Spot on pal. And most of the time I like to keep my moves on the stock market ' Silent ' . And that's why you'll mainly only see me participating in just the ONE stock discussion only.
Namely because I can see that I am being tracked in the social media circles and personally don't want the notoriety and responsibility for people who choose to follow others on matters of this nature.
So I have preferred to remain ' Quiet ' about my moves. This strategy also allows me to navigate and accumulate my parcels without the ' commotion ' and ' Hoopla ' of what others are endeavoring to ' Play Off ' of these comments etc.....
But I'm happy to make an exception for this post and have been more than happy to back this story in along the journey.
And like all my plays , I have a lot of information and research I can throw into the discussion , but for the purpose of your reply , lets just say that our No 4 Top 20 shareholder in Sovereign Metals Limited who has taken TWO tranches so far since RNX's acquisition of the Carpentaria JV on 10th May 2021 . So their FIRST tranche was at time of acquisition , with the 2nd tranche of payment via issue of shares being at the 12 month anniversary of the commencement of the JV , with the FINAL tranche being May 2023 for another 10 million settlement shares.
So the thrust of my point here is , and in line with what you are saying with respect to capital raises , it would appear that Sovereign ( our Top 4 Holder ) hasn't sold down 1 single share since the acquisition was first made in May 2021. At least not at the time of the Annual Report issued on 30th September with Top 20 registered at 21st September.
And this would seem fairly significant since in reality , they ( Sovereign ) could have sold their FIRST 15 million share parcel at anytime since beginning of August 2021 after the escrow period ended.
So they must reckon RNX is worth more than what their potential 35 million shares would be worth NORTH of 1.0 cents or $350,000 which is what they could have taken at each of the milestone periods without ever being issued any shares at all.
They could have just sat back taken the first $100,000 in cash , then another $100 grand at 12 months with the final $150,000 at the 24 month period without ever having any upside benefit to taking and holding the shares ' Long '
So credit to them really , and it would seem they are still very vested in the interest of this project doing well.
Apart from that , I may comment or I may not comment any further as Hot Copper participation is NOT what I would consider a prerequisite for what I do or plan to do in the Market or more generally with my investing or trading activities. People have to be responsible for their own moves.......and own them.
But yeah , this could be a really good undervalued Copper Play. Lots going on in that area in Australia and around the world at the present moment.
(20min delay)