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Yep....in hands of regulators as we speak. I feel Rule 11.1 "change in business activity", suggests a Panton PGM buy in for Red Emperor. If its for the residual 20%, then that would equate to 3million AUS Dollars I guess, because the original sale price was 15 Million and Panoramic sold 80% for 12 Million already. What seems to have shifted is the manner in which Platinum group metals can be extracted. There is a new process in the making which drastically reduces cost, waste per KG. Plus Platinum and other rare metals are at the heart of the EV revolution. The mine itself is very close to Paneramic's Savvanah operation and close to the east/ west Highway.
https://www.australianmining.com.au/news/new-platinum-extraction-method-to-aid-kimberley-projects/
If so, could we be looking at 20% - the residual held by Panoramic? Making RMP a decent percentage stakeholder?
Could be good news all round after 10+ years; I'm quietly optimistic- so we shall see.
on a final note, surely we have to see a submission to AIM also before a re-listing can commence
From Half year report:
"REVIEW OF OPERATIONS
Corporate
During the reporting period, Red Emperor continued t “Re-admission....
...The Company has recently made an application to ASX in respect of a proposed transaction under ASX Listing
Rule 11.1, which is under consideration, and the Company’s ordinary shares remain suspended from trading
on both ASX and AIM."
So in hands of ASX regulator?..
Which presumably refers to investing in the Panton Sill project in some way. As reported in Western Austrailian share news.
That would be nice. With the amount of goes GB has had a getting something, surely he can't keep striking out.
I reckon an update by mid / end March- maybe next week
I'll keep my fingers crossed Swify, I'm not in a rush.
possible news
https://hotcopper.com.au/threads/next-week-maybe.5935276/#post-51480325
Belles...RMP are a cash shell now and as such are in suspension. With talk of a deal in the making of some description- "in 5 days" ...which was 5 weeks ago. !
Well, that may still happen medium term GPRD- assuming they got something that is. Over on Hot Copper there's (Unsubstantiated ) talk : " reporting that RMP buying into The Panton Sill project. Aussie PGM mine prospect." That could be good where state of that art extraction techniques could ratchet production of rare metal (platinum @ 570 dollars KG included). PAN is a ltd co also, and might be looking for short route to AIM and ASX- here's hoping ...again !! DYOR
Rmp do they still exist, I had shares in them years and sold out....I’ve followed em on n off since but now nothing is showing?
I'm going to need around 4p to get my money back!!!
Last chance cafe with this shower of schite IMO. lets hope we get our initial back for those who are happy with 1.6 / 1.7p ...if it ever reached that again!! .
Officerfigby - I do agree with timing and you probably sensed the frustration.
I suppose the point about the EGM was really meant when we have a clearer picture or on better terms - I just don't have much faith at all with Bandy and that hasn't changed or at least until he actually pulls off something worthwhile.
Hot copper Aussie Forum reporting that RMP buying into The Panton Sill project.
Aussie PGM mine prospect.
You can say all the failure business all true. But the company has become just a nigh risk venture natural resources play. WINX was just the last one, and when each hasn't worked out it has gone into into hibernation. The alternative is going bust probably.
It seems that they were in for the Borba gas drill but companies couldn't agree and SGC went on alone (drilling now).
Obviously holding shares of a company going into suspension is a bit of a risk. But then going for voting management out while suspended will only give one outcome IMO.
Like others who knows what will happen here. But from my own experience being a long term holder, the consensus appears to be the same from other people in that Bandy has systematically failed shareholders over the years, which can only be described as unsatisfactory performance and with that in mind, could shareholders request as an EGM for his removal because all he is and has done has taken an over aggestrated salary for poor performance!!!