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But it’s not ‘tanking’ either, no one is running for the exit. We have to let this run it’s course, one way or another, we need to see and end. Been here too long now.
Well, one of the recent funders appears to still be selling with the shares being picked up by the market. Volumes remain high. Will be interesting to see what happens when they finish.
Lanstead exiting caused a big jump, crede exiting caused a big jump.
The reaction from the market doesnt appear to be supporting your theory. If something big was in the offing I would expect to see the price move upwards
Cheers GB33, I decided to add when we found out Robin and Paul were taking shares instead of salaries. The low price meant I was able to accumulate more than I expected.
I think that there is something big coming with this latest announcement and am adding like crazy
Nice one CT - I admire your chutzpah!
GB33, yes, I have added more. The 9m rounded up
Firstly I would like to say thanks to all for the civil tone of the discussion. I thought I would get battered when I posted this morning. Believe me, I want this to succeed as much as everybody else. I just don`t get the need for all the smoke an mirrors. Maybe I am too used to being the other side of the desk. I know if I was asking for the licence to print that much cash, there would be some searching questions being asked.
CT - have you bought another million? I thought it was close to 8mn the other day.
Hi Hammer, I think you might be over sensitive on this occasion.
i)No AGM's/EGM's are permitting attendance in person at the moment.
ii) There is a "rush" because behind the scenes positive activity is clearly taking place.
iii) There is a deadline at the beginning of December.
iii) We live in a democracy and shareholders can vote whichever way they please of course. But we as PI's perhaps have access to 30% of the information pertaining to AMC. The Board and other closely related professionals.
iv) If the Resolutions do not succeed, I will be selling all my shares, because as another poster observed earlier today, we will probably see the asset pass across to another interested party through contrived means.
v) The reason why the share allocation is required was made very clear in the announcement, short of naming the company on the other side.
vi) Voting against now after so many years of waiting and wondering is akin to being on a desert island without much food and drink and then when returning to civilisation refusing the largesse of what is on offer.
9m in favour
Thrown my hat in the ring and instructed my broker to vote in favour this morning >3m shares.
I will be voting in favour.
I have 4 million and I will be voting against. From the talk on the board and if voting goes the way many are suggesting, they will maybe get 50% but doubtful on 75% for the other resolutions.
They need to release further details to clarify for me to change my mind
Hi Hammer.
I have 4m-ish shares and will be voting in favour.
Guess we cancel each other out.
Cheers
They could easily have announced a trading halt til after the EGM.
The reason they haven't puzzles me. Would they try to boost the share price before to attract some doubters??
I guess the share price will somehow “drift” up in the next couple of weeks to give the impression that the EGM resolutions are being positively received.
Hi All, I am not sure if I am getting sensitive, but I have some concerns about what is happening here.
We have an EGM called in the middle of a pandemic with some nebulous excuses given regarding the requirement for speed to pass a special resolution to increase the share capital from 1bn to 2bn, when there are no details of any specific requirement for this. The percentage needed to pass the special resolutions is 75% of VOTES CAST, not of the whole share capital. They will also not let any shareholders apart from themselves into the meeting to vote so we can`t even question the reasons for it. The directors have stated that they will vote for the resolution with their 18Million or so shares, which means that at least 6Million other shares will have to vote against the resolution, and that is if nobody else votes at all. I am not against issuing shares to raise capital to develop the business per se, but we have just raised £500,000, with supposed minimal running costs which should have got us through to December and the TEO. I would therefore like the board to be clearer about why this is required so urgently, and in such a covert fashion. I have a few Million of these shares, fortunately at a low base, and I will be voting against the resolutions by proxy. I would urge you all to do the same. This is the link to the proxy form
https://amurminerals.com/content/wp-content/uploads/EGM-2020-Proxy.pdf
Been in this share for years, I too have my concerns over 100% dilution. The BOD surely understand share holders want value, very few shares have any credibility on AIM. As much as I'd like a smelter i can see this being a JV rather than take over or otherwise. AIM will be completely dead to me if AMC shaft share holders that have been loyal for many years. For this reason I am very unsure what to vote. My gut feeling is the proposal is to fast track a JV without significant delays with any luck making us all wealthy along the way. Around a 60% chance I will vote it through as I'm not sure we have a choice or indeed any decision really. It's either win or bust for me.
A smelter would relate to progressing KM, so I'll use my ability to be selective and say that is good by me :)
What is it was buying into a smelter ?
TBH, my biggest fear is that the 500m share capital is for buying a partial or whole new investment and not related to progressing KM. I would be against this so, clarification or confirmation would be useful.
I’ve read strong arguments here for and against the proposal to permit up to 100 percent dilution. It has to be said RY’s recent track record of financing doesn’t inspire confidence but what intrigues me is the speed they are seeking to move at now. What’s the rush for?
Since any merger or j/v offer would have to be approved by shareholders, what stops them at that time seeking an EGM that also allows for an issue of additional equity to complete any deal? This EGM is happening at little more than two weeks’ notice so it can be organised fast.
What is it then that we are not being told about the need for speed in securing the right to issue 500m shares right away? I want the BoD to answer that question before I vote.