From last RNS7 Apr 2012 13:33
The Board believes that value can be generated for shareholders through the implementation of the Company's investing policy through investments or acquisitions, or a combination of both. Such an acquisition or investment may be deemed to be a reverse takeover transaction of the Company under the AIM Rules and would therefore be subject to shareholders' approval.
We are currently considering a number of potential opportunities within the natural resources sector although our discussions remain at an early stage. We recognise that the Company has limited cash resources but believe they are sufficient for us to implement the initial stages of the Company's investing policy and, in the meantime, we are maintaining tight control over costs.
I look forward to updating shareholders as we progress our discussions and am confident that we can implement our investing policy for the benefit of the Company and its shareholders.
Alex Borrelli
Chairman
28 March 2012