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been like that for many months. apparently their quota for clients holding long positions has been reached. You would need to call them to manage a long position purchase. Alternatively try Spreadex.
.....and you cannot go long on IG. You can only close long positions.
Thanks for your thoughts CBS, JoeBass, Cbaron & The East.
FWIW, I expect the most likely outcome short term is more of the same (Riverfort or other) until some of the outstanding work is delivered.
However, the speculator (fantasist?) in me has been digging around for an alternative outcome which brings to an end AMC's involvement as I think it's clear no matter how good we are at exploring, we don't have the skill set to get to production, other than as a freeloader along for the ride.
This whole tie up with Tom Bowens fascinates me. As others have said - why would he come on board if he couldn't see value in doing so? And to back that up with investment.
I was also interested by the rather large funding that The Russian Copper Company received ($2.1bn) at September's EEF. Relatively soon (10 months) after they purchased the Malmyzh deposit. So I've tried to find out how much CapEx the project required - only reference I've really found so far is from an interview article with Tom Bowens at the end of 2016, in which $1.5bn is mentioned:-
igcopper.net/wp-content/uploads/2017/05/Amur-Minerals-KP.pdf
"(planned investments at the stage of development will make about $1.5bn)"
Is the difference a recalibration of the project or a somewhat wider rescoping of the project?
Also looking back to the letter of intent with IG Copper from September 2016:-
"Both Amur and IGC are working closely with the Russian Far East and Baikal Region Development Fund (“FEDF”). FEDF is dedicated to the development of large scale projects in the Far East to upgrade the social, economic and infrastructural sectors of this vast region.
Both companies recognise that substantial work is required to complete final evaluation of the metallurgical recoveries, concentrate generation, transport, and development of final saleable products for their individual projects. Because of the relative proximity of the companies’ projects, there may be a substantial benefit in undertaking a collaborative effort in the combined processing of the concentrates which could identify mutually beneficial options and solutions to both companies’ project potential and economics."
https://amurminerals.com/content/wp-content/uploads/RNS-LOI-IG-Copper.pdf
As i say, speculative, but just possible we'll be taken out soon.
Morning All,
My view is that is Is an interesting 'calm before the storm' period. I just am a little nervous what the storm is going to entail!
I would be far move nervous is TB hadn't put in the cash he did- as others suggest- we have to assume he knew enough (or had brought others to the party?) to feel confident enough to put in the cash he did.
However, I would be more confident if the Board also embarked on a meaningful share-purchase programme.
Mixed bag overall- the decline is stocks is sort of welcome, but at the same time I would prefer to see a consistent steady price rise to give meaningful support of the viability of the project.
TheEast
GB/CBS,
There's not a great deal to take solace from here at the moment. For me, the only ray of hope is that the new boy, Bowens, appears to have the right track record and experience in the areas we desperately need and at least he's had the decency to tip in a few quid - would he have done that in a cash strapped business with no hope of survival, at best, likely to be sold for a peppercorn? Logic would suggest no, but then again logical reasoning and thought in AMC don't exactly appear to be a key attribute within AMC. Let's hope he not small and furry with a propensity to jump off cliffs............... ;-)
CB
Hey GB
Yes I see what you mean. Perhaps it's the fifth phase of grief, Acceptance.
The only ray of light I've seen in this company's development for the previous year was getting Tom Bowens to stump up some cash for shares (a smart move on his part - he didn't have to pay the spread like the rest of us).
I'd like to believe we are going to see some sort of deal that is better than the previous, but precedent doesn't serve this hope too well. True, it could be argued we are much further along than we have been in the past; all the same, we don't have an updated reserves figure or mine place. Yes - it could well be that our data room and private, NDAd-conversations back and forth with would-be suitors will produce some sort of favourable terms in the next 20-30 days. I'd love to think so. I remain unconvinced however. I would be convinced of this if:
1.) we had a published mine plan
2.) we had a reserves figure
I'm not sure why an investor would want to come in without those inputs. If they are being kept private then fair enough - though I can't really see the negotiated leverage in keeping such things private.
GB the odds are that we are going to get some working cash for the next year to get us over the line with the TEO study and some corp development. Those odds are somewhat diluted by Bowens investment; clearly he knows a thing or two about where this thing is going to go and hes put some money on the line to that end - again, the brightest ray of light we've had in this over the last 12 months (No, I don't count the PFS without it's updated reserves a bright spot).
Likelihood: more Riverfort style financing.
Long shot: some sort of strategic investor that will place a floor on the price somehow.
I'd love for the latter here, but I'm reconciled to the former.
I'd suggest the mood is quiet here as I think that's the same conclusion many of us have come to.
All the best GB,
-Steve
How we all feeling?
News pretty much must come in the next 20-30 calendar days coz that's about as much time as we've got cash to cover the wages. Yet none of us seem too concerned, at least that's what I assume based on the low volumes of share sales - no apparent rush for the door.
This I guess means we all believe that there is a next step; that something helpful is about to happen. Anybody want to speculate on what that might be? Some form of partnership coming out of the NDAs? More of the same from Riverfort? Selling the asset? Something completely different?
We must all be expecting news to prolong or maybe even improve our investment. I'm just interested in where the consensus lies right now - if anyone feels like sharing?