I can't see PIs voting him out yet approving 200m shares. All I can think is that the other directors did
Hey BobTpt,
Its not really something that I hope but expect.
In my 10+ years invested here there has at no time been any problem with the Russian authorities, quite the opposite in fact.
We were granted 100% rights when we expected a JV and we are part of the Far East development programme along with various other initiatives to develop the Far East.
If it was somehow AMCs fault or lack of care to the process, or reflect Russia in a poor light then I would be concerned, but it clearly is not and they haven't.
Furthermore, I would expect AMC to have been talking to the relevant authorities throughout.
Not feeling anything of the sort.
An extension was submitted in case it was needed, of which I suspect hundreds of mining companies did similar.
It has now become necessary to use the extension and AMC and the appropriate agencies will work through the process together which will be governed by the Subsoil Law / Legislation
OTL, My original value was a very quick calc that I did in my head and made some future resource assumptions which I have now removed, hence mentioning it on here initially for others views.
Shadowless,
Correct, the secondary metals highlighted in the RNS are what the non binding terms must have stated they would pay for.
However, this is an improvement where previously it was anticipated nothing would be receiveable.
So presently items such as Rhodium, Cobalt, Silver etc. remain a benefit to the offtaker / smelter, but to an aquirer looking to keep everything in house it would have value.
Redid my calcs and it looks to me that the Rhodium in the concentrate could be worth about $500m (although the price is very volatile)
I don't know MD which is why I put it out there for others to respond as am having difficulty tying the secondary metals between slides 7 and 8 together and we need to bear in mind that presented in this way and completeness is new to us
I guess it depends whether you think the 0.084 g/t is based on per tonne of Nickel or DMT of concentrate that is expanded upon in the next slide.
JoeBass,
I think you need to check your calculations
CBS, that was where my calcs were heading, $1bn in Rhodium.
No idea how much extraction costs are, but won't have gone unnoticed by Glencore
Fully agree CBS.
Have a look at the Rhodium content and let me know what you calculate its value at. It caught me by surprise and so would like somebody else to check it
With the year we have all experienced, submittal to the 1st December deadline was always going to be tight.
At what point did it become unachievable, we'll never know, but my view is very recently and is not unexpected with how tight programmes can bunch at the end.
I am pleased that AMC had the foresight to submit an extension request well in advance and I don't have any concerns about it being granted.
My guess would be that approval only occurs once the original date passes as can imagine a Russian official asking why do they need an extension when its not late yet.
Whilst a little disappointed at a short delay, as a LTH focusing on the end game, nothing has really changed for me except for some new juicy numbers in yesterday's TEO RNS.
Seems to me that a lot of good content in the TEO update has been overshadowed by people's disappointment in the delay.
Am still digesting the information provided, however the full contents of the concentrate is interesting, especially the Rhodium it contains with the current price.
Astar,
I am pretty sure I know your other monikers on the other platforms and like on them, I have no wish to engage with you here. As such this will be my last response to you.
I have always believed in the end game here and added accordingly. Is it taking longer than I imagined yes. Will it still happen, I believe so otherwise I would sell out now at a profit and move on.
Whilst I will be right sometimes and wrong sometimes, i will always post genuinely whether that is in favour or not of what the BOD is doing.
Astar,
I have a single moniker that I use on here, ADVFN and iii.
Whilst you may be foolish enough to believe that I waste £70 a month just to have a seperate premium account on ADVFN, smarter people won't.
I won't be using my posting history to see whether I right or wrong, I will be using my portfolio profit as a true gauge.
Astar,
Whilst I remain extremely confident in the outcome here and have been open about my accumulation strategy including last year when I paused and recommenced.
During my time invested in AMC I have acted as and when I believed necessary to protect my investment.
This includes having collated shareholder information, compiled questions and asserted pressure on the board to which answers were received during the Crede deal.
Asked questions during the last EGM and made my feelings known to them regarding Brian Savage and the last set of options.
More recently I contacted them ahead of the AGM with my views on time lines and ensuring PIs had enough time to vote following any Q&A as the EGM was very tight with some posters complaining their votes had not been counted.
What have you done?
I want AMC to be involved in Kun Manie into production and into the future. Should the Nickel price hit the numbers some are talking about I want AMC to be holding as big a piece as possible.
NRR is a tool, to unlock the real value in KM, I don't want AMC investing anymore than they need to in the project
I dont believe for one moment that we will give away 75%.
I believe that we will sell say 75% for a tidy sum and retaining 25% going forward
Hi BB,
I think the offtake will be against one or both of the concentrates that will then progress towards a FFS in a few years with our offtake partner taking a majority position, with us retaining say 25%.
I am hoping that based upon the discussions they have been having with other parties, the upcoming webinar will provide a clear route and plan that they will follow.
BB,
The PFS was from a single concentrate and was obviously very reserved on what was would be receivable.
We now have two concentrates and are in advanced discussions with an offtaker with indications they want and will pay for everything.
That's my understanding too