ANL - Amani Gold

[mobcat]

It sure is slow guys hopefully thats a sign there are a lot of i,s to dot and t,s to cross anything like this is painfully slow when the curly tops have to be involved so it,s just grin and bear it im affraid ..............i just want to know what we own but at the end of the day it hasn`t been a bad week to be in suspension hopefully next week will show some GREEN and BYR will start trading again sounds like a nice plan to me to think about over the long weekend enjoy the dream all and have and safe long weekend

 

[Pommiegranite]

Company announcement today

Uranium aquisition from KAL signed. 2 weeks to sign a document...yawn

So why the Suspension?

Any takers?

 

[sleeper88]

judging by the announcement, i guess BYR will resume trading this Friday

"The new agreement is subject to 2 key conditions
1. the agreement by the owner of certain of the tenements over which the company has an option to the assignment of the option to BYR and
2. payment of $1.75m in cash to the company

The abover conditions must be satisfied by friday 15th June 2007

 

[philmac]

Hi there,
I rang the company secretary on Monday who said the suspension was to finalise the KBR (KAL) uranium tenements and also a share placement to pay for them. He indicated there was no other reason. Hopefully it's a generous share placement for existing holders - like me. Fingers crossed.

 

[greggy]

Hi there,
I rang the company secretary on Monday who said the suspension was to finalise the KBR (KAL) uranium tenements and also a share placement to pay for them. He indicated there was no other reason. Hopefully it's a generous share placement for existing holders - like me. Fingers crossed.

Thanks for the info , philmac. I also contacted the company on Monday, but he was busy. I'm still waiting for a return call. This delay is fast becoming a joke.
DYOR

 

[Ruprect]

Greggy, im with you.

From my reading, this was a coded message to BYR. You must satisy these conditions by Friday, or the deal is off. As far as the KAL release goes, all the difference was between this and their last release on the matter was that they had moved from an "in principle" agreement to having "executed" the agreement.

What they are saying to BYR is, pay us the 1.75 million by Friday, and do a deal now with the people who actually own the tenements that KAL have the option over.

Having announced this deal months ago, BYR do appear to be dragging their feet.

The deal is good, so if it goes through, i'll be happy. I just hope they do better on timely announcements in future.

 

[sleeper88]

if in fact they are doing a share placement..why the hell are they taking so long..i mean, the entire market knew from the every start what BYR are purchasing, so whats talking so long..not happy with tenements?..more assets to be purchased but not finalised?..spin off?..

 

[Who Dares Wins]

if in fact they are doing a share placement..why the hell are they taking so long..i mean, the entire market knew from the every start what BYR are purchasing, so whats talking so long..not happy with tenements?..more assets to be purchased but not finalised?..spin off?..

No. I doubt it. They could wrap the deal up and do the spin off later like other companies do. I think its just slack dodgy management thats holding this back.

 

[mobcat]

Well if we get a ann today it`s going to be late looks like no trading till monday at earliest............ i think correct me if iam wrong they have to announce the deal today or it`s all over between KAL and BYR maybe the curly tops have got the better of em both stuffed if i know time will tell i suppose

 

[Who Dares Wins]

Even if the announcement does come through this afternoon to me there is still something obviously wrong here. It should not have come right down to the line like this. There simply must be something going on behind the scenes that people are not aware of to have held this whole deal up for so long and I have a feeling it isn't good. And as someone posted here a few days ago, when shareholders phone the company office and can't get speak to the people they want to that also is never a good sign.

I'm also concerned that everything had dragged on so long that if BYR ever do start trading again the stock will have lost any momentum that a U announcement would have brought.

Sorry if it sounds negative but its just they way it is.

 

[sleeper88]

I agree..something is definately wrong...could anyone speculate..or are we just thinking too much?
Also..if KAL does receive its money from BYR..they should notify the market..so I guess..if there's no announcement from KAL then could this deal be off?

 

[nvox]

Im brain dead with the flu atm so hope this makes sense.

One reason I think its taking a while is that there are other parties involved there is the Option Agreement between KBRL (KAL) and William Richmond which William Richmond has a 50 % agreement with KAL on 10 prospects in WA.

Also there is the Redport Kintyre East Joint Venture (50% Joint Venture Letter of Understanding between KBRL and Redport) on four WA prospects.

So basically BYR has to come to some agreement with the above as well as the new deal with KAL and if they are raising more capital or farming it off or splitting the company it will also drag it out as well.

edit
I've got the number of prospects wrong but the infos on pages 75 to 79 of the BYR Oct 2006 prospectus about the KAL agreement with Richmond and Redport.

 

[Ruprect]

Yep, as a holder here, im not feeling entirely confident. We should now expect an update first thing monday, if not, i think KAL will beat them to it with one.

I think that a few phone calls to the BYR office might be expected from shareholders next week. I wouldnt like to be answering them.

But who knows, they might yet surprise us with a decent announcement.

 

[nomore4s]

Yep, as a holder here, im not feeling entirely confident. We should now expect an update first thing monday, if not, i think KAL will beat them to it with one.

I think that a few phone calls to the BYR office might be expected from shareholders next week. I wouldnt like to be answering them.

But who knows, they might yet surprise us with a decent announcement.

I tried to ring them today, but everyone was in a meeting and they would ring me back. 3 weeks BYR has been in TH/suspension. Was told last week that they would come out of suspension the middle of this week at the lastest. I hope the news is really good or I've got a feeling there will be a major sell off. I've decided to sell out no matter what (but will probably hold my options), if the ann is good and the sp runs first thats good I'll take the profits and run if not I will just sell. The capital could be better spent elsewhere with a company with whose management I'd have more faith in.

 

[sleeper88]

well i guess if management is in a meeting..they've been discussing this issue for a very damn long time..3 weeks..has anyone tried calling KAL and asking them why the completion of this deal is taking so long..they must know something..
Just another thought..if KAL called off this deal and spun out its u assets into KAL Uranium, wouldn't they make more than $1.75m + 2m X 0.285c = $2.32m..i mean selling 25m shares at 20c would bring in $5m for KAL, and a significant holding in KAL Uranium.
Judging by KAL annoucement, if you read between the lines "give us the cash by friday or we'll spin off the u assets ourselves and reap a greater reward!"

 

[YOUNG_TRADER]

Guys I must apologise, while I think BYR has a great Gold asset thats worth 20c and a U spin off asset that should have added another 20c, the truth is the management is absolutely ****e,

There is no excuse for this, absolutley none,

They have been late every single time with every single announcement, they lie and give false dates when you call them, ie this week at the latest, or everythings in order etc

Clearly management are not interested in adding proper shareholder value, just earning their director fees,

While I still think they may pull off a u-float I will look to selling everything into strength next chance I get,

Why bother with a company like this, when I can pick up the phone and chat to FWL managment for 40minutes and see how hard they are working to create value, was the same with YML

From now on management will be in my top 3 when assessing a company along with the actual projects and the shareholder base/top 20/support

Very very very dissapointed to say the least

 

[nomore4s]

Guys I must apologise, while I think BYR has a great Gold asset thats worth 20c and a U spin off asset that should have added another 20c, the truth is the management is absolutely ****e,

There is no excuse for this, absolutley none,

They have been late every single time with every single announcement, they lie and give false dates when you call them, ie this week at the latest, or everythings in order etc

Clearly management are not interested in adding proper shareholder value, just earning their director fees,

While I still think they may pull off a u-float I will look to selling everything into strength next chance I get,

Why bother with a company like this, when I can pick up the phone and chat to FWL managment for 40minutes and see how hard they are working to create value, was the same with YML

From now on management will be in my top 3 when assessing a company along with the actual projects and the shareholder base/top 20/support

Very very very dissapointed to say the least

You've got nothing to apologise for YT,while you highlighted this company for most of us we all did our own research(or should have) on this company, and none of us knew just how bad the management would perform. Now we just have to hope that BYR comes out of it okay as it could open anywhere when it comes out of suspension, but this is the risk we all take playing in these specs. Hopefully there is still a bit of reward to come.

 

[stumo]

Yt I do second that reply - I have been lurcking in the shadows here for a while, learning how the game's played, and think its amazing how you pick a winner...

That said on the topic of BYR - I just think there has to be something else to come, as stated KAL have been trading for the past 2-3 weeks, surely BYR know this and if the deal is only involving them, and trading halt/suspension is correct, then the ASX would have been notified!

Bit nervious to see markets reaction when finally the announcement comes out (fingers crossed monday)

Stu

 

[mobcat]

Hey Guys i do understand everyones frustration with BYR,s top end but in defence of a legal system that we are all better of with than with out and sometimes it can be painfully slow for all parties especially when a assets have increased in the due dilligence period and there is clearly going to be a winner and a loser in this deal the curly tops will milk this deal for every extra cent and both parties will willingly pay the costs and the harder they present the deal the more money they make ............been here many times myself guys and I know it,s BS and extermley frustrating for all involved the book has been written and I hope the editing is finished come monday morning 9.30am release of ann?

I do think it would have been advisable for BYR to update the market during suspension but I would say legally its a minefield due to a couple boxes needing a tick ...............I do think that it will all be worth the wait in the fullness of time and I wouldnt be to hasty on bailing on BYR it could cost dearly I do hope they get a Monsunia gold update with the u308 ann but if they dont they will release it soon after we havent heard much from Mansounia since the end of Febuary so news is due as well with the MD having returned from Guinea a month ago the coming week is definitely a pivitol point in BYR's history and I hope we are all singing there praises this time next week

 

[Ruprect]

Hello? Mr Burey? Are you there?

Oh, surprise, yet another day without an announcement or update, even though they were due to finalise the agreement by Friday.

I'll just have a little snooze while i wait for the announcement. It may be a hibernation.