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In the last few weeks the company has raised 3.5 million quid at .05 and Paloma have sold 2 million quids worth at .05, that's a lot of money. I find it hard to believe whoever has bought the shares has not done some serious due diligence before parting with that kind of money. I believe Paloma disposing of their holding was always part of the plan and also suspect yesterdays events re Paloma would not be completely unexpected.
The deal was always a long shot but In my opinion the company is very undervalued even if the deal fails.
Let's not jump to conclusions cazbraz. Let's see what the lawyers have to say first.
Why oh why does nothing go right and 'according to plan' with my investments?!?!?! Arrrgggghhhhh Another £10K down the pan by the looks of it. Life experience sure is expensive - lessons learnt. :(
It does thicken I think or smell.
Thought we got rid of the Russians when we departed Georgia for Australia/Greece. Have we sleepwalked into more trouble?
Who knows?
Am I naive I wonder?
Interesting read.
https://www.gov.uk/government/news/uk-cracks-down-on-gold-and-oil-networks-propping-up-russias-war-economy
The plot thickens.
Should we not have had a RNS as who has bought Palomas holding as its a significant amount?
Well that will no doubt "throw a spanner in the works!" Just been reading some articles on Paloma.....
Looks like 8 months could turn into 8 years lol! Be grateful for other PI's opinions.
Today 16:13
RNS Number : 8338S
Rockfire Resources PLC
08 November 2023
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement, this information is now considered to be in the public domain.
8 November 2023
Rockfire Resources plc
("Rockfire" or the "Company")
Response to UK sanction on Paloma Precious DMCC
Rockfire Resources plc (LON: ROCK), the gold, base metal and critical mineral exploration company, notes the announcement made today by the Foreign, Commonwealth & Development Office ("FCDO"), a department of the Government of the United Kingdom (the UK Government"), imposing sanctions on Paloma Precious DMCC ("Paloma") and 28 other individuals and entities (the "Sanctions").
On 15 September 2023, Rockfire announced the execution of a conditional share purchase agreement (the "Agreement") with Paloma for the acquisition of 100% of Emirates Gold DMCC ("Emirates") and 99% of Emperesse Bullion LLC ("Emperesse") (Emirates and Emperesse are together the "Targets") (the "Transaction"). The Transaction would constitute a reverse takeover ("RTO") under the AIM Rules for Companies (the "AIM Rules") and thus the Transaction is conditional on approval of shareholders of the Company at a general meeting and the publication of an AIM admission document. On signing of the Agreement, Rockfire acquired 10% of the Targets and conditionally agreed to acquire the remaining 90% of the Targets, which is still currently owned by Paloma, on completion of the Transaction.
On 22 September 2023, Paloma notified the Company via a TR-1 form that, on 20 September 2023, it had sold its entire interest of 400,000,000 ordinary shares of 0.1 pence each in the capital of the Company (the "Ordinary Shares") in an off-market transaction (the "Disposal"). Following the Disposal, Paloma had and still has no interest in Rockfire's issued share capital.
In light of the Sanctions announced today by the UK Government, the Company is taking urgent legal in order to determine the impact on the Transaction. A further announcement will be made in due course.
The person responsible for arranging the release of this announcement on behalf of the Company is David Price, Chief Executive Officer of the Company.
Well I hope so :-)
Why that if we buy it that means we going to moon ??
Waiting for the due diligence on the acquisition to be completed. The company said 2-8 months, hopefully 2 not 8!
Explain to me why we still suspended don’t really understand
Bit of communication always helps, but somewhat insignificant….results of tests might be more interesting, gla
Well at least David Price is trying to keep us shareholders up to date with todays Rns and last weeks video presentation even though we are in suspension!! I see that as even more of a positive sign and although its a bit frustrating at least we all kind of know whats going on!! Although im sure there is a lot more going on behind the scenes regards Nobby
Patience when this relists will be a huge re rate
Hi Abracadabra yeah 2 to 8 months may annoy a few peeps needing money in the short term but we've all got to sit on our hands for a fair few months now ??
Really hoped this would pop so I could move the money elsewhere...2 to 8 months!!!
Cut short must not have much to say was supposed to be 1 hr allocation
I have quite a large personal holding here..... just as well not desperate to cash in.
Hi Nobby.. So anything between 2 and 8 months to complete the purchase. I have suggested that shareholders are regularly updated on progress say monthly? Looking likely to be quite a long journey.... hope it will be worth it!
It will be interesting what David Price has to say ?..............seeing as the share price is in suspension? ..............Also Im presuming he cannot say much on top off what we already know without releasing an RNS to the marketplace firstly?? Im already logged in and await with baited breath to see what he has to add and fingers crossed its all good? 5 minutes to kick off!! regards Nobby
... on ...Investor meet company....
0930hrs today....
..........
10p!