End of week round up

Some good bits this week with Red Rock Resources making a bit of a recovery and finishing above 7p. They have had a report on them by Edison group which is very positive and I am looking forward to Red Rock making good progress by the end of the year. This is one of my top slice shares.


Tristar Resources are also making some progress and are doing a joint venture to build an antimony processing plant.They wouldn't do that unless they had lots of antimony to process so again another one of my topslice shares.

Victoria oil and gas did a draw down of 600k GBP and as yet no-one is clear what it is for. However, the sp dropped a little but as each day passes we are getting closer to gas being delivered and revenues being generated.

Yesterday Greencore Group issued an RNS stating they had agreement to purchase UNIQ and this should happen by end of September. Slight concern for me is that I will be on holiday when the rights issue is carried out and I don't want to miss getting my shares and getting some more as well. I expect the sp to drop and then recover over the next few months.

My pf is still all red but I do see a few glimmers and it would be nice to see some blue by the end of August.

Tristar Resources TSTR

A new RNS today where they have entered into a Memorandum of Understanding(MOU) to create a joint venture antimony processing plant capable of prducing 20000 tonnes of antimony pa, that's $320M pa!!!! OK there will be some dilution to fund the project but in the longer term this is a good move.

By contrast Edenville Energy is going from bad to worse and although theey have started drilling thee sp was down to 0.45/0.46p this morning and it was the top traded share yesterday and today. It seems that there are rather a lot of shares in issue and many of them are warrants of 0.02p each! If I am to make a profit here I am going to have to wait a long time. I should stick to my maxim of never going back to a share after I have sold out of it!

Porta Communications have changed some board members and news of an acquisition is expected by end of year now!! This did not do much for the sp and again this is looking more and more like a long term bet!

Same old, same old!!

I am having a weeks holiday at the moment but nothing much is happening. AIM seems to be following market forces, situation in USA, problems with the Euro and my shares are moving up and down like a cork bobbing in the water. I have just re-done my sell orders for the end of September and I am not very confident that any of them will sell.

GNC look promising with the takeover of UNIQ, VOG has had to buy out one of its partners in Cameroon and nothing is happening with PTCM. TSTR seem to be gaining a little momentum but nothing startling.Perhaps I will have to wait until after the summer for my shares to pick up!

Greencore Group

Big news today, first interim results which showed good sales and profits! Then takeover news of UNIQ and as a result the sp of UNIQ shares went up 22% and Greencore went down 11%!  Acquisition to be funded through a fully underwritten 5 for 6 rights issue at €0.46 per share to raise approximately €80.2 million, and a new debt facility. The Prospectus will be posted to Greencore Shareholders on or about 15 July 2011. Its all shaping up to be rather interesting!

Red Rock Resources

I received 2 RNS for Red Rock, one last night and one this morning. The first was about Columbia and Greenland where last month they sold about $400000 of gold in Columbia and how they are getting on exploring for iron ore in Greenland. This morning's was about the Migori mine in Kenya and how their drilling and surveying of the site is progressing. I feel that this company is getting things together and shortly will have improved sufficiently for the sp to be in double figures. They give regular feedback so even if the progress is not fantastic, at least you know what is happening. Keep it up Andrew Bell!

Massive News Today!!

After 2 days where my internet connection has been down(Thanks SFR!!!), I find that Red Rock Resources has been doing well and the sp passed 8p before closing at 7.75p yesterday. Then today I have 3 RNS, from Edenville Energy, Victoria Oil and Gas and Pinnacle Telecom.

I read the Pinnacle Telecom on first, and they have acquired a new business which provides IP CCTV services. Although not a big acquisition, it is another set along the road to developing the company. So well done Alan Bonner!

The second and the best was from Victoria Oil and Gas, where they gave an update on the West Medvezhye site in Siberia. Here they are convinced that passive seismic surveys have found 400million barrels of oil and drilling commences in Q4 next year.


Finally, Edenville Energy issued a holdings notice, where Gradinex had reduced their holdings in the company, not good!

It will be interesting to see what the day brings on the market today!