Post by
AceBigelow on Apr 20, 2021 1:58pm
Very fishy is wrong about the ROE deal, here's why:
It is sad to see him spew totally false misinformation on this merger. Here are the facts:
Steinke signed this lease in Namibia under a private company. He gave it to a newly formed company that was created via reverse take over called "Recon Africa" in return for shares in the company. He had been working on signing the Botswana lease for years, well before Recon Africa was ever a comapny. Recon africa went public to finance the exploration campaign. Sometime in 2020 the Botswana lease negotiations were finally completed. Steinke allowed Recon Africa to own and operate the lease, and in return his private company paid 100K for a farm out option of 50% of the land. His private company strikes a deal with ROE for the farm out option and he gets his shares increased in ROE for assigning that farm out option to that company. Which makes a lot of sense considering he was the CEO of the company and they already stated they were looking for an alternative to Mexico. That was their alternative.
To state that RA just "gave" Steinke a farm out for 100K last year and bought it back for 125 mil this year is totally false and shows an agenda. Steinke is the one who leased all this land up on his own and did so under his own private company. These leases ending up in the hands of public companies are the result of the companies buying them from him by giving him shares. Recon Africa never owned this lease in the first place and just bought it back. That is totally false uneducated drivel.
I suggest everyone watch out for this VeryFishy guy. He is now known to clog up this entire board with demonstrably false negative disinformation and this company.
Comment by
Ebenizer3 on Apr 20, 2021 2:07pm
I think that's what you call Due Diligence. I wouldn't have the patience for typing all that in. Good job and hav a Great day