I suspect high and dry for RRR because Bell has no real skin in the game here and the mutual RRR/RGM holdings are only there to secure Bells control. The only reason RRR would be of interest would be to get hold of that holding but it isn't worth it for Angus. Bell will be gone soon from RGM and then will only have this to milk completely dry. Old habits...
It is notable, imo, that today's RNS, which confirms the receipt of the 2nd tranche payment from the Colombia deal, makes no attempt to inform shareholders of what that money will be used for. That is a poor show in all honesty which serves only to fuel idle speculations of how it will be spent. There should be no need for speculations imo. AB should be upfront and clear about how the monies will be utilised. Not just the Colombia monies but also the SRT monies recently received.
Richemondo - "$225K has been paid on schedule. A further $1m is potentially subject to conversion into tradeable stock or payment earlier than planned"
Hang on though Richemondo. Aren't these payments just part of the overall Colombia deal which included BOTH the mine itself AND the outstanding loans owed to RRR by FPM? (RNS Apr 14th 2015). Weren't those loans something like $2m? Please correct me if that number is anywhere near incorrect. So thus far RRR has had $450K from the first tranche and now $225K from the second tranche. So we seem to have given away a producing gold mine and waived a very sizable debt to us and so far only gotten $665K for them. That doesn't appear to be very good business TBH. Is this the part where you say "oh don't dwell on the past"?
"Under the Agreement entered into between the parties, Regency has agreed to purchase the 5% interest in HHDL from Angus for a consideration of £400,000, to be satisfied as to £223,730 in cash, and as to £176,270 by the issue of 54,236,919 new shares in Regency at a price of 0.325 pence per share. Regency is settling the cash component of the consideration out of its working capital resources." ......,.....
I'm totally gobsmacked that RGM have £223,730 in cash to pay towards buying back into horse hill. With redundancies payments and big cash burn I was absolutely convinced they would be almost out of cash.
Please somebody how did RGM have that much cash reserves? I'm flabbagasted!
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