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Is now live under ticker ALL
The entitlement was Friday right guys??? Cos sold some shares here (top slice) so should get my entitlement for those I sold?
Can also view the stock via google finance, up 6%+. Barclays and LSE yet to be updated.
Bid 23p Offer 24p - up 0.3p from II
very quite on here, but that lack of drop is very noteworthy and positive
The only place I could find an ALL price is Yahoo Finance. Latest share price 23.89.
Volume ~ 20000
remarkably steady
Confirmed we are now Atlantic Lithium !
I think Vince will be unleashing a raft of news and having advanced the drilling aggressively there should be plenty to tell !
Should be epic! I don’t think Vince is just going to change the name to Atlantic Lithium and not mention it to anyone. I expect big news on this year’s drilling, the five rigs that have been onsite for the last 5 or 6 months.
I think there will be heavy promotion of the new name, both here and in the US to lunch the new name and to get the shares sold on the OTC. Strike while the iron is hot, Atlantic Lithuum is a strong name and Lithium is now at all time highs as are the SPs of most of the major producers.
Using a 20mt instead of 14.5mt and $2000 per tonne instead of $650 easily takes the project to around 5 billion revenue instead of 1.5 billion. Should get interesting here real soon.
SP aside, we're entering the beginning of the time for talking about Ewoyya to end. PLL will want feasibility, mine license and shovels in imo. I didn't realise the shipping is also quiet lo cost. In the background proving up more resource presents more future profit with no or little more capex. Very positive prospect.
In the short term a fine balance maybe between those that bought IRR to get the free shares and if they now sell but hopefully what ALL has to offer any pull back will only be temporary
Good idea Teddy, I don't think it's a day for knee jerk reactions as we await ALL to incept.
As for those who sold hoping to get back in lower, each to their own but risky , ur gonna need it to drop by 2 spreads and the value of lost Ricca shares, so realistically well sub 20. It might, personally I think it may hold, on the anticipation of the new ALL proposition. Gl and genuinelly difficult to call it tomorrow.
Please could someone confirm that we should be considering only 50% of the NPV and project financials quoted in the company presentation as the component of the asset financials that are attributable to IRR/ALL?
Is there a date fixed to change ticker to ALL ? Sorry too lazy to root out the answer myself .
Interesting tomorrow how this plays. Conventionally ex divi due to cash to Ricca.
However ALL is now set up as a very straightforward investable pure play, dare I say target. if you see value released, SP could keep going, albeit I concede ST drop likely.
Finely balanced, not long to find out.
So I off loaded a few at 24p late on today so that I won't be too exposed to the unlisted shares in my ISA. I can buy back into IRR on Monday, however it shows, and that will be buying into ALL only for when they effectively change the ticker. If they mark it down 3 or 4p that will suit me!, If they only mark it down 1p that's fine, I've still got what I'm holding in the black thanks to the last week & RICCA in the bottom drawer for a while.
Nope. It’s just a dividend that’s paid in shares rather than cash, all that happens is the share price is marked down before open commensurate with the dividend amount.
Some think this will be 12.5% to reflect the 1 for 8 split, or you could argue that as Ricca is being valued at A$7m in the rights offer, that’s what it was valued at in the IRR price, which would be about 1p / 4%.
We’ll know come Monday morning.
So, suspension of trading on Monday pending distribution of the new shares? Can't see any other way of doing it.
It has been a long and testing slog at times.. I think back to the fundraise at 7p and the non existent market reaction to our MRE at Ewoyaa, the excitement around Dorothe.. the expectation around the Zaranou MRE (very much still in play).. but finally it is looking like IRR’s time has come, albeit the rewards will be paid out under the new entities ALL and Ricca.
Clearly there have been a flurry of new investors joining over the last few months (and probably the last few days, good PR Vincent and team). Welcome to all - I think we are in for an incredible few months as 1) we become a pure play lithium company under ALL 2) the US listing starts to bear fruit and 3) we update the market with revised Li tonnage at Ewoyaa
We are sitting on one of the world’s greenest and most profitable lithium mines and the market is - at long last - about to work that out.
30 minutes to be sure to be on the register
Ah! 24p as expected. Wonderful!
From the RNS:
"Additionally, shareholders will benefit from the approved demerger of our highly prospective gold projects throughout Cote d'Ivoire and Chad into the separate entity called Ricca Resources. Shareholders and investors are reminded, if you wish to partake in the Ricca Resources gold demerger, to avoid disappointment ensure you are on the IronRidge register on Friday 19 November 2021.
Just had an update and to be sure to be on the register it’s today guys and girls.
· Subject to satisfaction of the demerger conditions Eligible IRR shareholders will receive an in-specie distribution of 1 Ricca Share for every 8 IRR Shares held at the In-specie Distribution Record Date (which is currently scheduled to be 23 November 2021).