Both emails bounced back as unsent, so perhaps someone else would like to cut and paste the following letter and see if they have any success with the addresses provided.
Att: Ross Smith - Red October Resources
Mr. Smith, firstly I would like commend you for the proposed acquisitions of Yellowstone and Akjilga in May and June of this year, as success with either or both of these resources will benefit shareholders hugely especially given the grades of the silver at Akjilga and the nearby infrastructure (and market for copper in China) at Yellowstone.
Many of the holders on the Hot Copper forum have shared their concerns however at the lack of information about the acquisitions and no date being set for a cap raising and change of compliance etc. Could you please take a look at the following questions and provide what information you can as we are aware that market sentiment has taken over and the original aspirations of ROS may have been usurped by the current overseas volatility.
With your approval I will post your reply on the Hot Copper share forum.
1.The deadline for the agreement to purchase Yellowstone has expired. Does this mean Red October will no longer be pursuing this asset?
2. Shareholders were advised of a drilling campaign at the Yellowstone copper deposit to confirm historical drilling of this resource, with a maiden jorc to follow. Why hasn't the jorc been announced to market?
3. The indicative timetable following the purchase of Yellowstone 27/May and Akjilga 10/June seemed to be on track as of 01/July when the Notice Of Meeting was submitted to the ASX. What was the reason given for the ASX not releasing the NOM re compliance and capital raising to shareholders?
4. Can the company give shareholders any assurances that the acquisitions are still going ahead in any way shape or form, given the current state of the markets?
5. What is the cash position of Red October at this time, given the deposit of $2 million for Akjilga and the exploration efforts including a drilling campaign at Yellowstone?
6. What is the future direction for ROS in the event that both acquisitions have to be abandoned?
ROS Price at posting:
35.0¢ Sentiment: None Disclosure: Held
