Better carry on here Cynic....not in yet but very interesting....how's that bridge across to China getting on ?

A projects update from Anglo-Russian mineral resources developer Aricom raised funding issues, according to Citigroup.

In a statement, Jay Hambro, Aricom CEO, said 'Aricom has succeeded in proving the viability of K&S and Garinskoye in a number of scenarios and has also had the analysis independently reviewed.'

'The funding process now begins in earnest as we progress discussions to the next step with the banks, contractors and other partners,' Hambro adds.

'We have had a number of preliminary finance discussions and I believe that, with our bankable feasibility studies confirming the strength of these projects, we can move the financing process forward with confidence,' the Aricom CEO said.

'In the short term, further solutions for reducing development plans in line with available capital are being considered,' he adds.

In reaction, Citigroup says it sees 'significant value in the projects if they can be executed, however, they will require around $1bn in funding so current credit environment presents a serious risk of project delay.'

The broker says it repeats its 'hold' rating on Aricom as the share price has now fallen below the company's net cash position of 19p a share so it thinks the stock should see support here.

Also being in Russia is not the ideal location.Anyone for Russian roulette?

Three Directors buying today at approx 0.177 per share.

Good news

Harry,please elicidate!!!!!!!!!!!

JAY HAMBRO purchase 110,000 shares @ 0.177052 09/10/08
YURI MAKAROV purchase 110,000 shares @ 0.177052 09/10/08
BRIAN EGAN purchase 107,622 shares @ 0.1858 09/10/08

at 13p Ore's market cap is less than cash in the bank!!!!

Crazy, crazy, crazy.

There are many like this....those with cash could mint it !, but the question is when ?.

Rf
i have cash, only because i sold quite some time ago.
i changed my paper profits into real profits.ie. cash sitting safely in my bank account.
lol what am i saying?
stop losses did it.
regards
jkd

Thanks jkd....you sound like a wise old owl...in future I wll have strict stop losses....in the meantime...I could do with an oil price recovery !.

No, oil price rises will only lead to rising inflation and more job losses.

Surely a huge rise must be on the cards here!The drop of is now over90%,and falling today despite a lot of buying.

19p was the last price I saw considered to be fair value.
Also looks like they are possibly having financing problems.

9.9p...doesn't look at all good...it's becoming a junk share.

j
toxic seems to be the new in word, but maybe junk is more appropriate.
at least with junk the rampers can keep up their games of pass the parcel.
selling into contrived ramped spikes.
maybe toxic is safer lol.
just to put the record straight. when i mentioned earlier that i sold out quite some time ago i was was speaking generally, not specifically,
as i have never been a holder of this share
regards to all.
jkd

ORE is less than 8p now.

the share price has now fallen below the company's net cash position of 19p a share. Does this mean if the co. went bust tomorrow you would [eventually ] get 19p per share?

I like the potential for this share once China's industry restarts after the credit crunch.
I am just trying to decide what is a good price to get in at. I am not in any great hurry as they have to raise a large sum of money first, which in this climate may prove difficult. On the other hand I dont want to miss the boat[wish I had hindsight]
Alex

Might find foresight would be more usefull! ;o)

HC
alas unfortunately a lot more difficult to find :(
Alex