This company showed so much potential as a junior with an advanced project and some highly prospective ground holdings in mining friendly Canada under their belt a couple years back and instead of focussing on exploiting those projects and potentially generating cash early as possible they have decided to go on a spending spree. It's like the directors are drunk on cheap credit / ease of access to funding and they are continually chasing shinny new toys. If RFR was a mid - large cap well capitalised, low debt company then this is a great strategy however they are not......unless RFR plan on bringing JV partners in to help progress this growing number of projects then I can't see any solid price appreciation.
Fortunately I don't hold a large position but I conflicted as to whether it's worth holding on to see if RFR can extract value out of these assets or whether I should just cut my losses and run.
RFR Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
