Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Hi GB33 - yes, you’re probably correct. But from a company perspective- and given AMC used to update every development in the licensing process with an RNS - it’s distinctly weird that it doesn’t take the opportunity here to highlight its inclusion in the plan and thank local authorities for their support. It’s a ccost-free win for the board.
But it seems to me a company whose flagship mine has been included in the far east development plan (as it has) that’s just been signed off by the president would want to draw attention to that fact with an RNS since it’s clearly material to the market. You never know, it might even boost the share price and help Riverfort, your funder, offload shares even if as a board you don’t care about PIs. So the question is - why does AMC not do so? It’s basic PR at the least.
Of course Putin isn’t signing off on that road but if that road isn’t included in the plan he’s signing off on then it won’t get built with government money. I will sit tight, in answer to your direct question GB33, because I’ve been here 10 years and am underwater like pretty much all LTHs but I will be making a point of going to the AGM this year to demand clear answers to specific questions if nothing has been made clear by then. Very fed up with the board’s complete refusal to provide information that is in their power to provide.
That we should learn whether AMC is going to get government support for infrastructure. Putin’s holding a state council on Far East development today which should sign off on the development plan to 2025. So there had better be an RNS this week..
And headed that way for the foreseeable, AMC’s PFS assumed price is reality, and our sp is back below 3p..if there is no announcement of anything during Putin’s big Eastern Economic Forum, then what the h@ll are the board doing at all ? The silence is so infuriating.
Now Indonesia has confirmed its nickel ban and sent prices up, this would be a very good time for AMC to update the PFS with its 2018 drill numbers to show just how much of the stuff we have..shop window time
It can’t be an insignificant development that in one swoop Mr Bowens now holds three times as many AMC shares as the CEO, and more than all the other board members combined. Positioning for something?
Seems a good time to remind the board of principle 2 of its Corporate Governance code:
“The Company remains committed to listening and communicating openly with its shareholders to ensure that its strategy, business model and performance are clearly understood and communicated. Understanding what analysts and investors think about us, and in turn, helping these audiences understand our business, is a key part of driving our business forward and we actively seek dialogue with the market. We do so via investor roadshows, attending investor conferences, maintaining regular updates on the Companys FAQ page and our regular reporting.”
The Eastern Economic Forum and not a word about it from AMC’s board. Nickel’s above $7/lb and rising. And the share price is plumbing decade-long lows. Something has to give and it’s long past time RY and his newly augmented board said something about the progress they’re making.
Seems totally marooned
Is encouraging, the one thing that’s absolutely perplexing is AMC’s failure to update the PFS with the 2018 drill results. They’ve had them for nigh on nine months - what possible reason can there be not to issue the PFS with this data??
The most interesting part of that biography is he runs the other Amur Minerals.
“Mr Bowens is also the General Director of OOO Amur Minerals, the Russian registered license holder of the Malmyzh Copper Gold Deposit, and the Director General of Khabarovsk Minerals, the Parent Company of Amur Minerals which is a joint venture company owned by IG Copper (51%) and Freeport McMoRan Corporation (49%”
A board that’s been willing to attend a dog-and-pony show to tout their project certainly ought to be in attendance at any such big-deal signing at Putin’s key eastern development forum!
Now entering it’s sixth month, everyone seems focused on the idea of an announcement coinciding with Putin’s big Eastern Economic Forum in Vladivostok on Sept 4-6.
AMC’s website however gives no indication that the company will even attend this event, though it mentions one in October. With barely a month to go, is it too much to ask AMC to even give notice of that?
March...including answer to
“Why should investors be bullish on Kun-Manie?”
This is all great and all long known. But our current Mcap is £11 million and our BoD seems to have totally disappeared. Do they have anything to say to shareholders should be the only question being asked now.
Strong doubt - sound is completely absent
Agreed - more than 18 weeks have passed since the PFS was published and not a word of follow-up from the board. Why no updated PFS with 2018 numbers? Why no clarity on these supposed negotiations? I have always regarded RY as a straight talker but the performance so far this year has cast strong sound on that view. As for the other directors, where’s the evidence of creating shareholder value?
So tomorrow will be a full business quarter of silence bar the obligatory audited final results. The FAQ section on the website has been silent since February- but there must be plenty of questions about the total absence of communications from RY and the board since publication of the PFS. Meanwhile we’re worth £14 million according to the market - the board’s passivity in the face of this is scandalous.
Robin Young declared in the March 22 RNS on loan restructuring “I look forward to providing a more in depth perspective of the strategic partnering plan in the very near future.” 84 days of silence since then. Not good enough.