Firstly: How can an announcement that states one transaction has fallen through and the other is subject to a dispute be listed as "non-price sensitive".
Secondly, lets analyse the announcement:
The Copper project has fallen through, yet ROS appears to be using the "current market conditions" as an excuse for it not going ahead. However, as per my posts way back when this acquisition was first mentioned I raised concerns about the CR significantly diluting original shareholders. I think this is the real reason, shareholders were being asked to stump up a heap of cash or be diluted for a project that is still a fair way away from generating cash.
Furthermore the nature of the company's activities are so far removed from why they originally listed that I think many investors who purchased in the float would have been thinking "I just invested $X, now they want $x only a couple of months later".
In regard to the silver project they have received a "breach of covenant" because they could not finalise the transaction in time.
But now they state they are talking with their financial advisors about a share sale agreement before 21 October. That is in 3 days!!! If this goes through it will be a distressed sale and could significantly affect/dilute current holders.
Finally there is no word on when the company will be re-instated, no time frame for the next up date and no accountability by management.
I feel sorry for genuinue holders.
All IMO, DYOR
ROS Price at posting:
35.0¢ Sentiment: Sell Disclosure: Not Held
