From my perspective, a potential red flag has risen from what appears to to be a sell down during the Dec 2020 Quarter of half their holdings in RTG without a disclosure or one that I can find and at a price that appears odd.
As at 31 December RTG shares were $0.20 (currently $0.20) with 10.3m shares in RTG (and 734k shares in Panther Metals), per the last statement on their sharholders I can find. This should then equate to $2.6m in RTG shares (along with another $200k in PLM), However the company has only disclosed $1.3m in RTG shares (in the Cashflow). What happened the to the other $1.3m in RTG shares and $200k in Panther Metals shares?
Working back, $1.3m holding in RTG equates to 5.15m shares at $0.20 as at 31 December 2020, so it appears 5.15m have been sold.
However, proceeds from investments of only $580,000 is shown in the cashflow for December Quarter - 11 cents a share sell price.
During the 1 Oct to 30 Dec, RTG share price was between 0.17 and 0.23.
I tried to contacting the company earlier without success to raise this.
WCN Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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