Member Info for optimist13

Forget the previous posts on Mineral Mountain Resources. Just found a 1 for 5 consolidation report which took place last month, but which is not on their website. Value of stake is therefore reduced considerably to circa £900k and the increase in share price is also reduced to a much smaller amount.

Looking a lot healthier at the moment. Buy 6.15p v sell of 5.75p. Still some strange trades going through, although they may be delayed. Managed to buy a further 70k today in two trades. The more I research the various portfolio companies, the more I agree with the chairman that 2016 is proving to be much better. Don't think I am going to have much time left to buy the remaining 130k to get to my target at the current price at least. We have been promised an update before mid-June, so not long to wait.

Got my percentage increase wrong. The shares have risen over 600% since June of last year. Moved from 0.50 to 0.30 CAD

As at 31 August 2014 GRIT owned 28.6m shares in Mineral Mountain Resources. The shares have performed very well over the past year, rising over 200% and the recent presentation by the company looks very positive indeed. Not sure if my figures are correct, but at the current share price of 0.30 CAD, if GRIT still own the same number of shares, that would make the investment worth circa £4.5m. The recent company presentation is well worth looking at: http://www.mineralmtn.com/i/pdf/presentation.pdf

I should add that sentiment will improve as well once the loans are paid as the share will be significantly de-risked.

Delayed buy trades going through now. Appears some people are taking notice of the potential for a singificant increase in the share price. The NAV is published weekly, and is currently standing at 28.59p. With some of the positive developments in the portfolio previously highlighted, I would expect to see this continue improving over the coming weeks and months. It will definitely improve once the the CULS loans are paid as the company will no longer be paying interest on the loans.

I see the shares of IMC Exploration Group are to be listed on the main market at the end of this month. Link to the prospectus below. GRIT own 16m shares - 14.8% of IMC, and the listing should provide a lift to the current share price and the value of our holding. http://imcexploration.com/sites/default/files/Prospectus.pdf

Should be hearing further news shortly from Saturn Minerals. we own 8.6% of the company's shares. http://saturnminerals.com/saturn-minerals-completes-bannock-creek-oil-exploration-well/ Extract: SATURN MINERALS COMPLETES BANNOCK CREEK OIL EXPLORATION WELL March 29, 2016, Vancouver – Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) (“Saturn” or the “Company”) announces that the completions program at its Bannock Creek project has been finalized, a well head has been secured, a packer has been set at the top of the tested zones and that the well has been shut in. All zones of interest were tested and the results of the completions program are being analyzed to determine the most efficient production methodology for the 9B-5 well. The Company also announces that it will adhere to a “tight- hole status” of the 9B-5 well as per Provincial Regulations. Commensurate with the tight-hole status of the well, the Company’s “black out status” will also remain in effect. The black out status prohibits insiders of the Company from trading in the shares of the Company.

Looking at the price, it would appear to be a net buy, which if so, shows consolidation around the 6.00p mark. Investors appear to have passed GRIT by at the moment, but I fully expect this to change when the CULS are repaid. This from the results: "Sentiment has improved significantly since the year end, with precious metal producers a particular beneficiary. Concrete evidence of this can be seen in the Company's sale of NuLegacy Gold in April for £2.2m; this compared with a carrying value of £0.9m at 31 December 2015." "As reported above, the Company sold its whole position in NuLegacy Gold in April, realising £2.2m, and the Manager has said that it expects to be able to realise sufficient proceeds from the sale of a small number of quoted positions over a period of 3-4 months to allow the CULS to be repaid." Let's see where the MM's take the share price this week.

A quick review of the share price changes over the past year reveals some very good increases. A few have more than doubled, and many have very promising prospects. Well worth spending some time on to confirm the ability of the company to settle the CULS and deliver ongoing improvement to the current NAV. As at 31 August 2014, the Company held 3 per cent or more of issued share capital of the following companies: Number of Percentage ordinary shares held held Arakan Resources 20,000,000 26.0% IMC Exploration Group 16,000,000 23.0% True Zone Resources 3,000,000 21.5% Mineral Mountain Resources 28,600,000 19.6% Portex Minerals 40,000,000 19.5% Apogee Silver 73,000,000 19.3% Secova Metals 3,000,000 19.1% European Uranium Resources 12,500,000 18.9% Inca One Resources 12,000,000 18.7% Merrex Gold 29,000,000 18.6% Wishbone Gold 49,042,171 18.6% Minecorp Energy 15,000,000 18.5% Nitinat Minerals 900,000 17.9% Westminster Resources 20,000,000 17.6% Anglo African Minerals 23,153,846 17.4% Jaxon Minerals 2,500,000 17.1% Phoenix Gold Resources 5,950,000 16.7% Oracle Energy 9,000,000 16.5% Blue River Resources 10,000,000 16.4% Zadar Ventures 4,160,000 15.7% Cyprium Mining 6,000,000 15.4% Sniper Resources 10,000,000 15.2% Maxim Resources 5,500,000 15.1% Tirex Resources 13,800,000 14.5% Nulegacy Gold 20,000,000 14.1% Santa Fe Metals 5,400,000 11.7% Incor Holdings 750,000 10.1% Elcora Resources 4,200,000 10.0% Forte Energy 170,000,000 9.3% Nouveau Monde Mining Enterprises 3,000,000 9.2% Saturn Minerals 10,000,000 8.6% Parlane Resource 3,000,000 8.3% Bowmore Exploration 6,000,000 8.2% Zenith Energy 1,600,000 8.1% Waterberg Coal 20,000,000 6.3% Discovery-Corp Enterprises 3,000,000 5.6% Sage Gold 400,000 4.5% Archer Petroleum 6,000,000 4.0% Black Star Petroleum 15,000,000 3.1%

NAV 28.59p. Discount to NAV - 80.89% CULS loan will be paid off imminently. The company will be debt free shortly and is seeing a revival in the valuation of its gold portfolio. As I have said previously, with so few shares in circulation, a small buy-back programme could do wonders to the share price and put us back to a more sensible valuation versus the net assets.

More positive news. This time from Blue River Resources: http://www.blueriv.com/news/2016/News-Release-Blue-River-Angkor-Agrmnt-May-2016-IIROC-Approved.pdf Extract: BLUE RIVER RESOURCES SIGNS US $3.5 MILLION OPTION AGREEMENT WITH ANGKOR GOLD  CORP ON BANLUNG LICENSE, CAMBODIA  VANCOUVER, BC, (May 9, 2016): BLUE RIVER RESOURCES LTD. (TSXV: BXR)(US: BRVRF) (“BLUE  RIVER”) is pleased to announce that it has entered into a Definitive Agreement (“DA”) with  Angkor Gold Corp. to explore Angkor’s 100% owned, 150 sq. km, Banlung tenement in  Ratanakiri Province, Cambodia. The agreement gives Blue River initially the right to participate  in up to a 50% interest of the Banlung license after the completion of a total investment of  US$3.5 million in exploration expenditures over a 4‐year period. Once the first 3 options have  been satisfied, Blue River may then exercise their option on an additional 20% interest of the  Banlung tenement through the commission and completion of a bankable feasibility study on  the property or portion thereof.  Blue River Resources Ltd. is a mineral exploration and development company, focused on  discovering and developing copper deposits in the Quesnel Trough Copper Belt of British  Columbia and Washington State.  Today’s announcement follows a previous release of surface data on the Banlung tenement  dated October 13, 2015 where ANGKOR disclosed the discovery of a 2 km2 gold anomaly.   “I am pleased to announce this agreement with Blue River today.  The beauty of this anomaly is  its close proximity to surface ‐ making it easier to work on, and quicker to move to a  development strategy if warranted,” said Mike Weeks, President of ANGKO

With gold prices at a one year high, and the pound gaining in value against the Canadian dollar, our investment in Merrex Gold is becoming more attractive by the day. At current prices, our 29m shares are now worth circa £4.4m. Our mkt cap is currently £2.25m. Go figure.

What is going on....buys actually showing as buys.

Gold rising, Merrex Gold rising....and a week nearer the announcement of the repayment of the CULS loan.

mdmd - something is not right about the RNS. I believe the date of the trade is the 12 May and not the 12 March as there were no trades carried out on the 12 March. Which begs the question, how could they buy shares at 4.00p when the buy price was 5.50p. I know this because I purchased shares that day and my buy at 5.50p was shown as a sell. In my view this should be investigated as the RNS is incorrect. Think I might drop a line to the company and ask them to look at it.

There are some very strange trades going through at the moment. If you carry out a search on the buyer notified in the RNS, he could be buying on behalf of a number of companies, not least the spread betting firm he is a director of. It may not be the same person, but it is very coincidental. More interesting, the trade which took the stake above the notifiable interest was for 471,426 shares. This trade was shown as a sell and went through at 4.00p. Things are not what they appear here and convinces me even more that a severe upward correction to the share price is on the cards.

I see another person is stake building. A very wise man IMHO: http://www.investegate.co.uk/global-resources-inv--grit-/rns/holding-s--in-company/201605131525032511Y/

Merrex Gold share price rising again this morning in Canada. I see the MM's now want 6.00p if you want to buy shares. This is going to move very quickly when the next news lands. There can only be very limited shares available around this price so any buying will see this move quickly as happened a few weeks ago.

I would advise any prospective investors here to ignore the current games being played by the MM's and focus on the gold investments in out portfolio. If you look at the company website there are links to the investee companies and some make for very interesting reading. As I have stated before, the investment in Merrex Gold alone is worth far more than our current mkt cap and is more than enough to pay off the outstanding loans, coupled with the proceeds from the Nulegacy Gold sale. With so few shares in circulation, I would advocate the company buying back some of the shares when the loans are repaid, which in my view would lead to a rapid re-alignment of the share price nearer to the current NAV of 28.70p