significant upside

There is no doubt that Rebublic has plenty of upside.

A market cap of $13mil with $5mil cash in the bank. Approx $300milNPV5 at current gold prices for its major project and set to rise significantly as reserves are increased. $500milNPV???????

Amayapampa has 1.2mil ounce JORC resources, 800k ounces JORC reserves. Production costs sub $400 an ounce, leaving after tax profit approx $750 per ounce. Company aggresively drilling in order to prove up further reserves that may take it to up around 2mil ounces.

Patto's are on board the Republic ship whether they like it or not, it appears they have taken control and started by cleaning out the board. The current divestment of assets seems out of character for a small cap company, generally speaking the more assets the bigger the director fees. So I suspect this is at the direction of Patto's who do not wish to contribute anymore funding. It looks as though RAU will be able to fund themselves through to the new year, by which time it would be expected for them to have secured funding.

I suspect RAU won't be around long enough to get to production. I very much doubt Pattos want to be in for the long haul. They are ruthless, out for a quick buck and the best favoured path for them and their clients would likely be to prove up the reserves and sell the company. Based on the figures above it may not be so hard to acheive multibagger returns over the short term.
cheers