To be honest the fact that this company went into administration has absolutely baffled me.
There are plenty of mining explorers on the ASX that continuously capital raise without ever making any substantial progress. Meanwhile RVR was profitable 6 months ago with a decent balance sheet and goes down without a single attempt at a capital raise.
There are only a few possible scenarios I can think of for this. The fact that RVR went into administration immediately suggest they may all be true: - The thalanga mine collapse was much bigger than disclosed. Most probably the mine was no longer cost effective to repair and return to service - Hillgrove gold mine was a potato. It was never feasible to extract the gold from here at a cost effective rate - RVR was never going to get the final mining approval for the liontown mine
Shareholders were being egged on by promises of the two latter points, while the company scraped by on the Thalanga mine. As soon as it collapsed we were gonskies
