Read half year report Accounting policy 1! Says sale of coal assets for significant dollars underway...per financial statements: "Directors are confident of unlocking significant cash resources"!!
Also note current cash will be better, as financials don't include Jan completion of $2m cap raising.
If RSN gets a new and big chunk of cash from coal projects sales where will it go?? Could be debt paydown, revewed work to bring Agate creek on stream (more cash flow), or maybe an entirely new project.How much in dollar terms is "significant cash resources"?? Lots of questions and potential ; )
Financials indicate deal is in progress now so maybe not too much longer to see outcome and test skill of Chair. This could be a tipping point if deal is good (reflected in RSN heaving itself over 1c mark for good ; ) Watching with interest!
RSN Price at posting:
$2.10 Sentiment: Buy Disclosure: Held
