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As well as Proses, Julia Creek (St Elmo Project) and Deep South which all seem to be progressing positively,
I think update on this one will follow shortly?...
Australia 11th July 2019
‘Accudo Metals Pty Ltd ("Accudo") advises that it is currently working to deploy the licences it holds for Alexander's AmmLeach patented technology ("Leaching Technologies") across more than one project in Australia. Accudo has a licence entitlement for up to five mining projects (each a "Project") in Australia to use its Leaching Technologies, subject to securing commercial terms with the Project owners.
Accudo has recently submitted indicative bids to acquire or to be the lead partner in a number of Projects. The Chairman of Accudo, Dr Saliba Sassine, said it was in discussions and negotiations with asset owners or their advisors and is energetically pursuing its options to deploy the Leaching Technologies.
He added "We have identified several strategic opportunities ranging from projects that have substantial JORC 2012-compliant resources to established and fully permitted mines that are positioned to restart mining and having ores that are potentially amenable to the Leaching Technologies. "We are in discussions and negotiations with strategic and M&A partners to structure relationships that incorporate funding packages for the Projects under evaluation and bids."’
4th September 2019
"We are delighted to have secured this investment from new and existing shareholders to give the Company the flexibility for a POTENTIAL BENEFICIAL CORPORATE OPPORTUNITY ….”
Come on then, let’s be having the details !
Also news on this one is imminent…..
Hyperleach…’testwork is currently underway on a nickel concentrate from an existing commercial operation……...analytical results from the initial proof of concept work are expected in the next few weeks. ’
That was July 11th 2019………it is now 5 or 6 weeks on………so should be due anytime now
SP should get a hell of a kick on positive news……GLA !!
Nothing we can do about it...we need to move on.
It is what it is.
Companies upside potential vast.
Doesn't matter if it was a quarter price.......still potential to 100 bag from here !
If Proses is not a figment of Martin's imagination, the patents will be worth a lot.
The worry, which I had two years ago, is they will seek to steal it from the old shareholders.
This new crowd suddenly show up, grab more than 50% of the company, for HALF PRICE!
Despite the placing, the market price is still ~0.04p to BUY.
The placing stinks.
Nice one snowman, thank you for posting mate.
Have contacted Pierre (CEO of Deep South) to see how that's progressing.....will feed back.
The St Elmo Vanadium project in Australia is going to publish Env Statement soon so should have news on that front very soon as well.
GLA !!
Nice one snow.
It's easy to forget the positives/potential with all these shenanigans at play.
I emailed Proses and asked if the project with AXM was still going ahead, this is their reply.
'Hello Tim,
The project is going forward, the area for 100,000 ton/year ore processing facility has been designated and secured for plant construction by our company. the EIA report has been presented to government relevant authorities and getting construction permission is on the way. it is hard to say when but our expectation is to receive it by the end of this year.
Proses Engineering
www.proseseng.com'
So all sounds reasonably optimistic on that front.....wonder how the other projects going....I might email the other companies.
Nigel Burton holds 137,500,000 shares in AXM.
Somebody works out how he is going to diddle the old shareholders, please.
Somehow, if you bought in at 0.02p, you will make money.
We know that they could have sold for 0.04p a few weeks ago, so they were promised a higher return when they signed up to the placing.
4 billion shares, so 0.1p means £4million market cap.
Maybe they only need to buy 51%?
In fact, HE has 3.14% of the Company's issued share capital, so they only need 48%.
At 0.07p, it's ~£1.4million for 48%.
Will we still be able to sell our shares?
Certainly might be a surprise........here is an excerpt from Final Results RNS of one of Nigel Burton's other companies Tau Capital (currently suspended) dated 27th June 2019....Where he is currently still on the board as a non-exec director.
...'On 18 October 2018, the previous Board of the Company announced that the disposal of its final asset, an indirect interest in Stopharm LLP, had completed and under AIM Rule 15, the Company was then classified as a cash shell. The result of this was that the Company was required, within six months to make an acquisition which constitutes a reverse takeover under AIM Rule 14 or be re-admitted to trading on AIM as an investing company, failing which the Company's ordinary shares would be suspended. The Company's ordinary shares were suspended on 23 April 2019 and the Company now has up to six months from the date of suspension of the Company's ordinary shares to complete a reverse takeover or be readmitted to trading on AIM as an investing company or the Company's shares will be cancelled from trading on AIM pursuant to AIM Rule 41. Your Board is now working hard on identifying appropriate targets as well as considering other options. '
So......if AXM is the appropriate target that Dr. Nigel Burton, as non-exec director of Tau Capital (i.e. a member of their board) has identified, we will be involved in a reverse takeover before October 26th.
Strap yourselves in !
This might not be as bad as we think and we get a surprise.
I read it this morning and just thought oh great news, not.
I love how they highlight that liquidation is that suppose to be an achievement.
However liquidation is far from black and white so maybe managing it successfully really was and is many aspects to "managing it".
Joy.
Dr Nigel Burton was a director of Pease Limited within 12 months of the company appointing a liquidator in June 1998. The company was subsequently liquidated in 2002.
Nigel Burton is interested in 137,500,000 ordinary shares, representing 3.14% of the Company's issued share capital.
There is no further information regarding Dr Burton required to be disclosed under the AIM Rules.
Prepare for liquidation? The Terminator is here?
Hey Cannons, your right! This is nothing more than a pile of dung!!
i'm sorry for holders still in this, i can't believe its gone down to sod all, thought the management would do a deal. but it looks they are just desperate to cling onto their salaries as lets face it, who's gonna employ them again.
If anyone can diddle us its NB.
If you could have shorted at 5.5p, when the real price is 0.04p, that would be quite something.
A few days ago, BT.A was showing nonsense Ask and Bid overnight.
Do Androids dream in stock prices?
The really odd behaviour is selling more than half the company for 0.02p, but the spread is 0.035p/ 0.04p.
The Placees could have sold for 0.04p+ a few weeks ago, doubling their money, but they didn't.
For example, Proses wants to go ahead, but AXM is so cheap, they might as well buy the whole company, instead of paying royalties. They just have to use the new shareholders to vote the sale through, and that is the end. Obviously 0.04p is not the target price. If Proses would have paid £10million in royalties, they could be tempted to make an offer of £8m, which means 0.2p per share.
Non-executive directors are supposed to provide advice and independent scrutiny, so there is no requirement to buy shares, but Nigel Burton bought 137,500,000 shares BEFORE he is on board.
Let us say they talked to Goldman Sachs, Satan's Ministry on Earth.
They need the new shareholders to vote on a sale to Goldman Sachs at 0.07p.
They new shareholders bought at 0.02p, and sold at 0.07p, so they walk away happy.
Goldman Sachs then sells it to Proses for 0.2p. Everyone takes a cut, including Goldman Sachs and Nigel Burton.
If it was a horror movie, Nigel Burton is a vampire that smells blood, and has been preying on vulnerable companies for centuries.
And straight back to 0.
IG offer is at 5.5p for exchange open SP up 20%.
Have I missed some news and this is going up from the open, or is this a clerical oddity by IG ?
Sorry.
I rang Vlad this morning to arrange an appropriate time for a meeting but in initial discussions explained that it would be a total waste of time as he's already leached all tailings in Russia with a mixture of concentrated acid, radioactive sheep droppings and novichok.
Lol ICL.
Fly to Moscow, and tell Vladimir Putin we can leach his tailings.
He won't pay us, but at least it will demonstrate AMMLeach works.
All the hotel rooms have hidden cameras, mind,
but unlike Donald Trump, you can say the peeing is for demonstrating AMMLeach.
The crowd cheers!
Thanks Unknown.....just to demonstrate how seriously I take my newfound role.....I am going to make my first official duty to decree a national holiday as soon as we get the next blockbusting RNS......which I feel in my bones to be very close!
GLA !!
Personally I vote snowman as the ambassador for AXM.