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I'm afraid this is sell out - even for a possible derisory sum - or this is totally worthless. Forget the TEO, that is just a waste of time now.
Amur were admitted to trading on AIM in March 2006 with a m/cap of £28.4 Million (more than it is worth today!!) - see link here - https://www.investegate.co.uk/amur-minerals-corp--amc-/rns/aim-admission/200603150801028133Z/
and since then the useless management, and particularly Robin Young who was CEO then, have drawn their salaries and done as little as possible while stringing shareholders on about eventually going into production.
The truth is that Russia was and is not a good place for foreign companies and it is most likely that they would never have got anywhere near going into production even without the latest troubles. It has just been one big fantasy, propelled along by the ever increasing asset, but never in the real world was this ever likely to happen.
Now the best option will be to sell this asset, via Cyprus where the sale should go through okay without breaching any sanctions.
Amur can then look into acquiring an alternative prospect, maybe in a friendly environment like Australia, and maybe another nickel/copper prospect as there are some of those there.
Otherwise this will just drag on until the asset gets taken off them, and that is with or without a resolution to the current conflict. In fact, if the conflict does end it will probably be even worse for companies like AMC as the US sanctions will no doubt drag on for years if not decades and the animosity between Russia and US/Europe will no doubt intensify.
AJMO
Just to clarify by this "I'm afraid this is sell out - even for a possible derisory sum - or this is totally worthless. Forget the TEO, that is just a waste of time now" I MEAN THAT IT IS TIME TO SELL THE WHOLE COMPANY, and not for PI's to sell their shares.
The management need to take whatever offer they can get and forget all about Russia.
So you’re saying the management is useless so they should sell the current asset and get another one and go through it all again. Sound advice. Any other gems?
I'm sorry Blackrhino1 but I don't see what you mean by that post.
However I have just read this post by Blackrhino1 on 29 Jan 2022:
"The bottom line here is that this BOD have never had the capability to take this through to production. There’s been a big For Sale sign outside RY’s door for years. Nobody has bitten so they’d have to plod on proving up resource, ticking the boxes until they’ve done enough to convince someone it is a viable proposition, supported where possible by Russian grants. Someone has now broken cover and personally I think this will ensure others show their hand. We know this is a derisory offer for the resources we have available (both in terms of quantity and quality and likely future demand). No-one on here has ever been able to second guess what this BOD has been up to, so it’s just wait and see, as it ever was.
GLA"
It appears that you said much the same back then so what is the point of your post today?
A post that gets 4 recommends from posters hiding away too scared to say anything and who still believe that this company is worth anything at all except a quick sale at whatever price.
"posters hiding away too scared to say anything " get over yourself you muppet.. Some of us have better things to do than post on BBs everyday..
You appear to want rid of this at any cost and start again. This company has never had the capability to take this through to production, it has always been about a sale and the various processes they’ve gone through has been forced on them in order to make it more attractive for that sale. The idea that they should get the receipt and invest it in something else so they can use their ‘useless’ experience is frankly ridiculous, in my view.
I am not saying they need to keep the management. They can go with the asset if they want. But the listing is worth keeping and there are lots of companies busy acquiring exciting prospects at the moment, particularly in Australia.
I'm afraid the bottom line is that unless they get rid of this asset at any cost then it will be worth nothing. Anyone with a brain can see that.
They should have kept Habib on the board. He would have got a sale sorted out in no time.
Does anyone have an email address for Robin Young?
I can see where you're coming from ART, but I think RY has been in similar dire straits before and didnt blink, notably during the GFC of 2008.
If there were debt repayments that needed to be made, then we'd be in trouble.
If we were reliant on $ funding, then we'd be in trouble.
If we had cashflow problems - which with a skeleton crew manning the ship, we don't - we'd have a problem.
If the corporate structure wasn't setup in the way it has been - Russian Co, Cyprus asset holder, BVI registered - then we'd likely have more of a problem.
If the Ni market was in the doldrums - perhaps we'd never even dream of a buyer in this environment
If we had infrastructure worth seizing, or cashflow generation that would aid the war effort - then we'd have a problem.
The actual problem? Yes, we're based in a country that has prosecuted a war everyone is (rightly against). So that eliminates Western buyers. RY has been saying for years that the buyer will likely be Russian or Chinese.
Sitting on hands - still the only strategy here - is the best to follow.
Anyways ART, best of luck
CBS
i agree with you cowboy and i do think that any buyer will be russian or chinese especially as these are funny times with sanctions, i think it will continue to be a long hold.....
i have cashed in some today that i bought 3 weeks ago not because i don't believe in the company but well i'm having a new patio. not all investment decisions i make are on the merits of a company. also i very much enjoy the chat on this forum.
I hear that Rubarb - I think around this time of year we all believe in our patios a little more than a company!
It seems a goo
Pump and dump before May Day parade and Putin declaring war on Ukraine?
Good swap that !