Ha! Speak of the devil.
So... they are selling their Coal project for $24m.... oh... but wait, they get $2m in cash. The other $22m...
is in convertible notes of a company that they plan to list one day....
So basically, REY is still broke, but... without a coal project either now.
Just the Canning Assets.
Kind of a shame really, as if REY actually had any money they could drill a well or two.
Ann: Duchess Paradise Project Transaction, page-2
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