I was also wondering who owns the other 6% of RRM? So REEA owns...

I was also wondering who owns the other 6% of RRM?
So REEA owns 34% of RRM
IXR owns 60% of RRM
3rd Party owns 6% of RRM.

I am sure the timing of the acquisition of that 34% was dictated by the negotiations re the acquisition of the recalcitrant holder of the outstanding 6%.
I say that because IXR has been saying for a long time, that they were working on achieving 100% ownership of Makuutu Project.

I can tell you from experience, there is a big difference in owning 100%, than owning 94% !
94% gives you voting control, but not control of full ownership of the Project.

So every decision which affects the funding, offtakes, management etc of the Project, will need to be made with the interests of that 6% shareholder in mind.

That will be a pain in the butt for IXR. It will unnecessarily complicate and take time to negotiate with equity/debt funders and offtake parties.

I would guess that the 6% holder was holding-out for better terms. One would hope they are smart enough to allow IXR to work for the best deal for the Project - and not play a damaging role??

When IXR looks for funding for the full development of the Project, it will look to fund its 94%, but the other mob will need to fund its 6%. Unless they co-operatively work with IXR to fund the full 100%. And that where it can get difficult, because any project funder will demand security over the entire project.

As time progresses, that 6% holding should become more valuable.

Look for IXR to chase down that other 6% over time.