Was passing a newsagent this arvo and stuck the noggin in to have a look at that Resource Stocks article.Was going to buy it but saw how short the article was so just read it.Comments on it are from memory so forgive me if any of its off the mark and correct if needs be.
First of all it was right up the back of the mag.Interesting how Paydirt gave Aim a cover piccy/feature article and it ends up almost on the back cover of Resource Stocks.So I hope MF didnt pay too much if he had to fork over anything!
Second thing I noticed straight away is how much weight MF's lost.He commented he's been spending a fair bit of time in BFaso and it looks like he's been eating with the natives!Either that or the stress of the last year in getting Perkoa happening is starting to physically show.
What I did find interesting was how politically oriented the article was.When saying this I mean a goodly portion of the article was oriented towards how much Aim was trying to help the local economy and how much it has been working with the BFaso authorities.
Why such a political push?
Well MF's SELF PRESERVATION may have a good deal to do with it by making himself appear as the major connection between BFaso/Aim/Perkoa etc etc etc.And he's probably right.I would not like to see him go if we want to see Perkoa producing zinc within the next two years.Its just an impression but imo he's been THE major force behind Perkoa getting as far as it has and WILL be the only one that will see this project producing BEFORE the end of 2008.
Seeing Im on the timing of production,the Article DOES indeed say they expect to produce concentrate EARLY in 2008.Im betting this may be a slip of the tongue and they meant ore will be produced by this time.Perhaps we can be a little more optimistic and say perhaps mid 2008 for first concentrate.
Now rather than just dismissing PRauP1's post I thought Id take stock of just how accurate their info was.
Well if one gives them a little latitude for confusion of facts in any conversation that resulted in this info(one doubts they would have had pen/paper at the time)a couple of the points a VERY close to the mark.
Heres the post again for all to have a go over again.
------------------------------------------------ Subject: re: news is comming bring it on Stock Code: AIM - AIM RESOURCES LIMITED Posted: 20/04/07 10:47 Hotcopper Radio: AIM on BoardRoom Radio Posted By: PRauP1 Views: 513 Post #: 1721154 (In Reply to msg #1720771 from Sackblabbeth) Sentiment: Hold IP: 69.124.xxx.xxx Voluntary Disclosure: No Stock Held Sorry to barge in . I have been reading some of the postings here. Just to clear up the dust.
1. One of the directors was caught selling shares when there was a capital raising going on. NS had complained that not only was management diluting shareholders by issuing shares at very low prices, but management was issuing themselves options at little or no price.
2. NS has told management to clean up their act or the entire board would be gone. Does anyone follow AFRICAN PLATINUM and what NS did to the Chairman?
3. A new board is rumoured to be appointed, with someone well known in North American mining circles as the new Chair.
4. Dont be surprised about the gender for the new finance director.
5. NS isnt playing for scraps, the dice are being rolled for very high stakes.
6. It is a known fact that the company secretary that left was investor unfriendly. His arrogance towards shareholders was pointed out to the CEO in February in Cape Town.
7. Also, rumour is Ospraie, another hedge fund owns a large percentage now.
8. Westwind, a Canadian firm is rumoured to be pushing a share dilutive agenda. Seymour Pierce is unhappy that Westwind has taken over the 'investment banking ' role at AIM. SP, as you may recall, is the NOMAD for AIM.
SP weakness is due to the strong A$, not because there is something wrong with the company. With ROIC of over 40% and a payback period of less than a year, this company is well suited for 2008. ----------------------------------------------------
Sounds to me like this is either directly from a broker/analyst or by word of mouth,probably the later.
Im cant comment on the political oriented points in much of the post BUT points 3 and 4 are VERY close to what has happened.Sure the gender comment in point 4 re the chairman should have been applied to the Co secretary but all the same not far from the mark(you dont see agreat deal of women Co secretaries in the resources area).Point 3 was on target basically.
So just how much TRUTH can one aportion to the rest of the post.Well its an each way bet imo.DK spoke to Aim and it was said uncategorically to them that NS was not the cause the resignations.However its hard to believe one would see a routing like this without some kind of significant holder pressure.What I will be looking forward to with interest is just who the underwriter of the TSX issue will be!
d.
AIM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
(20min delay)