Solo Oil PLC Advance Ruvuma Testing

Solo recently reported it has accessed £363,000 from their three year £10 million Equity Line Facility with Dutchess Opportunity Cayman Fund Ltd to continue funding the developments and current flow testing programme at the Ntorya-1 discovery well in Tanzania. Solo holds a 25% working interest in the Ruvuma PSA.

Solo has issued and allotted 90,844,685 new Ordinary Shares of 0.01 p each at a price of 0.40p pursuant to the drawdown. An Application will be made for the new ordinary shares to be admitted to trading on the AIM Market. The new ordinary shares will rank pari passu with the existing ordinary shares in the Company and trading of these shares on AIM is expected to commence on the 1 August 2012.

Following Admission, the Company's issued share capital will consist of 2,778,344,708 Ordinary Shares with a nominal value of 0.01p each, with voting rights ("Ordinary Shares"), and 265,324,634 deferred shares of 0.69p each. The deferred shares are non-voting, are not admitted to trading on AIM and are not entitled to any participation in the profits or the assets of the Company. The Company does not hold any Ordinary Shares in Treasury. Therefore the total number of Ordinary Shares in the Company with voting rights is 2,778,344,708.

The above figure of 2,778,344,708 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

Strategic Minerals AIM:SML Set to Shine on AIM

Strategic Minerals AIM:SML the large scale processor of the magnetite bearing Cobre Stockpiles, located in New Mexico USA, edge closer to the commencement of mass tonnage shipment. With AIM mining stocks bearing the brunt of a negative market sentiment, there remain a few shining star stocks that offer shareholders some real earning and share performance upside. SML is one we pick out, principally because as Q4 approaches, Strategic are set to unveil an Olympic set of earning results courtesy of the fact they will be shipping up to 70,000 tonnes per month of magnetite under the terms of an offtake deal with Glencore. With investor appetite to fund exploration stage miners, SML are set to shine out as a transformation stock in 2013.
Keep an eye out for the guys!!!!