Intl Min&IN Crp Share Discussion Threads

[nav_mike] 05/6/2016 22:00

Yep and still no accounts filed....even for a private non-PLC company they are well overdue

Basket case

[gheebee] 05/6/2016 19:41

Cooper hasn't hung round to find out. Kanabar has taken over and brought a mate on board. We were doomed from day one....

[gheebee] 05/6/2016 19:38

Has anyone noticed that two of the directors have resigned? Guoping Liu and Cooper both exited on 23 May.

[nav_mike] 10/5/2016 16:23

The only real danger you run is if you are unlucky enough to get your return looked at by HMRC, and they deem what you did was incorrect and deliberate.

They could then look for the tax back plus potentially a penalty and interest.

You would have to be very unlucky as only a very small % of returns get looked at. It is usually errors, tip offs or if your data varies too much from the statistical norm that you get the dreaded enquiry letter.

[stevie blunder] 10/5/2016 15:52

Ok, I see that might work, worth a try if you have other gains to offset.

[horneblower] 10/5/2016 14:38

You can. But the Revenue may query it.
I've done it before with another disastrous investment that lingered on, worthless and untradeable. It worked that time.

[stevie blunder] 10/5/2016 14:35

Unfortunately you can't declare a loss until the inland revenue declares them worthless, which can take years

[horneblower] 10/5/2016 12:50

Tear them up and declare the loss for cgt purposes.

[loafingchard] 10/5/2016 12:10

Noirua , horneblower, anyone ....Has anyone been able to convert their loan notes to imic shares as yet ? And if so how was the number of shares achieved calculated ? As I understand it there is no listing yet on isdx or any other exchange, so do you now hold unlisted shares ?If anyone could shine any light on what is the best course of action for us note holders it would be appreciated .Thank you for your time and efforts .

[loafingchard] 10/5/2016 12:10

Noirua , horneblower, anyone ....Has anyone been able to convert their loan notes to imic shares as yet ? And if so how was the number of shares achieved calculated ? As I understand it there is no listing yet on isdx or any other exchange, so do you now hold unlisted shares ?If anyone could shine any light on what is the best course of action for us note holders it would be appreciated .Thank you for your time and efforts .

[noirua] 18/4/2016 13:27

Not expecting any news until June. Not very confident of outcome but may surprise.

[ridicule] 15/4/2016 08:11

Any action since 6 Apr Noirua?

[gheebee] 07/4/2016 23:13

Arrium has just appointed Administrators I see.

As for illegality or otherwise, the point is that it was put to the vote and shareholders accepted the deal. That said, I remain to this day amazed that anyone expected anything else other than a stitch up when IMIC was headed up by Cooper and Afferro by a puppet of Pas. It's not as if they didn't know each other intimately from Afren and Mano River Resources is it.

[horneblower] 06/4/2016 12:52

I was talking to a guy who used to work for AIM (in marketing). He was astonished that AFF had agreed a takeover where directors got a better deal than shareholders. He said the fact that the co was Canadian registered is irrelevant. It was in his opinion an illegal transaction.

[noirua] 06/4/2016 12:34

IMIC stock listed as 'INTER MIN & INFA INTERIM' by TDD (TDW). - as I've notified wishing to convert. However, IMIC have several options or routes they can take - interesting to see how they move next.

[noirua] 06/4/2016 12:28

Arrium at the cliff edge

[diesel] 25/3/2016 10:48

HB, exactly, smoke and mirrors, it clearly should be illegal but in any way totally immoral and I will not invest in any company with any of the ex board involved.

[horneblower] 25/3/2016 09:01

Noirua,
I'm not sure I go along with that.
What anyone paid for their shares is irrelevant.
The fact that the iron ore market collapsed subsequently is irrelevant.
The "value" of the shares at the time was that which the directors accepted, and which was a fair valuation.
The problem is that they got paid fully in cash and we shareholders got paid only half in cash and half in underwater loan-notes.
Yes, they were underwater at the time. The company already had more loans out than they could ever repay.
Why the differential payments were not illegal, as in most normal markets, I have yet to comprehend.

[woodpeckers] 25/3/2016 08:15

Thanks guys. I certainly wasn't informed by Barclays, a bit poor. As you say though allstar, not sure it really matters!

[allstar_07] 25/3/2016 08:06

Woody - I also have some in iii and have heard nothing from them! Guess it doesn't matter at the moment!

[noirua] 24/3/2016 12:04

Most Afferro shareholders bought below 80p and came out with a profit on the cash part of the bid. The IMIC Loan stock was really something thrown in with speculative value somewhere down the line. The iron ore price has seen the crumbling of many great companies in the sector.

China's iron ore is low grade with many contaminates and therefore expensive to produce. The Cameroon iron ore varies between low grade and high grade and is in soft soil and therefore low cost at the mine face. Infrastructure has been the costly factor and Chinese companies have major interests in that.

IMIC are playing the 2018 to 2021 card here and expecting a boom from 2018 as low cost oil and other commodities start a boom worldwide. Might not happen, and then that's is the gamble here, a riches to poor house punt.

[noirua] 23/3/2016 21:44

Having phoned three brokers only TD Direct appear to be on the ball. They deal direct and you have until 29th March to vote.

Barclays and Hargreaves Lansdowne say they notified shareholders in January and holders had until 8th March to notify them if they wished to convert. No reminder or online form was notified.

[ianbrewster] 23/3/2016 16:40

I don't think we can convert until there is a listing.

IMIC committed to maintaining a listing for the period of the extended note, but don't seem to have managed yet!