Member Info for millsm

Why would SISG buy the debt if they thought their was a risk of the assets not having value. They have been over the books closer than anyone, and yet bought everyone else's PFX debt. If we need a signal this is worth something that's the smoke!

I think their was an element of pointing out to SISG what's coming in the RNS. Hence no administrator appointed but imminent unless SISG decide they want to review their position of trying to steal the assets. IMO and maybe clutching at straws.

Its impossible to know what to do as the people that should be helping us are the ones that have lied all the way through. The FSA really need to step in with the administrators and help discover what's going on here and what should happen moving forward. Yes we should make a claim against the BOD's but we need real evidence of events. Jefferies have jumped ship to distance themselves as they are up to their necks in this for not doing the right checks on announcements. AIM suspended for no reason unless they suspected could play but yet did nothing to protect investors. SISG are just as screwed as us IMO although their behaviour has been incredibly dishonourable. Bottom line is the SL officials and FT have been completely implicit in this failure of AMI due to self interest rather than the lawful running of a listed company. For gods sake SFO and the FSA wake up and do your damn jobs, this I UK listed company and a huge fraud.

Looks like they have jumped ship at the earliest possible moment, maybe the false RNS announcements do open up legal recourse. What happens in a month when we delist, do we have to register with the administrators for the slim hope their are crumbs left, or do they obtain a finalised list if shareholders as part of the process.

Someone big is going to buy the whole lot here as the GoSL need a real mining company to build something stable .......... the question is do more than one of the majors want it at the right price as its going to be a bargain?

Who on the BOD had share's? Is this calculated or desperate on their part! FT used to have 20m Plus (although who knows now). Obviously a deal couldn't be struck with SISG as to be honest the BOD blew their $1.5bn and had a cheek to ask for more IMO (obviously we didn't know that on our part as we thought it was down to IO prices). So does plunging everything into admin stop the stalemate and through the all cards back into the air for the next hand of poker. Bottom Line is AMI Rail / Investments / Port / 75% Mine = $1bn+ worth debt with anything left over ..... one thing is for certain 25% Mine is worth a hell of a lot less than $1.5bn paid for it by SISG.

Like a lot on here I have lost £50k and its taken over my life ............ Its Friday and time to take some time out from AMI, literally the hole in the ground that swallows money and dreams! A few inappropriate things to see us down to the pub. ''Frank Timis's new business venture will be Sierra Leon's first Admistration Services Company: We specialise in the disposal of Mining and Transportation Services OPEN FOR BUSINESS ............ But we don't speak Chinese''

I am not a legal person or understand the RNS language fully. It states they are working to find ..... does that mean thys have actually called admin or just stating to SISG last chance saloon here? ''The Company is working to identify an appropriate insolvency practitioner to represent and protect the interests of the creditors and stakeholders of the Company.'' Its slightly strange as it points out the Mine isn't going into Admin as SISG have control but not ownership. ''The future of the Operating Companies, and their ability to pay creditors, obtain funding, and restart operations, is now entirely in the hands of SISG. Any further support or interaction between the Operating Companies and AML, including transfer of any staff and assets, and resolution of financial aspects, must be negotiated between SISG and the administrators, once appointed.'' So basically the Administrators once appointed should demand they are also sold to pay debts even though SISG think they have a claim on them.

Ok so we are with the Administrators now. What does that mean for SISG as they have no longer got a way to pull ore out the ground and their 25% is as worthless as ours. Unless they can convince the Adminstrators they can run it all and buy everything cheap. Obviously this assumes there court action will fail as it should, as creditors are taken care of as part of the admin process anyway, so join the queue SISG. What is interesting is why are they so desperate to block admin ........... as they know their $1.5bn has gone now and they are left with a 25% share in a hole in the ground. A sensible company stance now would be to work with the Administrators and package everything for sale to a Big Boy! All the mine, rail and port. Pay of the debts and SISG and Shareholders might see something .......... just a chance!

Interesting they have blocked Shareholders forcing admin as well ....... They know Manu and everyone else is on the case and are worried now!

Scary thing is that SISG could do the right thing and still make a fortune! I guess it all comes down to whether they want to be associated with changing AMI into a good business they own legitimately ..... Or ..... Just being the next chapter in its history of corruption!

If we can start an FSA or SFO investigation I am sure we will get some high power whistle blowers. This is so deep and aggressive the management must have considered the potential for serious fraud potential. Why do they think FT didn't vote on things or attend meetings? They must have suspected the level of potential theft here!

Maybe we need to do more updates of this site now as its being monitored.

If all this foul play is confirmed it would make any difference to the AMI BOD side of things as they knew what they were doing and have probably cashed in. The big losers will be SISG as they are then subject to speculation in every deal they do, market confidence and financial scrutiny. Who would ever want to partner them in the future and as they watch senior directors hauled into courts. Think they have played the game with FT but not really thought through that the markets have a long memory for such an insignificant short term gain.

I can well imagine a few characters took the risk here and are comfortable with taking their chances in getting away with it ...... Not sure a big Asian company will want this level of attention when the truth comes out. The Chinese have trillions invested around the world and do they really want that trust eroded if the back of an African mine scandal?

As we have a mailing list of a 150+ investors. Would it be sensible to have a concise email we can all personalise a little. Plus a list of addresses to send it to. Then all send on mass to the authorities in one go.

They are looking for a company to make an example of at the moment in the financial markets to prove they are tough on bankers and shady deals. They might have found their company like Enron!

Is to get the serious fraud office to prosecute of the back of an investigation for fraud. Then we can take the BOD to court for losses but the case is already proven.

FT gets access to the railway or sells his mine to SISG. BOD empty the Hong Kong Account of the $80m. Mine Re-opens shortly. AMI goes into Admin with no assets. I have to say where are the other stakeholders in this equation, large stock holders, suppliers and Bondholders? Why are we not hearing anything from them. This is just so strange its beyond belief.

This is where the BOD should be keeping us aware of the implications and actions being taken. The problem is that we currently believe the BOD has gone rouge and we are not getting any truth from anyone. Basically who is acting on behalf of the stakeholders and shareholders .......? AIM and the FSA should be stepping in and saying the details coming out of the company are not in line with the directives required in a very strange set of circumstances.