Christmas is coming....!

Several RNS this morning, some more exciting than others so everyone seems to be getting things done ready for next year!
The best RNS in my view was from Greencore Group where they are seeking FTSE listing in Feb/March next year. This will also mean that they will be listed solely in London and in pence. I am a little sad about that as it is my only share currently in Euros! I was in GKN when they got listed on the FTSE and it did wonders for their share price so I hope the same happens with GNC.
The next good RNS was from Victoria Oil and Gas (VOG), who have now started supplying gas to 2 customers! After such a long time of waiting, things are now coming to fruition, so well done Kevin Foo and the team at VOG!
 Then there were 2 RNS from Berkeley Mineral Resources BMR, the first about an options agreement for copper tailings in Chingola and the second about the AGM! I despair of BMR as they are intent on buying more but have no means, other than shareholders, of generating cash. They are supposed to be selling slimes next quarter but I will believe that when I see it!

Red Rock Resources RRR

Red Rock Resources issued a good RNS this morning on its Migori gold project. They have a JORC compliant gold resource of 577000 oz gold which equates roughly to £690M. Yippee I thought o,ly to find that the sp had gone down!!!! How is that possible? It does make you wonder what is going on in the world when you get a great RNS and the sp drops!!

And still it rumbles on!!!

After all the fuss about the Euro conference, nothing much has changed, the markets still don't have much confidence and Christmas is bearing down on us fast.
I had an RNS this morning from Edenville  which was a drilling update that said very little really. They have found more coal but because of delays in analysing samples there won't be a JORC until next year!! The market was unimpressed.

Greencore issued an RNS about Director sharedealing and that was just directors getting bonuses in shares. I can't argue with that and it had no effect on the market, the management are doing a good job and this week is the record date for the dividend!!

No other news except I sold my IMIC shares as it looks to me as they are up to some dubious dealings and lining up for dilution to fund their expansion. Get out now as I can't see the sp going up.

Great News Today!!!

I had 3 RNS this morning, from Greencore, Red Rock and Tristar Resources.

Greencore Group issued their annual results which were good, sales up 8.7%, profit flat and EPS up 20%!! Bearing in mind the costs associated with the Northern Foods merger and the UNIQ takeover. The bottom line for me is that the final dividend is 2.3c which is a good incentive not to sell! 20000 shares were bought in the first 15 mins of trading so I suspect that the market liked the news.

Good news from TSTR with Interim Sampling Results for Stanley Claims Geochemical Programme in Canada. These gave a good indication of antimony plus other minerals like gold and silver. It was not the news I was looking for, the JORC on Goynuk, but it was good news anyway. The market seemed to like the news and the sp was up 0.2p and several million shares had been traded early on.


The final RNS was the gold sales  update from Redrock for its Columbian El Limon mine. These were up 2.3% but no great shakes really. They also said that the results in December would be lower because of the holidays and maintenance. The market wasn't so keen on this and the sp dropped!

Greencore Group GNC

Some disappointing news today, in that, the takeover talks with Greencore have ended. Not too big a surprise given the current state of the global market but disappointing nevertheless. The net result was that the sp fell back to its pre takeover level of €0.63. So now we will be eagerly awaiting the Year End results tomorrow. It will be interesting to see how the dividend structure is sorted out, so long as they keep paying a dividend, I will be quite happy.

More news on the IMIC front, they issued another RNS today regarding their JV partner African Iron Ore Group Limited ("AIOG") who have signed a JV agreement with the government of Guinea for the Simandou iron ore mining project. As a result the sp went up to 0.33p before dropping back. However, given my frustration with them previously, they do seem to be trying to make a go of things.

Weekly Roundup

Despite some interesting RNS this week, nothing much has changed. The global crisis still rumbles on and possibly there may be some positive action next week. Angela Merkel showing some statemanship(!) but David Cameron more like a spoilt child.

Next Tuesday is the Greencore year end results so it will be interesting to see how they go. They ought to be positive but my gut feel is that after all the takeover moves this year, the news might not be quite what the market is looking for.


We are getting very close to gas being supplied by VOG and the sp is holding up reasonably well. I think next year will be the major move in sp but they are showing how to keep investors informed with regular updates and a good website.

 In comparison, BMR and TSTR are not doing a good job at keeping investors informed. It is the BMR AGM on the 16 December and there may be a few angry investors at the meeting. TSTR are getting on with testing and appraising for a JORC but saying little. It is plain to see that interest in both shares has tailed off over the last year with lack of news and in consequence, the sp has dropped.

The biggest surprise of the week was IMIC actual did something about investing in Africa!!! They are studying a joint venture so we will have to see what comes of that.

I have a feeling that there may be a flurry of excitement up to Christmas. If I am right and I get to sell some shares at a profit, I will not be in a hurry to re-invest. Rather I will look carefully and I have decided to always keep cash in my trading account to take advantage of any opportunities that might arise.