Member Info for Petronius

First bought in to ALK in 2008 @ 18.3p then topped up in 2009 @ 14.5p but things moved too slowly for me and sold out for profit later on in the year. Its been on my watch list ever since and never thought I would get the chance to get back in again once the business took off and started generating profits and delivering divis but when the death cross occured (50dma diving down through the 200dma) in the first half of 2014, it was time to take a close watch. Eventually set my buy target @ 23p at the beginning of this week and it triggered for 22.67p this afternoon. Really chuffed to be back. Not too worried about the slide because in my view, the oil price has been artificially suppressed for political reasons and prices will eventually recover. Like what ALK are doing and the way the company is being run. Good share to buy and hold. Good luck all.

Just noticed a £4M buy go through right at the close!!!

Apparently not! Looks more like a rush for the exit. Very strange. The directors are clearly confident of a good outcome for the new drill programme and are nicely placed for any upshot. That upshot may come sooner than we think if Taurus decide they like what they see and put in a bid for the remaing 60% of NRRP. Any idea how long before the results of the drilling will be known?

Strong commitment from directors. Should encourage the market.

.... and some fell on stony ground. I think they are all chattering on google (see posting 10/12/12). In the meantime, waiting for news .....

I don't think they need to make an offer, since if they keep funding the JV through to stage three and completion, then they will own 90% anyway. My previous posting 16/08/12 refers "....... the last update on the Monte Muande JV was dated 10/04/12 reporting on BAO's completion of stage 1 of the JV (to fund & drill 2,000m) earning them 60% interest in the project. The results were good and did not cost NRRP a penny. So as things stand, NRRP still own 40% interest in this magnetite, phosphorus, uranium & gold prospect - "drill results from magnetite rich intersections report premium concentrate grades of 69% Fe at a mass recovery of 26%". It will now be interesting to see if NRRP elect to participate in stage 2 (pre-feasiblility study) & stage 3 (definitive feasibility study) because if they elect not to, then BAO will increase their interest to 75% (at end of stage 2) and then 90% (at end of stage 3) , leaving NRRP with only 10% interest in the project (albeit, NRRP would not have expended any outlay).

Yes, we would expect the directors to press for a full and fair valuation of the company, if Taurus put in a bit to swallow it up but the RNS dated 4th Jan 2013 which states "The development of the Company will be implemented by a strengthened board of directors (the "Board"), which will, in due course, consist of six directors, three of whom will represent Kalahari." - so a board leaning towards Taurus? Difficult to see how this will turn out for NRRP shareholders.

Flicking through the pages of one of the investment magazines, one of their 'analysts/contributors' believes NRRP will gradually be absorbed into Taurus and then delisted. The current directors are Martin French with 16mm shares (2.28%) + Mr He & Mr Yu. Taurus currently hold 38.03% via KAH & Taurus Minerals Ltd. On the outside, I see David Steinpreis still holds 22mm (3.21%) and major nominee a/cs hold 15% Any thoughts on how this one will go/likely outcomes?

so NRRP now have 1 month to sign up a replacement Nomad - seriously, how difficult can that be? In all probability they are still talking to the prospect they mentioned in the 29/11/12 RNS. The point is, NRRP are moving closer to a JV with KAH for the development of the Namib lead, zinc, silver prospect "Kalahari Minerals Plc holds approximately 38 percent of North River and is supportive of North River's endeavours, especially on its developing Lead Zinc Silver Project in Namibia and whose representatives are active board members of the Company" which could very quickly take off. For those that missed the Proactive Investors note, here is the link: http://www.proactiveinvestors.co.uk/companies/news/48972/north-river-resources-maiden-namib-resource-sufficient-for-mine-planning-says-broker-48972.html

So NRRP have 4 (working) days left to sign up a new NOMAD and if we can't get the replacement Nomad they are currently in talks with to sign up by then, we will still have 1 month (in suspension) to find someone else. Apart from that it was all good news with the likelyhood of a JV with KAH in the new year.

As reported in my previous post 11th Oct, city brokers Fairfax believe the Namib lead/zinc mine to be a viable small scale proposition but we have no details of costs/financing/JV arrangements - we await this info. The shares have alway be traded freely, even when Kalahari Minerals were the major shareholder and it has been noted by others, that there seems to be a buyer snapping up 500,000 shares on a regular basis. Our major shareholder is now Taurus who have acces to huge funds and we wait to see how they will involve themselves in the development of these projects, now coming into fruition. The news flow will hopefully bring clarity over the coming months. Feel very good about our prospects.

the regular news flow was promised in the 30/06/12 interims and since then we have had 3 x RNS's - 30/08 (Namib update), 6/09 (new licences) & 10/10 (Maiden Jorc for Namib). Thats not bad and hopeful we might get another at the beginning of November. The news I would like to hear is regarding their production plans, who their JV partner might be and what involvement we might see from Taurus.

obtain city brokers view that $20M revenues per year are possible from a small scale mining operation at the Namib Lead/Zinc site - see link http://www.proactiveinvestors.co.uk/companies/news/48972/north-river-resources-maiden-namib-resource-sufficient-for-mine-planning-says-broker-48972.html

Another step towards production today. Stick with it.

Excellent interim results, showing the Namib lead/zinc & Malachite Pan copper project both advancing towards production. "Defined active development plan being carried out - regular news flow anticipated" - so now investors can stop being so twitchy about 'no news'! David Steinpries could not have made it any clearer "... the Company is now in a strong position to progress these assets towards production." Investors need to have patience - NRRP are close to transforming themselves from prospectors to producers in a relatively short space of time. The big mining operations are constantly watching the smaller prospectors and we can expect news of a JV within 12 months in my view. Lots of other interesting, prospective projects held by NRRP so a great long term hold.

from the ECR board: http://www.chinamining.org/News/2012-08-14/1344932851d58689.html more reason for Taurus to maintain their interest in NRRP

Maths a bit wobbly. We can expect 2 RNS's a month, so 6 over the next 3 months. Still plenty to look forward to.

we can expect news of further developments! Go back to my post of Thurs 08:35 and you can see where the focus is, that there is an active development plan and there is near-term production potential. NRRP are pretty good at keeping us updated (15 x RNS so far this year - average of 3 a month) so short term, 3 months hopefully we will get 9 RNS's. That should keep most of us happy.

Not dead - just resting. As Nicpic pointed out " 'we are excited about the future of North River and look forward to keeping shareholders regularly updated on developments". 'Regularly updated' means good news just around the corner - hoping for details of a JV and get some of our prospects on the road to development.

I am sitting here thinking about gold (I do that a lot) and wondering why NRRP have picked up some more exploration licences, when we have 2 x 'good to go' (seemingly) projects on hand, being a small exploration company and all that. Being a gold bug, I am ok with the gold EPL's but the timing seems odd. Now today, I come across this article: http://www.321gold.com/editorials/russell/russell090612.html so now I am wondering if our friendly investor Taurus has had a hand in this and suggested to NRRP that if they happen to find gold, they believe their lords and masters in the imperial city, would give great assistance to bring a mine into production - things like mining engineers, equipment, cash etc. You can imagine the conversation across the ether "This is Pooh Bah #1 from the great hall of the people - congratulations Comrade He and Comrade Yu in securing next 50 years supply of uranium for our nuclear programme, you will receive your gold Mao Star on return. Talking about gold, we note you have gained a sizable interest in a small miner and as you know, at a time when currencies are collapsing around the world, the last man standing will be gold, so perhaps a friendly word in the ears of the NRRP BOD might pursuade them to try their hand in gold prospecting, with the promise of high level support. After all, we do not want to make waves by looking for gold ourselves but with NRRP fronting for us, it is a great opportunity for us to build a stake. Remember ancient Chinese proverb 'the mountains are high and the Emperor is far away' so it is up to Yu (and He)". (Chinese humour) You can call me an old conspiracy theorist if you want to but it all makes perfect sense to me.