Member Info for shamI89

Too be honest ,nobody thought it would turn out to be like this,everything was perfect, these lot started producing in 2016, production cost was reasonable, total production was meant to be 100k per year and resource estimate was 1.3 million ounces.Incompetent management and few disasters.

I am more of a trader these days, GR of Prem, PL of Range, SO of mxo and many others have put people off aim.List is very long.

If they default company would go into administration and assets would be sold to pay off loans.

I first started trading 9 years ago and since then I have seen many life style companies, CEO lying to share holders, private investors being cheated out of money.I dont think one should hold aim shares, there are very few shares which offer long term gains.

I would expect to have all of these RNS,s by the end of next week as there would be christmas holidays, a dead period for markets

Wow, I cant post facts taken out of company presentation and RNSs.By the way go through my posts and you would find out that I have pointed out their production costs to be 730 an ounce , plus ten year mine life and expected production to be 1.3 million ounces.I did say company can pay off debt in two to three years if it is run at full capacity.I dont think that it could be classed as deramping.It could be said that current management is incompetent but they have been at helm for quite sometime.

Yes, I would say that.

I said it, it is a punt as I believe major shareholders would provide short term funding.They started producing in 2016 and after that production have been halted multiple times due to glitches.One off it could be put down to bad luck but not when it happens regularly.

I cant ignore the negatives because I have to consider everything before making a decision.Everything I am saying is present in market updates.Correct me if I am wrong because I cant ignore the facts.

If company goes down, shareholders would get nothing.That is why I am assuming that major shareholders would provide the company with working capital at uber expensive interest rate.Again it comes to production being expanded to generate free cash flow.This year they have produced about 45 to 48k and they are still turning to major shareholders for working capital.

By the way, why would these lot need working capital if they were generating enough cash?

Go through RNS's and you would find out that these lot have been making only interest payments to lenders and getting deferrals on principal amount which works out to be 35 millions.Now working capital is being provided by major shareholders in the form of loans.Perhaps it is always good idea to go through company acvounts before causing a p&d.

Nope, they have been nogotiating with banks since 2016 and nothing is working.

Please go through our friend's posting history and you would see him along with his pals in most of p&d in last 12 months.

Yes, dump after failing to pump.

I have stated all three scenarios , company can default or d4e and existing shareholders would get nothibg.

Deramping! stating ths facts , what I cant do is just run p&d like you guys .Go through my postings.

there are three ways to raise money , placing highly unlikely at this price, debt 4 equity would wipe out existing shareholders and have to be approved by major shareholders, A new loan replacing old loan but who would loan a company 50 million which is not generating any money out of existing operations.Banks could pull the plug and could comoany would go into administration and asset would be sold to pay off lenders .Or company could borrow money from existing shareholders at uber expensive interest rate.Think that is why shareholders are supporting this company as they are highly unlikely to get their money bank if it goes into administration.Candy Brothers had deep pockets but!

I have taken a small position as do think they would get extension but debt restructuring wont happen unless these lot increase production.As I said before I first invested in this share in July 2016 and have been trading it since then.I would want to see an increase in production which is stuck at 50% of total capacity and they not making any money on that.Anything above 12000 ounces per quarter and they would generate free cash flow.

Quite a few things need updating, they have to tell.market about operation that plant is running at maximum speed, New CEO, quarterly update and funding update.