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WCC, THE WATERBERG COAL COMPANY LIMITED
veeone
post Posted: Mar 21 2011, 09:38 AM
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In Reply To: jeeves's post @ Mar 21 2011, 09:07 AM

Well Jeeves all i can say is if there is no share dilution with this then they will owe more money to someone else like they do at present with Macquarie and it has not been long since that was organised...........Seems like they are on by the fingernails to me!!
No doubt they will get the funds but what cost to shareholders and how long before holders would see a return on investment as will be a long time paying these people back!!! Of course they will get priority over mere shareholders. V1

 
jeeves
post Posted: Mar 21 2011, 09:07 AM
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In Reply To: Bluemaxw1's post @ Mar 21 2011, 08:52 AM

Capital raising in Dec at 1.8c, advance sale for part og future gold productionto Maquarie Jan, Director (who I trust) resigning last week or so ago and now back looking for more funding. Jump off now.

 
Bluemaxw1
post Posted: Mar 21 2011, 08:52 AM
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Sydney - Monday - March 21: (RWE Aust Business News) - Range River Gold (RNG) has requested a trading halt regarding discussions with various parties in relation to funding requirements.

How much worse can this story get? Can't believe i got back in to this train wreck last year. No wonder OH did the bolt. What a nightmare stock

 
atozed2005
post Posted: Mar 7 2011, 04:54 PM
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In Reply To: Flyer's post @ Feb 18 2011, 10:52 AM

This mob churns through money like a man with no arms - executives paid too much, costs too high. With gold at US$1425, where is the money going? Into a deep hole, methinks!


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Flyer
post Posted: Feb 18 2011, 10:52 AM
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Looks like a total write-off. It's down to 1 cent per share.

 
veeone
post Posted: Jan 31 2011, 04:33 PM
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Things are tough for RNG cash wise they are not making enough profits to pay their way when they have to borrow a measly 4.5 million.

Monday 31 January, 2011, Melbourne: Range River Gold Ltd (ASX: RNG) advises that a Committed Letter of Offer has been accepted from Macquarie Bank Limited (MBL) to provide an A$4.5 million prepaid gold facility. The prepaid gold facility has been finalised with settlement today. The purpose of the fund raising is to provide working capital for RNG’s Mt Morgans Operations.

The pre-paid gold facility is a secured debt facility to be repaid in gold or Australian dollars equivalent. The gold equivalent of the borrowed amount is approximately 3,388 ounces. RNG is required to repay the gold at the rate of approximately 320 ounces or Australian dollar equivalent in equal instalments for 12 months from April 2011.



 

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veeone
post Posted: Dec 9 2010, 09:33 AM
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QUOTE
The final resolution is to increase the total remuneration available to be paid to Directors. The original cap was set at the AGM in 2002 and requires updating to allow one or more new Board members to be appointed, should the Company require new expertise and governance skills as it grows. As explained in the explanatory memorandum, this is not intended to be fully utilised in the immediate future.


Long as they wait till the company is well and truly making steady profits!!! Things like this that ticks off holders if they are still losing money on their operations.
I think they have enough on the board now!! V1

 
veeone
post Posted: Dec 6 2010, 09:35 AM
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In Reply To: Flyer's post @ Dec 6 2010, 09:13 AM

Who knows Flyer just wonder what has spooked pattersons as they seem to think they can not make money on the deal and that is why i'm thinking they flagged it!!! Also shareholders seem to have had enough of delving into their pockets for an iffy return!! V1

 
Flyer
post Posted: Dec 6 2010, 09:13 AM
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In Reply To: veeone's post @ Dec 6 2010, 09:01 AM

I wonder if Calvert Jones has any more stomach.

 
veeone
post Posted: Dec 6 2010, 09:01 AM
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We refer to the Company's announcement of 8 November 2010 of a placement to sophisticated and professional investors to raise $4.5 million and a Share Purchase Plan offer ("SPP") to the Company's existing shareholders, with subscriptions for the first $3 million of the SPP underwritten by Patersons Securities Limited ("Patersons").

At the close of the SPP, total subscriptions from shareholders were approximately $2 million (subject to final reconciliation).

The Company advises that Patersons has elected to terminate its underwriting agreement with the Company as a result of the triggering of a share price-related termination clause in the agreement.

The funds raised through the placement and SPP have provided the immediate working capital required as outlined in earlier announcements.
Hmm only 2 million.....Shows that shareholders are not willing to support the company......Question is ......now they will still need more cash i would think so what next? V1



 
 


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