Weekly Roundup!!

I have been away for a few days and wondered what I would come back to? Well, 5 RNS but no major moves!!
Berkeley Mineral Resources produced another of their celebrated RNS saying that they would be extending the time for Due Diligence on Chingola tailings. This had the effect of making the sp go down after some good rises last week!
There were 2 RNS from Edenville Energy, 1 being a holdings RNS and good to see Henderson Global increasing their holdings yet again. The other was a mildly positive update on the drilling season in Tanzania. The overall effect was to move the sp up a little.
The other was an agreement between Redrock and Ariel partners for the Migori gold project. Redrock seem to have lots of convoluted deals but what would be nice is if they actually produced something concrete!
I have dabbled with the idea of getting back into Central Rand Gold but at the moment, the situation in South Africa does not look good for investors. Also, I have thought about Caspian Holdings again but again, the situation in Spain is a little difficult. Not easy this investing business.
Sold my shares in Edenville today for a small profit and bought some more Victoria Oil and Gas! I bought these cheaper than I first bought over 2 years ago!! It would be nice to think that at some point this year they hit double figures!
Also the 6p warrants on Berkeley Mineral Resources expire tomorrow night so it will be interesting top see what happens by close of business tomorrow!

Weekly Roundup

Ok, I am still waiting for Tristar Resources and Berkeley Mineral Resources to do something. I got a bit bored on Friday and sold some TSTR shares for a small profit and then bought some Edenville Energy shares! I may live to regret that but it is frustrating waiting. Considering I lost money on EDL recently, I was pleased to buy back at a lower price than I sold so it is possible to recoup some of my losses.
So the view is that this week TSTR will issue a JORC! If it does then I will have made a mistake because it is likely that the sp will be around 1.5p! However, if EDL goes up on Monday I will sell and buy back into TSTR!
BMR continues to promise lots and deliver nothing! Unless they get a grip and start selling something I don't see any likelihood of the sp rising.
There was a little bit of movement on Redrock and Frontera Resources this week but a long way to go before I am in profit.
Victoria Oil and Gas is still meandering on and if I can sell any of my shares at profit then I am going to put the money into VOG and GNC for the summer!
ALR have their AGM soon but I amm not expecting anything to happen with them for a while. Also there seems to be more concern over the Euro and American jobs so all in all, things are not looking ever so bright!

Edenville Energy EDL

Edenville Energy EDL issued an RNS today that was staggering! They are raising more money for drilling by issuing 1 billion shares at 0.25p each!! They will then have 4.4 billion shares in issue. I sold mine at a £2000 loss and put the money straight into BMR in the hope that I might recoup my money there!
BMR are rising steadily and I am now in profit and if the Zambian Government lifts its mining moratorium today we could see an RNS soon that will lift the sp more! 

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.

Weekly Roundup

It has been a tumultuous week on the world markets this week with the on-off Greek referendum and the FTSE closed down on Friday night. However, on Friday night all my shares except 1 finished blue!!

The great news was the big improvement in Greencore Group sp which finished at €0.79 which now puts me in profit. I hope the momentum continues next week and that we get some news of the proposed takeover soon. The following is an interesting link  but it not suggesting anything new.

Finally Victoria Oil and Gas is on the move northwards and hopefully for good! The sp closed up at 4.31p on Friday as the days are running out before the first gas is supplied to real customers, who then start paying!!! The VOG website was updated and showed the latest progress   and I envisage that gas will start flowing in December ie in about 4 weeks time VOG will be a supplier rather than an explorer!

Next week is the AGM and consolidation of Porta Communications shares. The likelihood is that some new acquisitions will be announced and it would be nice to think the sp goes up but my experience is that when consolidation takes place the sp drops. I still need the sp to reach 22p from its consolidated level of 11p to breakeven so I will be waiting a lot longer.

Red Rock Resources started  little rise on Friday and finished at 5.15p but if we get a good Columbia update next week then we should see the sp continue further north. The companies that RRR have an interest in Jupiter Mining, Ascot Mining and Regency Mines were all up this week so it is beginning to look more hopeful.

Edenville Energy issued an RNS giving an operational update and broadly are aiming to produce a JORC before the end of December! Net result: sp went up a little!

As we get into the more dynamic time of the trading year, I am looking to see more rises and that I can sell some shares and make some money!!!

Volatile market!!

Its been a grim week on the markets and as a result it has been very volatile, down on Tuesday and up on Wednesday!! My pf is looking pretty grim despite some good RNS from Edenville and Pinnacle but I am still 30% down and waiting for one or more of my shares to BOOM!!
It is the presidential elections in Cameroon on Sunday 9 October so with any luck VOG might improve after the elections are finished. I don't think the outcome will have any impact on VOG but it will remove some uncertainty in the minds of investors.
I am waiting to see my dividend from GNC hitting my account any day soon and looking forward to the next divi as I will have considerably more shares!
PTCM is still suspended and it will be interesting to see what the sp is after they start trading again. I would be happy if they were trading in the 0.20's  and there is some talk of consolidation of share value, possibly 100 or 50 times! We will have to see.

Edenville Energy EDL

Edenville Energy issued their interim results RNS today and these had some promise for the future.The company is funded to produce a maiden JORC but it seems to me that after that they would be looking to sell the company. If you read between the lines it seems likely that they are working towards confirming a resource and then selling the company.

The other day I found I had 100GBP in my trading account so I bought some Red Leopard Holdings RLH shares. I can't see these setting the world alight but if I make a small profit eventually I will be please, on the other hand it is not a big investment if it fails!

Not long to go now before TSTR results and yesterday the sp moved up to 0.85p. Unfortunately the sp dropped a little this morning but in just over a week we should have a clearer picture. I have about 360k shares and am looking to sell these at over 1.2p. There is no reason why this shouldn't happen but the USA didn't help general conditions by announcing its $400Bn stimulation package!!

Victoria Oil and Gas VOG

A little bit of movement today so I sold some of the shares I bought last week for a small profit. I have put a buy order in to replace them at 3.65p but we will have to see if that gets triggered. One thing that I have noticed is that since I haven't been trading very much, my rate with TD Waterhouse has gone back up to 12.5GBP rather than 8.95GBP which it has been for 6 months.So, my desire to trade is driven also by what it is costing me, I have to do 15 trades a quarter to get the 8.95 rate!

I am very tempted to buy some Fyffes FFY shares tomorrow as their interims are on Monday! I don't suppose I will but if I don't then they are bound to have good results and the sp will rise! Another company that I am following is Goldplat GDP and I see them rising in the next couple of months but I need some dosh to buy them at 12p a share. Good to see Edenville starting to move slowly upwards. I have a sell order in for 1.02p so I may get lucky in a few weeks!

Edenville Energy EDL

Well, at last we have some news with an RNS this morning showing that EDL have found coal of reasonable quality but more importantly, they have discovered coal to the north of previous known coal deposits. It will be interesting to see what happens to the sp this week. Even though the market is very bad at the moment, I wonder will there be any upward movement? Certainly the sp is pretty dire at the moment, having dropped from the last placing price of 1.85p to currently stand at 0.35p!

Great little video interview with Kevin Foo, CEO of VOG and certainly maintains confidence in the company. I still see this as a company with an sp capability if double figures and have recently almost doubled my holding.

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!

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!

Edenville Energy EDL

Well I didn't re-buy ant BMR shares even though they were down to 4.05p! Instead I bought more Edenville Energy shares at 0.648p and today they closed at 0.75p so already I am getting some of the money I most on BMR back! It was interesting also that someone took out a spread bet for 1M GBP on Edenville, presumably that the price will rise. My original purchase was at 1.74p so if the sp gets back there then I will be nearly tripling my investment. If the sp gets above 0.92p then I will be breaking even. As the sp has been over 2p before then it seems a reasonable target.

I also had an RNS from Redrock today saying that Andrew Bell and another director had sold some shares, always a bad sign but later in the day an email popped up explaining the situation.

Dear Shareholders and Colleagues,

You may have seen that I and a colleague sold a few Red Rock shares this week.

Those of you who have been shareholders for a while will know that each time we exercise options, we also shortly after tend to sell a few to meet the immediate tax bill. In recent years, the tax regime on options has become quite unfavourable, and we have to pay income tax and NI on the difference between the exercise price and the market price, and do it promptly.

We do try to explain, and then the next time it happens, there are again some shareholders who worry that we are showing a lack of confidence in the company and sending a bad signal to the market.

So, for the avoidance of doubt, let me clarify that if and when I am in a position to sell options in the future, it is highly probable that I will again be obliged to sell some to meet tax obligations. I will not enjoy doing it, and this will say nothing about my view on the stock price.

The options we exercised in May expired at the end of May, so had to be exercised or lost. My colleague and I are selling about half of those we recently acquired, so that our shareholdings at the end of June are higher, not lower, than our shareholdings at the beginning of May. This has also been the case with past sales following exercise of options: each time the holding of shares at the end of the exercise is higher than it was before.

There is never a ‘right time’ for directors to sell, and I do assure you of our complete commitment to and confidence in the company.

Andrew 

So  it seemed a reasonable explanation and the sp closed up on the day so all's well that ends well!

Berkeley Mineral Resources BMR

Ok, so it is a really bad day on the markets and BMR is down. Tomorrow 145M new shares will be released onto the market so I decided to sell my BMR shares and try a short on BMR for today and then close the short tomorrow and buy some more BMR shares cheaper. Unfortunately, TD Waterhouse don't do short selling so I have sold my BMR shares at a loss and now hope that I can buy them back tomorrow at about 3.9p so that I end up with more shares! Will it work, I don't know but I feel it is worth a try!

I have had some more RNS today, I from BMR saying they know of no reason for the sp to drop! Perhaps they aren't aware of the effect of dilution on share price!

The second, I didn't actually receive but found on the LSE BB, and this was the 6 months results for PINN which were very good. Sales up, profit up but the sp didn't do anything much:(

Then one from Red Rock saying that Jupiter Mines had started a feasability study and also saying that their issue of equity will take place on 30th not 29th of June.

Finally, I had 1 from EDL saying that Nomura International had increased their stake in the company.

So all in all, a lot going on when there was chaos in the market. In fact I am thinking of staying out of BMR all together as I have lost confidence in the company.

Victoria Oil and Gas (VOG)

Despite the market being in chaos, Victoria Oil and Gas is doing OK. Since yesterday the sp has been blue whilst many other shares are red! OK its not setting the world alight but it is holding up well.

At the weekend, a poster posted an alleged email from Masoud Alikhani; the main man at BMR, suggesting that the Kabwe deal was done and an RNS would be issued shortly. Whether it was real or not I don't know but in light of that you would expect the sp to rise, more volume etc. Instead the sp has fallen and currently stands at 5.49p so it is not doing well.

Things are not going well at Edenville Energy EDL where the sp has dropped substantially and is currently 0.7p. I bought at 1.75p and the fundamentals have not changed but the sp is doing badly. Yesterday they issued an RNS saying Gradinex had sold some of their holding and crossed the 10% barrier and today they issued an RNS saying that Barnard Nominees had increased their holding to 13.74%!! So funny old times

Recovery day today!

No RNS from BMR this morning but a little bit of blue from VOG and PTCM and then just now an RNS from Edenville Energy saying that UBS had bought 228M shares, 6% of the company. That is a bit of positive news and hopefully we will see the sp rise back over 1p soon.
Nice to see Porta Communications rise by 11%  and it would be nice to see them put out a positive RNS and go back up to 0.3p. We will have to see!

Edenville Energy! EDL

Edenville Energy issued an RNS today with their Final Results. These were interesting because they appear to have sufficient funding to carry out drilling for a JORC compliant resource, they have 6 mining licences and thermal quality coal,so things are looking promising. The news was greeted by an improvement in the sp.

Still now news from BMR so we will have to wait until next week before the much heralded announcement of the Kabwe acquisition is published!

Edenville Energy! EDL

Edenville Energy issued an update RNS this morning stating that they are fully funded and ready to start drilling in 6 weeks time! Good news as people have become a little nervous and the sp has fallen from 1.75p which I bought at to 1.05p last week The sp has started to move up a little now and the share is being ramped across LSE boards.

Following my post about GNC last week the sp has been rising this morning so hopefully it will continue to rise as the interim results are next Tuesday! I could do with a little success as I still haven't sold anything for over 6 weeks!!!

The markets are very depressed today because of the situation in Greece and its possible renegotiation ofits debts, plus the  arrest of D Strauss-Kahn in New York on rape charges has had an effect on the Euro. Makes people more risk averse.

Asia Digital Holdings PLC (ADH)

Well I couldn't contain myself yesterday and sold my Asia Digital Holdings PLC (ADH) shares for 33% profit and then sold some of my Orogen Gold ORE shares as well. I should be more patient but... Today Asia Digital Holdings PLC (ADH) went up to just over 1p so if I had held on I would have made more but I am happy with my profit and I have re-invested the money.
 Yesterday I topped up my ValiRx plc (VAL) shares so I now have 100k shares and today I reinvested in  Edenville Energy EDL as they had some news out about acquiring some more coalfields in Tanzania. I put a limit order in for 1.85p to make a quick day trade but I think it is unlikely the sp will get there today. I was hoping for my first day trade but it is not to be!!

Learning how to trade!

Yesterday morning I went out and all my shares were quiet. When I came back a litlle later EDL had gone bonkers and had gone from 0.85p to 1.2p. I thought that this was good as I was well in profit and hoped that it would continue. At the end of the day EDL was the most traded share, with over 180M shares traded. The final closing price was 1.03p. Ok I was in profit but it occurred to me that what I should have done was to sell at 1.2p and buy back at 1.03p thereby increasing my holding as I have no spare cash at the moment. Of course if I had sold and it continued to go up I might have looked silly but I would have made a profit. With this in mind, I thought that the sp might move again today so I made a limit sell order for 1.35p. That would give me 33% profit and I might be able to buy back on a retrace. Well the sp got to 1.2 but not the 1.35p I wanted and there was virtually no retrace! The sell order was only for 1 day so tomorrow I am going to make another order for 1.4p. I think that I will keep increasing it until it sells and then to try to buy back in on a retrace. If it doesn't sell, its not a problem. If it does then I make more money. I'll try it and watch the results.
Greencore issued an RNS today saying that they had bought a sandwich business in the US so they seem keen on expanding. I hope it is reflected in the sp!

Quiet week!!

It was a fairly boring week as not much happened. WEST had their results, which were not great but reasonable given the circumstamces and the sp fell. There continued to be loads of RNS(Regulatory News Service) for Greencore. Friday was the Record Day for divi, so sp went up to €1.47. I wonder what will happen on Monday? Will it continue to rise or will it suffer a retracement? There was a little bit of excitement for EDL but not much movement of the sp. TNG Tangent Communications had 2 managers sell about 22M shares but agin not much movement in sp.VOG's AGM came and went and still no news of the licence so the sp is still range bound around 5.25p.VOG did have a meeting with several PIs(Private Investors) from the LSE and iii boards. I have read a brief report and it seems very encouraging, we just need the licence. I have not renewed my sell order and my bank have suggested that I ring the telephone trading line. I will try that next week to check that I can sell online when the time is right.
Now that I am in profit withVOG, I am tempted to just let it run as it is possible that the sp could continue to move up throughout next year. However, there is a rumour that the French government is going to abolish the tax free elemenmt of share dealing in 2011. So if I sell by the end of this year, I won't have to pay tax on my gains next year and I will be able to use the bulk of my investment to trade other shares. Roll on the licence!!!