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"Return the capital to shareholders". Don't be silly, it's worthles and even so, where else would they get their golden eggs from?
I will KM obviously knew it was a terrible deal but doing a rights issue or such would have cost a fair bit in fees and may not have been subscribed to as shareholders tend to sell out on the announcement and then you can buy on the market at that price so nobody participates so it contains more risks, so I donโt think it would have necessarily been a better situation. Iโm more keen to know how the value of Amapa can be realised so shareholders can see some returns without further dilution.
Get it to 67% ore PFS and fully licensed and then sell it on (some or all) and return the capital to shareholders.
Loverly day bannor the sun is out here
....morny morns MB / Eric / MD๐
...should say that's all in my opinion obviously & selling my recent purchases depends very much on the reasons for amy significant rise ..... just gotta make sure I do it before they probably raise on the back of it ............again ๐ .... the response received by you @Struv made me chuckle some I have to say ..... they find it difficult in current markets to raise funds so as a result give over 9% of the company away (+ equivalent warrants) at a ridiculously high discount ....although ultimately again it's the fault of those that voted for the resolutions at the last AGM - you gave them the permission to do so rather than coming to us & explaining why they needed the funds & potentially raising at a much more reasonable SP without so many warrants ..... still as I said that's on the shoulders of those who approved the raising capacity & pre-emptive rights resolutions.....ho hum another glorious day here so out in the garden soon & Tennis later ๐
....view it as you wish @ Struv ... only ever said it as I see it .... just most people don't like historic facts getting in the way of future hopes & delusions .... I've been saying for ages that Amapa is our last chance saloon & said it again yesterday so haven't changed my position..... it's a shame that people's hopes and wishes get dashed on the rocks of Cadence (nee REM's) failures but there you go it is what it is.
but indeed yes I loaded up over 400k recently specifically to offload into any rise (if it happens) for a quick 30% / 40% but I have more on an average in the mid teens that I'll feel better hanging onto if I can get some decent profit on these last purchases .... AIM shares are not for long term holders & if you can see a potential quick 30% anywhere best thing is to grab it ....done it recently with 2 other AIM shares & gotta say it feels much more rewarding than the last 12;years of hope & failure here.
Is that Bannor offering words of encouragement to fellow posters I see? ๐๐
Or is that because you have loaded up with a few extra to dump into any rise and prefer to have jimb2 back onside? Who has remained positive throughout but is having a change of heart of late. To assist with pumping the sp back up? ๐คฃ
Either way love to see it Bannor ๐ 15p would also see me gone with the wind. Gone are the days hoping for 30p+ with this mob in charge
GLA
....& I'd take getting offered 3.5 for 300k can't be a bad sign, as I said I don't think our placee are selling (at the moment anyway) & if they're prepared to take 300k they should be confidant of moving them on you'd hope ...... seriously though news from Amapa could come at any time for any number of reasons & whilst potentially disappointing I'm hoping otherwise or I'd have sold rather than bought recently ..... Chin up we woke up this morning & it was another fabulously sunny day here again today ๐
....& of course we still have Amapa to cling onto .... our last chance saloon IMO ๐ค
Oh I hadn't realised positivity & enthusiasm were time limited to 10 years ๐...... though if our BoD had made better investments, better choices & not backtracked on statements made the wait might have been somewhat more fruitful & bearable huh ....
I got a trade price of 3.5p for 300,000 late this afternoon, NT above - you shouldn't be surprised at my change of view it's ten years this month for me -
Oh dear @ Jimb I guess it falls to me to ease your disappointment & despondency ..... if it helps you weren't the only one taken in by we're not going to consolidate (we consolidated) we're not going to raise at this level (& we raised) ....to be fair though it wasn't at that level it was much much worse .....but you're not alone many have arrived singing songs of sixpence & huge gains over the years and one by one they've given up after repeated disappointments .....
But genuinely on the plus side I do not think our placee has sold down much (if anything) which hints to me they might be holding & that might be for a reason oh & don't forget the BoD options at 29p ..... OK that last bit was a bit of a pizztake as I can see any decent rise being sold into .....heck I even just grabbed 400k @ an average of 3.6 specifically to do so, first time I've bought specifically to sell into a rise but figured if you can't beat em join em eh .... I'll hang onto the bulk of it as my average on the rest is mid teens so might have to wait a bit to offload the bulk ..... but hopefully we'll get a buyout offer before then anything 15p+ would get a yes from me right now ...how expectations have changed ๐คท๐ปโโ๏ธ
I agree. The leadership has lost all faith. The only way I have seen out of this hell hole is by averaging down in the hope that I see 10p plus and get out sooner.
I did contact the co a couple of weeks back demanding an explanation as to why the Increase in stake and a massive discount raise smashing sp and sentiment even further into the ground and you wonโt be surprised by the response. See below
Dear Dean,
Thank you for your email. Your comments here have been passed to CEO Kiran Morzaria.
The markets have been exceptionally difficult for small cap mining and exploration companies over the past few years. AIM listed mining and resource companies, and companies investing into the sector have almost without exception endured challenging conditions. These conditions mean that if a Company needs to raise money it has to take advantage of the opportunities as they become available.
Like you, Kiran is a shareholder in the Company and is fully cognisant of the situation. If you look back through announcements over the past few years, you will see the board regularly purchase shares in the company, and most recently (October 2023) Kiran purchased shares at 0.074p.
I sincerely regret watching the last two stockbox videos with KM and that confident demeanour has cost me.
Unfortunately.thats what makes a good con man.I still believe in Amapa,but now have doubts about the Leadership after this latest debacle
Jimb/ I did tel you we were broke some months ago
@Struv5,
I'm sure EMH sinking to 12.5p has a great deal to do with it, I was hoping that KM would follow up with an explanation - I'm not sure any answer would restore any degree of confidence,
Hi jimb2
Have you tried contacting the co to demand an explanation as to why we increased an extra 1% when we did and then the massive discount raise?
Unfortunately @MJFMSG as things appear at this moment in time the bod seems to have reduced us to a company on its knees or a least the last cash raise paints such a picture and for any potential investor looking for an interest in Amapa weakens our bargaining position, well that's how I see it with one eye on EMH to see if we sell down to raise cash.
There lies the problem if we are dependent on EMH coming good short term then why hold in KDNC?
Of course the dilemma now is any project news will be treated with scepticism unless it covers securing project finance, I would like to know the explanation on the timing with that 1% increased stake, and of course we now have the legal bills for the Sonora challenge whatever and whenever they need to be covered.
And of course we know talks are ongoing with investors in Amapa including mining companies, I doubt any news on technical project developments will move the SP.
I sincerely regret watching the last two stockbox videos with KM and that confident demeanour has cost me.
All the ranting and raving is over now i take it , And all of us who were daft enough to finance the directors high living standards are on our knees in dept ; thats life
Successfully screwed wages out of mug punters for the last decade. That's it
We at DEV Mineraรงรฃo are obtaining all the necessary licenses to be able to operate in our mine and in our port, legally and in accordance with the guidelines required by the local authorities of the state of Amapรก.
Because, since the beginning of the resumption of operations in the Northern region of Brazil, we have been carrying out all iron ore operations in accordance with the environmental legislation for our segment and the safety of everything and everyone involved or located in the vicinity of our operational base.
Complying with the necessary rules, we are already well advanced in the steps that are appropriate for the presentation of our licensing and, effectively, start activities in our mine and port facilities.
Below, we have listed some examples of the licenses and permits that all mining companies need to have:
๐ prior license;
๐ installation license;
๐ operating license.
๐ mining authorization;
๐ Mining Registry.
I would like the list of KDNC successes too !
Indeed @ghin I could fill the board with other reasons A_L.O has attempted and still is to steal the concessions - banning open pit mining the latest, he might use water shortage/ environmental excuses and then just go ahead and deploy the army so none of those apply - however if you look at other clay projects in the US they aren't going to plan and so I don't think you will see anyone taking on a Mexican project given the commercial and technological plus the antics that Morena have used - Thacker Pass is still raising cash and the next Nevada clay project isn't having a good time with a 30% drop yesterday
https://www.mining.com/century-lithium-shares-down-despite-clayton-valley-project-feasibility-milestone/
I think Ganfeng were the best option for the Mex gov - they would likely have been producing around about now and maybe a battery plant under construction - I hope we and Ganfeng continue to international arbitration.
Even if it does overturn it, I don't expect much. These semi-democratic governments have a way to stick to what they want. Not to mention that the justification of cancelling our tenures weren't closely tied to these laws. We'll definitely go to arbitration and settle for something ridiculous.
Https://mexicobusiness.news/mining/news/minings-great-challenge-legal-certainty
Q: What are the latest developments regarding the Mining Law and what is the most important factor to highlight?
A: Last January, the draft resolution by Mexicoโs Supreme Court regarding the unconstitutionality action filed by opposition parties was presented and scheduled for discussion for April 9, we now know this has been rescheduled for the month of May. We hope the Supreme Court will overturn the decree in its entirety, given the multiple irregularities seen during the lawโs legislative approval process.