Member Info for GheeBhee

Xmas 2014 is that? I wish you luck. Meanwhile, back to the AFF/IMIC tealeaf reading session. Have you noticed that the AIM RNS referred to on Monday has been replaced with one that doesn't purport to come from IMIC as well as AFF? With three amendments already under their belt it seems a bit late to become all coy about being in this together but there you are. I'm sure it has little significance in the bigger scheme of things and that the powers that be behind this deal are as wedded to it as they ever were. More egg on the NOMADs' faces, that's all.

Have they issued the Re-Admission Document or is it due out this week? Anyway, you kindly asked my opinion, which is of course a contrarian one. I am concerned that, with two organisations that are so obviously in bed with each other, they are having to negotiate a new outside date. Note that the announcement purports to be from both of them but actually reads as though it comes only from Afferro. That said it does appear on the IMIC website but this RNS could be interpreted as an indicator that an exit route is still an option. Remember, my position is that this stalling is not about funding or complexity, it's about how the IMIC bid for the SDL PRI contract is going. The Jindal takeover of Legend has a similar perspective.

"It is currently anticipated that the AIM Readmission Document and notice of general meeting will be posted to shareholders next week and that the general meeting to approve the Acquisition will be held in the week of 16 December." I also see Mr Cooper, and anyone else involved in AIOG for that matter, is doing very well arranging themselves a generous Christmas present of free shares.

Regulatory mandated update! Now that is funny. This is the end of 2013 not the beginning of 2007 and there is about to be an AIM Re-Admission Document, as required following a proposed Reverse Takeover, issued and voted on by IMIC shareholders. Or is there? As for the 60 billion share dilution, it presumably is meant to make up for the money to be given away to current shareholders and the cash gifts to the AFF option holders. Or it could be to fund Gueant influence initiatives and infrastructure projects in Guinea, Liberia and Cameroon. The latter would not necessarily require the RTO to go ahead, of course.

120m worth of equity is a lot to ask for from shareholders of a Company that is just about to become a new legal entity.

If IMIC are very, very soon to reverse into AFF, why are they proposing to alter their current Articles of Association at the AGM in December?

I'm not sure that posting an up beat assessment from Jun based on the report of a Company that is now employed by WAFM advances the argument very much in light of Mr Mills statement in Oct. "While we had hoped for a greater degree of enrichment and thickness of enriched mineralisation, the mineralisation outlined by this work will potentially make South Djadom Block 1 a satellite ore body to the adjacent Mbarga deposit. The opportunity exists to increase the Mineral Resource base in Block 1 with additional drilling, although the scope for significant higher grade mineralisation appears limited to date."

In-house recently appointed broker target. There is no avoiding the reality of a falling short on original expectations. This share more than ever relies on SDL making progress on Mbalam.

IMIC leadership have a lot of friends and family, some with very deep pockets. That said, I'm staying well clear, whether or not the recent GASOL cash is actually available to bail out their AFF bid or not.

Did you see the excellent news from Gasol (IMIC's landlord, largely owned by you know who) earlier this week? http://www.investegate.co.uk/gasol-plc--gas-/rns/draw-down-us--30-million-on-new-euro-medium-note/201310280700124799R/ The cash probably didn't come through quickly enough, hence the egg on the NOMAD face.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01459417

As it stands at the moment, IMIC have assembled a consortium that might be awarded the port and rail infrastructure but Sundance have the MOU that really counts (the Mbalam Convention) in that regard. The IMIC/AFF/AIOG pantomime timetable and the Sundance post Hanlong resurrection timetable (for their JV and infrastructure announcement) are however becoming increasingly aligned.

Thank you for asking. I think this looks like a cock up between the NOMAD and the AIM administrators. The NOMAD, no doubt on instruction and for reasons we can only guess at, was (IMO) overly precipitate in issuing the de-listing notification; they only need 3 days notice after all. The AIM administrators presumably didn't pick up on the latest delay, whether or not NOMAD contacted them to point out their (the NOMAD) error of judgement in notifying de-listing with so much conditionality attached to it in the first place. I support the egg on the NOMAD face option this time but - big but - I suspect this may be a part of a deliberate strategy to further destabilse PI faith in this deal. This will open up an interesting opportunity for IMIC to buy up its own debt cheaply if this deal does go ahead.

More egg on NOMAD's face or a conspiracy to de-list AFF from AIM ahead of IMIC shareholder approval. Where's your money on this one?

This being a new company formed through a reverse takeover of AFF by IMIC a completely new Admission Document is needed. I "bet" you get "our advisers are putting the finishing touches to it right now" if you were to ask them.

There is no honour or pleasure in betting on a certainty, even for charity. It isn't so much that you were wrong but that you were so certain that you were right that irritated me. Even the simplest of research would have indicated to you that you were being falsely optimistic. As for IMIC and AFF being on different "sides", you clearly haven't looked into the background of the key individuals in AFF, IMIC and AIOG, observed the level of close cooperation between AFF, IMIC and AIOG and then drawn the obvious conclusion. The stuff that goes on in public view is only a small fraction of what is really going on and what is really going on revolves around Sundance negotiations and the Mbalam Convention. IMH and untutored O of course.

http://www.investegate.co.uk/afferro-mining-inc---aff-/rns/amendment-to-outside-date/201310231200042132R/

On the one hand.... hxxp://www.sedar.com/GetFile.do?lang=EN&docClass=13&issuerNo=00029954&fileName=/csfsprod/data147/filings/02085635/00000002/s%3ASEDARAfferroMining3Second-AmendingAgr2013.pdf "Outside Date means October 31, 2013, or such later date as may be agreed to in writing by the Parties, acting reasonably;” On the other hand.... http://www.londonstockexchange.com/companies-and-advisors/aim/publications/documents/a-guide-to-aim.pdf "With an institutional placing, admission usually takes place within a fortnight of Impact Day. The admission process may continue for up to about a month after Impact Day [release of AIM admission document], either if there is an offer for subscription to the general public or if the company’s shareholders need to approve any aspect of the transaction in a general meeting." "An AIM company will need to issue to the market a statement of its intention to seek admission to AIM ten business days before the proposed admission date. The Nomad will draft and issue that statement. It will also arrange the formal application for admission to AIM, which must arrive at least three business days before admission."

Thank you for the support. The responsibility for delivering the strategic rail and port infrastructure lies with Sundance (or rather their Cameroon subsidiary) under the Mbalam Convention with the Government. IMIC are clearly in negotiation with Sundance wih a view to taking this on with their Chinese friends, which will have financial implications for IMIC that are probably not yet fully determined. Hence one reason for this delay, which is now certain to extend into next month (and therefore not a worthy subject for a bet), and for the price discrepancy we discussed previously.

In the continuing absence of an AIM Admission Document from IMIC, perhaps this shines a small light on what might be contributing to the hold up. http://www.asx.com.au/asxpdf/20131022/pdf/42k67t3vc73tbl.pdf