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Hey milli
I think most here knew what they were getting in to with RLD - I for one remain positive - its exciting stuff.
I've said thanks to munch / CC - and there are many great people here on this BB / oab/ flops/angel x/ JM ander
Nice to see some of the er.. ancient (time) holders come out and have a say - mostly positive..
Thought for the night winner is ..
MarkL
"Forget MMs crying in their beer, I had a stop loss set up to sell at .20, and it triggered today. really annoying,"
GLA
Marklong
"You have no faith in the team". Your words.
Why bother with the company at all.
Am no expert in mining but here's me thinking out loud.
1. The Brewer Mine, that a former miner gave up on and the American Government put back into private hands, now if it had gold why didn't the prev company develope and sell it.
Pancontinental Resources were super happy to have their offer accepted.
"We are thrilled to have been selected to explore the highly prospective former Brewer Gold Mine property on the gold-rich and underexplored Carolina Slate Belt in South Carolina."
"Underexplored" tells the same story many early stage explorers encounter.
Why was it abandoned by the first gold miner that had it, and why would a new one be excited to take it, when the last company found NOTHING. Check out Pancontinental and see how excited they are.
2. Tim CEO of Oriole Resources was once the Exploration Manager for Barrick Gold and while he was, he came across a Cameroon licence and had reviewed some of the assets of the then owner Stratex. He later said that he could have started a fresh company to go after that licence when Stratex gave up on it, instead took the offer to rebuild Oriole Resources in what could take some 5 years. Now Tim, did a great job with Reservoir Minerals which he sold for $360 Million to Nevsum (Canadian) who later went on to be bought for $1.5 Billion by Zijin (Chinese). Now why didn't Nevsum go after the mines Reservoir Min was working on and so on and so forth.
Again, it could turn out to be a lifestyle company, that's a risk holders are willing to take. If something is not good enough for you, sell it and move on.
One man's empty mine is another man's path to riches. Rings a bell about never giving up, give up and the gold could be one more shovel away.
MarkLong
Exploration'S' NOT Exploration
1. All PLCs are the same, every single one of them. Shareholders are used to fund projects to make money. Some take a long time, some do not. As soon as RLD announced it's cash shell position, it was clear it was going into mining (never short term kind of industry) so all shareholders were aware since the start of the year.
2. A placing is inevital to complete the RTO, as we would have done DD, the BOD are aware of the 4 FOUR mines and their likely potential. Mark Greenwood as a shareholder will realise his input the same way we would. Unless am missing something? As easily as he gets it back, so can we.
3a. "If they strike gold everyone wins big time." You're right here. The risk which all investors should know and accept is 'IF'. I will not complain if it's 4 empty mines, I will hold myself responsible and review my risk appetite. Hold ME responsible.
3. Not all explorations are successful, RLD can easily remain an early stage explorer. Find something decent, sell or go the route of joint venture. We have FOUR mines, FOUR times the opportunity.
The reward is in the risk, shareholders who held till suspension have taken the biggest and initial risk. I hope they and myself included, see a decent reward in the coming future.
MarkLong, your clearly from your posts well informed on RLDs history, from your post, you see no good in this company, the board and their skills. If with what you've posted you are holding. Imo you need to have a word with yourself. Buying shares in companies your disappointed in is really something.
Hi Boracic
What do you think of the current management team and the likelihood that MG putting in £500k menas there is something good going on?
Also - do you think he went over the 30% - but now does not need to report that?
Or do you think it was just the max he could buy without the formal T/O stuff?
Would you prefer Gold or Tanzanite? :)
PLC's are a vehicle to get crowd funding. The funders are the shareholders. Mark Greenwood could easily get his money back many times over if they can sell a target mine has having mass potential and asking everyone to help fund the exploration. If the exploration finds nothing they can ask for more money. Whilst the shareholders are funding this, The board would be receiving a handsome salary. If they strike gold everyone wins big time. If they don't you lose, everything. Investors in RLD have been here before with the previous mine. I think this will be much of the same, lots of hype. Lots of cash injections, miserable outcome. But that's the gamble. It could go the other way. BUT ask yourself this. With gold at such a high market value at the moment. If there was a real likelihood of find a good seam of the yellow metal, don't you think someone would already be looking or people with much deeper pockets would be in the running to buy it.... From the way this has gone and the lack of shareholder information that has come out over the past few months, I really don't have much faith in this team. I actually wouldn't be shocked if someone was placed to hype this up and get everyone worked up about the RTO. Time will tell.
This can only go one way, and that is a positive outcome. Mark Greenwood wouldn't have lumped in cash equating to 29% of the company, as a roll of the dice.
Numpty, fire away.
It seems Pancontinental Resources Corporation was given Brewer Gold early in the year. So that's gone.
Boracic
We're all looking for some Ackers
GL
Thanks milli - looks like a spooky old gold mine :)
Send in Scooby !
Boracic
Great posts - from a real LTH and I hope we all - profit.
Can I ask a few Q plse
Potential Target 1: Brewer Gold Mine South Carolina
https://brewergold.com/
"The purpose of this website is twofold: first, to keep the public informed of the hard work being done to protect human health and the environment; and second, to provide information to parties interested and capable of returning the site to beneficial use"
Thanks Gloster, confusing this not knowing who, when, why and how much !!
Johnny, the subject of the RTO will be those 4 gold projects. They most likely will be owned by an SPV, which will be RTO'ing into RLD. Oceana is being mentioned to signal to investors that they're next door so potential benefits like decent infrastructure, read across for grades and of course take over speculation etc.
From last RNS:
The Board has now identified a suitable opportunity and is currently in late-stage discussions with respect to a potential reverse takeover transaction in the mining sector, in line with its stated strategy, and anticipates being able to enter into such a transaction in the short term (the "Potential RTO Transaction"). The Potential RTO Transaction involves the acquisition of majority interests in, and operatorship of, four gold exploration projects in North and South Carolina in the United States located within the wider Carolina Super Terrane (formerly the 'Carolina Slate Belt'), which i) also hosts the producing Haile Gold Mine owned by OceanaGold Corporation (TSX/ASX: OGC) who acquired the Haile Gold Mine be acquiring Romarco Minerals Inc. in 2015 for C$856M; and ii) was the site of the first documented gold discovery in the USA in 1799, with North Carolina being the biggest gold producing state until discovery of the Californian gold deposits.
Oceana is operating in the vecinity, making quite an impact in the local economy so is being used as benchmark re our possibilities.
Im a little confused isn't RTO a takeover from another company trying to get access to LSE, rather than new ventures by RLD.
Why mention Oceana could they be the company?
https://panconresources.com/projects/the-jefferson-gold-project/
The former Brewer gold mine produced 187k oz Au from 1985-93 and has been an EPA Superfund site controlled by the federal and state governments for 25 years
The government plans to put Brewer back into private hands in 2019
Jefferson Gold Project surrounds Brewer
Highlights from the rns:
" The Potential RTO Transaction involves the acquisition of majority interests in, and operatorship of, four gold exploration projects in North and South Carolina in the United States located within the wider Carolina Super Terrane (formerly the 'Carolina Slate Belt'), which i) also hosts the producing Haile Gold Mine owned by OceanaGold Corporation (TSX/ASX: OGC) who acquired the Haile Gold Mine be acquiring Romarco Minerals Inc. in 2015 for C$856M; and ii) was the site of the first documented gold discovery in the USA in 1799, with North Carolina being the biggest gold producing state until discovery of the Californian gold deposits."
Highlights from the article:
"Strategically located in the Carolina Slate Belt, the Jefferson Gold Project is on the northeastern edge of two former gold mines – Brewer and Ridgeway gold mines and 15 km from OceanaGold’s producing Haile mine."
So with 2 in the North and 2 in the South, what if
Brewer and Ridgeway Gold Mines are the 2 in the SOUTH CAROLINA that the government are looking to privatise. 2 down 2 to go?
This is just me searching online, no proof or evidence that this is it.
If you want an interesting backgrounder for historical gold mining in the Carolinas try this : http://nationalregister.sc.gov/SurveyReports/HC29003.pdf
We could be in for a fascinating journey!
GLA
In a non Hong Kong democratic world, we are entitled to different opinions, however, I think the MMs were just using the maths, most AIM listed companies who are RTO candidates, end up going bust. That's why they are short.. I don't blame them, as you point out, they've been doing this for years. They have just been caught with their pants down this time.
Over the last 6 weeks they have been trying to walk this stock down, even on the morning of the 30th... Big time!!! They failed, pure and simple. They have bigger fish to fry I assume. It'll be interesting to see what level this stock comes back to trade at, They still need to cover their positions.. I can't wait!!!
I read somewhere this company had tax losses, can anyone here care to clarify the position?
Brgds
Rld are expecting completion in the short term. I think this is defo a done deal just paperwork delay. So who is this exploration company? They have 4 ongoing exploratory projects on the go in a gold rich area. I presume the aim is to find a load of gold and sell it to a miner such as Ocean. Here hoping one or all of these projects have already found the mother load and are well into their tenure of searching. Who are they though???
Munch - seems a few people pi**ing on the camp fire but obvs a few more want to chuck on some more wood and have a nice V and T.
Appreciate your posts
Follow The Money.. :)
GLA
Ah thank you Gloster, I missed the earlier info. Much appreciated.
Although I think the project looks very exciting with respected management....the return sp will depend on consolidation/financing etc and of course how the market perceives the long term prospects ....time will tell
munchiet I am surprised you know the market makers book so well....may I be so bold as to sugest you are talking utter balls .....Market Makers will be positioned how they see fit it has been telegraphed for months and months with huge swings they will not be ocverly exposed either short or long and if they are long it will be because they think it will go up on release from suspension or vice versa...these market makers have been doing this job for years and no bank would sanction just a position. Besides they will probably be offered some shares from the placing before it comes to market....hope that helps I do not mean to be rude
"Operatorship of, Four Gold Exploration Projects".
In
North and South Carolina.
Nice