Member Info for optimist13

Good to see a the increase in the share price. Just picked up this report from one of the portfolio companies: https://www.euresources.com/news/2016/azarga-metals-drilling-confirms-sub-surface-mineralization-at-unkur-copper-silver-project Extract: August 22, 2016 Download PDF AZARGA METALS CORP. ("Azarga Metals" or the “Company”) (TSX-V:AZR) announces an update on drilling at its Unkur Copper-Silver Project in the Zabaikalsky administrative region of eastern Russia. Two holes have been completed since drilling commenced approximately two weeks ago and both have intersected distinct zones of visible mineralization. Hole AM-007 intersected approximately 23 meters of visible copper-bearing mineralization from 56 meters to 78 meters and hole AM-003 intersected approximately 20 meters of visible copper-bearing mineralization from 40 meters to 60 meters. Azarga Metals’ president and CEO Dorian L. (Dusty) Nicol commented, "My enthusiasm for Unkur, already very high, is now even higher and I am very optimistic about what we will be able to drill out. Its encouraging technically and for our shareholders.”

Leicesterboy - the price is going up on pretty much every significant trade. You can buy 100k for 1.15p now, but that will probably go up on the next buy. Of course, there could be some sells, but with asset sales imminent, I think most people will now be waiting for the news. Good luck.

buy now 1.15p v sell of 0.95p. Still a long way to go when you consider the NAV price of 6.80p, and that is after all of the impairments and provisions.

Hi jeddicat, yes that was my buy this morning. I would agree that PE will be involved in some shape or form given his previous history, plus the fact that he also holds 7m shares in Rurelec and is the VP of EdS. However, leaving it to the very last minute to announce a reverse-takeover could see them running foul of AIM rules, so I would not be surprised if there is not an announcement before then. We are assuming of course that Rurelec are the target for IPSA but this may be very wide of the mark. Irrespective of what actually does happen, Rurelec are now committed to selling off some of the assets by virtue of their inability to raise any further funds via a placing. As I have said many times, in my opinion the administrators for Sterling Trust are firmly in the driving seat and it just so happens that our interests align with regard to obtaining the best possible price for the 54% shareholding they are disposing of in Rurelec. Our assets and loan book are real and tangible. EdS is becoming a real cash cow and its value is increasing with each passing day as the new government in Argentina make the country a more enticing place for business and investment.

Good morning Leicesterboy. I would agree that the end of September is the 'long-stop', but I believe we will hear some news before then. Re-reading the information on IPSA, they actually have until mid-September to complete a reverse takeover or they will go into administration. The end of August was the date of suspension for the shares. The share price continues to move back up and currently I am unable to buy any shares online, and the bid is now 0.95p, a long way above the quoted bid of 0.75p.

Oops....should read debtors not debts.

Thank you. I bit of optimism yes, but the fundamentals, assets and debts also give a clear picture IMHO.

Thanks. I might be a bit slow today, but what does 'And May' mean.

moving up....buy now 1.09p v sell of 0.90p.

appears to be very limited stock. MM's paying well over the bid now.

not sure which are buys or sells at the moment, but I am of the opinion that we are seriously undervalued. With a bit of luck, the shares will be suspended pending an announcement of assets sales and will start trading again at a minimum of 2.00p once the details are confirmed. There is clearly very little stock available at the current price and no chance of a placing to depress any re-rate of the share price.

correction - it has just gone through.

Well that is a shame. Can't buy any online at the moment. I have placed a limit order and even that has not been filled at the moment.

News can't be far away surely. From the results: "Providing that the Group manages to retain value from its core assets, the focus is to ensure that the Company is able to settle its creditors before determining future direction to allow shareholders to benefit from the existing asset base. Following the necessary disposals currently under negotiation, a leaner company unburdened with debt will be better placed to negotiate with partners to determine the future."

Things are starting to look quite positive here. Expect to see an important announcement from one of the portfolio companies in the near future.

The spread is closing...0.97 to buy v 0.79 to sell. With news due from IPSA and Rurelec's interim results out next month, we should have a better idea of where we are going. It will be enlightening to see how much the wage bill has dropped with the departure of very expensive directors and the impact of the cost cutting exercise. Also, further news on the repatriation of funds from Argentina and an update on asset sales should be forthcoming as well.

share price up again...now +12.50% today...so far. I think we will hear some sort of news this week, based on the fact that IPSA will have to make some sort of announcement.

Yes it was. There can be no placing and with plenty of assets to sell, plus the loan book, even a fire sale will return an awful lot more per share than the current level. The clock is ticking PE, you had better get a move on. I imagine PE still holds the 7m shares he has in Rurelec as well.

from the year-end report: " Rurelec's significant investment in Argentina over the past decade has resulted in a flagship project at Energia del Sur, which is a thermal plant believed to be one of the most reliable in Argentina. It operates under an enhanced value U.S dollar denominated contract with some four years still remaining before renegotiation of contracts, as well as generating to the spot market, which is Argentine Peso based."

Good morning jeddicat, the share price is all over the place this morning. We are now up 9.38%. Buy 0.98p v sell of 0.75p.