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Aussie & South African Companies of Interest

 A few interesting trades this week in a rather quiet week for Oceania overall.

Two of the three directors of International Goldfields Limited have made share purchases this week. They still hold less than 1% each but their trades increased their holdings fairly substantially. Jason Bontempo bought 2.5mio shares to now hold 4.67mio and Antony Sage acquired just over 4mio shares to now hold 5.077mio approx. The investment by the pair equates to almost £200k. The last time these directors bought was Jan’10 (AS) & May’10 (JB) when the price had been drifting lower but eventually rallied to the highs of late 2010. Since then the share price has slipped again to new lows but with these purchases the two directors are perhaps looking ahead, especially after the promotion to the board of Bernard Aylward who has some experience of expanding gold mining activities in his background.

Switching tack, Alan Stein, Chairman of Neon Energy Limited, was seen disposing of 1.5mio shares this week, ostensibly for partially funding a residence. All well and good but looking at the share chart the price has had a very good run up since the beginning of the year from 12.5 cents where it had been almost flatlining for the last two years. It may well continue but Mr Stein does not mind reducing his holding at 45.5 cents and reinvesting it elsewhere, albeit in a new residence. The sale raised approx. £450k and his holding remains strong at 5,891,321 shares (being 50% of the jointly held interest less 1.5mio shares).

Mr David Dix, Executive Chairman of AED Oil Limited, has increased his holding by approx. 10% with a take up of the share purchase plan from May but more so an acquisition of 3.85mio shares taking his holding to almost 41.9mio shares (approx. 20% of the company). The investment is a further £210,000 while the share price stands at lows following a steady decline over the last three years. Mr Dix encouraged shareholders to participate in the share purchase plan of May and signed off with this paragraph, ‘I am of the view that the prospective value of these assets significantly exceeds the value currently attributed toAED by the market. This assessment encourages me to personally participate to the greatest extent possible in theSPP offer to eligible shareholders’. Clearly he has taken part but the 3.85mio purchase on market @ 7.5 cents is accentuating his view/belief. Maybe it is sour grapes or a fit of pique but he believes, so this company may be worth a look, but as always ‘caveat emptor’.

Blue Financial Services Limited, a South African company, has seen Mr R Mashishi and Company Secretary M Waldeck purchase shares recently, only in a small way but this is the first activity for two years by directors/officers which is why it is noticeable. The total investment is around £55k (40k Mr Mashishi) which comes after a prolonged period of two years where the share price has been bouncing along the bottom. The price chart is just glimpsing a slight turn up in the price and perhaps director Mr Mashishi, being the insider he is, is looking for the price to continue to tick higher.