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I've emailed several times over the last 6 weeks enquiring as to whether or not there is any kind of time line investors can be made aware of regarding a solution to the banking issue but haven't received a single reply. Not even an out-of-office one.
i can't find a telephone number anywhere to call them. Share holders are just not even a consideration for RY - other than when he has to ask us for a vote for something. We've no clue what's going on or even if there is anything going on. Disappointing to put it mildly. At the moment I'm just hoping for an RNS totally out of the blue to say to say 'New bank found - deal finalised'. Sp shoots up. Bingo
My concern is the longer this goes, the greater the threat of loosing the asset.
Valuehunter,
Then I suggest you buy lots. :-)
No brainer Buy levels here in my view
* I DON’t think he’s going to change his mind…
Sviblov is getting a great resource for peanuts. Imo I sing think he’s going to change his mind. Perhaps the longer this goes on the greater the chance another buyer might come along offering more and armed with a ready made solution to the banking hurdle…? Putting a positive spin for once on a fairly duff situation.
They’re probably trying to find a way around the issue, for example, creating a subsidiary in another location that can be used as a cash shell. There is options available, it’s just not a quick fix.
My concern is the longer this goes, there greater the risk of losing the buyer.
This was always going to be a stitch up!
Scandalous from RY, ignoring shareholders.
I think this will take months to sort out, no mainstream bank wants to touch russian money..
Geng you beat me too it. 25% down in 2 days?
Crazy rapid movement into the close - oops!
Maybe RY should ask Paypal? :-)
That’s woeful! Their system doesn’t even realise or recognise Amur is trying to sell itself and is stuck because its CEO doesn’t want to find a bank that can take the $35m until late next autumn - imho. Hilarious really.
https://finance.yahoo.com/news/were-hopeful-amur-minerals-lon-144641682.html
"The good news is that in our view Amur Minerals' cash burn situation gives shareholders real reason for optimism..."
Really great research guys! Time to get a new office bot? :eyeroll:
Oh yes RY needing a close period to not speak to share holders.Made me smile that one.
MD
So RY ignoring all investors. Is it close period?
We probably have $4m in bank, more than enough cash but i would prefer if the directors take a paycut at least till funds have been transferred.
It would be nice if funds get transferred by the end of month now that will be surprise.
Shadowless
So you believe they have a bank but is doing due diligence?
They say they approached multiple banks with regards to transfer the bank could instantly tell them if they transfer from russia.
Jezzac ;)
That being said, my kids write to Santa every year, they always get a reply!! Here's hoping!!!
More chance of getting a reply from Santa Claus. :)
Maestro1
Apologies for the late reply, I have recently contacted AMC via email regarding any updates, Mine Plan deadline concerns, and a plan B/C if the banking solution fails. No response yet.
A response would be nice but don't expect one in a timely manner.
Unlike some, I do believe they have approached banks in response to completing the transaction and the delays are within the banking systems.
If I get a response I will post.
They surely have money till then regardless if KM is sold or not.
Fingers crossed we hear something soon.
Next AGM is Dec 2023. I reckon something might happen by Oct or Nov then as RY will want to keep taking his salary.
Didn’t realise it was a whopping $25k per month. For delivering???
RY he gets close to $300k per annum.
In the rns dated 7 nov, RY stated "With regard to timing, this is dependent upon banking institutions completion of their Know Your Client ("KYC") protocols."
This to me suggest they have a bank, but its been over 9 weeks and still no update, this is scandalous. KYC doesnt take 9 weeks.
Shareholders deserve proper update, nov update was vague.
brookieboy - they don't give a sh.t! How many times do I have to say it RY and the BODs are not aligned with share holders here. They're in for their salaries and it's all about keeping the gravy train moving along. Always has been. Things were very much easier two or three years ago but now times are so challenging people have to realise the chances are they will lose everything. RY will draw this out for as long as possible. The next communication will be an announcement saying they are making progress with the banking issue but it's still unresolved for now. Another 6 months salary. If they can they will take this up to the next AGM when they probably realise the'll be voted out.
I thought RY's monthly salary was $15k?
kwinee
"RY has a substantial stake in AMC."
RY does not have a substantial stake in Amur. Of the 1,392,872,315 shares in issue he has 6,369,318 or approximately 0.457%. That's not substantial and at 1.8p per share represents approximately £114,650. That's just over 5 month annual salary.
We are where we are. Exaggerated claims, no matter in which direction they blow, help little. This is simply a case of bail if you think this is going to result in no sale or sit tight if you do.. Nothing said or done here will impact in the slightest the eventual outcome.
TDT