Great AMG update from TORTLAWYER on Raging Bull inside:
AGM summary sorry it took so long but here is basically a summary of what happened at the meeting the usual business of the agm took place first and then the fun started Gary spoke first about the focus of ibic right now which were underway They included financing, orders, authorization and listing.
*financing- we do not need a heck of alot of money to get things under way, accordingly we are after borrowing with interest rather then in exchange of equity. we are on our way in this regard the eadb needs some further info but that should be forthcoming.
*Orders-there are many sample orders which have been sent or are being prepared we have sent to Israel, palestine, iran, denmark, Germany Japan lybia( i think that was it). most importantly there is a very large Iranian order that we are waiting for the letter of intent to be sent shortly. Hans actually spoke about it and said that this order could come at any time
*authority- we have the approval of many government bodies in terms of export etc and has taken steps to actually own the land.
*relisting- the application is in we are waiting and if approved we will be sent directly to cdnx along with the other cdn listed companies. we will not need a sponser this way and the process is fairly simple. we should hopefully hear something regarding this shortly at least some of the cdn's comments relating to the application relating to building shareholder value(the price of the stock) , he spoke about this and basically felt when the above things are in place he would work on spreading the ibic word. he has been very quiet up till now. it is not a good time to meet with brokers etc. but when we are back to normal watch out. gary in a former public company did road shows with brokers and visited 25 us cities in about 25 days. getting the investment community interested will not be a focus until full listing however there is not better time to buy then right now IMHO dr.
*Kretschmar then spoke about the world class deposit and went into some detail relating thereto. basically we have one #### of a huge gigantic mine worth tonnes of money and has no asbestos as set out in 3 different scientific test. it is amazing quality product which has outstanding value (ps most of his comments sounded like greek to me lol very technical analysis but brilliant man) Hans spoke next and I must say he is a brilliant speaker and writer. Infact he wrote a book which is avaliable on amazon.uk. He is an amazing man, started up in the past the shawa mine , and built it from scratch and made all sorts of deals to get financing from buyers of the product and did an amazing job. well he is doing an even more amazing job in uganda. He knows the language, the culture and what has to be done to get things moving he again spoke about how amazing this world class deposit was. He spoke about the conference which was just put on in Uganda and Canmin was the focus. they basically had a booth and showed samples of vermiculite and were the star of the conference. actually we are the only company mining in uganda right now and gary and hans made it clear that there may be other opprotunities for ibic in uganda. the government has made it known that we may get the fast track on develepment as we are already there relating to oil projects, limestone projects and others. There were some other exciting developments but It is getting late and I should get home. great conference and One comment which i think is important. the word speculative came up and although gary said quite rightly so that until we have a year of profits under our belts we are considered speculative in his eyes right now, however according to one member of the audience the mine is there, it has proven reserves and from this point of view there is no speculation at all. Ok that is what I can remeber off the top of my head. There may be some errors or omissions in the before mentioned so read it with that in mind. anyhow good luck and we are looking great with IBIC |
