My opinion is that they have foundsomething,bits and pieces,which is enough to justify the expansion of drilling but not enough to be the major discovery that RDN is hoping for. If this is the case, then we will all lose money as the share price will fall significantly.
The capital raise. Ultimately, only time will tell why this capital raise was called after drilling and before the assay results being released. However, to me it was a significant red flag for the reasons that have been thoroughly discussed in this thread.
The latest announcement has informed investors that cores are being sent to Perth for scientific analysis. This means that RDN have visuals on the cores. The announcement has zero excitement and zero mention of visible spodumene, there are other reflags as well which are listed below.
They have not shared images of the cores. They are not required to, however if it was a massive discovery you would think they would (like Azure did). It is strange that RDN have been following Azure's playbook until now but then deviate on providing images.
This announcement states that they have moved onto exploring other target areas which were not part of the original program. The company’s cap raise was initially meant for targets 1, 2, and 7. However, they are now planning to drill targets 3 and 4 as well, which are substantial and costly due to their size. While they have funds from the capital raise, if they made a significant discovery, it would usually warrant a major announcement or wait for assay results. Instead, they announced plans to drill unplanned targets, which to me is indicative of the discovery not being what RDN was hoping for.
There is also the statement about management providing guidance to the technical team. To me this is indicative of the site team not being confident.
Other posters have also mentioned that if the cores looked good from the visuals there would be insider trading concerns.
Any or all of these points could be rebutted or wrong. However, when all are considered together, I think it points to RDN not making the discovery we need. I want to be proven wrong and when the assay results come out and if they are very positive, I will be the first to admit I was wrong and cop the flak. I just think that you all have rose tinted glasses on and this thread has become an echo chamber where any view that highlights the red-flags or dangers gets dismissed the poster insulted, disrespected or antagonised. People need to be prepared for the results to be not what they are hoping in a couple weeks in my opinion.
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