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News, correct. It should make decision-making easier and quicker. David Lenigas is a director of a number of ASX listed companies including gold companies: Strategic Consultant.
Likely PRE-IPO funds follow quickly, a broker gets appointed, a quick drill programme at Berringa followed by an IPO.
In the current environment we might even be able to flip it.
All the conditionality is on our side.
DYOR
Looking forward to MR BELL interview on this sensible deal, that keep it all together under 1 roof as gold price travel to $2.260 an ounce and beyond
sell if you want, but don't look back in anger
It's not astute if we are about to get our DRC money as that's considerably more than the current market value
RED ROCK TO ACQUIRE 49.9% OF POW'S SHARE OF AUSTRALIAN GOLD LICENCES ETC, VICTORIA, OZ:
An earlier RRR RNS stated it wished to IPO Red Rock Australisia and POW agreed. The market does NOT like split ownership of an asset and therefore, by RRR acquiring the balance 49.9% of Victoria assets, it is far easier to IPO etc. An astute corporate move. Mr Bell is aware of the mkt cap of Southern Cross Gold on the ASX with the LICENCE next to RRR Kilmore [as posted last night about Kilmore from The Examiner Newspaper 1855/6?].
RRR RNS, 13.3.24: I think from the convo on this forum, some have NOT read the RNS as to the other assets.? Very strategically astute given the Australian asset is of interest to global investors [ref: Southern Cross Gold to dual list in Canada to attract global investors.] DYOR. NIA.
They seem to have a lot of assets maybe they should sell some and concentrate on just a couple.
100% ownership of Australian Gold Subsidiary at a time when gold is on the biggest run of it's life..
excellent move by MR Bell & team RRR and the Market will soon catch up with proceeding, and I personally think AB expect SRC cash imminently and only got to give them shares for now''' all this talk of funding call is hateful speculation and will never be enough to stop the rise that will come here when it's ready
GLA genuinely invested, and would genuinely want there investment to rise off the floor
ATB
Good old WE EXPECT;NOT WILL be going
Https://twitter.com/jczuleta/status/1767802495558914490?t=7ezMF_As3-Z_aS-vsbHFeg&s=19
DYOR
Https://twitter.com/RRR_RedRock/status/1767823971959832627?t=9mbA7_eAU3pJXmH_ZRw_ng&s=19
DYOR
Good reason to issue 1.3 Billion shares and meet payroll this month
So our RNS emphasises the conditionality.
Now RRR needs to find a buyer or get the IPO moving and grooving. Cheap deal for RRR in the current environment.
DYOR
Wow just seconds before 8am and RNS
Good news indeed
Should reD POW have a share of any profit RRR make on subsequent sale / listing.
Poor lads don't know if it's a Reach or proper RNS. Any dicking around is by the company :)
For once I agree with H50.
What will interest holders is share dilution.
3.55bn in issue now.
Current authority 1.3bn. Assuming they will seek more.
213m due to 19th Oct CLN holders at 0.11p
167m to POW tranch 1 consideration.
400m to POW tranch 2 consideration assuming issue at o.07p
700m at next placing for running the company.
The pricing of the next placing is critical if its the current SP they are diluting current holders by 40% for taking 50% of Victoria goldfields. PoW consideration is determined by that placing.
Others can do the maths but it would need to be worth $10m plus for that type of dilution and remember POW have a share of any dilution / listing available in HoT.
Incredibly high risk and does suggest to me DRC is a long way off. A final roll of the dice but potentially a better one than all the usual nonsense.
See what Helpfuls spin is or have they blind sided him :)
The NOMAD dicking around again.
Placing at 0.15? why has this not been RNS'd
No RNS from RRR on this at the moment but I suspect this is in Lenigas territory, RRR gaining back control of NBGC with POW taking, in the main RRR equity, suggests to me that Lenigas will either secure Auusie investors or get the listing away on the ASX.
Remember ECR have a £6m m/cap based purely on a gold licence right next door to RRR in Victoria.
No doubt more to follow.
Thanks for that SHARPER'' good news under the quiet for the REDS indeed''' MR BELL now own the whole lot, and I'm sure we will soon get an update in that regards, RNS did say 0.15p / 0.25p so yes we could soon go on a run when the Market find out
thumbs up for bringing it to our attention,
ATB..
Just digesting this.
I would like to think RRR has got a buyer / funding JV party lined up.
If they have and the terms are good it may be a good move.
As ever with RRR the trust issue will kick in rumours on X spikes, placings and the death spiral.
This is actually the only major transaction I can remember RRR doing with no leaks / hyperbole. They should learn from it.
Interesting day today. RRR RNS on next steps could lift the SP.
Good luck all.
Am I missing something here!?
I thought current strategy was to try to be cash generative by selling assets, signing JV’s, bringing projects to production asap?
POW news is the exact opposite of the strategy!!
Yet the trolls get blamed for SP performance!? Of course it’s nothing to do with a board of directors that continue to do the exact opposite of what they said they intend to do.
I’m sure Helpful will help put a positive spin on it!
Bit like Lithium photos RRR scrambling now to issue RNS. Keystone cops again.
Yet another spinning plate. So much for getting cash in.
Payable in shares gulp that's 1.2bn gone.
Shares at what price.
Shocking no RNS on here. Normal rubbish corporate governance.
Two fingers up to DRC shareholders .
Sold its half for ,£1.5m to RRR.
No one else wanted the asset lol