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Gold/Mining/Energy : America Mineral Fields
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To: Josh who wrote (61)1/2/1998 10:33:00 AM
From: Keith Morley  Read Replies (1) of 84
 
Hi Josh: Sure looks like AMZ anticipated this news when they appointed Simon Brownlie as CEO on Dec 22, 1997 to replace McMurrough. At that time the Directors gave him:
Quote:
a mandate to undertake a full review of the Company management, operations, corporate structure and corporate objectives. ......... .... It is expected that Mr. Brownlie will report the results of his review to the Directors before the end of January.
Unquote

At the same time the press release also indicated that McMurrough will continue as Chairman of the Company and continue to be involved in project assessment and development.

If and when this report is made public then we might be able to determine "what's left of AMZ now".

Don't quite understand your comment:
"Congo won't leave AMZ with this mess without being sure of what they do".

Maybe the country is looking for a better deal with payment up front similar to what Tenke Mining did a while back. ($50 million I believe). Maybe this is why an indirect communication was received to present an opportunity for a revised aggreement to be negotiated.

At this stage all we can do is hope that the deal will be salvaged.

As 10:00 am on the TSE AMZ is B$1.86 A$2.14 LT$2.03 Down$1.37 Vol 9500

Looks like the market does not like this.

Regards

Keith
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