I'm wrong more often than I'm right but yesterdays selloff seems...

I'm wrong more often than I'm right but yesterdays selloff seems to have been driven by a fear of a cap raise to me.
The fear of a cap raise can feed on itself as it evidently did yesterday, at least it appears that way to me as hard to find another reason for the brutal selloff.

Rtr had a stellar run, raised a fortune at 50c as brokers were falling over themselves to be a part of it and now it's 20% below cap raise 6 weeks later and that has left a bitter taste in many holders.
I can say this because I'm a shareholder and currently in the red.

Reviewing the last qtly cash burn of circa $500k.
400k exploration 100k admin with similar expenditure forecast for the next quarter they are currently sitting on enough for 2.88 quarters.
Above the 2 quarters required for a "please explain" to the asx.

Sure they need to raise money at some point but as Stewart explained in today's zoom interview as of today there's nothing concrete in the pipeline.

Further to that he went on to state that he's been inundated with brokers approaching them asking how can they help in future raisings.

They are getting maximum bang for their buck on drilling expenses, as it's very selective, targeted and not drilling 100-200 metre holes from surface before they intersect mineralisation.
And it's visual!!
You stop drilling when the visuals stop.

I saw the underground drill rig in the preso.
That's tiny and not expensive to run.
The drill crew are ready and on standby for whenever VAR want to resume drilling, so it's not like they are busy elsewhere so imagine the drill rates are very favourable.

VAR's cash can go a long way when you're drilling this way.

Directors own nearly 19% of the company, you think they want unnecessary dilution.
Low MC of $20M means it's unlikely they'll raise a lot say $2-3M if and when they do decide to raise.
At 10c that's 20-30M shares.
They can turn that over in day so can readily be absorbed into the market.

This appears to be a storm in a teacup and won't be surprised if we're well over 10 tomorrow maybe even back to 12 where it should be at a minimum.

Will try and watch the Amvest capital webinar tonight but expect it'll be a rehash of today's zoom meeting.

Stewart stated they've got Twitter, Instagram, LinkedIn up and running as they now know after these latest 2 sets of assays with the 3rd set pending they are onto a winner and they're going to be raising the company profile hence the recent webinars.

I'll laugh if down the track they do a small raising at a premium to some European fund and all those who have recently sold out fearing one watch as the price opens higher than the raise and keeps going.

There is value here and I'm glad I bought more at 8.7 and 9.2 today.

Cheers