The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Holdings in company http://www.investegate.co.uk/Article.aspx?id=20100915101900H4565
I can't answer your question below, but my feeling is that this company has hopefully put the worst behind it now. I think a takeover could be on the cards now. When funds become available I shall be putting some more in here. I'd like to think that any takeover would come in at at least 3p, but more likely over 4p. If there is no takeover, the upside is that they are now funded for the drilling campaign and will be able to pay the fine (which may be reduced). Hopefully in the short term we can work back towards greater production.
Just having a quick read up on Eldorado at work. Mid-size company looking to get into Brazil (have got into Brazil) with Serabi and Brazauro. At first viewing this looks to be fantastic news. Drilling should commence next month (I think). Warrants for 15m shares at 4p. 120m shares issued at 3p. Eldorado would not put up this kind of money for nothing. I can see these at well over 3p by the year end if drill results are good.
Eldorado bought lots of shares for 3p. http://moneyam.uk-wire.com/cgi-bin/articles/20100616070000H4206.html
http://www.investegate.co.uk/Article.aspx?id=20100528070000H9373
http://www.investegate.co.uk/Article.aspx?id=201003080700082007I
http://www.investegate.co.uk/Article.aspx?id=20100128070100H7880