CY21Q1 Results and the year that'll make RVR, page-27

If RVR and many other companies had to rely solely on banks to lend them money they may not be in existence. RVR's working facility is not with a bank and one bank at least will not allow equity lending with RVR as it's not on their approved list.

Never have claimed to be an expert on mining nor in finance and simply saying that banks have their strict risk analysis systems where lending may be difficult for some to attain - guess they want to be sure that they'll get their money back. Shareholders also want their money back and then some, however our risk appetite differs to banks' requirements. We also become part owners whether via an IPO or buy in.

As a former property developer, you are probably much better versed in financial matters and perhaps even had funding via a mortgage broker or some such alternative source of funding due to banks refusing financing for a project due to various reasons.

There are many companies on the ASX with no current earnings and none for the foreseeable future and yet shareholders are happy to jump on board. RVR has current earnings albeit with liabilities - so how does anyone assign a fair value to it. It's whatever the market decides. Interestingly, if there was a takeover offer for the company, the amount offered would in all probability be at a premium to that offered on market - that is, if value is seen by the acquirer after their due diligence - an offer doubling current SP may be seen as fair and reasonable by an independent report, though some holders may voice their disapproval since in their view it's worth even more.

Additionally, if RVR was to find a few more sweetspot areas in it's drilling efforts, share prices would instantly jump higher and that's irrespective of any current valuation by any analyst or any current projected earnings. SYA tripled in value this week - not because of any current earnings but due to an announcement and future potential expectations - and boom, shareholder appetite kicked in .

Not sure what RVR is worth to you, however, I have a TP price in mind and currently it's not even close.