Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
I get what you are saying TDT and agree at this stage there is no sense in as Sasa put it throwing the baby out with the bath water.One thing is sure if we hadn’t got our votes in we would be stuck with an awful deal and give a good living to the bod who would be very comfortable for a good few years,leaving us in limbo.I sincerely hope Mr Young makes the effort to do better for us
100m pounds down to 100m dollars is a big kicking for us with the flick of a pen,I understand your view,but he must do a better job
MD
Am I mistaken or was the staff figure quoted as being 17.We’ve been told that the work on the endless production of the yet to be seen TEO was done by consultants and contractors.The minesite is closed and winterised.So is that Russian or uk employees.17 staff all working the printers must have been the most they’ve done for a few years:))
MD
My question is:- Why did only 25% of shareholders vote on such an important matter!
MD
Well Lucando you asked and he told you.B@#ger everyone else I’m agreeing with him.Just to hear that sort of sp target gets my vote.Seems like the best candidate as a new board member:)
MD
First I would like to thank cbs and bb2 for their time and effort in their reports and thoughts on this meeting.
Any one attending a presentation by Robin Young is fully aware of his ability to work a room,it would seem as though he has not lost his touch.As we are also aware it is as much what he does not say that is sometimes the most telling.IHope that if we get that far the AGM in December will be a bigger opportunity to question him on poor past performance and very poor communication.
It seems there were some notable absences from the meeting,Where was the chairman and where was Mr Bowen’s who we must assume is an integral part of any negotiations with his time in Russia surely giving him good language skills.
The fact that none of the members on the company panel had any idea what the cash at bank figure was is as surprising as it is unbelievable.I had hoped that the situation of the sale of the wholly owned subsidiary status of the Cyprus company could have been discussed as it is my feeling that funds to buy this company do not have to come out Russia if they are in a Cyprus bank to buy a Cypriot company,but that’s maybe just my take.
No such thing as coincidence eh.now we have a no vote the printer at their offices have at last managed the 2000 pages to be delivered to each Russian department.Praise be to God of you can do it if you can be arsed.
Once again thanks to all the people that could attend it was a great help to those of us who could not
MD
I was only joking,but do you think they have wrecked the place?
MD
They are probably busy wrecking the place at the minute
MD
Thanks for the reply CBS I’m not expecting much,in fact I’ll be surprised if RY is there,but I hope he is.I also hope there is a good turnout of pi’s that will make his appearance as difficult as he deserves.
Please give him plenty of stick before he goes back to California.
MD
Oh yes I’m sure there are so so many ii’s lining up to finance this vibrant and active bod.
No no I don’t want to go back to my cell aaaaaaghhhhhhh
MD
A no vote is the only option
VOTE NO ITS AN AWFUL DEAL
RY will will not need to be around for the possibly arriving(or not) stage payments,because he can make sure he is receiving that fat salary for as long as he can
MD
A no vote crashes the company.What complete Rubbish
VOTE NO ITS A BAD BAD DEAL !!!!!!
MD
Are you sure CBS.Isn’t it highly likely that as with most things in the last few years they’ve contracted outside consultants;))
MD
I totally agree Meadow,they man sure has got some go
MD
TDT,am I misunderstanding you,does a hand raised in the room count as a vote no matter the number of shares you have.
MD
He he I take your drift.My main point is that it puts out there that if it gets voted down the doors don’t immediately close that my point
MD
Thanks for that very full assessment TDT.It seem there is enough in the bin to sustain the company for a good while if a NO VOTE can be achieved.Any monthlies or fees should be able to be paid as we have been a lot nearer the bone financially in the past so all should be ok until the AGM.
Perhaps we could curtail his salary at that stage.
MD
Hi,what would be your best guesstimate on AMC’s cash at bank.I ask to make an estimate of how long can they keep the lights on.
Would much appreciate your thoughts
MD
F1ddy,there is no transaction with a Russian company in the proposed deal,it is a deal between two Cypriot companies.Does anyone know of any restrictions on any Cypriot banks or companies? If there is I’m not aware of them.
Either way it’s a bad deal for us shareholders VOTE NO
MD
Hi Shadowless,the Russian article referenced the 2012 jorc estimate,that is what I was making the point about.They are putting it out as being a good deal even at that estimate.
My view is that any valuation should be based on what we were told was the Russian standard,namely The TEO
MD
There seems no point in wishing physical harm to people that should stop.
On the deal that has been presented to us to we have the choice to vote yay or nay.
My concern is the terms of the deal,that is the problem I have.RY is choosing to take the first worst offer and be self centred enough to think we will want to back him after years of poor performance from him and the board.For years they have told us the fedf or the RF are enthusiastic towards the company.The truth is they were not.The truth is that RY has been a bit of a sap with negotiating anything from finance to jv’s all the way and just thought he along with Schafer could stay in control.He is the ceo he has been inept, it is on his head and when the walls came tumbling down he just tries to find a way of salvaging the salary stream instead of doing his best for shareholders.
Ignore the tosh about panels and committees,they are trying get all they can and laugh at the idiots that put money into this project for years.Are we really going to sell the minesite based on a 2012 Jorc estimate …….WHAT!!
On top of that Nothing promised financially to the shareholders.
VOTE NO ITS AN AWFUL DEAL.
MD