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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Strategic Nat. | SNRP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 2.875 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.875 | 2.875 |
| Top Posts |
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Posted at 26/9/2015 16:34 by growbag Worse - AIM stocks that invest in South Africa.AIM should be regulated like fixed odds betting terminals. Stock prices can be manipulated randomly in any direction, and investors will ALWAYS lose out eventually. |
Posted at 30/3/2015 14:26 by vinny_leonard it is hard to see how an investor could lost everything when there is still a valuable asset in south africa(albeit less valuable than a year ago) which should be worth at least 4-5p a share. i agree with koolade that a re list and re focus is a more likely outcome for the patient investor and as the company is delisted we are all bound to stay the course which might not be a bad thing , but then again....! |
Posted at 24/2/2015 15:09 by bungeetrader FWIW;Just had a chat with someone at LCB and they are trying to contact the company but SNR have basically "disappeared off the face of the earth" (No surprise there!). There is apparently an investor in the wings which would see a return to market at a premium to the suspension price however there must be severe doubt surrounding this if they cannot even contact them to discuss it. Personally, I've no reason not to believe what I was told however my expectation of ever seeing a return is extremely low and highly unlikely to ever materialize. I'm here to be proved wrong! p.s. Don't shoot the messenger, only passing on what little I could find out. |
Posted at 01/12/2014 22:15 by marty51 Paul was holding at the last time I had contact with him XEL RMP SNRP BMR, at the time RMP had just gone from 50p to about 10p after a duff drill, XEL had gone from 9p to £4 and back down again, this and BMR are both suspended/delisted..Even now if someone tells him SNRP are doing a huge deal in China and building the route to get it out of the hole it will always stay in he will actually believe it. Not only that he will get others to put in. Its a disease and he is incurable, a loser Im afraid. Always has been always will be. He buys AIM stocks and holds and holds them until they go pop. He let me down badly when I tried to give him a heads up once, bottom line, any tip he gives...short it. eelbuoy, got any tips? |
Posted at 28/9/2014 23:05 by imperial3 There is no excuse for them not to update their website to inform shareholders of Torrance oilfield developments.This smacks to me of poor communication to loyal and suffering investors who have been clinging on to some signs of hope,for the future. |
Posted at 21/9/2014 11:19 by marty51 1private, on the money,just sharks feeding just inside the legal boundries getting fatter while the investors lose out. With the majority of these penny stocks the earner is there for the broker as he sells them...it may be 3-7% commision, that is the earn...the rest is a pure gamble...and in most cases you lose.What makes me laugh is when people actually pay attention to a broker note...the broker is selling them for christ sakes!!! |
Posted at 17/9/2014 13:08 by dingbat21 RNS out from SNRP !RNS Reach Story Go to market news section Print Company Strategic Natural Resources PLC TIDM Headline Purchase of Deeded Mineral Rights Released 13:00 17-Sep-2014 Number 9082R13 RNS Number : 9082R Strategic Natural Resources PLC 17 September 2014 Strategic Natural Resources PLC ("SNR" or the "Company") Purchase of Deeded Mineral Rights by Strategic Natural Resources (SNR) From Torrance Petroleum Company (TPC) The Board of SNR, the natural resources developer operating in South Africa, which indirectly owns 74% of Elitheni Coal (Pty) Limited, announces that the Company has agreed to take a 40% Net Revenue Interest in the deeded mineral rights of the Torrance Oilfield-California asset, subject to a number of conditions being met. About Torrance Petroleum Company Torrance Petroleum Company, owned and run by Blair Merriam, has a 520 acre oilfield site in Torrance, California with a proven and probable oil reserve. ( hxxp://www.indnrg.co This onshore oilfield previously drilled and produced oil between 1920 and 1950, but it is estimated that only 5% of the expected reserve was delivered. A 2009 engineering report confirmed proven and probable reserves and in the coming weeks, a petroleum consultancy firm based in Houston, Texas will deliver to TPC a new and updated Competent Persons Report (CPR) which will further account for new technologies, methodologies and more. TPC anticipates that the proven reserves which are categorised as P1 reserves, meaning a 90% chance of retrieval and commercial viability, will be in the region of 20 million barrels. Given the CPR will deliver a P1 reserve, shareholders and potential investors should recognise that this is not an exploration play and as such, does not carry the associated risk that is evident with exploration. This CPR which is to be issued will be posted on the SNR website once TPC and SNR have both reviewed the same and agreed to proceed with all conditions being met. It is anticipated that the CPR will demonstrate significant asset value and therefore, once in production, significant revenue streams and profits for SNR shareholders. In the meantime, it is hoped that upon satisfactory conclusion, the asset will be seen by shareholders and investors as a significant investment opportunity. It is anticipated that the CPR will deliver similar asset value to SNR's existing coal mining interest in South Africa and therefore, majorly enhance the overall asset value of the Company. As a result of this opportunity, SNR will be calling an EGM to seek shareholder approval to increase the number of shares in issue and to approve the Torrance transaction. A circular and prospectus will be prepared to seek shareholder approval and shareholders can expect receipt and full details in due course. SNR will be seeking shareholder approval to purchase 40% Net Revenue Ownership Rights in the Torrance, California oilfield for £44,000,000 (subject to the aforementioned CPR delivering the expected reserves as discussed between SNR and TPC and then subject to Board and shareholder approval). This will be satisfied by the issue of a £40,000,000 loan note, £1 million in cash and £3 million in SNR shares at 5 pence per share. The loan note is to be repaid from SNR's share of production revenues and as such this is an efficient means of managing SNR's current financial exposure, as well as SNR's future capital and cashflow. Interest will accrue on the loan note at 8% per annum and will be capitalised so as to also be repaid from future production revenues. Pursuant to the above, the Board of Directors will be recommending the Purchase of Mineral Rights at the EGM for the benefit of all shareholders. This transaction is in line with the Company's previously stated intention to diversify its asset portfolio. It is the Board's belief that adding a proven and probable oil and gas reserve to SNR, ensures that the Company is less exposed than before when it was a single asset company. It is the Company's intention to further pursue other assets to bring into the SNR stable and discussions are currently ongoing. Attracting Inward Investment This proposed asset diversification is helping the Company in attracting inward investment into Elitheni/SNR and the potential investment sums being discussed are significant. The Board feels this is a strong early indication of appetite for potential investors to join forces with SNR and to see the Company and its shareholders prosper. These investors are significant multi-billion pound investors on both the African continent and globally. The Company has already held discussions in this area and will update shareholders as soon as it is practicable and relevant to do so. Board Changes The Company previously stated in its RNS of the 21st August 2014 that "roles will be populated with personnel who have the relevant background for a company in SNR's sector(s) and a company of SNR's size, growth potential and relevant stock market(s) when re-listed". In line with this statement, Gavin Bonnar has chosen to resign as a Director of SNR at a Board meeting held on the 20th August 2014. Gavin has assisted the Company with its change of direction and will continue to engage with SNR on an ongoing basis via a consultancy agreement, the terms of which have been agreed. At the same Board meeting and in line with that same statement, Mr Blair J Merriam has been appointed Chief Operating Officer and a Director of SNR. Michael Shore has now been appointed Chairman of both SNR and Elitheni Coal (Pty) Limited. Mark Rosslee was previously Finance Director of SNR (1st October 2012- 25th October 2013) and he now re-joins the Board. Mark brings immense mining and finance knowledge generally and specifically in relation to Elitheni. This, together with his breadth of contacts and understanding of business in South Africa makes this a hugely positive step forward for the Company. These Board changes are consistent with the Company's statement in RNS number 6786P which was released through the London Stock Exchange on the 21st August 2014. Blair Merriam commented "It is always exciting when shareholder value can be created through both initial acquisition as well as subsequent development. With this first US acquisition, SNR is sidestepping the time, cost and uncertainty of exploration and moving into development." "I am looking forward to joining the leadership team at SNR," stated Mr. Merriam. "SNR is focused on identifying and maximising energy assets on a global basis and the Torrance oil project has the potential to be a critical piece of the evolving plan. My knowledge and experience in the American oil and gas industry will be an asset to our team and I am very enthusiastic about assisting in the development of all of the Company's assets," said Merriam. Michael Shore, Chairman, SNR commented "Firstly, I would like to place on record my thanks and gratitude to Gavin Bonnar for his tireless efforts in getting the Company into a more positive position which is where we are today. Gavin's ongoing contribution will undoubtedly be highly valuable. He was instrumental in settling the liquidation proceedings with London Commodity Brokers and in bringing in vital investment to keep SNR trading. Equally, we are very excited by the prospects of the Torrance, California oilfield acquisition and on entering the oil and gas business in the US where new technologies including horizontal drilling have seen US oil production surge. The fact that SNR is to make its first investment in oil and gas in a development, exploration free asset, is particularly significant and also very reassuring for SNR shareholders. This is a new chapter for the Company and demonstrates its intent to create and deliver shareholder value". For further information, please contact: Strategic Natural Resources PLC enquiries@snrplc.com Michael Shore Paul Rutherford Mick Dunne +44 2074388162 +44 7966149127 +353 86 8309181 For further information about Strategic Natural Resources PLC please visit www.snrplc.com This information is provided by RNS The company news service from the London Stock Exchange END |
Posted at 01/7/2014 07:07 by scruffee AS FORETOLD NOW GET SOME MMO BEFORE IT GOES BALLISTICTuesday 01 July, 2014 Strategic Natural Update RNS Number : 9953K Strategic Natural Resources PLC 01 July 2014 Strategic Natural Resources Plc ("or the Company") Update Overview: Strategic review of its Elitheni Coal Mine in South Africa Purchase of a 6% stake in Millennium Energy Corp, (MENC) engaged in natural gas in the U.S.A and the issue of equity of 40,000,000 ordinary shares at 5 pence per share £1,200,000 million offer of the subscription for new shares by Target Alliance (London) Limited and holdings in the company Appointment of Beaufort Securities Limited as sole broker Appointment of Gavin Bonnar as a director Resignation of non-executive directors SNR, the AIM quoted natural resources developer operating in South Africa which indirectly owns 74% of Elitheni Coal (Pty) Limited, announces that is conducting a strategic review of its Elitheni Coal mine asset in South Africa. The board intends to seek offers that it deems in the best interest of SNR shareholders, Elitheni shareholders and creditors and its BEE Partners. The Board is seeking offers it believes recognise the value of the Elitheni coal mine. It currently has 266,000,000 million tonnes of coal and is located in an area of extensive infrastructure. Specifically Elitheni coal fields are located near two railway lines leading to the port of East London - from where the Company shipped its maiden cargo of circa 38,000 tonnes in September 2013. There is also a further rail line which runs through the Elitheni mine property to the deepwater industrial port of Coega, which has capacity to load large cape sized vessels. Millennium Energy Corp ('Millenium') As part of its review of activities, the Company is pleased to announce it has completed the purchase of a 6% shareholding in Millennium, consisting of 5,000,000 (five million) common shares for a total consideration of £2,400,000 million, comprised of £400,000 paid in cash and £2,000,000 to be satisfied by the issue of 40 million ordinary shares, issued at 5 pence per share. The 40,000,000 ordinary shares shall be issued as soon as practicable, following which the total number of ordinary shares and voting rights in the Company shall be 262,311,583. The Millennium shares were purchased from Ivory Mint Holdings Corp, a company controlled by Irving Aronson, which also owns Target Alliance (London) Limited, the company that recently subscribed for £1,000,000 into SNR, as announced on May 14, 2014. The Company entered into the Millennium Share purchase agreement on May 19, 2014, following board approval. SNR, pursuant to the share purchase agreement, paid a deposit of £400,000 to Ivory Mint Holdings Corp, which was paid on the May 19, 2014. The transaction was subject to approval by the Company's Nominated Advisor Allenby Capital Limited. The approval was sought on May 19, 2014. However as of June 23, when Allenby Capital Limited resigned, such approval had yet to be obtained. On June 11, 2014 an amended agreement with Ivory Mint was reached pursuant to which a further £260,000 was paid. On June 27, 2014 by mutual agreement Ivory Mint Holdings and the company agreed to cancel the second agreement made on June 11, 2014, and revert to the agreement of May 19, 2014. Ivory Mint Holdings Corp delivered the 5,000,000 Common Shares of MENC to the company. The Company and Ivory Mint have agreed that the additional £260,000 paid to Ivory Mint Holdings in connection with the cancelled agreement of June 11, 2014 will be repaid to SNR as soon as possible and used to pay creditors. Following advice, the Board has recognised that the Company failed to announce the Millennium share purchase agreement and the two cash payments totalling £660,000 paid in connection with this transaction in a timely manner, as required under the AIM Rules for Companies. This was due to the Company's belief that the transaction should not be announced until such time as the suspensive conditions had been fulfilled. This failure to announce the transaction led to the resignation of Allenby Capital Limited as Nomad. Chairman and Chief Executive Officer, Alex MacDonald said, 'The Millennium transaction was entered into by the Company to secure what I consider to be a very attractive oil and gas opportunity. Millennium is engaged in the natural gas business in the U.S.A. This process of diversification will make the company more attractive to investors in the future.' Millennium is a publicly traded Nevada Corporation traded on the OTC under the trading symbol "MENC", that owns an 85% working interest in seven natural gas wells located near Tucumcari, New Mexico, U.S.A. Millennium intends to commence production of natural gas and to construct a gas processing plant to produce Helium gas on site. According to Millennium, it is estimated by the license contains 2C GIIP resources of about 200 bcf. The gas production is targeted to commence as soon as MENC raises sufficient working capital to commence natural gas production. see www.millenniumenergy The ownership of the Millennium shares will not contribute to the profits or losses of the Company until such time as the Millennium Shares are sold, resulting in a profit or a loss dependent on the sales price realised at the time of sale. The Company intends to carry the Millennium shares on its books at the cost price. Elitheni Board Appointments Alex MacDonald has been appointed as Chairman of Elitheni Coal (Pty) Limited, Michael Shore has been appointed as finance director. Both conducted a site visit to the Elitheni Coal mine on Wednesday June 18, 2014 and attended meetings with representatives of the Department of Mineral Resources to discuss submitting Elitheni's social development programme for the next five years. Progress in paying creditors of SNR and Elitheni Coal (Pty) Limited The Company has provided £230,000 to Elitheni since May 14, 2014, used to pay ZAR 2,300,000 of creditors and to pay salaries and operating expenses of Elitheni. The Company and Elitheni continue to work towards, and are committed to paying off all creditors as quickly as possible. Recent subscription funds of £1,500,000 million raised did not enable the Company to clear all of its creditors, however it did enable the Company to pay some of the most critical creditors, including London Commodity Brokers, and to purchase the Millennium Energy Corp shareholding to diversify into oil and gas. The Company believes this will allow it to attract further investor interest. This strategy has been vindicated by the further offer of investment from Target Alliance (London) Limited. Further Funding Announcement The Company is pleased to announce the offer, subject to contract, of a further subscription from Target Alliance (London) Limited for £1,200,000 at 3 pence per share, such subscription to be taken up by the initial subscription of £600,000 within 5 days of trading suspension being lifted and £600,000 30 days thereafter. The offer has been accepted by the board and is conditional upon the share trading suspension being lifted and (if required) the Takeover Panel giving and the Company's Shareholders approving a waiver of the obligation on Target Alliance (London) Limited to make a general offer for the Company' shares. The Board anticipates that this will happen once a new Nomad is appointed. Upon successful completion and receipt of the proposed £1,200,000 subscription, the proceeds of these monies shall be used to pay creditors and meet working capital needs. Appointment of Gavin Bonnar as a director The Company is pleased to announce the appointment of Robert Gavin Bonnar (age: 48) an Irish national as a director. Mr. Bonnar, a Barrister-at-Law, qualified in Northern Ireland and is also called to the bar in the Republic of Ireland. He has over 20 years' experience in the legal profession specialising in media, libel and privacy and has developed a unique media law practice in Ireland. Mr. Bonnar also has extensive commercial experience both as an investor and a lawyer and has gathered great experience in financing smaller capitalised resource and oil companies. He has also has spent over ten years working on the ground in Africa. Mr. Bonnar owns a mediation company in Ireland and currently serves as a Non-Executive Director of a technology Company, Rapid Addition, based in London. He formerly served on the board of Aim Listed Frontier Resources Plc, a company engaged in oil and gas exploration in the Middle East and Africa. Mr. Bonnar has given his time and dedication to good causes. He has helped house around 100,000 underprivileged South Africans and has worked on and built some 20,000 homes in South Africa. In recognition of his efforts Mr. Bonnar is a past winner of the Archbishop Desmond Tutu Medal for Compassion. Current Directorships Gavin currently holds or has held the following directorships and partnerships in the last five years: Current and past directorships / partnerships Current Past (within the past five years) Channel Ireland TV Ltd BMG Investment Fund Ltd Bobbyjean Limited 28 GMB Properties LLP International Mediation and Arbitration Services LLP Bobbyjean Limited 32 Frontier Resources International PLC (former name: Frontier Resources International Limited) Mellon Township Limited 29 Mellon Housing Initiative 30 Niall Mellon Township Trust Niall Mellon Township Initiative Limited Gavin Bonnar was one of the designated members of GBM Properties LLP which went into receivership in or around February 2011. In relation to the appointment of Gavin Bonnar to the Board of the Company, the Company confirms there is nothing additional to disclose in relation to his appointment under Schedule Two, paragraph (g) of the AIM Rules for Companies. Resignation of non-executive directors The board of the Company was divided and the Company announces the resignation of the three non-executive directors Gabriel Ruhan, Andy Brennan and Don Nicholson effective as of 29th June 2014 due to concerns around the announcement of the Millennium transaction. Notification of interest in shares The Company has been notified that Target Alliance (London) Limited, disposed of 15,000,000 shares on May 14, 2014 and of 10,000,000 shares on June 11, 2014. TAL no longer has an interest in the shares of the Company. Change of Registered Office The Company announces that it has changed its registered office to 44 Southampton Buildings, London WC2A 1AP. Notification of Beaufort Securities as sole broker The Company is pleased to announce that Beaufort Securities has been appointed a sole broker with immediate effect. Replacement Nominated Advisor The Company is in discussions with a Nominated advisor with a view to appointing them as a replacement Nomad as soon as possible. In accordance with AIM Rule 1, if the Company fails to appoint a replacement nominated adviser by 7:00AM on 24 July 2014, the admission of its securities to AIM will be delisted. General Meeting The general meeting held on 30 June 2014 was adjourned for 24 hours to 10:00AM on 1 July 2014 to allow for this RNS to be released and for a quorum to be present. |
Posted at 11/6/2014 14:57 by growbag This is from the circular posted 09/06/14 ahead of the general meeting. Interesting reading. Despite the dilution, the BoD appear to be making strong progress putting the company on a firmer financial footing -- and under pretty challenging conditions all considered (winding up petitions, low coal price, SA government indecision). Nice to read about the investment strategy and plans to get the mine up and running for sales to local industry and a coal-fired PP. Less impressed by the Directors shareholdings - as pointed out by a poster on iii But I agree with GC321 - the share price was at these levels not long ago and under a MUCH worse situation requiring a last minute loan for Andy Ruhan. We are in a considerably better position now -- and there are many folks with access to capital whose have investments stake here. Crazy - maybe. But I remain confident of a turnaround here. We'll see. (ps - And I have been buying at these levels on that basis). Sorry about the loss of formatting. 9 June 2014 Dear Shareholder Notice of General Meeting of Strategic Natural Resources Plc (the "Company" or "SNR") Introduction We are writing to set out the proposed strategy of your Board of Directors (the "Directors" or the "Board") for the Company, to ask the Company's shareholders (the "Shareholders") to approve resolutions (the "Resolutions") to grant the Directors authority to allot shares to enable them to execute this strategy and to explain why the Directors consider that passing the Resolutions would be in the best interest of Shareholders. Proposed Strategy SNR's immediate priority is to satisfy all its creditors and thereby provide long term stability to both the Company's financial position and its share price. Whilst the first round of funding by Target Alliance and Beaufort Securities has gone a long way in alleviating the situation, it is clear that additional funding is required. TheBoard is currently in negotiations with several parties to meet this end. Whilst these discussions are on-going, the Board is reasonably confident that sufficient funding to meet the outstanding creditors and provide sufficient working capital for SNR and Elitheni Coal will be attained. At the same time, your Board is considering several options in relation to bringing the Elitheni Coal project into sustainable long term production. These discussions involve joint venture partnerships to supply coal to local industrial entities as well as export markets and the possibility of building a nearby coal fired power station for the region. Background On 13 May 2014, we announced £1,500,000 of investment into SNR by way of equity subscriptions at 4 pence per ordinary share of 1 penny each ("SNR Shares") and various agreements with creditors pursuant to which SNR agreed to allot SNR Shares to creditors. In total, SNR has agreed to allot 51,000,000 SNR Shares to investors and creditors. In addition, as part of the extension to the repayment date of the £6,000,000 loan the Company owes to Land Consultants Limited ("LCL"), the Company and LCL agreed that LCL could capitalise up to £2,000,000 of the interest it is owed by the Company into SNR Shares at a price of 4 pence per SNR Share (the "Conversion Right"). The Conversion Right was granted conditionally upon approval of Shareholders, on the proviso that if it was not approved by Shareholders prior to 13 August 2014, the Company would be in default under the terms of its facility agreement with LCL. On 17 December 2013, Shareholders authorised the Directors to allot 90,000,000 SNR shares at the Company's Annual General Meeting. To date 51,000,000 of this authority has been utilised or is needed to satisfy the arrangements with investors and creditors set out above, leaving 39,000,000 SNR Shares available to Directors to allot. There is therefore insufficient authority to grant the Conversion Right to LCL and to allow the Directors to execute their proposed strategy. It is therefore proposed to seek authority from Shareholders to authorise the Directors to: (a) grant theConversion Right exercisable over 50,000,000 SNRShares; and (b) allot a further 61,000,000 SNR Shares for cash on a non pre-emptive basis. This is in addition to the remaining existing authority to allot 39,000,000 SNR Shares. If the Resolutions were passed the Directors would have the authority to allot a further 100,000,000 SNR Shares representing 36.8 per cent. of the issued share capital, assuming the Conversion Right has been exercised in full and the 51,000,000 SNR Shares the Company has committed to allot to investors and creditors have been allotted in full. |
Posted at 09/4/2014 10:19 by gallachb This is a real gamble now, with very little to do with investing in a company with a view to it becoming a producer at this time. It will either wind up and we'll get nothing, or we get a decent investor and a confidently worded Notice to Oppose. It's not easy to attract investors when the courts are involved and the fact that we need further investors means that the current investors don't want to throw good money after bad. I'm tempted to cut my losses, but then even the notice to oppose could add a couple of pence to the current share price. Will they issue that regardless of further investment? |
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