there is not enough information or justification on how they spent 1.2 milion in exploration and evaluation, does anyone remember anything they've done during last quarter? None of the announcemnets indicate that they have done anything, aprt form trading halts. do not understand whay they spent 1,2 million dollars.
Additionally, whay so much money in management 0.7M for a single quarter for doing what, destroying the share price and shareholders confidence?
I agree with some of the posts here in HC that RRS management are promoting the non-renounceable entitlement rights issue to be able to get paid for the next quarter; better-more if they are very convincing some naive shareholders may also exercise the options and with that management will secure salaries for another quarter.
I want make clear thet with the options they will secure their salaries plus 1.2 million each quarter to flight first class around the world doing the same as per last quarters, doind NOTHING.....just spending our hard earned moneys.
DYOR and seriously consider staying away from this rights issue until they "RRS Management" secures something with the new goverment in Puntland.
No point throwing money for nothing, that is the way I see it.
Today RRS has nothing in Puntland with Farole's goverment and until these clowns negotiate with the new goverment and agree on a way forward I see no reason to give them more $$$ to flight hight at ur expense.
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