Member Info for mogo

answering your Fri 16.13 question-IC did not voice facts available publicly such as that Jindal had tried to get the huge Bolivian deal said to be the worlds' largest,had two other African deals tried for,were taking over an indian coking coal company at twice the AFF MCap.They had little chance of owning the railway,the Cameroon govt. was already proceeding to buy up strips of land over the next 6 months while Sundance were negotiating with the Chinese.The IC reader would then have seen that Jindal were not likely to stay in the AFF "ring" and wonder why they had been in at all.

Jindal's lack of enthusiasm has cost us badly,though they were never likely to come in here from my research-see earlier.Of course IC didn't pick up on these things.Maybe not politically correct to treat a major that way ?

yes the fact IMIC came in to buy a fair whack of shares at 90p.What game are they playing-you can only assume they expect a good profit off that ? They've got approx.17.4% losses ignoring to add spreads and fees there..by now they have pumped the ex direc. for what he knows about AFF,what do they do with it next ? Assume of course they have given it all to the real moneybags.

IMIC is on a loser with their AFF share buy at 90p-that wasn't too sensible was it ?

these shenanigans are par for the course in my experince of AIM miners' doings since end of 2010 when things collapsed.Unlike most other AIM miners,AFF is able to wait these gameplayers out for a long time.A lot of tactics are based on prolonging the agony till they crack financially.That won't work here.

I was offered 2p this morning to buy..I can't get more at present though,the logjam of several stuck shares I have needs broken to provide extra cash.In a normal market I'd buy right away.Here, though at a loss, my average isn't too bad so hopefully, if a few here can buy at these depressed levels a rerate upwards might happen which is needed to help fundraising needed by AFE.GL..

seems to be

hi hilda-my research shows a rail line is quite likely,the Cameroon govt. is buying land along the route,yes no final deal of the Chinese with Sundance-which seems tom be the logjam here...Jindal as said were never really a player-they wanted a very big prospect far more than this as seen by their attempt in Bolivia worlds largest they say- and appeared to want rail control here which they won't get,it should be Cameroon/Chinese controlled.The SP is back down no idea why maybe drifting rumours but IMIC seem on board with ex director plus 90p shares bought.Note these are at a loss now which IMIC won't like but it is in their hands to take actions..

I once viewed CNE as the "ideal place" to park my future mining "profits" lol. 2 things wrong there-can you spot them lol.Of course the ill fated attermpt to drill in Baffin Bay caused enough £millions spending that would beggar most unless they had CI to drain from for it.They have at least recognised that by diversifying in many places some quite successful,and won't be in money probs. though another similar mistake has no safety net remaining.BG thought he could do deals from unlooked areas he managed that very well in India setting this up but it wasn't to be a second time..

each development makes the railway more cost-effective.

was never a real runner,they were quoted here in the few week gap between ditching the huge Bolivia project idea-claimed to be worlds largest- and looking at two other African areas..

Jindal may have probably just not wanted involved with a Chinese railway route involving extra fees etc which looks likely through Sundance -the Cameroon govt. moving over next 6 months to buy the land strip which goes within 30km from Nkout of AFF.Jindal are trying for a coke company in India double present size of AFF and have 2 other African ideas instead after their huge Bolivian project fell through.If thats the scale they want-was one of worlds biggest -AFF wouldn't be enough in size.

called a reverse takeover that can happen with agreement .however IMIC have large Chinese backers Chinese Railway Group tailormade as Sundance are doing a deal including the railway-see my earlier post on that.

had sufficient other irons in the fire elsewhere and would be excluded from a Chinese financed railway-they weren't in that pie at all ever.

the West African Minerals site-the Cameroon govt. promised all iron ore companies would have equal access to the Mbalam to Kribi port project of Sundance.. from AFF site Nkout is only 30km from the rail corridor 31 12 12 mining licence approved for part of Mbalam Sundance iron project 27 12 12 Hanlong said the Sundance takeover should be completed by 1.3.13 23.11.12 the Cameroon govt. will go ahead to purchase land for the railway a process taking 6 months with the above it seems unfeasible allegedly for Jindal to use non availability of a railway as an argument though not seen any official company line on that yet as opposed to other net and newspaper reports

of course the Jindal bid for a coke plant isn't mentioned lol.Their choice- 1. mines are expensive to construct they know that 2. access to power and transport yes though the Cameroon govt. should help with that plus any deals elsewhere. 3. low grades and high costs is the sticking point- seems to be mentioned a lot,though there is DSO iron too.AFF differ in their attitude to this.

I do not think you have real worries about your sizeable investment here.A report-see over at AGQ the IC ref. there.a few days ago-its the last clickable one on that thread..says that about a third of AIM miners are going to fail or should fail to cover only their annual costs-inflation,oil prices, are doing for that.AFF in the list is picked out as one of the few with a good cash pile.They can afford to sit waiting for good offers,I do not believe garbled Indian newspaper reports-someone maybe chatting in a curry house near the Jindal office lol ? Only official Jindal RNS should be believed.There might be a hostile bid but I showed how they are doing a coke coal T/O now and too busy.IMIC know they can't get AFF for 90p and they have our ex director telling them inside info now.The Chinese are moving in on this whole Cameroon even bigger Congo too scenario.It might take some time but you can decide if you want to be there.

Thanks again JT for your efforts.Yes Jib will be hard to catch as I forecast.Red Rock no good but Red Rum makes good pies..

the nugget I unearthed about Jindal going in to the tune of twice what this is worth now for an Indian coking company shows why they had to withdraw.also I now regard that Idian report a week or so ago an an early rumour of the withdrawal which was beginning to happen,just a plain case of choices to be made,they couldn't try two takeovers at once.Anyway the Chinese I think will win the railway and iron ore game,imagine the empire they might get in the whole region...AFF just a smaller cog in that.One railway,many iron ore prospects,the Indians couldn't be allowed to get a look in.

this backs up my earlier posts- 1. India is not moving into W.Africa,it is a China-only place-to-be.Already several iron ore/railway projects e.g. Guinea/Bellzone. 2. the backers of IMIC are Chinese Railway Group,a major. 3. as I said Jindal are in to paying out over twice AFF's present MCap. getting an Indian coking coal company since 31.1.13.They wouldn't try 2 takeovers at once/