RE:OverhangSo nice to see someone posting relevant information. I appreciate the 'tell it like it is' posts much more than the usual pumper/basher trash these boards are usually filled with.
It looks like there are a couple of batches of cheap paper about to hit the market. With gold still slipping and this overhang psychologically capping the share price, it seems that there will be an excellent buying opportunity for ROG shares at some point in the next 3 months. If this down trend continues, my money will be on the bottom being a couple weeks before the tax loss deadline - as it was last year for most junior resource stocks. Ideally I'd like to see the company extend the exercise deadline on those 90c warrants for another year. Take away that overhang worry 9-11 months from now. It sure does seem like IFC got a heck of a sweet deal from management in September. Too sweet imho.
A bottom turn in December followed by some actual earnings in the spring would make an excellent present for the holidays.
GLTA longs
ROIcrusader wrote: I'm of the same opinion of most on this board that the share price does not reflect the value of this co. The one thing that I found that may be impacting this is the 8.9m shares issued in a PP with AUMS July 20/15, with the shares in escrow until Nov 2016. Also, there are approx 25.7m units in a PP w IFC that are free trading. Considering each share issued with a 90c warrant gives IFC a fairly healthy profit if they flip the holdings and buy the warrants.
Anywho, just a bit of older info, but may shed some light on what's keeping a lid on this.
GLTA
On July 20, 2015, the Company closed a US$5 million ($6.3 million) private placement to AUMS in connection with its mobilization. The private placement consisted of the issuance of 8,979,286 Roxgold common shares (the "Subscription Shares") at a price of $0.70 per share, for gross proceeds of approximately $6,284,000. During March 2016, AUMS entered into an escrow agreement with Roxgold for an eight month period for the 8,979,286 shares on the basis that Roxgold does not utilize the Mining Contract Option during the escrow period.
For more information please refer to the Company's March 8, 2016 press releases available on SEDAR at www.sedar.com.
On September 9, 2015, Roxgold closed an $18.4 million non-brokered private placement to IFC. IFC's investment consists of 25,783,352 units (the "Units") at a price of $0.7136 per Unit, for gross proceeds of $18.4 million. Each Unit consists of one common share and one-half of one common share purchase warrant. Each full warrant will be exercisable for one additional common share of the Company, at a conversion price equal to $0.90 per share. The warrants expire September 9, 2017.
With the balance of funds remaining from the Credit Facility of US$24 million, the funds from the private placements to AUMS and IFC, respectively, and a further US$10 million available from AUMS, if necessary, in exchange for pre-production underground mining services (which has since been replaced by proceeds from the $23 million bought deal financing closed on March 8, 2016), it is anticipated Roxgold is fully funded to complete the Yaramoko project and to successfully put it into commercial production.