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No idea yet Munchlet.
And well put below.
You're missing the point. The reason it's an RTO target is GAR ran out of money. Hence, rather than losing the whole kit and kaboodle, they back it into a listed shell in exchange for shares and future cash if certain milestones are met.
Lexington will now raise capital which the directors have a ton of experience in, complete GARs work and everyone's a winner when it goes up 10X.
Simple.
My Bad
Need to scroll down the RNS's rater than jumping on google.
Just excited
GLA
https://www.proactiveinvestors.co.uk/companies/news/17487/nyota-minerals-coo-tucker-to-take-over-ceo-role-melissa-sturgess-remains-chairman-20969.html
Dont want to fill BB with rubbish or stuff already known : but this team look good
https://www.weare121.com/121mininginvestment-cape-town/speaker/bernard-olivier/ - The new CEO
Is this going to be what we are waiting for ? Im not sure what to expect as ive never been in the RTO situation.the GAR company quote from the foot of the RNS doesn't even sound like they could afford a digger!!!"For its financial year ended 30 June 2019, GAR incurred a loss before tax of AU$250,626 and as at 31 December 2019 had unaudited total assets of AU$70,589 and net assets of AU$59,256."
I think there is a very good chance of a premium because this is effectively an IPO not and RTO. Its a brand new business and depending on the quality of the prospects, they can ignore the price it went off the boards at three weeks ago.... Anyway, let's wait and see. We can, at least. have grown up conversations about this now that the waiting games are over and everything is above board...
AS mentioned in a post elsewhere, there is potentially 200X upside on this stock, 4 times over, if I were a betting man, I would hold on to this one like a prize clam!!!! You've got 4 shots at glory here and we know, from what we have been told today that there are shows of gold in all of them and detailed geology in at least 2 or 3 of the prospects, I like it....... gets the juices going, just like a nice clam!!!!
What link is that Milli? He is quite key in all this I suspect....... Do you know something we don't? Spill the beans....
Hi munchlet
I hold GWMO - so trying to not do the x ramp thing but its worth a look see whats happening over there - just on the sentiment of GOLD plays for interest / gauge of the sector at the moment.
Looks like we stuck with it and a good prize ahead with RLD - Now soon to be LEXINGTON gold (- love the name lol).
Thanks as always for your posts
GL mate
great spot milli.
GL
Great News here, this is with haste.
A premium placing would be a blessing. Has anyone spotted Mark Greenwoods link yet.
With Q3 as target for Admissions Doc, and a bill to pay in a few days time.
This is almost done.
Plus Gold is the talk of the town.
OK. I have had a look now. The thing is, the gold is there!! Its not a question of "if". This makes it exciting because for at least three of the prospects, its been mined there before, and sometimes, like Barite Hill, quite recently. So the real question is; "How much is there?". That's why they are doing all the drilling on the more advanced prospects with a bit of aerial and electromagnetic to see in the not so well explored properties, what maybe there. Compared to many gold exploration plays, this puts them way ahead of the game!! They already have a really good idea where the gold is and have the opportunity, if they hit paydirt, to acquire acreage in the area. So what's it worth?
Well, let's take a look at the Haile example. That was sold in 2015 for US$ 850 mn when the gold price was $1,150/oz and cost of production there is 900/a ton. The gold price is now $1,950/tonne. It does not take a genius to work out that this deposit is probably worth $2bn right now. So Lexington has 4 prospects, not just one in a very interesting area, with lots of promise that has been underexplored. Each one has the potential to become a Haile until proved otherwise. How much is each option worth? Well as a punt, if each one is worth say $5mn each and they conservatively have the potential to become worth $1bn each lets say, we are buying in at, in horse racing terms, 200/1. So those are our odds, if it 2 of them come in, its 400/1 if all of them come in, its 800/1. So if its capitalised at $20mn (GBP16mn) I would say that's quite a deal!! So they are raising lets say GBP3mn, lets assume the shares in issue double to raise the cash required. It indicates that the stock is worth more than double the pre suspension price, (3.7mn market cap, + 3m in new shares= GBP6.7mn) vs GBP16mn punting horse racing value.
I would say this is definitely worth a punt. Its not as if this horse is an unknown quantity too, we know it has form, Lexington just needs to prove its fitness to win races. This will be a very interesting ride.
Fill yer boots!!!
Munchlet
Thank you -appreciated Jonno
Its Automatic. Don't worry. They should inform you as long as you have ticked the box saying you want updates in this on line world!!
Would someone be kind enough to tell me whether ,if the RTO goes ahead and the company changes its name to Lexington Gold whether as a share holder I have to inform IG trading~ (my shares are with them ) or does it happen automatically Thank You .
A lot of info to take in but on first glance this looks really good. The potential here is huge. If they find and start producing gold the sky is the limit. Good to see directors agreed not to sell any shares for 6 months after RTO completion. I think I will be following the money here. If all major investors stay invested, so will I. Long stop date is 31st October so everything must be agreed, passed and signed by then. We will know what the new SP will be and then decide if we think it can go higher. If they find a bucket load of gold, up up up and away we go, major multi bag. I’m definitely giving this one time to play out, the potential is huge. Need to do more research on these 4 projects but from what I can see, this could be a bumper pay day if you have the patience
I am sure these guys will consolidate to make the price sensible. My suspicion is that these guys know what they are up to and will treat this like an IPO rather than a placement in an existing business, which is absolutely correct. they will try to relist and place at HIGHER prices than suspension. Looking at what they have to put in, I think they maybe onto something very interesting. Looking at details now. Remember, this group did Aquarius Plats years ago, that went fm $20mn mkt cap to 4.5bn....... Every picture tells a story!!
Thanks Munchlet. Encouraging. I need a share price of 2p (pre consolidation) to break even. Lets hope the placing is not too big.
It's a bloody stormer. 4 different locations in an historic gold producing area with lots if work done already. There's a huge gold mine in the area, Haile.. Around 200k oz per year, production cost 700 bucks a ton. Similar geology. What's not to like with developed country infrastructure and laws already in place.
We're off to the races.... MMs eat your hearts out.. There will be a placement. I'm sure you should all be queueing up to get hold of it.
Oh ye of little faith, be chastened!!!
Good to see some action, but is this a good deal? Anyone any idea?
Lexington Gold - catchy
Not a bad time to be in to Gold !
Is happening!
Yep another EUA and RLD holder here..
I admit I took some out pre suspension but enough to be super chuffed if we do an EUA rerate post suspension.
Fingers crossed folks!!
Yes, it's happening price wise faster than even I anticipate. Long term objective, $2600/oz. In a couple of years...
Let's wait for the RTO announcement, then we'll all be able to have grown up conversations about the future..
Interesting times gold over $1900 an ounce and has touched 1907-I hope the RTO goes ahead into the 4 hopefully productive mines