RVR was generating profits from Thalanga. They paid back substantial debt and built up cash of >$ 8 million. They then had a court order against them for $18 or $19 million for unpaid royalties. This drained all cash and put them in debt again. A few months later the highest grade stope underground failed, and the remaining operational stopes were not profitable. Hillgrove was also chewing money. They could not survive. Thalanga was profitable and had been in the past. Liontown was to be RVRs next mining project to feed Thalanga mill, hence the drilling completed there.
SHN Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
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