Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
The workover resumption could be in late Nov/early December as stated by the company: USOP Video interview by III - 16 Nov 12 http://www.proactiveinvestors.co.uk/companies/stocktube/1446/us-oil-gas-ceo-remains-confi (VIDEO LINK) http://www.iii.co.uk/investment/detail?code=cotn%3APLU%3AUSOP&display=discussion&action=detail&id=10191750 (VIDEO TEXT LINK) • We are focusing on returning to site this month, November. We don't see any problems with pursuing a November/early December work programme. Just to balance expectation
sp holding up well though ;0) good posts SS & Sence. i still think this is one of the most under-rated/overlooked stocks around and has the ability to stun the market with the right newsflow. incredible potential.
• CICH was renamed Warrior Advance Minerals Ltd. Warrior Advance Pty Ltd. engages in mineral mining. The company was incorporated in 2009 and is based in Australia. Warrior Advance Pty Ltd. operates as a subsidiary of Dragon Mountain Gold Ltd. • DGM owns 83.6% of Warrior Advance Ltd(Canada). • Warrior owns 100% of Long Province Resources Limited • CIC Hightime Resources Ltd renamed Long Province Resources Limited • Long Province Resources Limited own 90% of the Long Jin Joint Venture and 87% (earning up to 90%) of the Long Ao Joint Venture in the Gansu province in central west China. So when reading the Hightime court case below regarding the 9m shares remember that CICH was renamed Warrior Advance Minerals Ltd (and 9m shares of CICH were given to Stuart Bromley as a result, who then put them into CIC) and DGM now owns 83.6% of Warrior Advance Ltd. -------------------------------------------------------------------------------- Hightime Investment Property Ltd. v. Bromley, 2008 BCSC 1353 http://bcjustice.com/index.php?option=com_content&view=article&id=7046:hightime-investment-property-ltd-v-bromley-application-by-the-defendant-o-set-aside-a-judgment-granting-the-plaintiff-rescission-of-a-share-transfer-agreement-and-for-damages-&catid=392:nat-res-08&Itemid=1418 THE ALLEGATION: [23] To summarize, this action by Hightime is a claim that Mr. Bromley made certain misrepresentations. The key allegation is that Hightime reasonably relied on Mr. Bromley’s false representations and was induced to transfer 9,000,000 shares of CICH to Mr. Bromley’s nominee, CIC. THE DECISION: Stuart Bromley was allowed to keep the 9m shares as "CIC was a separate entity from Mr. Bromley"
References for previous post: -------------------------------------------------------------------------------- (1) Hightime Investment Property Ltd. v. Bromley, 2008 BCSC 1353 http://bcjustice.com/index.php?option=com_content&view=article&id=7046:hightime-investment-property-ltd-v-bromley-application-by-the-defendant-o-set-aside-a-judgment-granting-the-plaintiff-rescission-of-a-share-transfer-agreement-and-for-damages-&catid=392:nat-res-08&Itemid=1418 THE ALLEGATION: [23] To summarize, this action by Hightime is a claim that Mr. Bromley made certain misrepresentations. The key allegation is that Hightime reasonably relied on Mr. Bromley’s false representations and was induced to transfer 9,000,000 shares of CICH to Mr. Bromley’s nominee, CIC. THE DECISION: Stuart Bromley was allowed to keep the 9m shares as "CIC was a separate entity from Mr. Bromley" -------------------------------------------------------------------------------- (2) 07 Nov 2011 DMG sell Lixian Gold Project in China http://www.dragonmountain.com.au/dragonmountain/Documents/Announcements/111107%20Sale%20of%20Assets%20in%20China.pdf Dragon Mountain Gold Limited (“DMG” or “the Company”) is pleased to announce that it’s majority owned subsidiary, Warrior Advance Pty Ltd (“Warrior”) has entered into a conditional agreement to sell 100% of the issued shares in its subsidiary that holds the Lixian Gold Project in China to ZiJin Mining Group Co Ltd (“Zijin”) for consideration of AUD $175,000,000 (“Transaction”). It is expected that DMG’s share of the consideration will be approximately $150,000,000. -------------------------------------------------------------------------------- (3) DMG TRADING EX-DIVIDEND 9 July 2012 http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01312640 At a general meeting of members of Dragon Mountain Gold Limited (“DMG” or the “Company”) held on 5 July 2012, shareholders voted unanimously to approve reduction of its issued capital by approximately $150,000,000 by way of an equal capital reduction, which is to be effected by the Company making a payment to all holders of Shares on record date of: (a) an unfranked ‘special’ dividend of $0.4497; and (b) a return of capital of $0.1195, DMG shares traded ‘ex-dividend’ at the open of trade this morning, 9 July 2012. The record date is 13 July 2012. The capital and dividend payment date is scheduled for 20 July 2012 with cheque payments scheduled to be lodged with Australia Post on this date. --------------------------------------------------------------------------------
CICR mkt cap £2.97m at 1.95p mid (152,451,777 shares in Issue). CICR own 9m shares in Australian listed Dragon Mountain Gold (DMG)....(1) DMG sold the Lixian Gold Project in China to ZiJin Mining Group Co Ltd (“Zijin”) on 07 Nov 2011 for consideration of AUD $175,000,000 (“Transaction”). It is expected that DMG’s share of the consideration will be approximately $150,000,000.(2) DMG are returning AUD$150m to shareholders on 20 Jul 12 via both dividends and a return of capital.(3) So, of the AUS$150m being returned to shareholders on 20 Jul 12,,CICR will get 9m shares of AUS$0.4497/share (dividend) and 9m at AUS$0.1195/share by way of return of capital. • AUS$4.0473m (£2.68m or 1.76p/share) via dividends • AUS$1.0755m (£0.71m or 0.47p/share) via return of capital • TOTAL= AUS$5.1228m (£3.39m or 2.23p/share). This approx. £3.39m payment,due on 20 Jul 12, is worth approx. 2.23p/share to CICR.
things starting to look up again.
CICR floated in 2010 at 3p/£4.5m with just one assset - 48% of SL Minerals. It is now 3p/£4.5m with a whole host of other valuable aasets in the right sectors, the right places at the right time. All these assets below are currently priced at ZERO at 3p, ie at 3p they are completely FREE. How much are they worth now after acquiring the following collection of gold,diamond,iron ore and energy assets? Remember, at 3p not one single item below has been priced in...not one ! • CICR own own 14.19% of the Shangba Goldmine in China with: - GOLD HEAP LEACHING ALREADY BEGUN IN MAY 2012...NOW!....FOR 30K-50K GOLD/YEAR ! - ACTUAL GOLD PRODUCTION BEGINNING IN CHINA soon! - Shangba IPO in July 12 worth £7.2m or 4.73p/share! - Vatukoula Gold Mines (VGM)currently mines around 50k gold/year and is worth £44m! NOTE: CICR own 43% of CICM who own 33% of Shangba Gold mine in China.So CICR own 14.19% of the Shangba gold mine. • The Liba goldmine (which is next to CICR's Shangba mine) was sold to Zirjin in Dec 2011 for $170m (£104.5m)....this was for the structure and NOT the whole company...and that the Shangba gold mine is 4x larger ! • CICR also own 48% of 4 "significant gold concessions" via CIC Congo,on one of Africa's major Gold Belts,located next to the Banro Corporation. Banro Corporation has to date identified 6.72 million ounces of measured and indicated resources, plus inferred resources of 4.46 million ounces. • "a technical team will arrive (at the CIC Congo mine) in May 2012 to establish base camp and other logistics to start the process of future oxide gold mining operations planned for 2013. Initial bulk testing for oxide gold mining has been completed." • 2 IPO's in Jul 12 worth 15.33p/share ! http://www.cicresources.com/transactions_ee.html CIC PRECIOUS METALS IPO (Jul 12)...£7.2m worth 4.73p/share(48% of £15m) CIC ENERGY GROUPIPO (Jul 12).......£16.2m worth 10.6p/share(36% of £45m) • 93.06% of shares are currently NOT in public hands! http://www.cicresources.com/aim26rule.html • CICR are "due up to 6%" of Tianjin Energy when they IPO. Tianjin are a £1 billion turnover Chinese company who also have stakes in 3 large Nigerian oilfields with 125 million barrels of recoverable oil in which CICR's stake would be worth between 2-3%. http://www.tianjinenergy.com/oilandgas/exploration_and_production.html This means that CICR would get "up to 6%" of: ***34% (up to 2.04% to CICR) interest in Asaramatoru Marginal Field (OML 11) with 26 million barrels recoverable oil (Investment of $60m) **** 35% (up to 2.10% to CICR) interest in KE Marginal Field (OML 55)with 26 m illion barrels recoverable oil *** 50% (up to 3.00% to CICR) interest in OPL 240 in Nigeria with 73m barrels recoverable oil (Investment of $200m) • CICR own 33% of Emulsion Fuel Limited, a company which has &q
excellent news. IPO's looking like they are still on for Jul 12,only 6 weeks away http://www.cicresources.com/transactions_ee.html CIC PRECIOUS METALS IPO (Jul 12)...£7.2m worth 4.73p/share(48% of £15m) CIC ENERGY GROUPIPO (Jul 12).......£16.2m worth 10.6p/share(36% of £45m)
CICR own 43% of CICM who own 33% of Shangba Gold mine in China.So CICR own 14.19% of the Shangba gold mine. no more news on the london trip. buyers buying in this week on the expectation of IPO news. If no IPO news the sp could fall back. buyer beware ! gotta go to bed. see you tomorrow. :0)
04 May 2012 "CIC Chairman and CEO completed a London trip this past week. This relates to the planned IPO's."
• CICR own 33% of Emulsion Fuel Limited, a company which has "demonstrated significant fuel cost savings." and who,on 26 Apr 12, said has " recently entered into an agreement with a Chinese shipping group to field test Emulsion fuels in their large container shipping fleet within the next six months for which Emulsion will earn a percentage of the cost of fuel saved using its technology" • CICR Own 9% of Sino Steel Limited, a low grade iron ore company in China. • CICR own £1.2m of shares in Arctic Star Diamond Corp,a Canadian diamond mining company,bought on 13.12.10. How much are they worth now? • CICR has an "MOU with China Railway Materials Commercial Company Limited,a large scale Chinese state-owned corporation specialized in the integrated provision of railway materials and equipment for almost all the major railway construction projects in China." • CICR own 48% of SL Minerals,an early stage private exploration company with mineral rights in Sierra Leone.
CICR...........................01 MAY 12 Shares in Issue................152.45m (152,451,777) Share Price....................1.70p (1.6-1.8p) Mkt Cap........................£2.59m Total debt - 31 Jan 12......£1.4m Shares NOT in public hands.....93.06% (http://www.cicresources.com/aim26rule.html) 2x July IPO's..................15.33p/share • CICR listed in Nov 10 at 3p/£4.5m with just the one asset,48% of SL Minerals,an early stage private exploration company with mineral rights in Sierra Leone. How much are they worth now after acquiring the following collection of gold,diamond,iron ore and energy assets? • CICR own own 14.19% of the Shangba Goldmine in China with: - GOLD HEAP LEACHING BEGINNING MAY 2012...NOW!....FOR 30K-50K GOLD/YEAR ! - ACTUAL GOLD PRODUCTION BEGINNING IN CHINA in 43 days time! - Shangba IPO in July 12 worth £7.2m or 4.73p/share! - Vatukoula Gold Mines (VGM)currently mines around 50k gold/year and is worth £44m! • The Liba goldmine (which is next to CICR's Shangba mine) was sold to Zirjin in Dec 2011 for $170m (£104.5m)....this was for the structure and NOT the whole company...and that the Shangba gold mine is 4x larger ! • CICR also own 48% of 4 "significant gold concessions" via CIC Congo,on one of Africa's major Gold Belts,located next to the Banro Corporation. Banro Corporation has to date identified 6.72 million ounces of measured and indicated resources, plus inferred resources of 4.46 million ounces. • "a technical team will arrive (at the CIC Congo mine) in May 2012 to establish base camp and other logistics to start the process of future oxide gold mining operations planned for 2013. Initial bulk testing for oxide gold mining has been completed." • 2 IPO's in Jul 12 worth 15.33p/share ! http://www.cicresources.com/transactions_ee.html CIC PRECIOUS METALS IPO (Jul 12)...£7.2m worth 4.73p/share(48% of £15m) CIC ENERGY GROUPIPO (Jul 12).......£16.2m worth 10.6p/share(36% of £45m) • 93.06% of shares are currently NOT in public hands! http://www.cicresources.com/aim26rule.html • CICR are "due up to 6%" of Tianjin Energy when they IPO. Tianjin are a £1 billion turnover Chinese company who also have stakes in 3 large Nigerian oilfields with 125 million barrels of recoverable oil in which CICR's stake would be worth between 2-3%. http://www.tianjinenergy.com/oilandgas/exploration_and_production.html This means that CICR would get "up to 6%" of: ***34% (up to 2.04% to CICR) interest in Asaramatoru Marginal Field (OML 11) with 26 million barrels recoverable oil (Investment of $60m) **** 35% (up to 2.10% to CICR) interest in KE Marginal Field (OML 55)with 26 m illion barrels recoverable oil *** 50% (up to 3.00% to CICR) interest in OPL 240 in Nigeria with 73m barrels recoverable oil (Investment of $200m) • CICR own 33% of Emulsion
Here is the bit that everyone has missed and another reason i have been buying recently. --------------------------------------------------------------------- Trading Update 11 Apr 12 http://www.investegate.co.uk/Article.aspx?id=201204111202071271B Tianjin Energy Group Limited ("Tianjin") Under the terms of its advisory agreement CIC is due to be issued with up to 6% of the enlarged equity of Tianjin on its IPO. Tianjin, an oil import/export company had turnover in 2011 of RMB 11.2billion and profits of approximately RMB260m. The company has recently been awarded oil port terminal and bunkering rights in China which the Directors believe to be the only private enterprise in China to be granted an oil terminal licence. CIC is providing restructuring and capital raising strategies to allow Tianjin to list on a prescribed exchange to raise the capital for the building of oil terminal and bunkering at which point it will have earned its Interest. ------------------------------------------------------------------------------------- There are 2 things that everyone missed from this: 1.....Nobody bothered converted the Chinese RMB to GBP ! CICR are due "up to 6%" of Tianjin Energy, who had "turnover in 2011 of RMB 11.2billion (£1.1 billion) and profits of approximately RMB260m (£25.4m)." 2....Nobody bothered looking at the Tianjin Energy website! Its a huge Chinese company with lots of project areas including Oil & Gas exploration. This means that CICR would get "up to 6%" of 3 Nigerian oilfields with 125m barrels of RECOVERABLE oil !: http://www.tianjinenergy.com/oilandgas/exploration_and_production.html Tianjin Energy Resources Limited owns: 34% (up to 2.04% to CICR) interest in Asaramatoru Marginal Field (OML 11).26m barrels recoverable oil (Investment of $60m) 35% (up to 2.10% to CICR) interest in KE Marginal Field (OML 55). 26m barrels recoverable oil 50% (up to 3.00% to CICR) interest in OPL 240 in Nigeria.73m barrels recoverable oil (Investment of $200m) It works out that CICR's "up to 6%" stake would give them between 2-3% of this total. Use your figures. Doesn't matter what you use. When this large Chinese Resource company IPO's, CICR will own "up to 6%" of it so will own "up to 6%" of a £1 billion turnover company who also own large stakes in 3 Nigerian oilfields with 125 million barrels of recoverable oil .
expected THIS week. can't say "big" as i don't know what it is ! news anyway. still massively overlooked/undervalued.
news expected THIS week.
very fair comments. however, with 93.06% of shares not currently in public hands Its VERY hard to buy stock in any size. So should we get any more news about the imminent Gold production and/or IPO's in Jul 12 (or before) then investors will find it very difficult to buy in. Its because of this, the imminent gold production,IPO's in Jul 12 worth over 15p/share and pretty substantial other assets including another very promising gold mine, 2-3% of a £1 billion turnover Chinese Resource company with stakes in 3 large Nigerian oilfiields with 125m barrels of recoverable oil and potentially massive news in 5 months time with the Emulsion shipping trial results etc,etc...i am happy to buy in while still cheap and wait. I strongly suspect that, very soon, newsflow will start driving these up quite rapidly. Therefore i am very happy to wait as i don't think the wait will be that long.This is in all the right sectors at the right time and the pre-IPO periods for their various investments are about to bear fruit. I respect your views and the fact that you are clearly doing alot of research yourself before making your decision. Its extremely good to see a genuine,balanced view of any investment, especially as i am so enthusiastic about the potential here that i may come across a bit "ramptastic". My aplogies if i come across that way. Its just that i genuinely believe that this could be the share of 2011. Please keep your eye on this in the future as i value your thoroughly researched contributions. Its a breath of fresh air. Cheers, and thanks again, 7B
• CICR own 33% of Emulsion Fuel Limited, a company which has "demonstrated significant fuel cost savings." and who,on 26 Apr 12, said has " recently entered into an agreement with a Chinese shipping group to field test Emulsion fuels in their large container shipping fleet within the next six months for which Emulsion will earn a percentage of the cost of fuel saved using its technology" • CICR Own 9% of Sino Steel Limited, a low grade iron ore company in China. • CICR own £1.2m of shares in Arctic Star Diamond Corp,a Canadian diamond mining company,bought on 13.12.10. How much are they worth now? • CICR has an "MOU with China Railway Materials Commercial Company Limited,a large scale Chinese state-owned corporation specialized in the integrated provision of railway materials and equipment for almost all the major railway construction projects in China." • CICR own 48% of SL Minerals,an early stage private exploration company with mineral rights in Sierra Leone.
CICR...........................01 MAY 12 Shares in Issue................152.45m (152,451,777) Share Price....................1.70p (1.6-1.8p) Mkt Cap........................£2.59m Total debt - 31 Jan 12......£1.4m Shares NOT in public hands.....93.06% (http://www.cicresources.com/aim26rule.html) 2x July IPO's..................15.33p/share • CICR listed in Nov 10 at 3p/£4.5m with just the one asset,48% of SL Minerals,an early stage private exploration company with mineral rights in Sierra Leone. . How much are they worth now after acquiring the following collection of gold,diamond,iron ore and energy assets? • CICR own own 14.19% of the Shangba Goldmine in China with: - GOLD HEAP LEACHING BEGINNING MAY 2012...NOW!....FOR 30K-50K GOLD/YEAR ! - ACTUAL GOLD PRODUCTION BEGINNING IN CHINA in 43 days time! - Shangba IPO in July 12 worth £7.2m or 4.73p/share! - Vatukoula Gold Mines (VGM)currently mines around 50k gold/year and is worth £44m! • The Liba goldmine (which is next to CICR's Shangba mine) was sold to Zirjin in Dec 2011 for $170m (£104.5m)....and that the Shangba gold mine is 4x larger ! • CICR also own 48% of 4 "significant gold concessions" via CIC Congo,on one of Africa's major Gold Belts,located next to the Banro Corporation. Banro Corporation has to date identified 6.72 million ounces of measured and indicated resources, plus inferred resources of 4.46 million ounces. • "a technical team will arrive (at the CIC Congo mine) in May 2012 to establish base camp and other logistics to start the process of future oxide gold mining operations planned for 2013. Initial bulk testing for oxide gold mining has been completed." • 2 IPO's in Jul 12 worth 15.33p/share ! http://www.cicresources.com/transactions_ee.html CIC PRECIOUS METALS IPO (Jul 12)...£7.2m worth 4.73p/share(48% of £15m) CIC ENERGY GROUPIPO (Jul 12).......£16.2m worth 10.6p/share(36% of £45m) • 93.06% of shares are currently NOT in public hands! http://www.cicresources.com/aim26rule.html • CICR are "due up to 6%" of Tianjin Energy when they IPO. Tianjin are a £1 billion turnover Chinese company who also have stakes in 3 large Nigerian oilfields with 125 million barrels of recoverable oil in which CICR's stake would be worth between 2-3%. http://www.tianjinenergy.com/oilandgas/exploration_and_production.html This means that CICR would get "up to 6%" of: ***34% (up to 2.04% to CICR) interest in Asaramatoru Marginal Field (OML 11) with 26 million barrels recoverable oil (Investment of $60m) **** 35% (up to 2.10% to CICR) interest in KE Marginal Field (OML 55)with 26 m illion barrels recoverable oil *** 50% (up to 3.00% to CICR) interest in OPL 240 in Nigeria with 73m barrels recoverable oil (Investment of $200m) • CICR own 33% of Emulsion Fuel Limited, a company which has "demons
Here is the bit that everyone has missed and another reason i have been buying recently. --------------------------------------------------------------------- Trading Update 11 Apr 12 http://www.investegate.co.uk/Article.aspx?id=201204111202071271B Tianjin Energy Group Limited ("Tianjin") Under the terms of its advisory agreement CIC is due to be issued with up to 6% of the enlarged equity of Tianjin on its IPO. Tianjin, an oil import/export company had turnover in 2011 of RMB 11.2billion and profits of approximately RMB260m. The company has recently been awarded oil port terminal and bunkering rights in China which the Directors believe to be the only private enterprise in China to be granted an oil terminal licence. CIC is providing restructuring and capital raising strategies to allow Tianjin to list on a prescribed exchange to raise the capital for the building of oil terminal and bunkering at which point it will have earned its Interest. ------------------------------------------------------------------------------------- There are 2 things that everyone missed from this: 1.....Nobody bothered converted the Chinese RMB to GBP ! CICR are due "up to 6%" of Tianjin Energy, who had "turnover in 2011 of RMB 11.2billion (£1.1 billion) and profits of approximately RMB260m (£25.4m)." 2....Nobody bothered looking at the Tianjin Energy website! Its a huge Chinese company with lots of project areas including Oil & Gas exploration. This means that CICR would get "up to 6%" of 3 Nigerian oilfields with 125m barrels of RECOVERABLE oil !: http://www.tianjinenergy.com/oilandgas/exploration_and_production.html Tianjin Energy Resources Limited owns: 34% (up to 2.04% to CICR) interest in Asaramatoru Marginal Field (OML 11).26m barrels recoverable oil (Investment of $60m) 35% (up to 2.10% to CICR) interest in KE Marginal Field (OML 55). 26m barrels recoverable oil 50% (up to 3.00% to CICR) interest in OPL 240 in Nigeria.73m barrels recoverable oil (Investment of $200m) the 6% works out at between 2-3% of these 3 large Nigerian oilfields It works out that CICR's "up to 6%" stake would give them between 2-3% of this total. Even if you value the oil in the ground at $5/barrel this would give around $625m (£385m) at 2.5% thats worth around £9.625m or 6.3p/share to CICR and if one assumes a $75/barrel figure on production then thats equivalent to a total value of $9.375 billion (£5.77 billion) and at around 2.5% thats worth £144m or 92p/share to CICR! Use your figures. Doesn't matter what you use. When this large Chinese Resource company IPO's, CICR will own "up to 6%" of it so will own "up to 6%" of a £1 billion turnover company who also own large stakes in 3 Nigerian oilfields with 125 million barrels of recoverable oil ! .
CICR...........................30 Apr 12 Shares in Issue................152.45m (152,451,777) Share Price....................1.85p (1.7-2p) Mkt Cap........................£2.82m Shares NOT in public hands.....93.06% (http://www.cicresources.com/aim26rule.html) 2x July IPO's..................15.33p/share • GOLD HEAP LEACHING BEGINNING MAY 2012...NEXT WEEK!...FOR 30K-50K GOLD/YEAR ! • ACTUAL GOLD PRODUCTION BEGINNING IN CHINA in 44 days time! • 93.06% OF SHARES NOT IN PUBLIC HANDS ! • Vatukoula Gold Mines (VGM)currently mines around 50k gold/year and is worth £44m! CICR are not looking for it, not getting measured/indicated/inferred etc, not waiting for a bankable feasibilty study prior to production, "heap leaching of oxide gold will commence in May 2012 as planned at the ShangBa mine in Gansu, China" with ACTUAL GOLD PRODUCTION (30K to 50K oz. gold in its first year)IN 44 DAYS TIME...AND IN CHINA ! 2 IPO's in Jul 12 worth 15.33p/share ! http://www.cicresources.com/transactions_ee.html CIC PRECIOUS METALS IPO (Jul 12)...£7.2m worth 4.73p/share(48% of £15m) CIC ENERGY GROUPIPO (Jul 12).......£16.2m worth 10.6p/share(36% of £45m)