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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| North River | NRRP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2.75 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.75 | 2.75 |
| Top Posts |
|---|
Posted at 08/1/2021 16:55 by oliversydney Just received the administrators report and as anticipated the American investors have the asset for a knockdown priceWith all creditors and shareholders receiving nothing A very wide businessman i knew told me never get involved in a business with American investors as you will be left to dry Should never have come to this |
Posted at 23/6/2020 19:21 by oliversydney Have just seen the news On asset match and North river resources about the administrators report summing up the situationAs Castlelake the American investor was unwilling to continue the funding other than agreeing to their taking over a larger part of the equity a stalemate ensued Our only hope is that the administrators who are also engaged in a process of trying to find a buyer for the mine but whether minority shareholders will benefit I am not confident |
Posted at 16/6/2020 11:23 by oliversydney Have so much invested in this but my suspicion is that the American investors will buy back the assets for next to nothing from the administratorsHave always lost everything when American backers are involved Would be interested in Greenstone involvement |
Posted at 18/2/2020 18:15 by ih_679027 I also can not access the web site for the last weekWith regard to the charge the lender who I presume is the American investor requires security against additional funds being available to the company who presumably have cash flow problems at present Hopefully this can be resolved in the future |
Posted at 17/2/2020 12:31 by ih_679027 Not the announcement i was waiting for but half expected bad news as no updates on website since September and zinc price very lowThe charge looks like with the American investor as registered in Luxembourg. Always concerned when American institutions exert influence from past experience but obviously short of funds and better than issuing shares and diluting |
Posted at 06/11/2019 09:52 by ih_679027 I was at the meeting and this was an accurate summary of an informative meetingI was impressed with the knowledge of Ken Sangster and the honesty of James who did mention there had been outside interest in the company during the year I am sure once we are up to full production and Trading profitably the two main investors would listen to any offers as they would like a return on their investments I was also encouraged that the main investors did not want to issue any further shares to avoid any dilution and other arrangements had been made to cover any cash shortfall caused by the production set backs We have a workforce of approx 200 so this is not some tin pot Company which gives me confidence after so many years of being a shareholder |
Posted at 26/10/2019 10:25 by crunch123 Thanks for the update Rosie - really appreciated.I’d thought the 2 core investors would be after a quick exit once mining started. |
Posted at 26/10/2019 08:49 by rosievdb AGM James Beams and Ken Sangster.Few brief points: Downside first Present production only at 50% basically due to challenges at mine ie, .having to mine at deeper depths and it takes time to get to that point but full production is presently expected 9 months from now. Zinc price down 40% from recent highs but hopeful just part of the circle and will rise again. Dag Kullmann who was in charge at the construction phase of mine was good at getting the mine going but not so successful at training the local employees who needed full training and supervision. Amongst other things brand new equipment purchased only 18 months ago already having to be replaced due to complete lack of maintenance and knowledge how to use. Likewise with pump equipment etc etc. However new person in charge Martin Tjlpita and apparently this situation wont arise again! New equipment on order. Reasons for lack of website information... no real reason but we should be notified through Asset Match of a new and updated website. Upsides: sales of zinc made. These sales are paid for 90% before leaving site, remaining 10% paid when re analysed (normally Rotterdam) silver also being sold and at good price. The general consensus is that companies such as Greencore & Castlelake do not have long term plans to remain in these investments. ( venture companies like these generally do not view the investments to be more than 10 years) but do very much intend to get at least their investment back and hopefully more. Re listing is unlikely at this point. Nothing in the pipeline but there is always the possibility of a an offer/buyout. Also it was pointed out that Castlelake who were the last investors paid 10 times what is being listed on the Asset Match auctions. There are no plans to stop the Asset Match facility but it is recognised that it hasn’t really had the positive effect envisaged. James Beams who is also a private investor like all of us basically said just hold on. Another interesting point which came up... the licence just suddenly appeared without any further information having to be supplied. Someone from North River met a local government representative (MP?) for Erongo Region at some do and said how horrified NR were that the Namibian government had allowed this project to fail by not granting the licence and that the company had now been de listed and a lot of money lost and no jobs provided etc etc. The MP was also horrified, went straight to the relevant Minister, was told that basically it was an over sight and that it would be done immediately......... |
Posted at 21/8/2019 20:06 by crunch123 Oliversydney, in the prolonged absence of any updates from NRRP/Namib & regulatory filings, are you able to give us any further insight on what’s happening?I’d imagined - maybe wrongly - that once production was up & running (is it?) that the majority investors would be seeking an ‘exit’ |
Posted at 17/6/2019 21:33 by crunch123 Public accounts have to be done in 6 months, private in 9 months.Last year the agm was in June. Investor page for of NR states ‘regular news updates will be provided in a timely manner when material updates are available.’ |
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