Tracking

Wednesday 22 June 2011

Berkeley Mineral Resources BMR

Well they finally issued their RNS this morning on the acquisition of Kabwe and as I suspected there was not much reaction on the sp. There were 22M shares traded in the first 15 minutes but the sp moved only 0.3p!! The RNS announced that there would be a placing of 145M shares at 4p next Tuesday and with each 2 shares there would be an excisable warrant for 6p a share. In other words more dilution! There won't be a JORC RNS until the end of July so I don't see much upward movement in the sp before August. I still have my sell order and it runs out on the 1st August so it will be interesting to see whether it is triggered!

Update: This morning the sp has fallen to just over 5p as many shareholders have got fed up and are selling to use their money elsewhere. I have thought about selling and buying in at a lower price but I am afraid I am afraid I might get caught out if the sp rises! I see that this is going to fall to around or even below 4p next Tuesday but I am still holding and may top up to lower my average price if it goes lower. Difficult times on the AIM market at the moment but there should be news on some of my shares in the next week!

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