African Minerals Forum

We have two II on board with us to take legal action. I'm not allowed to say who they are.

Also the stated value for London Mining's property, plant & equipment was usd 497 Mn and total obligations was usd 338.8 so it's no surprise that even creditors had to take a haircut during liquidation. In the case of AML total obligations (including payables) amount to usd 1 Bn and PP&E is valued at usd 2.4 Bn. So even at a fire sale I still think there should be something left for us

Has anyone tried to reach any of these investors to find out if they are taking any actions? I'm also wondering how China Railway Feels about getting their stake wiped out in the worst case scenario. Wouldn't surprise me if they became a potential bidder

M&G Investment management 12.05% (England), Capital Research Global Investment 6.93% (US), Northcroft Trading 6.54% (Switzerland), bangura 2.35% (UK), ING Investment 1.61% (Netherlands), Franklin Templeton 1.61% (Canada)

FT 12.74%, China Railway 12.44%,

AMI's ownership before share suspension was:

SISG and SL government are very keen to restart Tonkolili mine. But we need other interested parties to bid AMI assets so that we get a affair value for our shares from whoever buy the assets.

Or they may choose to set up a newCo, purchase all the assets and move them to newCo, so I'm crossing my fingers for this scenario to take place and that the assets get valued at a fair price

I guess begger brought the point that I've been fearing the most. That SGIS and other lenders decide to convert the debt into equity and continue working with the mine. If this happens the dilution would almost wipe out our ownership stake and value of our holdings

Begger, if I'm not wrong AML's bonds were convertible, meaning that bondholders could convert their debt into AML equity. It wouldn't be a bad idea for the sake of lowering AML's financial burdens if they were to convert into equity. However, that'd would likely dilute all shareholders' share meaning that we would own lower percentage stake