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WCC, THE WATERBERG COAL COMPANY LIMITED
ShareScene.com
post Posted: May 1 2013, 11:01 AM
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Company name updated -

From: RANGE RIVER GOLD LIMITED (RNG)
To: THE WATERBERG COAL COMPANY LIMITED (WCC)

Regards, ShareScene.com Admin

 
veeone
post Posted: Jun 25 2012, 03:11 PM
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Flicked thru the prospectus and expected relist date is 20 July!! V1

 
veeone
post Posted: Jun 25 2012, 02:45 PM
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Tide recedes in river of gold for Calvert-Jones
POOR John Calvert-Jones, brother-in-law to Rupert Murdoch, has turned $7 million into $120,000 from a seven-year attachment to soon-to-be-rebirthed Range River Gold.
Calvert-Jones, who made his name as a stockbroker, has been a loyal supporter of Range River and its Mt Morgans gold projects since buying his first shares in 2005, but was unfortunately holding more than 11 per cent of the company when the music stopped a year ago.
He and his family investment company, Seafirst Australia, were also owed $1 million from convertible notes, which do not seem to have converted when due in March last year, given that he is listed as an unsecured creditor for that amount.
Not only was Calvert-Jones represented by a proxy at the early creditors meetings for Range River, at one of them the chief executive of Seafirst, Angela Rutherford, also popped in as an observer to see what was happening.
The good news for Calvert-Jones and other shareholders in Range River is that after more than 12 months of suspension, and a fair bit of disembowelling, they get to vote next month on giving the corporate shell a second chance at life and an ASX listing, thanks to Garrison Capital.
The bad news is that existing investors will own just a fraction of Range River after a 1-for-60 share consolidation and two subsequent share issues to get the company out of penury. Still, that is a teeny hold on something, rather than a big piece of zero.
The Garrison plan is to place 140 million shares at 0.5? each, raising $700,000, to provide some working capital, and then raise another $3 million at 2? a share via a prospectus.
Unfortunately, just over $2 million of that cash has to go to pay off Range River creditors  and about the only one smiling there is likely to be Macquarie Bank, which looks like getting all of its money back.
It made a $4.5 million gold loan to Range River at the beginning of 2011, and was claiming $5.6 million in the administration. Insider hears it is still owed $1 million, and will get first dibs on the raising, underwritten by Garrison.
The explorer's appointed voluntary administrators from PPB Advisory, headed by Stephen Longley, have told unsecured creditors, though, to expect somewhere between 3? and 6? in the dollar on their claims. For Calvert-Jones' $1 million, for example, that would be a comparatively paltry return of $50,000.
His existing 212.95 million shares will be reduced to about 3.5 million, which at the prospectus price of 2? each are worth $70,000.
Garrison's Brian McMaster tells Insider that the plan is to retain some likely gold tenements in South Australia's Gawler Craton, which he thinks hold promise. Located about 100 kilometres west of the Stuart Highway (and three times that distance from the giant Olympic Dam), it is an area known for gold plays.
Still, there would seem to be plenty of assets in the family to keep the wolves from the door for Calvert-Jones, considering BRW magazine last valued them at more than $240 million.
Not only that, Calvert-Jones and Seafirst own the local arm of eco-conscious GreenTomatoCars hire company in Sydney, which uses a fleet of Toyota Prius vehicles (and a couple of new electric Renaults this year).
His bro-in-law seems to have been extraordinarily kind too, judging by the GreenTomato website: "The company's client base consists mostly of ongoing contracts with corporate clients concerned about reducing their environmental footprints. This includes BSkyB, GlaxoSmithKline and News Limited."
Two out of three ain't bad.
It's tough all over
http://newsstore.fairfax.com.au/apps/viewD...0517VQ68I60UNC0


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veeone
post Posted: Sep 22 2011, 02:00 PM
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Administration Process Update
As previously reported to the ASX, the Directors of Range River Gold Limited (Company) resolved to place the Company into voluntary administration on 21 April 2011, appointing Stephen Longley, David McEvoy and Simon Theobald of PPB Advisory as voluntary administrators.
As previously advised to the ASX, the administrators were planning to pursue capital raising and trade sale options in parallel. The administrators have now abandoned the capital raising option due to a lack of interest in a difficult economic climate and focused their attention on pursuing a trade sale of the Company's assets.
The second meeting of creditors was convened by PPB Advisory on 5 August 2011 and adjourned for a period of 45 business days whilst the administrators continued to pursue the trade sale of the Company's assets.
On 17 September 2011, a Sale Agreement was executed for Opus Exploration Limited's (100% subsidiary of the Company) Indee asset with Northwest Nonferrous Australia Mining Pty Ltd. The Sale Agreement requires certain conditions to be satisfied (or waived) within six months of the date of the Sale Agreement. Providing this occurs within this timeframe then completion is expected by March 2012.
The Administrators will be approaching the Supreme Court of Victoria on 30 September 2011 for orders that will extend the period of the adjournment of the second meeting of creditors of Range River Gold (and Opus Exploration Limited) for a further 45 business days. The effect of the orders (if made) will be that the second meeting (which is presently required to be held by 7 October 2011) will be able to be held any time up to 9 December 2011.
The Committee of Creditors of Range River is supportive of this approach. At a meeting held on 9 September 2011, the Committee of Creditors unanimously resolved that the Administrators should seek a further 45 business day extension of the adjournment. The secured creditors of the Company have also confirmed their support for this extension.
[i]This was considered appropriate having regard to the sale of the remaining assets of the Company (Mt Morgans and residual assets) have not yet been finalised. Furthermore, a recent development is that the administrators now expect to receive new proposals from other investors that we understand will entail an offer for these assets.
The operations of both Mt Morgans and Indee are expected to remain on care and maintenance to preserve cash whilst the administrators continue with the trade sale process.


 
veeone
post Posted: Aug 4 2011, 01:29 PM
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June Report.
SUMMARY
On 21 April 2011, as previously reported to ASX, the directors of the company resolved to place the company into voluntary administration. The company appointed Stephen Longley, David McEvoy and Simon Theobald of PPB Advisory as voluntary administrators. The appointment of the Administrators provides an opportunity to pursue the planned capital raising under the moratorium provided by the voluntary administration regime, whilst also running a parallel trade sale as a secondary option.

The company's operations remain on care and maintenance to preserve cash flow while the Administrators work through the trade sales and capital raising options. The transition to care and maintenance was completed without incident and efforts taken to ensure a restart should be progressed without major inconvenience. Key staff have been retained. Full assistance has been provided to the Administrators and all is in place to support both the trade sale and re-capitalisation processes.

The trade sale has generated some keen interest in the company's assets, particularly at Mt Morgans, with interested parties participating in site visits. The second meeting of creditors has been convened by PPB Advisory, to be held at 3pm Friday August 5
th.

Production for the quarter was contained to the 21 days prior to administration delivering 1,345 ounces. Production for the quarter was predominately from the underground mines of Craic and Transvaal with grades of 5.29 g/t, being slightly down from a budget of 5.5 g/t. The open pits at Sarah and Ramornie North produced 361 ounces at 2.26 g/t. As reported last quarter open pit production ceased in April, prior to the appointment of administrators, and placing the operations into care and maintenance.




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jeeves
post Posted: Jun 22 2011, 02:45 PM
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In Reply To: Black cap's post @ Jun 22 2011, 01:03 PM

Hope the deal works out profitbly kor KGL so that I can claw bak some of my RNG losses with KGL cap gain.

jeeves

 

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Black cap
post Posted: Jun 22 2011, 01:03 PM
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In Reply To: veeone's post @ Jun 21 2011, 10:44 AM

Well spotted Veeone. Doesn't make me any happier though!

Cheers, BC

 
veeone
post Posted: Jun 21 2011, 10:44 AM
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Kentor Gold has bought the old Indee heap leach plant for 1.3 million off RNG.




 
jeeves
post Posted: May 24 2011, 03:48 PM
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In Reply To: veeone's post @ May 24 2011, 01:59 PM

Somebody cashed up will come a log and buy it for 50c in the dollar debt and make a killing whilst shareholders will be stiffed and left with nothing.

jeeves

 
veeone
post Posted: May 24 2011, 01:59 PM
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I copied and pasted the details to a Pdf for those intertested in reading thru it. Some of the diagrams may be a bit out of shape. V1
Attached File(s)
Attached File  Range_River_Gold_Project_Details.pdf ( 909.88K ) Number of downloads: 1654

 


 
 


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