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I was just thinking that as well.

The way it's written its going from zero to less than 3%.

I'm just presuming it's sells.

But a wall of blue here!

Thus, with a market cap at sub-£750,000, serious players on board, a projected cash pile of £1.1m, and a bullish precious metals market (as the global economy moves towards recession) that is ripe for a substantial reverse takeover, Richland Resources is profoundly mispriced. So go LONG and take advantage of this market anomaly.

Oaktree Capital Management, who once opined that, "All intelligent investing is value investing; acquiring an asset for less than its value means seeing what everyone else sees and thinking what no one else thinks."

This is why it is absolute folly to watch Richland from the sidelines. If you understand the modus operandi of the players on board, you’ll get strapped-in at the earliest opportunity. And with such a narrow ‘free float’, the revaluation of the company is likely to be a timely affair. Better still, the three principals’ network of contacts in the upper echelons of the natural resources sector is something to be respected.

And with regards to Richland’s current cash pile, I’ve managed to crunch some numbers for you:

1. At the December 2018 year-end, Richland had US$0.03m (£248,000)

2. On July 04 2019, the company raised £100,000

3. On July 18 2019, the company received CAD25000 (£15,000) from Fura Gems Inc. as part of the non-refundable, upfront, option fee payment.

4. On August 02 2019 (7 days after the option date…), the company received CAD25000 (down from the original CAD125000) from Fura Gems Inc. This was also non-refundable.

5. On completion of the entire sale of the Option Assets to Fura Gems Inc., currently pencilled-in for August 19 2019 (Monday) or shortly after, Richland will receive the ‘Cash Consideration’ of US$185,000 (£153,000) plus the corresponding increase in the Cash Consideration of CAD125,000 (£78,000).

6. On completion of the entire sale of the Option Assets to Fura Gems Inc., currently pencilled-in for August 19 2019 (Monday) or shortly after, Richland will receive 4,859,825 new common shares in Fura Gems Inc. At CAD0.20 per share (yesterday’s closing price), the new shares are worth CAD972,000 (£604,000)

7. On completion of the entire sale of the Option Assets to Fura Gems Inc., currently pencilled-in for August 19 2019 (Monday) or shortly after, Richland will receive US$90,000 (£75,000) by way of a contribution towards the expenses incurred by the Company in respect of Capricorn Sapphire during 2019 to date.

8. On completion of the entire sale of the Option Assets to Fura Gems Inc., currently pencilled-in for August 19 2019 (Monday) or shortly after, Richland will receive new Fura shares as is equivalent to AUD150,000 (£84,000) by way of a partial refund of the financial assurance deposits.

9. And 18 months after completion, Fura Gems Inc. is to pay Richland a further AUD221,911 (£123,000) in cash (less any environmental liability claims made against the Financial Assurance Deposits by the relevant government authorities) being the refund of the balance of the abovementioned Financial Assurance Deposits.

So, all in all, and come the end of next week, Richland should have a cash balance of circa £1,124,000. This figure assumes the BOD sells the 4,859,825 Fura shares on receipt. Either way, Richland will be in rude financial health pretty soon.

4. Lucy Williams – A key member of the buy-out team which bought PCL from its previous owners

in July 2012, Lucy is currently PCL’s Associate Director of Securities. Having previously worked in a range of private client stockbroking firms in the City, Lucy specialises in equity and debt capital raising for AIM companies, and oversees the firm’s investor relations programmes for quoted clients on both AIM and NEX Exchange Growth Market.

So far so good.

Now observe this…

P3 Capital Limited, the company holding a 5.28% stake in Richland Resources, currently has the following individuals as directors:

1. Peter James Greensmith
2. Heena Karani
3. Lucy Williams.

By the way, P3 Capital’s business is described as financial intermediation. Financial intermediation, for those of you new to corporate finance, is a productive activity in which an institutional unit incurs liabilities on its own account for the purpose of acquiring financial assets by engaging in financial transactions on the market. Or put another way, a financial intermediary is an institution that serves as a middleman among diverse parties in order to facilitate financial transactions. Examples include investment banks. So yes, P3 Capital is a mini investment bank.

Have you managed to join the dots?

If you haven’t, this next piece might help…

Flare Capital Limited, the company holding a 4.76% stake in Richland Resources, currently has the following individuals as directors:

1. Peter James Greensmith
2. Maureen Greensmith

Now, are you any closer to establishing a picture?

Well, this should definitely nudge you in the right direction…

Gledhow Investments Plc, the company holding a 5.81% stake in Richland Resources, currently has the following individuals as directors:

1. Guy Rowan Miller
2. Lance Brett Miller
3. Geoffrey Hugh Melamet

Gledhow is an investment company with a rather stunning track record of delivering profits and mainly attributable to Guy Miller’s innate ability to spot an exceptional opportunity. Geoff Melamet, on the other hand, is the company’s chief financier. An incredibly wealthy businessman, Geoff is the founder and major shareholder of the HMSA Group, a highly successful Wealth Management business with a substantive international reach. Geoff has been involved in the fiduciary industry for more than twenty-five years.

So, have you finally got the picture?

Well, it’s quite simple; 19.02% of the company shares are held by three very wealthy, incredibly savvy, and enormously influential (in the City) individuals – Peter Greensmith, Guy Miller, and Geoff Melamet.

These City heavyweights are known for one thing and one thing only – profiting from obscenely mispriced companies. Period.

They are driven by the courage of their convictions and are not constrained by market trends. As such, they emulate the philosophy of Howard Stanley Marks, the serial value investor and founder of the multibillion, wealth

For convenience please read these in reverse order, as its a pain splitting it:

I've decided to share some of my research with you. It's quite compelling. So here goes;

Howard Stanley Marks, the serial value investor and founder of the multibillion, wealth management firm Oaktree Capital Management, once opined that:

"All intelligent investing is value investing; acquiring an asset for less than its value means seeing what everyone else sees and thinking what no one else thinks."

Now, don your investment cap and follow me.

On July 04, 2019, Richland’s BOD appointed Peterhouse Capital Limited (PCL) as the company's sole broker and were issued 15,873,016 new common shares as payment (initial six month retainer fee). This was in addition to their 5% commission (for arranging the £100k placing) paid by the issue of 7,936,508 shares. Thus in total, PCL secured 23,809,524 shares (3.17%) in Richland Resources. These are currently held under JIM Nominees Limited.

On July 09, 2019, Richland’s BOD announced that P3 Capital Limited and Flare Capital Limited had secured stakes in the company of 5.28% and 4.76% respectively. These are currently held under Thomas Grant Nominees Limited (75,396,825 shares).

On July 09, 2019, Richland’s BOD announced that Gledhow Investments Plc had secured a 5.81% stake in the company. These are currently held under Gledhow Investments Plc (43,650,794 shares).

So, that’s the boring part out of the way.

Let’s now dig deeper and unmask our largest investors...

Peterhouse Capital Limited (PCL) is essentially run by four main players:

1. Peter James Greensmith – Peter is the head honcho (CEO) of PCL and has over 25 years’ experience in Investment Banking (chiefly in mergers and acquisitions). He is a well-known and respected advisor within the London small-cap and emerging companies sector.

2. Guy Miller – Guy is PCL’s Director of Corporate Finance with substantive experience in the London small-cap and emerging companies sector. He was the CEO of ARH Leisure Investments plc, a NEX Exchange Growth Market company that subsequently acquired Frontier IP Group Plc (a subsidiary of Sigma Capital Group Plc) by way of a reverse takeover. Frontier IP specialises in the commercialisation of university intellectual property and is currently valued at £28m. More importantly though, Guy was instrumental in launching Auxico Resources Canada Inc. onto the NEX Exchange Growth Market in October 2018. Auxico was founded in 2014 and is involved in the acquisition, exploration and development of precious (gold and silver) and base metals (coltan) in Colombia and Mexico. Its main operation is the 100% interest in the Mexican Zamora Silver-Gold Property, which has high grade silver and gold reserves.

3. Heena Karani – A corporate lawyer by profession, Heena is one of five Managing Directors at PCL and chiefly focuses on AIM transactions (mainly IPOs, mergers and acquisitions, and restructurings).

4. Lucy Will

Forgive me asking an obviously silly question here. But the result of the agm is really just a formality right?

I believe tla and bou both rose massively because of the ownership structure at the time of cash shell status?

Realistically, i fully believe this will go to 20p. In terms of timescale, in the next 6 months.

This is probably a good buy short term at this price, but likely to trade around 3p for a few months until the rto is announced. But as with all these things, if you buy now and hold it will reward you a lot.

As when they announce rto this will gap up at least 100-200% on the day.

Up we go again 1.71!

An amazing share this for trading

@JPP
It's a twitter spike, people said yesterday it was going to be.

If you look at the financials this has about £600k of liquefiable investments, practically no cash, but also (now) practically no debt.

Their directors bill before current appointment(s) was £85k.

There is nothing much to see here imo. They are a long way away from RTO status, and their liquid assets seem to be written down massively constantly.

Interesting appointment. I'm not a holder here, but this appears to be in a very weak state as a potential shell?

So to recap here, before 20th Aug we are anticipating receipt of $8.75m in respect of an asset sale. With $4m already in the bank.

So that's around £10m against a £5m mcap. If they decide they don't need to hold that much cash to RTO, then they could return millions to shareholders by a special dividend!

Not sure on the target, but definitely mining.

Volume us around a third of company traded! What is L2 looking like anyone?

On Monday they have an AGM, where this will officially become a cash shell. With £700k in cash (more than enough to RTO), a key investor on board with great contacts in the mining sector, and only 751m shares in issue. Many companies have to massively dilute prior to cash shell status just to raise this cash. This is a very clean attractive shell.

Interesting to read that this has a $53m tax loss that can be used to offset tax for any mining company that RTO's into this.

That's got to be worth a few quid.

TLA mark #2 ?? worth a punt for the tiny free float.

I did a bit of trading over in tla today, from here.

But back in again before the close with about double. So not a bad day.

Just a worthy reminder for people here. The free float here is around 40% I think. Of that 60% a great many of them have averages over 10-20p, and they will be actively involved in arranging an RTO that makes them at the very least break even.

I would say definitely worth a buy. This is what I see as a "late stage" RTO, in that they already have an identified target, have a substantial and supportive ii base, and enough cash already to see this through to completion.

Anything under 2p is a safe buy imo. 3p+ it could wobble up and down a lot over the next 2 weeks, and potentially back down to these levels in a month etc, depending on the timescales for the RTO.

Wow, boom!

If they RTO into a dividend paying company (as is suggested), then can you imagine how much money those who buy in now will be making!?