tlg.v - Tagish Lake is another that has a cross-holding with that Resources Investment Trust, like Mano ... this from their 22 Feb release on stockwatch -
'In consideration for the issuance of the units, RIT will issue 435,000 ordinary
shares of RIT to the company at a deemed price of $2.276 (Canadian) per share.
Resources Investment Trust PLC is a London Stock Exchange-listed investment
company, recently established to invest in small- to mid-cap resource companies.
The company intends to use the anticipated proceeds of approximately $990,000
on the sale of the RIT ordinary shares to finance underground exploration on the
company's Skukum property, and for general working capital purposes. '
Interesting concept, sort of Hong Kong style capitalism, paper for paper and then the junior sells the trust paper in the open market ... i wonder how that went for them ... timing would be everything for something like this, if RIT is a volatile share ... there are punters on London, always have been, europeans like the idea of the bonanza at the end of the world ... oh, speaking of Tagish, stockwatch entitled their latest release 'Tagish Lake establishes crew at end of Rainbow' -g- ...... i don't hold any tlg, just watching it so far
Lots of the bids got pulled back on the juniors today i see ... a little low volume whacking of weak bids and whoosh down she goes .... ngt.v at end of day, ouch ... the ngt.wt warrants begin trading in the morning, i wonder how that will go |
