Member Info for StoneyD

hell is going on here???? I do not believe in fairies, is this powered by fairey dust???!!!

This section of the RNS of March says it all, we are due an update this month:- "e Board fully recognises the current adverse sentiment towards the sector and to exploration in particular. We are fully aligned with other shareholders, most of us having personally made large cash investments in the Company. The pre-drill potential of the high-risk prospects drilled in Namibia in 2014 and Kenya in 2015 were validated in both cases by the entry into those blocks of large, well-respected and successful international companies with strong exploration track records, and offered enormous potential upside to shareholders. They were not successful, but we are reviewing the implications of these results for those blocks, where untested targets still remain. With the current devaluation of exploration assets in the market, we are all suffering substantial losses and discounts to asset values. However, we also know that exploration is a long-term activity and rarely lacks painful moments. We will continue to work our way through this downturn to achieve success. We have been through cycles before, and we are confident that the sector sentiment will change in due course. This is a time of especially rapid change and volatility, which we think has, led to a short-term undervaluation of exploration assets. We are very alive to the opportunities for consolidation, as well as the attractiveness of building a wider low-cost, low-commitment, high-impact exploration portfolio at this time. Our team has already proved its deal-making abilities and I believe these will allow our company to deliver a better outcome for shareholders looking forward. We set out below an update on our activities in advance of annual results, which we expect to publish in early May. They though they were on a winner but it didnt happen as we all know, however it will be interesting to hear what their next move after having been very soundly thrashed by AIM for failure. Possible a farm in with Repsol to re activate shallow drill old oil fields?? They cant sit around sucking their thumbs forever!

If its any comfort, the directors have lost a serious packet of cash as well for instance just picking one :- Peter Blakey at 1.1p held 98,296,882. When it was at 6p work out his loss, my calculator cant cope with it. Thats about the only comfort I have and will put these in the bottom draw for 18 months.

and the Rowan Renaissance drills another duster, history repeating itself, sorry for the guys who put their money on it

A sharp rally in Tower Resources (LON:TRP) shares indicates the Africa focussed explorer may have bottomed out. Tower shares had dropped from around 5p in the past year due in part to disappointing exploration results, and broader sector-wide weakness driven by the collapse of crude oil prices. Investors will hope the trading in recent weeks will soon resemble something of a nadir for the AIM quoted share, which peaking at 0.49p earlier today marked a near 400% rally. Tower, in a stock market statement, said it was not aware of any specific new reasons for the movement. The sharp rally shows Tower had been heavily oversold previously, according to one person familiar with the stock, who also suggested that sellers in the market had now been exhausted. That contractors recently agreed to receive payment in shares at 0.66p, a big premium at the time, also suggested the stock’s value may have fallen too far. It is understood the company continues to see support from institutional investors and its core base of shareholders. Tower’s management, as indicated in a recent strategic update, is seeking new deals to optimise the portfolio and reduce costs. Such deals could feature at either asset or corporate level, and could potentially see Tower combined with another group. These corporate activities are, however, said to still be at an early stage.

I cant be out of this over the weekend, but I wish I was!! There is no glow, WTF is it!!!