Author Archives: admin

BVI Group announces admission of Common Shares

Eco (Atlantic) Oil & Gas Ltd, BVI-incorporated Group having interests in Guyana and Namibia, announced that the admission of the 250,000 Common Shares will now become effective, and trading on AIM will start on January 22, 2020.

This announcement followed the options exercise announced previously, on January 9,2020. As it was stated in the exercise of options, following the admission the enlarged issued share capital of the BVI company will be 184,697,723 Common Shares.

Eco (Atlantic) Oil & Gas Ltd is a TSX-V and AIM quoted oil & gas exploration and production Company aiming to deliver material value for its stakeholders through exploration, appraisal and development activities in stable emerging markets, in partnership and co-operation with such oil companies, including Tullow, Total and Azinam.

Polo Resources Ltd issued Annual Report 2019

Polo Resources Ltd, and international coal mining and exploration Group domiciled in the British Virgin Islands, published annual report for the year ended 30 June 2019. According to the consolidated 2019 results, the Group had a loss on ordinary activities which was largely due to provision of a full impairment of USD4.18 million against the recoverability of the outstanding loan from Plinian Guernsey, the impairment charge of USD2.45 million against Prism Diversified Ltd (formally Ironstone Resources Ltd) and the impairment reversal of USD2.4 million against the carrying value of GCM Resources Plc. The administrative expenditure of the Group was USD2.26 million compared to USD2.29 million in the previous financial year.

Basic loss per share for the year ended 30 June 2019 was USD1.34 cents, as compared to USD2.44 cents in financial year 2018.

As at 13 December 2019, the BVI Group had a net position of cash, receivables and short term investments of USD11.97 million, as compared to USD11.71 million as at 30 June 2019.

Aura Minerals announced payment of extraordinary dividend

Aura Minerals Inc. announced that the board of directors of the BVI company approved the payment of an extraordinary dividend of CAD$4 million (CAD$0.92 per common share). The dividend will be paid to shareholders of record on January 6, 2020, as of the close of business on December 27, 2019.

By words of President and CEO of Aura Minerals Mr. Rodrigo Barbosa, this dividend is the result of company’s significant progress and operational performance achieved over the past two years. He said: “Our ability to sell the Serrote Project, merge with Rio Novo and ramp up the Aranzazu Mine, which reached close to full production in the third quarter of this year, allowed us to reward shareholders. With a strong foundation of high-quality assets and strong leadership, we remain focused on driving operational efficiencies and strong financial performance while developing the projects in our pipeline for continued growth in 2020.”

Premier African Minerals successfully closed fundraise on PrimaryBid

BVI-registered corporation Premier African Minerals Limited announced the launch of an offer via the PrimaryBid, which was successfully completed and closed on 11 December 2019. After the closing of the offer, the BVI company has raised gross proceeds of £262,293.00 at an issue price 0.1 pence per ordinary share via the Fundraising. To satisfy the Fundraising, Premier African Minerals has issued 262,293,000 New Ordinary Shares, and the application will be made for them to be admitted to trading on AIM. The shares are expected to be admitted to trading on December 18, 2019. Following the issue of the New Ordinary Shares, the company will have 11,266,071,580 ordinary shares of nil par value in issue.

CEO of the company George Roach said in his comments: “With our Zimbabwean operations being on the verge of hopefully turning a corner, we believe that this was a good opportunity for investors to participate in a fundraise on the retail friendly platform of PrimaryBid. We wish to express our sincerest appreciation to all participants in this successful fundraise.”