Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Bank Holiday, Monday
As we all know, timing in the short term is important on AIM. I reckon we all suspect that if a new executive team were to be appointed they would want to be "convinced", if you get my drift. Not saying anyone would need to be bribed, you understand because that's illegal. I'm just happy to read that an impartial observer seems to think that we won't need to put it to the test. It's also interesting that there is interest in Ghana because if DR is looking to a regional solution he's going to have to take Ghana's national interest into account as he goes forward. Not to mention Frank Timis's interests in Burkina Faso. Damn, I just mentioned him I mean it.....
The opposition leader’s challenge is that the electorate seem to be in love with Gnassingbe’s massive infrastructural projects such as opening up small towns and farming communities with good road networks. hTTp://vibeghana.com/2015/04/13/the-togo-election-wind-of-change-too-weak/
I go away for a week and miss the funniest thing I've ever read about Gasol. Buxton's wail that investors and lenders are short-sighted. Oh no they're not. Even the shortest sighted could see that Gasol was being used as a piggy bank by its two owners. Who'd want to lend them money so that they could use it to buy "assets" of themselves? No one in their right mind. I'm surprised the price has held up this much this long really.
Bailing out, probably, if he can find someone to buy his shares. IMIC backed the losers in the Sundance stand-off. http://www.sundanceresources.com.au/irm/Company/ShowPage.aspx/PDFs/2796-93770933/MotaEngilAfricaAppointedtoBuildPortandRail In retrospect this was indicated when the debt was crystalised by Niel Infrastructues and Neil Petroleum introduced the Kuwait shenanigans into their RTO of NEW. Will Smith briefed an almost empty room recently that IMIC ought to change its name to Cameroon Mining because it certainly wasn't International Infrastructures. Anyway, unless IMIC pull a link to the Government out of the hat as per Guinea and Liberia (though neither of those seem to have come to anything) you'd have to ask just what it is that AIOG brings to the party. IMIC is now AFF by another name but with debt not cash but no longer stranded.
These people are unbelievable! http://www.investegate.co.uk/gasol-plc--gas-/rns/gasol-guarantee-of-aec-loan-notes/201405200700135196H/ AEC is a development company with total assets as at 30 April 2014 of CAD 4,463,285 comprising cash and prepaid expenses of CAD 199,525 and GOODWILL of CAD 4,263,760! That's a F of a lot of goodwill.
This Company is one of the best ever, it really is. No secrets. Guido Pas, part owner of GASOL, is directly involved in Afrique and there it is for all to see (so long as you look it up yourself that is). http://www.afrique-energie.com/about.php
Another insight into the ways of the Geneva elite. Benedict Hentsch "retired" at the end of 2013 and sold out his family bank to his unrelated non-family partner. The relationship between Hentsch and the owners of GAS was very personal and so the new name Bank clearly wanted its money back. Perhaps they were less happy than M Hentsch to see their money being funnelled directly to AIOG (see the RNS below this one). Anyway, that's the end of the Hentsch connection with GAS and AIOG. Or is it? Despite his misfortunes with Bernie Madoff, M Hentsch must have taken a fair sum away with him at just the right time to invest in the IMIC placing (the AIM front end of AIOG after all). Surely too much temptation to resist given the insider knowledge and the imminent announcement of the Etinde approval and the Sundance Infrastructure winner?
Sundance seeking UK investors/funds? https://www.nabc.nl/uploads/content/files/UK-Cameroon%20Trade%20%26%20Investment%20Forum%20Preliminary%20Programme.pdf
VMT. I don't want to point this up too much but the China connection with Cameroon is quite strong and I would have thought that WAFM would indeed be attractive to Chinese investors because of this. I'm not here to plug IMIC because I'm sure anyone interested in WAFM will have watched the pantomime takeover of Afferro with equal interest and formed their own opinion. I would say though that the relationship between the controlling party of IMIC, AIOG, GASOL and the President and also with various Chinese SOE suggests that the future is probably weighted that way. Reflective shareholders in BLVN might also agree with me. As an aside, WAFM and IMIC CEO's are sharing a public platform this coming week. See https://www.nabc.nl/uploads/content/files/UK-Cameroon%20Trade%20%26%20Investment%20Forum%20Preliminary%20Programme.pdf
Well, that accounts for 20m or so. Panetta Partners averaging down significantly. Interesting that no sooner has Gabriele Cerrone (sole partner in Panetta, I believe) achieved an Aim presence for himself through TILS than he increases his holding here. For background see: http://www.mishcon.com/news/firm_news/mishcon_de_reya_advises_alexander_david_investments_plc_on_reverse_takeover_04_2014 Noting that Saul Sender is the contact on the holdings RNS, it reminded me about Rosy Mining Ltd from this time last year (He featured there too). The lack of transparency with regard to Rosy was total at the time. It isn't any better now but since 14 Feb at least there is a Rosy Mining Limited and in Hong Kong no less. See http://www.coinfo.info/r/ROSY%20MINING%20LIMITED On the face of it the announcement of the Rosy holding significantly pre-dated the legitimisation of the company which is why WAFM would not give a straight answer about Rosy Mining when asked.. This would be mildly irritating if it weren't for the fact that Sundance are about to choose between a Chinese and a European company to supply the Cameroon rail and port infrastructure from which WAFM and also (perhaps much more so) IMIC will clearly benefit. This little indicator points to someone having confidence in the China option anyway.
And here's someone to help raise the cash to do it. http://www.investegate.co.uk/gasol-plc--gas-/rns/directorate-change/201404280700125982F/
That Sundance decision is scheduled for the June Quarter (Apr/May/Jun) http://www.asx.com.au/asxpdf/20140422/pdf/42p3t7m17xt1z1.pdf
Oh look! AFGEN really is worth the money that GASOL is going to pay for it.
Do you have a view on why Niel Infrastructure (a private company created in Sep 2013) crystalised its debt at this time? There seem to me to be two options. First, they see IMIC going bust before 2016 and intend to sell their shares asap to recover as much of their money as possible. The remaining uncrystalised debt is a hedge in this scenario. Second, they know that IMIC/AIOG is about to benefit from the announcement of the decision on the Mbalam Convention infrastructure contract and want to have the sort of influence on decision making that comes with holding nearly 30% of the shares as the largest single holder. (I take it that their interest is in the infrastructure because there's another Niel Company that deals with mining). If the first, then it won't stop at 12p. If the second then your prediction is doomed. Either way, the next couple of months are going to be quite interesting.
You might be right. The chances of infrastructure being provided have clearly just improved considerably. http://www.investegate.co.uk/intl-mining---38--infras--imic-/rns/tr-1--notification-of-major-interest-in-shares/201404150700188135E/ Xavier Niel, I believe. http://www.forbes.com/profile/xavier-niel/
Here's someone else who thinks so anyway. http://www.investegate.co.uk/intl-mining---38--infras--imic-/rns/tr-1--notification-of-major-interest-in-shares/201404150700188135E/ Xavier Niel, I believe. http://www.forbes.com/profile/xavier-niel/
Wandering around LSE posting links to investingsidekick is one way of passing the time I suppose. As for the content, it seems to miss the fact that IMIC ceased to be an investment company when it acquired Afferro and was then readmitted to AIM as a mining company. I'm no advocate of IMIC or a supporter of the two front men covering for AIOG, believe me, but the analysis seems to be shallow in the extreme. Guinea may be a nightmare and Liberia a dead end not worth mentioning but with the Sundance Cameroon Port and Infrastructure competition down to the final two and IMIC/AIOG on one (at least) of the teams, I would have thought the former AFF licences might be worth a bob or two. Then there's the contents of M. Gueant's and Mr Cooper's contact books to consider....
Are you trying to draw attention to the indications that Gasol, largely owned by Mr Cooper, is offering to pay money to a company largely owned by Mr Cooper not once but twice? Dear me.
"Huge vote of confidence in Sundance and the future development of this world class iron ore project (and region) by global trading giant Noble" http://www.asx.com.au/asxpdf/20140325/pdf/42nlt8bc7sxwv8.pdf "SDL's projects are the most advanced in the region and in our view, should be the nucleus around which the consolidation of region's projects would take place" http://www.asx.com.au/asxpdf/20140325/pdf/42nltqwypctj2q.pdf