RCF; Getting to Know You

In case it’s ever useful I thought I’d start a thread specifically focused on Resource Capital Funds.….
… That’s RCF in general, but also specifically focused on Fund #7.

My interest is due to RCF Fund VII declaring a 5.35% interest last Friday in the Vanadium project next door to TMT (TMT is the Vanadium project here, where RCF VII holds a longstanding  17.2% interest as of a cap raise in 2021)

(NB; these shares were bought for $13.5m at 37.5c on  23/09/ 2021 [ref]).​

(NB;NB; the AVL shares cost $8,050,039.24 *​

{*and re that amount, somewhat intriguingly by my calculations, if it had spent - I think - just $29,000 less than the $8,050,039.24, it would have remained under the 5% level at which it needed  to say it was a substantial holder !**)​

{**I interpret this to mean mean it decided to “come out” for reasons currently unclear?)


BUT ***** !! Whilst there’s  been lots of curiosity about what the RCF secret plan might be the whole coming out thing might simply mean  personally  Martin  Valdes (Find him here; He is the head honcho of RCF VII] is a bit like me with numbers .
IE  He might have simply  got the US to AUS$ currency mixed up and *was* intending that RCF lay low at AVL for a while, under the radar of curious shareholders?
{I mean that $29K Australian is less than $20K US at current rates!}






A bit more information:
Martin is based in Denver, (Google says that’s a city in Colorado … “ picturesquely set along the foothills of the Rocky Mountains and allows easy access to a whole host of great ski resorts.”
And his Fund#7 lives in the Cayman Islands.
There’s a phone number too

https://capedge.com/company/1687310/resource-capital-fund-vii-lp






And a bit more information …
Martin and those at RCFVII …

— including TMT’s ex non executive director,  Jacqueline Murray,  who resigned earlier this year [ref 22/02/23] after joining the board when RCF invested here (But it’s maintained its’ right to put someone else of its’ choosing in place).​

.. made things a bit difficult early last year at one of their other investments - Canadian company, IAMGOLD, so they are not always passive sit in the background type investors!


(Well we saw that when RCF and Australian Super joined together to help Pilbara’s, PLS take out the stricken next door neighbour AJM )

Anyway it can quite the activist.
it owned/owns  just ~5.2% of IAMGOLD
01/02/22https://financialpost.com/commodities/mining/activist-investor-calls-for-board-overhaul-at-iamgold-over-chronic-underperformance

01/02/22 https://www.prnewswire.com/news-rel...h-meaningful-mining-experience-301472461.html

03/02/22 https://www.prnewswire.com/news-rel...ding-and-inaccurate-statements-301474829.html


14/02/22 https://www.iamgold.com/English/inv...es-to-IAMGOLD-Board-of-Directors/default.aspx



… Looking forward to further thoughts/observations that add to general knowledge here on RCF and its’ people,

cheers