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test,test,test

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slothman3000
Asprat
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mimbrit
rac
J99
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Erictheinvestor
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600
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test,test,test - Page 7 Empty a small investor, but not short

Post by rac Tue Mar 12, 2013 12:24 pm

I also saw the dream that others have mentioned, but fortunately only recently, so I have under £1k invested in Angel Mining.

I would like to know what happened, how it came about and how it will be prevented in future. Honesty needs to be upheld, and quite apart from the financial loss, it casts doubts on the AIM market itself.

While, for me, it is only a small amount of money involved, I still hope that the situation can be righted. Loosing money because of a bad investment is one thing, but when it is something else, it needs to be sorted. We need to keep digging! Smile

I hope others with small amounts register as the number of investors may be as important as the amount lost.

rac

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Post by stuart143 Tue Mar 12, 2013 7:25 am

Apologies it seems he was being helpful in posting something he had found so no luck there.

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Post by 600 Tue Mar 12, 2013 5:02 am

On the surface he came over/comes over as quite knowledgeable but that is because he chooses to comment on areas most of us are not up on. A bit like somebody quoting all the Latin names for the plants in their garden! Who cares about that sort of communication? Has it really got an ounce of relevance to what others are discussing? When you get down to it there is near enough zero facts that are helpful - it all designed to boost his ego - it goes without saying this is all IMO!

600

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Post by jaf1948 Tue Mar 12, 2013 4:51 am

The sad thing is that I don't think he has anything to contribute to our position any more than he had anything to offer when the company was still trading.

As for Moneypenny getting her LSE ASBO, join the club and wear it with pride !

jaf1948

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Post by stuart143 Tue Mar 12, 2013 4:51 am

Goddamnit we have a criminal mastermind in our midst I'll be watching you rofl. If anybody rises to GedW it's pointless and he'll just keep posting to annoy everyone effort best spent on other things.
So we haven't been pre packed is my reading of CG response received by J99 and although we only get a couple of lines at least shareholders mentioned.

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Post by Moneypenny Tue Mar 12, 2013 4:47 am

Great thing on here....you can get away with swearing !! lol

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Post by 600 Tue Mar 12, 2013 4:45 am

Well, well. It is a crazy world. If anybody should have been banned then it was GedW! He will get is come uppance one day. He is a born loser, a toss-pot extraordinaire!

600

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Post by Moneypenny Tue Mar 12, 2013 4:33 am

I’ve been banned from LSE for advertising this Forum!! (24 hours)

I wanted to give GedW a run for his money! lol

GedW CANNOT track you down...why would he....sad bastard!

ONLY ME has access to email and IP .... and no I can't see your internet provider! I have intention of changing passwords/usernames (didn’t know you could!) It’s of no interest to me..... I’m really not that sad!

Why would he want to scare people...??!!

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Post by stuart143 Tue Mar 12, 2013 4:15 am

fired this up on lse

Richard is of the new younger generation of lawyers, he's about 40 and is very highly rated. He's a star. He has a huge intelligence and a great deal of common sense. Beyond my firm, I would look to Nigel Boardman at Slaughter and May who is a sound and tough lawyer who gets things done. And, of course, Anthony Salz of Freshfields. David Lewis Senior Partner Norton Rose I would have to pick Anthony Salz as the corporate lawyer I most admire. He is certainly one of the best corporate lawyers in the UK. He is pleasant to deal with and has a commercial mind. Importantly, he doesn't waste time on bad points in a meeting - there is nothing worse from the client's point of view than seeing lawyers quibbling. Then there's Edward Walker- Arnott who is senior partner at Herbert Smith. He is a very wise bird. He has immense stores of experience -experience which is varied. He's not just exceptionally good at corporate law but he's also more than competent in insolvency and litigation. And what is particularly admirable is that he doesn't dilute his ability by his varied practice. These are just the two best corporate lawyers who sprang to mind, but obviously there are numerous other very competent legal minds out there.

I've asked that he approach one as he seems to know them on some level and to post here

stuart143

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Post by Guest Tue Mar 12, 2013 2:51 am

The time is 15.40 on 11-03-2013
We now have 96 registered with 23 members declaring losses on and above £ 10,000.
The total to date is £ 728,440 so I think we can safely say that if we include the remaining 73 the total is easily over
£ 1,000,000.
There are many of us holding in nominee accounts which show numbers of between 50ml to 250ml so many more members yet to join.

Guest
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test,test,test - Page 7 Empty Mr Gedw and jaf1948 on the LSE Forum

Post by Sorte_Engel Tue Mar 12, 2013 2:34 am

Jaf

The words you are looking for are 'sanctimonious', 'little' and 'tw*t'.

J99

Well done for the CG reply. Not unexpected though.

Sorte_Engel

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test,test,test - Page 7 Empty Well thanks J99

Post by 600 Tue Mar 12, 2013 12:55 am

The reply may not be what we wanted to hear but I do feel that this approach is better - the fact that we got such a quick response is I think indicative of that. All is not lost yet (IMO) as the next few weeks could result in a positive cash flow from Nul. There are a few other things to bear in mind - we still don't know the outcome of the Nuna report or how this might impact a JV. All in all we do have something to fight for so lets use our heads rather than our fists!

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Post by goooba769 Tue Mar 12, 2013 12:18 am

J99 nice to see a reply I suppose!

Reading the reply sounds grim and I don't see us getting anything.
The recovery plan is for the ltd part of the company and not the plc. Also sounds like they still aren't producing surplus cash from Nal. Shafted

goooba769

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test,test,test - Page 7 Empty E-mail sent to CG this morning - Replied already

Post by J99 Mon Mar 11, 2013 11:49 pm

I e-mailed CG this morning and have already received a reply. Here is my original mail :


"Dear Andrew and Stephen,
Due to a lack of accurate information, rumour and speculation are currently rife among shareholders of ANGM as to whether their company can be revived or not. It still appears to be in profitable production, so can presumably be classed as 'of doubtful solvency' rather than 'insolvent'. It is feared that the ANGM holding co. may be allowed to go to the wall taking shareholders with it, whilst the subsidiaries, which still retain all the assets, can continue to operate and generate profits, now debt free, without so much as a pause for breath. Indeed, it appears that a new Arctic Mining website sprang up as the old Angel Mining one was taken down, has our fate already been pre-ordained? It begs the question, what did we actually own a share of, if viable assets remain but Angel Mining Plc shareholders are wiped out?

One hopes to hear that the above scenario is merely a product of over-agitated imaginations, that the true picture will turn out to be far more palatable, and that some semblance of our shareholder value can be salvaged from the situation. Since ANGM, or its subsidiaries, still appear to be in active production, one would hope that the
administrators will do everything in their power to uphold their principal remit of nursing any ailing company back onto the road to recovery, wherever possible.

Any information which you are currently able to pass on as to the prospects of Angel Mining Plc continuing to operate as a going concern, and the manner in which they may do so, will be gratefully received by the shareholders. I look forward to hearing from you in due course.

Regards, xxxxxxxxx"

Their reply :

"Angel Mining Plc (in Administration)(“the Company”)
Thank you for your email.

I can confirm that Andrew Beckingham and Stephen Cork were appointed as Joint Administrators of the Company by its directors on 27 February 2013. The appointment was made in view of the Company’s insolvency.

The subsidiary companies within the group are not directly subject to the scope of the Administration. Two of these subsidiaries, Black Angel Mining A/S (a direct subsidiary of Artic Mining Limited which is 100% owned by Angel Mining Plc) and Arctic Mining (Gold) A/S (a direct subsidiary of Angel Mining Plc) are registered in Greenland and, hence, are subject to Greenlandic law. These companies hold the relevant mining licenses issued by the Greenlandic authorities but are themselves insolvent. The other subsidiary, Arctic Mining Limited, which is registered in the UK, is also insolvent but is presently seeking to implement a recovery plan with the agreement of its secured and unsecured creditors. The achievement of this recovery plan will be dependent upon the on-going co-operation of the creditors, the availability of new funding and the ability of the Company to generate a trading cash surplus from its on-going mining operations. It has not previously achieved this so the position remains under close review.

The Joint Administrators fully understand the concerns expressed on behalf of shareholders and will be keen for further information to be made available in due course. The law lays down a procedure for the release of information to creditors, alongside the Joint Administrators’ proposals for the achievement of the statutory purpose of the Administration. This information, when available, will be filed at Companies House and, as such, will be in the public domain.

It is as yet too early to say whether any shareholder value will remain in Angel Mining Plc but I can confirm that the Joint Administrators are mindful of their statutory duties and act as officers of the Court.

Yours faithfully,

Tim Grimstone
For A H Beckingham
Joint Administrator

Tim Grimstone
Senior Executive
Cork Gully LLP
52 Brook Street
London
W1K 5DS

T: +44 20 7268 2150
F: +44 20 7268 2151"


J99

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test,test,test - Page 7 Empty pre pack

Post by stuart143 Mon Mar 11, 2013 10:47 pm

Nearly 7 weeks since this all burst now and no sign of the above as yet but sufficient time to allow for the above type of sale so imo it has not been pre packed. They look as though they are exploring other avenues will we benefit/be ok who knows.
Somebody with corporate knowledge is going to be needed soon if the action group is to move to the next level plenty of people pledging funds to do so but names on a postcard please to Moneypenny if you have such knowledge and are prepared to use it to assist others.

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Post by Moneypenny Mon Mar 11, 2013 6:07 pm

I'll send you a private message and see if you get that?

let me know if you don't. thanks

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Post by Moneypenny Mon Mar 11, 2013 6:04 pm

Thanks for posting. My objective at the moment is to identify people from this board that are serious about an Action group, by having a private forum a forward plan may estabished itself, there are lots of ideas and opinions swimming around but is needs direction ! If one or two people do not come forward to take on some actions...there is no "Action group". We do need someone to take the lead, I'm happy to offer the building blocks but leadership is another matter. I've never been involved in an Action group before...no idea of the protocol!!

If the Action group starts to take off then the next step will be proof of shares.

I'm managing this forum, arranging to meet Nick and offering to do any administration duties, I don't have the intellect, nor can i give any more time to take it to the next level

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Post by J99 Mon Mar 11, 2013 3:59 pm

Just to add my loss is around £22K. Bearable and not as important as good health, so I'll get over it. I do feel stupid for not heeding little warning signs, perhaps the rampers did do a good job with the rosey tinted specs and I was influenced. Perhaps greed just got the better of me.

On another note, I would imagine that if there were posters with an agenda influencing people to act in a particular way, then one would assume they would currently be even more active on the boards, to try and misdirect proceedings? We should perhaps be aware not to take everything at face value. The OCH action group did not allow unverified posters onto part of the BB, they had to submit proof of holdings first.

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Post by J99 Mon Mar 11, 2013 3:37 pm

Hi Moneypenny, I thought I'd better register over here as well. I had intended to try and forget about my loss in ANGM and move on (hoping BMR or OXS would recoup my losses) but was moved to concoct an e-mail to CG to see what they may say.

I must re-iterate that I'm not really leadership material in this particular situation and have little knowledge of corporate procedures etc. OCH was better placed in having several competent holders to take up the reins. Perhaps one or two will yet emerge here to share the workload with you.

It is hard to know how to proceed, but personally, I would be sounding out advice from one or two legal brains as a first resort. I would even try to contact one of the previous onsite mine managers at Nal to see what they knew. I suspect they could be key witnesses should any dodgy goings on have occurred on their watch (perhaps part of the reason they departed?)

Anyway, just some thoughts. Thanks from me as well for helping out, particularly as you are not a holder any more.

J99

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test,test,test - Page 7 Empty ANGM Action Group

Post by Dunkstar73 Mon Mar 11, 2013 11:05 am

Hi Moneypenny
Firstly, I appreciate your efforts in setting up this forum. I am interested in joining the Action Group. As a holder of 1.05 million shares, I have been investing in ANGM since December 2009 and stand to lose more than £23,300. Tried sending a private message but got the '7 day' message!

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Post by Moneypenny Mon Mar 11, 2013 7:25 am

2 people so far have come forward to join the Action Group, I have added these members and they now have access to the Action group only forum, this will be a private forum. Also I think a voting system can be set up on here, so any decisions could be voted on!

It's important to create a list of "real people", this gives structure to the group and true representation on who is really interested in a Action group. If official representation is required we then have a list of names that can be passed on along with the amount of shares the group hold between them. This is why I have asked for the information.

Any suggestions, thoughts - please let me know!

Moneypenny
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Post by Moneypenny Mon Mar 11, 2013 4:30 am

I'd rather not start taking any money until we have someone prepared to become a member?

It may only be £35, will we still get the advice?

Also just to add , when I start adding to the member group i will set up a private forum on here that only those group members will have access to. There may be information we do not want to be made public

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Post by Guest Mon Mar 11, 2013 3:57 am

Just read your post moneypenny.
For me the best way forward for now is to keep anonymity and start finding corporate lawyers that we can post here, select and then put to the vote. We need a serious lawyer with a fantastic kill ratio of at least 90%. No one here should be involved in money collections, this may have tax implications as the case grows. Put a lawyer up for selection and he will be paid by way of: fee divided by all of us and he receives a cheque from each of us with ANGM written on the back. Trust me, the lawyer has a secretary to count the cheques and only the lawyer gets to know who we are otherwise as I initially suggested on the LSE forum we should have started this on facebook.
Thank you.

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Post by Ahsoka Tano Mon Mar 11, 2013 3:40 am

I will donate. Can we have an email address for PayPal transfer etc?

Thanks so much Mp!

Edited to say, I think email membership to sharesoc.org is only £35. Will that suffice?


Last edited by Ahsoka Tano on Mon Mar 11, 2013 3:59 am; edited 1 time in total

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test,test,test - Page 7 Empty Taking this forward - time for volunteers!

Post by Moneypenny Mon Mar 11, 2013 3:24 am

Dear All,
It’s been one week since this Forum was formed and I feel we've had great interest. Also just to add , many thanks for all your kind words.

I believe we now need to look at where we are at and to try and bring in some organisation and direction.

I’ve tried to read all the posts from here and LSE to get the general feel and how you’d like to progress. I don’t have any shares so I cannot tell you how to proceed but I can suggest possible direction/options you could take. Ideas I've read from posts and private messages I’ve received.

Key points
Administrators need to be told we are trying to form an Action Group (J99 has done a proposed email to Cork Gully) maybe this information could be incorporated into this if he agrees?

A member kindly sent this link to me www.sharesoc.org . Someone needs to join for a fee of £95, we could then get free advice on the best way forward and find out if we do have a case?

Rogerdoger has knowledge of the OCH action group. You could follow their model where people donate £1 for each 1k shares owed. Apparently they have employed a corporate lawyer to act on their behalf.

Could there be a possibility of someone taking on the case for a no win no fee arrangement?

It’s all well and good having ideas but volunteers will need to come forward to take this further.

We currently have over 80 people who have joined the forum, how many are actually owners of shares and want to take this forward?

We need to start organising properly to find this out. I suggest the next step is for all serious members to email me or send a private message with your real name/username, how many share you currently own and where these shares are kept. I’ll create a members group on the forum, I will add members as I receive this information.

If you want to proceed with the sharesoc.org membership, I am happy to set up an account and each member will hopefully only need to give £5 to cover the £95. If we proceed no further and we have funds left we can donate to Cancer Research?

I do understand when people start giving out personal details and handing over money there needs to be a good degree of trust. I work for the NHS and have access to public records, I am fully aware of confidentially and data protection. If you’d all rather nominate someone else to do the accounts that’s ok with me. I have been involved in the court of protection process so I have experience of keeping and managing accounts.

Possible Actions needed.
All serious members to contact me with your details as mentioned above
A volunteer to notify Administration ( contact J99? over on LSE)
A volunteer to become a member of the sharesoc.org to get free advice?
Looking at legal fees also no win no fee etc
Set up an account (please advise if you’d like me to arrange)

I’m happy to help co-ordinate this Action group but it’s now down to you guys to start putting yourselves forward to take actions and deciding on a plan.

Regards
Moneypenny






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