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We can't do much, its just a waiting game - STGR paid for the 10% option on Kasperske and we gave the 500k loan to signature so there are large shareholders in STGR including Brett, Shishir & others who wouldn't let this go to pot surely?!
Brett was involved with Signature gold before he arrived on the Stratmin scene so i would think he still believes in a use of the 2 companies remaining in affiliation
Who knows really, we have the benefit of the cash in hand which is attractive and also have given them the 500k working capital to continue operations in queensland. TBH I dont know what to bloody think anymore im just ****ed this has dragged on why wasnt this deal complete in 6 months the CEO is involved with that company as well FFS!
Surely the main attraction for Signature Gold was Stratmin's listing... without that they might as well go it alone and dump the baggage (sorry STGR shareholders). I'd be surprised if this comes back at all or if it does that the terms are anything like holders may have expected prior to this news. I would expect BoD to look after themselves, pay themselves monies they (would) have taken in shares, run down the cash and then switch off the lights.
I disagree, as a cash shell it was pretty much identical to a new company listing....a new admission document etc etc would be required. The only difference is the timescales with a new company taking bloody longer.
Even Arminius couldn't say today's RNS was bullish! Stratmin's main asset was it's listing on AIM. Listing fees are substantial so I can't see anyway back.
In the same boat as ALO holders
That was a shocker!
Is this really the end or just a delay until they get the placement funds?
Shame this had a bad ending. Shareholders were well and truly shafted.
RNS Number : 8693M Stratmin Global Resources PLC 02 August 2017 2 August 2017 Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement. StratMin Global Resources Plc ("StratMin" or the "Company") Update on Reverse Takeover and Cancellation of AIM Listing Further to the Company's announcement of 5 July 2017, StratMin announces that it has not received the £5 million subscription for 206,700,000 ordinary shares of 0.01 pence each in the capital of the Company ("Subscription Shares"), which it had conditionally secured from Axel Management Group Pty Ltd ("Axel"), an Australian incorporated investment company. This has been due to delays in funds being transferred from Axel's Hong Kong sources, which the Company has been advised relate to exchange control approvals. Axel is currently unable to confirm specific timing for this process to be completed. The Company is also currently in discussions with a number of other potential investors to raise the required funds to complete the acquisition of Signature Gold Limited ("Signature Gold"). The Company was suspended on 2 February 2017 pending a reverse takeover of Signature Gold. From that date the Company had 6 months to publish an AIM admission document ("Admission Document") and gain approval of shareholders of the Company at a general meeting. As this has not been achieved within the 6 months since it was suspended from trading on AIM, admission of the Company's Ordinary Shares to trading on AIM will be cancelled, pursuant to AIM Rule 41, with effect from 7.00 am on 3 August 2017 ("Cancellation"). The Company intends to complete the acquisition of Signature Gold following cancellation and seek admission in due course. Further announcements will be made by the Company as necessary and will also be available on the Company's website.
Cancellation from AIM tomorrow. Funds haven't turned up. Will seek readmission... they claim. Well that's a sack of s##t for holders.
And still no formal update on the fundraise?!
And still no formal update on the fundraise?!
I don't like delays one bit, why hasn't there been any confirmation on this placing?!
Oh I so hope so, watching these sit there coupled with my shares in Carillion and Azn ( at least that's the three shocks over I hope) be good to get some good news
Well we have a big cornerstone investor who has bought in at 2.4p evidently looking for a good return. This could be the next SOLG with several giant porphory deposits in q safe jurisdiction, lovely jubbly!
Got 10's thousands of these at 4p so any move up when they are relished would be good
Well August is fast approaching and we haven't received anything formal about that 2.4p placing lol!
Not long now. Shouldn't this open up at 2.4p considering that's what price the placing was at?
August maybe?
When is stgr going to be listed back on aim?
Don't forget that is just the beginning! They will be going for the several million ounce deposit that one of the top tier producers would happily gobble up.
very interesting last paragraph reads - While Signature/Tectonic does not yet have a compliant JORC resource, VSA anticipates that with the money from the funding these two should generate total compliant and non-compliant resources of around 880,000 ounces, which on a fully diluted basis implies a post money, market capitalisation of £25mln.