RGL is a Jnr explorer with a gold project near Kalgoorlie as well as another project in Alaska.
The company was trading at a lowly ~$3m mkt cap ~1c before COVID hit. A little was raised to keep it going.
There was then an increase in volume and price to 3c before it was revealed well known resource entrepreuner Tolga Kumova had become a substantial holder.
A raising was done for $1m at 1c and Kumova increased his interest.
They have also reached an agreement to dispose of their Alaskan project.
High risk but based on the register - M&A not out the question as well the current kalgoorlie project having good potential. Time will tell.
Curious that RGL got an aware letter and said it had been contemplating a transaction that didnt fit with its capital structure. Was it the Alaskan divestment that was subsequently announced? Or something else that may come in a different form?
M&A opportunity perhaps. One to watch