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is a great deal. You get your shares in a company with a market cap the same as the cash value of the company. They're holding it back to do even more drilling on more licenses, Dorothe slated for Jan / Feb and more in IC.
I wonder what the SP of the new Ricca company will do when it lists on an exchange at the same time results from multiple projects such as Zaranou MRE, Dorothe and Kineta are all published???
Could be interesting!
To be honest I see RICCA as a gamble & ALL as the certainty. I'd rather see RICCA fully funded by IRR in the demerger & the rights issue with the ALL shares. But I'm committed either way so here's hoping, an to be more honest that's what it is. Every faith in ALL to deliver.
ALL is about as good as it gets, fully funded etc. RICCA, at a MC close to its cash value is a well funded early exploration company, the deals on those projects will come in time as those projects are drilled out and prove their worth. Each of the 4 main gold projects good potentially be worth a 100 mil. Market cap in their own right, we just need the right data to come in. I think 14 million $ is enough of a war chest to get us there, knowing what we know about the stages of these 4 projects. I wouldn’t say no to a 90 cent fund raise after 5 bagging from 20 cents to 100 by the middle of next year.
And then there’s the IC lithium area!! Find some pegmatites there and RICCA rockets!
Interesting to see ALL and Ricca share the investment in A8G (5.5 Mio shs each).
For both companies good to have a piggy bank. (3Mio AUD each)
Listened to the webinar last night , for me two things crop up .
Investors who have HL as brokers , and like me have IRR shares in an isa wrapper , were told by Vincent to change broker as an answer to a question from a pi .This will probably make me sell my IRR shares today and buy ALL when they list.
The second thing is he said IRR valuation is x4 less than our peers , and gave all the reasons why the share price should be higher .So my question is why ? Is it because of our location , are investors wary of all the deposits being in Africa , I cannot see another reason.
Yes, disappointing answer. Can't see any of the nominee brokers being able to take up the ri in RICCA, a has anyone confirmed they will be able to? In which case it's downward pressure on the SP for IRR
cyfalafwr - I'm slightly confused as to why you would sell your IRR shares now and miss out on the free Ricca shares?
To your second point I think there are two factors. 1) Geography as you rightly point out. Whilst Ghana is mining friendly and much safer than much of the rest of the continent, it is still Africa, not Australia or Canada. 2) The investment case as-things-were was not particularly clean. If you are an investor wanting exposure to a proven and highly promising lithium asset, you also have to take on the risk and exploration costs associated with the gold assets (fundraise, potentially poor drill results etc). For a while this acted in IRR's favour as the company was (possibly) seen as well-hedged through its diverse portfolio. Now with the Ewoyaa much further ahead in its development cycle than our other projects, it makes sense to spin it off, rebrand, and get the message out there that this is one of the best lithium plays out there at the moment.
At the start of this year I said I'd be happy with 45p by year-end (much to the ridicule of the £1+ crew). Unfortunately I think I'll be around 3 months out. If ALL doesn't achieve that price before April I'll be very disappointed.
SM
Great to see a rise up. I'm frankly amazed at the opportunity still on offer here. Making money in investing isn't easy, nor is it supposed to be, IMO the Ricca situation is an inevitable part of investing life - if you want the biggest rewards you often have to go out of your way to get them. Vince confirmed last night that anyone holding shares at the record date will receive a share certificate & will be able to get their rights issue shares, he said you could contact IRR directly to get help.
As for valuation, I think an awful lot of it is down to the wider market perception that we are still an explorer. There are hardly any posts on here or ADVFN, nor on Twitter. The biggest thing on the call last night was Vince stating they want Eyoyaa to be in production by 2023, which again is well ahead of market expectations...
Between now and then we'll likely have several updated scoping studies, a PFS and a DFS, all of which should reaffirm the amazing project economics. Once we get to DFS, the share price should reflect the potential far better than now. No point putting a number of where it could be because there are too many factors at play, however with EBITDA at $105m per annum on Spod prices of $650, it should be multiples higher than present. Could we even see dividends as early as 2024 if Spod prices remain anywhere near current levels?
Sharketmare, it's one thing expecting your nominee broker to hold your unlisted shares for a while until they are relisted somewhere & then dealing with it, it's another asking them to buy unlisted rights issue shares for you & holding them. The only option might be to ask for certified shares to get the rights issue & all the paraphernalia that goes with it.
Shear - a lot of people jumped from here onto Telegram when the paid derampers turned up here in Feb/March. If your not on it jump in, good bunch and some good chat over the positives and the negatives.
Shear - a lot of people jumped from here onto Telegram when the paid derampers turned up here in Feb/March. If your not on it jump in, good bunch and some good chat over the positives and the negatives.
Its a complicated issue and looks like a few people might miss out on the chance to but their extra shares (me being one being with AJ Bell) but I think the logic behind the decision not to list makes sense. Im assuming they done it to avoid a mass sell off on day one for those not interested in the gold. Hopefully the period between Ricca new company and an eventual listing will be full of positive news which makes it compelling to hang onto your shares. Though to be fair constant good news hasn't done much for the share price in IRR.