Thanks for providing some background on JRV's mining interests. You've clearly got it covered. As I've mentioned previously, I'm clueless on that subject.
John Byrne is a Director of the TSX-V listed CPC, Lions Bay Capital. As part of their Qualifying Transaction (QT), there's a pending acquisition of Pan Andean Capital of which John Newton is a principal director.
At last count Pan Andean (Newton) holds 5,445,336 shares in JRV. As part of the Share Exchange Agreement (SEA) with Lions Bay, Pan Andean will 'sell' all their publicly listed shares (ASX:JRV, ASX:KPO, TSX-V:GRR) to Lions Bay in return for 'Payment Shares' up to a maximum value of $3.5m (or 70m shares). Upon completion of the QT, Newton joins the Board of Lions Bay and Pan Andean become a wholly owned subsidiary.
Drawone Pty Ltd are also involved in the QT to some extend. Drawone is Newton's Investment Trust and recently became a substantial shareholder of JRV as part of the underwriting for the rights issue.
My thoughts are that a maximum purchase price of $3.5m could limit the upside on JRV until the QT is approved by the TSX-V. The closing date for the SEA was recently extended from June 30th 2017 to December 31st 2017.
Of course none of this has anything to do with JRV's mining projects but I do find it interesting and quite useful to research the corporate history, director relationships and money flow of speculative stocks because often these factors have more relevance to the potential success of a company than a few nickel or cobalt deposits.
And just for the record, I am NOT in any way insinuating or accusing anyone of foul play here. This is all publicly available information.
Interesting that you should bring up CLQ as from memory, another John Byrne company, Wasabi Energy (now KPO), owned a large stake in CLQ until they were forced to cash out in an attempt to remain solvent back in 2012/3. There's a lot of dots to join IMO.
P.S. No need to get so paranoid @cdchi1, I'm not here to rain on your parade mate. Obviously JRV has done well going from 5c to 14c. Reminds me of KPO's run after recapitalising late last year. Just gotta know when to pull the 'sell' trigger I guess!
JRV Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
(20min delay)
