Ocean Resources Capital Share Discussion Threads

[vassily] 02/2/2006 05:57

Articles about Archipelgo. Sample article below.

I cannot vouch for its accuracy/authenticity. DYOR.
V

[vassily] 01/2/2006 12:25

GS:
Thx. for the prediciton. I think you will be about right. Yeah, Scorpio up at 0.90c$ now and has been rising for weeks as the silver price has risen. Bralorne end of month price was c$1.95, a reasonable premium on the warrants. Perhaps more rise to come from Bralorne though.
I wonder how much volume will occur should the 33p come to fruition? I wonder is OCE worth a few more of my pounds. I am not confident of a closure of the gap between NAV and price due to your comments on AR. and RHEP.

[giant steps] 01/2/2006 09:29

Vassily - here are some jottings for estimating Jan NAV

Using mid-prices -

Bralorne rises c$0.5 from 1.3 to 1.8, $0.5m x 1.5m = c$0.75m = £0.35m

RHEP rises 2p from 10 to 12, £0.02 x 32m = £0.64m

AR. rises 9p from 32 to 41, £0.09 x 33m = £2.97m


From Bralorne, RHEP and AR. totals £3.96m i.e 4.4p


Worth noting c$ warrants booked value NIL now in the money

Bralorne 750,934 wrts cnv c$0,50
Scorpio 800,000 wrts cnv c$0,60


So my 'bold' January NAV estimate is above 33p (was 28.30p)

[vassily] 01/2/2006 05:41

GS:
Yeah. Bralorne up 95% in two months. Not bad. I feel that OCE will be undervalued at current price come the next NAV in Feb. More good news from RHEP would also be good. They seem to give out very few announcements. Maybe, that is a good sign.

[vassily] 31/1/2006 03:53

GS:
Just hope OCE management don't start to sell off some of OCE's assets right now. There is much talk that gold and other metals will rise further as the rapid inflation that has occurred takes its toll and other factors such as low supply/high demand continue to be important.

[giant steps] 30/1/2006 19:04

Vassily - yes, looks good re Zedex

OCE getting a good January Close with Bralorne

[vassily] 27/1/2006 04:29

If OCE owns a portion of Zedex then Zedex's 17.5% stake in Olympus (OYM.v) might be a further benefit to Zedex (and OCE) with the news that follows:

V

[vassily] 27/1/2006 03:37

And it's all gone quiet again, despite the fact that for OCE a greater than 30p NAV for January 2006 now looks very likely. With OCE's track record, however, I am not surprised at the lack of activity.
Good to see Bralorne and TerraNovaGold on the rise again as well as further interest in Rheochem and of course AR.

[giant steps] 23/1/2006 13:11

OCE screen prices bid 20p offer 23p

Observe AR. advancing in deserved re-rating, now bid 41p offer 45p

Edit 13:15 Archipelago bid 42p offer 47p

[vassily] 23/1/2006 10:44

AR. up a 1/2p. A few people also bought into OCE this morning. Have a few more people caught gold fever?
GS: Thanks for the additional info. I am not sure Zedex is now the controlling shareholder of Olympus, but their stake remains the same at 17.5%.
It feels odd to write about new purchases when OCE are going to wind up the company in early 2007. Will it be possible for all new investments to reach what OCE judges as maturity by 2007? What happens if they don't?
V

[giant steps] 21/1/2006 15:39

Two listings to watch for -

Zedex Minerals Ltd
Extract from Portfolio Review 11 April 2005

"Zedex is an active gold development company, focused on being a leading
player in SE Asia region. Amongst other assets, the Company is the
controlling shareholder of Canadian listed Olympus Pacific Minerals Inc.,
which will shortly become a gold producer in Vietnam. The Company is
expected to be listed on the London AIM market during 2005."

Note: OCE 17.375m ords (16.4%) value £1.477m 30/6/05

Diamondcorp plc

Extract from Portfolio Review 26 September 2005

"A new investment is Diamondcorp plc, where we have acted as 'seed capital'
shareholder for this new company which will acquire rights to the Lace
Diamond Mine Project in Free State, South Africa. Lace is a past producer
and recent scoping studies hightlight an immediate production scenario. It
is expected that the company will raise development capital through an IPO
and London AIM listing in the new year."

[giant steps] 20/1/2006 14:52

jambo172 - do you know they have been selling Terra Nova or just guessing ?

OCE website would be better with one static page than out-of-date portfolio


As for BDI Mining, the report 26 Sept 2005 notes

"Trading activity has seen the total disposal of the holding in
BDI Mining Corporation, as the company has successfully completed
the transition from development to production"

[giant steps] 20/1/2006 14:20

OCE screen prices bid 20p offer 23p, published volume @ 14:15 5K / 1 trade

Will not be surprised to see AR improve at least +20p this yr, min 50%

For OCE this could add equivalent of min +6p

[giant steps] 20/1/2006 12:23

Looks like AR. is not the forgotten 160Koz/annum producer to be in 2006 !
(price 38p offer 41p, notice 40K @ 41p just published)

Here's the comment from 26th Sept 2005
Extract -

"While disappointed by Archipelago Resources' recent share price performance,
we remain convinced of the underlying value in this investment, which should
be significantly re-rated later next year, as the Company completes the
transition from explorer to developer to gold producer"

[vassily] 20/1/2006 11:25

GS:
I watch these two, though TNG had a bit of a setback with a project recently. It was abandonded. Even so, the share price has moved up recently.

[giant steps] 20/1/2006 10:56

Another one to watch -

OCE hold 1.5m ords in Canadian junior Bralorne-Pioneer Gold Mines

[giant steps] 20/1/2006 10:52

vassily - mostly AR. effect i imagine

Another one to watch -

OCE hold 10.8m ords in Canadian Junior Terra Nova Gold

[vassily] 20/1/2006 10:47

What's this, OCE up 1.25p. The AR. factor perhaps?

[giant steps] 20/1/2006 10:24

AR. @ 10:30 bid 38p offer 41p

[rambutan2] 20/1/2006 10:21

re st barbara, again im sure that mr hutchins got out.

re contacts with shareholders. while pi's have been left in the dark, the hedge funds certainly havent and will be up to date as to what going on.

[giant steps] 20/1/2006 10:16

OCE investment managers statement 26th sept 2005

Extract re OREVEST -

"We have agreed to extend the terms of our convertible note with Orevest plc,
as the company continues to try and resolve its ongoing dispute with the
Bulgarian government concerning its manganese project and we have increasing
confidence that a suitable resolution will be found in the not to distant
future."

[vassily] 20/1/2006 10:09

GS:
Thanks again
V

[giant steps] 20/1/2006 10:00

Orevest - at the end of June 2005 booked value for Orevest £2.3m (cost £3.6m)

[giant steps] 20/1/2006 09:58

Orevest -

Orevest plc ("the Company") is pleased to announce its unaudited results for
the 9 month period to 30 September 2005.

As set out in the Director's June report the Company has been notified in a
letter from the Bulgarian Ministry of Environment and Water that the Company
had won an open competition to submit an exploration proposal covering the
manganese deposit near Balchik on the Black Sea coast of Bulgaria. However the
Company is still waiting for the final contract. This has been delayed by the
appointment of a new government following elections held in August. The Company
is aware that the new minister has not approved any proposals for exploitation
or exploration of resources. Such a delay is immensely frustrating but not
particularly unexpected given the previous experience your Company and others
have had with the Bulgarian government.

The Company has continued discussions about financing the intended project and
on 31 October signed a Memorandum of Understanding with a major Chinese
resource company in which they have offered to provide US$5 million of funding
in return for a 30% stake in the project and have undertaken to enter into an
offtake arrangement for 250,000 tonnes of manganese ore a year, which is half
the planned capacity of the mine

The completion of this contract will be subject to the Company signing the
exploration contract with the ministry.

The Company continues to be involved in negotiations between Rolls Royce and
Promet for the construction of a gas powered power station using a Rolls Royce
RB211 jet engine. The Directors remain confident that this project will go
ahead.

The Company is operating at very low cost. The site in Bulgaria is mothballed
with only a security presence. The Company is in close contact with Ocean
Resources Capital Holdings plc ("Ocean"), who hold a GBP 3.6 million
convertible loan stock in the Company, and are owed accrued interest of GBP
400,000. They have indicated that they will support the Company until the
financing is completed. There are no other creditors. The directors are
accruing any remuneration due to them and, as major shareholders, will loan any
funds needed until the Company is refinanced.