Share Name Share Symbol Market Type Share ISIN Share Description
Riverfort Global Opportunities Plc LSE:RGO London Ordinary Share GB00BKKD0862 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 1.375 1,392,522 08:00:00
Bid Price Offer Price High Price Low Price Open Price
1.30 1.45 1.375 1.375 1.375
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.62 0.01 137.5 9
Last Trade Time Trade Type Trade Size Trade Price Currency
14:38:29 O 61,217 1.40 GBX

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Date Time Title Posts
16/2/202108:44Riverfort Global Opportunities LSE: AIM133
18/11/201913:44RiverFort Financing at the UK Investor Show13
21/3/201419:28Recovery at 2 Ergo?373

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Riverfort Global Opportu... (RGO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-02-25 14:38:301.4061,217857.04O
2021-02-25 14:19:041.40350,0004,882.50O
2021-02-25 13:39:181.33500,0006,650.00O
2021-02-25 13:22:201.3357,139758.01O
2021-02-25 12:13:031.33250,0003,325.00O
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Riverfort Global Opportu... (RGO) Top Chat Posts

Riverfort Global Opportu... Daily Update: Riverfort Global Opportunities Plc is listed in the General Financial sector of the London Stock Exchange with ticker RGO. The last closing price for Riverfort Global Opportu... was 1.38p.
Riverfort Global Opportunities Plc has a 4 week average price of 1.15p and a 12 week average price of 0.86p.
The 1 year high share price is 1.78p while the 1 year low share price is currently 0.39p.
There are currently 678,933,600 shares in issue and the average daily traded volume is 6,259,973 shares. The market capitalisation of Riverfort Global Opportunities Plc is £9,335,337.
seraha66: RGO is an interesting arbitrage in relation to PIRI RGO currently at or just under last reported NAV PIRI currently at approx 5x NAV You can indirectly aquire exposure to PIRI by buying RGO. RGO also offers more than just exposure to PIRI ! I expect these increases should feed through to RGO. However, PIRI being crypto related could be a bit frothy. What goes up, could also come down. Time will tell. The good bit is that RGO's PIRI shares were all aquired below PIRI's reported NAV. So even if PIRI retraces, RGO's holding should still be of value.
seraha66: From what I have been able to find, the RGO position in Pires is as follows: (assuming I've not made any mistakes) 2/11/16 Investment of £150,000 for 5,000,000 shares @3p and 2,500,000 warrants @ 4.25p (valid till 2 May 2018) 28/11/16 Investment of £100,000 for 3,333,333 shares @3p and 1,666,666 warrants @4.25p (valid up to 18 months from admission of the placing shares) 03/02/19 Investment of £187,600 for 7,816,660 shares @2.4p 24/02/20 Investment of £215,000 for 10,750,000 shares @2p and 10,750,000 warrants @4p (one warrant for each ordinary share subscribed for and valid for two years from date of issue) So average buying price for these shares is less than 3p. Warrants can be excercised from approx 4.25p Current Pires shares price 15.75p So a very health gain as things stand. Some of these warrant will have expired, but other should still be available. They look like representing a healthy return if excercised at the moment. At the very least Pires could represent a nice boost to NAV.
outspan: I'm sure it'll "go", aylsone, Kodal has already received the initial funding advance of US$300,000 under the Term Sheet for the proposed Funding Agreement and has completed the stage 1 consideration payments for the acquisition of the Fininko and Foutière concessions that form the Fatou Project and due diligence has been successfully completed by RGO. According to Kodal, they’re just working out the final terms. The risk I see in terms of the deal is quite limited - that the gold exploration the loan is funding doesn't turn up commercially viable quantities of gold and the JV does not proceed. In which case the loan would nevertheless be repayable by Kodal so I would not see this as high risk myself. The level of risk as I see it is confined to the loan being non-interest bearing until a decision is reached on the next move as early as 31 Oct 21. However, in exchange for this short-term free ride loan, RGO looks set to receive a direct JV stake in all of Kodal's West African gold assets. It's not clear what form this would take but I could easily see the prospect of these assets being floated off as a separate company, perhaps even a listed entity, with RGO and Kodal retaining a chunky stake.
outspan: Yes, very well. As you probably know, Invinity was previously Red T and "Big Daddy" Riverfort, participated in a £3m convertible loan of which "Listed Riverfort" (RGO) took £500k's worth: hTTps:// Things to note before reading the terms - Red T/Invinity's shares were consolidated at the time of RTO by 50 to 1 so e.g. 2.15p then = £1.075p now. Also note the several "Issue of Shares" and "Exercise of Warrants" in IES RNSs dating back to 1 Jul 20. Divide shares issued and warrants exercised by one sixth and you'll be in the zone for how much of it is attributable to RGO Riverfort Investment Agreement An Investment Agreement between (1) the Company, (2) YA II PN, Ltd, and (3) Riverfort Global Opportunities PCC Limited dated 13 March 2020 pursuant to which YA 11 PN, Ltd and Riverfort Global Opportunities PCC Limited agree to lend £3.0 million (the “Principal Amount”) to the Company (the “Riverfort Facility”). The Riverfort Facility incurs interest at a rate of 12 per cent. per annum and is subject to a 2.5 per cent. commitment fee on the Principal Amount and a drawdown fee of 5 per cent. in respect of each advance. The commitment fee can be satisfied by the issue of Ordinary Shares. The Principal Amount is advanced in tranches over the 18 month period following Admission. The Principal Amount and all interest accrued is convertible into Ordinary Shares in the Company at the lower of (i) 90 per cent. of the volume weighted average price in the ten days immediately preceding the date of the relevant conversion notice; and (ii) 130 per cent. of the volume weighted average price for the five days immediately prior to the relevant advance. In addition the Company has agreed to issue, at drawdown, warrants over Ordinary Shares equal to 50 per cent. of the Principal Amount, exercisable over a period of four years at a price of 2.15 pence per Ordinary Share. The Riverfort Facility shall, at drawdown, be secured by the Company granting a fixed and floating charge over its assets.
the yard: Riverfort WarrantsResolution 3 granted the Directors authority to issue and allot New Ordinary Shares to satisfy the Warrants and to enable the satisfaction of the Conversion Rights in respect of the Initial Advance of the Riverfort Facility that was notified on 29 July 2020.Warrants over 18,905,021 shares to the value of approximately GBP375,000 are expected to be granted to Riverfort Global Opportunities PCC Limited (9,452,511 warrants) and YA II PN Ltd (9,452,510 warrants) later today, in line with the Riverfort Facility. The number of warrants to subscribe for Ordinary Shares has been calculated at the Warrant Reference Price which is 1.9836 pence, being the lower of (i) 1.9836 pence and (ii) 3.5 pence, being the closing mid-market price of the Ordinary Shares on the day preceding the date of grant of the Warrants. The Warrant exercise price is 2.57868 pence per share being a 30% premium to the Warrant Reference Price. Following the Share Consolidation taking effect, each of Riverfort Global Opportunities PCC Limited and YA II PN Ltd will hold warrants to subscribe for 945,251 New Ordinary Shares and the Warrant exercise price will increase to 25.7868p per New Ordinary Share.
outspan: The 17 Dec release with details: HTTPS:// Basically, RGO is splitting the funding 50/50 with the “Big Daddy” unlisted version of Riverfort - Riverfort Global Opportunities PCC. I think the intriguing/exciting bit is the structure of the deal, allowing RGO the possibility (probability??) of gaining a direct stake in Kodal’s gold assets, note well that, in the document, this is not said as being limited to Fatou alone so I take it to be all of them – 60% Kodal/40% in total for the funders, 20% direct to RGO. Moreover, the expectation is for a point to be reached as early as 31 Oct 21 for the next step. From the link above: “.…Kodal expects to complete targeted drilling to confirm and expand the defined mineralisation at Fatou within a 9-month period….” “....Funding proposal from the Investors to provide up to US$2,500,000 for an exploration programme, on a no interest, no fee basis for a future stake in Kodal’s Gold Assets….” “….At completion of the spend of the US$2,500,000, or by 31 October 2021, or upon monetisation of some or all Gold Assets, the Investors can either: i. convert the funding to a 40 per cent. holding in a gold joint venture to be formed with Kodal holding 60 per cent. (subject to certain percentage adjustments as detailed below); ii. convert the funding into new Kodal shares at a price to be determined; or iii. seek repayment of the funding over a 15-month period….” Kodal CEO: "The US$2,500,000 funding from the Investors would allow Kodal to explore rapidly our gold projects with a clear aim of defining mineral resources and demonstrating expansion and mining potential. Once concluded, this funding is extremely positive for our shareholders as it enables us to fund the acquisition of a new advanced gold project and also to explore and aggressively drill our gold projects whilst incurring low or no dilution to existing shareholders. The creation of a Joint Venture following the spend of the funding will allow Kodal to explore opportunities to achieve value for the gold assets in the future. "Kodal's existing gold assets are located within the highly prospective Birimian sequence of West Africa. At our Dabakala project in Cote d'Ivoire we are currently completing infill geochemical sampling on a large-scale geochemical anomaly, 10km strike by 800m width, in a previously untested region. In Mali, our Nangalasso project contains gold mineralised drill intersections requiring follow-up and extension drilling which will be included in the expanded gold exploration programme.” So, all the signs are of yet another “heads you win, tails you don’t lose” deal in prospect for the “unlisted-parent and listed-child” set up. Assuming favourable results, RGO gets 20% of a JV “containing Kodal’s Gold Assets….” (to my mind, most likely) OR convert to Kodal shares at a heavily discounted price (or why would they?) OR, all the while, the full money back option virtually rids the deal of risk.
outspan: HTTPS:// Piri warrants not even mentioned here last August - since at under 4p at the time, they were out-of-the-money. Add Piri to those already in-the-money at the time but not included in RGO NAV and it's clear the potential hidden value here is substantial without even taking account of the increase to declarable NAV since the last update. "...The warrant portfolio includes warrants that have been issued by the following companies whose share prices have increased by the percentages shown since the beginning of the year: Whitehawk Limited (49%), Artemis Resources Limited (231%), Tanzania Gold Corporation (50%) and Canadian Overseas Petroleum Limited (442%). Currently, 39% of the warrant positions held are in the money, however, due to the inherent volatility associated with this form of instrument, the potential value of this warrant portfolio is not fully reflected in the Company's net asset value and a return is only crystallised when the respective warrants are exercised and resulting shares sold. Phillip Haydn-Slater, Non-executive Chairman commented: "Given the current volatility of markets, we believe that our warrant portfolio offers significant scope to enhance the returns from our investment portfolio." He can say that again!
outspan: No opinion on Pires except to rejoice in RGO's holding. Seems to me, one easy way for RGO to increase capital while sensibly reducing its exposure to Piri would be to convert the 10m warrants it also holds and sell into the current demand without, for the moment, reducing the attributable value of the 26m ordinaries RGO holds. This from the Piri placing in Apr 20 that brought in Chris Akers "Placees will also conditionally receive one warrant for each ordinary share subscribed for, exercisable at 4p for a period of two years from their date of issue and expiring on the two-year anniversary of the date of issue. " so a time-limited benefit in any case. This from RGO's last Finals " the end of June 2020, the Company's holding in Pires will amount to 26,149,993 shares and 10,000,000 warrants..." However, I note RGO got 10.75 million shares in that placing so assume they are understating their warrants by 750k. DYOR.
tim000: PIRI equity and warrants currently worth 0.22p per RGO share, each 1p increase in the PIRI share price increases RGO's NAV by 0.055p, or about 7% of the current share price And yet there has been no impact (yet) on the RGO share price
tim000: It appears that RGO has exercised its right to 95.5 mn EQT warrants @0.375p and sold them all immediately at ca.0.8p, making a profit of ca.£400k. That's equal to 0.06p per RGO share, ie 7.5% of the RGO share price. It looks as if IES warrants might turn out to be equally profitable. RGO is under the radar, but a highly undervalued asset.
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