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It does appear that AH has served his purpose at AMC and is moving onto the next thing.
Keep up the posting TDT, gently calling it right for the last 6 years.
Although totally disagree with the recent discussion you had with RL as why Tom was brought on board
Astar,
It is clear to everyone that you post under the moniker "Amjad" in the telegram group. I suspect that you
have a few others across the boards too.
But we have also been told that they were looking at multiple investments and made about a million from the warrants.
Working capital is not going go be anywhere near that level as we are no longer exploring and the likes of RYs salary can be classified within any BFS funding.
As to what we can can get for our money, we certainly got a lot for out money with NRR.
The fact is that a company has been set up in the same format by which we acquired NRR and there was obviously a reason the CFO felt comfortable resigning having just taken circa years salary in shares.
Looks like another company has been incorporated for a new AMC investment.
Courtesy of Robert in the telegram group
https://find-and-update.company-information.service.gov.uk/company/13058272/filing-history
You know what will appear on AMCs balance sheet Geng,
their income producing investment in NRR
Geng,
Why would I include equity dilution as debt when I know they are such different things?
Geng,
AMC is debt free
It could quite simply be that he can't afford to do another year of reduced salary or receiving shares in lieu of salary.
Outsourcing the function rather than employing a new CFO indicates to me that this role is not required medium to long term.
It seems to me that any submittal deadlines to the end of this year have been suspended and it is up to AMC to set the date within the next 2 years.
The below link is a bit clearer
https://www.rosnedra.gov.ru/page/437.html?mm=686&ml=271
Yes, it's very reassuring to see Russian agencies making changes to law & government decrees specifically to deal with issues caused by Covid 19.
I'd imagine pretty much all 2020 deadlines have been suspended.
Was doing a bit of digging to see if Rosnedra have issued any guidance on 2020 deadlines and found the below.
I have always believed an extension would be granted and judging by the below feel there is no risk.
https://www.eversheds-sutherland.com/global/en/what/articles/index.page?ArticleID=en/coronavirus/Coronavirus_Changes_in_legislation_in_the_field_of_subsoil_use_and_energy_Russia
Worth noting that AH was not removed, he stepped down as I think one is required to at each AGM and the votes meant that he was not reappointed
Absolutely no reason that the BOD would be required to put such a derisory offer forward to shareholders.
Fair play, can confirm that myself and RL were exchanging financial model spreadsheets.
Good to see you back
Agreed Sasa, I don't believe it was him.
For those who did not vote, I think it would be a good idea to let AMC & the Nomad know which way you would have gone.
At the very least it will give an idea of the support they could expect if they table something back to us.
For the sake of a quick email, it might make a difference to what happens next.
To:
info@amurminerals.com
contact@spangel.co.uk
Subject: AMC AGM Result
Dear Sir / Madam,
Following the recent AGM results I would like it to be known that whilst my votes were not submitted, i would have voted to re-appoint Adam Habib.
I control XXXXXXXXX AMC shares.
Kind regards
XXXXXX
I am presently awaiting a call back from the Nomad to see whether my votes made it in.
Appreciate your openess.
It seems to me that despite all of our differing opinions, the one thing we would'nt have done (whether we did or didnt vote, is vote against Adams reelection).
If as the legal statement suggests this is not what the BOD expected, then we have an entity / entities that don't want the asset security, contacts and financial plan that Adam brings to Kun Manie.
This does concern me. Not because I dont think we will make a good return, but because we might not make the great return possible if an early low ball offer comes in.
BobTpt,
I disagree, PIs being perfectly happy with everything are even less likely to vote.
The recent EGM which was one of the most important votes to date had just 3% voting of which a good chunk were mine and the boards.
I suspect many shareholders felt similar to myself in that the resolutions were ok and had confidence that their was now a financial strategy developing under Adam that would hopefully result in no further dilution (regardless of past performance).
The worst i invisaged happening was the 200m share issue authority being rejected, which didnt really bother me as they would either be able to deliver on the plan of no further dilution or have to come back to us later.
We were complacent and as a result something very unexpected has now occurred.
How did you vote if you don't mind me asking (no judgement with how you did or if you did).
I suspect you did'nt like many of us, but if you did / would have, based on your grievences, would you have voted against Adams re-election?