Red River Resources

Red River Resources Limited.7-Oct-05. 1,100,000 shares are to be released from escrow on 21 October 2005.

On 7 March 2006, 67,500 shares were released from escrow, along with 1,100,000 share options. On 31 March 2006, a further 300,000 share options will be released from escrow.

West Perth-based Red River Resources will aim to raise up to $6.9 million before costs through a non-renounceable rights and options issue, to fund further exploration of its mid west iron ore and Tasmanian projects.

Perth company director David Alan Zohar has pleaded guilty to three counts of providing false and misleading information to the Australian Securities Exchange.

Former Perth company director David Alan Zohar has been sentenced to 14 months in prison for providing false and misleading information to the Australian Securities Exchange.

Exploration firm Red River Resources has seen its share price jump by over 80 per cent after it entered into a $6.5 million agreement with the administrators of collapsed explorer Kagara, for the sale of its projects in northern Queensland.

Melbourne-based nickel explorer PLD Corporation has signed an option agreement to buy collapsed miner Kagara’s Admiral Bay zinc project in the Canning Basin for a cash and shares package worth up to $7 million.

Perth-based Liontown Resources says it will accept just $465,500 to satisfy an outstanding settlement around the sale of its Liontown base metal deposit in Queensland to collapsed miner Kagara, which was later offloaded to Red River Resources.

There is no prize for guessing that iron ore companies have plunged to the bottom of the resources component of this year’s TSR survey; but what is interesting is the rise of uranium hopefuls, despite few signs of an imminent increase in the uranium price.

Local junior miners Prospect Resources, Azumah Resources and Sipa Resources, and Melbourne-based Red River Resources, have today announced a collective $29.8 million worth of capital raisings. 

The state’s businesses leaders are optimistic about improved conditions in the year ahead, according to feedback from the annual Business News chief executive survey, with tax reform identified as a priority issue whichever party is in government after the March poll.

There were 39 insolvency appointments to Western-Australian-incorporated companies over the past two weeks.

There were 32 insolvency appointments to Western-Australian-incorporated companies in the past fortnight.