African Minerals - Re: AMI Stream Log - From: Gillian Smith on behalf...

From: Gillian Smith on behalf of Alan Watling Sent: 20 November 2014 11:38 To: GRP AM Global Subject: Suspension of trading of AML shares To all AML staff and contractors This morning AIM (the London market on which AML shares are traded) has suspended trading in our shares, because we are unable right now to give the market sufficient certainty about a way forward through our current financial difficulties. Whilst we continue to explore various solutions, none of these are currently far enough advanced to provide the assurance that AIM requires. These potential solutions include discussions with Shandong to allow release of the company’s funds in our HK bank accounts, and discussions with Shandong and others about sale of a shareholding in the Tonkolili project to provide longer term funding, irrespective of availability and timing of further external financing. We believe we will be able to achieve one of these solutions and establish a sound corporate and financial structure for the business. Management remains confident that the Tonkolili project, which we have all worked so hard to create, will continue operations, with the committed support of the Government of Sierra Leone, and our employees, contractors and other partners. We expect to release a further announcement to the market later today. Whilst AML is undergoing difficult times due to unpredicted falls in iron ore pricing, you may all be assured your leadership team is expending every effort and resource to facilitate a positive and sustainable outcome for a prosperous future for AML, it’s Contractors, all of the Employees and importantly the people of Sierra Leone. I wish to be very clear and extinguish the rumours of demobilisation for lack of financial abilities to pay salaries and charters. To be very clear the business has sufficient funds to continue to pay salaries to ALL site personnel as well as to continue to provide charter aircraft to move our personnel into and out of Sierra Leone.