frank Chapman yesterday resigned as a Director of the Company with immediate effect.

And this is what the official company web says:
Francis (Frank) Chapman, Non-executive Chairman.

Frank is currently chief executive officer of London Capital Group plc, the AIM-quoted trading services company, having joined the board of that company in October 2003 and was appointed managing director in May 2004. He has over 30 years" experience in the London derivative and FX markets, having previously been a director or managing director of a number of companies including London Investment Trust, Baring Securities, Deutsche Morgan Grenfell and Amerex Petroleum. Frank was previously a non-executive director of Angel Mining but stepped down from the board in June 2008 to progress his other business interests.

Dont understand this resignation today..?

[futhark] 11/2/2013 12:42

("Angel Mining" or the "Company")

Shareholder Update

Angel Mining plc, the Greenland-focused mining and exploration company, provides shareholders with the following update:

As previously announced on 24 January 2013 the Company had filed an intention to appoint an administrator both for the Company and its principal operating subsidiary, Arctic Mining Ltd. This filing provided the Company and Arctic Mining Ltd with a period of protection during which no legal action could be taken, within the UK, against either of the two companies. This notice of intention expired on 06 February 2013. The Company has now filed a new notice of intention which extends the period of protection for another ten business days until 20 February 2013.

Negotiations with the companies' principal trading creditors are on-going and the directors hope to have formal agreements in place by mid-February. The Company also continues to work with Cyrus Capital Partners LP to explore financing and restructuring options.

Resignation of a Director
Frank Chapman yesterday resigned as a Director of the Company with immediate effect.

[12bn] 11/2/2013 12:15

RNS out,director resignation,extension of time before administration and on-going negotiations with Cyrus.

[equitydealer007] 10/2/2013 20:32

I can see this coming back shortly! some rescue package will be put together....probs shafting existing shareholders...but I think it will carry on for a bit longer. I shall wait for the rns and see if there is a turn to take on the spike when it returns/if it returns....but i'd certainly not be leaving money in if I do!!!

[storming norm] 10/2/2013 19:40

anyone confirm that angel have now gone burst

[layer cake] 08/2/2013 17:16

ANGM ON LIST
Does this apply here ?



"Times are tough for miners - but they're about to get a lot tougher. The head of a

[reallyrich] 07/2/2013 12:43

its not 2 weeks, it is a lot longer than that

[mds2028] 07/2/2013 09:20

not sure that two unexplained missing weeks of production could be sensitive in the discussion over debt, and that is now the focus. Our debt pile is drowning us and we will need a huge amount of more debt to advance the real price as the gold mine is a side show. I am afraid although he is annoying in his repetition gd may be close with dilution and giving up some BAM would seem the best result we could look to have.
Very worrying NH hasn't replied to you, that probably says more about the real situation of the gold mine compared to the fluff and stuff words making out its going to be commercially viable.
tick tock this time next week we will know where we go...

[gb234] 06/2/2013 14:09

When it comes to ANGM JAF those three words are more than you ever have done. :)

[jaf1948] 06/2/2013 14:01

I question your first three words.

[jaf1948] 06/2/2013 14:01

Or perhaps it's very sensitive information as part of the ongoing discussions. In other words, we don't know.

[gb234] 06/2/2013 13:49

I still think ANGM will return to try and fleece holders out of more cash yet.I expect massive dilution and Arctic mining given to Cyrus for say $10m-$15m of the $30m debt.The massively diluted ANGM will then return to trading.