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Sorry .... “Henners”
Hennessy ..... we don’t know who voted for what and which votes were used and counted as the AGM figures have not been released ..... and probably won’t be. In the past, a show of hands at the meeting has been used.
OTL
Hi Henners007
Well now we’ve both had our say
MD
MD a couple of errors in your post at 15:17 yesterday
i) AH failed to gain re-election to the Board because of you and me voting/not voting at the AGM, NOT because of the dark forces you allude to.
ii) You and I have not contributed a single bean to AMC. We have NOT ploughed money into the Company. a) If there had been a rights issue/placing and we had been able to participate, your point would be valid b) when we buy or sell AMC shares we are simply passing the value of those shares across to the buyer/seller. It does NOT go to AMC and c) it is possible that you have personally made a loan to AMC, in which case you would have ploughed money into the Company.
Hope this helps. Sometimes on this board contributors just make comments that are plain wrong and that doesn't enlighten the less initiated.
Lorenzo seem to be working on a system that introduces many party’s to each other, with the intention of taking a cut from both sides of every deal along the way.So noting that AH is still a member of staff at AMC and is on the bod at NRR is he in some way reaping a benefit from NRR and that is the source of the AGM fallout and Non re-election to the board of AMC.I really think shareholders should be appraised of the reason for legal consultations and the outcomes.
The investment that we pi’s ploughed into this company was spent long ago,surely something must change soon.Many times over the years many have brought up the subject of shady people in Russia,it would seem they have sunk to much lower levels in London and New York
MD
Let’s hope the Lorenzo website publishes more information than AMC. It will be interesting to see the Projects and Investors pages when filled in.
OTL.
A trifle fishy, is not being updated as promised after the AGM vote.
Just another, in a long list of failed promises. It's the norm now for this mob, make a promise and never mention it again.
On the Lorenzo webpage, they laud themselves as working together recently completing a successful mining investment via LaTourelle Consulting ..... if this is the AMC/NRR deal then something is a trifle fishy ..... wasn’t AH supposed to be working for AMC as a consultant?
OTL
AH and Marsden are both directors of NRR companies, supposedly looking after AMC interests at the same time as both being directors of Lorenzo. Lorenzo’s wish is to invest in a mining company preferable in a struggling jurisdiction where the developer is finding it hard to raise funds.
There has got to be a conflict of interest here.
OTL
CT - lol - your last comment there made me spit the coffee out - “acceptable to AMC” - they’d have to have standards for that to be true!
If there’s a way to keep him getting a cut he’ll have found it.One thing is certain,the bod don’t think their shareholders need to know.
MD
Yes, he is representing AMC at NRR in the same way Rob Marsden is and reporting into AMCs BOD. A big difference in being a decision maker as opposed to following instructions.
I can't remember the exact terminology from the rns last year but it was something like amc now being an exploration and resource development company.
As i said, this appears to be in conflict to what Lorenzo Investments is as well as his other consultancy role.
Only way i can see this being acceptable by amc is if he is on the outside now (obviously with the exception of NRR)
I wouldn't be surprised if he's had Youngs pants down.
That seeking legal advice after AGM was just a red herring to hide his embarrassment.
OTL
That's closer to the mark.
TDT
He did state that AMC would have an offtake agreement for all its future production with a tier 1 natural resources company by the end of 2020, this obviously appears not have happened:
https://youtu.be/lBiX2ujgqeY 10m in
He is still a director of NRR and as such, representing AMC interest there. According to the January RNS, he was overseeing the approval from the Australian FIRB regarding our loan note being secured on the mineral assets and expected to report back. Can’t believe we’ve handed over money without full approval. He’s still in the loop but probably a smaller loop !
OTL
OTL, something obviously occurred at the AGM which is being concealed with the votes not being released and lack of any solid update of legal consultations.
The role of president for us is pretty irrelevant as directors carry the responsibility and as this new roles and company would appear to be a conflict of interest.
Id say he is now out of the loop with AMC and there in name only.
CT .... if he has served his purpose then what is the purpose of him being ‘President’ ?
OTL
How about AH's new company Lorenzo Investment plc being the acquisition vehicle for AMC?
It does appear that AH has served his purpose at AMC and is moving onto the next thing.
Nice office on Grosvenor Street, Mayfair
No, AH is concentrating on AH!
AH’s new project is coming along .... with a shiny website for the now-named Lorenzo Investments PLC . They describe themselves as a special purpose acquisition company for natural resources ..... sorry no link but their ‘about us’ page is well worth a read.
Thought AH was concentrating on AMC ??
OTL