RRS.V - Nice spread.


Rogue Resources (RRS.V) coverage has been initiated on June 9, with subsequent notes on August 17, and October 29th. Here are the latest:

Nov. 9 - Closed first tranche of financing (from October 24), increases offering to $0.8M. A total of $0.46 was raised; $0.36M (78%) from flow-through shares at $0.22 cents vs. $0.10M at $0.18 cents with warrant at $0.25 cents.

Nov. 30 -Closed oversubscribed private placement (Raised $0.83M) and increase in insider ownership. $0.3M was raised after the first tranche.

In addition, staff, board and family members participated in flow-through share offering in the private placement.

Dec. 14 - Close the acquisition of the Snow White Project, a permitted Silica/Quartz Quarry in Northern Ontario. Property has existing Silica/Quartz Pit-Quarry. Aggregate Permit Preliminary NI 43-101 technical report expected to be completed in Q1 2018.

Also announced obtaining an exploration permit for Radio Hill (3 years).

Dec. 28 - Fundamental Research maintains target at $2.18 per shares.

Jan. 8 - Files 43-101 Technical Report on Snow White Silica Project in Northern Ontario.

Jan. 12 - Sample of Snow White Quartz sent for Optical Sorting Analysis and granted of options to insiders. A 300 kg sample of Quartz was sent for Optical Sorting Analysis to vendors in US, Germany and Canada. Also 0.550M options at $0.39 cents were granted.

Jan. 29 - Fundamental Research Analysts raise price target to $2.32 .

Mar. 5 - Positive Optical Sorting results reported for Snow White Project (Ontario). Also updated by MFFP about the Silicon Ridge Project (Québec) - completion of the study will be delayed until in Autumn 2018.

Mar. 8 - Selects quarry contractor and forms strategic partnership with SCR Mining and Tunneling. Ed Seguin & Sons Trucking and Paving Ltd. (“Seguin”) selected as Contract Quarry Operator for Snow White.Strategic Partnership formed with SCR Mining and Tunneling L.P. (“SCR”). Advancement Decision on Snow White to be delivered in Q2 2018,

As collaboration on projects Seguin and SCR will invest $0.225M into Rogue, to fund project identification and future advancement. RRS.V to issue and sell 0.75M Units, to be split evenly between Seguin and SCR at a price of $0.30 per Unit for aggregate gross proceeds of $0.225M (the “Offering”). Each Unit (“Warrant”) entitling the holder thereof to purchase one common share at an exercise price of $0.45 until May 31, 2018.

Apr. 6 - Closed private placement announced on May 8. $0.250M from the issuance and sale of 833,334 flow-through units (“FT Units”) at a price of $0.30 per FT Units. entitling the holder thereof to purchase one common share at an exercise price of $0.45 until May 31, 2018. The subscriber to the Offering was SCR Mining and Tunneling L.P. (“SCR”), together with certain of its affiliates.

Apr. 24 - Stock options granted: Samson (83K), Davis (75K), Yap (8K).

Apr. 30 - Corporate Update: Snow White Bridge completed and Drilling initiated— anticipated decision and resource in Q2. Infrastructure upgrades completed at Snow White have been completed Orbit-Garant initiating a diamond drill program to define the Snow White quartz zone The diamond drill program results will be incorporated into a technical report expected in Q2 2018 (NI 43-101) Logistics negotiations are ongoing with road, rail, port and sea transport operators Advancement decision remains subject to continued discussions with potential quartz buyers

Within the last six months, RRS.V has made some major advances on the Snow White property. It has closed a round of financing and completed its acquisition. It has file for 43-101, submitted and received positive Optical Sorting results.

Despite, further delays with Silicon Ridge (Fall 2018), RRS.V has been able to get vendors to invest in Snow White and future project. Much like securing exclusivity with PCC and Thorsil in 2017. We see this as a key achievement in this period. While we wait for the go or no go decision on Snow White, the investment terms of SCR - shares ($0.30) and warrants of ($0.45) might suggest a high likelihood for a particular outcome.

However, a go decision involves more than positive optical sorting results and willing partners. It also requires readiness from an end buyer. Of note, warrant terms can be modified and expiration date extended accordingly. In fact, current RRS.V's Level II are less indicative of a particular outcome.

The absence of a go-decision, will likely to put RRS.V back on the prowl for other high grade silicon properties and off-takes partners. This would be disappointing in the near term, but would further strengthen RRS.V's position in terms of a Silica specialist.

One thing is certain, RRS.V has now two high grade Silica properties (Snow White and Silicon Ridge) that are fairly developed. This is a nice spread.

DISCLAIMER: The work included in this article is based on current events, technical charts, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The content of rally is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions - rally cannot take responsibility for your investment decisions.


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