A few weeks ago there was no one on here apart from 3/4 of us.
The share price starts to move and people start saying there is a CR....lol
A few months ago the SP was trading closer to 5c. Early last year it was nearly 10c.
A CR occured end of September of $2.6m, to fund exploration across 2 of the projects.
Drilling at West Arunta was going to happen in December but the bad weather forced them to postpone.
Drilling is planned to begin next month at West Arunta.
The whole West Arunta region is hot and there is alot of excitement.
RCR is probably the cheapest player in the area and compared to its small cap peers, ahead of the game with heritage approval done and drilling to begin next month.
The cash in the bank is fine compared to its peers.
MTM has issued a whole bunch of new shares and options with the acquisition, making its market cap alot higher than currently quoted, as they will be issued next month!!
100m new shares
50m options
37.5m performance rights
20m advisor and director options
15m performance options
If I take just the new shares for MTM, they have 200m shares on issue. They also have a convertible note from the $1m raise, which will still have to get exercised.
Based on the current price MTM is now over $25m MC.
RCR is only $7m MC.
RCR Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
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