Australian (ASX) Stock Market Forum

PRL - Province Resources

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On February 19th, 2016, Sirocco Energy Limited (SCY) changed its name and ASX code to Assemblebay Limited (ASY).
 
Re: ASY - Assemblebay Limited *cashed up & shopping for acquisition

from 14/12/15 ASY prospectus (has $3.3M cash and 205M shares on issue): "The company will also seek out and evaluate potential acquisitions that complement AssembleBay and explore further strategic business opportunities with a focus on the technology industry, including application software, communication software, software as a service (SaaS) and social networking services, with the intention of creating additional value for shareholders"

Please dyor as always

Cheers tela
 
Re: ASY - Assemblebay Limited *cashed up & shopping for acquisition

Telamelo said:
from 14/12/15 ASY prospectus (has $3.3M cash and 205M shares on issue): "The company will also seek out and evaluate potential acquisitions that complement AssembleBay and explore further strategic business opportunities with a focus on the technology industry, including application software, communication software, software as a service (SaaS) and social networking services, with the intention of creating additional value for shareholders"

Please dyor as always

Cheers tela
Click to expand...

ASY analysis (shows how undervalued this really is compared to the likes of CR8, OOK etc. imo)
- 237,982,218 shares
- 52,000,000 options
- 320,092,289 total

Market Cap @ 2.3c: $7,362,123

Cash: $3,305,000 (29/04)
Options Cash: $1,040,000

Enterprise Value: $3,017,123

DYOR

Cheers tela
 
ASY +8.7% (undervalued $3.3M cashed up shell @ 0.025c) ..... hinted 'shopping around for a value enhancing acquisition' soon .......... please dyor

22 buyers for 5,708,744 units vs only 3 sellers for 604,699 units

Cheers tela
 
On November 1st, 2018, AssembleBay Limited (ASY) changed its name and ASX code to ScandiVanadium Ltd (SVD).
 
On November 11th, 2020, ScandiVanadium Limited (SVD) changed its name and ASX code to Province Resources Limited (PRL).
 
Province Resources shareholders are no doubt feeling a little chirpier this morning after the company announced that it has entered into a conditional agreement to acquire all of the shares in Ozexco Pty Ltd which holds seven exploration licence applications in the Gascoyne Region of Western Australia that are considered to be prospective for salt, potash and mineral sands, together with potentially being suitable for developing a renewable green hydrogen project.

This company has been going nowhere for a long time, and has changed its name no less than four times in the last ten years, but finally it look like they may actually be going places if this deal pans out for them.

Here's the details:

PRL_170221.png


The capital raising requires the issue of a lot of shares of differing types:

  • $750,000, to be satisfied through the issue of 50,000,000 fully paid ordinary shares at a deemed issue price of $0.015 each to the shareholders of Ozexco

  • an aggregate of 50,000,000 Performance Shares in three (3) tranches to the Vendors, the conversion of which into ordinary shares is subject to and conditional upon the following events occurring (in broad terms), within the time limits set out below:

    • Class A Performance Shares – 16,666,66

      Upon the Company announcing to ASX completion of a positive scoping study in relation to the Projects, to the reasonable satisfaction of the Independent Directors of the Company, as evidenced by a decision to proceed a prefeasibility study on the project, within 18 months of the date of issue of the Class A Performance Shares.

    • Class B Performance Shares – 16,666,66

      Upon the Company announcing to ASX completion of a positive preliminary feasibility study in relation to the Projects (PFS) which demonstrates a net present value for the Projects of at least $500 million or with an internal rate of return of at least 25% (in each case using a 10% discount rate), within 30 months of the date of issue of the Class B Performance Shares.

    • Class C Performance Shares – 16,666,667

      Upon the Company announcing that it has:

      1. secured an offtake partner for a minimum of 30% of production proposed under the PFS; or
      2. outright sale of the Projects for a value of at least $100 million,

      within 42 months of the date of issue of the Class B Performance Shares; and

  • The Company will also reimburse the Vendors for approximately $80,000 of expenditure incurred on the Projects to date.

Confused? So am I.

Anyway, the market seems to likes the deal. PRL is up a whopping 284.6% to 10c so far today. A great result for shareholders after years in the doldrums.

With such a chequered history, can this company finally come good?
 
Just be wary about small caps atm, reddit /asx bets pumped and dumped PRL, the other day and
CRO and FFG to name a few,
 

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Dark1975 said:
Just be wary about small caps atm, reddit /asx bets pumped and dumped PRL, the other day and
CRO and FFG to name a few,
Click to expand...

Was that actually nearly $40 million in turn over today on this little battler (I had to look 4 times!!) :nailbiting:

Its a Market gone mad!!:speechless:
 
Dark1975 said:
"This sort of crap has been around for yonks?
Lol , I don't think at this high level . The reddit site has doubled this month alone to 55k members,
Click to expand...
True.. just another ringing of the 'top of market frenzy' bell. Reddit = bellhop?
 

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