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Any thoughts on this unexpected rise today folks ?
FWIW. Any further thoughts on RMP looking to become involved with fellow junior O & G ASX listed companies, SGC, XST and EME on the Borba prospect ? Only 5 months left for RMP. Borba prospect is due to be drilled 4Q. A potentially transformational well, working capital needed... Please DYOR.m.
Finished
this share is on its last legs.
Incompetent management...he shouldn't be allowed to draw a wage
I'm ok with it too Suthy, we all make choices , and it ain't over till its over . " The Company will continue to evaluate a number of oil and gas opportunities in line with its strategy and principal activities " i'm quietly optimistic that they have their sights set on something. I just hope it will nudge us to 3 / 3.5p mark over the next 6 months. Good luck
I am ok , thank you. BOD are quite shrewd I believe they will deliver, or rather pay someone to do it for them LOL
Suthy, you can buy now or sell now before it fall to 0.3p. it seems there is no trust on bod new business if any or if delist, what sp will be. make a guess?
Yes agreed, very long winde approach each time, which is why I favour this 15 Rule...we'll see - good luck
Odds of 10 to 1 are a lot better than horse racing and miles better than a Casino.
We were unlucky in the Philippines and in Alaska.
Some people are lucky others aren’t, but betting is a mugs game, we had two goes with Red Emperor but our leader is not really in the game of finding oil just in finding a cosy way of life. Worse he is happy to let years pass by without any action at all and when he does and then changes his mind there is no explanation!!
We musn't forget 1 in 10 drills are successful, we all jumped on the gambling wagon at some point or other, so we are also to blame as we provide the funding. Of course we all need a "scapegoat" when it goes tits up. And I note how the sun shines out of his preverbial when the SP climbs !! Human nature. Still, I'm looking to exit at 3 3.5 p, if I hit that I'll be happy to get my money back + plus a curry. It'll all go in a decent fund ! Then bollicks to this AIM stress !
Agreed Both. Luckily all shareholders have a definitive timeframe so we are in control to a certain extent. He also would not want to leave AIM in a bad way as it will affect his performance on ASX aswell as shareholders over there will be watching. We will get a very good idea over the next couple of months I feel.
Suthy. Apart from being only interested in his well being, there is no indication that he is able to do anything.
As far as I can tell he has only got involved when a mate of his has offered a risky proposition and he has joined in.
Most of the time nothing has happened for months and months and months. Never has he ever shown the spark of leadership or the desire to get ahead. Good luck to you all your going to need it.
Exactly Suthy, this could be the change in approach / dealings we have all waited for. It's all speculative, but you have to read between the lines here as it is so out of character. I'll watch everyday as I have been for months now- at least we have a time frame to work with rather than having no clue other than waiting for random RNS's over extended periods. Good luck
Swiftly. I completely agree I believe there is something in the pipeline as he inferred in the RNS. He would have known the consequences of withdrawing from Alaska. He is a selfish g@t. But he is not stupid.
I think he would have been fully aware of the consequences of ridding himself of Alaska North Slope; as well as relinquishing NOPTA licence. (rule 15)...he would only have done that if he had his sights on better things....which he alluded to in the RNS. So, I am hoping this will speed up a rise in SP. Not with standing the record so far which has been repeating cycle of slow progress / fast failure, I am quietly optimistic something is in the pipeline - Cash Shells seem to have done well historically . I just to see 3 to 3.5 p.
Good post Lowerisk, I also think he should takeover something small, just enough to suffice the requirements. Share price is at cash value so it’s about right
So, no reason to pull out of the last deal and now you have the real possibility of RMP being removed from AIM.
He is quite incompetent and should be removed from his directorship.
6 months is all that's left, his track record is not good on speed of deal making, and everyone in the business now know that he is going to get desperate as time passes.
Rmp has cash A$4.6m or ÂŁ2.5m, or 0.48p/share at the end of June. now it is a bit less. so the share price is fair at moment. the question is if they can find more money to start new business, which is almost mission impossible at the current situation and bod poor record. so, they have 70% probability delist. of course bod don't want. so, they need to find money within 6 months and start something small. the future is not bright at current circumstance.
Agreed GPRD, the current share price is around cash value. They have around £2.5m. I think he wants to drill again but not sure what he’s going to do in terms of the reverse takeover. He appears to want to stick to Oil and Gas.
sorry make that 0.38p/share based on available capital with no assets anymore!
Cash value around 3.7p/share. This was deliberately pumped after the RNS warming of possible delisting if no capital raise - now being dumped. Total scam imo.
I'm not well up on all this, but isn't the chance of Bandy taking RMP private zero?
To get investors to agree, he would have to offer a premium on the SP, which is now round about cash value, so he would have to put money in to do this.
His return would come from hard work and the potential he sees in RMP, which at the moment is doesn't seem to be very much.
'' 10 August 2020
Red Emperor Resources NL
AIM Rule 15 Cash Shell Status
The Board of Red Emperor Resources NL (ASX/AIM: RMP) (“RMP”, “Red Emperor”
or the “Company”) announces that, pursuant to the relinquishment of the Western
Blocks on the North Slope, Alaska (ADL#s 391718, 391719, 319720 & 391721)
as announced on 24 July 2020 (the “Relinquishment”), the Company has become
an AIM Rule 15 cash shell (“AIM Rule 15 Cash Shell”).
As an AIM Rule 15 Cash Shell, the Company is required to make an acquisition,
or acquisitions, which constitutes a reverse takeover under AIM Rule 14 (including
seeking re-admission under the AIM Rules for Companies) within six months from
21 July 2020.
Alternatively, within such time period, the Company can seek to
become an investing company pursuant to AIM Rule 8, which requires, inter alia,
the raising of at least ÂŁ6 million and publication of an admission document. In
the event that the Company does not complete a reverse takeover under AIM
Rule 14 within such six month period or seek re-admission to trading on AIM as
an investing company pursuant to AIM Rule 8 (either being, a “Re-admission
Transaction”), the Company's ordinary shares would be suspended from trading
pursuant to AIM Rule 40.
Thereafter, if a Re-admission Transaction has not been
completed within a further six month period, admission to trading on AIM of the
Company’s ordinary shares would be cancelled.
As at 30 June 2020, Red Emperor had cash at bank of approximately A$ 4.6m.
The Company will continue to evaluate a number of oil and gas opportunities in
line with its strategy and principal activities since being admitted to trading on
AIM in 2011. A further announcement(s) will be made as and when appropriate.
https://hotcopper.com.au/threads/ann-aim-rule-15-cash-shell-status.5546219/ ''
Please DYOR
John Begg was a colleague of Gary Jeffery’s at XST several years ago. SGC, XST and EME are looking to drill the Borba prospect in California in Q4. More funding is required and WI’s are yet to be announced. SGC, RMP, XST and EME are all based in Perth. Could RMP be farming into Borba ? Please DYOR.
Hi Swify, apologies I missed your post. Yes I am hoping Bandy saw this coming and has something lined up. We have six months so we will see. It could be very good if he approaches this correctly.