RE: Ricca Resources22 Mar 2025 10:42
Absolutely criminal what's happened at Ricca. Originally the company was hived off to concentrate on Atlantic's gold assets and provide long-standing shareholders a dividend return. But then, after Vincent Mascolo passing, they suddenly changed tack and decided to prop up Len's mates company Firering Strategic Minerals which was identifying lithium / tantalum deposits in Cote Ivory and struggling to find finance.
So now whilst the value of gold is near an all-time high, we can't take advantage, the Board has squandered Ricca's cash on a second-rate lithium project and now have impairments of $34,513,159. Absolutely staggering the ineptitude our board has shown relating to this matter and you'd think that any involved party would have the decency to step down.
As for Atlantic Lithium, I still hold all of my shares (albeit at a loss) but I don't think Ghana can afford not to ratify the Ewoyaa project, it is worth so much to them. If (or hopefully when) ratification takes place I see 20p easily within reach, swiftly followed by an offtake agreement and then perhaps a third bid from Assore. We live in hope...