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[SML] Extract from Interim Report inter alia "....Strategic Minerals PLC has also been buffeted by iron ore price volatility but we believe it has the potential to generate healthy cash flows in the current market environment, and that 2013 will be a positive year for the company..." Extracted from: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11473666 The company's share price is languishing after a heavy sell-off last summer when the market for iron ore entered meltdown mode. But iron ore prices have since rebounded to 12-month highs while shares of Strategic continue to wallow - despite the company recently entering production - suggesting plenty of scope for recovery and growth. Strategic's shares currently trade at a 56 per cent discount to house broker Daniel Stewart's 12p estimate of fair value, which is based on a discounted cash flow model. That said, the discount is partially warranted given how the Cobre stockpile is only expected to last about three years. But with management on the hunt for similar acquisitions, and the market much more focused on near-term results, we don't see this as a significant problem. Besides, we're only recommending this as a short-term buy - as little as three to 12 months. We expect the discount to NAV to shrink as iron ore producers rebound and cash from the Cobre operation really starts to flood in. The recent resurgence in the iron ore market has created an opportunity for nimble investors willing to take a risk on an unproven miner. Not only can emerging producers drive earnings growth without relying on higher commodity prices, but in Strategic's case, the company stands to benefit from mining a high-grade, low-cost deposit in a safe jurisdiction. We feel the current share price represents a good entry level given how the shares trade on just 3.5 times forecast forward earnings - roughly the same level as when we first tipped shares of Central Asia Metals. http://strategicminerals.net/

[SML] Has an iron ore project that's just what a miner needs for these troubled times - a 'plain vanilla' operation that will quickly generate revenues and won't be greedy for hard-to-find capital. And share price performance could soon be kick-started by the recent rebound of the iron ore market. [SML]'s plan is mining waste rock - rock previously deemed uneconomic to sell or process because of lower commodity prices. In Strategic's case, the company has secured exclusive rights to a stockpile of high-grade, fully processed magnetite iron ore accumulated as a by product of copper mining at Freeport-McMoRan's Cobre mine in New Mexico. The iron ore stockpile comes with an internationally compliant resource statement - 1.57m tonnes grading 62 per cent iron - and is "delivery-ready", meaning all Strategic has to do is transport the ore into shipping containers and bring it to port. To that end, the company finished refurbishing a short rail link in the summer and has signed up commodity trader Glencore (GLEN) as an 'offtake' partner.

[DRG] Interim Results for 6 months period to October 31st 2012 Chairman's Statement During the period under review net assets have fallen from 0.67 pence per share to 0.50 pence per share. This decline primarily reflects the continued decline in the share prices of URU Metals Limited, Motive Television PLC, and Royal Resources Limited (ASX). Portfolio liquidity has reduced as a result but remains healthy. Trading activity has been very light but was characterised by the sale of shares in Sirius Minerals PLC, two-way trade in URU, and the purchase of shares in Strategic Minerals PLC. The core quoted portfolio during the period under review consisted of Immedia Group PLC, URU Metals Limited, Motive Television PLC, Royal Resources Limited (ASX), and Strategic Minerals PLC. We have previously alluded to our enthusiasm regarding our shareholding in Royal Resources. During the course of 2012 Royal Resources announced a sequence of upgrades to its magnetite resource base, confirming the potential previously highlighted by that company's management and exceeding our own expectations. In addition the resources company progressed towards finalisation of its pre-feasibility report for a 10 million tonne per annum concentrate operation. Despite these extremely positive developments the share price declined markedly during the period under review, and has continued to slide since the period end. We can only surmise that the delays to the pre-feasibility work frustrated the predominantly domestic retail shareholder base of the company, resulting in selling activity. Equally, the dramatic fall in iron ore prices had a significant impact on sentiment towards such projects, particularly in the Australian market place, and we note that since the period end, the share price has not recovered to reflect stronger iron ore prices. Meanwhile, we remain of the view that the resources company's market capitalisation is consistent with assets a fraction of its size, and look forward to concrete news on project funding in due course. Strategic Minerals PLC has also been buffeted by iron ore price volatility but we believe it has the potential to generate healthy cash flows in the current market environment, and that 2013 will be a positive year for the company. We would refer investors to the Strategic Minerals website for further information. Elsewhere among the quoted shareholdings, we are disappointed by MTV's share price performance and hope the company can unlock its various commercial opportunities in 2013. We also note that URU's South African nickel project is in deadlock and hope that matters can be progressed during this year, to allow the exploitation of the project's undoubted potential. Meanwhile, URU maintains a healthy balance sheet. Our core unquoted shareholding, Atlantic Healthcare, is making good progress on a number of fronts, including patient treatment across Europe via the company's Named Patient Sales (NPS) programme, and continues to work towards the establishment of out-licensing agreements for the USA. We hope to be able to update shareholders on progress in due course.

[DRG] Now Invested in [SML] http://strategicminerals.net/

[ITM] Achieves CE certification of the Infintium Fuel Cell System for materials handling vehicles. ITM Power is the exclusive European importer of the Infintium system and can now offer customers an integrated fuel cell and refuelling solution which are both CE marked. A CE mark is a mandatory conformance mark for products placed on the market in the European Economic Area and signifies that a product has met EU consumer safety, health and environmental requirements. In the case of the Infintium Fuel Cell System, CE requires conformance with the Pressure Equipment, EMC and Low Voltage Directives. The compliance process has enabled Infintium to develop productive relationships with numerous notified bodies and accelerate qualification work with multiple materials handling vehicle OEM's. On 22nd June 2012, the Company announced that it had signed an agreement with Infintium Fuel Cell Systems Inc. of Texas ("IFCS") to become its exclusive European distributor of fuel cell systems for materials handling equipment ("the Agreement"). The Agreement facilitates the development of a European customer base in the rapidly expanding materials handling market where traditional battery and engine technology is being replaced by fuel cells powered by hydrogen. Under the Agreement, IFCS committed to gaining, with ITM Power's assistance, CE marking for its systems that can be fitted to all classes of pallet and fork lift trucks as well as airport baggage handling and utility vehicles. Materials handling continues to be a leading market for transport-related fuel cells. Large warehouses have found that fuel cells provide both an attractive alternative to battery-powered vehicles and an effective range extender for batteries. As a battery replacement, fuel cells provide nearly continuous operations (refueling takes less than five minutes), provide a continuous level of power (batteries lose power as charge levels decrease), and eliminate the need for battery changing facilities that use valuable warehouse space. As a range extender, fuel cells help maintain a constant state of charge, thus reducing or eliminating the need for battery recharging or replacement. The result is that the materials handling market provides a clear business case for fuel cell applications. Currently, the United States is by far the world leader in fuel cell-powered forklift deployments, with more than 3,000 fuel cell forklifts either deployed or on order as of the end of 2011. ITM Power can now offer a full turnkey solution to the materials handling sector, including on-site hydrogen generation, refueling and fuel cell systems. The successful trials of the Company's HFuel product platform, together with measured operational benefits of fuel cell powered materials handling vehicles, has seen ITM Power engage with a growing number of potential retail, distribution and logistics customers. The Company can provide a tailored, integrated solution - including modeling, on-site trials, supply of equipment and maintenance contracts. HFuel is capable of generating up to 400kg of hydrogen per day, on-site, from renewable power. In addition to demonstrating HFuel in the Ride and Drive area at the Hannover Messe in April this year, ITM Power will have an extended area for the demonstration of fuel cell powered materials handling equipment where the Infintium fuel cell will be demonstrated to industry experts from around the world. Details of the Hydrogen and Fuel Cells fair can be seen at the following link: http://www.h2fc-fair.com/

[STI] http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11474069

[VMP] on 29 October 2012 to raise £550,000 in two separate subscriptions. The First Subscription raised £211,000 using existing authorities and 211 million new ordinary shares were admitted to AIM. The Second Subscription raising £339,000 was subject, inter alia, to the approval of shareholders and admission of the relevant new ordinary shares to AIM. Shareholders approved the Second Subscription on 15 November and 39 million new ordinary shares, raising a further £39,000 were issued and admitted to AIM on 22 November 2012. The remaining 300 million ordinary shares, which were allotted conditional on admission occurring on or before 7 December 2012, have not been admitted to AIM as payment has not yet been received. Discussions are proceeding between the relevant parties and their advisers.

[DRG] asx [ROY] http://royalresources.com.au/documents/razor%20back%20project%20returns%20a%20positive%20pfs.pdf

[ANGM] ANGEL MINING PLC 03319691 (G2) 07/01/2013 http://www.london-gazette.co.uk/issues/823960/supplements/394 http://www.companyrescue.co.uk/documents/prepack-flowchart.pdf

[ANGM] The directors of the company have the power to appoint an administrator but so to does a floating charge holder, usually the bank or a factoring company. So it's possible that board decides to appoint an Administrator and the bank refuses and appoints its own. Although, if the Insolvency Practitioner is recognized by the bank and there is a quality plan to protect the business then there should not be a problem. This breathing space is for 10 business days. It is possible to apply for an extension for another 10 business days if it looks like a "deal" is imminent although other reasons are of course acceptable . This "deal" usually involves another party that wishes to purchase the business or its assets and a little extra time is needed. However, it will need to be in the interest of creditors for an extension to be granted. Multiple applications to refile and ask for extensions are unlikely to be successful. The ability to stop any legal action, including a winding up petition, is a powerful tool to save the business. The downside is that it is a very public event and this can be damaging to the business. What are the advantages and disadvantages of going into administration. Advantages All legal actions are stayed by the process. It stops the financial position getting worse and putting directors at further risk. It can be very quick and cost effective if an "Administration pre pack" is used properly. All unsecured debt is removed. New managers can be appointed to help the business most usually in the financial management area of the business. Disadvantages The directors are not in control of the business and an offer from a third party may lead to their removal as directors. Tax losses can be lost if no CVA is proposed. Another buyer may buy the assets. It is a public event, all creditors and all correspondence (invoices, advice notes, orders, emails, websites, letters) must say XYZ Co Ltd (In Administration). Most customers and suppliers therefore become very aware of the insolvency. All creditors will be written to and an advert will be placed in the London Gazette. All orders must be ratified by the Administrator or his staff. The directors have no powers to run the company. Bank may appoint their own administrator. Costs are high so most suitable for large companies. TUPE applies to Newco - in other words the new company cannot remove employees and must adopt their contracts. This can be a problem when planning how to cut costs in the new company. Financing trade and other supplies can be difficult unless adequate resources are available and or new funds can be introduced in the administration period. It may be that a company voluntary arrangement or CVA is an appropriate alternative.

[OPE] Wins a contract valued at £3.3 million to supply Stagecoach Group plc [SGC] with a mix of 33 Solo's and Versa's for delivery in 2013. Chris Wise, Commercial Director, commenting on the order said, "This repeat order results from the good reliability, fuel efficiency, and both driver and passenger acceptance of this and its predecessor model in a variety of demanding operating conditions. The Cummins-Voith driveline is new to Optare and is being fitted at the specific request of Stagecoach. It further demonstrates our ability to meet a wide range of specific customer requirements in terms of vehicle drivelines, whether it's, alternative fuels, hybrid, full electric or conventional diesel".

[ECV] Taxi supplier [ECV] sold 561 vehicles in 2012 and the woes of rival cab supplier Manganese Bronze could prove positive for the company. ECV has sold more than 2,000 Vito taxis in total and sales grew by 71% last year. Revenues rose by two-fifths to £31.1m but ECV still made a small loss on continuing activities. Net debt was £800,000 at the end of 2012, following the disposal of a Coventry freehold property for £2m. . At 2.38p a share, up 0.2p, ECV is valued at £11.1m.

[ANGM] A creditor has demanded payment of the money owed by [ANGM], which has forced it to file its intention to appoint an administrator. The creditor had threatened to issue a winding-up petition. Angel has ten days to agree a financial restructuring with its finance providers and creditors. If it does not succeed then the administrator will be appointed. It is just over a fortnight since Angel raised £250,000 at 1p a share from a placing with Yorkville. This went towards repaying $407,500 of the promissory note facility – and related interest - with Yorkville. The promissory note liability remains $712,000. In December, Angel raised £100,000 at 1p a share for the same reason. Last autumn Angel announced that Cyrus Capital had extended its loan by $2m and extended the repayment date to 15 February. The total loan to be repaid is $30.4m plus interest. In return for the extension, Cyrus has been granted an option to acquire 75% of the Angel subsidiary that owns its Greenland mining operations, excluding Nalunaq. The option, which is for £1 plus the write-off of an unspecified portion of money owed to Cyrus, is exercisable if Angel has not repaid at least $3.85m of the loan. Angel had problems with gold plating on the cathodes of the electrolysis unit at the Nalunaq mine at the end of November. These cathodes have been changed. Angel has managed to release 601 ounces of gold from the cathodes to add to the 557 ounces originally produced. The cathodes have been sent to Switzerland so more gold can be extracted. The shares have been suspended at 0.54p, which values Angel at £5.86m. The share price has fallen by 83% over the past year. Net asset value was $11.9m at the end of August 2012.

[NRRP] Appoints Ms Qi Yu as a Non-Executive Director with immediate effect. Qi (pronounced "Chi") is a director of Kalahari Minerals and the CEO of Extract Resources. Kalahari Minerals is the 38 per cent shareholder of North River Resources. She is a Chinese Certified Public Accountant and worked at a senior level in the accounting industry in China for 15 years before relocating to the UK. Qi, who is based in London and speaks fluent English, joined Kalahari Minerals as COO in 2011, immediately following its acquisition. Kalahari Minerals also holds a 43 per cent interest in Extract Resources. Both Kalahari and Extract Resources were previously listed (on AIM and the ASX respectively) and taken private when acquired by Taurus Mineral Limited, which in turn is 50 per cent owned by China Guangdong Nuclear Power Corporation (the largest nuclear power company in China) and 50 per cent owned by the China-Africa Development Fund (China's largest private equity fund focusing on African investments). Extract Resources is focused on developing the Husab open pit uranium mine in Namibia, the world's third largest known primary uranium deposit. North River is focused on the exploration and development of resources in Namibia and Mozambique. Its principal focus is currently the re-opening of the Namib Lead-Zinc mine in Namibia, which is located close to the Husab project. Qi Yu said "I am very pleased to be joining the Board of North River. This represents a good opportunity for us to build a successful business as part of the Kalahari group. We hope 2013 will prove an exciting year for the company." Martin French, Executive Director of North River said "We are delighted to welcome Qi to the board as part of our new programme to strengthen and build the company. We have already built up a good working relationship with Qi during 2012, and this appointment cements that relationship. Qi brings a number of skills to the Board and will also act an important bridge between the company and Kalahari's extensive network of contacts in China and Namibia. This brings the Board membership up to five and we anticipate one further appointment in the near future." Qi Yu (aged 41)

[FRX]Fresh funds tinged with shares dilution but overall secondary offering being put to good use leading to future assets growth. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11469011

[ECV] Trading update for the year ended 31 December 2012. Summary: · New Vito sales increased by 71% to 561 vehicles in 2012 (2011: 331) · Revenue for the year ended December 2012 increased by 40% to £31.1m (2011 £22.2m) · EBITDA before non-recurring items is estimated to be in the region of £0.8m - £1m (2011: EBITDA loss £0.9m) · Net debt (being cash and cash equivalents together with long and short term borrowings) of £0.8m (2011: £3.1m) · Loss before tax from continuing operations and excluding non-recurring items amounted to £0.1m - £0.3m (2011: loss £2.2m) Trading has remained robust since the previous announcement on 7 September 2012, when the Group reported strong trading in the first seven months of the year followed by sales of 138 vehicles in the last quarter of the year. ECV has now sold in excess of 2000 Vito taxis. The latest version of the Blue Efficiency Vito taxi, which was launched a year ago, complies with stringent new European Union vehicle emission standards as well as providing superior quality, improved fuel efficiency, driver comfort, six-seat capacity and fully meets wheelchair accessibility standards. The strength in new taxi sales reflects the growing popularity of the latest version of the Vito Taxi as drivers continue to take advantage of the Mercedes-Benz three year Agility finance package which has been continued into 2013. John Swingewood, Chairman, said: "We are delighted with the continued improvement in performance over the last year and the return to positive EBITDA. This year has also seen a significant reduction in debt, disposal of non-core assets and the consolidation of our controlling position in One80 Limited that earns revenue through intellectual property licence fees from the manufacture of the Vito Taxi.

[ANGM] Some have stated that ANGM is protected from creditors at the moment, that is the shares are suspended, that is not true, There is a whole lot of difference between a share being suspended and administration or liquidation. The Company continues to trade as per normal with all that goes with that, the one and only thing that has changed is that there is no market in the shares, that is all. The Direcors and the corporate team will be looking to salvage the situation. As the shares are suspended currently at below par/nominal/face value there can be no secondary offering post suspension being lifted even if there was a consolidation which in any event does not solve the issue. There are only two options post suspension 1) a share restructure whereby the nominal value is manipulated so that it is above nominal value thus facilitating a secondary offering; 2) a second tier of shares are issued as in the old days called preferential shares or similar which carry all manner of rights attached and would raise necessary funds. I cannot see debt as an option as the current debt cannot be managed. A sale by way of assets takes place bills and debts paid then a share restructure and presto a "clean" company with existing shareholders. It all boils down to whether ANGM is a going concern and that will be decided by the "suits".

[ANGM] This announcement comes as no surprise ! At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 24/01/2013 07:30am, pending clarification of the company's financial position. Some very drastic and determined corporate slight of hand is required now to salvage this company with a torrid financial history which has been clinging onto the financial precipice for longer than expected.

[POL] held discussions with interested parties over the last year regarding the sale of its 29.77 per cent stake in GCM Resources plc [GCM]. Discussions are ongoing and at a very early stage and there can be no certainty that an offer for some or all of its interest will be forthcoming. As at today's date, Polo holds 15,220,985 ordinary shares in [GCM], representing approximately 29.77 per cent of the issued ordinary share capital of [GCM]. Sale of the 29.7% stake could fetch in £6mns @ current share price. £6Mns would be a very useful liquid cash amount.

[WSG] has secured a new contract for the supply of high technology scanning equipment to be used in a counter terrorism role to protect a key installation in a Middle Eastern country. The contract, secured by the Group's international division and valued at approximately $3m, is to provide a robust system for the screening of lorries and vehicles entering a high security oil & gas plant to scan for contraband and threats concealed within vehicles before they enter the facility. Once delivered there is further potential for ongoing recurring revenue via a multiyear maintenance agreement, due to the sophistication of the equipment concerned. The order is expected to be delivered in the summer 2013. Commenting on the contract award Peter Fowler, Chief Executive of Westminster Group, said: "I am delighted to start 2013 with the announcement of this latest multi-million USD contract award to an important new customer within the Middle East. The contract is significant, not only in terms of revenue but also in terms of future business potential, particularly as we are in discussions with this and other customers in the same country for the provision of high technology solutions for the protection of critical national infrastructure. "This is a further validation of our business model of providing niche products and large scale integrated solutions to governments and major corporations within the Middle East, Africa and Asia."