Member Info for poiu

Having read the previous posts i too am confused. I am in the UK, investing on AIM with FOG, are you saying i have an additional tax to pay if taking a profit when selling FOG shares. ?

Voter support now for Govt to backpedal, very good news.

It all goes to show that they are now clearing up the administration of SMA. These shares they bought are small fry for them, as saintpeter says, Tracarta is the vehicle through which Clarke and others connected to him buy shares. I guess it probably has advisors to give the maximum tax protection etc. For sure they will have to change the name of Sovereign, they will need to reflect the new companies aims, and then they will need to set up the administrative structure within the new entity, this should be greatly helped by the fact they are listed on AIM as firstly they wont have to start from scratch, but also they wont have so much to deal with the Indian authorities who love RED TAPE.....oh gosh how they love red tape. This is where being the captain of the ECB will help out as Giles Clarke is bound to have some really top contacts in India who will help him to cut through some of the time wasting. The whole set up looks just so good, numbers in India have so many 00000000s on the end it makes your mouth water.

This guy Clarke is the one who has opened an pipeline in one of the worlds most dangerous areas, negotiated it with two countries, built it, managed it, got it working and is now using it to make huge profits out of it at AMER. He certainly isnt a quitter.

So more money in the pot, an idea clearly germinating, three time proved players in business, and retail roll-out of shops is something clarke has done before making absolutely huge amounts of money. I wonder if they are intending to sell a product, not just manufacture it. this is getting to be really interesting.

Post year end the Company has sold a total of 1,533,989 of its equity shares in Volcanic. The average share price for the sales is CAD$0.43, resulting in total consideration, net of commission, of GBP402,640.

Me checking too, every day, Clarke will probably do something soon as India is a huge country with massive towns a population off the scale and they love cricket and education.....both subjects Clarke has involved himself in on a regular basis.

He has followed Giles Clarke and related companies for a long time and has a lot of info.

There is very good information at Mike Walters site on Sovereign Mines which may help get a perspective

.

the post you refer to is still up on ADVFN, i believe it to be true

Excellent podcast on now with Justin Waite.....17 minutes 56 seconds...really good stuff Also excellent Mike Walters report out today on FAM, very very upbeat

I have lifted this from a respected poster on ADVFN. This was 5 months ago and the results are now due very shortly, by mid March or sooner. So just a month or less. As a result of the 2016 fieldwork, the Company has confirmed the two core target areas that will become the focus with respect to future studies. These are: -- Moriusaq Bay and surrounding area, a low-medium tonnage target that encapsulates the bay and proximal active and raised beaches with grades in some areas estimated to be in excess of 85% ilmenite; and -- Interlak, an area dominated by huge deltaic deposits with associated adjacent high grade beaches (see Figure 1 in PDF link) with grades in some areas estimated to be in excess of 70% ilmenite occurring as thick sedimentary bands. On the active and raised beaches, a total of 260 auger holes and trenches were sampled during 2016. Additional trenches were completed for metallurgical sampling purposes as well as stratigraphic mapping purposes, creating a bulk metallurgical sample in excess of 500kg. This sample has been sent to Perth, Australia where analysis of the sample will be undertaken to continue to optimise the mineral beneficiation process. Figure 1: Locations of various work programmes during the Pituffik 2016 field season - See PDF link Moriusaq Bay has consistently returned the highest grades of ilmenite to date (average of more than 35% ilmenite) over the bay area whereas Interlak offers a very large volume target also with high grade areas. The majority of the ilmenite occurrences at Pituffik are derived via the winnowing of the deltaic sediments by wind, wave and current action with the broader Interlak catchment area interpreted as being the main feeder zone for the Pituffik project area. Of significance, a new area east of the Interlak delta has returned potentially the highest-grade estimations from the entire project area to date at more than 90% ilmenite. Figure 2 (see PDF link) shows thick layers of ilmenite rich sands from this area. There is potential for significant amounts of ilmenite at this location. As a result, the Company expanded the work programme at this target and delivered a further 26 trenches averaging >1m deep to test as much of the area as time allowed with similar high grade results achieved in most trenches. Figure 2: Ilmenite accumulations in trench east of Interlak delta, thick layers of black sands are ilmenite rich material - See PDF link On the drowned beaches a total of 240 samples were taken from both the larger vibracore on the MV Kisaq vessel as well as the smaller pontoon unit. Vibrocoring is a technique for collecting core samples in shallow water environments and wetland soils. Vibracore sampling was conducted to the north and the south of the Interlak delta over more than 6km of coastline by both the Kisaq (see Figure 3 in PDF link) and pontoon deployed vibracore units. A series of scout holes were also placed further east in a depress