The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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IPO per SEC filing expected to closed August 2022 with pricing between $4.15 to $5.15
https://www.sec.gov/Archives/edgar/data/0001865833/000121390022047012/ea158324-fwp_elephantoil.htm
and
https://www.sec.gov/Archives/edgar/data/0001865833/000121390022047008/fs12022a1_elephantoil.htm
Major shareholders in EO are listed in the presentation document
Main ones being
Matthew Lofgran 2.88m shares (22.1%)
Gavin Burnell 2.22m shares
Adrian Beeston 1.32m shares
Stephen Lundy 707,822 (5.9%)
Peter Elliot 230,811 (1.9%)
According to the last Red Rock RNS the EO holding is 397,873 but this is not shown on the major shareholder list, probably an aberration in the rush to get the presentation completed.
no probably because RRR don't hold anywhere near the holding you think they do. another AB falsehood no doubt
Probably an oversight I suspect but it may be that some are held as collateral by Stephen?
The SEC disclosure requirements are similiar to Canada. Shareholders who disclosed are: 5% shareholders, related parties, officers and directors.
One suspects the takers of the loan notes are major shareholders of Red Rock and seem to want as many RRR shares as they can get within the restrictions of AIM.
The Elephant Oil listing is a catalyst but by no means the only aspect of significant value appreciation, let us see where this goes but it is often worth following the money.
If the EO IPO is in demand who knows where their share price will go, for every $1 increase RRR stake increases by $400,000 .
Interesting times.
keep the lights on issue of shares, pathetic AB
Think you will find the opposite is true.
Loan notes are a win win for the recipient. 12% interest on do nothing or covert at 0.6p with an option for further buy ins at 0.8p.
As a fund raise like all RRR activities it dilutes existing holder. Was stupidly thinking of a small dabble but the terms of the note are unreasonable to existing holders and seem to suggest the company has very limited options in the money market. Not for me
Increasing volume and a rising share price is always a good sign on AIM, it is also interesting that POW are rising, one wonders if the IPO of New Ballarat Gold is anywhere closer.
So much could happen here to drive value, not been like this for quite a while at Red Rock.
I mentioned a while ago I felt certain entities were picking up any loose shares on offer here, it seems this process is still ongoing.
IMO the resolution/payment from Congo is getting close-I suspect the small amount is to keep going on Congo and that it is close.- increasing volume and higher share price is the basis for my optimism
DYOR
Volume increasing again.
RRR interview this evening on stockbox at 7pm
the interview will done so that the raising of cash, more dilution will be explained away AGAIN.. pathetic man that AB and a pathetic dog of a company
The facts are RRR thanks to AB had a asset that was stolen from shareholders and was sold for $400M.
So he got something right.
Fingers crossed the arbitration decision award is in our favour.
Plus the elephant oil IPO is finally happening in the coming weeks
There appears to be a persistent buyer of RRR equity over recent months, anything that is sold is quickly taken off the market, it seems a re-rate is happening before our very eyes, on AIM moves can be gradual or sudden, upside momentum is building.
The shares traded at 1.35p last year, this was before the potential of a significant monetary outcome in the Congo.
The interview this evening will be interesting, the current m/cap of RRR is only £7.5m.
AB has had many failures, but only takes one or two assets to transform the company
3M buy reported late.