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yep sorry- cents.
Think its 10 cents not pence.
So share dilution of 7 and price increase of about 6.
Its all about the growth and potentially locating more PGM
Cheers, I hope you're right.
I think it'll be better than all the oil failures at least. We see, but I think it is a lot safer now than ever before. regards
Ok thanks for that.
This would mean that I'm down to about a 65% loss, rather than about 85%, but with a lot less shares.
Hopefully this won't go the way of everything else Bandy has touched and I start to creep some more of that loss back!
so amount / 100 x 14 x 10p. Pretty much gives an equivalent of 1.7 p ish now.
seems that way I guess and then what ever it climbs to a bonus
Being very inexperienced in all this, I'm guessing that for every 100 shares you hold, you get 14 @ 10pps?
I am more that happy and to be honest - surprised it has turned out as big as it has. The valuation in the ground runs into billions. I have also been adding over the years and have a considerable holding and i would hope that 10 p a share with a 14/100 swap would see a very healthy return- but I think the appetite for PGMs is huge and i would not be surprised if this really soars beyond anything oil would have offered. Finally there is something tangible to invest in rather than hype
What does everyone think about the proposed consolidation of shares at the forthcoming General Meeting on 24 May?
It is certainly a little more positive than where we were a week ago! Full details are here: https://tinyurl.com/c4ypezt3
GLA
I've been in RMP since Somalia days with a substantial holding, I rarely post but am pleased with RMP's decision to move away from oil. It seemed to me that we where chasing after a resource that is getting cheaper, expensive to explore for and with too many failures. I am glad that the focus has changed and I presume that the exploration will be cheaper than a search for oil. Generally I am more comfortable with this new approach and hope that RMP will be able to deliver a return after a very long wait.
What do other holders think?
Nice summary here:
https://themarketherald.com.au/red-emperor-resources-asxrmp-prepares-for-17-5m-project-acquisition-2021-03-25/
Dilution from the outset no doubt. And I think we got a long way before trading starts
Consolidation and fund raise - thoughts?
Yeah 6 months, so ages yet. I'm confident this will come to fruition- i's just probably back and forwards until all conditions are met for approval- A little over three months left. RMP surely can't balls this up ?
3p would be nice , and then im a gonna
GL all
Suspension was on 20/01/21 pending approval of submission document.
I thought they had 6 months but pretty sure we will find out long before July.
If whatever they are going for is not approved then probably not enough time to find anything else therefore I'm sure approval will be forthcoming soon.
Then potential 3p-4p
Is there a time limit for how long this can drag on for?
Could GB just keep drawing a wage until it's all gone?
"hxxps://www.mriwa.wa.gov.au/research-projects/project-portfolio/a-novel-direct-leach-approach-to-extract-platinum-group-metals-pgm-from-the-panton-sill-pgm-deposit-in-the-kimberley-region-of-wa/" ?
and
"hxxps://mriwa.sharepoint.com/:b:/s/FinalReports/EbZJrbryblBEhTIWOq3ntnkBUr67eH7srY9aZX8gkGeWXw?e=0cLsA4" ?
(Where hxxps is https)
Let's hope so.
At least its close to home and they know the platinum is there. It's also a shift away from oil given that Bandy couldn't find the stuff in his car
More on Extraction technique :
file:///C:/Users/ALEU1B820016/Downloads/M0458-Panton%20Sill%20Project%20testwork%20Final%20Report.pdf
RNSFri 07:14
The Company has recently made an application to ASX in respect of a proposed transaction under ASX Listing Rule 11.1, which is under consideration, and the Company's ordinary shares remain suspended from trading on both ASX and AIM.
Oh well we live in hope
Yep....in hands of regulators as we speak. I feel Rule 11.1 "change in business activity", suggests a Panton PGM buy in for Red Emperor. If its for the residual 20%, then that would equate to 3million AUS Dollars I guess, because the original sale price was 15 Million and Panoramic sold 80% for 12 Million already. What seems to have shifted is the manner in which Platinum group metals can be extracted. There is a new process in the making which drastically reduces cost, waste per KG. Plus Platinum and other rare metals are at the heart of the EV revolution. The mine itself is very close to Paneramic's Savvanah operation and close to the east/ west Highway.
https://www.australianmining.com.au/news/new-platinum-extraction-method-to-aid-kimberley-projects/
If so, could we be looking at 20% - the residual held by Panoramic? Making RMP a decent percentage stakeholder?
Could be good news all round after 10+ years; I'm quietly optimistic- so we shall see.
on a final note, surely we have to see a submission to AIM also before a re-listing can commence
From Half year report:
"REVIEW OF OPERATIONS
Corporate
During the reporting period, Red Emperor continued t “Re-admission....
...The Company has recently made an application to ASX in respect of a proposed transaction under ASX Listing
Rule 11.1, which is under consideration, and the Company’s ordinary shares remain suspended from trading
on both ASX and AIM."
So in hands of ASX regulator?..
Which presumably refers to investing in the Panton Sill project in some way. As reported in Western Austrailian share news.
That would be nice. With the amount of goes GB has had a getting something, surely he can't keep striking out.