African Minerals - AMI Stream Log

I would have thought that before that can happen, there needs to be a court hearing or arbitration to decide how much of AML's 75% has to be passed to SISG to cover the debt of $167M. Whatever is left for AML after that would surely be open to offers?

I get the feeling SISG will end up going for a tender offer. They are fighting to avoid liquidation which means they want to keep the mine. The only way they can get the entire mine is that they do a tender. There's no other way they can take our shares

I agree, with iron ore prices at this new low perhaps it wouldn't be best to liquidate all assets at this point... A fire sale just like the one from londong mining would wipe out all equity and even force lenders into a debt haircut

millsm, that's exactly what I'm trying to figure here. Has it been announced officially that they have taken over our shares? The only way I can see this happening is that they liquidate all assets and SIGS buys them (which means that shareholders would have to get paid USD 1.3 Bn) or they would have start operations and do a tender offer to buy our shares (for which we should all agree to tender at a fair value). Otherwise, I don't see how they could have a claim on our stake on the company

Good to hear from you again Liu. Are you able to find out what IO is being shipped out from Pepel at the moment , is it from Marampa?

as Gibril Bangura announced, Only 2 flags left in Pepel , Sierra Leone and China ,

Think Chinese will start april with mine and port ,

Superman, by looking at the statements AIM's assets were worth above USD 2 Bn and debt was above USD 700 Mn. Considering the sluggish prices on iron ore, I'm sure those assets could not be sold at the stated value. However, if the administrators were to do an open bidding for the assets; we should be able to maximize the value of our shares. What I'm very worried about is that the liquidation takes place with close doors and the assets get sold at pennies for the dollar. In this case, I'd more than happy to go on full legal battle

4unme, I'm absolutely not in favor of AIM's BOD and much less on SISG. It's quite evident that SISG is seeking to obtain the assets for pennies on the dollar. I've myself placed a good portion of my savings on this company on the hopes that it would be going concern with its management and BOD doing the right thing but that clearly wasn't the case (Timis' acquisition of London mines' assets made it quite clear). All I was trying to figure was to find out more about the goal of this lawsuit since I'm new to this forum.

What are we exactly seeking for in this class action. Also forgive my ignorance on the subject but my understanding is that the company is going into administration, meaning that a third party should be appointed to either; try to manage the company back until it stays afloat or it liquidates all of its assets and use it's proceeds to repay back it's creditors first and foremost and then it's shareholders. Given that it's supposedly appointing an administrator my question is if a lawsuit should be brought at this stage.