This is interesting ...
Mr. Peter Ross Sullivan
Non-Executive Director of Resolute Mining Ltd.
Chairman Zeta Resources Limited (appointed 2013),
Non-Executive Director Panoramic Resources Limited (appointed 2015),
Others
Mr. Marthinus (Martin) John Botha
Non-Executive Independent Chairman of the Board of Resolute Mining Ltd.
Non-executive director of Zeta Resources Limited (appointed 2013).
Others
Mr. Peter Ross Sullivan
30/04/18 Sold 400,000 $1.150 ($460,000) On-market trade.
30/01/19 Sold 500,000 $1.142 ($570,936) On-market trade.
Number of securities held after last sale 2,340,674
Change in Substantial Holder Announcement 8/02/2019
Previous Notice 142,170,154 Ordinary share voting power 19.17%
Present Notice 137,552,154 Ordinary shares voting power 18.14%
Difference of 4,618,000
Date of Change 29 AUG 2018 - 08 FEB 2019
Persons whose relevant Interest Changes
Alliance Life Common Fund Limited - Sold 1,510,000 $1,205 ($1,819,882) - Sales on market
Zeta Resources Limited - Sold 2,891,000 $1.154 ($3,336,398) - Sales on market
Alliance Life Common Fund Limited - Sold 217,000 $1.19 ($258,230) - Sales off market
Total 4,618,000 shares
Zeta Resources Limited (From company website)
"Zeta Resources Limited ("Zeta") is an active, resources-focused investment holding and development company. Zeta invests in a range of resource entities, including those focused on nickel, gold, copper, oil & gas, bauxite, graphite and base metals exploration and production.The investment aim of Zeta is to maximise total returns for shareholders by identifying and investing in resource assets and companies where the underlying value is not reflected in the market price."
(ASX ZER) Zeta Resources Limited Interim Financial Report for the 6 Months ended December 2017 (Page 15 of 26)
Investments held by the company at the reporting date
The company lists a number of listed and unlisted shareholdings (report available on ASX ZER)
As for Resolute Mining they state 20,784,000 shares
Then they say:
"During the reporting period the company also received loans from its subsidiary Zeta Energy. To secure the loans Zeta Resources has pledged certain quantities of its shares held in listed entities.
The shares pledged include: Resolute Mining Limited (11,000,000) and Panoramic Resources Limited (6,666,666)"
Off the topic but why 6,666,666 haha
I would say if you are interested in this then go and read ASX:ZER announcements because honestly this is well above my pay grade to understand who lent money to who and what it all means.
Anyway then we move on to:
(ASX ZER) Zeta Resources Limited Preliminary Final Report for the year ended 30 June 2018 (Page 16 of 16)
Zeta no longer lists shareholdings by company, but lists assets be region:
From this its hard to see what they own in Resolute Mining Limited
Under Australia they state at June 2018 US$109,623,707
Under Mali they state at June 2018 US$13,466,126
They also say:
21. Going concern
"As at the end of the year, the company has a US$4 million loan facility with Bermuda Commercial Bank expiring on 8 March 2019. The company is in negotiation with Bermuda Commercial Bank to extend the facility. If the terms of the loan cannot be renegotiated the company will repay the outstanding debt when due from the realisation of portfolio investments. Creditors and short term payables as at the year-end have all been settled through cashflow generated from the realisation of portfolio investments"
22.1 Alliance Mining Commodities
"Zeta Resources Limited has subscribed to a further issue of shares in Alliance Mining Commodities Limited ("AMCL") to take up to 1,883,668 shares for a consideration of US$2,542,951. The share issue notice was gioven on July 2018. Zeta currently holds 26.7% of AMCL."
Zeta Resources Address by Chairman Peter Sullivan (also director of RSG) to the annual General Meeting
5th November 2018
With regards to RSG quote:
"Resolute Mining, which is around 11% of our portfolio, is in a similar position, currently developing underground gold mine at Syama and on track to ramp up over 2019. This is a long life mine, embracing autonomous mining with the opportunity for a market re-rating on successful execution."
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Don't rely on anything published above. All of it is available in its original and complete form on ASX under ZER and RSG. I had to retype most of it so I could have made mistakes all over the place.
If of interest do your own research and go direct to the ASX reports.
Frankly it would be good to hear from RSG on the matter.
This is only in my opinion, not offered or to be taken as financial advice, DYOR
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