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Why does the programme only run irrevocably until 20th March 2018? Is it possible thereafter the sp is expected to rise substantially which negates the efficiency of the share purchase programme?
"Amur Minerals Corporation ("Amur" or the "Company"), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, is pleased to announce that the Directors and Executive Management of the Company have today entered into an irrevocable, non-discretionary share purchase program (the "Purchase Programme" or the "Programme") pursuant to which the Company will arrange for a broker to buy ordinary shares in the Company from the open market on behalf of the Directors and Executive Management.
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The Purchase Programme will consist of 12 monthly purchase events occurring on the 20th day of each month beginning on the 20th April 2018 and ending on the 20th of March 2019. During the period, the Company has no power to invoke any changes to the authority and any purchases will be undertaken by a broker, acting independently of, and uninfluenced by the Company. The Purchase Programme will be for a total cash value of £60,000 (£5,000 monthly) with all purchases being made in the open market. Should the 20th of any month fall on a non-trading day, then the purchase will occur on the first trading day after the 20th. The results of each purchase event will be reported by RNS on the following day." RNS 17th April 2018
In complete agreement Joe. RY is all too aware of PI justifiable frustration over the last 12 months. This is now a binary bet. If this news is not what we are all waiting for sp could well fall further. But that would not appear to be in anyones interest at this point in time.
AMC has always been a tight ship. So no strong sp movement ahead of the event is absolutely par and should not be taken as a negative. And IF, yes perhaps a big if, the news to be rolled out is unprecedented and genuinely takes the whole project forward we could see multiples of todays sp overnight. Personally, I think the risks to the downside are very limited from here on in. Moreso when Scach, takes a long interest in the share!!! In fairness his/her predictions thus far have been quite accurate (if extremely negative!!).
Hi Joe,
This (much now anticipated) Media Week is unprecedented for AMC. Over the last few years, Robin with others in tow occasionally rock up to well tried and tested forums and simply provide updates on mining, financing, etc etc. For whatever reason this must be different. But the ink will need to be dry on the paper from the FE Forum before they can disclose. London is also a very interesting venue choice. Why? This is genuinely exciting.
Others have met RY face to face (I have not). To a person they have said he is honest, upright and transparent. If he stated he would release a Pfs on a certain date, I am firmly of the belief (based on others view of his integrity), that is what was completely expected and anticipated at the moment the phrase was uttered. Clearly there have been some huge developments (for better or worse) which have now delayed the PFS by almost 12 months.
If these developments are for the betterment of the project as a whole (and the sp.....eventually), I have absolutely no worry about the lack of disclosure in the interim. Imagine it might actually be because it was genuinely price sensitive news, which is what has already been stated. Not long to wait now either way..............
For the sake of balance. I do not feel let down by RY or the Board of AMC at all.. Without ALL the facts, which none of us have, it is simply not possible to make any reasonable second guess as to what is happening behind the scenes. All we do know with absolute certainty is that the hard work carried out by RY thus far while not delivering sp uplift (to date) has delivered quantum uplift in resources and opportunities.
Many PI's have scalped a % or two here and there, and made good money while averaging down. Others have not been quite so successful and sold out or currently sit on a paper loss. That is the nature of investing.
I am optimistic that contributors to this Board who have been heavily critical thus far will apologise, put their hands up & acknowledge they did not have a clue when the eventual multiple uplift in sp comes through on THE NEWS. Good luck all.
In an apparent age of codes of conduct, clarity, openness and transparency it does amaze me that BB posters can remain anonymous and hide behind silly nomenclatures.
If LSE insisted on proper vetting of their posters (photograph identity) the childish squawking might disappear and uplift the quality of the board content.
This must be positive news for AMC, that a seller can offload and find a buyer for 1.6m shares @ close to 4p. We haven't seen a 3m shares daily turnover for some considerable time. Hotting up for the month of September.
Drunkinftl - It would be good to learn who the more durable members of this exclusive AMC club are. i suspect there are a handful now who are holders for over a decade......................I am in that club. Enjoyed every trading day of the roller coaster.
Y-Alam..........to clarify. Please do not take too much notice of whether buys/sells are noted as such. This information is often wrong on these sites. However, the volume is likely to be correct. For every share sold there MUST be a buyer and for every share bought there MUST be a seller.
Agreed Y-Lam. Most unusual for trades of that size to pass through the books unless it is one of the sizeable shareholders in the Company still accumulating. I recently took some time out carefully watching the Arix and Pharmaxis interviews about LOXL2. Very impressive indeed and with further news expected third quarter 2018.
JoeBass,
An alternative approach would be to canvas support for your views among shareholders and get elected to the Board.
Personally, I think your views are well wide of the mark and will be proven demonstrably wrong. I have been invested for a good many years here (and topped up further after yesterday's announcement), but at present all our views might be right or might be wrong. However, on balance of probability from what "WE" all know after 10 years of watching and waiting, this project will move forward and will make shareholders good money. I have every confidence.
Scach,
Mmmm. you are not being completely transparent about RGM. I would suggest you simply copy and paste the link to their website and let others decide. >half a billion shares in issue + >250,000 warrants in issue. It is a hotch potch energy conglomerate with no proven value.