I met a broker at an elite investment bank a few days ago who had clients involved in the capital raise and had clearly been following the stock/market closely. He begged me to sell (or at least half) my portfolio. It was a little scary hearing his professional view and how determined he was for me to listen given I've got a decent stake.
He said he had high net worth clients (who had been hoping for a quick buck with the capital raise) sell for a loss once getting their shares. He thinks RDN is priced to find an Azure-esque discovery and even an average discovery will see the price go down. He said the capital raise (after drilling) was suspect and after a few weeks of drilling, RDN should have visuals on the cores by now (meaning the silence is also suspect). In his words "it's the most overvalued stock on the ASX" which is not wrong given its trading solely off hype at the moment.
I'm not saying this to cause fear or panic. I regret sharing the Chinese whispers I received from a geologist I met socially a few weeks ago who said "his friends at Azure do not think it will be a gold mine". This was unverifiable hearsay, however the views of this broker were just opinion.
Any investor here really should be aware that RDN is incredibly risky. There are presently more red flags than green flags at the moment and I feel like a lot of people here are living in straight up denial given how much they have invested and stand to loose.
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