Member Info for optimist13

more positive developments. FOR IMMEDIATE RELEASE May 30, 2016 TSX-V:EUU EUROPEAN URANIUM CHANGES NAME TO AZARGA METALS EUROPEAN URANIUM RESOURCES LTD. (TSX-V:EUU) (the “Company”) is pleased to announce that further to its news release dated March 1, 2016, the Company has taken the final steps to consolidate its shares on a 10 old for 1 new basis and has changed its name to Azarga Metals Corp. The common shares of the Company will commence trading on a consolidated basis at open of market on Tuesday, May 31, 2016 as Azarga Metals Corp. under the trading symbol AZR. Registered shareholders will be mailed a letter of transmittal instructing them how to exchange their shares. On May 31, 2016, the Company will concurrently close, on a post-consolidated basis, the acquisition of 60% of the Unkur Copper-Silver Project in eastern Russia, the concurrent private placement raising $2 million and finally the settlement of related party debt (the “Transactions”) all as announced on March 1, 2016. Alexander Molyneux and Vladimir Pakhomov will join Michael Hopley and Dorian (Dusty) Nicol on the Board of the Company to fill the vacancies created by the agreed upon resignations of David Montgomery and David (Sam) Hutchins. The following table sets out the share structure for the Company after all of the Transactions are completed. Number of common shares Existing common shares on issue 65,942,653 Common shares post 10:1 consolidation 6,594,265 New shares to be issued May 31, 2016: - Unkur Acquisition (to Selling Shareholders) 15,776,181 - Private Placement 20,000,000 - Finder’s fee on private placement 32,500 - Settlement of existing EUU debts 577,572 Total post-transactions common shares 42,980,518 All of the common shares to be issued May 31, 2016, will be subject to a hold period in Canada expiring on October 1, 2016 and the shares to be issued to the Selling Shareholders will be subject to an additional twenty months so that the 15,776,181 shares will not be able to be traded until May 31, 2018 at the earliest. EUROPEAN URANIUM RESOURCES LTD.

mdmd - I expect the update will be given at the AGM. The documents alluded too in the RNS have not been uploaded as yet.

I see the net asset value has dropped slightly yesterday, which seems to reflect the drop in the value of the Merrex Gold holding last week. The Merrex Gold share price was up yesterday, and with drilling results due very soon, coupled with the talk of a takeover, we could see a significant increase in their share price which would have a meaningful impact on the NAV.

Just noticed the late reported trade for over 1m shares the other day. Hard to figure out what is going on and where the shares are coming from and going to, but the trade represents another 2.5% of the company's shares in issue. I see the AGM has been set for 21 June, so hopefully a further update will be given on the CULS repayment.

The real spread is very different to the advertised spread. No change from any of the MM's today so far, but that could change in an instant. Waiting for a further update on the IMC Exploration Group listing on the main market which was initially scheduled for today. GRIT hold 16m shares.

Can't work it out at all. They are not buys or sells, so I assume there is some sort of balancing going on. However, it is 2% of the company's shares, so it is significant in my book

Interesting take on the value of Merrex Gold. At today's price, our 29m shares are worth circa £3.6m, but if a takeover were to happen, then you can add a few million to the price. From a poster in Canada: MXI Market Value & Buyout Value Now that everyones all jittery with this huge volatility. Here's my take on the current market value of MXI with Gold hovering closer to $1,200. In early May MXI spiked to $.31 and did a fast candlestick wick reversal back down to $.28 and yesterday we had that large candlestick wick reversal from $.20 back up to $.24. The current market value seems to be a happy in-between at around $.25. I would say this is the market value at Gold $1,200 even if no extension drilling ounces added, just with the 1.5 Million ounces we alread have proven. And the buyout value on that at minimum $.30. Now with the Diakha extension drill results coming out soon, to show more quality ounces, it should thrown our market value up to $.35 at minimum and a buyout value between $.50 to $.70 depending on how good the new extension drill results are. So my stance still remains that we're risk free anywhere under $.30 because IamGold would most likely buy us out at $.30 even without more ounces proven and the market value is holding strong at a happy in-between $.25 with more ounces to be proven in a few weeks. It still ooks like a "Low Risk" versus "High Reward" situation to me, inspite of the high volatility and any Treetop Shakin' going on ;) Read more at http://www.stockhouse.com/companies/bullboard/v.mxi#auSmOOlC6IUD9GzR.99

Yes, 10 June at the latest, but I suspect we may hear before then given the recent share transactions. With only 40m shares in issue, a 400k trade represents 1% of the company's shares.

IMC Exploration Group moving up on ISDX today. Up 16%, but still a long, long way from the share price a few years ago. With the agreements they now have in place, it will be very interesting to see the level of interest once it is on the main market. You would expect that various discussions have taken place for the company to spend the funds for the listing. Next week could be interesting for IMC and GRIT who could see a sharp increase in the value of the holding.

Expect some further strange trades today after the close probably. The buy price has moved to 6.30p from 5.90p yesterday. Not long to go now for the promised update: "I will be writing to you within the next six weeks giving notice of the Company's Second Annual General Meeting and will provide a further update at that time." Lord St John Chairman 29 April 2016

Extract from prospectus: Application will be made (1) to the FCA, in its capacity as competent authority under the FSMA, for a listing of 107,816,719 Ordinary Shares to be admitted to the Official List of the FCA and (2) to the London Stock Exchange for such Ordinary Shares to be admitted to trading on the London Stock Exchange's regulated market for listed securities, which is a regulated market for the purposes of Directive 2004/39/EC (the Markets in Financial Instruments Directive). Admission to the Official List and unconditional trading on the London Stock Exchange ("Admission") is expected to take place on or about 31 May 2016. The Ordinary Shares are expected to be traded under the symbol "IMC". The Ordinary Shares are currently admitted to trading on ISDX Growth Market under the symbol "IMCP"; trading on ISDX Growth Market will be cancelled simultaneously with admission of the Ordinary Shares to the Official List.

correction - they hold 16.38%

IMC Exploration Group list on the main market next week, moving from ISDX. GRIT hold 14.8% of the shares, so there is a very good chance they will see a significant increase in value from the current depressed price. Well worth looking at the IMC website.

I don't know how people are acquiring shares at below the market rates. http://www.investegate.co.uk/global-resources-inv--grit-/rns/holding-s--in-company/201605261630024584Z/

More strange trades going through at the moment. It will be interesting to see where the 'market' values the company when it is confirmed that the CULS loans have been repaid.

Think I had the wrong Zenith Energy yesterday. This one is Canadian listed and also looks promising: http://www.zenithenergy.org/ Quite a bit of recent news on their website.

After that last RNS there is not much to say. The results could be released quite soon if you look at the release dates over the past couple of years. Whether we get any meaningful content within the results remains to be seen, but there is no question that the assets in Argentina are now worth a lot more than they were a year ago. The company, IMHO, is not going bust, but it seems to me it is a question of how much they can get way with shafting the LTH's.

Not sure if this is the same Zenith Energy, but if it is, it looks promising: http://www.dailyrecord.co.uk/business/business-energy/zenith-energy-secures-first-offshore-8032345#yCyp66eFBO7Q4vFq.97 Extract: Well engineering firm Zenith Energy has secured its first offshore well engineering contract with a drilling rig with Rockhopper Exploration. Aberdeen-based Zenith said the first project in the six-figure, “long-term” contract will see it manage the abandonment of a platform well located offshore Italy. Zenith Energy and Rockhopper established a working relationship in 2015 to execute Rockhopper's the planning of its onshore well abandonments. Martin Booth, managing director of Zenith Energy, said: “Having recently completed the project management of an onshore development well in the UK as well operator, this next project marks another first for Zenith - the managing of an offshore drilling rig operation. “This award will also augment the well abandonment experience already contained within our team of expert engineers.” Zenith announced earlier in May it has struck oil at a UK onshore well project for London-based Terrain Energy.

previous post did not copy correctly: Arakan Resources 75,000,000 26.67% Anglo African Minerals 201,620,815 23.88% Portex Minerals 204,984,302 19.51% European Uranium Resources 65,942,653 18.96% IMC Exploration Group 97,816,719 16.36% Merrex Gold 181,566,505 15.97% Mineral Mountain Resources 192,095,348 14.89% Inca One Resources 78,686,347 14.47% Sniper Resources 67,129,000 14.18% Tirex Resources 100,160,290 13.13% Maxim Resources 42,954,254 12.80% Nulegacy Gold 159,850,479 12.51% Incor Holdings 11,784,000 6.36% Waterberg Coal 315,934,000 6.33% Zenith Energy 37,088,846 5.12% Saturn Minerals 134,360,219 4.94% Wishbone Gold 999,990,364 4.90% Santa Fe Metals 45,951,490 3.99% Blue River Resources 65,730,051 1.51%

As at 31 December 2015, the Company held 3 per cent or more of issued share capital of the following companies: Arakan Resources 20,000,000 26.0% Arakan Resources 75,000,000 26.67% Anglo African Minerals 201,620,815 23.88% Portex Minerals 204,984,302 19.51% European Uranium Resources 65,942,653 18.96% IMC Exploration Group 97,816,719 16.36% Merrex Gold 181,566,505 15.97% Mineral Mountain Resources 192,095,348 14.89% Inca One Resources 78,686,347 14.47% Sniper Resources 67,129,000 14.18% Tirex Resources 100,160,290 13.13% Maxim Resources 42,954,254 12.80% Nulegacy Gold 159,850,479 12.51% Incor Holdings 11,784,000 6.36% Waterberg Coal 315,934,000 6.33% Zenith Energy 37,088,846 5.12% Saturn Minerals 134,360,219 4.94% Wishbone Gold 999,990,364 4.90% Santa Fe Metals 45,951,490 3.99% Blue River Resources 65,730,051 1.51%