JSE listed Insimbi Refractory & Alloy Supplies Ltd has issued a cautionary notice to shareholders that the board of directors of Insimbi is pleased to announce that in terms of a memorandum of understanding concluded between Insimbi and the controlling shareholders of Amalgamated Metals Recycling Proprietary Limited, that Insimbi intends to acquire 100% of the AMR Group, as well as the properties from which the AMR Group operates.