SRT 0.00% 0.0¢ star striker limited

rsl hit 5c previously

  1. 5,391 Posts.
    Looking back to 9th May 2007...RSL hit 5c

    RSL,s highest closing price was 4.3c on 8th May 2007...i think it was based on the following announcement:

    Retail Star Limited (Retail Star) agrees to acquire 100% of uranium exploration company –
    Orion Exploration Pty Ltd (Orion)
    • Retail Star has reached agreement to acquire 100% of the issued capital of Orion,
    a uranium exploration company, subject to certain conditions being satisfied and
    shareholder approval.
    • Orion is targeting uranium mineralisation at five projects in the Northern Territory,
    two of which are located in the highly prospective Rum Jungle Uranium field and
    one in Western Australia.
    • Orion has identified a number of targets at Edith River and Woolgni and, subject to
    the completion of this transaction, will compile and interpret all available
    information with a view to commencing RAB drilling on the warranted targets.
    • Orion’s parent company, Red Rock Resources Plc (Red Rock), is applying for
    exploration licences in Africa and these tenements will also form part of the
    package if granted.
    • The consideration payable for the acquisition of Orion and the Australian related
    assets is $1.5 million in cash. In order to fund the acquisition, Red Rock has
    agreed to subscribe for 80,000,000 shares, 20,000,000 options and 20,000,000
    performance shares in Retail Star for a total subscription sum of $1.5 million.
    • Red Rock will receive a further 60,000,000 performance shares in consideration of
    Retail Star being transferred the exploration licences located in southern Africa
    upon grant.
    • As part of the transaction, Retail Star intends to raise a further $562,500 by the issue
    of 37,500,000 shares at 1.5 cents each, part of which will be used to fund the
    further development of the tenements.
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