Radius Gold Inc. (RDU-V) pending a change of business. The company spent the past 10 years exploring for gold in Latin America and would now like to become an investment company. Radius has $10-million in working capital, 86 million shares outstanding and has been operating as a de facto investment company since 2012, when it acquired 4.8 million shares of B2Gold Corp. (BTO-T) at a deemed price of $3.46 a share, or $16.6-million. B2Gold issued the stock as payment for two Nicaraguan gold properties, and Radius sold two million of the shares for $5.7-million. It still owns 2.8 million, which are worth $6.4-million today. Radius also holds an $800,000 debenture from Southern Silver Exploration Corp. (SSV-V), convertible into 16 million shares, as well as three arm's-length investments: one million shares of Focus Ventures Ltd. (FCV-V), eight million shares of Medgold Resources Corp. (MED-V) and 9.8 million shares of Rackla Metals Inc. (RAK-V). All three of these little horses are part of the Ridgway stable. Mr. Ridgway is also a director of Cordoba Minerals Corp. (CDB-V), which has $5-million in working capital, thanks to the money-raising efforts of its chairman, Ari Sussman. Cordoba plans to drill in Colombia this year.
Message 29886061 |
