Tuesday 25 January 2011
January Trading Update
However, much of the portfolio is set for the year so I don't expect to do quite so many trades this year. At the end of 2010 I consolidated into fewer long term plays.
Over the next month I hope that Xcite Energy will release its report into its recent find. This confirmation should push the price up to over £4 again. However, I am beginning to think an offer for the company is quite likely this year and so 100% gains are still possible from here, despite the steep rise from 70p since September last year. Also I expect EMED to move forward in getting some more key steps for re-opening its mine approved and these will support the shareprice.
Ascent resources, a relatively small holding, is due to get news on its drill in Eastern Europe, this will do the usual of doubling the price of halving it. If it doubles I may sell down as still on my watch list are CAZA, AEY and CGL.