Define 'long' - you mean when RMX was run by Dugdale and Warburton from 2011 - 2016?
Here are some facts: new management took over July 2016. Prior to this, the company had over 3 billion shares on issue with close to zero in the kitty & growing liabilites. They kept the company alive by restructuring the company and raising enough money to pay off these liabilities in the Phillipines. They brought in a low cost conceptual lithium play and managed to attract enough market attention. Most shareholders that got 'stuck' at 0.001/0.002 prior to the restructure were able to see their money back at one stage. Further capital was raised in the new year and now the company is sitting with a healthy $2+M in the bank. It was unfortunate that there was not enough lithium in the brines at a commercial level, therefore in hindsight, kudos to management keeping the earn-in deal at very low cost.
The DRC, as everybody knows, is rich in copper and cobalt. However, to negotiate with local vendors for a good deal would be a tough ask, and being DRC, I'm sure everyone would agree that it's crucial to make sure every single box is ticked before going ahead.
Personally, I think it's better for management to take their sweet time getting things thoroughly checked than to slap on a deal straight away just to get some very short term volume in the stock & potentially get screwed with more expensive terms if things don't go well later down the track.
- Forums
- ASX - By Stock
- DRC potential
Define 'long' - you mean when RMX was run by Dugdale and...
-
-
- There are more pages in this discussion • 551 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RMX (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.424M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
RMX (ASX) Chart |
Day chart unavailable