1. Most Discussed
  2. Gainers & Losers
RTM 0.0¢


  1. djwillis

    651 Posts.
    Is this positive or not?

    Strategic Partnership

    Announced by: REEFTON MINING NL (RTM)
    Announced on: 28/01/2003 09:57:20
    Part: A
    Words: 170
    Status: Market sensitive (Y)



    HOMEX - Perth

    The Directors are pleased to advise that Reefton Mining NL (the
    "Company") has entered into a strategic partnership with Charter
    Summit Investments Limited ("the Charter"), a diversified
    international investment and operating group with substantial
    interests in Namibia.

    The Agreement provides for:

    * The placement of 14.4 million fully paid ordinary shares for a
    consideration of AUD$1,036,800. These securities will be subject to a
    voluntary escrow period of twelve months; and

    * The sale of a 40% interest in the Company's Namibian subsidiaries,
    Storm Diamond Mining Company (Pty) Ltd and Black Range Mining (Pty)
    Ltd, for a total consideration of AUD$6,000,000. The subsidiary
    companies respectively hold the Skeleton Coast Diamond Project, and
    the Erongo Polymetallic Project.

    This partnership is seen as a significant development for the Company
    as Charter, who are ideally placed to create and cement future
    Namibian opportunities and participation, will assist in the
    development of the Company's existing activities and the creation of
    new resource opportunities.

    B S Moore

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.