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0930hrs today....
..........
10p!
This deal fully funds them for the Greece assets for next stage of geographical studies and that will hopefully value at 6p in future not to far
6p? are you insane?
I can see this going anywhere from 3p to 6p peaks gla
Just looked in and seen the rns red dot but only interim results n was hoping for an update ref suspension etc and whatever else ………. Still awaiting with bated breath n fingers crossed it’s all going to work out ok? Regards everyone Nobby
How do you know that?
700,000,000 shares been added rns abouts to land
Thanks, Gloucester10. I missed that one!
Depending if they get that sorted while it's suspended but the valuation is initially with the 10% ownership this will be 2 5b then 14m will be done after that stage is complete
Don't forget the RTO raise of £14.7m at 0.5p which adds in a further 2.94bn shares. So maybe halve your proposed numbers.
I’ve been thinking on how to value ROCK when it comes out of suspension. Just to be clear, I’m not a valuer; this is just what I think could be a reasonable estimate. If anyone has any comments or better ways of valuing ROCK feel free to post.
Based on the below, I’m thinking 2-3 p is a reasonable price. Which makes sense why the II’s were willing to come in on the deal at a premium to market value.
Here are the details with two different scenarios.
Details
Target acquisition EBITDA: 2.46 M £/yr.
Target acquisition net assets: 45.4 M £
ROCK shares on issue post deal: 2,544,547,293
MCAP of ROCK pre deal: 6.6732 M £
Valuation scenario 1
ROCK Valuation = Acquisition EBITDA * 10 + acquisition asset value + original ROCK MCAP
ROCK Valuation = (2.46 x 10) + 45.4 + 6.67 = 76.67 M £
Scenario 1 ROCK valuation = 76.67 M £
Scenario 1 ROCK valuation share price = £0.0301 (3.01 p)
Valuation scenario 2
ROCK Valuation = Acquisition EBITDA + acquisition asset value + original ROCK MCAP
ROCK Valuation = 2.46 + 45.4 + 6.64 = 54.53 M £
Scenario 1 ROCK valuation = 54.53 M £
Scenario 1 ROCK valuation share price = £0.0214 (2.14 p)
Thoughts?
Has anyone else done a valuation estimation?
They seem in a hurry to get this over the line plus Paloma want their cash….I reckon done by Xmas
Just wish I had put more in here!
.....or Tuesday
Three to Six months, before we are trading again.
I wonder if Paloma's ownership was the reason Emirates were suspended which would explain why they have sold there holding in Rock, thus potentially removing the reason for any blocking of Emirates relisting.
It was bugging me why Emirates were suspended from the UAE's good delivery list, so I've just googled it as Q and this is what came up :
July 15, 2023
On July 7, Emirates Gold DMCC was suspended from the UAE's Good Delivery List, following concerns raised by the Bullion Committee, chaired by the Ministry of Economy. The committee expressed worries regarding the ownership of Emirates Gold and its possible connections to alleged money launderers.
That makes more sense to me as to why we're able to (hopefully) pick up the companies at a bargain price. Presumably they're hoping that Rockfire will present as a 'good, clean' company to the Buillon Committee, and will then be allowed to relist and process gold, silver etc. ?!
Fingers crossed !!
We are purchasing companies owned by them so it seems they just want to fully cash out for whatever reasons
Main thing is this is being massively backed by iis at a premium and the amount raised us multiples of current mkt cap
Future looks very bright imho
Paloma bought in June at 0.22 and are selling at 0.5, 4 months later or about 125% return which isn't too shabby. Maybe the new direction is not what they wanted and they didn't want the dilution that would come with the RTO without adding more funds. The new partners are maybe likely committing to the RTO situation as they know the plan. I can't tell if the next step is good or bad. It seems a little strange but I can run with it for a while and at least it starts at 0.5 which is up from 0.365. I await progress with interest.
So the entire RTOwill be funded by a premium equity raise at 0.5p
You would imagine there will be takers for Paloma shares on same terms expecting an off market transaction
Ignore that one lol it seems Paloma are selling their assets to Rock so they won’t be here for the ride looks like they are being replaced by other iis, hopefully there will be an orderly transfer of stock.
Just 2 new INSTITUTIONAL investors snapped up shares at a substantial premium…..
Imho this will open well above 0.5p
Paloma are here for the lon. Run and have purchased shares at a premium these are serious assets the company is buying that are a step change in the scale of the company
...we wait!