Buy side is thinning rapidly now and along with the deliberate markdown yesterday, the 'red flag' obfuscation on who managed the placement and where the shares went; that *might* signal 'the pros' are finished this phase of share distribution and it's time to reset the share price back to the lows for the next acquisition/capital raising/discounted project sale? A well-worn cycle on many juniors.
Given most orders on the buy-side have historically been props that flee when threatened, the sign it has just been a pump and dump is when the 5m buy gets pulled.
Now that cash is available for administration fees, it is possible that very little of substance will happen for years as seen before.
OVR was pretty much the only company that sat on the sidelines during the last Zn bull run, so not a stretch to imagine this company could also miss out capitalizing on the gold price rise coming. Even when gold at $6000 RNX shareholders may not have seen a return even if the market capitalization has risen due to the endless pursuit of funds that as yet have not added any value..
RNX Price at posting:
0.7¢ Sentiment: None Disclosure: Held
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