Member Info for millsm

I read back the article from the GoSL and one thing I did notice was that SISG mentioned a $700m investment and up to a $1bn to bring phase two on line. What is the first sum for? That certainly clears all the debt but not sure if it leaves shareholders with anything. Lets hope the admin team can get on to this and stop anything that leaves us with nothing and questions the value of this deal. Maybe I am misreading it and they are trying to take it for nothing or do a deal that makes more sense but might still leave us high and dry.

Lets Hope they have time to stop any actions in SL and get this reviewed profesionally and then look at the value of the company assets as a genuine estimate. Going to not check the board this weekend for my own sanity as its been horrible to see the underhanded nature of the players involved in AMI and their greed personally in ripping of genuine people (both staff and investors). At least Deloitte seem to have at least the respect to aknowledge we exist which in the last year is a massive step forward.

Sent my email, lets hope we get some level of response from them. Ideally we should see some sort of asset sale injunction in London to hault proceedings in SL to make sure nothing is sold before they are accounted for in the wind up process.

It states the ''the Company and of its subsidiary African Minerals Engineering Limited'' and above the company is define as ''("African Minerals", "AML", or "the Company")'' So its the whole paret company + engineering! I hope this helps Manu!

Lets hope they haven't pulled the project companies assets out already, this doesn't look to promising if the project companies are not part of the administration. Not how this can happen, as AMI doesn't own anything without the project companies assets, which are part of AMI surely.

They can still make an offer to Deloitte but they would still be obliged to do an valuation first before accepting anything. Basically we are in the hands of accountants now, a London firm might want to see value if its there rather than the Chinese or GOSL getting everything cheap.

I feel at least we have a neutral on our case now thats better than we have had before. One positive thought was if the value of the assets was less that the Bonds, Creditor Debts and Loans they would have done a deal with SISG directly to see if everyone accepted it (as they obviously wanted it). Admin is never a good thing but we have a tiny glimmer of maybe a real assement of the value. Deloitte aren't going to open themselves up to an under evaluation claim later on based on what GOSL want.

Ultimately if the have invested $1.5bn and looking at a further $1bn in the future why would they risk not just buying our the shareholders. The damage they will do to their reputation and future investment with partners far outways an over of $100m for the shares. I think its a dangerous game to think they can just take things without being above board as the G0SL don't care about fairness as it's all about who gets what personally. But a company the size of SISG, who would ever sign a deal with them in future is they see this through.

Who ever had the contact speaking to the Panarama editors might want to look at the Tony Blair help the SL government received as this set of events was defiantely not been in the British interests!

Let's hope someone wakes up to this!

Its hard to focus on what to do when you can see things happening in SL and we are still kept in the dark. Whilst trying to deal with personal financial loss as you watch fat cats about to use our investment creates a lot of anger. FT created this company and the very least he could do is stand up and detail the reality for the people who backed his vision. I am sorry but SISG could also stand up an be counted here and be honest about there intentions. Yes legally we need to go after them but without an outcome its hard to see the clear direction of the claim until that time happens. A lot of people are putting in the hard work to try and get us a voice and a thank you to them. Things like bank accounts I am sure can be sorted as if nothing else a PayPal transaction with transaction statement would be enough to get things moving, but trust has to be paramount as feeding of investors would be lower than the current sharks we are dealing with. So a deep breath and helping each other maybe be a better way forward but understand if April is the opening date for the mine wheels are in motion in SL, so rushing to through money in on a legal case that might have a different direction in a few weeks maybe worth thinking about.

Unfortunately this is what it comes down to now, AMI BOD have given up but won't go into admin (which tell's us they are not acting for shareholders and using second names working for SISG). SISG have all but sealed the deal in SL and are on target to re-open the assets in weeks with the investment that should have been forth coming to AMI. We are going to be left with a shell of a parent company thats been asset stripped. And what do we get .......... a statement from a smiley meeting in SL saying win/win for everyone and the value of the 75% mine to be decided in an Auction! (Cheap as chips, actually we are more likely to get more money for a bag of chips to be honest)

Just ask him to confirm in writing which receivers he's talking and their concerns as to why they cannot be called in for the benefit of clarity and then you'll understand the truth.

Be careful here as I am not sure we are given any real information, the BOD can easily invoke admin as they have no money so just appoint the company (its just Calling in the Recievers). The case in SL would not effect this and where is FT and his comments on the situation as he would be invilved in SL at the court. AML is being kept afloat for a reason to give somemone time to gift wrap the assets IMO.

They just need to appoint and administrator and then let someone like PWC deal with the court is SL as they have the clout to just push it aside.

Not got yourself to blame, we were told in an RNS by the company they were working with SISG to save AML back last year and had funding to do it. That was not true as simple as that as the funding was secured for the takeover of AMI by SISG and not released. Its been a game of shadoes since then and we have been suspended. The people at fault are the Regulators as they are paid to protect investors from companies making false claims and acting in self interest. We have been duped and still no one who should be asking the correct legal questions is acting on behalf of inevstors. We should be simply in admin now or have an offer from SISG, the company has failed and we should go into a set procedure when that happens. Whats happening is they are keeping the parent company afloat through our BOD and giving away the assets in the back ground.

I must be honest I am very surprised at the press for not looking into this and commenting as to whats going on. The events are completely irregular and someone must be interested in the legal position of what SISG are doing. Even if its just to confirm that it's game over for AML, but nothing anywhere to say whats going on. The BOD are silent, the press are silent, the main investors are silent, the only ones talking about this are GoSL and SISG (who technically at this moment as far as we know don't own it).

Where is his statement to share holders, he is the one that created the company and asked the markets for money leaving us in this situation? The only two people left are him and Gibril Bangura (plus none execs). So where is our statement as to where our good news in this situation? We should be in admin now as the last RNS stated we would be, or is that not a truthful statement. There is no way this mine cannot be re-opening in weeks and we are not clear of our position.

Why do we have regulators in this market if they allow this to happen, so we own a company with no BOD that is being run by someone else based on a claim in SL that isn't settled. And we are being delisted without Admin being called in to disolve the company. I have to say a legal claim must be looking very strong againt SISG here and the BOD for what is serious breach of trust and AIM rules.

Very similar thing happening at Afren and yes the EGM has been called and an offer made by the Bond Holders to claim 89% of the company. The shareholders have the choice of accepting the deal or admin, so yes that should be the above board set of events and Afren has Nigerian Assets so very similar situation. If the Bond Holders get 89% and then buy another 1% from free float after they can then compulsory purchase the last 10% at what ever the current share pirce is. I am not an expert but this is exactly was has been setup at Afren by the interim BOD of directors as some of the old BOD were all caught with their hand in the till. But a clear choice for share holders to choose the outcome at the EGM.