Today, 11:32 AM marketguru marketguru is online now Gold Member
Join Date: Jun 2008 Posts: 1,178 Quote: Originally Posted by victor View Post ROS :yellow stone revised terms http://www.asx.com.au/asxpdf/2011072...pdm1vgw08w.pdf THERE YOU GO BOYZ THE FIRST SURPRISE. As many people thought originally, ROS doesn't need to raise $104 Mil US, only just the $14 mil cash is needed to get 51% upfront with $30 mil worth of shares. If the JORC is not more than say 225000 tonnes of contained copper at a minimum of 1.15% then ROS will get an extra 24% at no cost what so ever. The figure the owner is throwing around is 560000 tonnes of contained copper. So what does this show us. This has to be a massively proven project for them to use that figure of 560000 tonnes ( slightly bigger than Sandfire Resources with much better grades ) of contained copper at 1.15%, they are not stupid to give this project of 24% away for nothing. Ros Smith is a genius in my opinion to get these new terms worked out.Not too much cash to raise. He has the confidance in the SP to go very high otherwise he wouldn't negotiate a $30 mil in shares for about 20% max of the issued capital. Remember the Silver is flying like there is no tomorrow and Akjilga is one of the world's biggest silver deposit at this moment. So ROS is heading in the right direction with the 2 projects it has acquired. Cheers.
http://www.theaustralian.com.au/busi...-1226095307588 http://www.theaustralian.com.au/busi...-1226102023570 Last edited by marketguru; Today at 11:37 AM. Edit/Delete Message
ROS Price at posting:
35.0¢ Sentiment: ST Buy Disclosure: Held
