Back to all announcements

DJ All Star Minerals PLC Quarterly Update

2 September 2016 
                             ALL STAR MINERALS PLC 
                         ("All Star" or "the Company") 
                               Quarterly Update 
All Star wishes to provide an update on corporate developments. 
Board Appointment 
David Bourne joined the board on 25 July 2016 as non-executive director. David 
is a qualified accountant and holds the FCA accreditation. David has many 
years' business and finance experience to compliment the board composition. 
Investing Strategy 
It was resolved at the AGM that the Company was to broaden its investing 
strategy to include non-resource sectors. The sectors that may now be appraised 
are financial services, engineering and support services, renewable energy, 
construction and technology. The strategy will remain focused on the European, 
African and North American regions. 
Following the change to the Company's investing strategy, the board have been 
appraising a number of opportunities with talks being held and in some cases, 
confidentially agreements entered into. 
Whilst at this time there can be no guarantee as to the outcome of any talks or 
opportunities being appraised, it provides an indication that the board is 
proactively seeking opportunities for the Company. 
NQ Minerals Plc Stake 
All Star maintains it holding of just over 5.5m shares in NQ Minerals Plc ("NQ 
Minerals"). Although the performance of NQ Mineral's share price has proved to 
be disappointing so far in 2016, the board of All Star remains optimistic for 
the prospects of NQ Minerals given the tenement package that it owns and the 
drilling results as announced on 14 June 2016. 
Furthermore, two directorate appointments were made by NQ Minerals on 22 and 30 
August respectively. The individuals appointed are highly experienced mining 
professionals with many decades of experience. 
In addition, the All Star board also notes that NQ Minerals recently raised 
US$150,000 at 8.4p. This was at a significant premium to the underlying share 
price and was another positive announcement made by NQ Minerals. 
The board of All Star continues to await further news and drilling results from 
NQ Minerals to fully understand the potential of the Company. 
The Directors of All Star are responsible for the contents of this 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014. 
All Star Minerals Plc 
Tomas Nugent, Chairman 
ISDX Corporate Adviser 
Cairn Financial Advisers LLP 
Liam Murray 
020 7148 7900 

(END) Dow Jones Newswires

September 02, 2016 02:00 ET (06:00 GMT)