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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Resources It | REI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 311.80 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 311.80 | 311.80 |
| Top Posts |
|---|
Posted at 08/6/2006 16:44 by tuffbet It is said that good investors are capable of changing their minds when circumstances change . This looks like more than a normal market correction to me so following their example I am out until I see where this all settles down - good luck to everyone it might be a very bumpy ride America looks more and more like an economic disaster waiting to happen and it might just be happening right now - I am not hanging around to find out for certain |
Posted at 25/5/2004 08:02 by bionicdog from oil barrel.25.05.2004 Resources Investment Trust Buoyed By Strong Commodity Prices And A Revived Emerald Energy Resources Investment Trust, which invests in undervalued companies in the natural resources sector, has had a good year to date, buoyed by the strength in the commodities markets. Launched in January 2002, when it was listed on the main board of the London Stock Exchange, the company invests in a range of mining and oil stocks, although its natural bias, given its management expertise, is towards hard rock mining. Its main oil investment is London-listed Emerald Energy, which focuses on the oil-rich basins of Colombia and last year emerged from a severe financial mire to drill its first well for several years. "Our largest holding is Emerald which is now performing very well," David Hutchins of RIT told oilbarrel.com. "They have really turned themselves around. It is a very exciting company." RIT recently reduced its holding in Emerald, a reflection of how the company has transformed its fortunes from the dark days of a few years ago when a blow-out at its main producing asset, the Gigante-1a well, damaged its revenues and cash reserves. "Emerald is our largest individual holding and we have a board policy to reduce any holding when it goes above 15 per cent," said Hutchins. "That is prudent fund management and the disposal does not reflect on Emerald; in fact, it is a huge vote of confidence in the management because the company went from not being significant to the most significant asset in the portfolio." Emerald's new management - an all new board was appointed in August 2003 - certainly recognise how the once ailing company has recovered. "In the first half of 2003 the company faced severe cash restraint and an uncertain future," acknowledged chairman Alastair Beardsall at the release of Emerald's full year financials, which showed a profit of US$86,000 versus a loss of US$36 million in 2002. Over the course of 2003, the company raised £6.8 million through a share issue and rights issue, putting it back on track to work its attractive acreage in Colombia. "It was a very positive second half for everyone in Emerald who successfully implemented the first steps to recreate Emerald Energy as an active exploration and production company," said Beardsall. The highlight of the year was the drilling of the company's first well for several years, the Campo Rico-1 well, which tested at 250 barrels per day and which is now being readied to be put into production at an anticipated rate of 750 bpd. At current high oil prices, Campo Rico-1 will make a significant contribution to cash flows for 2004. At least one further well, and possibly two, are planned for this year, bringing the promise of further positive news flow for Emerald's investors. Seismic acquisition is planned for the company's new Fortuna Association Contract and studies are being finalised to identify a location for a second well to complement the 750 bpd Gigante-1a well on the Matambo licence. Gigante 1-a never recovered from the devastating blow-out but production now seems to have stabilised, albeit with the help of regular chemical treatments. Drilling Gigante-2, however, which has been a longstanding goal for the company, would require either a new fundraising effort or finding a farm-in partner. |
Posted at 04/3/2004 12:35 by mangal A very positive write-up today on JIT & REI by citywire:"Hot performance, wide discounts and shrewd investors sniffing about - what more do you want from an investment trust? Citywire shines the light on two funds with a lot going for them." |
Posted at 06/1/2004 15:43 by tuffbet With the world economies clearly now in a recovery phase the demand for commodities is increasing rapidly - in fact I understand there are already supply demand bottlenecks.One of the signs that a Sector has been out of favour is a shortage of Collective funds (if they think they can't sell them they won't launch them and vice versa ) and there are indeed very few options available now for investors who want to increase exposure to the Sector This supply demand imbalance in fund availability should in time ,lead to a positive double whammie for investors in the sector because not only should the NAV increase to reflect any increase in the value of the underlying assets but demand should begin to narrow any discount. As clearly illustrated in the graphs on www.trustnet.co.uk ( how do you put in a clickable link ?)while the NAV is, as one would expect rising nicely - 133.84p today, the discount has not narrowed. It is around 25% on todays prices whereas I would have expected something like 10% or less (see Mercury World Mining). There are two possibilities. Either the dicount represents an anomoly and therefore an opportunity or there is a good reason why the discount is so wide . I know that there are many many occassions where anomolies exist and you see them ,you hesitate because you like the comfort of investing when others seem to confirm your view and do the same whereas in practice you should do just the opposite ie buy the opportunity and wait for others to follow. I have already bought and am prepared to be patient but because I see the manufacturing figures from the States picking up so well and big resource users like China and India pushing up GDP numbers I want some more investment in Commodities . Does anyone on this thread have a view on why the discount has, so far, stayed so stubbornly wide. ? |
Posted at 16/8/2003 09:58 by hypocrite I agree......Robbie is pretty interesting for the small cap investor!!XXXXXXXXXXXXXXXXXXXX Friday 15th August I've used up the last of the cash I have available in another buy today! The buy is (unusually for me) an investment trust - Resources IT (REI). I bought some for the pension 4,500 at 76.5 and some for the isa - 6,000 at 77. For web purposes we'll call it 6,000 at 77. Stop loss 65, target 105. I've bought for a few reasons. By the way for those of you who don't know about investment trusts, it's just like a fund that buys into certain areas of the market. Its shares are traded just like normal shares. The trust has a great website www.rei-trust.com which I've enjoyed reading. The trust invests in what it believes are undervalued companies in the natural resources sector, top holdings include Caledonian Mining, Celtic Resources, GTL Resources, Jubilee Platinum among others. This buy will give me a little exposure to some AIM stocks that normally I can't buy, also gold - which could go well if the market drops - as well as mining. The company issues a statement every day giving its net asset value which today is just over £1 - so at 77p it stands at a nice discount. Also the NAV is going up quite nicely right now. So although risky, with often a wide spread this trust - unlike other slow movers - could increase in value quickly. Robbie Burns |
Posted at 17/7/2003 18:18 by energyi About Resource Capital Funds The Resource Capital Funds are private equity funds with mandates to make investments in development and growth stage mining companies across a diversified range of commodities. The Funds generally finance junior mining companies with projects at the scoping study/pre-feasibilit Transactions are normally structured as debt with equity rights, although the Funds can make direct equity investments in certain circumstances. The Funds are offering their investors potentially high-return investments that are often secured against quality assets. All investment decisions are based upon technical and financial merits while potential future exit strategies are analyzed at the outset. Resource Capital Fund L.P. is a US$41.2 million dollar fund that is now fully invested. Resource Capital Fund II L.P. completed its final closing in June 2001 with committed capital of $82 million. The Funds are managed by RCF Management, L.L.C., which has its principal office in Denver, Colorado and an additional office in Perth, Australia. RCF website: |
Posted at 05/2/2003 11:43 by hypocrite You've all heard I'm sure about Arcon and Ivernia West, the Irish zincmines. They share the Irish discoveries with Anglo....major stakeholder in Ivernia West......delisted from Dublin exchange to Toronto...........ow Arcon....see Sunday Times article.....since when the minlife has been doubled and the quality of zinc regraded to world's highest (from 12.something to 28) and rumour that they will quantify amount of silver discovered in same Galmoy orebody.Generally agreed undervalued...waitin Tara Mines.....producing mine for Outokumpu outside Dublin for last 25 years. Other pockets not yet working mines...bula, navan, ennex, minmet etc. Consolidation looks to be on the cards, Sort of thought that a company like REI would have an interest in this Irish sector.....maybe zinc is not it's bag??????????? Any comment??? XXXXXXXXXXXXXXXXXXXX The Sunday Times - Business December 15, 2002 Sharewatch: Zinc price makes Arcon a real punt Renewed global industrial production could trigger an increase in demand for the metal, says Brendan McGrath ANYBODY with less than fond memories of Atlantic Resources, Tony O’Reilly’ Given the number of people who got burned in the Atlantic fiasco back in the 1980s, it is hard to blame investors for steering clear of resource shares. The Irish exploration market is littered with the remnants of shooting stars. Last week’s crash at Navan Mining and the previous week’s delisting of Bula Resources serve to underline the scale of losses incurred by investors in recent years. However, there is still a case to be made for small exploration companies, purely on the basis of their speculative appeal. Arcon, which has just endured a roller-coaster 12 months, falls into that category. Arcon’s main asset is the Galmoy zinc-lead mine in Kilkenny, and various exploration licences in the vicinity of the mine. Galmoy was brought into production in 1997 with a planned 10-year life span. Galmoy’s biggest problem is the price of zinc on world markets. At just over $800 (€788) a tonne, the zinc price is at a 60-year low, although there are tentative indications that renewed growth in global industrial production in 2003 and 2004 will trigger a rise in demand for the metal. If the price of zinc rises in line with an economic upturn, then the prospects for Galmoy improve immeasurably as recent financial and exploration developments mean that Arcon’s finances are finally in order. In addition, recent exploration results nearby suggest that the life of the mine could be extended well beyond the remaining five-year production schedule. Arcon’s crippling $100m-plus debt has been reduced after a restructuring this year which, inter alia, resulted in O’Reilly increasing his stake in the company to more than 71% after underwriting a €28m rights issue. O’Reilly also bought most of the debt from the banks, who swapped the rest of this debt for a 10% equity stake in Arcon. If that restructuring hadn’t taken place, Arcon was in real danger of going out of business or being taken over by the banks. Now Arcon’s only debt is the $20m owed to shareholder O’Reilly, and he is unlikely to make heavy demands on a company into which he is estimated to have pumped more than €100m. Outlook: The key to Arcon’s future is the price it gets for its zinc over the next few years. Some observers believe that the industry globally needs to cut production further before there is any prospect of a sustained improvement in prices. Others point to the decision by Outokumpu to reopen the Tara mine as a sign that a recovery is in the offing and that Galmoy will boost production as prices improve. Verdict: Investing in Arcon requires a great deal of faith in a zinc recovery. The company’s shares have doubled from 2c to 4c in the past few weeks as investors priced in the improved outlook, but further growth will depend on a sustained improvement in the zinc price. Worth a punt — but only if your nerves can cope with what remains a very speculative investment. Factfile Price: 4c Market value: €63m Daily volume: 556,000 Share price performance: no change since 31/12/01; -75% since 31/12/00 Major shareholders: Sir Anthony O’Reilly 71.7% EPS consensus: 31/12/02 -0.5c; 31/12/03 2c Prospective p/e: not applicable Risk grade: n/a Risk ranking: n/a Website: www.arcon.ie |
Posted at 05/2/2003 10:03 by karzy Thistle up 32% last night on TSE, should help with NAV today.Beartooth might improve when it gets to drill a hole.Cal has a big following on kitco.Energyi says rei are holding an investors meeting this month sowe might get a pickup from that |
Posted at 13/1/2003 11:00 by energyi the annual launch???January 13, 2003 Ocean Resources Will Break New Ground By Offering Exposure To Junior Resource Companies While Paying a Dividend. Good news. The team that conceived Resources Investment Trust which listed in London early last year is now about to give birth to a new specialist resource investment company called Ocean Resources Capital Holdings. It will not be an investment trust this time as the management wants to break free of the confines that investment trust status brings with it. Thus as an AIM listed company on the lines of the old fashioned mining finance house it will be able to make acquisitions and take a hand in the management of the companies in which it invests. Most important for investors, it will pay a dividend. The means adopted to ensure this ability is that it is investing in convertible stocks with a 10 or 12 per cent coupon issued by the companies with which it gets involved. The companies, oil as well as mining, benefit from being provided with vital mezzanine finance, while Ocean Resources will be in a position to offer a yield of 6 per cent to investors. This will bring in the institutions who are so often prevented from investing in junior resource stocks because of the lack of income and marketability. . Naturally this means that the companies in its portfolio are in production, or only a heart beat away, so that cash flow is being generated to pay the coupon. The shares in Ocean Resources can, therefore, also give institutions the opportunity to obtain exposure to smaller resource stocks when they are still at the pre-IPO stage. Already deals worth getting on for £40 million have been agreed with companies to swap shares in Ocean Resources for their convertibles. The shares issued to the companies in return for these convertibles can then be placed with willing institutions, providing vital cash for development of their projects or for further expansion and exploration. Ocean Resources intends to take anything from 10 to 40 per cent interests in the companies in which it invests, based on the convertible terms of the stocks.. The rechnical advisers are Resource Advisory Partnerships headed by Michael Smith of Investec, and previously JCI and Anglo American, and Anthony Ogilvie Thompson who will be looking for an internal rate of return from projects of around 40 per cent . At first sight this looks pretty ambitious, but given the present price of gold it is merely demanding as many of the projects are likely to be gold or gold equivalent. And the fact that it is able to invest before companies list means that when the value of such an investment rises by, say, 20 per cent at listing, this will be reflected in the price of the convertible. The intention is to go for a compliance listing at the end of January on AIM, raising only around £200,000 to cover costs. The shares are expected to start listing at 50 p each with a piggy back option arrangement and the appetite of the institutions for the stock with its yield and underlying potential for incremental growth has already been tested..The fledgling company has already done several deals with companies and this means that investors in Ocean Resources will participate in some deals struck at the end of last year when the price of gold was a bit lower. More will be heard of the company as its advances towards its listing, but the other point worth making is that it will drill into these juniors the need to pay dividends. This will come as something of a shock to many established mining companies, even one as large as Kinross Gold which still sticks to the old adage that investors have to make their income out of capital growth as all surplus cash is required for exploration. Ocean Resources is therefore breaking new ground and is to be commended. In so doing it will help revive the attention paid by generalist funds to the resource sector. |
Posted at 15/12/2002 04:18 by hypocrite The Sunday Times - Business December 15, 2002 Sharewatch: Zinc price makes Arcon a real punt Renewed global industrial production could trigger an increase in demand for the metal, says Brendan McGrath ANYBODY with less than fond memories of Atlantic Resources, Tony O'Reilly's late, unlamented oil exploration company, as well as more recent investors in mining outfit Arcon, may want to stop reading now. Given the number of people who got burned in the Atlantic fiasco back in the 1980s, it is hard to blame investors for steering clear of resource shares. The Irish exploration market is littered with the remnants of shooting stars. Last week's crash at Navan Mining and the previous week's delisting of Bula Resources serve to underline the scale of losses incurred by investors in recent years. However, there is still a case to be made for small exploration companies, purely on the basis of their speculative appeal. Arcon, which has just endured a roller-coaster 12 months, falls into that category. Arcon's main asset is the Galmoy zinc-lead mine in Kilkenny, and various exploration licences in the vicinity of the mine. Galmoy was brought into production in 1997 with a planned 10-year life span. Galmoy's biggest problem is the price of zinc on world markets. At just over $800 (788) a tonne, the zinc price is at a 60-year low, although there are tentative indications that renewed growth in global industrial production in 2003 and 2004 will trigger a rise in demand for the metal. If the price of zinc rises in line with an economic upturn, then the prospects for Galmoy improve immeasurably as recent financial and exploration developments mean that Arcon's finances are finally in order. In addition, recent exploration results nearby suggest that the life of the mine could be extended well beyond the remaining five-year production schedule. Arcon's crippling $100m-plus debt has been reduced after a restructuring this year which, inter alia, resulted in O'Reilly increasing his stake in the company to more than 71% after underwriting a 28m rights issue. O'Reilly also bought most of the debt from the banks, who swapped the rest of this debt for a 10% equity stake in Arcon. If that restructuring hadn't taken place, Arcon was in real danger of going out of business or being taken over by the banks. Now Arcon's only debt is the $20m owed to shareholder O'Reilly, and he is unlikely to make heavy demands on a company into which he is estimated to have pumped more than 100m. Outlook: The key to Arcon's future is the price it gets for its zinc over the next few years. Some observers believe that the industry globally needs to cut production further before there is any prospect of a sustained improvement in prices. Others point to the decision by Outokumpu to reopen the Tara mine as a sign that a recovery is in the offing and that Galmoy will boost production as prices improve. Verdict: Investing in Arcon requires a great deal of faith in a zinc recovery. The company's shares have doubled from 2c to 4c in the past few weeks as investors priced in the improved outlook, but further growth will depend on a sustained improvement in the zinc price. Worth a punt - but only if your nerves can cope with what remains a very speculative investment. Factfile Price: 4c Market value: 63m Daily volume: 556,000 Share price performance: no change since 31/12/01; -75% since 31/12/00 Major shareholders: Sir Anthony O'Reilly 71.7% EPS consensus: 31/12/02 -0.5c; 31/12/03 2c Prospective p/e: not applicable Risk grade: n/a Risk ranking: n/a Website: www.arcon.ie |
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