You must be a simple bloke!! who said it was related to the company's valuation?? your the only one who mentioned that!! and that sort of response looks like a defense mechanism.
No what this does is it portrays the company's in-competence and un professionalism at a very basic level which sets a tone for the rest of there business dealings and in the case of announcements and share price performance to date it fits the tune to a T.
Lumber
He pretty much said everything was ok and on track, being positive but what more would you expect... this was when the SP was .50c, i ended up selling 200k shares less than a month later.
I called this a sell around .50c for the same reasons i think its not going to end pretty, imo from taking into account many factors from well performance, well performance reporting practices, capital spend versus revenue to date, capital spend versus reserves appreciation to date... just to name a few areas that look un sustainable.
Because of all these factors i really can't see how RFE will dig it self out of the hole its in and even if it got taken over i don't see it fetching anything over .30c and thats being generous.. especially when taking into account the amount of debt that a party would be acquiring and also looking at the relatively poultry production and reserves figures that they would acquire as well.
It looks as though the market agrees as well, IMO if it wasn't for the fund'd support this thing would be well under .10c and it looks as though its heading there but slowly.
RFE Price at posting:
17.5¢ Sentiment: LT Sell Disclosure: Not Held
