Yummy .....8-)
Yet again I have been given the opportunity to top up. The frustrating thing is that I do not have more funds readily available.
On the plus side we are expecting an Ops update later this month (RNS dated 22 Jan 13).
http://www.africaneagle.co.uk/news-article.asp?nid=1671920.xml&xml=http://cws.huginonline.com/A/139385/PR/201301/1671920.xml
Prior test work performed in 2012 indicated that the leach behaviour of beneficiated FeSi ore from Wamangola is generally superior to that of RoM ore. As a means of confirmation, a further metallurgical programme has been undertaken to confirm the leach response of the beneficiated ores. This test programme is nearing completion and the results are expected to be announced during Q1 2013.
Have my own thoughts on this one. Its getting near the end of the tax year so possibly balancing their books.
Big danger is that they offload their remaining 20M shares.
Possible, but with good news around the corner (AFE updates due in March) they may be a tadge too early.
So Vestra sold approximately 1/3 of its holdings (10M).
That would tally with my figures.
I also think that most of the 10M have now been re-bought.
Overhang, a couple of million perhaps?
Timely RNS's with updates are the key now.
Changing tack slightly, the SP is due for another tick up soon (if the large overhang of shares has now been cleared). There has been a great deal of support around the 2p range which gives me comfort. Many PI's seem to have topped up at this price (including myself). Still no RNS so I am assuming that it was a small PI who sold the millions and not a bigger, stronger II.
Final Results:
http://www.investegate.co.uk/Article.aspx?id=201006230700090714O
Highlights:
• Revenues up 22% to RMB 192 million (2009: RMB 157 million)
• Gross profit up 28% to RMB 99 million (2009: RMB 77 million)
• Net profit up 53% to RMB 31 million (2009: RMB 20 million)
• Revenue from high margin software of RMB 17 million (2009: RMB 14 million)
• Cash position of RMB 73 million at year end (2009: RMB 85 million)
• Dividend of 0.84p per share (2009: 0.50p per share)
Comments please .............................