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WHIreland (2 gentlemen) were sitting at the back taking notes. Let's see what they say..
No need for apologies & certainly not from you Mrs B ... I was just trying to clarify whether something had been said/promised by the BoD on the potential circumstances/position around when the next placing will be .... given that it is my current intention to buy when & if the SP falls in line with it.
"The BoD are going to have to prove themselves with actions, not words. This means we are going to have to do our own research like never before until they have fully redeemed themselves."
My thoughts exactly but I did buy and extra 3M the other week at about .096 as you all know.
Trust very much has to be earned not given here and I am giving them one last chance at further cost to myself so we shall see if I have screwed up again soon !
Yes sorry I understand what you are saying.
Not sure Obs, some others may know as we questioned the board individually until we were chucked out by Hill Dickinson.
Andrew Suckling is familiar with the high grade of the Amapa iron Ore from when he was a metal trader and sold it on to China.
Tomorrow is another day.....let's see what that brings.
Mrs B ... all that's good & I appreciate your view & thinking but it doesn't mean it's a fact that more news (raising the share price) will arrive before a placing .... time will tell I guess ....
Not a sell & won't be whilst we have the JV's in hand AND also in my view their potential benefit significantly outweighs the decisions & actions so far (insert failures) of this BoD.
But in one thing you are right I am considering buying more but not until after the next placing which I believe will come before news that 'might' significantly lift the SP .... if and is for me an IF this turns out to be more than the captured Squonks we've previously had RNS'd .... if I miss a significant rise I've got enough as it stands.
As for the WHI report I've seen them come & go for us before without getting anywhere near the what would now be fantastic SP's they've indicated - don't work for them do you? So whilst I will look at it I won't be taking any action on the back of it.
Presumably the same goes for our port? Our port. How nice that sounds. The size of this project should not be underestimated. Was there anything said on potential to increase mining rate or/and mine life?
Oops two for the price of one.....
Btw once we have restored the railway we were told that there is a possibility to increase the revenue though other local mines using the facility also.
Btw once we have restored the railway we were told that there is a possibility to increase the revenue though other local mines using the facility also.
Well I've seen it at close range on google earth, the port ,the mine, the railway.ive listened to all 4 members of the board, explaining to the shareholders the deal we have been offered. They answered questions and gave detailed explanations for over an hour ,and believe me we hit them with a wide array of questions ....obviously how they deal with this opportunity is vitally important but they have decided to invest their own money after assessing this project. I'd say it's meaty Ban.
You are of course right on all points @Bannor.
The BoD are going to have to prove themselves with actions, not words. This means we are going to have to do our own research like never before until they have fully redeemed themselves. Because of past failures and stalls I held off doing the majority of mine on Amapa until the pivotal agreement at the end of last month was signed. Because what I have concluded about the Amapa project is good, very good in fact, and the market hasn't moved positively on the back of this, I've taken the opportunity to strongly buy this share. And rather than keep mentioning that in every post, as it'll get boring, I upped my opinion to Strong Buy.
Perhaps the Opinion doesn't help anyone, but if it helps just one person not misinterpret the poster's opinion based on a particular post's sentiment, then I think it's worth stating. I would like to see more posters state theirs. You might not realise this but from reading your posts I'm sure many would conclude you were on the sell side, perhaps not a Strong Sell, or a Sell, but a weak Sell, possibly a Hold at best based on your less scathing of posts. :-) Though it wouldn't surprise *me* to hear you've been buying as I know you can DYOR. LoL!
And just because I'm buying doesn't mean the share price will rise. It means that I think there is a very good chance of it rising from here based on various factors in the medium term. But as you very well know - I've been wrong before on this share, and indeed others. Though I've been spectacularly right on other shares, and this is what keeps me going when I have a belief about a particular share. I'm right, the market is wrong. Probably! ;-)
Let's see what WH Ireland have to say about Amapa.
Ob.
#fact Mrs B ..... you know this is fact or just hoping? If the former that's good if the latter it remains to be seen ....
Not worried about it all & you've simply reposted the link I put up intentional or were you trying to link something else.... & you'll forgive me I'm sure for not putting too much store by your 'strong buy' .... you've drifted in & out of that previously on the back of your calculator of many characters & the blinder (LoL autocorrect changed that to blunder hmmmm :-) ) you've painted the BoD have played.
Just pointing out that the BoD should come over as excited & singing about the potential of Amapa (as they have for every other failed, stalled, stuck & costly agreement & deal they've put pen to so far) if they didn't what would that say!!!
Nothings a done deal until it's a done deal & Amapa has some way to go yet to prove its value rather than just its cost & risk.
It's worth following up on https://www.mining.com/brazilian-prosecutors-say-anglos-sale-amapa-iron-ore-shady/ if you are worried by it @Bannor. I did a while back. And I'm a Strong Buy ;-)
Good heavens .... I sincerely hope as do we all I think that Amapa turns out to be the value maker & pivoting point for us whilst we wait for JV sale or exploitation but this constant surprise & lauding of the BoD's positivity over it puzzles me personally.
Do you really expect them to do otherwise? We're they not positive about Greenland, Leogang, San Luis etc etc ...... they're trying to sell it along with their supposed collective genius for it, the value remains to be seen & as for their abilities...... well my views on that are well enough known.
There's a way to go yet for Amapa & I dread to think how we might cope or survive if headlines like this start emerging during our involvement if indeed it gets that far: https://www.mining.com/brazilian-prosecutors-say-anglos-sale-amapa-iron-ore-shady/
The fact is they have some tasty meat in Amapa to showcase first before they think about hitting us with a placing.....
AIM hobbled. Now there is a phrase. Remember you heard it here first. ;-)
Thanks @Degsie! Good to hear not all of the $3.5m the market (and me!) is worrying about will be raised via a placing. If we do have to place, then I'd like to see it on the back of amazing news so it can be raised at a (discounted) share price much higher than this AIM hobbled one. Lol!
@Frankie. That's right it's normal to buy in bulk at a discount on AIM. What the BoD need to understand is that on AIM the share price before a placing is already significantly discounted in anticipation of the placing itself. So it's not just 5-10% (potentially much larger!) discount on a fair market price on AIM, it's 5-10% on an already 20, 30, 40, 50% discounted fair market price. It's rubbish, and one of the reasons AIM is becoming despised by many. An excuse of "it's normal" doesn't wash with me. If what we've got really is the bees knees then let's see some buying on market beforehand from those the BoD are willing to let in on the cheap. Same goes for the BoD themselves IMHO. Over 75% of shareholders who voted trusted the BoD by voting away their rights to be guaranteed an option to participate in placings on their recommendation. Let's not see that trust abused.
My take on AGM. About 25 shareholders and all 4 directors. Before formal AGM KM briefed us about Amapa. All directors were positive and enthusiastic. KDNC has deposited $2.5m in an escrow account to be released when certain conditions are met and that gave KDNC 20% of venture. When further targets had been met KDNC to acquire further 7$ for $3.5m this to be raised by debt but any shortfall by placing. The Bod is in discussions with strategic and institutional investors and those discussions were subject to share consolidation. I repeat that all of BOD were enthusiastic about Amapa. There were very positive comments about MMS and its deal with Glencore. MMS intended to move to ASX as TSX was not appropriate for Australian business. EMH had a deal with Czech utility company that was subject to due diligence. As Kiran is a director of EMH he was unable to comment on negotiations but he seemed positive. Although the investment in BCN is now modest the deal with Ganfeng should increase its value and KDNC still has JV. BoD said that it would be reluctant to see more dilution as they had invested £350K in June. I agree with Ivybush’s comments on Amapa Only negative was that Greenland license was likely to be allowed to lapse as it would cost £300k to renew. W H Ireland report to be published tomorrow but not available on KDNC website. Formal business of AGM took about 15 minutes and then directors stayed to talk to shareholders.
Absolutely @Barksy - I don't blame the BoD being "super super keen to get the job done with more personal involvements....". If I were they believing as strongly in the project as they appear to, I'd be wanting in at this imv undervalued share price!
What are they going to do to allay the scepticism of AIM shareholders? Buying on market as well as in placings would be a start IMHO.
Contacts is prob a better word, you are right, but they would be super super keen to get the job done with more personal involvements....
AF 's fund will invest in iron ore whereas AS's fund cannot as only invests in futures and Lithium.