Actually you could be on the money there.
RIU presentation came on the 20/2/2020.
https://www.asx.com.au/asxpdf/20200220/pdf/44f8rjspm9421l.pdf
It was about 30 mins into that presentation that someone dumped 50M shares. Placement stock had only been issued the day before. A few here speculated that the cash balance might have been wrong. Can understand the sellers concern if the company had spent an additional $700K in the quarter, but turns out it wasn't true.
They have $1.6Mn in bank.
This quarter they planned to spend just $250K and that included over 1,500m of drilling and assays from last round at Lynn Lake. I have to say that is exceptional capital management. They could do a drill program each quarter and still have another $500K in bank in 12 months
Well that was a nice report to read. Normally financial reports don't give too much joy.
Ann: Half Yearly Report and Accounts, page-5
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