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.

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.

Tristar Resources TSTR

Well no RNS this morning but despite a quiet market, TSTR is continuing to make ground. It is likely that we could have an RNS next week with the results of the drilling. There has been a lot of speculation because China is the main supplier of Antimony and it is restricting supply and putting the price up. So if the results are good then TSTR will have an valuable asset. Also the sp should rise.
Funnily enough despite me giving up on IMIC, the sp has recovered a little. I have set a limit sell order for my shares so we will see.
Victoria Oil and Gas VOG are still waiting for the licence and Jonathan Scott Barrett is out in Cameroon trying to speed it on its way. Lots of investors are getting nervous from waiting for the RNS but patience is the name of the game!

Do NOT invest in International Mining and Infrastructure PLC (IMIC)

Foolishly I bought some shares in this company the other day.Then suddenly the sp started to drop and continued dropping. I bought at 0.69p and today the sp is 0.42p!!
Last Friday I rang the company to find out what news there was and asked too speak to Mr Haresh Kanabar, the Chairman. He was not there so I spoke to Mr Lakhani the Financial Director. I asked about business news but he was unable to tell me anything other than that a 6 month interim statement was due soon. He said he would pass my views onto Mr Kanabar.
I checked on a few bulletin boards and found nothing useful so all day yesterday and all day today I have been ringing them but the phone is permanently engaged!! Its as though its been disconnected.
I checked the Stock Exchange site and logged onto their website but it is for the previous company and not for  International Mining and Infrastructure PLC. There is no address, email, contact us details - nothing.
Fortuneately I am not heavily invested so I suppose I will have to write it off to experience. Very irritating though. Moral being Research before investing!!!