{"id":141649,"title":"Ajax Reveille Stake Valued at £1.44m After Pompeo Chairman Announcement","publisher":"Share Talk","author":"sharetalk","published":"2026-10-09T07:48:37+00:00","modified":"2026-10-09T07:48:37+00:00","canonical_url":"https://www.share-talk.com/ajax-reveille-stake-valued-at-1-44m-after-pompeo-chairman-announcement/","markdown_url":"https://www.share-talk.com/ajax-reveille-stake-valued-at-1-44m-after-pompeo-chairman-announcement.md","json_url":"https://www.share-talk.com/ajax-reveille-stake-valued-at-1-44m-after-pompeo-chairman-announcement.json","category":"Mining","categories":["Mining"],"tags":["Ajax","Ajax Resources Plc","Alagoas State","Argentina","BRAZIL","COPPER","Eureka","Euronext Growth","Gold","Ippolito Ingo Cattaneo","Jujuy","Mr. Elton L.S. Pereira","Oslo","Pereira Velho Exploração S.A.","Pereira Velho Gold Project","REV","Reveille Resources Plc"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/10/e67c30cb-5276-4155-81c7-045804d0f799.png?fit=1727%2C911&quality=80&ssl=1","format":"news","language":"en-GB","content":"**Ajax Resources PLC (AQSE: AJAX)** has highlighted the increased value of its investment in uranium explorer **Reveille Resources PLC (AQSE: REV)** following a sharp rise in Reveille’s share price.\n\nAjax owns **14 million Reveille shares, representing 17.52% of the company**, making it Reveille’s second-largest shareholder.\n\nAt Reveille’s **8 October closing price of 10.25p**, those shares were valued at approximately **£1.435 million**, compared with Ajax’s aggregate investment of **£502,500**.\n\nThat represents an unrealised uplift of approximately **£932,500**, with the quoted value approaching three times Ajax’s invested capital.\n\nThe calculation assigns **no value to Ajax’s warrants**, which provide further potential exposure to Reveille.\n\nAjax holds **5.8725 million warrants exercisable at 5p** subject to conditions including project approvals or certain corporate transactions, together with **6 million warrants exercisable at 10p**, including 2 million acquired in its latest investment.\n\nReveille is focused on the **Novazza and Val Vedello uranium projects in Lombardy, Italy**, which are progressing through the environmental impact assessment process.\n\nInvestor interest has also increased following Reveille’s announcement that **Michael Pompeo**, who served as US Secretary of State from 2018 to 2021 and CIA Director from 2017 to 2018, is proposed to become Non-Executive Chairman.\n\nThe appointment remains **subject to completion of customary regulatory due diligence and onboarding requirements**, so should not yet be treated as unconditional.\n\nAjax also corrected the regulatory classification of its original **£200,000 investment in Reveille**.\n\nThe company previously treated the transaction as a joint investment arrangement rather than a related-party transaction. Following further review with corporate adviser Allenby Capital, Ajax now considers the initial investment to have been an **RPT because chief executive Ippolito Ingo Cattaneo invested alongside Ajax and contributed more than one quarter of Ajax’s investment amount**.\n\nAjax’s directors, excluding Cattaneo, said they continue to consider the transaction fair and reasonable for shareholders.\n\nThe subsequent £200,000 investment did not meet the same RPT threshold.\n\nAjax’s entire Reveille shareholding is also subject to a **one-year lock-in from Reveille’s July 2026 admission**, meaning the current £1.435 million valuation cannot simply be realised through an immediate sale.\n\nFor investors, the principal attraction is Ajax’s **leveraged exposure to Reveille through both its 17.52% equity holding and warrants**, with the quoted shareholding now worth substantially more than its acquisition cost.\n\nThe key catalysts remain **regulatory completion of Pompeo’s appointment, progress on the Italian environmental approvals and subsequent exploration of the Novazza and Val Vedello uranium projects**."}