Yes they did. That is why their share price was hovering up and down between the $2 to $3 range after successful drilling and assay results. I always look at the number of shares and multiply or divide accordingly. So for me, I look at us having roughly 5 times as many shares on issue. So dividing say $3 by 5 gives roughly 60c per share. That is only if we are just as successful with our campaign.
Then, I take more off to be conservative somewhat, so take off 15 to 20 cents brings us down to around the 40 to 45c range?
Lithium was losing its mojo around the time Azure was offered the $3.70, and right now it’s a bit worse, so I’ll even take off another 10c to 15c.
This would bring us down to around the 30c to 35c range - IF it becomes a very nice successful drill campaign. Anything above that would be a very nice bonus indeed.
Hey, I could be totally way off here, I’m just having a poke at this. It just seems to make a bit of sense to me to look at it this way. Does anybody else out there have another way to look at this? I’m no expert, I just go by past finds, movements of share pricing etc amongst peers and market expectations.
GLTAH.
RDN Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
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