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Ann: New Funding to Support Otjzondu Development, page-3

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Mango

139 Posts.

13/08/14

19:47

Post #: 13813306
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Originally posted by mc117 ↑

Does anyone have any background info on Bryve Resources?

From the announcement:
"In addition, Shaw River’s major shareholder Atlas Iron Limited (“Atlas”) will sell 9.69% of Shaw River’s issued capital to Bryve at a price of A$0.0035 per share. Subject to Shaw River shareholder approval, Atlas will also grant Bryve a six month option to acquire Atlas’s remaining 43.76% shareholding in Shaw River at an exercise price of A$0.0035 per share."

So AGO are giving away their entire stake for a discount the the last months trading range.

The options convert at a slighly better price.

I'll be interested to see how the market reacts.

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On first reading, sounds like a steal for Bryve. Possible merger down the track?

To the positives, a strong chance to really motor towards near-term production.

Acquisition price likely to impact Thursday opening, balanced out by the potential for production and subsequent revenue stream.

Thoughts?

AGO Price at posting: 68.5¢ Sentiment: None Disclosure: Unspecified

SRR Price at posting: 0.8¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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