boundless Posted July 23, 2018 Share Posted July 23, 2018 Announcement out, but not sure how good it is as I'm not an expert miner. Your thoughts? https://search.asx.com.au/s/search.html?que...amp;profile=web Link to comment Share on other sites More sharing options...
blacksheep Posted July 23, 2018 Share Posted July 23, 2018 Quiet a lengthy doc - will need to read in more detail later. First stop for me is the previous history/owner. Note the suspension will continue until at least 6 August 2018 Note also all the "regulars" are in for their chop - Airguide, Sixty Two Capital Pty Ltd Shares will be issued to participants in the Capital Raising upon the Company satisfying Listing Rules 11.1.2 and 11.1.3 and obtaining approval from its shareholders for the proposed acquisitions and joint venture, and any applicable ASX waivers. ASX Chapter 11 - significant transactions requirements - https://www.asx.com.au/documents/rules/Chapter11.pdf Link to comment Share on other sites More sharing options...
boundless Posted July 23, 2018 Share Posted July 23, 2018 Some posters on the Aussie forums are quoting that this will be a $1 to 1.5 billion company within 12 months Link to comment Share on other sites More sharing options...
blacksheep Posted July 23, 2018 Share Posted July 23, 2018 Hard to find info on these JV companies Not sure if this company - Muya Resources SARL) - is the same as/or related to Muya Resources Limited - mentioned in WFE's ann? Hailiang, through its subsidiary Zhejiang Hailiang Co., Ltd, has operated a joint venture (now established through Muya Resources SARL) developing copper licences with ASA in the Democratic Republic of Congo since 2013. Zhejiang Hailiang Co., Ltd became a 62 per cent. shareholder in Muya Resources SARL in April 2016 in accordance with the Cooperation and Development Agreement between Zhejiang Hailiang Co., Ltd and ASA. Further information on Hailiang is available on its website: www.Hailiang.com. Hailiang is ultimately controlled by Mr. Feng Hailiang (aged 56), a Chinese industrialist and senior economist in the People's Republic of China. Mr Feng is Chairman of Hailiang, which he formed in August 1989, and was also Chairman of Zhe Jiang Hai Liang Co. Ltd., a company listed on the Shenzhen Stock Exchange. Prior to forming Hailiang, Mr. Feng started a trading company in 1985, which then led to the establishment of Hailiang. https://www.investegate.co.uk/rich-pro-inv-...7120700058119K/ They seem to have acquired - https://asaresourcegroup.com/file/d6c56a547...eb6b05ae710.pdf - who held licences in DRC RPI = RICH PRO INVESTMENTS LIMITED https://offshoreleaks.icij.org/nodes/10157642 Information on RPI, the Wider RPI Group and Feng Hailiang RPI was incorporated in the British Virgin Islands on 2 January 2014. All of the issued ordinary shares in RPI are owned by Hailiang which is itself ultimately owned by Feng Hailiang. African Holding Investment Company Limited is also Registered in: British Virgin Islands, so might suggest they are all one big happy related family of Mr Feng? Link to comment Share on other sites More sharing options...
boundless Posted July 23, 2018 Share Posted July 23, 2018 Cheers thanks for that. As long as it doesn't go pear shaped then there might be a few bags left for current shareholders! Link to comment Share on other sites More sharing options...
blacksheep Posted July 23, 2018 Share Posted July 23, 2018 As long as it doesn't go pear shaped then there might be a few bags left for current shareholders! or they could also become bagholders Too many unknowns with all these connections. Ask yourself this plant was built in 2014 for US$80 mil, according to ann,, why has the original owner elected to sell 50% to WFE for a cash payment of just US$5.5 m + some royalties + shares? Looks like there is a bit of CAPEX required then there's the dilution factor - millions of shares to be issued - 333,333,333 new shares to raise the $8 m and the shares to vendors. And when Airguide do their thing, more shares will be issued. How many shares currently - 2.4 bil? In addition, the following share based payments are also to be paid in respect to the acquisition of the 50% interest in the Luapula Cobalt Processing Facility and new joint venture company: (a) 100m fully ordinary shares issued on execution of the Joint Venture and Development Agreement; (b) 100m fully ordinary shares issued on the commencement of concentrate sales by the new joint venture company; and © 100m shares fully ordinary shares issued on the new joint venture company reaching 1,000t of contained cobalt in concentrate sales The issue of the shares will also be subject to receipt of any regulatory and shareholder approvals and may be subject to ASX escrow. Link to comment Share on other sites More sharing options...
blacksheep Posted July 23, 2018 Share Posted July 23, 2018 Some posters on the Aussie forums are quoting that this will be a $1 to 1.5 billion company within 12 months I wish I had a dollar for every time I read that somewhere on a stock forum/thread - then I would be a $1 to 1.5 billion happy chappy Link to comment Share on other sites More sharing options...
JSB Posted July 23, 2018 Share Posted July 23, 2018 But this time it's different Blacksheep Link to comment Share on other sites More sharing options...
blacksheep Posted July 23, 2018 Share Posted July 23, 2018 But of course it is, JSB Link to comment Share on other sites More sharing options...
blacksheep Posted July 23, 2018 Share Posted July 23, 2018 Some posters on the Aussie forums are quoting that this will be a $1 to 1.5 billion company within 12 months Out in twitter land a StockSwami made this tweet @ 3:40 PM - 9 Jun 2018 - how good was Stockswami's prediction Listen Up schmucks. This is the $WFE play. The peeps at 1620 capital will buy a cheap processing plant & some artisanal leases. They'll bundle it into an African sounding co parented in BVI so cant be traced JV it to $WFE , claim commission & WFE will pay all costs & go 50/50 https://twitter.com/stockswami/status/1005580419989790720 Link to comment Share on other sites More sharing options...
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