take a look at gma rns out today

Not sure what impact this is going to have on the sp in the short term

GMA Resources PLC
24 May 2007

24 May 2007 AIM: GMA

GMA Resources Plc
('GMA' or 'the Company')

Issue of Convertible Loan Stock

GMA Resources Plc announces that it has concluded the raising of 5,700,000
through the issue of 5,700,000 nominal of 10 % unsecured convertible loan stock
2009 (the 'Loan Stock') .

Terms of the Issue

The conversion rate for the issue will be 15 pence nominal of loan stock per
Ordinary Share of 1 pence each in the Company subject to the conditions set out
below.

The option to convert shall be conditional on the passing of special resolutions
at the Company's 2007 AGM (or an extraordinary general meeting convened
immediately thereafter) (the 'Meeting'), authorising the allotment of Ordinary
Shares pursuant to the conversion rights for the purposes of sections 80 and 95
of the Companies Act 1985 (as amended). Should such resolutions not be approved
then the rate of interest of the loan stock shall be increased from the date of
the Company's 2007 AGM to 20% per annum.

The right to convert Loan Stock into Ordinary Shares may be exercised by the
holders of Loan Stock from the date of the Meeting until 30 June 2009 whereupon
any outstanding Loan Stock will be redeemed in the principal amount thereof
together with all accrued unpaid interest.

At any point following 24 May 2008 and if;

a) the mid market price of Ordinary Shares in the Company has been above 30
pence for 30 consecutive business days; and

b) for as long as the mid market price of Ordinary Shares in the Company
continues to exceed 30 pence,

the Company shall have the right to convert, on the basis of 21 days notice to
outstanding loan stock holders, all or part of the outstanding loan stock from
this issue. This option is also conditional on the resolutions mentioned above.

At any point, should over 75% of the initial loan stock have been converted, the
Company shall have the right to convert, on the basis of not less than 40 and
not more than 60 days' notice to outstanding loan stock holders, all the
outstanding loan stock from this issue. This option is also conditional on the
resolutions mentioned above.

Interest on the loan stock shall be paid on a six-monthly basis in arrears, with
the first payment to be made on 31 December 2007.

Use of Proceeds

The proceeds of the convertible loan will be used to complete the construction
of the current Tirek / Amesmessa capital projects in southern Algeria, fund
further exploration expenditures and to provide the Company with additional
working capital.

Douglas Perkins, CEO of GMA, commented:

'Construction and development work is still moving along apace at the Amessmessa
and Tirek projects, although, as experienced by many mining construction
projects today, we have had supplier delivery delays and some expenditure
increases as we progress through this phase. Further to the delays disclosed in
the announcement 31 January 2007, the directors subsequently revised the
Company's construction schedule and we are now confident that with this funding
we will be able to complete the projects in 2007. Concurrently, we are looking
at other exploration targets within Algeria and outside in order to continue to
increase our gold resources and we look forward to reporting on our progress
with this in the near future.'

News update, click here

Interesting RNS today. Do Proactive Investors still cover this stock?

seems undervalued to me compared to the other small goldminers, this could soar imo dyor of course

starting to move up nicely...

Indeed it is. Just the beginning too.

just the beginning indeed!

Exploration results any time now. I bet they're interesting.

Low grade rubbish found imho.
Wouldnt touch them with a barge pole

mine still struggling, so assume production still around 2000oz/mth which wouldn't be profitable so I am out

Not Good.

Well I opted into these earlier today. Didnt get the whole 140% rise but didnt do to bad. Could be a very nice opportunity here for a day trade or two!!

Should be interesting tomorrow.

I still hold as of this afternoon (Stop loss adjusted to assure profit)

Off its highs now.

Just started to buy again.

15:53 GMA Resources PLC - Stmnt re Share Price Movement RNS
RNS Number : 7969C
GMA Resources PLC
04 May 2012

AIM: GMA
4 May 2012




GMA Resources plc

("GMA" or the "Company")



Statement Re. Share Price Movement



The board of directors of GMA note the recent movement in the Company's share price and confirms that it knows of no reason for this movement.



In the announcement issued on 17 April 2012, the Company stated that as of 31 March 2012, the Company had £63,000 of cash. The Company is continuing to evaluate several acquisition opportunities but has not signed heads of terms with any party. The Directors are continuing to seek to conserve cash as long as possible, but if the Board is unable to agree on a suitable acquisition in the short term, the Board will seek to place the Company in the hands of the Administrators to complete an orderly winding up of the Company before the Company exhausts its cash reserves.



As announced on 25 January 2012, the Company currently has 618,002,894 Ordinary Shares in issue and there is, in aggregate, £5.5 million of unsecured convertible loan stock which, together with accrued interest, is repayable in full on 31 December 2012, if not converted before that date. Conversion is at the option of the holder at any time prior to 31 December 2012. The conversion price on the loan notes is between 2.25p and 5p.



A further announcement will be made in due course.



Enquiries:



GMA Resources Plc


Ken Crichton
+20 (0)10766 6118

Merchant Securities Limited
David Worlidge/Virginia Bull
+44 (0) 20 7628 2200

What did I do after reading about the forthcoming consolidation - SOLD - what happened then - they almost trebled from what I purchased them for - Holy cow I cannot get anything right. The name of the game, think I should retire from all of this haha!!