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The shares will start trading on the 25th at 2.75p
With 2 of the 4 mines already on a "target", we could be in for a rise from Day 1!!!
Seat belts fastened.....
10 x 0.32 = 3.2p.....not 32p
New shares are priced at 2.75p
Yh, the figure there doesn't take into consideration the consolidation at all. Although I would love this to be the case upon return. It would be very nice.
But with consolidation,If it were to return at 30p, then that's a 10 bagger from the get go.
Am going to buy champagne.
...but yes A-mili, I take your point and it may well end up 3p....I advise erring on that side of caution GLA :)
Thanks A-mili, I'm actually basing what I posted on what appears in my share account. My current shares in Richland have jumped from 0.325p to 30p. It is therefore showing a very substantial amount of money in my balance this morning, enough to make ones heart skip a beat in fact. I see this as a mistake, or rather a Freudian slip! :)
Greenhighlander
Divide the number of shares you have by 10.
Multiply the share price by 10. Not 100
Riseandshine
If we are currently 32.5/100 to a penny.
At a consolidation of 10/1.
We may return around the 3p mark not 30p.
sorry, meant 23rd Nov. ...not Dec. :)
OK, pending shareholder approval, on the 23rd Dec. at the AGM the company is changing it's name to Lexington Gold Limited (LEX). Shares will be consolidated 10-1. The share price looks like it will open at 30p. That means that if we calculate shares now at the current price of 0.325 and divide this by 10 then that should be what you have on 25th Nov. when the new company (LEX) begins trading on AIM. It is my guess that the price will initially drop before recovering and gradually rising. I wouldn't like to guess to what level....any ideas. This is how I understand the current situation but happy to hear other views? :)
meant to type relist .
MUnchlet , When you say well make money when we resist , is that due to the value of the firm being greater after the effect of the RTO?
Or are you meaning the SP will rise due to the gold firms we are now invested in so will be a more gradual rise?
I don't really understand all that RTO stuff!
cheers
If shares closed at. 32
Shouldn't 10.1 be 32p
Rather than 30p
It's significant if you have 500k shares doesn't that make a loss of 10k shares
Or am I missing something?
Will they realist at the true 32p 10.1
A taste of what's to come.
Fully funded.
Lock ins, 6 to 12
With loans converting to shares
Plus 4 Golden prospects
What else?
I doubt that it will unless the company suddenly has a massive boost in it captital value
But dont forget even if it did it on the 25th, it will be divided by 10
....not sure. I called my broker and the shares are still suspended. He said that is is an error that it should be showing on my share account but it still leaves the question "is this what the share price will be when the suspension gets lifted?" I suspect it is! If so then put your seatbelts on :)
that can't be right my share price is now valued at 30p and I still have the same number of shares and now showing an 11 thousand plus increase from 2k to 250k
I was expecting my 777,000 shares to be reduced to 10,000 shares @2.75 whats happening is this a computer glitch?
https://www.richlandresourcesltd.com/
Have a wee read at this! :)
My share account is has the SP at 30p a share.....GLA and enjoy the fun :)
Munchlet,
I agree with the sentiment and hope we start trading on 25 Nov. I don’t know how soon or at what intensity the price rise will occur. What I do know, is that the timing of the increases will not suit everyone, it never does.
Manilla,
It means deal is going ahead and we are going to make a ton of money when this re lists on the 25th.
I have a small holding.
What does this mean for existing share holders
Did anyone else miss the rns yesterday or judt me as coudnt access most of the day
Schedule One - Richland Resources Ltd
Tue, 10th Nov 2020 08:00
RNS Number : 7337E
AIM
10 November 2020
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")
COMPANY NAME:
Richland Resources Ltd ("Richland" or the "Company")
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :
Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda
COUNTRY OF INCORPORATION:
Bermuda
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
www.richlandresourcesltd.com
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
Admission is sought as a result of a reverse takeover in accordance with AIM Rule 14.
On 31 December 2019, further to the receipt of shareholder approval at an annual general meeting of the Company held on 19 August 2019, Richland became an AIM Rule 15 cash shell upon completion of a fundamental disposal and thereafter commenced the process of appraising suitable reverse acquisition opportunities in the mining sector.
On 24 July 2020, the Company entered into a conditional acquisition agreement to acquire the entire issued share capital of Global Asset Resources Ltd ("GAR"), for:
Initial consideration of AU$60,000 (approximately US$43,392) in cash and AU$1.04m (approximately US$752,128) in new common shares to be issued at a price of 2.75p per share. In addition, Richland made two non-refundable cash payments to GAR of US$29,340 on 31 July 2020 and US$22,818 on 30 September 2020.
Deferred consideration comprising potential future additional payments to be made to the sellers and the joint venture partner, Uwharrie Resources Inc. ("URI"), in cash or new common shares at Richland's sole discretion, of, in aggregate, AU$1.5m and AU$3m, subject to the achievement of certain material, value-generative performance milestones, or the occurrence of certain vesting events within five years of Admission.
GAR, v
The consolidation was a good bet.. hoping others see value in this range when we open.. limited shares and lock-in and funding all bear good prospects. .. I have waited a long time for Richland. My largest holding and hope they will deliver for us all x
The stock closed at 0.328 on June 30th. The stock is, to be consolidated 10 for 1. The placement took place at a modest discount of around 17%. The MMs are short. They have the cash for 2 years of drilling and room for tons of announcements.
I heard there was lots of far east demand, where the love gold. Also heard applicants were scaled back a bit indicating that there'll be follow thru buying. After relisting.. Get ready for a ride and trust in those drill bits...