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RUG Renn Universal

223.00
0.00 (0.00%)
01 May 2024 - Closed
Delayed by 15 minutes
Renaissance Us Growth Invst Investors - RUG

Renaissance Us Growth Invst Investors - RUG

Share Name Share Symbol Market Stock Type
Renn Universal RUG London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 223.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
223.00 223.00
more quote information »

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Posted at 09/11/2021 18:54 by stu31
Rugby Commences Field Work Prior to Drilling the Salvadora Silver-Copper Project, Chile

Tuesday 9 November 2021

Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) reports that field work is underway at its Salvadora project in Chile in preparation for Q1-2022 core drilling. The current program includes airborne magnetics, mapping and talus sampling along the non outcrop portions of the 7 km long alteration system.
Salvadora is located 40 km south of Barrick’s El Indio gold mine in the south of the El Indio gold belt that hosts +44 Moz of gold and 875 Moz of silver*. The Salvadora project was brought into Rugby through the acquisition of Proximo Resources (see News Release dated October 27, 2021). The exploration target is a high-grade silver-copper-gold ore deposit.

Mr. Peter Love, CEO of Rugby commented, “It is exciting to be preparing for drilling at Salvadora as it is a very impressive alteration system. We are fortunate that winter ended early enabling us to get on the ground sooner than expected. Investors can expect continuing updates on Salvadora as we move towards drilling. We will also have news on our El Zanjon gold-silver project in Argentina as work is in progress again on that promising project.”

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Location of the Salvadora Project, Chile

The Salvadora hydrothermal alteration halo is large, suggesting excellent ore potential. During 2020-2021, exploration work comprised road rehabilitation, geological mapping, geochemistry, alteration analysis and remote sensing satellite studies. 218 surface rockchip and continuous channel samples were collected from veins and mineralized exposures within the two main areas of the project. Much of the system is covered by talus (scree) such that artisanal mining on the vein focussed entirely on the limited sites of vein exposure.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Enhanced satellite imagery of the Salvadora project exhibits a prominent 7km alteration zone

Follow-up exploration started in October 2021. Given the extensive talus cover, it is essential to do additional broad-spaced work ahead of drill targeting. To that effect Rugby has engaged New-Sense Geophysics who are currently flying an airborne magnetic/radiometric survey over the entire property. The Company has also prospected and sampled the talus cover between the artisanally mined outcrop areas, with results expected in the coming weeks.

The talus sampling program will be very useful as the exploration team reported visible copper oxide mineralization in talus, well away from artisanal activity. The current program will significantly expand our knowledge of what appears to be a complex system. Drilling is expected to commence early in January 2022.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Sampling of talus material at Salvadora

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Recent aerial photo of a portion of altered talus material where sampling/mapping is underway

View Rugby’s most recent Corporate Presentation

Rugby has filed an independent technical report on SEDAR on the Salvadora project (the “Salvadora Report”) prepared by Dr. Gustavo Delendatti (PhD, B.Sc-Geol, MAIG) dated July 5, 2021, in accordance with NI 43-101. The Salvadora Report can be viewed on www.sedar.com

Paul Joyce, Rugby’s Chief Operating Officer and a “qualified person” (“QP”) within the definition of that term in National Instrument 43-101, Standards of Disclosure for Mineral Projects, has verified the technical information that forms the basis for this news release, however some of the information is historical in nature and the Company will be required to do further assessment of this data.

References Cited:

*Barrick 2004, Barrick Gold Corporation, Annual Report, 2004; SEDAR.com

*Barrick 2019, Barrick Annual Information Form for the year ended December 31, 2019; SEDAR.com Jannas, R.R., Bowers, T.S., Petersen, U., and Beane, R.E., 1999, High-sulfidation deposit types in the El Indio district, Chile, in Skinner, B.J., ed., Geology and Ore Deposits of the Central Andes: Society of Economic Geologists, Special Publication 7, p. 219–266.

*Porter 2001, El Indio Belt - El Indio, Tambo, Pascua Lama; Porter GeoConsultancy Pty Ltd, 2001; portergeo.com.au

About Rugby Mining

Rugby is an exploration company focussed on conducting “discovery stage” exploration at Salvadora in Chile. The Company is also advancing the El Zanjon gold-silver project in Argentina. In addition, the Company has projects and property applications in Colombia, the Philippines and Australia. These opportunities have considerable potential for gold, silver and copper discoveries but are secondary at this time to Salvadora and El Zanjon.

The Company benefits from the experience of its directors and management, a team that has either been directly responsible for world-class mineral discoveries or have been part of the management teams responsible for such discoveries. Two successful companies under their management were Exeter Resource Corporation and Extorre Gold Mines Limited, which discovered significant deposits in South America. These companies were purchased by Goldcorp (Newmont) and Yamana Gold respectively.
Posted at 31/7/2020 22:01 by stu31
RUGBY MINING ANNOUNCES CLOSING OF CAD$600,000
NON-BROKERED PRIVATE PLACEMENT
Vancouver, B.C., July 22, 2020 – Rugby Mining Limited (“Rugby” or the “Company”;) (TSX-V: RUG) is pleased to announce that it has closed the non-brokered private placement announced June 29, 2020 (the “Private Placement”), subject to TSX Venture Exchange (“TSX-V”) approval.
Due to exceptional demand, the Company took additional subscriptions over the June 29th, 2020 announcement and will issue 8,937,142 units (the “Units”) at a price of CAD$0.07 per Unit for gross proceeds of approximately CAD$626,000 (the “Offering̶1;). Each Unit consists of one common share in the capital of the Corporation (a“Share”;) and one transferable common share purchase warrant (a “Warrant”;), entitling the holder to purchase one common share in the capital of the Corporation (a “Warrant Share”) for a period of two years from the Closing Date at a price of CAD$0.12 per Warrant Share, provided that if at any time following the date that is four months from the closing date of the offering, that the closing price of the Company’s common shares on the TSX-V is CAD$0.25 or greater per common share during any 10
consecutive trading day period the Warrants will expire at 4.00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to warrant-holders, and the warrant-holders will have no further rights to acquire any common shares of the Company with the Warrant.
Two directors and one officer of the Company, whose applications were reduced due to other investor demand, participated in the Offering and will acquire, directly or indirectly, an aggregate of 375,000 Units.
The participation by insiders in the Offering is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61- 101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued nor the consideration being paid exceeds 25% of Rugby’s market capitalization.
The Company paid CAD$13,325 as finder’s fees in connection with a portion of the Offering.
All securities issuable pursuant to the Offering are subject to a four month hold period expiring from the date of TSX.V approval.
Proceeds of the Offering will be used to fund Rugby’s exploration expenditures and general expenses
Posted at 19/11/2014 13:38 by envirovision
ok so I see Greenwood is there with 4.5% as well and Ruffer with over 11%.

So all boils down to Anchorfree, it growing looks to me, staff seem ok on glassdoor. Would think they could ipo if they had too, if that's on the cards in next few years selling the stake on to interim investors should be childs play. Management expect to do this fairly quickly they seem confident of the time frame.

Have you any additional Anchorfree thoughts Praipus?
Posted at 25/3/2014 12:00 by praipus
Mr N J Greenwood (value investor) buying more now holding 4.5%


I attempt to track the resy of his holding on the WAM thread
Posted at 24/2/2014 12:28 by centipede
Looks as though this is gradually rising to become closer to a probable tender offer. This has more information:
hxxp://www.renaissanceusgrowth.co.uk/~/media/Files/R/Renn-Universal-Growth-Investment-Trust-AIM/investors/reports/162804-Project-RUG-Circular-CL.pdf

The tender seems likely to be around 300p per share tendered. With about £13 million to be returned, this equates to about 74.5 p per share currently held.

Presumably the best/most liquid stuff gets sold first, so there might be limited upside in what is left, apart from AnchorFree. This will be 41% of future net assets, and based on a recent valuation, it is being held 'towards the lower end of the valuation range given by the valuer'.

Seems to me that AnchorFree is the key element here. Difficult to know just how much it is really worth, and what are the chances of that value being realised. Company still seems to be growing though, and Goldman Sachs have a holding.

Sharpshare (Nov 13, post 21) estimated AnchorFree could then be worth about 200p+ per RUG share.
Posted at 15/11/2013 10:30 by sharpshare
Interesting that Ruffer has 12.4%
Posted at 25/5/2011 09:15 by motw
See what Jim Chanos says re US listed Chinese stocks...

Chanos Misses Out as Chinese Stocks in U.S. Plunge on Accounting Concerns

By Nikolaj Gammeltoft and Whitney Kisling - May 25, 2011 12:51 AM GMT+0100

Jim Chanos, the hedge-fund manager known for predicting Enron Corp.'s 2001 collapse, says he'd short sell Chinese companies listed in the U.S. if it were feasible to borrow shares to open the bearish positions.

The Bloomberg Chinese Reverse Mergers Index has plunged 41 percent since Nov. 8 amid speculation financial statements from companies such as China MediaExpress Holdings Inc. (CCME) can't be trusted. The concern intensified this week after Longtop Financial Technologies Ltd. (LFT), whose initial public offering was underwritten by Goldman Sachs Group Inc. and Deutsche Bank AG, said its auditor quit because of false records.

"Almost all of them have odd looking financial statements," Chanos, the president and founder of New York- based Kynikos Associates LP, said on Bloomberg Television yesterday. "We wish we could borrow almost all of them."
The Securities and Exchange Commission began an investigation last year into the use of reverse takeovers, in which a closely held firm becomes public by purchasing a shell company that already trades. The cost to bet against the stocks is keeping Chanos away.

Renren Inc., a Beijing-based social-networking company that went public in the U.S. earlier this month, is among the most expensive U.S. equities to short. The stock is difficult to borrow with 72 percent of the lendable supply out on loan, according to Data Explorers, a New York-based research firm.

Lendable Supply

Short sellers have borrowed 96 percent of Beijing-based China Shen Zhou Mining & Resources Inc. (SHZ)'s lendable supply, meaning there is almost no equity available for short sellers to bet against. Its shares are also among the most expensive for short-sellers to borrow according to Data Explorers.

China MediaExpress, which began trading in the U.S. following a 2009 reverse takeover, has sunk 92 percent since Jan. 27. It's being delisted from the Nasdaq Stock Market after auditor Deloitte Touche Tohmatsu said that it was "no longer able to rely on the representations of management." China Shen Zhou has declined 59 percent since its Jan. 5 high after its chief financial officer resigned.

Longtop retreated 43 percent between April 4 and May 16, the last time it changed hands before trading was halted.

During yesterday's interview, Chanos said investors concerned that U.S. technology stocks such as LinkedIn Corp. are overvalued should turn their attention to China.

The 53-year-old investor said his "dramatic" bet against Chinese real estate may not be sufficient. While LinkedIn, the first social-media company to go public in the U.S., traded as high as 31 times sales last week, overvaluation is more widespread in China, he said.

A Bubble

"The bubble is really on the other side of the world," he said in New York. "What my team found, they actually came back saying we're not bearish enough," he said. "The signs of overcapacity were even much greater than their last visit, which was late last year, and increasingly the executives that they met with were sounding a little bit more uncomfortable about the current situation."

Chanos said Chinese developers have too much land on their balance sheets, similar to the U.S. before its housing market tumbled. He has been forecasting a Chinese housing crash since last year. China's economy expanded 10.3 percent in 2010 and the country has been aiming to curb climbing house prices.

"If you look at the balance sheets of the developers, you'd be hard-pressed to see how healthy they are because they're all loaded up with land just as our developers were at the top of our market," he said. "We've maintained our pretty much dramatic overweight in our Chinese shorts."

Prices Rise

China's home prices rose in 67 of 70 cities monitored by the government last month. While housing prices slowed in major cities, they increased at a faster pace in smaller ones, according to data on the statistics bureau's website. The Chinese government said this month it will maintain property curbs after it raised the minimum down payment for second-home purchases this year and introduced residential taxes in Shanghai and Chongqing.

China has lifted reserve-ratio requirements for major banks 11 times since January 2010 and raised interest rates four times since October to restrain increases in asset prices, including real estate.

Chanos said in March that a property bubble in China is "as big or bigger than what we saw in the West" when compared with the size of the economy
Posted at 03/2/2010 11:45 by mangal
Big discount to NAV; a buying opportunity?:

"We look forward to the prospects of an even better year in 2010. As usual,
there are a number of anticipated corporate actions that should create value
for shareholders. We also believe our discount to net asset value creates an
opportunity for investors."

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