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7.3¢ red river resources limited

Ann: Quarterly Activities and Cash Flow Report for June 2017, page-12

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28/07/17

18:07

Post #: 26149125
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Originally posted by slc4me ↑

Have been out most of the day and just had a quick look at the Qtly. All good as far I am concerned. I do note they still have $27.4m at the end of June. Cant be accused of splashing the money around. So a enterprise value of $83.4m (approx 17.3c a share). Makes this the biggest steal on the ASX going around.

I do note they plan to spend another $15.2m this qtr but that still leaves $12.2m by the end of Sept. So they should start selling with a fair amount of cash in the bank. Have to hand it to management - no debt & no need to go back to the market with the begging bowl. This ticks so many boxes its not funny. Anyway must dash (off to the footy) and sleep soundly RVR holders - we are on a winner here.

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Im of the opinion they need a back up debt facility of say $30mill just incase if something goes wrong. It wont cost much for a bit of added security!

RVR Price at posting: 23.5¢ Sentiment: Hold Disclosure: Held
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