5 Hello Team, Please find attached staff update for the attention of the general workforce. Kindly share with your respective teams including those on garden leave. MEMO ATTENTION: All Staff FROM: Gibril Bangura, Executive Chairman and Acting Chief Executive Officer Since the Mining Operations were placed in care and maintenance in December last year, we have been in continued negotiations with our internal shareholders regarding the way forward. We will continue to inform you of any changes to these positions as and when they occur. In the meantime, we are closely monitoring some encouraging developments in the downward trends of infection rates in the Ebola crisis across the country. This has been confirmed in a recent nationwide statement by His Excellency the President of Sierra Leone. We therefore remain hopeful of an improved iron ore price on the world market. The company also wishes to thank you all for your continued support and patience while we seek sustainable solutions to our current circumstances. ==END==
From: Gillian Smith on behalf of Alan Watling Sent: 28 January 2015 10:50 To: GRP AM Global Subject: New financial commitments Dear All, In the current extremely difficult financial and operational circumstances of the AML Group, all decisions about new financial commitments (including changes to existing ones) of the Group have to be made carefully taking into account all relevant factors. To ensure that this can be done, all such decisions now require my approval as CEO of AML, and where appropriate I will ensure that these are also referred to the relevant boards of directors. This will ensure that all companies in the Group, and their directors and staff are seen to be acting in the best interests of the companies’ creditors and shareholders This applies to all financial commitments within the Group, including purchasing any materials and services, new contracts or changes to existing contracts, settlements of claims, new employees/contractors or changes to their terms. It applies equally at AML level and Operating Company level (TIOSL and ARPSSL), because AML is the 75% shareholder in these companies. My approval is in addition to any normal management process and approval. Regards, Alan Watling CEO
They invested huge money , they only got 25 % TIO ,, they been ripped of by Timis, Watling others as well
blame f..........ing Watling, Timis , others who run AML like newspaper kiosk
xtw432 transhippers gone , you right , FT bringing barge, tugs from Romania
Yambasu is reported to have received a total of $1.7 million in 4 payments between March 2011 and November 2011. A further unknown amount was also allegedly paid to Ambassador Yambasu at the Country Lodge in Freetown – money which an embittered senior APC official has grumbled, was meant for the Mineral Resources ministry to offset expenses in hosting LUKOIL executives in Sierra Leone.But Ambassador Yambasu’s other activities with the Russians are literally ruffling other friends of President Koroma especially Frank Timis of Africa Minerals whose hold on a massive 20 million tonne iron ore concession is now under threat. After allegedly accepting inducements and incentives in cash running into nearly $185,000 from the Russian company, UC Rusal, Ambassador Yambasu is reported to have arranged a high profile visit of the commercial director of UC Rusal, Mr. Aleksey Gordymov, who is said to have received assurances from the President, the Minister of Mineral Resources (Minkailu Mansaray), and Vice President Sam Sumana.