Member Info for Hammer11

Well he wasn`t wrong!

What`s going on?

I was convinced that we would finish at 2.10 on the ask. Just after 1:30 there were 150,000 shares on the L2 ask at 2.05, and 53000 were taken leaving 97000. Subsequent to this over 1 million were bought at or close to 2.05, but the 97000 didn`t get taken out. Strange.
Anyhow, I will eat my shorts if we don`t open up in the morning.

Whilst I am intrigued by Sasa`s computer issues, I must confess to being more interested in the unopposed chunky buys going in towards the close.

AMC trading always seems to be much heavier in the morning. I think that we will close with the ask around 2.10 today and then open a fair bit higher in tomorrow, say 2.20 bid, 2.35 offer now that the overhang seems to be gone.

I don`t want to jinx it, but it looks to me like the overhang has cleared. The regular large sells seem to have disappeared....
Could this be it?

Thanks Tuckman, I do read the RNS messages. The 30th September RNS stated;

It is the Company's belief that the successful completion of a binding offtake agreement will provide access to the types of institutional investors who provide financing for BFS programmes. We envisage that this funding will be principally through debt and would be sufficient to fund the BFS programme and sustain the Company's activity through to the completion of the BFS.

My point is that if the BFS is covered through debt, we don`t need any further dilution for running costs.

Here is my take in the short /medium term funding situation.
As at 30/06/2020 we had $ 831,000 in the bank. Since then Plena have stuck $ 682,450 in the bank and we have $1,400,000 left over from the August placement ($6,100,000 less $ 4,700,000 to NRR). This gives us $2,913,450, and we are burning $2,600,000 every year. We have $ 660,000 coming in each year from our 14% coupon so we shouldn`t need to raise any cash from any further share placements until February 2022)ish)

Agreed, but in the month up to 24th August there were roughly 100 million shares traded and in the month since 25th August when the 360 million shares were placed, there have been 550 million shares traded so we must be getting close.

Some of you may recall that I was pretty sceptical about the EGM and the vague explanation for the increase in shares, in fact I voted against the resolution. I must say that having looked at the the details set out in the RNS that I do think that ACM has made a pretty good strategic deal here. In fact I would go so far as to say that this is a very good deal that could deliver significant upside in the medium term, as well as providing cash flow immediately.

A new coronavirus testing programme at Heathrow Airport could avoid the need for travellers to quarantine when arriving from high-risk countries, the airport's boss has said.

Aviation services company Collinson and logistics firm Swissport said more than 13,000 Covid-19 tests will be available to passengers each day, with results "within hours".

It is proposed that arrivals will then take a second test at home and will be able to leave quarantine early if they pass both.

The new facility has been set up in Terminal 2 of the west London airport - but the proposed system needs government approval to go ahead.

Heatlh Secretary Matt Han**** told LBC radio that the government was working with Heathrow on the plan but it must be made "safe and secure".

https://www.theguardian.com/business/2020/aug/04/easyjet-flight-schedule-holiday-nice-faro-coronavirus-travel

Looks like the price is turning back up

Directors granted share options at £6.65. Should be positive.

Blimey... He is good isn`t he.

I have just bought a chunk too. I like that fact that they have filled a war chest with cash to take advantage of the situation.

Firstly I would like to say thanks to all for the civil tone of the discussion. I thought I would get battered when I posted this morning. Believe me, I want this to succeed as much as everybody else. I just don`t get the need for all the smoke an mirrors. Maybe I am too used to being the other side of the desk. I know if I was asking for the licence to print that much cash, there would be some searching questions being asked.

Hi All, I am not sure if I am getting sensitive, but I have some concerns about what is happening here.
We have an EGM called in the middle of a pandemic with some nebulous excuses given regarding the requirement for speed to pass a special resolution to increase the share capital from 1bn to 2bn, when there are no details of any specific requirement for this. The percentage needed to pass the special resolutions is 75% of VOTES CAST, not of the whole share capital. They will also not let any shareholders apart from themselves into the meeting to vote so we can`t even question the reasons for it. The directors have stated that they will vote for the resolution with their 18Million or so shares, which means that at least 6Million other shares will have to vote against the resolution, and that is if nobody else votes at all. I am not against issuing shares to raise capital to develop the business per se, but we have just raised £500,000, with supposed minimal running costs which should have got us through to December and the TEO. I would therefore like the board to be clearer about why this is required so urgently, and in such a covert fashion. I have a few Million of these shares, fortunately at a low base, and I will be voting against the resolutions by proxy. I would urge you all to do the same. This is the link to the proxy form

https://amurminerals.com/content/wp-content/uploads/EGM-2020-Proxy.pdf

I was thinking of attending the board meeting, but just read this on the circular!

THE COMPANY HAS ARRANGED
FOR A QUORUM TO BE PRESENT IN PERSON AT THE MEETING. ACCORDINGLY, WE HEREBY NOTIFY
SHAREHOLDERS THAT ANYONE SEEKING TO ATTEND THE MEETING IN PERSON WILL BE REFUSED
ENTRY.

Geng, it seems like 21 Million shares are held by those who are have a managerial responsibility, and they have 37 million options. I wouldn`t say that is minuscule !