Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I agree with MadMat in that we deserve an update, whatever that may be!
Tricky, you serious think I'm trying to do something... ? Other than converse... I previously thought making such accusations would be beneath you.
"Suggesting the buyer is responsible for all of this"... FFS...
Do you .... can anyone ... seriously hold the buyer or seller responsible for any of this?
I don't believe either party started the war...
Bye
MadMat
Try as you might to shift the blame for all of this I think the two below extracts, taken from recent Amur RNSs, make it crystal clear where the problem lies. The Russian party to this transaction is trying the transfer money but the western party to the transaction is not taking it.
RNS - 3/10/2022
Robin Young, CEO of Amur, commented: "We are pleased that the Russian Federation has approved the Disposal of our AO Kun-Manie wholly owned subsidiary in the agreed amount of US$35 million. It is our intent to advance to Completion as rapidly as possible given the ongoing geopolitical situation where sanctions by various nation states continue to be modified on an ongoing basis.
RNS-7/11/2022
However Western introduced restrictions related to the international transfer of funds from the Russian Federation have become more restrictive with time. Mainstream international banks are severely restricting or are no longer allowing such transactions per their internal compliance protocols. This includes the Company's bank which has necessitated establishing alternative banking services. The Buyer and the Company are coordinating efforts to establish a fully compliant fund transfer allowing for completion.
Suggesting the buyer is responsible for all of this is a bit like victim blaming. Putin might be responsible for current geopolitical events but that doesn't make Sviblov responsible for Amur not being able to find a bank in the west to take his money.
TDT
TDT2, sure ... plenty of company's have sold their RF assets... and in these cases would you happen to know if it was the buyer who got the buyers cash out of Russia....
or was it the seller who got the buyers cash out of Russia ?
Perhaps that's an over simplification... it's not getting the cash out of Russia that's the problem... (that's been approved but Putin himself I believe)... its finding a western bank able and willing to receive it... perhaps that's something RY could help with... perhaps RY could do more.
But as always the onus of payment is on the buyer...
Probably because sanctions have tightened.
Who was the most recent to cash out? and when?
MadMat
The problem with your thesis is, if correct, no western company would have successfully concluded the sale of Russian based assets and that's patently not true. Plenty of UK companies have divested themselves of their Russian partnerships and assets and been paid so why not Amur?
TDT
Oh I see what you mean, nice idea, not sure how accommodating the buyer will be to do that also at some point amc will still need to deposit the cash and the banks will do their checks .
hi... the problem is that Russian money is now dirty money and no bank in the West can touch it.
So who is best placed to find a way to clean it... any kind of round the houses route... transferring money to Belarus, then Switzerland, Cayman Islands etc.. so it eventually turns up in a legitimate looking account that we can accept funds from must surly be down to the buyer to figure out.
The other possibility is that sanctions are a policy and can be waved, I would think... with special permission from the foreign office... If the foreign office says a UK bank can accept it then I'm sure they would. Perhaps making that case is something Robin could be doing.
EIDR -- made me chuckle.................
Hello MadMat
Just wanted to understand what you mean.
There has been no indication that the buyer cannot stump up the cash, the issue is, AMCs banks (assuming the banks are within the UK jurisdiction) are currently performing DD/KYC on the money that AMC wishes to deposit. To my understanding, the DD/KYC will include such things as money laundering and sanction checks on the buyer.
Things such as:
- Who the buyer is (even though the buyer may not be on the sanction list they may have some links to people who are!! )?
- Where the money from the buyer has come from? so on and so on.....
Even if RY gets a bag full of $100 notes that = $35m he will still need to deposit it somewhere unless he keeps it under his bed!!
......
This is my understanding anyway
I want my divi also...
bitter regrets for not selling at 3.5p this time last year... greed on my part...
Desperately hoping this deal will come of....
But if the buyer cant stump up the cash... I'm sure we should blame the seller
As I said earlier... what I would like to be hearing about is a plan B... ie we have our mine plan coming together and we will meet that key milestone... or has the mine plan been abandoned as all our eggs are in the Spiv basket
LOL..
Just take the money in Bitcoin then pay everyone out in Bitcoin. Bitcoin then rallies to a £100k and everyone's happy,,, Well we can dream
Are you real? Would I be able to ask about your bank account?
Well Mat,I’m blaming him,it’s his job to do what he said.I want my 1.8p div.The deals been done since 3rd October where’s my money.
MD
Anyone any idea which Bank holds Amur's accounts? If we knew that I could always try calling them to see if they are willing to answer any questions on the banking issue.
I'll try that tel number across the Atlantic again once US office hours are running. About 4pm. Don't expect anyone will answer again but I'll post any reaction.
Think RY is probably enjoying a well earned rest after an exhausting autumn. Appalling that CEOs and theior whole companies can just go to ground like this and not be answerable to anyone, even for a simple 'phone call. Hardly inspires confidence.
perhaps spiv wasn't ready in October...
maybe the lawyers were still messing about
either way, I don't think we can blame Robin for the impact of sanctions...
Why cant Spiv take it upon himself to get his cash out of Russia? Open a bank account in Cyprus... via third parties... whatever it takes.
Absolutely agree TDT.On 3rd October when the deal was agreed by Russian authorities Robin Young said ‘It is our intent to advance to completion as rapidly as possible given the ongoing geopolitical situation where sanctions continue to be modified on an ongoing basis.’
He knew the situation in October NOT November and has still failed to act for his shareholders.
Some respect would due if he had updated us on the situation,he just seems to do a worse job as time goes on.
MD
MadMat
That's not quite right. Its Amur's bank that's the issue. Bering Metals LLC are trying to transfer the funds but it's Western sanctions that's preventing that. RY should have been on top of this given the rapidly changing events resulting from the Ukraine war but he wasn't. I think the blame here lies firm on his shoulders. He might have been caught out by a sudden change in requirements but at least a half formulate Plan B in the event that the unexpected is what I'd expect him to have. The amount of time that's passed since the 7th. November RNS suggests to me that he got caught with his pants down.
Who knows what's going on behind the scenes. Not an awful lot if past performance is anything to go by.
TDT
I don't see how the cash flow problems of Spiv are something Robin can be expected to help with. Its Spiv's job to get his cash to a place where he can use it.
What I would like to be hearing from Robin is that the mine plan is progressing and will meet the deadline for delivery.
If you mean Robin Young his address is in Danville, California according to LinkedIn & RocketReach. :-)
Roger?
Buys outweighing the sells today.
Either someone knows something or investors taking advantage of the low price to reduce their average cost per share. Either way it is nice to see some interest in AMC.
Gla
No anger issues here, quite chilled actually, hope you are not a psychiatrist. Toys firmly in the pram. Just pointing out the biggest moaners have not taken the opportunity over many years to go and ask the questions.
But as a matter of interest, how do you know where Roger lives?
The reason Company’s list on stock markets is for Funding, nothing else. In so doing they sell their shares & no longer own them. It can be said that the shares are in name only. The Industry manages the listing.
Some stocks are 90% owned / managed by the Industry. Now considering that it’s a pointless exercise to make money from yourself. How does the Industry make money from the listing. This is what you see, nothing to do with the underlying company or general market activity, although it will be timed to appear so. You will also see Marketing pop up from time to time, in it’s various forms.