RE: Same old same old20 Mar 2025 18:27
Re. 15:20:
Parfait123, in reality it was Red Rock Resources who got involved with the refinancing of African Battery Metals, for which there was an RNS in january 2019, there was a vote by ABM shateholdets to approve the refinacing. After the positive vote RRR had 25 million shares in ABM, Bell joined the board as Executive Chairman with Paul Johnson joining as Executive Director.
There was an annual report explaining tbe changes on 28/03/19 with a Chairman's statement by Bell. Afican Battery Metals became Power Metal Resources on 24/06/19.
It was during the latter part of April 2020 that there was an RNS announcing POW had bought a 49.9% stake to be able to pursue a joint venture with RRR, in RRAL. Further detailing of this was in the 2020 annual report and it was in one of those relevant RRR, RNS' that it was detailed POW asked to join the joint venture so that they could have exposure to Australian gold asset(s) through a joint venture.
RRR were awarded the 25 miilion shares in ABM at 0.5p, they sold those shares as POW shares at multiples of that value, in stages.
RRR helped ABM survive, helped ABM become POW, and the percentage(s) of POW shares helped RRR to continue as a going concern when they sold them in profitable stages.
I think both companies continue to have a good relationship.