The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Tomorrow is a ..... Wouldn't want to be out for the weekend ".... Lol
For those posters stuck in the past, looking backwards.... You do realise that this is now passing you by don't you?
:)
Worth remembering TW's comments re TK farm in and the cash that it would generate to advance Saudi.
Coupled with previous RNS and discussions with interested parties, future raises may not be necessary
Its fantastic news and highlights what a good time it is to take a position in this company.
Re-rates looking great for the short medium and long term
It's not about the Fear Of Missing Out (FOMO) anymore.
Within 3 weeks we will have Financing sign off and a significant rerate to the share price.
There is a real possibility of a sustained double / triple bag in the next few weeks and then further gains through towards production.
..... And this isn't even considering a farm in or the Saudi assets
Only a matter of time.
TW's bearcast filled in the gaps and provided pretty important additional info that the RNS didnt include.
Smellyben,
I have no intention of selling. My plan is to enjoy the re-rate from here up to and following financing and hold well into production. Simples :)
Only 3 weeks to go (could be 2 if TW's flippant comment towards a poster in his Bearcast happens)
As TW mentioned, for todays RNS to have been put out as it was, the Nomad would have seen the supporting evidence of the dates and validity of information.
I wonder if the funding and saudi update will occur in quick succession to give maximum effect of rerate
According to TW he was sitting on insider news re 2nd bank from HA
2nd bank was sitting on final credit committee meeting last thursday and it went through.
Everything passed bar formal sign off of loan, probably before end of the month
TW bearcast ..... "If you can't see that the project is over the line .. you need to get to Specsavers"
Luv it :)
The last placing was a surprise, however, the company now has circa 5m cash and is stating sign off within the next 17 working days at which point the share price is going to rocket.
Once finance is secured, mine construction underway and strong saudi assets involvement i think KEFI becomes a strong takeover target prior to production
An extra 10% .... whats not to like :)
With everything on track for financial close within the next 3 weeks and project now launching the days and weeks ahead are going to be exciting
Quite possibly something will be released very soon.
Looking back at yesterday's RNS, it does appear to have been a cleansing exercise that would be necessary before an RTO.
Not really any other reason to have released something so out of date
Fwiw, this is my latest email from earlier today
FAO:
Amur Minerals Board of Directors
Amur Minerals Remuneration Committee
Richard Morrison (S.P. Angel)
Adam Cowl (S.P. Angel)
Good morning,
The RNS on the 3rd March stated that the company expected to be in the position to issue the RTO Admission Document before the end of April 24.
Not only was this RNS issued the day before de-listing was due, it mentioned a Head of Terms Agreement signed months before which had not even been notified to shareholders.
It is now the end of April and there has been no Admission Document and no update on progress.
I have emailed the company and nomad previously with respect to the below points, none of which have ever been acknowledged or responded to:
Reduction in Director Salaries & Fees due to reduced work since sale of Kun Manie
Notification and cancellation of future voting rights for the huge share purchase prior to suspension (over 3% threshold) that was never notified
Missed corporate mission statement RTO date
Missed Kun Manie sale RNS second dividend distribution
No appropriate RTO available
With the sale of Kun Manie completing over 13 months ago and AMC having limited cash, the directors salaries / fees over this period far outweigh the current and any future value in their shareholdings.
It is therefore my belief that the directors and shareholders interests are clearly not aligned and that it is not in the best interest of the company to be spending substantial amounts of limited cash searching for an appropriate RTO which clearly does not exist.
Should a shareholder vote on the RTO occur in the near future, I ask that shareholders be given the option to clearly vote on the winding up of the company and distribution of the remaining cash
The lack of engagement, responses, updates and adherence to deadlines has gone on long enough. I will therefore be looking at the options available to me to preserve and return capital.
Kind regards
.....
It is why I am trying to press the company to state that should an RTO not be approved the company will be wound up, therefore giving shareholders a true choice when voting
Also why I am now looking into how a shareholder can have a company in the BVI wound up
Agneissearner,
"If the RTO is not approved then the Board should pay a second special dividend"
I think you need to re-read the wording. The second special dividend is for the remaining sale proceeds less costs.
There was a significant cash balance prior to the sale that they have not committed to distribute!
Agneissearner,
Let me try this another way.
Assuming the circa 80m shares you have been told is genuine, that probably has a residual cash value in the business of about £350k to those shareholders.
I don't think there is any chance of AMC providing any further guidance on the Tax treatment than it already has and i'd be very surprised if the combined tax value implication is more than £100k for those holders.
So where is the sensible place to focus? Recovering as much remaining value from the company as possible or trying to get an unlikely answer on the tax treatment for individuals.
Agneissearner,
You say that the point of the group is to be prepared to take action once the RNS is issued re the RTO.
Surely you realise that the time to make your wishes heard is prior to any RNS so that the company has to at least consider what shareholders want when tabling what would happen should a No vote occur.
The company certainly wont consider what zero percent of shareholders have said they want!