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Hi gilyard - nice to hear from you, too.
Yes, I recall my anxiety in running on with CEY when the 'Arab Spring' broke out, so I profitably exited, preferring to see how it all panned out from the sidelines. The one negative I had over it throughout was the 50% Govt. stake held, whereby they received half the earnings and largely determined the tax take, too, so CEY wasn't as striking a free enterprise 'goldie' as one normally gets involved with, despite the impressive achievements back then; not sure whether this still applies today?
AS for AMC, to say that I seriously underestimated how long it would take to bring things together here, would be a major understatement - so apols for that! Would that we were clairvoyant in such things...
Over the past decade or more, we've seen the resource increase by some 5 x but then the equity float has done the same, as the shareholders have funded its existence throughout as we know, so you could say that the juxtaposition is largely unchanged but there's a new dawn emerging now, imv, which should, finally, start to pay off.
With the latest deal announced to see AMC being partially self - funded henceforth (to the relief of the LTHs from doing that job hitherto) and a new man in charge against a much improving outlook for our nickel sulphide, one has to draw the conclusion that if ever Amur was going to finally make it, it must surely be under such beneficial conditions we're now seeing...
Hopefully, we'll soon see our exceptional patience being fully rewarded - that's my hope, anyway, after all this time, so good luck to us all - sasa.
Hi Sasha. Back in the early 2000’s we were in CEY . In those days it was still in AIM and was being run by Joseph. We all did very well as the mine was bought on stream. It is the only 10 bagger I have ever had. Come the Arab spring you advised that it might be time to get out which I did.
I did get back in last winter which turns out to have been a good idea.
You did suggest all those years ago having a look at this Company that had a chance of being granted a licence in the far East of Russia on an inaccessible bit of land with Nickel prospects.
So here we are 12/13 years on. You have hinted and many have thought next year, next year for many years. And maybe at last this might be the year. Good luck all long term holders.
More of the original names crop-up out of the blue. I got the heads up from Sasa, what was it 13years ago about AMC and I'm still here too. I use to post as Sharpeyes on iii don't know why I changed. I also think it was a pity that they changed what was a successful chat forum
Always been a fan of this company and will see it to the bitter end unless it runs further than me. So hello to Geela, Isphahan and others who now have different 'stage' names. I guess the reason the original posters appear to have disappeared is like me they have changed their names. Also there's not much that hasn't been said before many times.
The NRR news is new and will get some working over to see what its really worth. Right now I'm trying to get a handle on the new terminologies. DSO is clear, BFO must be Blast Furnace Ore DMS I assume is a way of homogenising the grade for that that isn't DSO.
To ship 1-5 to 2MTPA from Bing Bong (Stage 1) 10 x 200tonnes heavy duty loaders would be needed to maintain stockpile at port possibly more to allow for maintenance etc.. One DSO/DSM/BFO ship can carry 80,000tonnes of ore. Ship loading by conveyor belt systems to berth location is 1200t/hr a great disparity with stock piling rates. 2MTPA shipments to China will require 25 shipments per annum with 15 day cycles. I suggest minimum of two ships would be needed running back and forth. Not sure how long the Bing Bong to China and back is but I'm sure its longer than 14days for one ship including unloading.
From the photos the sealed roads don't looked sealed to me but just graded typical bush roads. Susceptible to rain damage in rainy season. December-March? When working in West Oz mid 60s to 70s mined bauxite in the Darling Ranges to the refinery on the coast (coincidentally the site one down from the refinery SEC used to be Kwinana Iron & Steel is now Western Nickel!) was shipped by train a journey of some 30kM one way. Elsewhere other mine site and refineries for that company used long conveyors (from Google Maps they look about 30kM) but not sure of the maximum practical length. From an easterly point on the exploration are the distance to Bing Bong port must be around double that but maybe it should be explored to see if the limiting factor of a 5hour return road trip for 600tonnes per day per haulage truck can be worked around. Ship it to a central local on the exploration site and conveyor it to port stockpiling.
I'm sure information will become clear soon.
Lots of info here: https://www.nathan-river.com/projects
Great to see a few old names pop back. It's been a long ride.
I also miss iii, they managed to screw up what was a simple yet effective, well managed, bulletin board.
It seems that many of us that have been here for an age are feeling a massive shift in comfort of our holding here due to the recent activity.
There are two interesting things for me which make me want to hold out for a sale.
1. Mark Selby stating that the numbers coming out of car manufacturers is not reflective of what they are telling analysts.
2. The increase in Nickel within batteries and that it is here for the foreseeable future.
These two factors will have a massive impact on the Nickel price in the future and therefore our NPV. I want us to receive as much as possible when we are inevitably taken over
Has anyone heard from vertigo? He/She hasn't posted on here for a very long time.
Hi Geela - you must be psychic; I was just about to post that we only need to see you on here again to extend our 'reunion' and there you are!
Hope you and the family are all well over there in the US - you've got an interesting election coming up soon, I gather... ATB - sasa.
Hi Isphahan - your woes, not to mention the legal expense you incurred in finally getting your securities back doesn't surprise me, sadly...
The trouble with using a nominee name (which we all have to do these days, with everything being electronically traded) is the near universal 'pooling' of clients' assets within them. In my firm, which we set up in the 80's, we automatically designated everything, per client, within our nominee safe custody arrangements - it was a bit laborious in our doing that but, in the event of our failure (which never happened, I'm pleased to say), everything could be immediately identified as to which clients held what within it.
Sorting out who owns what in a 'pooled' arrangement is what takes the time and the administrators need legal / insurance cover, etc., in distributing holdings to whom eventually, hence the costs involved, not to mention the legal expense and huge inconvenience you were put to, in not being able to manage your stuff - so you certainly have my sympathies on that score.
Let's hope that never recurs and AMC finally rises to the occasion and then some! - sasa.
Hi Isphahan and Sasa!
Hope you are both doing well in these harrowing times!! Now feeling the worst of the wait is now over for us with AMC!! Put in 10 years and hopefully out with a reward in less than 5!!! ha ha lol Good to see you guys posting again here....
I am relieved to read that you also gave up on iii. I thought I was just a technically handicapped browser, -gladly I was not alone.
You are quite right. My broker at the time "MAN financial" went bust and although I was paying "custody fees" every month it took years and much legal expense to get my shares back -and all along one can not trade with them! It is scandalous the shenanigans that go on. I would think that when shares are held in custody they are safe, clearly not so!
After all we are on the LSE in the UK and not in some banana republic. That's history now.
What surprises me about AMC, is that nobody of importance sees the value in it. Even today with all this potential excitement, i.e. the iron ore project with the Glencore involvement, the EV explosion, the right nickel (sulphide), close vicinity to major markets, large resource of minerals, Adam Habib, decent nickel price -- one can still buy the shares at a next to nothing price. IMO the reason for this frustrating situation is the location - Russia. .....and we cannot change that.
The PR also leaves a lot to be desired.
Hi Isphahan - nice to hear from you, too (as Henners has just posted, today's becoming like a reunion of the AMC 'die hards') but it's nice to see most are still around and persevering with this old dog.
Yes, I do remember our long debate about things, Isphahan, on iii and, like you, I gave up on their site after they ruined it's 'user friendly' format which was a great pity.
Quite apart from our diversification differences back then, I recall that you had the misfortune of your previous noms agency collapsing under you but I think you said that you'd managed to retrieve everything in the end, fortunately but subsequently AMC's sp has steadily declined to add to your woes.
Ergo, if any really LTH ultimately deserves to 'get out from under' here and profitably so, it has to be you!
As for me, I've never 'averaged down' from my old, somewhat 'overweight', holding bought at 7.3p (diversification, again) but I've managed to recoup the, not inconsiderable, paper loss by a few successes elsewhere, fortunately, including Horizonte Minerals (HZM) in the nickel space. They have nearly double the resource of AMC and are much further down the development road with funding for their first mine, Araguaia, about to be confirmed. Vermelho (larger) is a bit further out.
The two mines they own are laterite ores, so HPAL is likely to be employed in the smelting (can be problematic ops. sometimes) but if you're convinced about the increasing demand for nickel now that EVs and battery storage, etc., are all the rage, it looks a good 'second string' to AMC, imv.
Spongeshare have an impressive report on it, if you're interested, as well as the HZM bb, of course.
Sorry for the 'off topic' bit here, folks but thought it might be of interest in the nickel space, fwiw - sasa.
Henners I most certainly hope this will continue to be an informative board.
This BB is becoming a school class reunion 5 years, 10 years, 15 years after the event. We will know for sure AMC has a wider audience when the uninitiated climb aboard and spout guff. Over the years we have (thus far) had very orderly and informative discussion around the subject matter. We were sensitively discussing Amur way before electric vehicles were even on the investment horizon!!
Im very new to AMC and i feel sorry for you guys who have suffered for years. Believe me I've been there. I actually feel quite fortunate to have only bought a couple of months ago. Ive no idea where the sp might go but i do think the future is quite promising. Firstly i'd like to see 2p broken and then maybe 5p by then end of the year. Beyond that will very much depend on what transpires. I do think though Glencore will be right at the centre of the off-takes when they're made binding. Hopefully as well any further dilution will be kept to a minimum. Mr Habib certainly voted that as being right up there as one of his aims.
Hello Sasa. Good to see you are still around. Since the changes on the iii message board I have lost contact with fellow investors as I could not get to grips with the new format. I have been so disillusioned with my shareholding, which at one point was 1% of the company, that I had more or less written them off. All bought before the 40p rise. I never sold any. My standpoint was that whilst the drilling was still ongoing, more good news would follow and that the £1.00 party was a distinct possibility. I had no exit plan in place, so it is what it is.
So, Sasa, here we meet again. Remember our long discussions? In hindsight -you were right, the lack of diversification weighed heavily against me during the disastrous performance of AMC.
Perhaps their is a glimmer of hope that we may recoup our losses.