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Asmalik, the RNS are what the company can tell the investors is their plan. Behind the scenes the company are looking to raise funds to pay for future drilling work, along with dotting 'i's, crossing 't's and with covid this admin paperwork takes much longer than in the past. Patience. Like you I am looking foward to news and to following Lexington Gold's journey over the next few years.
The RNS's is what you want my friend.
https://www.lse.co.uk/rns/RLD/suspension-richland-resources-ltd-l9tnnu0wa7okkwk.html
https://www.lse.co.uk/rns/RLD/proposed-reverse-takeover-transaction-ld3r8i5k34z64g1.html
https://www.lse.co.uk/rns/RLD/interim-results-for-half-year-ended-30-june-2020-zy5x6ksblf5vqs3.html
You could be very happy with your 500k share investment not just upon relisiting but should the expected Precious Metal bullrun be as intense as some expect then even my 85k shares could be a very strong investment to hold/ accumulate on for a few years with the obvious derisking and such along the way.
Can someone tell me what’s happening with this share.
I’m holding a small amount 500,000 shares and just want to know how long we need to wait for this share to get back into trading; and what’s the reason for being suspended?
Where to read about such Information.
Best of luck to all
Key Highlights:
Proposed acquisition of GAR, which via its wholly owned US subsidiary, holds a 51% interest in four gold exploration projects in North and South Carolina, being:
the Jones-Keystone Loflin Project
the Carolina Belle Project
the Jennings Pioneer Project; and
the Argo Project,
(together, the “GAR Projects”).
Initial Consideration: an aggregate payment on Completion to the sellers and URI of AU$60,000 (approximately US$42,500; £33,250) in cash and AU$1.04m (approximately US$737,500; £576,750) in new Common Shares to be issued at the price of the Proposed Placing (which remains to be determined). In addition, Richland is required to make two non-refundable cash payments to GAR of US$29,340 on 31 July 2020 and US$22,818 on 30 September 2020 if Completion has not occurred by such dates.
Deferred Consideration: potential further future payments to be made to the sellers and URI, in cash or new Common Shares at Richland’s sole discretion, of, in aggregate, AU$1.5m (the “Tranche 1 Deferred Consideration”) and AU$3m (the “Tranche 2 Deferred Consideration”), subject to the achievement of certain material, value-generative performance milestones, or the occurrence of certain vesting events within five years of Completion. Subject to an earlier occurrence of a Vesting Event, the Tranche 1 Deferred Consideration will fall due upon confirmation of a prescribed minimum estimated level of JORC 2012 Compliant Resources and the Tranche 2 Deferred Consideration will fall due on completion of a pre-feasibility study confirming a pre-tax NPV of more than US$50m in respect of any of the GAR Projects (with the Tranche 1 Deferred Consideration also falling due upon the achievement of such performance milestone if not previously triggered/paid).
Proposed Placing: the initial cash consideration and the enlarged group’s planned initial two year work programme and requisite working capital requirements is intended to be funded via the issue of new equity by way of the Proposed Placing to be conducted in the short term in connection with the Proposed Transaction. Peterhouse Capital Limited, the Company’s existing Broker, will act as bookrunner to the Company in connection with the Proposed Placing.
Board Changes and Other Proposed Corporate Changes:
Realignment of the Board with the appointments of Bernard Olivier and Melissa Sturgess, with immediate effect, who together have significant experience of both the natural resources sector and certain key global capital markets.
Proposed name change to Lexington Gold Ltd to reflect the transformational nature of the Proposed Transaction.
Proposed share capital consolidation to reduce the total number of Common Shares in issue on Completion and re-admission of the enlarged group to trading on AIM, and certain other changes to the Company’s Bye-laws to bring the Company into greater alignment with more UK market standard corporate governance practices. Further details of the proposed consolidation and c
I just hope this gets listed by the end of this month!
That I am. Between RLD, EUA and now UFO; I am becoming a veritable patron of patience lol. Kinda EML as well but that will come good more quickly than I want I imagine (wanna accumulate but alas as I am asset rich, cash poor). Can't complain though, for a dude who has not paid tax due to low earnings these almost 5 years now is close to being sat on almost 2x times his yearly wage... and RLD anit even relisted yet. Makes a big difference to the days of just averaging down on SXX I can tell ya :)
And too think, gold could be 2000 USD/oz when relisting... with 4 "highly prospective" golds claims. Hoping this blows ROCK out the water even if I am invested over there.
We are all getting good at this patiently waiting business. Hoping for a bit of news to wet the appetite soon!
Ok thanks for reply
Cheers and GLA
Numpts, sorry just back in here. I think your best ask is to call them. I'm told that their underwriting dept is led by a lady called Lucy. I really don't know the minimum, but if you want stock, you are more likely to get an allocation if you ask for a larger amount than a smaller one... That's all I can say for now... But move fast... Cheers.
Only here could numpty be discussing shares with munchlet!
Hi munchlet
Great to hear from you.
I’m excited as I’m sure we all are.
I went through your posts re applying for more shares with Peterhouse and I have a couple of questions if you have a minute or two please.
I would like to get more is there a minimum ?
Do you have to hold RLD to apply?
What happens to existing shares - holding in an II account myself - will they automatically become un suspended ?
Apologies for numpty Q’s...
Really appreciate any reply
TIA
Hi there 24, you are right on the money. Just one quarter Haile, will put us in a great position. But we have FOUR chances at it, not just one. Heard from one of my mates who has an account with Peterhouse that the Richland Subscription Letters are to be sent out soon. Get your dosh ready guys and if there are any of you who have not put your hands up and want stock, contact Peterhouse ASAP. Looking forward to seeing a few MMs with sad faces in a few weeks!!!! Cheers for now, enjoy the quiet before it starts to get seriously hot!!!!!!
Drilling Results. If they can get one mine to emulate Haile, then that is some upside.
Interesting Times eh Jonny ?
GLA
So when are we thinking will be the greatest increase
Placement
Or
Drilling results
We're on our way. The fact that the Chairman has dipped into his pocket and whacked in 100K US$ says it all. If this were a hopeless case, he would not have done it. I bet he will swop his loan for stock in the placement!! Remember, he is a professional geologist!! And has had some great scores in the past!! MG is already in the party, the fact that management has put its hand in its pocket is all you need to know.
This is extremely positive and I am sure that we'll be getting more positive news soon. But NOMADs are a nightmare to deal with re dotting the I's and X'ing the T's, they don't seem to understand the concept of risk. Patience is a virtue. I look forward to hearing progress reports on all FOUR of our projects, yes, FOUR, not one, soon after listing when the management will be less constrained by the NOMAD straitjacket.. Cheers to that and to all fellow shareholders!!!!! The light at the end of the tunnel is getting brighter all the time!!!! Can't wait to see the MMs screwed!! Hahaha......
"Management is optimistic that the Proposed Transaction and associated placing will complete"
Almaretta Pty Ltd (a company controlled by the family of Mr Nealon) has agreed to provide a $100,000 working capital facility; and
-- Management has successfully raised money in the past.
This is as good as done, but its a game of patience now. Within the coming weeks is acceptable.
Not long to wait by the sounds of it. Whos gonna come good for me first, EUA or RLD? Got a lot more shares here so I'm a happy chappy either way and with a looming Precious metal bullrun, Lexington Gold could hit the ground running.
GLA and good health...and to work I go with a nice suprise from RLD :)
Outlook: The Company is currently focused on completing the due diligence exercise, and various technical, legal and accounting workstreams in respect of the Proposed Transaction which will culminate in the publication of an Admission Document and formal notice of a shareholder meeting to, inter alia, approve the Proposed Transaction. Concurrently, the Company is undertaking the proposed placing announced on 27 July 2020 to fund the initial cash consideration and the enlarged group's planned initial two year work programme with Peterhouse Capital Limited, the Company's Broker, acting as bookrunner. The Board currently anticipates that it will be in a position to publish the Admission Document and a formal notice of Annual General Meeting, in the coming weeks.
In this environment nothing is quick
Here's some light reading from the Beeb, while we twiddle our thumbs as the clock ticks down to a hopefully newsworthy 30th Sept... https://www.bbc.co.uk/news/business-54230737
Agree re silver - I m in GWMO
Good silver and gold potential and a lot of copper
Silly mcap and soon to be producer of gold
Nai / but worthy of some research
GLA
I echo ohmni thoughts as well .. silver imo has more rerate potential and am in ufo too, but it always follows gold which is more desirable and has more to give and grow.. silver has long been forgotten but with gold so far above it has to catch up considering its antibacterial medical properties and industrial uses.
Thought this was going go through reasonably quick!
Don't forget that during precious metal bull runs silver typically has the greatest gains and the silver to gold ratio some argue is well off so silver could really shine in the current market conditions. Hence why I am in UFO. But yeah, here's to being in Lexington Gold as well :) And ROCK.
September has been an interesting month for me between EUA and UFO so hopefully I can round September off with RLD news as well. Would be good to get an idea of if relisting is on for this year or into the next.