Member Info for Catchingpigeons

The proposal is that Redbird are looking to buy out and buy up your shares for 6p each and if enough people agree to sell their shares and that amounts to over 75%of eligible shares out there ... then my understanding is they will then assume control of the project and company and then Delist Baobab from Aim but possibly relist it at a later date as a Private company. By doing so this will mean the shares will not be trading on any particular stock market but it would enable u to retain your interest and stake in that company but with no easy and simplistic way of trading your shares - now that is a very simplistic explanation and to some very experienced investors out there would maybe consider that a viable option - me I'm out of here I will take my cash and lick my wounds I think As to what happens next I would assume that shortly all shareholders will be contacted explaining the offer and asking you to vote yes or no to the 6p offer - if yes and it gets passed u will receive 6p for every share you hold - Redbird would take full control De list the company off aim and any one not selling becomes a holder of shares in the new venture but realising some of the restrictions in trading ur shares etc - if the bid is rejected and no others come in to better it - then I would imagine major funding issues will apply and unless secured pronto I guess the share price will tank - I'm not sure that's doing anyone any favours but clearly wtfdik - I'm not on my own sadly to say GLA -there are some fantastic posters on here and I wish u all well fellas

Well I'm so disappointed with that today and as most on here know ive backed the board all the way but this is a really sad end to what most on here would have expected - but sadly this is Aim and having had experience of BHR I've also seen the board dilute the company to nothing and see people lose everything - and it ain't nice .... getting finance and backing appears almost impossible cos if a project like this has struggled God help the rest of them - look let's not beat about the Bush to most long termers this is a total kick in the nuts as our average is well above 6 I would imagine so this deal comes no where near and one can only hope some alternative bid arises but I wouldn't bet on it - so what do u do - run with it and get some cash out or fight it and potentially lose everything including ur shirt just like in BHR - which I have to say when the share was trading at 0.02 was probably worth it ...but at 6p at least they have tried to get us something .... Albeit it's doesn't seem like a positive right now ..... we deserved better and it's another painful lesson and a sad sad day

Good find MP the devil is always in the detail somewhere !!!

Look fellas I admit I am a tad biased here and have a slightly different take but I do understand perfectly all the frustrations anguish pain and disappointment whether that be with the share price, lack of info, not replying, time delays, falling steel demand , it goes on and on because the plain truth is we all would like our rewards sooner rather than later and why not for goodness sake ? - but on a positive note Baobab is actually evolving before your very eyes and doing so in tandem with an ever rapidly changing world which in itself demands from its players an innate ability and instinct to see that and change with it - and there in lies the differentiating factor - It appears to me crystal clear that right now or even any time soon the harsh reality is that no JV player will take any unnecessary risks whatsoever and with slowing and falling steel demands elsewhere and the corresponding knock on effect - on the price of pig iron has left us with little choice but to review our plans - so surely with the help of a state backed wealthy Chinese suitor looking to enter into the local market in Mozambique and go down the rebar route amongst others makes perfect sense to me - furthermore how difficult has that been to manage ? even when u hold all the aces let alone just a couple . What I see happening is a massive transformation and surely it just has to be the right way to go given the changing landscape, as we were even more so now with hindsight highly probable to be in serious schtuk at some future point - I find it scary to think how much background work, planning, rescheduling not to mention negotiating - has gone into all this - it must have been huge as it totally changes so many components of the previous game plan almost on its head and to do it midstream in a project - is a massive achievement imo and their courage applauded for doing so Having said all that I also realise that when people ask questions and get no answers it breeds uncertainty and that creates a raft of issues in itself - so whilst I can't defend that one iota I can say to completely remodel the master plan midstream and virtually rewrite a DFS - is an incredible effort - More relevant it now explains why some of the other info which we had been expecting has not emerged - and that sadly again is half the problem -u know the what's - but u don't know the why's - and when u do - u may still not agree with it - but at least u understand - look I don't know anything except I have always thought we are in safe hands here and that update today has reinforced that - but like with most things in life - only time will tell I guess - have a great weekend fellas GLA Apologies for the long post

There's been some pretty valid points made on here today and the closing sp is a real kick in the teeth considering some months back most of us on here thought the Almonty offer of 5.7p was taking the proverbial - Spindok and Mr B are also spot on in their withering assessment of the pathetic timelines that the Spanish authorities have taken to get their act together which has undoubtedly compounded matters. Add to that the deafening silence over the past 3 months allied to some of our bigger II's selling out - and it was probably telling us there were clearly issues afoot - and so it's proved - that all said on reading the Oak tree investment strategy it is pretty clear they're no mugs and well loaded - they also look very closely at minimising risk maximising returns and only opting for projects where success and performance are pretty much assured in the foreseeable - well we already knew that but clearly despite all previous assurances when it's come down to the crunch Swedbank and the money men have found it far harder to strike a deal than first thought - the problem is until the finer details are made public it creates uncertainty - ant that means it's going to be a tough time ahead - those 2 big sells haven't helped late on either and sadly it's left us all in limbo and I admit to expecting better than that .

Great news today lots of encouraging things in there - and no doubt like a few people it's just getting ur head round it - or is it me ? having had to re read it so many times my take on it after all that -is that a deal has been agreed with due diligence having been completed by Oak tree with the timeline from now to 10/4 being the formal period in order to dot the I s and cross the t's . Good stuff - Additionally , we also have a loan agreement in place to cover working capital needs over the next few months to get things rolling - with the bonus of avoiding too much dilution short term which should support the split in the meantime hopefully - the other good news is that some major progress has been going on in the background re the preparation and construction works with a raft of agreements signed off or due to be imminently which is most encouraging - the only concern for me though is the split of debt and equity agreed between Ormonde and Oak tree as there are no clues - which I suppose is fair enough -if still in the exclusivity timeframe - except that oak tree will effectively own the project -with us managing it - and being paid a fee for doing so - as Awax rightly says the take off agreement will generate a lot of cash over the term so I'm not sure how all this will now transpire -until that finite detail becomes much clearer- one would certainly hope the advisers have earned their chunky commissions here for all our sakes - and that the deal ultimately rewards ormonde and it's shareholders favourably - I very much hope so as this should be the lift off we need - to be fair to Kerr and his team they've run this really well to date so I'm keeping the faith it is a good deal for everyone fingers crossed it's happy days ahead GLA

As per my last post in early Feb it's no surprise is it ? As to what's happened although the demise of AFE isn't down to Clarke and Karim that's for sure but from the second either of them got involved and u did even some basic research on their track record and history - u never really got the feeling they were people destined in life to serve the interests of others above themselves did u really - and why would they ? It's been quite a crafty plan in truth first getting the shares suspended and then coming up with a half baked scheme to invest in something close to the deadline to raise hopes that it may all work out only for it to fail at the final hurdle and let u know the day after the time line runs out - pathetic - I always knew the risks here and the inherent risks of investing on Aim and I can only blame myself for doing so - but it still leaves a horrible taste in your mouth all the same - someone switch the lights off please

People like u make me smile as well Mikey as I thought this was a public bulletin board available to all members and not necessarily restricted to actual share holders - u can still have an interest and u can still have an opinion just like u two learned chaps - it's also healthy to share differing views and get a different take whether good or bad and people can then decide to agree or disagree -that's the whole idea of these things to exchange views and promote open and frank discussion - so for me the views of posters like salty Pete and Bhoy George shud be welcomed and encouraged as more often than not they support their thoughts with reasoned argument and ultimately if u don't agree u ignore it but that's ur call -But like all things in life u can't have ur cake and eat it can u as just 2-3 wks ago I vividly recall Watch Mav airing his positive thoughts and requesting that no negative posts shud be aired as that wasn't what was needed was it ? So to my great surprise what do we find today foll the RNS - that very same person suddenly do an abrupt about turn and suggest KB sell all the assets pack up and go home -just like that 3 weeks on ....er right .... as if that's going to happen ...unbelievable Jeff !!! Its like the TW Bearcast irrespective of ur view of the man himself - the reality is he gives a very blunt and withering assessment of KB and the boards actions during their tenure -and a lot of what he says (albeit with hindsight afore thought) is bang on the money - the ultimate tragedy is that a lot of very loyal and long standing Shareholders like ur goodself have lost 93% of their investment -and a massive chunk of that has now happened on KB s watch so IMO so to be brutally frank he shud be proactively slashing all aspects of his salary package -because sadly the truth is u can't defend the indefensible - whatever ur stance Good luck Mikey I wish u well fella

Stop ramping u great guy lol actually mate it's great to see ur faith restored fella cos that's what it's all about - we are all here for the same ultimate reason to see a return on our investment - so having a renewed belief and confidence in what uve sunk ur hard earned cash into is reassuring if not the more tangible currency of a decent spike in the sp - but that will surely come if things keep progressing as they are - have urself a good weekend fella and ditto to all on this board

press officer at Ormonde - 1 press release every blue moon - well remunerated - cushy little number - that's it really apply within. The silence is deafening I just don't understand why nothing has been released on progress given the appointment of a specialist finance broker well before permits were issued and statements made inferring that matters were in hand -particularly so given we are nearly 3 months on from that fantastic news - we have off take arrangements secured and all the project economics add up with a world class tungsten asset to boot - and yes I fully recognise that raising cash for Aim companies is never going to be a breeze even with all that derisking -but I can't help thinking with each passing day that it's really disappointing that the company have not issued an inkling in updates since 21/11 and that's very strange given where we are and poor dice imo .Look I've never doubted Kerr and the team since investing here and I'm sure they're working their socks off to get a deal done but why no update especially given the time it's taken to get this far ? - rant over - nothing more from me now on this subject I've said my bit - GLA come onnnn Ormonde !!!!

Is the one u need ive looked but cant see what happens at this point - what the Big RNS states is that the next set of conditions a-f I think it was of the arrangement needs to be met by 31/3 /15 so I can only assume as the investment process has started -then maybe the deadline is extended until that expires- but i truly do not know tbh so if any one can enlighten us please do so GLA

I'm no expert on the legal side but would have thought yes ur assumption would be correct unless something happens fairly sharpish - I also admit to being totally convinced Clarke and Karim were in this to obtain a potentially world class asset for peanuts and to run it down like they have by trfing AFE to an investment company thereby giving them 12 months grace to make a few noises exactly as they have only for it all to fall at the last hurdle resulting in a de - listing - now I know that sounds very cynical but that's what it's pointing to - I hope I'm utterly and completely wrong and a miracle happens very soon but can't see it given the deafening silence since the last RNS - truth is the dire straits Afe got into in the first place isn't or wasn't anything to do with them but the less said there the better - never say never I suppose but the signs aren't looking good

Typo ... Uve .... apologies

Excellent post mate - spot on I've done us proud - thank you

I agree fella and it may happen - but tbh mate its Peakviews RNS is the one that will tell u what u really need to know 😃

Thanks for the updates u great guys - sounds like it was well worth your while attending - so can't wait for the extended highlights - thanks again fellas much appreciated

Just done a little bit of digging about Sinosteel and China Metallurgical group and they look pretty handy suitors to be courting and who appear to be highly regarded and very much specialised experts in their field and appear to have the financial muscle to facilitate the all important progress in getting us to the next phase -before ultimately opening the door to the big one - namely the funding requirements but hopefully within a much shorter timeframe - one would certainly hope that standard chartered with their far east connections would have played a pretty big role in this so maybe today will actually reveal whether they have added anything since their appt - one would certainly hope so

Mate I'm not retracting too much of what I said but having digested further I would have to confess to saying there are a lot of things they could have updated on but chosen not to for whatever reason -so maybe the AGM will be an interesting one today and perhaps they may really have to earn their corn after all .

Morning fella hope ur well - now I'm no genius by any stretch but if that RNS doesn't give u some hope that this baby is going to fly at some time very soon I'm not sure anything would - to be completely fair to the board u couldn't ask for a more informative bullish and totally exhilarating update than that at a time when sentiment hasn't been great and understandably people were getting justifiably jittery about whether their investment was taking them - and rightly so what with falling prices and a stalling recovery but I've always been supportive of Baobab and backed them throughout as the people in charge have always been transparent and displayed more than enough nous to clearly prove they know what they are doing - and that is worth a lot - but like everyone there will always be an element of uncertainty as money is an emotive issue and one can lose it far faster than earn it - for me today is another massive building block for me and i am as confident as I need to be that this project will now ultimately deliver its investors not only a well deserved reward for their patience but a sustainable one for many years to come - we all know the fundamentals are mint we now know a big big Chinese player will soon come on board - ultimately production will be some time off yet and that gives commodity prices a chance to recover just at a time when we would need it to most - so well done BJ and JD u great guys - I can't fault u boys -happy days fella for me so hope u feel justified in hanging on mate GLA

Pico good luck mate whichever way u Jump as u have faced this demon a few times now and beat him away up to this point - so I guess u can only go with ur gut instinct fella as that usually serves u best in my life experiences to date - ur disappointment which I also recall u mentioning previously in that u have had no response to ur emails can be construed 2 ways - good or bad and that's the conundrum mate no one knows for sure - do they matey ? Paradoxically ,me I'm the precise opposite I'm so excited about the next few months (the missus thinks I'm nuts-she's probably right tbh) as in my little world everything is pointing for the next few months to be a clearly a pivotal time and the conclusion as to whether my investment here3-4 years back was either a masterstroke or a complete duffer and I think and hope it will be the former - that said I'm not daft enough not to think it will all go swimmingly cos nothing ever does - but there has always been a plan here - a carefully mapped out one and one that changes and evolves as and when the goalposts move and I like to see that - furthermore it's one that makes complete and total sense even to a simpleton like me - some recent experiences has taught me investing on aim is not for the faint hearted like staying in Bhr for example .... aaargh when I should have bailed out long before ...but I just don't see that happening here - and conversely I have loaded up at these recent lows and done the total opposite to your good self as I see it as a massive opportunity - that's not to say I'm right of course - i may not be as we all pay our money and take our chance but what it does say I guess is that ive got total belief in what I've undertaken and so my friend if the same applies to you then u stay - but if u haven't u cash ur chips move on and don't look back in anger (I hear u say) - so whichever way u go - good luck pico u great guy - but it's tough call fella and we have all been there mate trust me !