Well no surprise here, text book company takeover by new management. As I predicted, cheap 1.5c cap raise and old holders staring down the barrel of a re-set share base. Little doubt about the motives of some recent poster here full of praise with the handover.
Step 1: Get new guy on board with ridiculous 38M rights deal with largely can't miss hurdles
Step 2: Massive discounted cap raise to get associates set
Step 3: Rotate out old board and bring in new team... all on top wages
Rift is now ready for a rev, pity about the old shareholders and especially that recent cap raising at 3c. One wonders why the old board would engineer such a cheap handover starting with gifting 15% of company to Atherley already flat out in 3 other listed companies? Surely it wasn't handed over for nothing lol.
Anyway, shareholders in juniors are always at the risk of management greed and ineptitude. Dilute, have on crack with free shares and nice base salary, crunch, wash, rinse, repeat. Now that the new guys are set and the new low share price re-set my playbook says it is time to give it a rev once the jaded old shareholders and shaken out. With $5M raised and probably another $4M or so coming from the sale of Tanzanian gold projects the time is close to pinch nose and jump on board for a rev in a few months time.
Story still intact;
China likely to cut off REE exports during increasingly antagonistic trade war
More drilling to upgrade resource to indicated Category and Scoping Study to PFS
Talk up AIMS listing of project in UK and new interest from experienced Africa investors
Run around with new resource numbers, PFS results and give it a rev
Hope REE prices spike with China trade tension while talking up rumours of a takeover before AIMS listing can happen
Sell into volume spike as the punters jump on board the story and self-fulfilling rising price trend
Good Luck
RVY Price at posting:
1.7¢ Sentiment: Hold Disclosure: Not Held
