Member Info for Piltick

I am quite sure SISG will not be making any payments out of the kindness of their hearts!

I wonder if the MPs and others that we wrote to, really understood that we weren't just miffed because our investments went down (which some of us are quite used to, unfortunately!) but that this was something much, much different in that we were complaining because we had basically been defrauded. It wasn't just a case of sour grapes.

Some guy, eh?

When faced with a strong case, you might normally expect the defendants to make an offer to settle out of court at some stage to avoid the whole process going further and costing more on both sides. But that pre-supposes a small amount of decency. Need i say more?

heard from Sittight or Luckcounts recently?

..

I don't think that would work! I think SISG intend to have all of the 75% for themselves. Am I right that this whole default thing came about because AML couldn't find $17 million which was the amount that was due and went into arrears? Surely FT could have found that much to save the company?

I'm beginning to wonder if it is intended to have these arbitration proceedings to settle the ownership of AML's 75%. Perhaps the whole thing is a stitch-up and our BoD are just going to walk away from it if they are able to put AML into admin. Why would they put AML into admin if there is still a chance of retaining a substantial percentage of the operating companies, which would still produce a decent return in the future even if AML are not running it?

Now there's a surprise!

It may be the case that the injunction raised by SISG can, in fact, prevent the BoD from putting AML into admin, despite the statement in the latest RNS "The Company does not consider this injunction is capable of preventing AML from entering administration." Presumable this is because AML is a UK company whereas the injunction is raised in the SL court. However, perhaps this is the reason we haven't heard any more about the administrators? Ref AML's 75%: It would be very useful to get hold of the PXF contract to see exactly what it says about the security issue. However that's probably impossible as it will be a private document. Perhaps our solicitors would be able to get a copy. It is a worry that SISG may have the right to sell it for whatever they can get e.g. perhaps just enough to cover the debt of $167. Do we need to think about raising an injunction to stop them selling it for peanuts?

Standard Chartered. Ah yes, weren't these the expert advisers who sold the PXF debt to those nice SISG people?

If it's from Tonkolili it has to be from stock pile because the mine isn't producing any more. But I thought all of Tonk stock pile had already been shipped? There's another big carrier starting to load up just now, IO out of Pepel. Something odd going on I think. Grant says it's the remainder of stockpile, but several cape-size vessels have left already, so it must be a very large stockpile.

An excellent report. Thanks for that Grant.

MrBeach: This is being loaded out of Pepel so it's getting there by rail, not by trucks and barges which would come from further up-river.

Another large bulk carrier, the Nord Energy, just leaving Freetown bound for Singapore. Presumably loaded with IO from the Marampa mine. Another large bulk carrier, the Ksi Seattle, is anchored off Freetown waiting to load, while the shuttle vessels Gypsum Integrity and Gypsum Centennial are loading up at Pepel and running out to transship to the large vessels. Someone said on here that FT was just shipping out the remains of the stock pile, but these are big ships so there must have been a massive stock pile. It would be interesting if anyone on the ground could tell us if Marampa is still producing and if IO is still being transported on the rail to Pepel. Has FT done a deal with SISG for use of the rail and port? Or, I wonder, has he sold Marampa to SISG? Anyone?

Yes Trot, you will need to send the same detail to AMI_holdings@hotmail.com then you will get an email explaining what you need to do to join the new BB board.

I'll try to help if I can. I suggest that it doesn't matter what you traded in the past, or how much profit you made on any shares you sold. What really matters is how much you paid for the shares that you hold right now. This is on the basis that if you get zero for the shares you hold now, how much loss will you have incurred on that lot. If you can identify the ones you have now, you should be able to determine how much you paid for them. PS: I actually want £10 per share for mine, but I realise I may have to settle for slightly less!

"And the CEO of Pan African is Alan Watling.......same faces different country" O dear!

I wonder how many "ventures" he's involved in. I wonder if any of them are straightforward?

That's a laugh, BT, I'm sure you didn't expect them to produce YE Accounts as well! They've had a lot on their minds recently, poor souls!