I think we will have to wait for quarterly report. The next quarterly report should have confirmation on 7m cash (worth $42m for remaining 60% in DRC, 10times more than current MC) received from Afrimines and progress on drilling activities. The only concern with RER is that political instability and rebel fights in DRC. However, there are over 25 big mining companies operating in DRC and I don't think it will disrupt company in any manner.
As per last report (Regal secures US$7 million for DRC Exploration Funding), the company own diamond drill rig and drilling has confirmed the presence of high-grade gold with the better results include: 37.55m @ 8.09g/t Au, 31.5m @ 5.63g/t Au and 13.85m @ 4.11g/t Au.
The company has 60% interest in a block of 14 permits covering just over 2000 sq km, located near Banro where it estimated having 11M oz of gold in their assets. RER market capital is about 4.5m and having about 105m shares. The JV Afrimines is also a part of major shareholders. With cash backup, I don't see any CR for next 12 months
The market is back normal since new year and lot of buy happening on price senstive news especially for small cap (DRK, AZS, MNE) with few number of shares. IMO, RER is a risk play but if company confirm 7m and come up with same drilling result in next anns, we may see at least 15m MC (3x current SP) in short term.
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