Today, marketguru Gold Member Join Date: Jun 2008 Posts: 1,089
OK Boyz now the announcements are released officially, we can discuss freely about what will hapen. From what I heard from the top the 5 steps that will occur, are First of all it takes 4 to 6 weeks to organise a prospectus with the 2 executed documents on Yellowstone and Akjilga. Once this document is ready then ROS can call a shareholders meeting. I heard the most likely time frame for this is last week of July. Remember the suspension will be lifted the moment Shareholders Meeting is announced not conducted just announced. So ROS shares will be in suspension till the last week of July roughly 5 weeks or so. Second By this last week of July two things will happen 100%. The Yellowstone JORC resource announcement would be ready. Also the Divestment Process of Akjilga would be ready as well. In other words the day suspension is lifted after the meeting date is announced, The JORC resource on Cu and the Akjilga divestment will be announced, prior to the commencement of trading in ROS on that day. Third Then ROS shares will trade for roughly 5 weeks on ASX till 1st week of Sept or so. Fourth Then prospectus would be released around 1st week of Sept,for capital raising with existing ROS holders get top priority. Ross Smith is so confidant of the Cu JORC that he wanted to raise the capital very quickly with only to existing holders and with instos who are on his back to jump in. Trading halt will commence at the same time. Final Then ROS wanted to finish the raising quickly in 3 weeks and resume trading for good in the last week of Sept. Once the shareholders approval ( which is a formality ) is achieved with the change in the direction of the company, ASX can't bother ROS any more, when they acquire the Potash, Gold, Tin, Manganese and Coal projects which are ready to be announced. No doubt this pain caused by ASX is not good. But the upside I see it very clearly is, No more ASX hastles after this. JORC Cu announcement in late July on the same day as ROS resumes trading. ( No more ifs and buts, we all will know the resource size ) Also Akjilga's divestement plan too would be ready by then. ROS can go ahead and acquire what ever it likes from then on, as they had the share holder approval by then for the change in direction of the company. All of the above are facts not fiction. So why should I worry about the suspension till the end of July. Who knows, by then hopefully the market sentiment could turn around too. Now you all know, what I know. Cheers.
ROS Price at posting:
35.0¢ Sentiment: ST Buy Disclosure: Held
