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Adam Habib is president of AMC but not a Board member anymore. We don't know why, but there are many things we don't know about the current situation.
His linkedin is updated regularly and he has left his title as President of Amur Minerals unchanged (working here at present). If that isn't true he will be in a heap of s**t for false misrepresentations.
2018 drill results - I only invested in 2020 so not sure about the 2018 drilling campaign. I hear those results were never released. How can you drill in 2018 and not tell its shareholders the results?
AH - He's joined Europa so is he still part of Amur? If he is, then where's the update from the AGM? If he's left... update the website and release RNS as it's missleading investors. You couldn't normally false advertise such information.
For me AH added energy to Amur - it seems like he was doing all the work and if he's left the rest don't know what to do abd are back in a mess.
TEO - on track for December 2020. Slight delay for office proceesing so delayed to Q1 2020. Now we told by Dec 2021... are they looking for a new AH to finish off sorting the TEO? (as the rest of the BoD have no idea what they are doing).
AMC or HZM? - I had a choice, chose the wrong horse by yhe looks of it!
This is my final post on the subject as i think clarifies my point.
The below is from an old poster on iii who spoke to Brian Savage directly just after the Crede deal was entered into.
Company Call
Market Discussions
lse:amc
Back
Psyclops
Dec '15
Morning All,
I haven’t read the board much after the news as I am away on business and had a team night out last night but have got a gist of the vibe and comments.
I had a chat with one of the Directors in NY last night, Brian Savage, kind enough to call me on Skype after a few messages back and forth and thought there are some points that should be shared.
Firstly about Wachs, the guy made a mistake 20 years ago and did time and has been barred for life from ever acting as a broker or banker.
The background of the 20M was he was in debt to 6 Casinos for 30m and getting squeezed.
Think about that - in debt to casinos for 30M and he is still breathing.
In any event, he had a problem (gambling) in his 30s, made full repayment and did time for it and moved on.
Crede are not in this for short term profit - they expect to keep the majority of their holding and want to profit from it in the long run and for that to happen, the SP has to go upnot down so there is no benefit to them shorting it down prior to any placing - certainly not this one as the placing was at recent highs rather than lows.
There is one caveat though that according to Russian legislation they cannot own 25% of a strategic resource so at any time as it gets close the will need to reduce.
They will notify their holdings and are also required to notify any changes.
This funding and securing it now means they have 90% of the DFS funding requirements already secured and they do not need to spend time or resources on securing more finance - the balance they expect will come from the Far East Development Fund.
This last part is a big deal, especially in the current climate.
Lanstead were available and willing but they didn’t want a credit line that would feed equity into the market constantly as happened last time, they wanted a major shareholder to come on board which is what this is.
"less negativity" but our only two outcomes are losing everything, or regaining some of our losses?!
Haha, only kidding. Let's hope the rot stops next week.
Hi Manuel (hope you're keeping well, too) and fellow LTH sufferers. I can well empathise with all the understandable gripes following the lamentable sp performance in recent times, as I'm some 80% down, too, over more than a decade in this now...
However, we are where we are and no amount of 'sounding off' on here is going to change anything as we all know, really. We're now in a binary situation here, it seems to me - it'll either work out or it'll be a wipe out; a sudden recovery of much of our losses or crystallisation of them.
How long it'll take to find out which transpires, we just don't know. It's worth remembering, though, that we have cash in the bank with some useful income receipts coming in, no bank borrowings, nor bond holders to worry about whilst sitting astride a massive and increasingly valuable Ni sulphide discovery which is becoming more desirable today than it's ever been and someone will look to monetise it, even if our BoD can't bring it off themselves.
Ergo, my guess is a pleasant surprise is more likely than not but let's have less negativity on here while we wait it out; it's depressing enough as it is right now - that's all I'm saying... sasa.
TDT,
If the BOD thought a Lanstead deal had been better than the Crede deal they would have gone lanstead, regardless of what anybody posted here.
They decided upon Crede because they thought they were getting a "long term institutional investor" as per the RNS and not the usual rinsing into the market that Lanstead had performed previously.
The BOD chose what they believed was the best option but got it wrong in the understanding of the agreement and intentions of Crede.
Thankfully myself and others had the foresight to campaign and vote against it continuing.
Lanstead were one of the options they had at the time. They went for Crede despite having a positive experience with Lanstead and despite the fact that Lanstead were keen to fund a second time. The reason why they didn't go with Lanstead was because of the negative postings of which you were one of the main instigators.
TDT
TDT,
The lanstead agreement only worked out so well as they were able to capitalise on the licence approval.
I don't recall anything being said by AMC and lanstead that they wanted a new deal but didn't because of LSE BB postings.
I disagree that going with Crede was because there were not other options available, it was perfectly clear that the BOD thought they had a "long term institutional investor" but ended up with the exact opposite.
It was therefore perfectly reasonable to think they declined better deals as they thought they had finally gained institutional support.
So i don't accept that the PIs twho wanted an alternative to Lanstead take responsibility for the BOD messing up the due diligence and not understanding the contract mechanisms of what they signed up for.
Thankfully most PIs saw sense and voted to end an agreement which would have pretty much wiped out all holders
Aah Yes TDT I stand corrected. It was indeed Lanstead the roaches.
Atb
S4
S44DYK
Don't forget it was CT who, along with others, lobbied against Lanstead, despite the fact that the deal we had with them very much worked in out favour. The negative comments on this BB surrounding Lanstead resulted in the BoD feeling they couldn't go with them again which was instrumental in us ultimately going with Crede.
PIs might move/influence things but then don't always do so for the good.
TDT
I have nothing to offer in the knowledge front but am in same boat, massively down on my investment and putting in the bottom drawer. Maybe thats why the share wont raise its head, to many like me.
Hi Sasa
I know what you’re saying,but I also think many of us are trying with as much annoyance and sarcasm as possible to get some sort of information or reaction from Robin Young.I am about 60% down and merely want a few words of explanation.That’s surely not too much to expect.
If only we could get a return to the mood we all had on ii a few years ago,sadly I can’t even work out how to post on there.
Hope you are well Sasa ATB
MD
Same as me Poolman. I'm only here now because, after all these years, I would hate to be out of this when we do get that one piece of good news that will make this fly. I have accepted that it may never come.
I agree sasa43, I've been in this share for many years now and held on, now 88.41% down on my investment. Sadly, this really has turned out to be a complete dog of a share for some time now. As I don't need the money for anything else, I just hold for the same reason you suggest, it'll either surprise us all one day or fizzle out to nothing, we'll see.
Agreed Sasa. That being said this and all boards are an important space for shareholders get an idea of certain things(emotions if anything). If we remember CT pushed for votes so we could get rid if leaches like Crede.
If a joint effort of shareholders is required it will be here where it will find ground in the future. I for one have to agree with the what Joebass(if I recall correctly)has been saying for a while Robin has to go. I detested this idea previously but looking at the stage the business is at. We do not need a geologist at the helm but a deal closer or someone who has experience of putting projects like this into play.
All in my opinion.
Atb
S4
Yes, we're all very frustrated and well under water (most VLTHs, anyway) and the Bod's comms have been very poor. We'll either all wind up losing the lot or something will suddenly crop up to surprise us on the up side.
Having written this off mentally for quite a while now, that's the only sensible thing to do now, imv - it'll save all this incessant grumbling which just compounds the angst of it all and serves no purpose, other than to weaken an already woeful sp - sasa.