I have been goaded into looking into African Minerals (AMI) by Bulletin Board Morons laughing at Evil for being short given that the stock shot up by 47% yesterday. Evil went short at 20.5p the stock is now 25p (valuing African at c£85 million) and falling and I agree with him that the target is near as matters c0p. Here’s why.
The company was set up by convicted heroin dealer Frank Timis. He may not be running it now but has lots of shares. As a watertight rule the heroin dealer always makes money from his companies, shareholders do not. Beware the Timis legacy.
There are two African Minerals – the PLC and the operating company. The PLC – as it has admitted – is almost out of cash. That has to be addressed somehow.
on ShareProphets | Comments