Some serious 40k and 30k bids in the queue. Always good to get in before the ann. A sleeper but for how long?
Article from proactive investors yesterday;
Red Gum Resources (ASX: RGX) has reported that it is in advanced negotiations to acquire a "value generating, non-resources business opportunity".
The company recently completed a capital raising with DJ Carmichael, raising $580,000 at $0.003 per share to facilitate the potential acquisition.
Given the positive investor sentiment towards technology companies at present, and the strong performance in particular of newly acquired technology businesses being made available to trade publicly, it would appear they are negotiating an acquisition in the technology sector.
Red Gum’s 100% owned mining concessions at Cerro Huancash, Chongos and La Negra in Chile will continue to be maintained in good standing.
The company is capitalised at $2 million, and will be interesting to watch if and when the hinted transaction is finalised.
RGX Price at posting:
0.6¢ Sentiment: None Disclosure: Held
