Barbossa
22 Feb 2018
Re: Time for an update NR Mine also held in nominee account. I have received brief notification of meeting from my stockbroker and proxy form to vote, although no details of resolutions, or proposed share issue. From the proxy it looks like they want approval to issue shares free of pre-emption rights, so I would guess shares only for the "chosen ones"........Clearly the company needs to raise some funds either though debt or equity if it is to get the mine into production, but it surely it would only be fair to give all shareholders the opportunity to participate if they choose to? Presumably that facility has been vetoed on cost grounds.Anybody got any further details of the proposals please?
Cruncher1
22 Feb 2018
Re: Time for an update NR My shares are in a nominee account and I haven't received the AGM info.There's doesn't seem to be any info about the AGM on the NR or Asset Match website.What are the terms of the $6m raise? is it all equity? some debt?If equity then at what share price? presumably largely a placing? have Greenstone said they'll take some?According to the NR website (don't know if its up-to-date) Greenstone own 75.69% of the shares, so whatever it says goes as far as the vote is concerned.
AuGment
22 Feb 2018
Re: Time for an update NR Have you received the AGM invite? NRRP intend to raise around $6m to fund development of Namib. They need shareholder approval though for the new shares - hence the vote. As expected they ( Greenstone) think its a great deal for shareholders - not surprising as they own most of the share base anyway. Oh and if they dont get shareholder approval for the issue of 28m new shares they threaten receivership - as they have done in the past.My shares are now almost worthless now and will become less than worthless after this massive dilution.
Cruncher1
22 Feb 2018
Time for an update NR No update for over 4 months & this from a company that stated in its 24 March 2015 RNS that it is committed to holding quarterly conference calls with its shareholders.What’s happening with the Namib project? financing?
Cruncher1
04 Dec 2017
Worth a read [link]
Cruncher1
09 Nov 2017
Zinc shortage & price surge [link] current zinc market must make North River a potentially attractive take over target, but maybe when it’s a bit closer to production or proves up more reserves?
AuGment
20 Oct 2017
Re: Updates Resources and reserves Yes i too have a large holding with average price well above indicated value when AIM listing was cancelled. The economics of the project were never in doubt for those who did the math which is why I didn't sell up at rock bottom earlier in year. - hopefully with much improved Zn price and more certainty over relationship with Namibians we will now see some value coming through. Here's hoping!
oliversydney
20 Oct 2017
Updates Resources and reserves update just out which can be seen on assetmatch websiteLooking very good with construction to commence in early 2018 to last less than 1 year and payback within 1.5 years and a NPV of US $34.9 with a mine length of 8 yearsI have a large holding in this over the years and the value now could be substantial so a lot to look forward to
AuGment
17 Oct 2017
Any News? With Zn price at a high I'm surprised we've not heard anything re progress now that licence has been awarded. Earlier studies confirmed the viability of the NLZM at much lower Zn price but funding or sale do not appear to be on the cards. Any1 heard anything?
hubenstein
20 Jul 2017
Re: So what's happening? I see someone is trying to sell about 4148 on Asset Match at 2.75p. Can't remember where we were when we delisted?
Cruncher1
18 Jul 2017
So what's happening? They advised us about the receipt of the mining licence in early June.The release also stated: "New metallurgical testwork is planned for mid-2017 on fresh, recently drilled core samples from the North region. This work is seen as confirmatory testing for the processing of North orebody material only. Additional testwork will be conducted on old tailings dump material in order to evaluate the appropriateness, and optimisation of, a process flowsheet separate from the fresh ore stream. Following the grant of the Mining Licence, the Company will now fast-track the update of, and optimised project profile for, a final construction decision, incorporating improved understanding of the orebody gained from all exploration drilling, metallurgical testwork and related process design work, carried out since the DFS was completed. "Can we presume that the metallurgical testing is, or has, happening? (we're now almost a month past "mid-2017"
.What's the timetable for the "fast-track" of the final construction decision?How often will shareholders be updated?Can't help thinking that a possible outcome will be an eventual sale to a Chinese company.
jimzim
09 Jun 2017
Re: Mining Licence !!!!!!!!!!!!! Good news but ... such a long way to go. Plan still not finalised and then the financing to find. But still alive, which is a minor miracle.
Suhari
09 Jun 2017
Re: Mining Licence !!!!!!!!!!!!! Phew.Glad I kept topping up. Shame I sold the lot at a big loss a few months back!
Cruncher1
09 Jun 2017
Re: Mining Licence !!!!!!!!!!!!! 9 June 2017North River Resources plc (North River or the Company) is very pleased to advise that Namib Lead and Zinc Mining (“NLZM”, its wholly owned Namibian subsidiary, has been issued with a Mining Licence for its Namib Lead & Zinc Mine (Namib Project) from the Ministry of Mines and Energy.Mining licenceThe mining licence application for the Namib Project was filed in April 2014 and the Company has since then been actively engaged with the Ministry. On 28 January 2016 the Company received from the Ministry a Notice of Preparedness to Grant the mining licence (“Notice” for the Namib Project.The Notice contained a number of supplementary terms and conditions relating to mattersincluding, inter alia, the work programme, production, environment and Namibian participation in the Project that will apply to the mining licence (the “Supplementary Conditions”.North River sought clarification from the Ministry on certain aspects of the SupplementaryConditions and its interpretation of them, and pending this clarification, accepted the Notice on 26 February 2016. In accordance with the process set out in the Notice, the Company then submitted a proposal to the Ministry on 25 April 2016, covering local ownership of the Namib Project, participation by historically disadvantaged Namibians in management of the Namib Project, and the Company’s corporate social responsibility strategy.In November 2016, the Ministry indicated that the Company’s proposal to set up two Trusts, the“Namib Lead & Zinc Mine Community Empowerment Trust” and “The NLZM Employee Benefit Trust” would meet the Ministry’s requirement for Namibian participation. On 29 May 2017, the Ministry issued a 10-year mining licence, effective from 25 February 2016.Namib Project development and optimisationFollowing completion of the DFS in November 2014, a number of areas were identified whereadditional technical evaluation work was required to define a mine plan and processing plant design to a level of confidence to support a project investment decision.New metallurgical testwork is planned for mid-2017 on fresh, recently drilled core samples from the North region. This work is seen as confirmatory testing for the processing of North orebody material only. Additional testwork will be conducted on old tailings dump material in order to evaluate the appropriateness, and optimisation of, a process flowsheet separate from the fresh ore stream.Following the grant of the Mining Licence, the Company will now fast-track the update of, andoptimised project profile for, a final construction decision, incorporating improved understanding of Corporate Update of Activities & Issue of Mining Licence for the Namib Projectthe orebody gained from all exploration drilling, metallurgical testwork and related process design work, carried out since the DFS was completed.Corporate activitiesThe final investment decision to develop the Namib Project will depend on favourable projecteconomics and the availability of finance for the up-front capital required for construction.Over the past year, the Company has drawn Shareholders' attention to the efforts of the Company to identify cost saving opportunities. In line with this need, the London corporate office was closed and all other corporate costs reduced or eliminated. In Namibia, following completion of the drilling programme in late 2016, activity on the Project and at site was cut right back pending clarity on the development timeline for the Project.North River furthermore announced on 17 March 2017 that the resolution to cancel the admission to trading on AIM of the Ordinary Shares was passed by shareholders, and was made effective on 27 March 2017.Share tradingFollowing the cancellation of the AIM listing, the Company appointed Asset Match to facilitatetrading in the Ordinary Shares. Asset Match is a firm authorised and regulated by the FinancialConduct Authority and operates an ele
Cruncher1
09 Jun 2017
Mining Licence !!!!!!!!!!!!! According to Asset Match:North River Resources has announced that its wholly owned subsidiary, Namib Lead and Zinc Mining, has been issued with a Mining Licence for its Namib Lead & Zinc Mine from the Ministry of Mines and Energy.
