Reach was floating with not much and then in March 2022 Jeremy Bower joined REACH.
His job was to increase tenements, decrease debt and get ROI for holders. This took about 5 months and then late last year he started acquiring and looking.
With a few runs on the board and what was happening over at DLI and other neighbours he pulled off a few major things. Jan / Feb 2023
- Acquired 1 - Morrissey Hill, paying $50k cash 4.1.2023, plus a further $150k later on, plus 200m shares and 1% of royalty with an escrow of 6 mths
- Acquired 2 - White Castles, paying $20k cash 3.1.2023, $120k cash 1.2.2023, another $100k on settlement plus 30m shares and an escrow of 6 months
- He then got rid of all the debt
REPAYMENT OF LOAN The Company and its major creditor, Bath Resources Pty Ltd ("Bath"), have agreed to a settlement of the $450,000 owed by the Company to Bath through the issue of 75,000,000 shares in the Company which represents $300,000 worth of shares at a deemed issue price equal to the issue price pursuant to the Placement ($0.004), with the balance of the debt to be forgiven. Repayment on the above terms is subject to shareholder approval, at the general meeting of shareholders to be held on 5 April 2023.Quick idea and run down.
So now with back then Feb / March RR1 (REACH) has $2m in the bank and no debt moving forward.
Then we needed an exploration manager to get the ball rolling in our new tenements.
Then the last 2 weeks we have had big news re
We own 10% of ReeCycle Inc which is about to start to show its stuff I believe. There is a huge conference about to take place regarding Mining around the world and sustainability where these guys will come up I have heard. This conference is a who's who of world politics past and present.
https://eiti.org/eiti2023/speakersSo thats a quick run down of RR1.
Jeremy is very approachable and currently in his own words to me he is focused on getting a return for all holders instead of doing meet and greets at present. He is not long back from a Singapore conference (Now 2 months ago) where he secured some Asian investors.
So far I can only see a lot of positives from the BOD and what they have achieved since Jeremy coming onboard. Now with Steve onboard too it should race ahead and we get to see our ROI growing.
