Board Change • Sep 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). President & Director Kiernan Lynch was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jan 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. President & Director Kiernan Lynch was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Nov 26
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$92k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.7m free cash flow). Shares are highly illiquid. Negative equity (-CA$92k). Earnings have declined by 81% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$346.4k market cap, or US$246.3k). Board Change • Nov 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. President & Director Kiernan Lynch was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Jul 30
An unknown buyer agreed to acquire Resolute Resources Limited from Resolute Resources Ltd. (TSXV:RRL) for CAD 0.07 million. An unknown buyer agreed to acquire Resolute Resources Limited from Resolute Resources Ltd. (TSXV:RRL) for CAD 0.07 million on July 25, 2024. The transaction is subject to customary closing conditions including regulatory approval, approval of TSX Venture Exchange, and approval of the Company's shareholders. Additionally, the Vendor shall have received all consents and approvals required to consummate the Transaction, including without limitation: (i) approval of the TSX Venture Exchange, (ii) approval of the shareholders of the Vendor in accordance with applicable law (“Shareholder Approval”), (iii) approval of the board of directors of the Vendor, and (iv) if applicable, any approvals required from the from the Alberta Energy Regulator or BC Energy Regulator with respect to the Properties and the exploration rights in British Columbia (collectively, the “Specified Approvals”); all necessary steps and proceedings will have been taken to permit the Subject Shares to be duly transferred to and registered in the name of the Purchaser; shareholders of the Vendor holding not more than 10% of the issued and outstanding common shares in the share capital of the Vendor shall have validly exercised and not withdrawn their dissent rights with respect to the Shareholder Approval; The Sale is expected to be completed in and around the end of Fiscal Q1 of 2024. 공시 • Jul 02
Resolute Resources Ltd., Annual General Meeting, Aug 23, 2024 Resolute Resources Ltd., Annual General Meeting, Aug 23, 2024. 공시 • Jan 16
Resolute Resources Ltd. Announces Board Resignations Resolute Resources Ltd. announced that it has accepted the resignations of independent directors Curt Labelle and Chris Wolfenberg from the Board of Directors of the Company. The board is actively engaged in identifying and evaluating alternatives with respect to the appointment of new independent directors to fill the vacancies left by Mr. Labelle and Mr. Wolfenberg's departure, and will provide an update in the coming weeks. 공시 • Nov 21
Resolute Resources Ltd. Announces the Rig, Precision Drilling Rig 141 Resolute Resources Ltd. announced that the rig, Precision Drilling Rig #141, is being mobilized to the 14-19-83-23W5 drill pad this week. The RESOLUTERESLTD HZ ANTHONY 11-24-83-24 is planned to Spud on November 23rd, 2023. The well is expected to take ten days to reach total depth (TD). Following reaching TD, a production test is to be performed. Production results should be available approximately 6 weeks following the completion of drilling. New Risk • Nov 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$9.57m (US$6.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.8m free cash flow). Share price has been highly volatile over the past 3 months (45% average weekly change). Shareholders have been substantially diluted in the past year (447% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$9.57m market cap, or US$6.99m). 공시 • Oct 18
Resolute Resources Ltd., Annual General Meeting, Dec 13, 2023 Resolute Resources Ltd., Annual General Meeting, Dec 13, 2023. 공시 • Sep 26
Resolute Resources Ltd. Announces Rig Release and Operations Update Resolute Resources Ltd. announced that the rig, Stampede #14, was rig released from 5-25-83-24W5 drill pad upon completion of the drilling of the RESOLUTERESLTD HZ ANTHONY 7-24-83-24 well. The RESOLUTERESLTD HZ ANTHONY 7-24-83-24 took 17 days to drill and the final AFE will be within 15% of the previously estimated well costs. Reservoir production testing will commence with results available in approximately 6 weeks. In addition, Resolute announced that it has received a well license for the RESOLUTERESLTD HZ ANTHONY 11-24-83-24 and pad construction has commenced. The RESOLUTERESLTD HZ ANTHONY 11-24-83-24 is designed to target the Gething Channel reservoir. The expected spud date is the first week of November 2023. Board Change • Sep 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.