Berkeley Mineral Resources BMR

At last this morning we have received an RNS from Berkeley Mineral Resources BMR!! The only question is "Why has it taken so long to reach this decision?" The company needs money to progress and it had a pile of money sitting there for  months and only now have they decided to do anything about it! I feel that the company needs to change its management for someone with more dynamism!!

The Greeks have certainly made life more difficult in the markets and if this is not sorted out before January  15th 2012, all I see is markets drifting down an global meltdown getting closer!!

Big news today!!!

I was pleased to see 2 RNS this morning, 1 from PTCM and the other from Red Rock.
Porta Comms have come out of suspension and started trading again and they are consolidating their shares 100:1 and that is likely to take place on the 8th November! So I currently have 1.6M shares and after consolidation I will have 16k shares. It doesn't make any difference to the value I hold but does make it more attractive to Institutional Investors to invest in the company. They are also raising more money to continue building the company.

Red Rock Resources also issued an update for their Columbian gold mine at El Limon. In the last quarter they made big strides in raising output , quality and sales of gold. So well done RRR.

Also I bought some more Berkeley Mineral Resources shares BMR, as there is a likelihood that they may get some news about the licence for their mine in Zambia. Time will tell but I made a loss when I sold out of them and have now bought more shares for less money so if they were to get back to my original buy in price I would be making lots of money!!!

Berkeley Mineral Resources PLC (BMR)

Berkeley Mineral Resources PLC issued and RNS this morning which was not quite was expected. Basically it said that the Kabwe Due Diligence had been completed and they were moving towards completion of the deal! It also said that BMR are not going to proceed with the acquisition of another business in Zambia which would have advanced their plans by 10 months as it was too expensive.

So they raised money via dilution they didn't need and have put back production by 10 months. The net result was that this morning the sp fell by 7% and dropped below 6p. The sages! on the BBs think that this is just getting bad news out the way before a good RNS next week!!! Perhaps they are right but I would like to get out of this share quickly and put the money back into Viridas.

TOO LATE Viridas up 46% this morning!!