$55M market cap fueled on nearology. This was over $100M market cap not long ago.
The overvaluation was in loooong ago. It has failed to deliver on high priority targets in an area where the hard work has already been done by AZS and ex-AZS holders. This isn't a good look, and the valuation will continue to come into reality once we realise that if there is something which as we have identified so far is likely in small amounts at surface, or very, very deep.
In a macro environment where both lithium demand has unlocked a significant portion of mines, such as in cases like AZS, put known resources in the firing line to get drilled and developed, the grades we are seeing here, way down in the ground are simply not economic and no one needs to rush towards a takeover or anything as an uneconomic deposit will remain so. And the market or private buyers will value it so.
The results we have received so far are not indicative of an economic deposit or anything beyond a gamble.
The pumpers still preach positivity and there really isn't anything to be positive about. As we (apparent downrampers) have said, this will continue south, and the likelihoods of a turnaround are poor.
Like I warned many, many months ago, look around at your fellow "investors", they are contributing to the valuation of this company. Look into the likelihoods and fundamentals (as you have done to a degree so I'll grant you that much).
Another red flag is this near cult of personality for "Dusko".
The red flags are blaring, no green flags as you say. Someone on this forum, rightly or wrongly suggested there was a leak, and again the likelihoods are suggesting they were true based on singular numbers they mentioned. And this preceded a trend downwards BEFORE EXPECTED RESULTS.
Again, the theatre is on fire and the doors are small... Whatever "smart money" is left over has been desperately trying to flee.
This is a disaster and a retail gambler trap from the get-go.
Just like the gold rush back in the day, some things never change. All sorts of people swarm an area in hopes of making it big after a discovery. Those selling the dream get rich once again.
RIP RDN.
RDN Price at posting:
1.5¢ Sentiment: Sell Disclosure: Not Held
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