Jim Rogers has held two media briefings at his home in connection with developments at Geo Energy Resources. NextInsight file photoWORLD-FAMOUS investor Jim Rogers, who lives in Singapore, has made his first purchase of shares of Geo Energy Resources today.
A Non-Executive Director of the company, Rogers acquired 1,700,000 shares at S$0.355 each for a total of S$603,500.
The share price closed up 6.5 cents,or 18.3%, at 42.5 cents.
The stock traded on massive volume of 152.9 million shares, which was about 15X the average daily volume in the past three months.
In addition, new business activities -- namely mining services and coal trading -- also contributed additional revenue, resulting in an overall 11% increase in revenue to US$50.0 million.
On the flip side, there was negative impact from the termination of the Group’s coal cooperation contracts and a decrease in the average selling price by US$27.5 per tonne from US$62.2 per tonne in HY2012 to US$34.7 per tonne in HY2013.
Recent article: GEO ENERGY: Growth strategy to counter volatile coal prices
Roxy-Pacific shares up 5% on bonus news
Roxy chairman and CEO Teo Hong Lim. NextInsight file photoShares of Roxy-Paciifc Holdings today shot up 3.5 cents, or 5%, to close at 72.5 cents after the company proposed a bonus share issue of 1 bonus share for every 4 ordinary shares held.
This is the second bonus issue by Roxy-Pacific since its listing in 2008.
The first took place only last April whereby 1 bonus share was given for every 2 ordinary shares.
Adjusted for the 2012 bonus issue, Roxy-Pacific's share price would have been 20 cents at its IPO (unadjusted: 30 cents).
This translates into a 262% gain in the stock price over the past 5 years or so, which in turn is an average of 52% a year -- thanks no doubt to, chiefly, the strong earnings growth of the business and its future prospects.
Recent story: ROXY-PACIFIC: $1.1 Billion In Revenue Yet To Be Booked
Comments
Have you added any more shares to the 1,700,000 shares of Geo Energy you purchased in August 2013?
As you are interested in Indonesian coal mining, why did you not invest in Indonesian coal miners directly on the Jakarta Stock Exchange?
Thanks for your attention and regards!
Paul Neumann