african minerals appears to be upping its stake - possible takeover / offer?

i really don't know ..... thanks to Number2 Son, i was in ..... i subsequently sold out (he didn't; silly boy not to bank any profits, as i told him) and later bought back

i am currently undecided what should be my next move - it won't be to buy more at this juncture

At approx 40p / share per 100mt FE in the ground (based on industry averages), the following is quite possible, based on drill results and RNS's to date. Based on the programme of works this year:

May, June, July - Massamba group Trend Jorc expected - 300mt
August - Tenge/ Ruoni, after yesterdays news - 300mt
October - Singore - 100mt

Thats an estimated Jorc'd resource of 700mt by October, or 2.80 / share before dilution.

That doesn't include the resource at Monte Muande or the other resources such as copper (drilling to be commenced in July), gold, coal phosphates etc.

excuse me for asking, but aren't goodies in the ground pretty much worthless until you get the damn stuff out?

cynic does that apply to the likes of RKH as well?

Cynic,

If they are worthless we are currently overvalued by 43p.

All other exploration co's are worth nowt also.

Stop being silly!

The valuation I gave above is based on the industry average for resource in the ground.

yes hali, that is what logic would dictate, but a "hope" element has a perceived value and yes, i do still hold RKH though not without misgivings

with regard to BAO, its rise has been exponential and it is also an MM only stock, albeit that there are perhaps a dozen of them ...... common sense tells me that (significant?) profit taking is far from unlikely, not least because we are now within a day or two of fiscal y/e ...... with that in mind, i have just banked a(nother) good profit, but retained a full (100%) holding at cost

PS - do you remember SOLG, a similar rocket of just a few months back?

timed that one wrong! ..... ah well, better profit banked than lost and still plenty in the portfolio

Cynic i know you took a profit which iam not knocking but O U C H ! ! ! I always think some shares are for trading and some are long term holds. And this is a long term hold imvho. I bet no2 son has a big smile on his face. gltu

he does he does and hope it stays that way for him ..... i don't really regret cashing in a some chips as was quite overweight .... as it is, i still have 100% stake at cost and that is showing a decent profit, so why should i complain? ...... just think, you could have been buying EOG!

Just had to take some profits here this morning.....might be a mistake....still hold some.....

i have so often said, it CANNOT be a mistake to bank prudent profits..... as i said above, you could have been holding EOG

I was but sold out around if I remember correctly 36 to 38p.....at the moment it looks like I sold some BAO too soon....but then again if it dropped back to the midforties I would have cursed.....by the way, EK is shorting this and must be at a bad loss so far...

i have sold a further lump at 53.75, as it is looking very frothy to me

I fear a spike as well, before pulling back.....

the only way is up imvho. So much news to come here this year. Bit like are afren `transformational`

Bought some kefi today 8-)

Looks like were gonna see 60p next couple of days or sooner 8-)

There has to be a top.....I have sold out......I just think that a sharp pullback has to come and can't monitor it all the time.....5 bagger this one....will come back later...

boiled over at last! ....... further clinking, clanking sounds tomorrow would be my guess

looks like you were spot on RF.