rickyroman
25 Nov 2014
...I think... ......Mone = liu..................both have dreadful English with an Asian slant....or is that the eyes ??
bulltraderpt
25 Nov 2014
Re: Toped up. It could be, wait and see what the next RNS states. Good luck.
Ripley94
25 Nov 2014
Re: Toped up. This is showing as suspended on my acc. just noticed ? "Thought its another lond" is it ?
rickyroman
24 Nov 2014
...Mone786 are you...... ...stew200's brother..........you both seem to have the intellect of an ant............
nomnom
23 Nov 2014
Cape,AMI,Timis and SISG - From LSE bbAll are heavily invested here and all are interlinked here. They either get together a build a really valuable business between them or they are all likely to lose everything in the area. The mines are un-profitable without a single infrastructure at its core to get the IO transported cheaply. AMI underpins it all but needs short term help. The mines on their own would go cheap if not as they fail to meet delivery cost issues. I think they all need to sit down work out what's needed and start to think about a single company with shared assets based on contribution. This could easily be a massive operation with great cost synergies as they share costs. Just need to be sensible rather than play a game of winner takes all as they will more likely all lose out.
nomnom
23 Nov 2014
From LSE bb by drone drone posted:I think FT trapped himself. He don’t have now any other alternative for Marampa to survive than having an agreement with AML. The LOND mining logistical chain has been already dismantled. So now cash flow...... even if some Off takers show face can only be for or via AML logistical chain. So Chinese hold the wheel...And may be now with somebody else under their elbow....The Opex in Marampa, if I compute well, will burn the 20$m in circa 3 months without any cash flow in. And this since November 1.For care and maintenance GoSL made it paramount no stop for Marampa, so I do suspect they issued the same for AML: too tense situation in SL with Ebola to play with this. For hitting the wall: I don’t see AML going under administration: too much stakeholders around and particularly Chinses who have a lot to loose. For Marampa this a very different story an other "pass by » via admin or a change hand at the 11 hours again can well be.If, i say IF, Chinese and FT divorce, than chinese will wave the put option for FT to quit the BoD , this will also improve the last line balance sheet no?? Agreement with Cape will follow Marampa and end up in AML no?Hum ......Interesting isn’t it??---------- ---------- ---------- ---------- ---------- ---------
nomnom
23 Nov 2014
From LSE bb 'FT watch out' You have upset the Chinese this time. If they don't get a fair deal you'll be in trouble. They don't usually forgive and forget. They can destroy you and your family. They can bribe your cooks, gardeners and servants etc. to give you poisons such as radiation, deicer or insecticide.[link]
rickyroman
22 Nov 2014
..SISG contacting them.....not ...the Asian mindset is very different to ours and I would be tempted to give that idea of contacting them a miss.Shandong instigated the removal of Bernie Pryor and the re-installation of Alan Watling as CEO. I am happy to leave him in the driving seat and get on with the job of navigating us out off this impasse.Chinese and European stimulus plans could be the best news at the moment.......lets hold our nerves.
nomnom
21 Nov 2014
From LSE bb We should email Shandong. If they are interested, they should contact our brokers to buy our shares.---------- ---------- ---------- ----Shandong own 25% of AMI at the moment. I don't really know how many shares are in pi hands. 30%? We inform Shandong that we are willing to sell our shares to them at a price ( may be 20p?). I think we are all holding our shares in nominee accounts? Usually, to transfer your shares to somebody you have to hold share certificate ( it is easy to do it, pay broker about £50) . I think we should all email Shandong and ask. What do you guys and girls think?---------- ---------- ---------
nomnom
21 Nov 2014
From Minesite First it was London Mining. Now it looks ominously like London’s neighbour in Sierra Leone African Minerals is also about to go to the wall.The simple cause for both collapses? Iron ore prices hit a five year low this week.Having said that, it’s not quite over for African Minerals. There is US$102 million in restricted cash that could be made available to the company by major Chinese shareholder Shandong, and there is also the lingering presence of the company’s founder Frank Timis, who has been known to be extremely creative when it comes to deal-making.Frank’s already bought up the old London Mining asset, and there was much interest at the time in the manner in which he did it. Not for African Minerals was London’s Marampa asset, once Frank had got hold of it.And now we know why, as if we hadn’t already guessed. African Minerals itself is teetering. So will Frank come to the rescue of African Minerals too? Hard to see how he can do this, especially since African Minerals itself states that it sees no alternative source of funding becoming available, and that structuring a new debt facility is not currently possible.But there are other ways. One highly intelligent industry watcher suggested to Minesite recently that nationalisation by the government of Sierra Leone might be followed by subsequent sale back to Frank.It’s an outlandish idea, but not one that’s completely in the realms of fantasy. After all, Frank’s known to be on very good terms with the government, and there may be some mutual interest there in keeping the Chinese from gaining complete control on the cheap.Because that’s what’s likely to happen if African Minerals stands any chance of getting Shandong to release the restricted cash, as broker SP Angel notes.“We see little reason for Shandong Iron & Steel to pay up for the Tonkolili asset since the restricted cash belongs to them”, said the broker in morning commentary on Friday. “They could in theory take over the whole company and then release their own cash to keep the mine going. The only reason for them not to do this is if they want the operational expertise of the current African Minerals team on the ground.”Investec struck an even more sombre tone. “This reads a lot like death throe convulsions for African Minerals”, it said.[link]
rickyroman
21 Nov 2014
..heavyweight shareholders..... ....its easy to think that we are the only ones concerned with outcome here...but a large chunk of AMI is owned by Prudential, M&G, Capital Group, Blackrock and Northcroft. They have seen the value of their holdings tumble and will, I hope, play a key role in the outcome of this 'stand-of' between the board and SISG.
rickyroman
21 Nov 2014
Mineste...Investec et al.... ....doom gloom and misery......just like Blur's Parklife...'they luv a bit of it'........not interested in the welfare of the workers, whether local suppliers can be paid......Nah, much better headline AMI going same way as London....African Minerals going to the wall....Ebola spreading like wildfire.......I/O prices at 5 year low......bunch of wasters, all of them...
rickyroman
21 Nov 2014
...Grant - I agree...... ....we are the long-suffering shareholders here and many of us have been around for a long-time and seen our stake repeatedly decimated, yet we have still kept the faith. If we don't get a reasonable update and then an 'insider's view' from Danny Forston appears in the Sunday Times, I will be extremely angry. I am sure Alan Watling is a sensible, cautious man and will try to embrace agreement from all parties, but what kicked this off. Everything was hunky dory, the funds were available for draw down and we should have been okay until mid-2015. I find it difficult to believe that FT / AMI were stupid enough to upset their bank-rolling partner SSIG....Why would you do that ??....much better as a team than a disparate band of individual egos. Something triggered the 'stop' from Shandong and we need to know. I cannot afford to lose my investment here and I invested because this was a potential mining giant bringing wealth and prosperity to a former British colony.Investor Relations - I hope you are reading these BB's and passing on our comments to the Board........................
Slow Eddie
20 Nov 2014
Daily Mail ( Reuters) Nov 20 (Reuters) - African Minerals Ltd said it was seeking to sell a part of its stake in the Tonkolili mine in Sierra Leone as it was uncertain when its partner, Shandong Iron and Steel Group, would release $102 million in restricted cash for the project.African Minerals, which is struggling to shore up its finances, said it was unlikely to find alternative sources of funding in the near future.The company, which owns a 75 percent stake in the project, also said on Thursday that structuring a new debt facility with Standard Chartered Bank was not currently possible. (Reporting by Esha Vaish in Bangalore; Editing by Simon Jennings)[link]
Rock on warringah
20 Nov 2014
Re: ...problem is..... It's over for equity holders.
