Australian (ASX) Stock Market Forum

AAM - A1 Minerals

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im suprised nobody has had nothing 2 say about the ceo leaving and the furture of the company and what is install for aam
 
musicman74 said:
im suprised nobody has had nothing 2 say about the ceo leaving and the furture of the company and what is install for aam
Click to expand...

Well, at least they got rid of him. What next would be: when they get a new ceo (maybe soon), and he looks at the cash situation and decide what to do. I wonder how much lower the share price can go.
 
Will have to wait and see how it plays out. i thought they would have had enough cash earning from gold to fund themselves thru whatever..

but the spp they had and the current price is a joke.

i am glad he is gone, as the company was going no where but down.. lets hope we can get someone else in good to steer this in the right direction.

untill then i sit and watch my money going down the drain..
 
Volume has been huge the last few days - 5.2m, 4.9m 3.3m there has been a lot of selling going on. I wonder if the CEO is unloading himself of his stock?

I'm not holding a lot of stock but really unhappy with the current direction of the share price. Hopefully a new person in the top job can guide this company into a better place.
 
volume's flattened out a bit from the past few days.. but will prob take one big seller to get everyone to sell down
hopefully it has bottomed - though it's unlikely considering what they'll do with the failed SPP. 10c?
 
photoshopdepth said:
volume's flattened out a bit from the past few days.. but will prob take one big seller to get everyone to sell down
hopefully it has bottomed - though it's unlikely considering what they'll do with the failed SPP. 10c?
Click to expand...

They shouldn't do more SPP anymore, that's only going to drive price down further (and without getting the money) unless they are going to do at <5c (just a random made up figure, don't question me on how to get 5c). They could offer some insto investor (at least non public investors) a big chunk of the company say at 15c per share. So that investor can get a material chunk of the company without driving the shareprice too much.

The ceo could be unloading his stocks (maybe out of revenge?). I dunno and am speculating.
 
The spp raised $0.7m.

They were aiming for $10.6m.

Well, nice try, eeeeek.

Hope the new board lifts the bar.
 
Any idea what is going on today? Up 20% on no news, huge volumes. More than the last 3 days combined, and it's not even 11am.
 
And to add to this its mainly buyers!

3-4mil of them seem genuine today.

as for 1-1.5mil in sellers who aren't dreaming.
 
My posts gone?

anyway i just read the rules again.. sorry for posting a link to another forum

google a1 minerals and you will find the report posted on another forum
 
I agree cash is very short
They seem to be producing the gold so wondering where the money is going
I think Williams needs to answer a few questions about the finances
But that sure wont happen now
I am very reluctant to put more money into this
Till the company has a new C.O with a record of successful mining

When David H gives a stock tip thousands jump into the stock
the stock goes up almost always then after a week or 2 it tends to settle down again


just my:2twocents

James
 
J&M said:
I agree cash is very short
They seem to be producing the gold so wondering where the money is going
I think Williams needs to answer a few questions about the finances
But that sure wont happen now
I am very reluctant to put more money into this
Till the company has a new C.O with a record of successful mining

When David H gives a stock tip thousands jump into the stock
the stock goes up almost always then after a week or 2 it tends to settle down again


just my:2twocents

James
Click to expand...

I agree with above.
David H's words did not seem to carry as much weight as last year given his hypothetical portfolio was down 30% ytd (or 40% without recapitalisation).

You see some volume again today as well drove the prices up to 14c again. I'd still be cautious to get back into this one. I'd be rather worried if they don't get a replacement ceo soon (that could tell me that people who looked at the situation didn't want to take it)... just my opinion though.
 
St George Mining Ltd is about to float on the ASX.
They were mentioned in ASX release of A1 Minerals.

Here are a few extracts ......from their prospectus.
St George Mining Limited was incorporated on 19 October 2009 and has two wholly owned subsidiaries – *Desert Fox Resources Pty Limited *(*which owns 100% of the East Laverton Property*) and Blue Thunder Resources Pty Ltd (which holds the Company’s 80% interest in the Pine Creek Property).

*On 5 November 2009,* the Company as guarantor and its wholly owned subsidiary, Desert Fox Resources Pty Ltd (“Desert Fox”) *as purchaser entered into a Sale Agreement with A1 Minerals Limited for Desert Fox to acquire a 100% interest in 5 Exploration Licences and 5 Application for Exploration Licences (subsequently granted to A1 Minerals Limited and held in trust for Desert Fox))

It's all rather interesting :)

They also purchased Narnoo leases for $300,000 and they "got" some other leases. OH and they are issuing 20m shares at 20cents for $4mill BUT the "sponsors" can get 100 lots of 100,000 shares by proving up 1m oz etc see section 10.1.2

OH and do you recall this happening in Nov 2009 :rolleyes:
 
AAM shareholder said:
St George Mining Ltd is about to float on the ASX.
They were mentioned in ASX release of A1 Minerals.

Here are a few extracts ......from their prospectus.
St George Mining Limited was incorporated on 19 October 2009 and has two wholly owned subsidiaries – *Desert Fox Resources Pty Limited *(*which owns 100% of the East Laverton Property*) and Blue Thunder Resources Pty Ltd (which holds the Company’s 80% interest in the Pine Creek Property).

*On 5 November 2009,* the Company as guarantor and its wholly owned subsidiary, Desert Fox Resources Pty Ltd (“Desert Fox”) *as purchaser entered into a Sale Agreement with A1 Minerals Limited for Desert Fox to acquire a 100% interest in 5 Exploration Licences and 5 Application for Exploration Licences (subsequently granted to A1 Minerals Limited and held in trust for Desert Fox))

It's all rather interesting :)

They also purchased Narnoo leases for $300,000 and they "got" some other leases. OH and they are issuing 20m shares at 20cents for $4mill BUT the "sponsors" can get 100 lots of 100,000 shares by proving up 1m oz etc see section 10.1.2

OH and do you recall this happening in Nov 2009 :rolleyes:
Click to expand...

I dont believe they were chasing money to fill their pockets around then. so no one was made aware, as usual...

lets hope when we get a new managing director something starts happening and the shareholders get something back for being very patient..
 
Re not short of cash! Weren't they?
09/12/2009 1.25m options converted
15/12/2009 1.1m options issued to pay for accommodation
29/12/2009 268,500 shares sold by JWilliams on 24th
and 500,000 options converted.
It goes on and on
They were short of cash!
 
Just noticed the latest announcement.

Is it unusual for a new Director to hold (well his wife holds) $1.6mil in shares (11247775 X.145)

Not that I think that's a bad thing as he'll have a vested interest in the share price you'd think.

And as I've said before I'm a holder, but only a very minor one.
 

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