oliversydney
16 Apr 2018
NEWS I note that the North River website website has been updated and there is no mention of Namibian authorities having a direct stake but hold 10% of the subsidiary which in effect means we own 90% of the projectI agree with Cruncher1 that we most likely will be bought out once production commences as US investors like Castlelake would like a return on their money in the shortest time possible. If we get a good offer benefiting all shareholders will be fine by me
hubenstein
13 Apr 2018
relisting Is there any prospect of relisting?
Cruncher1
11 Apr 2018
Re: News I would be surprised if we ever get any dividend paid out as I think its far more likely that the company/mine will be sold in a year or so (maybe a few months either side of when the construction work is finished).The two majority shareholders will undoubtedly have an exit strategy and I doubt that their primary intent involves hanging around until the mine's resources are fully depleted ... but I could be wrong.
oliversydney
11 Apr 2018
News I also received the update and all good news especially full production by March 2019.I am quite happy for the Namibian government to have a stake as will keep all parties with an incentive. As I read it they do not have 10 per cent in North River resources but in the subsidiary Namib Lead and Zinc Mining (Pty) Limited which is a 100 % subsidiary so 12% of North River is still owned by the directors and private shareholders
RosieVDB
11 Apr 2018
Info appreciated I am still fully invested here and am struggling to fully understand the full implications to my investment of ongoing developments. I understand that Greenstone and the new investor each have a 44.11% holding. (88.22%) that Local Namibians have been given a 10% shareholding as a requisite to approval of mining licence. That equals 98.22%. Leaving 1.78% to other shareholders. Have I misunderstood this sum? From whom was the 10% local shareholding taken? Is it reasonable to assume that once in production Q2 2019 we may reasonably expect to receive dividends? Any information from more technically minded and adept brains much appreciated.
LexiPexi
11 Apr 2018
More news! funding complete [link] Project proceeds into construction
oliversydney
26 Mar 2018
NEWS I have just noticed on Friday the company has appointed 2 new American directors who are both high profile directors of Castlelake LP in particular Brent de Jong. It is of great significance that Castlelake a multi billion company are investing in our company as there must be hoards of listed mineral companies that would be desperate for their financial backing. I am sure they must have done due diligence on North River and must see very large potential to invest in a small unlisted company so exciting times ahead
AuGment
15 Mar 2018
Re: News Yes I saw that too. Having held against my better judgement when they delisted, I now looks as though i made the right call. Ive got a massive way to go before I break even but this is a good start. With miners in favour at the moment and high Zn prices I can see this going further. Why they may even re-list!
oliversydney
15 Mar 2018
News I have noted yesterday on Companies House website for the company confirmation of all resolutions and allotment of additional shares. With the license granted and funding in place it would appear for the first time in years production is on the horizon.With substantial investors behind the company could be very exciting and profitable times ahead
donkey derby
01 Mar 2018
North River I am no longer a holder but some kind souls have kept in touch with me and more recently made me aware of the placing.I often wonder what would have happened with the development of Namib had Martin French stayed on and remained ceo. He may have obtained the mining permit earlier than has been achieved and if so, the mine might have been built earlier; indeed the Chinese shareholder may have assisted with the finance needed to build the mine.If so the mine might have been in production in H2 2017 or this half H1 2018 and have ridden the increase in zinc prices as well. Good for the cornerstone investor, Greenstone and good for the private investors.All hypothetical, I know, but I wish all you PIs who have remained invested good fortune.
oliversydney
01 Mar 2018
News As a long standing shareholder I was delighted with the fund raising proposal at 20 pence a share valuing the company at ten million. Greenstone and CL Ventures expect to make a return on their investment and would anticipate the company having a higher value when mining commences with productionI notice on the matched bargain company Assetmatch there is now a cheeky order to buy at 3.5 pence which would be a bargain if anybody is foolish enough to sell at that price. I have voted in favour of the resolution and am not bothered by being unlisted as presumably in the future there will be a plan to release the value to the shareholders
Fools Like Us
28 Feb 2018
EGM Shareholder vote Well, it comes around again doesn’t it? I wonder if Greenstone keeps an eye on this board? March 6th I believe the vote is. All that time waiting until the price of Zinc got in to the range where it was profitable to extract the reserves out of Namib.Who knows what letters and emails are being sent out - I wonder if the various entities have spoken? Does China know? Have they sold their shares to someone else?I wonder if the Namibian partner has been lined up? It’s a good thing, Zinc Oxide is needed in electronics - if this had been delivered in a different way, this company could have shared the revenue between private and institutional holders.I hope that something will come to stalwart PI’s who supported this project when it was on its knees - I admire the dedication and loyalty shown. As to others, I will allow the Wikipedia description to stand.“A Pyrrhic victory is a victory that inflicts such a devastating toll on the victor that it is tantamount to defeat. Someone who wins a Pyrrhic victory has been victorious in some way, though the heavy toll negates a true sense of achievement or profit.”FoolsLikeUs.
Cruncher1
26 Feb 2018
Re: Time for an update NR Proposal now on NR & Asset Match websites.Says Greenstone will vote in favour which makes voting by the rest of us seem rather irrelevant. Also Greenstone & CL ventured to provide loans totalling $14.7m @ 15% per annum.In the circumstances I’m in favour of this & remain pleased with CL’s proposed 20p a share entry point.
Cruncher1
23 Feb 2018
Re: Time for an update NR Thanks Augment, that's very helpful.I'm pleasantly surprised by the share price (about 20p) for the new shares.Assuming Greenstone are getting 4,034,537 extra NRRP shares that will mean that Greenstone and CL Ventures will each own about 44% of NRRP.51.5% dilution for us though, but at least the show is (hopefully) still on the road.
AuGment
23 Feb 2018
Re: Time for an update NR from the prospectus NRRP intend to issue 24,010,037 subscription shares to CL Ventures at a price of $0.2817 per share to raise around $6.76m to fund development of Namib. They also propose to convert the Greenstone convertible loan into 4,034,537 new greenstone shares. Both need shareholder approval hence vote.My reading of the prospectus suggests there is no value in voting against as this appears to be the only option available to develop Namib. The alternative is administration.In time there may be some value accruing to smaller private shareholders but nowhere near the value that most have invested here.
