Member Info for Petronius

Interesting to note that BOD are not content with just the lead/zinc + the copper prospect both of which look like being good short term prospects for early development but now happy to take on another prospect, this time for gold. There does not seem to be any concern regarding being over-stretched and I think we will be getting news about some Joint Venture partnerships shortly. Good to hear about the gold and if it turns out we find some high grade ore, then this will attract further interest.

so Brandberg EPL's 3327 & 3328 are dead (no surprises there) but we have two new EPL's 4560 & 4561 which are prospective for gold. Statement from David Steinpreis says it all: "Work on the Brandberg EPL's to date has shown that an economically exploitable secondary uranium deposit does not exist in the area and no further work is planned on EPL3327 or EPL3328. Accordingly, we will focus our energies on the new licences, our copper projects and in particular the development of our Namib Lead Zinc Project, which has near term development potential and recently reported excellent results, including samples of up to 20% zinc. With a portfolio at various stages of development, and with an active development plan which includes near-term production potential, we are excited about the future of North River and look forward to keeping shareholders regularly updated on developments."

Proactiveinvestors have issued their summary of the Thursday RNS which include various observations from An Ocean Equities research note. All very encouraging and ending with "there is good potential for North River to design a small scale but economically viable mine project at Namib" link: http://www.proactiveinvestors.co.uk/companies/news/47496/north-river-resources-spikes-12-per-cent-as-market-applauds-latest-namib-data-47496.html The next RNS due at the end of September I guess, may well spell out a development plan - then the chatter will certainly begin. Good weekend all.

sp up 8.82% and hopefully will start to attract some strong buying

yes - right on cue! RNS showing good sample figures with "Potential for significant semi-massive to massive zinc-lead mineralisation below the previously mined areas". It makes the point that Company's view is that "the mine was previously abandoned due to reasons other than exhaustion of mineable resources." Re-opening the mine and getting it working again will be a 'relatively' quick and easy route to production compared with starting up a new mine and this makes it hugely attractive. More news to follow probably end of September "The final tests of the preliminary metallurgical test program are being completed. Once the results are available they will be incorporated into a conceptual engineering study which is expected to be completed in September 2012" - so the next RNS may give us a steer as to when they expect operations are likely to commence. All looking good.

notifiying director Martin French acquired 2.7M shares. I thought there might be a statutory time lapse before an important announcement (30 days I believe) but we are well passed that and we are heading for 2 months without any news - very strange for a company with some exciting prospects, which look ripe for development. This is out of keeping with their previous history of announcements and can't help feeling something is brewing. Just wish they would get something out and put us all in the picture.

The NRRP web site has a news link and 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). I think I would like to see NRRP keep a decent stake in this project and at least, joint fund stage 2. NRRP have been very quiet on this JV (like the rest of its projects!) and it would be good to get a heads up on this one. Here is the link: http://www.northriverresources.com/documents/120410MonteMuandeUpdate.pdf

woops! Got my signals crossed on that one - in which case, well done for not getting sucked into an investment company! I am happy to stick with my current picks so good luck with SMA and don't miss the bus when Nrrp leaves the station.

did not think you would be first to blink! Waiting for news can drain your spirits and sap your confidence but when you are in for the long haul (plus carrying an average price of 2.175p) one has to remain sanguine! I feel NRRP are on the verge of becoming miners and moving into production very shortly, with some high grade and low cost prospects, so its a time for optimism. However, if you see a better prospect elsewhere, you have to make your decision but surprised you should opt for an investment management company (PRAE) - constanly raising funds, shelling out for new stakes, nothing coming in and all the while taking out management fees and expenses. I've been involved in a few in the past and have been disappointed. Hope it works out for you.

everything to play for here - still waiting for the BOD to issue their mission statement post Taurus.

to update us on project development, we will have to take Martin French's buy as a positive sign about what is going on behind the scenes. Mr 500K is back again this morning, so I guess he feels the same way.

Thanks for the heads up. Looks like Taurus are 'right behind us' but in the sense they are elsewhere, pursuing their main objective at Rossing. Things could be slower than we thought so we will have to wait for the scoping study report and hopefully, they will detail the action plan then.

we are all looking for the development plan for the Namib prospects. Shareholders want to see some production. What's the plan?

'revealing'

unable to verify but note the last shares bought by MF were 1.66M @ 4p back in 25/11/09. I am sure he would like to see the sp rise (like the rest of us!). The directors seem to be taking their time putting together some sort of development plan but still optimistic for the future. Next RNS should be renealing.

the fact we appear to have a big hitter, prepared to build up a large stake in NRRP, seems to indicate we have a strong, knowledgeable investor, taking a position in a 'sure thing'. Given the amount they have bought todate, makes me think there is more than one big hitter, otherwise we would have had a declaration of interest by now. Either way, helps to support the position we have taken as small PI's. Now they have Taurus behind them, NRRP must be working on their plan to start developing the Namib lead/zinc + copper prospects and feel sure this will be the next RNS. We just have to be patient.

that the share price is 2.27% up at 1.13p on share trades of 512,460 sells and 21,290 buys (at 11:37am). Are we due for an RNS?

do not concern yourself. I sometimes get the impression that the MM's just walk the price down on slow days just to try and trigger some action or perhaps activate some 'stops' just to get some deals going through the system. They need movement in the market to get deals and they only get commission when the deals go through. Things are well positioned for another leap forward and expect more in the way of development news soon.

Have not come across LDP before but just taken a quick look. I tend to steer away from investment companies as they seem to be forever tapping the market for money so they can buy a stake in this, that or the other and when they are not buying stakes, they are awarding themselves with big salarary packages for basically, just looking after their portfolio. Its all money going out and never seemingly, coming in. I notice the MM's don't seem to like them very much as they tend not to generate much in the way of income and the sp never seems to go anywhere. I prefer the early stage explorer, who wants to become a producer. This one has another downside for me and that is the geo-political risk as most of their investments seem to be going into central Asia - not a region known for its respect of people's property rights nor for its political stability. Take care.

I see you have made your decision! The only comment I could offer is that it is an opportunity to bring down your average which in turn means you can top slice earlier and keep more for the future. All these early stage AIM miners are long term holds in my view and top slicing at a convenient time completely de-risks your holding and allows you to move on to pastures new, knowing you have got your investment back and sleep comes easy at night! Good luck with your investments.