Member Info for MadMat

https://www.businessinsider.com/putin-coup-underway-impossible-to-stop-ukraine-military-intel-2022-5?r=US&IR=T
https://www.dailymail.co.uk/news/article-10815347/Coup-oust-Putin-way-Ukraines-spy-chief-believes-tyrant-deposed.html
https://www.mirror.co.uk/news/world-news/kremlin-coup-oust-putin-already-26962491
https://www.hindustantimes.com/world-news/putin-very-sick-coup-to-overthrow-him-underway-claims-ukraine-report-101652603537955.html
https://www.express.co.uk/news/world/1610578/Vladimir-putin-heath-latest-cancer-Russia-coup-christopher-steele-ukraine-war

no smoke without fire

I finally cast my vote via II today. It wasn't easy... I asked them to send me confirmation it had been received by the company and they could not... they do it through a 3rd party. They did say they'd confirm when it had gone to the 3rd party
I would urge people not to delay as its not straight forward... and obviously very important.
Make you vote count

Why is this being forced through at breakneck speed?

Because the Ruskies want to buy our mine fair and square rather than outright steal it... and Robin is being heavily lent on by the authority to a) tow the part line, (hence referral to the special operation, rather then the war)... and b) at least take the proposed deal to the shareholds, even though we all know its an awful deal.

Russia must be a very uncomfortable place to do any business right now, and Robin has to been seen to be working with the authorities. I would bet that secretly Robin hopes the deal is rejected.

MyMonkeysBike,
I don't know... we haven't got to the asset seizing stage yet...
we know plenty of oligarchs had assets frozen... which is completely different from seizing
Perhaps it wont be seized, but rules regarding selling it just get tougher ... and a new offer 6 months from now could be even worse. Who knows...?
Its a bird in the hand vs 2 in the bush scenario

Hi Geng,
Apologies for my ignorance... but what do you mean by this?

"If the deal goes through then NAV will be higher than MCap at around 1p+ with nothing being given for future income. Probably the most secure AMC has been financially ever!"

Please could you explain a little about your thinking here?

many thanks
M

A no vote, would be made in the hope of a better offer coming, but runs the risks a) a better offer does not come, b) as the RF situation worsens the asset could simply be taken by the RF.

A yes vote, means we accept a low price and may never be fully paid.

Neither is attractive…

The question for me is … which is the greater risk? The one of not getting paid if we go or the one of the asset being taken if we stay???

Any sensible thoughts on that would be most welcome.

indeed it does read like 'its a done deal'... now its been publicly announced in Russia... if it was not approved by us shareholders would that not trigger a slightly improved offer just to save face? Improved offer being the same numbers... just prompter payment.
Interesting to see the article referencing JORC... I thought that didn't matter in the RF

ok seen it now, ignore my request

please reference the source of that 'news'
best

The Kinross deal is not one lump sum... but its not spread over 15 years either.
---------------
As part of the transaction, Kinross will receive a total of $400 million in cash for the Kupol mine and the surrounding exploration licenses, which includes payment of $100 million upon closing, as well as additional payments of $150 million before the end of 2023, $100 million before the end of 2024, and $50 million before the end of 2025. Kinross will also receive a total of $280 million in cash for its Udinsk project, which includes payments of $80 million before the end of 2025, $100 million before the end of 2026, and $100 million before the end of 2027.

https://www.kitco.com/news/2022-03-02/Kinross-suspends-Russian-operations.html?sitetype=fullsite

I agree with all of that.
Basically this is a terrible time to be selling our asset, and if this is the best deal available at the current time then I'd rather wait another year or even two.
M

He mentioned Democratic Republic of Congo and a possible place for new projects.... only the 10th most corrupt country in the world. hmmm

future royalties would definitely sweeten the deal... but I'd hope for more than 1%

vote NO

ok this is a few years old, but read the last sentence..

https://www.standard.co.uk/business/chelsea-owner-roman-abramovich-highland-gold-a4513366.html

Chelsea owner Roman Abramovich and his partners have agreed to sell their 40% stake in Highland Gold to Russian businessman Vladislav Sviblov.

Sviblov has agreed to buy the stake in Highland Gold for £3 per share, valuing the company at $1.4 billion.

Highland Gold - which is listed in London - is one of the top 10 gold producers in Russia with several mines in the country’s Far East.

The deal comes at a time when gold prices are close to record highs as the COVID-19 pandemic drives investors towards the metal.

Sviblov will make a cash offer to the remaining shareholders in the company.

If he ... does'nt.... have the money now there is a very really risk he wont in 4 years... and so we wont get paid then... perhaps never.

Why do you think the buyer doesn't have the money... I was under the impression he could buy us with his debit card.
If he does have the money now there is a very really risk he wont in 4 years... and so we wont get paid then... perhaps never.
We are effective being asked to provide the buyer with an interest free loan, with no mitigation on the risk they might not pay up.
Its a NO vote for me

The best feasible outcome I can see is:
- we vote no and block the current deal
- I doubt the buyer will just walk away... so rejecting the offer gives us the opportunity to improve the terms
- Its unlikely we'll get significantly extra money out of the buyer so I wouldn't bother trying to up the price, however the payment should be made in one lump sum.
- for me, the absolute deal breaker is the buy now pay later bit.
- I would like see AMC then wound up, but I also note the stated plan was to sell KM... there was never any mention of winding up the co. after that.... but I think that's what we all assumed. Certainly a large chunk (80%) of the sale price should be paid to shareholders, imv.

I also note, at the beginning of each RNS we see,
"Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia"
So I wonder what's in the Memorandums and Articles and whether looking for other project in other areas would require a shareholder vote, as its a significant change to the business of the co.

I guess we'll find out when the resolutions are issued.

I guess, like me, most of us here assumed that when KM was sold the cash would be distributed to the shareholders. Clearly RY had other ideas...
But why was our assumption reasonable... is that what normally happens?
Hopefully there will be a bit of a bounce tomorrow.
I will be checking with Interactive Investor (II), how my get to vote. I've not voted before but I wont miss this one.

well, at least we now know the "Press Speculation & Share Price Movement" RNS was genuine... and not fiction as some suggested