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If the house repossession analogy holds up, then the assets will now have to be sold, and SISG will have to bid for them against anyone else interested. i wonder if the mine & railway assets be sold together, or separately? Lots of questions now...

Thanks, knicol46. Link : http://imarketreports.com/shandong-in-stronger-position-over-african-minerals-market-talk.html also reported by proactiveinvestors : http://www.proactiveinvestors.co.uk/columns/sp-angel/17949/todays-market-view-including-african-minerals-ecr-minerals-chatham-rock-phosphate-botswana-diamonds-and-others-17949.html

Agreed. It may all come down to the small print, which I guess we don't have access to. Do we even know which country's jurisdiction the loan was made under?

Sorry folks, but I'm still puzzled by this. Many people here seem to believe that : (a) SSHKZ has successfully taken full ownership (not just 'control') of AMI's assets. (b) These assets are worth much more than the PXF debt. But if so, then why did the original lenders (Standard Bank, Standard Chartered Bank, Citi, British Arab Commercial Bank, Ecowas Bank for Investment and Development and BMCE Bank International) sell the debt to SSHKZ? Why didn't they just call it in, and take the profit for themselves? Some possibilities : 1. They sold the PXF debt for MORE than its face value. 2. All 6 of them overlooked an easy profit. 3. All 6 of them are complicit in a scam. None of these strike me as particularly likely, which is why I continue to doubt premiss (a).

No I'm not convinced it's all over yet either, for exactly the reasons you've given. The phrase in the RNS is "taken control"; that's not the same as ownership. If I had a 10% mortgage on a house and defaulted on repayments, then the lender may well be able to "take control" of the house. But they certainly wouldn't "own" it, in the sense that I forfeit the lot. Maybe the small print will turn out to be crucial, but I don't suppose we have access to that.

Did anyone hear what was said at today's conference call? Seems to have had a positive effect on the share price.

WARNING: This may be construed as ramping; please take my comments with a pinch of salt, and Do Your Own Research. I have no connection with this company, apart from holding 3800 shares. I've never even visited Ireland, but hope to one day! So what are my reasons for investing here? 1. Robbie Burns The "Naked Trader" bought in Sept 2013 but baled at a loss soon after, one of his few failures. His research is usually good though, so I couldn't resist buying in cheaper than he did. In return, I'm happy to give his book & web-site a quick plug: www . nakedtrader . co . uk 2. Innocuous profit warning OK, there was a profit warning (RNS 20/09/13). But a careful reading shows that (a) it was outside their control, and (b) it wasn't so much profit lost as profit bumped from one financial period into the next. So the subsequent SP fall was way overdone IMO. 3. CEO interview (see post by jupiternmars) Seemed a good performance to me - calm & confident. Many positive points about the company were made, e.g. the fact that management hold 35% of the shares. 4. Possible take-over target Mentioned in the interview, though AD says it's "not something that we're looking for". I'm not either, but it might act as an insurance policy, if the SP were to fall a lot. 5. Growth The acquisitions seem very well targeted. A steady stream of them, but at a manageable rate allowing time for integration. 6. Good geeks I worked in software for decades, so have a fair idea what the right sort of geek looks like. (Takes one to know one perhaps.) Looking at the photos on the KWS website, their geeks look OK to me. 7. Recruitment A healthy looking list of job opportunities on the KWS website. 8. Off radar So far this year: just 14 trades, and 0 posts on this BB till today. I don't know much about valuing companies quantitatively, so also check out WexBoy's post (05/05/14) as a counterpoint to this one. His analysis of KWS is a bit out of date now though, so Wexboy, if you're reading this, any chance of an update?! ATB

Thanks for posting the link. I thought he came across as very calm and confident.

Many thanks for the information. For those unable to attend, do you know if the presentation is being recorded? And if so, will you be providing a link?

Seems like a very significant RNS. I can certainly see how there may be good synergies between language translation and art in computer games. Yet not a single trade so far today - very strange! (Disclosure: I hold 2500 shares.)