Business
Half Year Report for the six month period end...
Half Year Report for the six month period end....
About this update from Richmond Hill Resources Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n13 May 2025Richmond Hill Resources Plc (formerly Rogue Baron Plc).(\"Richmond Hill\" or the “Company\")Half Year Reportfor the six month period ended 31 March 2025Following extensive review and deliberation by the Board regarding Shareholder value and the long-term success of the Company, it was determined that the Company's continued investment in the drinks industry would not deliver sufficient value. As such the directors enacted a change of strategy to natural resources with a view to selling all the drink related assets and entering in to a reverse takeover and relisting as a minerals exploration company. As part of the process Rogue Baron changed its name to Richmond Hill Resources Plc.Proposed Reverse TakeoverOn 10 April 2025, the Company announced that it had signed a binding term sheet with Three Mile Beach Ltd (“Three Mile”) with respect to the acquisition by the Company of the legal and beneficial interest of certain mineral exploration licences in Quebec (“Proposed Transaction”).Proposed TransactionOn or before the completion date of the Proposed Transaction, Bulawayo CC Ventures Ltd. (“Bulawayo”) will be the 100% legal and beneficial owner of the mineral exploration licences. Bulawayo is 100% owned by Three Mile. Richmond Hill proposes to acquire the entire issued share capital of Bulawayo from Three Mile.The acquisition will constitute a reverse takeover in accordance with the Aquis Growth Market Access Rulebook. It will be a condition precedent to completion of the acquisition that Richmond Hill’s entire issued share capital will be admitted to trading on AIM.The consideration payable by Richmond Hill for Bulawayo will be £3,300,000 in aggregate, that will be satisfied in new ordinary shares in Richmond Hill (Consideration Shares) and cash. The number of Consideration Shares, the price per Consideration Share and the cash amount will be agreed in the Share Purchase Agreement.Project DetailsThe Saint Sophie Copper Project spans 87 square kilometres and is located in the Beauce region of Quebec, 60 Km South of The Becancour Battery Park and 150 Km North-East of Montreal. The project is comprised of multiple worked indices and historic mines of high-grade native copper, hosted in sedimentary rock and epithermal vein systems, with 146 claims spanning 87 squar...