Keyword results: Sierra Leone

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Insolvency or massive dilution looks the most likely outcome for Block Commodities ( formerly the African Potash fraud)

I thought that April Fool’s Day had come early when I spotted the RNS last week that Block Commodities (BLCC) had raised money to invest in the medicinal cannabis market and had entered into an agreement to buy land in Sierra Leone for this purpose!

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WSG
WSG

Will things be different this time around at Westminster Group?

Westminster Group (WSG) is a company which I once had high hopes for, but in the past it has always been one which has promised the earth but has failed to deliver much of any real substance.

If You Expect Gold to Shine, Here's a Company to Look At

Hello Share Tasters. At the big UK Investor Show, just gone, I confided on the stage that I’d invested in Sula (SULA), a gold and iron company, because I read a piece from Uncle Tom on this tremendous website. This quoted another expert who felt that Sula was a possible ten-bagger in the making.

Stellar Diamonds fools Digital Look with diamond discovery - it should be ashamed

The roll call of shame on today's RNS from Stellar Diamonds: Nomad Cairn Financial (Emma Earl, that name rings a bell), Broker Beaufort Securities (Jon Bellis), joint broker Peterhouse Corporate Finance (Martin Lampshire), Financial Advisers Mirabaud (Rory Scott), Pr St Brides ( Lottie Brocklehurst). The headline is "709 Carat Diamond Discovered in Sierra Leone." Fuck me: where do I buy Stellar shares? These guys have just discovered the 13th biggest diamond in the country's history. Fuck me again - where is my fucking stockbroker? Oh er hang on...

Sula - renews exploration license: our tip 30% up in 2 weeks but more to come

Sula Iron & Gold  (SULA), has announced the renewal of the mineral Exploration Licence held by Sula's 100% owned Sierra Leone subsidiary, Blue Horizon Limited, covering all of the Company's historic, existing and planned exploration activities and sites, which are all in Sierra Leone. 

GSR
GSR

Golden Saint – Licence Renewal….in two weeks

AIM-listed POS Golden Saint Resources (GSR) has announced that it I to renew its three exploration licences in Sierra Leone and that it will be making arrangements to pay the fees over the course of the next two weeks. But the detail of the RNS reveals just how desperate the company was for cash at the back end of 2015, and seems to suggest also that there wasn’t exactly a queue around the block outside the Sierra Leone National Minerals Agency to compete for these obviously highly prospective plots.

UPDATED - Sula: stock flippers make hay, shareholders get slaughtered

This morning, Sula Iron & Gold (SULA) delivered one of the limpest imaginable excuses for a deeply discounted placement. Apparently the company has signed an NDA with a Tier 1 international gold producer, which is going to send one of its staff monkeys to observe drilling at Sula’s Ferensola gold project in November. This is why Sula has slaughtered its shareholders this morning, to raise £500,000 before expenses at 0.3p (an all time low for the share price, 40% below yesterday’s close). It is most definitely not to keep the PLC lights on and cover its c.£1.65million in annual admin costs.

GSR
GSR

Golden Saint Resources; the worst pre-placing ramp ever?

As soon as a company starts pumping the propaganda on Director’s Talk you know what’s coming. This morning, AIM pig dog Golden Saint Resources (GSR) published an entertainingly inept corporate video. If you have eight minutes to kill this lunchtime it is worth a watch. You will quickly become a pointless trivia expert on the climate of Sierra Leone and Executive Chairman Cyril D’Silva’s bizarre way of describing years by using each individual number. You will learn next to nothing about the company or its projects. A cynic might suggest this is because there isn’t much worthwhile to say about either…

Stellar Diamonds a speculative punt on diamond market recovery

Shares in West Africa-focused Stellar Diamonds (STEL) may have lost nearly 98% of its AIM value since floating at 20p eight years ago. But chief executive Karl Smithson hopes to overcome market scepticism as the company moves to follow a positive new preliminary economic assessment of its flagship 1.45 million-carat Tongo kimberlite project in Sierra Leone with a full mining licence application.

‘Optimism’ at Sula after interim loss increases

Nick Warrell, chief executive officer of West Africa-focused Sula Iron & Gold (SULA), declares the company ‘looks forward to the remainder of 2015 with optimism’, after losses up 30% to £890,000 in the six months to March, amid encouraging exploration indications for coltan (tantalite), as it awaits gold trenching results from its Ferensola project in Sierra Leone. Sula, which floated on AIM three years ago at 6p and lost a reduced £1.4 million in the year to last September, has seen its shares wither to 1.5p, between a 12-month high of 2.9p and a 0.8p low, amid gloomy iron ore and gold markets, but Warrell, a former Welsh gold mine owner and an honorary Paramount Chief of the local Dinga tribe, insists ‘the company remains on track.’

AMI
AMI

Exclusive: African Minerals; another shameful failure by Jefferies International

How much longer will the London Stock Exchange permit discredited Nomad Jefferies International to cover up the scandalous behaviour of its clients? After enabling IGas Energy’s (IGAS) lying CEO Andrew Austin to disguise his deeply discounted £7,000,000 share sale, it now looks like Jefferies has failed even more catastrophically in its duties to shareholders of African Minerals (AMI).

Christmas cheer from Stellar

Stellar Diamonds (STEL) may have lost 94% of its stockmarket value since floating on AIM in 2007 and its may operate in Guinea and Sierra Leone, the West African states most beset by the ebola virus. But the Romanian-backed company and Karl Smithson, its chief executive officer, have been making determinedly bullish noises over the Christmas period, fired by encouraging trial mining and bulk sampling results and significant resource increases.

Sula Iron and Gold Update – JORC Expectations Exceeded

Further to my recent buy call at 1.8p here based on anticipation of Sula Iron and Gold’s (SULA) long awaited Maiden Resource Estimates for Magnetite and Direct shipping, which was released yesterday.

Buy Sula Iron and Gold

11 months ago, shares in Sula Iron and Gold (SULA) went on a run from 1.3p to 7.75p, an increase of nearly 500%, due to excitement about the potential iron and gold resources at its Ferensola licence in Sierra Leone. Since then, cash has been raised and drilling taking place in order to establish two JORC compliant resources.

Stellar Diamonds sees first Guinea cash flow

The West African state of Guinea may be at the centre of the deadly ebola epidemic and shares in regional gem explorer Stellar Diamonds (STEL) may have fallen 94% since their 2007 AIM float. But chairman Lord Daresbury sounds optimistic about the company’s ‘near-term objective to become a significant diamond producer in the West African region…at a time when the outlook for rough diamond prices is positive.’

Romanian group hoists Stellar Diamonds stake

Foradex, the Romanian exploration services group that is already the largest shareholder in West Africa-focused Stellar Diamonds (STEL), has invested another £396,180 in the company at an above-market (though depressed) 1.55p. The money, topped up with warrants for half as much again by next April, will enable Stellar to buy Foradex earth-moving equipment for its gem projects at Baoule in Guinea and Tongo in Sierra Leone.

AMI
AMI

Ebola, the tipping point & a question about African Minerals

Eric Sprott is the best known name in resource investing. His latest comments are on the subject of Ebola and are utterly terrifying. They are a terrifying at a human level. If however you own shares in certain mining companies you should be double terrified. Yes, I hark back to African Minerals (AMI).

Crash

AIM stocks at risk from the Ebola outbreak

The lack of market response to the Ebola outbreak in West Africa is surprising. Although the virus itself will probably be contained, the prospect of strict limitations on the movement of people and goods to and from the region looks like a very real risk. Last night, British Airways announced it had suspended flights to Sierra Leone and Liberia until the end of August as a precaution. It is possible other airlines will follow, but if the disease continues to spread how much longer will it be before more far reaching official bans on travel are imposed?

AMA
AMA

Transformation drives on at Amara Mining

Not many mining shares at present have doubled from their 12-month lows, but one that has is West African gold play Amara Mining (AMA). Last year it boosted its estimated gold resource at Yaoure in Cote d’Ivoire from 200,000 oz. to more than six million oz. and expects soon to shift more of the 5.5 million oz. which is now in the mining industry’s tentative ‘inferred’ category into the firmer ‘measured and indicated’ classification. AIM-quoted Amara, which raised £22 million in May at 17p, is engaged in a £10 million 80,000-metre drill campaign, one of the largest ever in Africa. This is to fill in gaps left by previous efforts, upgrade the resource at Yaoure, which currently averages a modest 1.4grams of gold per tonne of ore, and, suggests executive chairman John McGloin, possibly add another 500,000 to one million oz. to the project’s resource.

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