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TDT - RY supported the deal on offer. The share holders voted against. Seems pretty clear to me he’s out of step with the share holders then. There was a vote. He voted one way, the majority of share holders voted the other. He’s therefore not aligned with the majority of share holders. Fact. Or did that vote not happen yesterday & it’s all in my imagination? He voted one way and told us all to vote in support too but we didn’t. Not sure it could be any clearer.
It's a pretty certain opinion to be fair
"The BoD are NOT aligned with share holders. This statement is fact. "
No it's not, it's an opinion.
TDT
Robin Young ......
I have met him in person, and yes he comes across very genuine
I have never criticised him, but i do now feel he has let us down extremely to say the least. I truly believe more in the Asset to bring us value to our investment than Robin Young
Even though I'm so disappointed with him I do not believe getting rid of him is the right thing to do, he has been the poster boy for Amc in Russia, he is familiar with the Authorities in Russia, by now he has a good knowledge of how everything works in that part of the world, he's been involved in all the meetings that's taken place over the years with various companies and financial institutions including in Russia, china, Japan, Uk etc,
I believe he's very much liked by the locals in Russia, he's face is the one everyone knows when we talk about Amc and in the current climate with everything going on around us i believe we need him to get us over the line.
I remember Robin Young saying in a meeting many years back, he see's this project as his baby, taking it through all the stages and eventually taking it into production. He has put a lot time and effort into this project and i do not believe for a minute he would want to see this come to nothing. He doesn't hold a huge amount shares so if this fails he doesn't get a huge amount of money back for the years of hard work he has put into this project.
I know we criticise him about the lack of effort his put in but Siberia isn't anything like Florida.
One thing for sure after this recent incident I'm sure Robin Young is very aware that we shareholders won't be taken for a ride.
We have a great Asset worth Billions of $ unfortunately the circumstances we find ourselves in right now does not reflect that value, but saying that there's still a value to this Asset, and a fair value is what we want and if that can not be delivered to us shareholders then be it, we take it into the ground with Robin Young with us, but we do not give it away for peanuts...
Does anyone have an estimate of what the cash balance might currently be after we got the money back from the loan for Roper Bar project?
We were lucky we managed to get the money back for that as it’s now in care and maintenance. Also good we hadn’t invested more into it when we were given the option to do so.
It is unacceptable that the TEO hasn’t yet been released even though it’s now going to be imminently released according to others reports from the meeting yesterday.
@PP the price bounced around from 3p to 10 for a few years and my average back then after a few averaging down moves was 3.5p i held through Crimea and sold in tranches 15p, 28p, 33p and my last sell was 42p. At 44p the idiots were talking about the mythical £1 which as we know was dreamland. When i found out that a lot of LTHs didnt take money off the table i was gobsmacked and i still am. But here we are again and hopefully RY can pull a rabbit out of the bag.
I think I’ve already said.
“ maybe like others I was taken in”
" why didn't you sell when sp went up to 44 p "
Unfortunately, that question / decision torments many of us here
Bog off Roger.
gil... why didnt you sell when SP went up to 44p ??
Roger. What you say is sadly right. I used to go to the Proactive One 2 One meetings at the Chesterfield Mayfair Hotel for years. Maybe like others I was taken in. He would hold the room. Make convincing statements. A year later I would look at my notes and nothing had happened. That’s why I stopped going. Two and a half p gets me out and I will be lucky to get that. I will be glad to be gone. I have utter contempt for the way he has run the company for past 12 years or so I’ve been invested.
Perhaps the BOD and some other major ones deliberately didn’t. They would have known the result of the PI’s who did vote before the meeting and just kept their powder dry for another day?
Very strange situation is if it was just apathy amongst the majority at this stage
…are NOT aligned with share holders. This statement is fact. This is now perfectly clear or else RY would not have proposed accepting the deal knowing we would most likely end up with nothing but he would get his salary for years to come. He’s in it for himself, not us. We have no one else to take over at the moment though so we just have to hope and pray he feels he’s been rumbled and will either a) actually pull his finger out and think about what is best for the share holders from this point onwards or b) push off and make way for someone who might, just might, give a sh..t about ordinary share holders. It could absolutely be a case of better the devil you do know though.
What ever, it’s just your typical AIM sham of a BOD. Sadly it’s the only one AMC has.
perhaps the majority of the other 75% of Retail could not be bothered.....
That is the question TDT, but I definitely think they should go and something else put in their place
Lucando
“I believe they should go.”
Who do you suggest replaces the current BOD?
TDT
My question is:- Why did only 25% of shareholders vote on such an important matter!
MD
Roy, the reason I said this is that things were looking up before Putin aligned his troops on the boarders of the Ukraine. The RY attackers were a bit quieter then because the SP was rising.
What did you expect RY to do to stop the SP fall?
What I believe should happen is for TEO to be released first. We do not know ow the value of the company without it so how can we make an informed offer for the company?
Whilst I read comments by TDT and others that Robin should stay. I completely disagree. It was the board and him that put in the offer as to how the funds would be used, he will no doubt do so again.
The BOD are not aligned with shareholders and selling the Co to give the proceeds to shareholders does not benefit them. I believe they should go.
Well Lucando you asked and he told you.B@#ger everyone else I’m agreeing with him.Just to hear that sort of sp target gets my vote.Seems like the best candidate as a new board member:)
MD
Roy.Hobbs
"I have met him face to face............"
When and where was that?
TDT
TEO Next or Counter Offer, even Other?
from the prospective of the active shareholder, who have done their homework, who are speculating on share price growth and a sale of a holding prior to any deal, the share price increase based on due to a market revaluation based on the cash or share value of the offer accepted or likely to be by the market. that person would be expecting 8p to 10p per share under current conditions and all cash, any deal less that that in any aspect will not be approved by the votes against the offer this week.
To realise that potential share price and offer, that share holder probably if basing a lot of their speculation on revealing of the TEO results and the commercial registration of the reserves being completed. i feel that is totally justifiable and rounded expectation of such a shareholder, the limitations of such an offer appearing are not as profound as that same shareholder me fear, due to the following factors.
1. the take off minerals were always destined for Chinese commodity brokers, and or a large Chinese steel company, this could have created many avenues to advance the project to industrial production, including mine building funds through such relationships, the variety of which are numerous.
2. other funding was always to be Russian banks.
so in the current climate, 1, is still possible, but it is more likely to be a commodity broker who buys the project to take to industrial production and can easily attain the 30% Russian ownership as a Russian strategic asset in the production stage and without sanctions affecting that, this is the better choice for a sale for Amur before or when the TEO and mine
plan are revealed. the official registration of the reserves would be a pre requisite for any company with fiduciary duties before being viewed as a potential investment.
The TEO should to put it simply set the share price on fire for the reason above, and thus realise the share price potential rightly envisaged and invested in to be realised for share holders, i personally own 2.8 mil shares and would be very reluctant to sell for less than 12p and for cash in full on completion, and we should not even consider any offers until the commercial registration of the reserves of the project is completed.
Roger 65- agree totally with your comments, i believe RY has failed to look after the shareholders and was happy to send us down the river his updates are very few and far between he has been exposed
Good post husato.
What is your opinion on what happens from here?