Q Resources has been established to identify, acquire and make investments in Resource assets with an initial focus on Africa and/or South America.
On Admission, Q Resources will have no trading business, giving the Directors a platform to carry out a detailed examination of potential acquisition targets. The Company, in determining potential acquisitions, will consider all sectors of the Resources industry, but will primarily focus on metals and minerals assets. The Directors intend to complete the first acquisition within 12 months of Admission, which they intend will constitute a Reverse Takeover (and therefore will require Shareholder approval) in order to provide the Company with an operating business. Following the initial acquisition, the Directors will review the strategic development of the Company.
The Directors believe that market conditions over recent years have proven difficult for certain businesses operating in the Resources sector and that an opportunity now exists for acquiring and/or investing in such businesses and/or assets so that their growth potential can be realised for the benefit of Shareholders.
The Company’s objective is to generate an attractive rate of return for Shareholders, predominantly through capital appreciation, by taking advantage of opportunities to invest in the Resources market. In the first instance the Company is seeking to make a sizeable acquisition within a year of Admission, which would be deemed a Reverse Takeover and therefore require Shareholder approval. It does not intend to make any other smaller acquisitions or investments before then. Thereafter, as the holding company of an operating business and/or assets in the Resources industry, complementary or unrelated acquisitions in the Resources sector may be made. The Company will ultimately aim to acquire and/or invest in up to five metals and/or minerals projects, but may also consider suitable acquisitions in the oil and gas sector.