Funny how sentiments change when the fundamentals haven't, if anything the fundamentals are stronger than it was back in Dec-Feb period when it was ranging between $13m-$16m Market Cap and din't have a highly promising Cobalt project on the way along with drilling hadn't started for the lithium project, with results for the initial first two holes due soon, these results if promising will mean RMX will take up further earn-in of the Lithium project and purchase further land on top of the 6,000 acres RMX themselves currently own.
Sitting at the lower end of the Market Cap valuation at $10.5m for lithium/mining specs, with the Cobalt project yet to be factored in until acquired. $2.8m Cash and only 429m Shares.
Add to that the overall downturn in the small caps and general markets over the last few months, with money leaving the small cap sector. Next financial year should see money coming back into small caps.
No reason for lithium results to not be good, no one knows until they are announced, but from Drill Hole 2 hitting multiple acquifers and the decision to drill deeper is promising, if the geo and ground team didn't see value in DH2 they would have stopped drilling not drilled deeper and no need to drill hole 3 just yet given it's right next to hole 2.
Prime time to buy if you just stumbled across this given the low Market Cap, low shares, drill results to come, acquisition to come and cashed up, or great time to top up too.
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