Member Info for Poppyseed

skittish, in answer to your question re KOD, I'd say there is little doubt that the KOD gold deal is about to be completed, much of the amended detail of which was trailed by KOD in a 5 Mar RNS.

As for full conversion of warrants, I did note this para in the amended detail which may have a bearing:

"...Each tranche of the CLN will be convertible at the election of the Investor into new Ordinary Shares of Kodal at any time, in whole or part, during the Repayment Term, except in certain circumstances as set out below. The conversion price will be set as 130 per cent. of the Company's 5-day VWAP (volume weighted average price) immediately preceding the date of drawdown of each tranche ('Closing Price'). Such conversions cannot be made:

a) while a balance of the pre-existing convertible loan note remains due to YA II PN and RiverFort Global Opportunities PCC Limited, as announced 15 July 2020 and updated 27 October 2020, of which $600,000 of convertible loan notes currently remain outstanding; and..."

Hi SarahAsh, wading through LSE posts since the turn of the year should cover most topics in question.

In a few words though, I'd point to it residing in the Investment Company sector which is typically seen as drab and littered with ordinary performance at best and disastrous performance at worst. In fact, in RGO's previous existence as the warty Paternoster Resources and, before that, Viridas, it too has some old scars to answer for and that's probably why it fell off screens.

However, a transformational event happened back in Jan 18 when Brian Kinane's Riverfort Global Capital came onboard with aim of making Paternoster (as it was at the time) its market-listed investment arm. The importance of this event was largely dismissed at the time and pretty much ever since by most - but, beyond the subsequent major investment, capital reorganisation and name change, a keen observer would have seen the steady, 3-year transition from ugly duckling to swan under "Big Daddy" Riverfort's Investment Influence, the results of which are suddenly blossoming like night into sunlight.

I'd say the main driver towards this dawn have been RGO's ability, via Big Riverfort, to share in a piece of the sort of action only the big boys enjoy - CLNs, warrants, pre-IPOs etc. - to the point where by the end of 2020 a meaningful dividend was paid with an expectation of twice that much, already covered, to be paid with the Finals. Moreover, the influence of Brian Kinane in particular has most recently taken RGO to the disruptive tech end of the investment spectrum which looks set to continue given Brian's additional influential positions at Sure Valley Ventures (where PIRI holds a good % and where RGO holds a good slug of PIRI plus warrants) and soon-to-be-floated Pluto.

In summary, RGO has quickly emerged into a space where it will be hard to stay below the radar for very much longer and I'm sure LTH's will be very glad if that's true!

I tend to agree with you re KOD Mr Cautious. For starters, It is way too in hock to the Riverfort family of companies for any level of comfort, albeit I'm actually quite OK with that, being invested in the listed arm of the lender.

As for MMs and the heat KZG will hopefully receive shortly, I don't see any future heat here in anything like the same terms as some hard-to-fathom-a reason-rocket-stock. Always assuming the main catalysts, currently awaited, duly arrive i.e. continued diamond ramp up; HMS licence approval leading quickly to significant earnings uplift; major equity investment indicated to be at above 1.4p very shortly based on last RNS; resulting water pipeline leading to world class high grade tantalum and "in-for-free" lithium plus other minerals within 2 years; other opportunities which may arise out of recent MoU with Manschaft, the holder of five exploration and prospecting licences in central and north western sections of Namibia; and any other ambitions of the Company to bolt on following the Namibian investor coming onboard as per this earlier RNS statement "In addition, the potential investor believes that Kazera represents a strong candidate to consolidate further mineral licences across Namibia and across the border in South Africa as evidenced by the acquired diamond mine, the heavy mineral sands opportunity and the MoU referenced above."

All things being equal, there will be no "wonder why that one's going up" around here!

More conversion today, see KOD RNS.

Seen KOD this morning? Hard to know what it's about but they are awaiting Lithium licence approval and there's some chat about the Chinese and Lithium. Lithium previously just a side event here but.....

It's still prospective but see RGO announcement last Dec and recent KOD update, also my interpretation on 6 Mar re likely right to convert loans into KOD shares as well as gold venture JV.

Seen KOD today? Heaven knows what it's about but trumpeted RGO deal is sure looking good!

Further to the links between certain companies I posted the other day, this from Nicholas Director of Pires, Investment Director of RGO:

https://www.share-talk.com/nicholas-lee-director-of-pires-investments-plc-piri-l-interview/#gs.w3533b

Yes, lithium is indeed very strong currently:

https://tradingeconomics.com/commodity/lithium

Wouldn't normally do this but on which subject, might I suggest a look at KZG? Much more than a lithium play, news imminent on several fronts including an investor likely providing funding in the range 1.5 -2p (see last RNS and Align research notes where it is named as their share of 2021). Currently at consolidation lows after a good rise back end of 2020, might provide a good and timely entry point. DYOR.

Up to now, KZG was never really about Lithium but watch this space, things are well on the up and look likely to add considerable value to KZG's assets and future mining operations where I understand it will be mined alongside the tantalum without any significant extra cost:

https://tradingeconomics.com/commodity/lithium

Take a look at perky KOD today regarding rumours that their lithium licence application is set for approval. KZG already has the go ahead, just need the investment for the water pipeline. Shows the level of retail interest suddenly stirred by possible licence approval though. Surely can't be much longer here for the HMS thumbs up, the area already sees significant mining and the Maritime and Underwater Cultural Heritage people would appear to have been satisfied some time ago so just now looks like a Covid delay issue:

"...The Maritime and Underwater Cultural Heritage (MUCH) unit at SAHRA is satisfied with the additions to the
most recent heritage screener. The concerns that were raised in the previous comment in June 2020 have
been addressed and adequate mitigation measures have been included in the recommendation by the
heritage specialists..."

https://sahris.sahra.org.za/sites/default/files/casedecisions/Proposed%20Walviskop%20beach%20mining%2C%20Port%20Nolloth%2C%203rd%20interim%20comment%20June%202020.pdf

KOD perky today, apparently on the back of rumours emerging of lithium licence application set to be approved.

First announced by RGO in Dec and final deal still to be formally announced but already heralded by KOD last week as being imminent, see also my post on here 16.30, 6 March for likely amendments concerning chunky interest and fees throughout and RGO entitlement to take CLNs as KOD shares as well as stake in all West African gold assets via a so-called "monetising event".

Looking good!

Thanks for that link skittish, another good informative watch is this one where Peter Wall, CEO of ARB interviewed Atif last month:

https://www.youtube.com/watch?v=OUL1jsTi6Hs&t=20s

In case it's not appreciated by all, it's well worth a look at the Pluto team page to get a feel for how this all links up and where it might be going:

https://plutodigitalassets.com/team/

Atif is Pilot/Director; Peter Wall of ARB also there as Command Module/Pilot Director but note especially well the presence of Brian Kinane as Commander - of particular note to RGO investors, he is the CEO & Head of Investments of what I call Big Daddy Riverfort (Riverfort Global Capital PCC). He is the main man behind the reinvention of the old warty Paternoster into what it is today. That transformation is still largely unappreciated and hence the value/opportunity even now.

It's the answer to an earlier question on here of what makes RGO so different. In a few words RGO is not a lonely small player, stabbing at small risky punts in the dark, it is fed and nurtured by sharing parts of what the big boys craft and get access to.

It doesn't stop there though, Brian is both qualified and extremely smart in the world of tech. He is also a founding partner at Sure Valley Ventures, strangely enough where PIRI holds 28%, and where RGO holds 18.2% of PIRI. Alongside him as Managing Partner at SVV is a certain Barry Downes who the observant will also spot as Payload Commander/Director at Pluto!

https://surevalleyventures.com/our-team/

https://tmt.knect365.com/startup-elevate/speakers/brian-kinane/

Each to their own but, for me, it stacks up to just a flavour of the forward possibilities for RGO in this age of disruptive tech. Only need to point to the last RNS for their clear intention going forward "Pluto is making rapid progress in building and developing its operations. We are therefore very pleased to be gaining additional exposure to the technology sector to complement the investment made to date and we look forward to making further investments in this sector in the future."

Over time, this could go anywhere. DYOR

...Prepare for Blast Off! As suggested earlier, RGO beginning to appear on radar screens on the back of dynamic investments and associated publicity, not least today on Twitter:

https://plutodigital.medium.com/pluto-blasts-beyond-moon-to-50m-within-50-days-of-inception-ccb090600d93

https://twitter.com/Pluto_Digital

https://twitter.com/YOPfi

Could easily be a few uplifting things coming in quick succession - finals, first quarter, Pluto IPO. Based only on what we know, I see NAV being around 1.7p but there is so much we don't know, not least how many warrants may have been exercised and therefore capitalised. As for the strong link to disruptive tech and crypto via PIRI and even further via Pluto, never mind 2p, stand by for anything!

The short-term effect of these holdings should be exactly what RGO needs to get on radar screens but the real transformation would be if these strong links carry RGO away from being valued merely on current NAV/income and towards being seen as a vehicle through which people can track the likely dynamic forward growth of leading edge tech and decentralised finance while also enjoying the benefits of RGO's broad spread of other well-founded investments, derived income and dividend payments.

Even better than that ukvrkw, it's actually a total £1m investment with an attributable current valuation of £1.28m (@ 6p Pluto's last funding round) from a market cap company of £10m. As you suggest, it only goes to underscore the value here when you also consider the 18.2% of PIRI worth near £4m plus 10m warrants there worth near £1.1m if exercised all of which, in turn, gives RGO an indirect holding of even more Pluto!

So, all in all, just PIRI and Pluto currently account for about 63% of the RGO market cap but we know there's so much more in there, not least stacks of warrants in tens of companies that are not and will not be seen in RGO NAV terms unless and until they are exercised.

Also, check out the Kodal RNS Friday. The initial outline deal with RGO “parent” has been varied but is in final legal stages so expect a final announcement very soon. I imagine due diligence threw up one or two insecurities and perhaps a longer timeframe over which to maximize the proving up of asset potential so it will no longer be interest free nor ready for JV or whatever else by Oct 21.

Rather it will now be a more typical 24-month secured convertible loan note (the 'CLN') with no repayments before 18 months, and a 10% per annum interest, rolled up and payable on maturity, and an implementation fee of 5% of each tranche advanced. Each tranche of the CLN may be converted by RGO et al into new Ordinary Shares of Kodal and RGO et al retain the right, but not the obligation, to convert all or part of any outstanding balance of the CLN, up to a maximum of US$1.25m for a 20% shareholding of the Company's subsidiary that will hold all of the Company's gold assets.

The thing to bear in mind here is that since the initial Dec announcement, the portfolio of gold properties has almost doubled (to 8 in total) following KOD regaining 100% interest in the Nielle, Tiebissou and M'Bahiakro (application) gold concessions after termination of the Corvette JV with Resolute Mining after Kodal deciding to refuse Resolute’s extension request.

So once again, a rounded, low-risk, secure deal with high fee and interest-bearing benefits and with significant options, but not obligations, of gathering stakes in both KOD and in the gold assets should exploration go as is hoped and a “monetising event” then occurs (see KOD announcement for details) and/or KOD also gets the go-ahead over this period for its major battery-metal lithium asset which could also be increasingly hot as fossil fuel is dumped in favour of batteries for e-vehicles.

Yet another win, win.

https://www.lse.co.uk/rns/KOD/update-on-gold-financing-and-gold-portfolio-99a4lbjeumuftw2.html

Somebody selling, somebody buying too, all makes a market. If the selling side was causing us real trouble, I'd be more concerned but approx 50% up since the turn of the year after a couple of years in the doldrums is pretty staggering for the high dividend-paying, safe-haven, growth stock this is becoming.

Wasn't always true but Brian Kinane of what I call "Big Daddy" i.e. the unlisted Riverfort Global Capital came along and has been behind the transformation of RGO into a quality class-act, too classy for typical AIM boom and bust, a real keeper.

I invested thinking maybe to expect 5-20% growth on top of a nice dividend each year. However, my recipe card at the time said "steady with benefits" whereas now, a new disruptive ingredient called "excitement" has been added to the mixing bowl in more than a little good measure.

The way things are shaping up here, it looks to have it all. Potential for dynamic investment growth, solid earnings, high dividends likely to be maintained, safe haven protection from the worst of the inevitable cyclical storms. Too good to be true? DYOR.

Hi Markjenn, we dealt with that IES question to conclusion back on 15 Feb, didn't we? There was then a 50-1 consolidation so my calculation the warrant price would now be 107.5p.

PIRI RNS on the same subject is a bit more forthcoming and suggests RGO will now hold approx 21.34m shares in pre-IPO Pluto for its 4.2%.

PIRI also mentions what looks like a stonking warrants deal alongside this raise so strange that RGO does not mention warrants. I can't recall seeing a placing where some participants get warrants and others don't so....

Thing here is that PIRI paid in a non-cash manner using 1.9m YOP tokens and a transfer of its DeTech holding to Pluto. That DeTech holding plus 4m YOP tokens cost PIRI just US$200k only a few months back. Now that US$200k holding but with only the remaining 1.9m of those YOP tokens received at the time buys 23,301,633 shares in Pluto @ 6p, the attributable cost of investment being approx £1.4m. Plus 24m warrants exercisable @ 6p, 6m vesting immediately. Nice!!

So getting back to RGO, my extrapolation of the PIRI RNS is RGO now holds approx 21.34m shares worth £1.28m @ the latest Pluto raise price of 6p but which cost them only £1m.

Plus a slug of warrants a la PIRI? We can only surmise. However, what is in no doubt is that RGO also holds 18.2% of PIRI!

Value and hidden value just get better and better here, plus 4%+ pa dividend! Happy to have a large foot in the disruptive tech/crypto arena via RGO and let others make the calls on stuff I really wouldn't want to call for myself.

My god, at least half of AIM should be barred on iii on that basis lol but personally can't think of a more inappropriate stock on which to stick that ridiculous caveat! Shame on you iii.

In case it helps further, I'm not completely sure but I think the nub of the problem with some brokers appears to be a mistaken interpretation that RGO plc is subject to PRIIPS and the associated requirements. It is not. However, RGO has published a Key Information Document. If I were affected by this, I'd be making this key statement from the document header clear to my broker and asking for written justification of their restrictions on trading RGO:

https://riverfortglobalopportunities.com/key-information-document/

THIS PRODUCT IS NOT A RETAIL PACKAGED INVESTMENT PRODUCT WITHIN THE MEANING OF ARTICLE 4 OF REGULATION (EU) NO 1286/2014 ON KEY INFORMATION DOCUMENTS FOR PACKAGED RETAIL AND INSURANCE-BASED INVESTMENT PRODUCTS (PRIIPS). THIS PRODUCT IS NOT SUBJECT TO PRIIPS, AND, AS SUCH, HAS BEEN PREPARED FOR INFORMATION PURPOSES ONLY.