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terrible destruction and loss of life, harrowing images, poor pregnant women and their lost children, what an awful attack that was on the maternity hospital, very upsetting to here over 100 innocent children killed by shelling and missiles.
i hope somehow the dying stops as soon as possible, i hope peace and ceasefire can be agreed soon.
As an LTH the end game has always been a takeover for me and I have accumulated up and down along the way.
As far as I am concerned, the AMC BOD have got us to the position where a takeover can now occur.
Its certainly not been a pretty journey, but there are / were active suitors, so just need to wait and see what happens next
Similarly CT, what have the Romans ever done for us!
Well said, my thoughts exactly.
TDT
True, thats one view, can only sell if you have a buyer
Alternatively, depends on how hard the BOD tried to push for a sale
We're not sure if there is a buyer, we got told there is a potential buyer and the BOD are in discussions, what have they been discussing for the past 8 weeks? Not expecting details, not even a comforting RNS on the lines of discussions are proceeding as planned.
Going by past performance, the discussions will collapse and we'll get an RNS, or, we'll be told to accept an offer in the region of 7p, with a caveat that if we don't, the company faces uncertainty as it wont be able to fund it to go into production . As for the TEO, in my opinion it will not see the light of day, otherwise it will spark an outrage that the BOD are even entertaining an offer in the region of 7p, when in reality AMC is worth multiples of 7p.
I love to be proven wrong, and love RY to pull a rabbit out of the hat, but right now, he needs to pull finger out of his a.ss first
Kammy
CT other Russians that are sanctioned in uk and have massive assets in the uk transfer them to a trust in their kids names and the sanction mean squat.Oh and no one says a word.
They will as I said in the earlier post pull every stroke in the book if they want to get it done.
MD
You can only sell an asset if there is a buyer.
There now appears to be one which all things being well will lead to the value / reward to shareholders
CT....I ask again, what have the BOD achieved and delivered for the shareholders?
The things you mention, none of them have given you a return on your investment, but during the course of the past 7 years the BOD have rewarded themselves handsomely thru salaries and options.
SP at the time of the mining license announcement went to 40p ish......today it sits sub 2p
Very simple, an explorer should go into production at the earliest opportunity, or sell up and return cash to the shareholders, playing the long drawn game only benefits the BOD, not us the PI's
Kammy
What have the BOD done...... Well,
Taken the company through a major Nickel downturn, achieved 100% mining rights of a Russian strategic asset, navigated the funding difficulties caused by the Crimea conflict, proved up the asset, made a profit on NRR, set us up financially for the foreseeable and are in discussions with at least what potential acquirer who was valuing at significantly more than the market cap.
As per the RNS
The Company confirms that it is in discussions with a potential purchaser to sell its wholly owned subsidiary, Irosta Trading Limited, for approximately the indicated price. Irostra Trading Limited owns the Kun-Manie Project.
Such a disposal would constitute a fundamental change of business under AIM Rule 15 and therefore be subject to shareholder approval. There can be no certainty that any agreement will be reached in respect of the proposed disposal, nor as to the terms of the proposed disposal. A further announcement will be made in due course.
Can anyone confirm that if the talks stop, does an RNS have to follow to say no agreement has been completed and its back to daily business or do we just have to keep guessing talks are either off or on? Is the further announcement only if an offer is made and then yes off to the shareholders for a vote?
Some really valid points being posted today...
For a long time, AMC has been about smokes and mirrors, we the invested have always been kept in the dark.
For example, 2015, the mining license, I think it was user called FRAK who discovered we had been granted the license, only then did the BOD issue an RNS. Same as this alleged sale, the BOD were forced into releasing an RSN.
RY and the BOD have form, totally disregard for the shareholder...period.
In terms of salary sacrifice, no chance, this a gravy train for them, why would RY give up his £200k/year salary? Since 2015, he's drawn some £1.4m in salary, where is the ROI? what has RY and the BOD delivered in terms of shareholder value? In fact, they have done the opposite, they have decimated shareholder value.
I get AMC is an explorer, they have next to zero income, and thats why its even more imperative for an explorer to go into production, or get taken out, RY and the BOD have achieved neither. They have prolonged the end game process, and quite frankly it suits them, but not us!!
One of the most inept BOD..
Kammy
Any discussions will have been conducted under Non Disclosure Agreements (NDAs).
Not really much can be said if AMC are taking the agreement seriously
We do have a clue though MD, from recollection, the source that broke the news also later identified Vladislav Sviblov as the party AMC were in discussions with
CT I’m sure everyone has a view, I’ve given mine.We don’t have a clue who the bidder is,but as Robin Young has no regard for us pi’s whatsoever, I’m sure he has thought of every stroke he can pull and do the best he can for himself.That address in Cyprus is used by so few to deceive so many.That is it’s purpose.
MD
MD
Kammy
Fair point about the sanctions being in play for years to come. I do think people/orgs find loopholes around some of the sanctions imposed. Some argue that the loopholes are designed to allow businesses involved in commodities like oil and gas to seep through!!
The sanctions will have little effect on China who I believe may have a role to play, China and Russia have already started policies to develop the far east. and with what is going on, China will be rubbing their hands at the Spring sales in Russia!!
I do get the 'let's get this over and done with' point, and the major risk of Russia, nationalising, penalising, going back on their word for foreign business, ww3 ....... need to be factored in. Although there is no real evidence that this will happen yet!!
I think Amur_isagogo said it, the market has no appetite for the TEO or sale or anything to do with Russia investment yet with the horrible things happening in the world.
Sycho that made me chuckle until I realized I must be a bigger tool, to follow the tool!!
12 months for TEO with covid, the offer discussions drove up the share price like they always do, not interested in 7p per share, board will not even consider putting any offer to shareholders before TEO confirmed, madness.. as most share holders can see what the potential here is, this could jump to the 30s on the next major rally post TEO and some of take agreements, mine plan etc in a 18month period, that's before mine building loans etc are agreed and some share dilution to content with, but market cap on this is going to go up and up once the reserves are legally established by GKZ, do not even dream of a sale before that happens...
To put simple, I want to know if there is an offer or not on the table, at least I'll be in a position to make a decision whether to stay invested, or cut my losses and move on.
This BOD have form stringing us along with jam tomorrow, missed deadlines and etc
Kammy
Spot on Kammy, Russia with Putin is going to be a very interesting case for years to come . Nickel is going to be needed for years to come, one way or another it will eventually get mined but not by us. No one is going to be able to guess future Nickel prices for years to come but why not promote our value with the current Nickel price and let the shareholders decide if they want to take a deal or not. That is if any deal is incoming. If there is nothing on the table then lets promote the TEO and publish where we are and what we are doing next.
My guess is however no news and no offer.
I get both sides of the argument, stay silent, or publish the TEO, and try and push the sale thru.
True, AMC have money in the bank, enough for the BOD to draw salaries whilst stringing us along...in my book not a great option.
Also, if the conflict was to end tomorrow, does anyone really think the risks would also disappear overnight? Sanctions and counter sanctions will be in play for years to come, I rather have cash in my account as opposed to the great pay day we've been promised, and or have been waiting for since 2015 .
Kammy
MD,
If we consider that the rumours on the acquirer being Sbilov are true, do you honestly think now is the time to try a put a sale through?
A sale would be huge news and receive a lot of publicity.
From the UK perspective it would highlight a Russian with hundreds of millions that can move money around and has not been affected by sanctions (not good PR)
There is then the various countries that the Russian money would have to move through to get back to us.
Then there is how Russia may react....
There would be too many people / politicians trying to make a name for themselves.
So yes, I do believe that AMC need to keep their head down, keep talking to parties and hope that once peace is established and no additional sanctions are being applied a deal can go through
Yep fully agree MD, we need to move this along, promote the real value and put the for sale sign up and move it along quickly. Shareholders will get a vote on any offer so it will go for a value for what shareholders feel is realistic at the time. Get the TEO released to the market it serves plenty of notice to the market and could attract real potential buyers and give us a clue about real numbers. Nobody saw Covid coming, Putin doing his thing, what is next around the corner?
Start being proactive, but sadly as you say AMC haven`t got a raised voice in them and for me the silence is not golden.
Shouting about a great asset in Russia! AMC haven’t got a raised voice in them.The fact is they have been silent or secretive for years, that’s the been the historical joke/ annoyance about this company and bod.
There is awful events taking place in Ukraine,is anybody daft enough to think it’s all going to blow over and AMC will be better off keeping quiet for a while and stay under the radar.
Every one has been talking about nickel GET IT DEALT WITH .Sell the wholly own subsidiary,give us the chance to at last get out with a profit.
MD
hi, yep this is a brilliant investment imo, TEO and mine plan drawn up, share price should be well up towards MC of 500ml, before financing and share dilution blood bath which is inevitable to pay for construction, once that's in then 2 or 3 year wait for production to see big rises again. cant see BOD flipping the project too early pre TEO, share holders will only knock it back unless early 20p's
i have been a holder of AMC for a couple of years, like most the potential for this share price is awesome to envisage, i agree TEO just now is better delayed with the fighting in Ukraine, sympathies to any reader of this post who has any f or f involved.
I see the situation as this, TEP best case would be usually 6 moths or so, due to corvid i expect that could be twice as long, also due to the very cold frozen conditions out east, i expect the timing to be extended in to summer, but on top of that with travel restrictions TEO should not be expected imminently. Russian pm has stated foreign investors from designated territory will need to be approved before Russian companies can do business with them this year too, so hopefully the fighting will be over, and some economic sections can be relaxed, not sure how the sanctions will affect this progress, the western BFS seems almost a red herring just now, but as we know AMUR are aloof and patiently awaiting the GKZ to do there work, before revealing any take off offers to the market, as i understand take off offers are required to be included with the TEO...i see potential for 500ml market cap at point of mine plan draw up completed, and much more when mine operational, but share dilution will be significant by point of construction starting if horizontal metals are anything like a clue of what lies ahead, but Amurs plot is three times the nickel+.
I'm with CT,
releasing the TEO numbers now servers no purpose now.
In fact, even if buyers have the TEO numbers (and they are positive), with the current climate, AMC will be in a weaker position when it comes to any negotiations of a sale. Fair value, we will not get.
AMC have money in the bank which will last a while, AMC board need to sit tight, hold their nerve and wait. If needs be, string the discussions along (they are good at stringing people along!!). I have waited this long for my investment to mature, I can wait a little longer to ensure we get the best deal or something that resembles a fair deal, otherwise I am prepared to lose it all!!
Just my views, still trying to be positive, naive maybe so!!!
I used to hope we would get a fair price for our asset. Then I watched that Panorama on how Abramovich acquired his fortune. Basically the Kremlin decides who gets what, and how much, if anyone else wants to make a bid they are 'persuaded' not to.