OK, Broko my old son I'm going to feed you some burly because you are stressed and I'm not really that mean.
The selling today was just a bunch of traders having to close out. Let em go, who cares except for the damage they do to the share price on the way out.
Nothing has changed with the company.
Reconstruction aint going down in the near future so all those brokers who have been asking can relax. The company is more atuned to the value of the assets rather than the number of shares on issue.
The resource size of 106M tonnes as very very conservative. Using a 0.01% cutoff, the resource is likely to be 2 to 3 times bigger.
This may be every bit as big as Moly Metals but at a much higher grade. Well maybe half as big but double the grade. But once you get to 200Mt who cares how big after that?
One of the big costs of these projects is power. Burning diesel to generate power is hugely expensive these days and is killing many a mining operation. This project will use hydro power. Aparantly all the local attributes are there. Being near the deeep natural port will save on transport costs as well.
Could you imagine 200M+ tonne @ 0.20% (MOS2). Thats about 0.12% MO which is double Moly Metals grade (0.06%MO)
Oh I nearly forgot, JV discussions are going on with 2 potential parties at present.
RCH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
