RAG - Ragnar Metals

[Tyler Durden]

Trading halt - capital raising.

 

[Frazer123]

Trading Halt - Significant Acquisition

 

[System]

On November 26th, 2018, Drake Resources Limited (DRK) changed its name and ASX code to Ragnar Metals Limited (RAG).

 

[frugal.rock]

Probably an interesting day for Ragnar tomorrow.
On a trading halt pending announcement re a "transaction".
All will be revealed... tomorrow morning. Sounds mysterious, but that's all I know, apart from I picked it as a likely TA trade.
Not held.

 

[greggles]

Ragnar Metals has been re-instated to official quotation after an almost ten month suspension. It has undergone a five to one share consolidation, reducing the shares on issue from 313,424,062 to 62,684,889. $5.5 million was raised in April, which is a decent amount of cash.

The company has acquired the Leeds Project and the Kenya Project, both located in the Eastern Goldfields region of Western Australia, and intends to commence exploration activities at these projects.

 

[Stockbailx]

Interesting Prospect; Been making consequential gains since the end of may, with 4 ongoing projects, to keep it busy. Made a strong announcement today; MASSIVE SULPHIDE MINERALISATION INTERSECTED AT TULLSTA ; https://www.ragnarmetals.com.au/investor-centre

Good to to see you got in early, what gives 'how ya do', think they have the product projection, to advance'.

 

[Stockbailx]

 

[greggles]

Ragnar Metals really moving this morning, up 14.75% to 7c, with an intraday high of 7.5c.

Nice positive announcement on Tuesday morning with the company reporting that significant magmatic sulphide mineralisation has been intersected by the second drill hole of the maiden drilling program at its 100%-owned Tullsta Nickel Project in Sweden.

Buyers are chasing this one at the moment with sellers in control, even three days after the announcement. Demand is very strong. RAG feels and looks very bullish at the moment.

 

[The Triangle]

Definitely promising drill results here with 7m 2%+ nickel and 1.5% copper in the core, but looks like its all about 500m deep. Was surprised that the SP dropped to 5.5 cps. Obviously the market was expecting better results. With phase 1 drilling looking to be finished - when will phase 2 drilling start - I could not figure that one out. I suppose very shortly we'll be seeing the RC results from the gold drilling?

Love these little juniors that seem to have all their announcements written up well before hand.... I found the explanation of XRF unnecessary. Do Rolls Royce explain how airplanes fly in their press releases? No. If people want to know about XRF - then I'm sure they can google it themselves. Also did this really need a trading halt? I have some interest here in RAG, but the way the releases are written turns me off a little. Wish these boards would not try so hard but I'll still keep an eye on this one.

 

[Stockbailx]

Maybe a good time to get back into Ragnar. I confirmed, into this one back when, and it hasn't let me down. I thought this was a promising stock, spotted at the moment just over 0.055c.Phase 1 didn't achieve the share price it was looking for. When will all the action start, just have to see the progression of phase 2 drilling. Sure there is more in the kitty..Needs volume to conger...

 

[Stockbailx]

Ragnar Announced today;
4M AT 6.6 G/T AU CONFIRMS POTENTIAL FOR SEVERAL
NEW GOLD BEARING STRUCTURES AT LEEDS

 

[greggles]

Drilling should be commencing shortly at RAG's Tullsta Nickel Project in Sweden. The company recently raised $1.225 million through the issue of 35 million shares at 3.5c per share.

Here are the "Next Steps" as outlined in the capital raising announcement from last Wednesday 10 November.

RAG also announced last Wednesday that it has executed a Binding Heads of Agreement to acquire 100% of WestOz Lithium Pty Ltd which is the applicant for five highly prospective lithium tenements in the Pilbara region and one tenement in the Gascoyne region of Western Australia.

The RAG share price has been steadily increasing since late September, having risen from 3.5c to 5c in that time. Even at 5c, the market cap is still only ~$16 million. I suspect the lithium projects may be more exciting to the market than the nickel project in Sweden, although that may change after assay results are returned from the upcoming drilling program.

 

[bk1]

I suspect the lithium projects may be more exciting to the market

Very possible @greggles , two days now of high relative volume.
Due diligence on the Lithium tenements extended until end of the month.
Ariel Eddie King is a name that crops up consistently if you happen to like junior explorers...
Watching atm.

 

[waterbottle]

Any information on why these tenements are being sold?

 

[waterbottle]

I've been looking into this company over the past week.
If they do acquire the lithium tenements then they should be revalued as lithium explorers - with an MC of 17 Mil. they would be undervalued IMO.
The other aspect of the business is nickel production.

Both metals would allow this company to take advantage of the green energy boom.

Having said that, this is all continent on what those tenements can offer. They are located to other high value lithium sites although not sure if that would have any bearing on what's being offered.

My 2c is that it'd be foolish for the company to not purchase them, given the markets reaction to lithium projects to date and the small cost associated.

 

[Stockbailx]

My 2c is that it'd be foolish for the company to not purchase them, given the markets reaction to lithium projects to date and the small cost associated.

Ragnar digging their way out of a slump, with promising results intersected, 145m of extensive magmatic Ni-Cu mineralisation
comprising massive, semi-massive, matrix and coarse blebby sulphides.
A further four diamond wedge holes will be planned, aiming to cut out exisiting deep drill platform holes. The company plans to commence regional analysis of the Granmuren magmatic intrusion within the tenement package targeting favourable sites for potential nickel and copper mineralisation.
Lithium projects to play a part in future price extensions?

 

[Stockbailx]

RAG back into the good books. I've been bragging on about it but not much to show for it. Appears to be a busy stock. Maybe today's announcement may boost there confidence...