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I have been holding for around two years as well and also took up the SPP.


Looking for a buck!!


I am assuming you mean for the sp to hit $1. That could be away off.


I see this is as a slow appreciation in share price, with a good CEO with supportive and well placed majority shareholding.


If this reaches a $1, I will be partying big time.

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  • 1 year later...

Not a lot posted here for the last 12 months, perhaps because it all looks so sad. But the company is not totally broke yet. It still had $3m in the bank at the end of last qtr, with a $2m projected spend this qtr. (so not broke 'til mid April at that rate). It announced a resource upgrade 31 Jan:




It also announced a tenement sale 13 Feb:




Although that didn't seem to be raising a ton of immediate cash. I wonder if anyone has any thoughts.

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  • 2 months later...

At March 31 2013 after spending $1,888k during the quarter they are left with $1,548k and anticipate spending $760k next quarter. That $1,548 is net cash. Gross cash is $4m with a $2.5m O/d - not quite sure why they do it like that.


My guess is that the $1.5m net they have left nowhere near enough, and without AGO in the background, I'd say this one was a write-off albeit with a ten digit resource in the ground. Even with AGO owning 53% I wouldn't like to guess how this will progress. My only consolation is that AGO paid more for most of their shares than I did for most of mine. :B):

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  • 9 years later...

and SHAW RIVER MANGANESE LIMITED (SRR) raised capital in 2018 .... company issued a prospectus for the offer of 250,000,000 Shares at an issue price of $0.02 each

Soon after ......... Rolek Resources Limited (RLK) (formerly Shaw River Manganese Limited) is pleased to advise that, following shareholder approval obtained on 21 September 2018, the Company name has officially changed with the Australian Securities and Investments Commission.

In 2019, public offer and additional offers under the RLK prospectus and supplementary prospectus closed under subscribed .


2019 ... we understand this company failed and ASX removed the company from listing because its securities have not been quoted for more than three years

But by 2021, RLK has dropped off the perch  ... from delisted.com : Shareholders in this company should consider crystallising a capital loss in 2021/22 by selling their worthless shares. From 1 October 2021 we have made this process much easier and quicker. It can now be achieved online by entering transaction details here.

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