SP Angel Morning Mining Note: Solgold, African Minerals, Stellar Diamonds, Diamondcorp

We quite like SP Angel when it comes to research as lead analyst John Meyer is an honest chappie, who produces detailed work and can be critical when needs be. Today's detailed note covers the big stories of the day including Solgold, DiamondCorp, African Minerals and Stellar Diamonds and a detailed macro view on the news that is shaping global mining and the AIM mining pond. We have now agreed to carry the SP Angel note every working day going forward.

African Minerals; shareholders lose everything, AIM’s flaws brutally exposed

If ever a case were needed for reform of the Alternative Investment Market then surely the disgraceful downfall of African Minerals (AMI) provides it in spades. Some might argue that the collapse of the iron ore price is behind the total destruction of over £2billion’s worth of shareholder value, but the reality is this merely provided the backdrop as I now reveal.

African Minerals was torpedoed by Frank Timis; Nomad & board complicit

On November 3^rd last year the Executive Chairman of African Minerals (AMI), Frank Timis, torpedoed his company’s critical strategic relationship with Shandong Iron and Steel Group (SISG). Mr Timis swooped in to devour the carcass of London Mining (LOND) and took personal ownership of the Marampa iron ore mine, Sierra Leone. African Minerals’ board “formally allowed” Mr Timis to proceed with this staggering act of reckless corporate greed, while the company’s discredited Nomad, Jefferies International, didn’t so much as utter a peep. On Friday African Minerals’ shareholders paid a bitter price for this abysmal regulatory oversight and devastating failure in corporate governance.

Exclusive: African Minerals; another shameful failure by Jefferies International

How much longer will the London Stock Exchange permit discredited Nomad Jefferies International to cover up the scandalous behaviour of its clients? After enabling IGas Energy’s (IGAS) lying CEO Andrew Austin to disguise his deeply discounted £7,000,000 share sale, it now looks like Jefferies has failed even more catastrophically in its duties to shareholders of African Minerals (AMI).

African Minerals (#AMI) CEO walks the plank as shareholders prepare for wipeout

African Minerals (#AMI) - end of another shocking tale. Shareholders wiped out, authorities look on

African Minerals (#AMI) says missed interest payment on bond & even if it can refinance shareholders will be wiped out

African Minerals (#AMI) - a grim update on its financing woes and slow death

African Minerals – Kerching for the Bears it’s tits up time at no-one is watching O’Clock

Given the heaps of abuse I took for calling this one as a nil (that is to say worth 0p) HERE and HERE and several other times on BearCast, I may be forgiven for having a celebratory ouzo today as African Minerals appears to have bitten the dust. Needless to say “its tits up time” was announced at no-one is watching O’Clock , 5.36 PM.

African Minerals (#AMI) does another "arms length" deal with convicted heroin dealer Frank Timis

The Matt Earl, Evil Knievil, Lucian Miers, Tom Winnifrith Summer Bear Portfolio revisited and updated view

Back in the summer, July 9, the 4 Bears sat down and compiled our top ten shorts for the summer. There has been one disaster – Concha (CHA) – but despite that an average loss (gain for us) of 18.2% per short is not bad. So where do we stand now?

African Minerals – Target Price 0p says Evil Knievil

I have made it clear that I believe that even without an escalation of Ebola, the balance sheet weakness of African Minerals (AMI), the debt laden POS AIM Casino listed miner founded by convicted heroin dealer Frank Timis, will be its undoing. Today the company tried to put the best possible spin on pretty dismal interim results.

Ebola, the tipping point & a question about African Minerals

Eric Sprott is the best known name in resource investing. His latest comments are on the subject of Ebola and are utterly terrifying. They are a terrifying at a human level. If however you own shares in certain mining companies you should be double terrified. Yes, I hark back to African Minerals (AMI).

African Minerals – Why Evil Knievil is correct to be short

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.

Evil Knievil sees Africa Minerals shares heading to near enough 0p – and Evil pere on Scotland

The father of legendary bear raider Evil Knievil is not only the greatest living classical scholar but in his youth played rugby for Scotland (his mother being Scottish). Somewhere the athletic gene passed his 25 stone son by. George Cawkwell (the father) is, like his son, a NO supporter but feels incensed that as an Oxford resident he cannot vote in the referendum.