Where too from here, page-2

At least someone is profitable in this game.... it obviously can be done.

Looks like they are having more luck "adding value" to mining leases than BMB has had over the last few years.

http://www.lse.co.uk/AllNews.asp?co..._FirstHalf_Profit_On_Higher_Investment_Income
CEB Resources Moves To First-Half Profit On Higher Investment Income

Tue, 25th Nov 2014 10:56


LONDON (Alliance News) - CEB Resources PLC Tuesday said it moved to a profit in the first half of its financial year, as its realised a higher net investment income from its portfolio assets and booked lower administrative expenses and foreign exchange losses.

The natural resources focused investment company posted a net profit of USD463,000 for the six months to end-October, compared with a net loss of USD320,000 in the first half of last year.

It swung to profit as it booked USD682,000 in net investment income, compared with only USD226,000 last year, while administrative expenses during the period fell by USD265,000 to USD161,000, and it booked only USD58,000 in foreign exchange losses, compared with USD116,000 the prior year.

During the period, the company realised a profit of USD851,000 on its holding in Carbon Investment, the owner of the advanced Mariola thermal coal project in southern Poland.

Last month, the company sold a third of the shares in Balamara Resources Ltd that it acquired in July as part of Balamara's purchase of CEB's coal site in Poland. It sold 5.3 million shares raising AUD350,000,which leaves CEB with around 9.8 million Balamara shares.

CEB Resources said it reviewed a number of projects and investment opportunities during the first half, and said it will make further decisions, including at the Peelwood Project, once all the remaining Balamara stock has been sold.

"The board's ultimate goal will be for the company to seek to achieve future profits as have been achieved from the sale of the Mariola project," the company said.

Shares in CEB Resources were up 4.6% Tuesday morning, trading at 0.172 pence