No niobium found at all in drilling at Wabli creek. Maybe they will find some but if they have drilled the best targets first, that seems unlikely to me at this point so I'm not giving any value to that at the moment.
Yes they have a gold project, but that's going to require a good chunk of cash to do more drilling - even then its still likely marginal at best and hence likely will never be developed.
The whole Wabli Creek project feels the same as the gold - yes they have some REE mineralisation but REE's are, despite the name - not rare - and I would say there are more compelling / higher grade projects out there.
Yes RR1 have some cash left but if they keep drilling these projects they won't have cash for long.
The raise will be hugely dilutive at these levels (or lower). If you do 1 or 2 raises that like, you blow up the capital structure and its hard to recover.
For me, all the value in the SP was in finding some Nb at Wabli Creek. I've done 60% of my capital here and I don't think there is any reason to be invested in this company at the moment.
Hence I have taken the pain already after the last announcement and sold my the majority of my holding, I've got a bit to go which will soon be sold too after the announcement today.
Just my opinion, but given the trading action I think most of the market feels the same.
RR1 Price at posting:
0.8¢ Sentiment: Sell Disclosure: Held
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