RE: Not fit for purpose.26 Nov 2020 13:37
JoeBass, your confusing making use of emergency mechanisms put in place due to an unforeseen world health emergency to secure their asset with insider trading. An application to ensure that IF REQUIRED, an extension facility was in place if so needed.
They didn’t release an RNS to advise of delay until the 11th hr. This and the information within the RNS regards the current status and progress of the TEO, suggests to me that they were very close to hitting the deadline but unfortunately COVID has taken its toll. In my opinion TEO could still be submitted pre-Christmas.
Let’s look at the timeline.
On the 1st Oct Amur’s Adam Habib did a proactive interview to say TEO was on track for the 1st Dec. At this day there was 8,945 new Covid cases and growing in Russia. Cases started to slowly spike up from last two weeks in Sept after being pretty steady up to this point.
By 25th Nov this increased to 25,000 new cases daily. Giving the Covid crisis was getting worse by the day, with bigger daily spikes from the start of Oct,.
Adam sold some shares at the end of Oct. Given that he was not taking a wage at the time, a decision to sell a few shares to ease his cash flow was entirely his. He sold a minimal amount. If he sold his entire holding I would be worried, he sold 255,869 shares leaving him with 4,876,000. Hardly the actions of someone panicking about the long term success of the project.
We now have confirmation of the following
- Additional Resources
- Longer Mining life
- TEO in final stages
- China wants to take over the EV world (on our door step)
Onwards and upwards for AMC. Investors have faith and believe they will get their payday.
Traders ride the waves and 9 times out of ten get stung. They manipulate newbies and weaker hands by running companies down in order to time their entry and exit points. Disgusting behaviour in my opinion.
GLA