Member Info for optimist13

mdmd, still here. just back from a trekking trip. I see Mineral Mountain Resources share price has increased significantly over the past two weeks. Positive news regarding the placing and warrant price. Will await the final details, but I will probably take up my entitlement given the potential of some of the portfolio companies.

The big question is what the repayment was in the second half of last year from the JV company. In 2104, £3.38m was repaid. In the first 6 months of last year only £904k was repaid, so how much was received in the second half. Re-reading the RNS from the 13 April, the company had this to say about the loan: "The plant to date is performing to budget at EBITDA level for 2016 and it is meeting its third party obligations from its own resources. The Company expects cash receipts for the full year to be at a similar level as 2015." However, we don't know what the 'level' is for 2015 until we can look at the results for last year. As I have said before, IMHO the directors have deliberately chosen to keep information as vague as possible. Even the announcement last night coming out after the close smacks of subterfuge.

mdmd - agree with your deduction, but it is disappointing that a formal update has not been given at the AGM as indicated in the year-end results.

All resolutions passed, but no formal update on the CULS loan. http://www.investegate.co.uk/global-resources-inv--grit-/rns/result-of-agm/201606211310028444B/

The company have until the end of this month to file the final results for the previous year. They were published on the 19 June last year, so they are imminent. With so much activity at the moment...you can laugh at this point, they must be pushed for time to include all of the developments. On a more serious note, it is time the directors came clean on their intentions. They are merely employees of the company and have shown nothing but contempt for the long suffering loyal shareholders here.

Yes, and it is the AGM today and there should be an update on the repayment of the CULS loan. AGM is at 12 noon.

I see IPSA have changed their registered office. Does the address ring bells with anyone? IPSA announces that the Company has changed its registered office and business address to: 17th Floor Millbank Tower, 21-24 Millbank, London SW1P 4QP.

I see gold is on a charge at the moment. A positive drill update from Merrex Gold would add a few pence to the portfolio value, and if a takeover of Merrex Gold were to take place, the value would increase significantly.

Yet more mysterious trades at neither the quoted buy or sell price, at least not the quotes that I get form Barclays. AGM soon along with the promised update on the CULS repayment.

Merrex Gold moving up yesterday: $.75 Price Target on MXI by Franklin Independent Merrex Gold Inc Cant Burn Your Long Portfolio. Has Another Strong Session by Franklin Staff June 8, 2016 Merrex Gold Inc (CVE:MXI) is a huge mover today! The stock is up 2.04% or $0.005 after the news, hitting $0.25 per share. About 122,300 shares traded hands. Merrex Gold Inc (CVE:MXI) has risen 6.00% since May 9, 2016 and is uptrending. It has outperformed by 4.42% the S&P500. The move comes after 7 months positive chart setup for the $48.35M company. It was reported on Jun, 8 by Barchart.com. We have $0.75 PT which if reached, will make CVE:MXI worth $96.22 million more. Merrex Gold Inc. is a junior mineral exploration company. The company has a market cap of $48.35 million. The Firm is engaged in the business of acquiring, exploring and evaluating natural resource properties, and either joint venturing or developing these properties further or disposing of them when the evaluation has been completed. It currently has negative earnings. The Companys primary assets are its gold properties in West Mali, Africa and its Karita exploration authorization in Guinea and its zinc-lead properties in Nova Scotia, Canada (the Jubilee Project). http://www.franklinindependent.com/merrex-gold-inc-cant-burn-your-long-portfolio-has-another-strong-session/ Read more at http://www.stockhouse.com/companies/bullboard/v.mxi/merrex-gold-inc#D1DERphCo3FyxK5m.99

just keeps on rising. Our portfolio is looking better by the day.

new out for Forte Energy: http://www.investegate.co.uk/forte-energy-nl--fte-/mkw/market-updzate/20160610143016M5723/

I get the same quotes from my broker as well. There certainly appears to be some balancing of the books before the CULS loan repayment announcement.

mdmd - looking at the portfolio, the key driver for any material share price appreciation in the short term will be Merrex Gold. If the drill results are as good as some make out and the CULS loan repayment is confirmed, then a significant re-rate of the share price should occur. The late reported large trades have continued around the current share price, so at least a floor appears to have been established.

Merrex Gold up 8.7% so far today. Interesting times ahead.

There is clearly something going on behind the scenes. SASO Investments now have over 15% of the shares in GRIT. http://www.investegate.co.uk/global-resources-inv--grit-/rns/holding-s--in-company/201606071515024793A/

Update from Blue River Resources http://www.blueriv.com/news/2016/News-Release-Banlung-Exploration-plans-2016.pdf Extract: BLUE RIVER RESOURCES ANNOUNCES EXPANDED SURFACE GOLD ANOMALY  AND EXPLORATION PLANS FOR 2016 BANLUNG PROJECT, CAMBODIA   VANCOUVER, BC, (May 31, 2016): Blue River Resources Ltd. (TSXV: BXR ) (OTC:BRVRF)  (Frankfurt:0BL) (“Blue River”) is pleased to announce that the surface gold anomaly on the  Banlung Project, Cambodia has been expanded to 4.37 km2, with a higher gold pan concentrate  zone measuring 40 hectares, within the zone.  Today’s announcement follows a previous release of exploration results on the Banlung Project  dated October 13, 2015 where ANGKOR Gold Corp. (TSX.V:ANK) disclosed the discovery of a 2  km2 surface gold anomaly from sampling 12,500 termite mounds over an 6.8 km x 8.4 km area.  Visible gold was panned from 83% of the termite mound samples in the 2 km2 anomaly area.  A second infill program of systematic soil sampling of 2,420 termite mounds was conducted in  late 2015 and has expanded the size of the surface gold anomaly by more than 100%. The  surface gold anomaly now covers an area of 4.37 km2, twice the size of the known anomaly  identified in the first survey. The results of the infill survey shows the highest gold pan  concentrate results covers an area of 40 hectares. Rounded to angular visible gold grains were  found from panning in 64% of the total samples collected in the second survey, leading to the  possibility that the source of this gold is within 50 to 500 meters from the surface anomaly.  Gold values from auger drilling and surface sampling to date on the Banlung Project range from

Many thanks for posting the link. I see they have received offers for the Rurelec shareholding. It all sounds rather messy and further action may be taken against current or former directors. Rurelec results are due anytime now and it will be interesting to see whether they make any comment on the Sterling Trust holding.

Merrex Gold up 15% on Friday after announcing a private placing to raise $3.5m http://www.merrexgold.com/s/NewsReleases.asp?ReportID=751423&_Type=News-Releases&_Title=Merrex-Gold-Announces-3.5M-Fully-Subscribed-Private-Placement Extract: Jun 03, 2016 Merrex Gold Announces $3.5M Fully Subscribed Private Placement HALIFAX, NOVA SCOTIA -- (June 3, 2016) - Greg Isenor, President and CEO of Merrex Gold Inc., ("Merrex" or the "Company") (TSX Venture: MXI) announces: Private Placement The Company is proceeding with a non-brokered unit private placement offering (the "Offering") totaling C$3,512,000 at a price of $0.20 per unit. Each unit will be comprised of one common share and one share purchase warrant exercisable at $0.30 per warrant share for a term of 36 months. The Offering is fully subscribed. All securities issued will be subject to a four (4) month hold period from the date of closing. The Offering is subject to the approval of the TSX Venture Exchange.

Azarga Metals has commenced drilling programme: https://www.azargametals.com/assets/docs/nr/2016-06-02_nr-azr-amb6cv.pdf