Member Info for optimist13

Lots of agreements being signed: http://en.mercopress.com/2016/09/15/siemens-pledges-to-invest-us-5.6bn-in-energy-and-infrastructure-in-argentina Extract: “I'm a happy man today because we can help rebuild the country,” Kaeser said, adding that if other investors don't act fast they may lose out on big opportunities in Argentina. “I would urge everyone to think about it twice before waiting because tomorrow it may be too late.” The commitment from Siemens, which could be the biggest yet from any company since Mr. Macri took office in December, is a vote of confidence in the Macri administration and Argentina's potential as a producer of renewable energy, Kaeser said. Siemens said the company would offer about US$3 billion in financing for the projects, which he said would create 3,000 direct and 7,000 indirect jobs in Argentina. The projects include plans to generate 5 gigawatts in energy, he said.

Funds are now flowing into Argentina. Very good news for businesses: http://en.mercopress.com/2016/09/15/after-15-years-we-are-open-for-business-in-argentina-announces-us-ex-im-bank Extract: “After 15 years we are open for business,” said ExIm Bank Chairman Fred Hochberg this week in Buenos Aires where he participated in the Business and Investment Forum, organized by the president Mauricio Macri administration. “We're willing to finance all possible export import projects, and at the lowest possible rates to support Argentina in its new process”, Hochberg was quoted during a panel at the forum he shared with Commerce Secretary Miguel Braun. The announcement was confirmed by a release from the Argentine government saying that the Exim bank decision involves both the private and public sectors and responds to an assessment by the US government on different countries' situation.

RNS released. IPSA shares cancelled on AIM. Good news as far as Ruelec is concerned. We just need to find out which companies the administrators of the Sterling Trust block of shares are talking too: http://www.investegate.co.uk/ipsa-group-plc/rns/cancellation-of-admission-to-aim/201609160700070082K/

According to the latest information from IPSA, today is the final day to make an announcement regarding a reverse-takeover and it looks as though an RNS will be be released at the last possible time. Whilst it has no direct impact on what is happening at Rurelec, it will be good to know that PE is not pulling the strings to the disadvantage of Rurelec shareholders.

http://www.bbc.co.uk/news/world-latin-america-37362973 Direct flights between Argentina and the Falkland Islands are to resume in a mark of the thawing relationship between the UK and Argentina. The UK government also announced that it would co-operate with Argentina to remove measures restricting the oil and gas industry, fishing and shipping. The UK confirmed the discussions would not affect the Falklands' sovereignty. Both Argentina and the UK claim the islands as their own, a dispute which led to war in 1982. Profile: Falkland Islands The Foreign Office said the statement was the first positive statement London and Buenos Aires had agreed on since 1999. The UK's Sir Alan Duncan said: "It's clear to me that Argentina is open for business. The measures agreed today demonstrate we can make progress through dialogue." 'New relationship' Argentina's last President, Cristina Fernandez de Kirchner, pursued a claim of sovereignty over the islands and tried to put pressure on British and US companies not to drill for oil in the waters around them. She required all vessels travelling between Argentina and the islands, and those that wanted to cross Argentine territorial waters en route to the Falklands, to seek prior permission. But her successor Mauricio Macri, who has been the president since December 2015, promised a "new kind of relationship" with the UK. Wednesday's announcement includes a commitment to DNA-test the remains of unidentified Argentine soldiers who died during the 1982 war and are still on the island. The Falklands are a UK overseas territory in the seas off Argentina. In 2013 the 3,000 people living on the islands voted overwhelmingly to remain a UK territory.

Well, PE has until tomorrow to announce a reverse takeover otherwise IPSA will de-list from AIM which in my view will be good news as far is Rurelec is concerned. Still feeling confident that the administrators for the Sterling Trust block of shares will ensure that the best deal will be done in the interest of all shareholders, and given that the loan to the company was only extended until the end of October, we shouldn't have long to wait for an update. Plus, the interim report is due this month as well.

I see the UK has a trade delegation in Argentina at the moment. All sounding very positive: http://en.mercopress.com/2016/09/12/trade-investments-and-falklands-in-sir-alan-duncan-s-agenda-in-buenos-aires http://en.mercopress.com/2016/09/13/macri-announces-top-level-meeting-with-uk-to-address-all-issues-next-week-in-new-york

The last sell related to a buy for the same amount earlier today. Some amazing decisions made by PI's.

Hi GFD, the 2.5p target is a minimum I have set myself. Including holdings that my wife has, we now have 6.2m shares and I may sell some once that level has been reached. Having said that, a lot will depend on the asset disposals. If the company continues independently and begins to pay a dividend then I will probably retain all of the holdings. All to play for here and I feel very confident of a successful outcome as far as my holding is concerned, but it will be a very poor outcome for LTH's if a deal is struck in the 3.00p region for the 54% Sterling Trust block of shares.

You're welcome. Very surprised to see a few sells given the very low share price in relation to the net asset value. Each to their own, but I am sure anyone doing a little bit of research will quickly see that any deal will result in a share price greater than 2.00p. It is also worth re-stating, the nominal value of the shares is 2.00p and the company cannot raise any funds below that level. The company is owed many millions of pounds in unpaid loans and interest from EdS in Argentina. Changes in government policy there now make it possible for the outstanding monies to be repatriated. Very important that people do their own research here.

You need to read the bulletin board for some detail. Basically, the company has taken a short-term loan until the disposal of assets are completed, which could be announced very soon. The history of Rurelec involves directors who are also involved in IPSA. IPSA have until the 15 September to announce a reverse take-over of they will de-list from AIM. Administrators for Sterling Trust, who own 54% of the shares in Rurelec are currently in negotiations to sell their block of shares and have interest from more than one suitor. The net assets of the company are a minimum of 6.80p.

Just had my last top-up in anticipation of news on several fronts this month. IPSA have until the 15 September to make an announcement or the company will be de-listed from AIM. Rurelec are due to release their interim report this month and should be reporting on the disposal of assets to pay off creditors and the short term loan. With net assets of circa 6.00p, after all of the impairments, we should be left with a company that can stand on its own two feet or become ripe for a take-over target. The administrators of Sterling Trust clearly see value here and will have their own ideas on which direction the company will take.

Another decent buy just gone through. The MM's will have to raise the 'official' bid as there are not enough sells to cover the buying and they clearly do not have any shares.

Managed to get another 100k today at 1.15p. Hopefully they will be a very good buy when the impending news is released by the company. My target price is 2.50p.

A few buys going through again today and the share price continues to climb. Still has a long way to go.

Could explain the interest in the stock over the past few days: https://masterinvestor.co.uk/trading/chart-day-global-resources-investment-trust/ Extract: Global Resources Investment Trust (GRIT): 16p Trend Channel Target What is interesting about the recent flow at GRIT is the way that the shares have spent so long in their extended downtrend, and have been so loathed to pander to the much better sentiment towards junior miners and value in the resources space. Indeed, it seems somewhat ironic that this company, with its stated aim to invest in such opportunities, has thus far appeared to be in the Cinderella position vis-a-vis investor interest in what should be one of the best exposed vehicles to the great turnaround in this space for 2016. Perhaps the first thing to note on the daily chart of GRIT over the past couple of years is the way that even as recently as 2014 the stock was trading at well over 50p, versus single figures currently. But at least we have a meaningful breakthrough as far as the June break above the 200 day moving average, now at 5.37p. This is now regarded as the weekly close stop loss on the recovery argument, especially as the 200 day line is backed by the floor of last year’s trend channel. All of this should be enough to take the shares back up to the top of the 2015 price channel with its resistance line projection heading as high as 16p. The time frame on such a target is regarded as being as soon as the next 2-3 months.

You have to laugh. The MM's have dropped the bid after the 100k sell to 0.80p, but the real bid is 0.96p. They don't have any shares, and with the potential of real share price enhancing news imminent, selling now could prove to be a very costly decision.

Spac3y - thanks for the reply. Looking very positive again here today. I hope the 100k buy was LB otherwise he is going to be very disappointed. Now up 12.50% today and the clock is ticking down to the asset sale announcement.

And this: http://www.merrexgold.com/s/NewsReleases.asp?ReportID=761244&_Type=News-Releases&_Title=Merrex-Gold-4000000-Convertible-Loan-Facility Extract: Aug 24, 2016 Merrex Gold $4,000,000 Convertible Loan Facility HALIFAX, NOVA SCOTIA -- (August 24, 2016) - Greg Isenor, President and CEO of Merrex Gold Inc., ("Merrex" or the "Company") (TSX Venture: MXI) announces: Convertible Loan Facility The Company has reached an agreement on the commercial terms for a C$4,000,000 convertible loan facility. The loan proceeds will be available forthwith upon completion of legal documentation, with repayment due on April 28, 2018. The loan will bear interest at 9% per annum. The loan will be convertible at C$0.21 per share, being the closing price of the Company's shares on the TSX Venture Exchange on August 23, 2016, or such other price as the TSX Venture Exchange shall approve. The loan proceeds will be used primarily to advance the exploration of the Company's joint venture Siribaya Gold Project, particularly the Diakha deposit, in West Mali. The loan facility is subject to the approval of the TSX Venture Exchange. About Merrex's Siribaya Gold Project The Siribaya Gold Project is a 50/50 joint Merrex-IAMGOLD advanced-stage gold exploration project in West Mali which consists of 11 contiguous exploration permits which cover a total area of 876.5 square kilometres and is located in the Kédougou-Kéniéba inlier of the West African Craton region of western Mali along the borders with Senegal and Guinea. The Diakha, Siribaya 1B, and Taya Ko deposits are hosted within highly prospective, Birimian-aged metasedimentary, volcanic and intrusive rocks proximal to the Senegal-Mali Shear Zone. At Diakha, gold mineralization occurs within an albitized sandstone similar to IAMGOLD's Boto gold deposit located approximately 10 kilometres to the north along strike. Zone 1B and Taya Ko occur within the north-northeast trending Siribaya structural trend, which extends over 10 kilometres along strike, and gold mineralization occurs within breccia-hosted stockworks or fault related silicified zones. During 2014 and 2015 exploration was focussed primarily on the 1.2 km Diakha deposit area which is located along the Fekola-Boto trend in the western-most portion of land package approximately 10 kilometres south along strike of IAMGOLD's Boto gold deposit (scoping and pre-feasibility studies in progress) and approximately 20 kilometres south along strike from B2Gold's Fekola deposit (mine construction commenced). The 2015 drilling program enabled geological 3D-modeling and completion of an initial NI 43-101 compliant resource estimate. The initial resource (table below) was released February 9, 2016.

This as well: http://www.tirexresources.com/s/NewsReleases.asp?ReportID=761110&_Type=News-Releases&_Title=Tirex-to-Commence-Fieldwork-at-Romovista-Gold-Silver-Zinc-Property-in-Kosov... Extract: August 23, 2016 Tirex to Commence Fieldwork at Romovista Gold-Silver-Zinc Property in Kosovo option payment made on the Romovista gold-silver-zinc property in Kosovo arranges up to $1 million in financing Tirex Resources Ltd. ("Tirex") is pleased to announce that the first option payment on the Romovista property in Kosovo has been made and that the company is arranging a financing which will allow exploration work on the project to begin. Financing The financing is by way of a non-brokered private placement through the issuance of 10 million units at $0.10 per unit with each unit consisting of one common share and one half share purchase warrant with each full warrant allowing the holder to purchase an additional common share at $0.15 for a period of 12 months subject to acceleration if the common shares close at $0.30 or greater for 10 straight days. The proceeds will be used for the payment of certain outstanding short term obligations, general working capital and for field work at the Romovista Gold-Silver-Zinc Property. Romovista Property Romovista covers an area of 4,141 hectares and is on strike and adjoining the Slivovo gold discovery which is controlled by Byrnecut International Ltd. Slivovo is rapidly advancing towards the completion of a pre-feasibility study. Significant drill intercepts continue to flow from Slivovo gold project. A recent report on the 11 holes that were drilled as part of a 15-hole pre-feasibility drilling program gave significant assay results that included 15 metres of 5.98 grams per tonne gold and 15.89 grams per tonne silver in DHIP001. The other holes had assays from 0.52g/t Au and 15.81g/t Ag to 2.76g/t Au and 17.93g/t Ag with thickness ranging from 9.2 m to 45 m (information taken from www.avrupaminerals.com). Additional to the proximity of Romovista to Slivovo, approximately 6kms to the northeast is the Artana Mine which is mining a lead-zinc-silver deposit containing some of the highest silver grades in Kosovo. Artana is mining approximately 150 tons/day grading 3.33% lead, 4.73% zinc and 124 g/t silver (information provided by Artana mine personnel).