RE: Update10 Jun 2024 17:11
No idea what is going on here, 2 RNS's today, why the general update ahead of the 'deadline' concerning the POW deal, surely that could have waited.
IF Lenigas is involved concerning Aussie projects that has to be a positive, he has contacts, another positive is that POW CEO Sean Wade is no mug, he would have known RRR was cash strapped and regularly fails to deliver on timelines however he did the deal and was asked about it at a presentation evening, one of his interesting comments was that POW would be aligned to the RRR share price to deliver value from NBGC, he also stated that he expected RRR to list the project.
Maybe the entire project is going to injected into a shell company (think KAT) where Gervaise Heddle, Paul Johnson and Sean Wade are involved, now that would be interesting, RRR & POW given cash/shares in lieu, who knows?
Wednesday should be interesting, the market is not showing the usual signs of placing forward selling either.