TL: DR :If there are any other questions I have missed please reply with them. Please to not reply with answers that are not facts, anything less is wishful thinking in this situation.
The sudden resignation of the CFO, comes across an obvious event that should be viewed with skepticism by the investors here (traders, speculators, general punters probably not so much). Especially on a project that has had strong fundamental announcements, and soon supposedly more announcements that would see the share price move many times beyond what it is now.
I am putting a call out to any investors that have went over RLT's financial statements with a fine tooth comb, or have came across any other information that might of seemed irrelevant at the time, but now might seem more relevant. That any findings, even seemly small be shared here for others to look over.
I encourage all investors here to collectively go over the business, the secondary and 3rd order items related to RLT (interviews, articles, news articles) with a skeptical eye. I have seen what a collective can do on a place like Reddit, I believe the collective here can do the same and turn more stones compared to just one person.
The Long Version:
My mind is blown how bad investors here would rather bury their heads in the sand, and hope that the business performs faster then potential fowl play, or general problems unseen from the outside. Some did question the sudden resignation, but no more then a meek comment. I want those who did at least comment to contribute to this thread, and beyond that I think if a good percentage of the community joined in, all stones can be turned.
Most people here are highly confident about the future of RLT, and the significance of their assets. Forget that, the significance of the assets (Helium) to the world, and the supply restrictions in general. Its a perfect storm! So am on board with the optimism that many will agree with. So its extremely suspect that the CFO has suddenly resigned.
These are my questions:
1. Why was the resignation so sudden? And lack a replacement? Did the CFO refuse to be involved in dirty methods within the business? Or did the board find out the CFO was using dirty methods and "quietly" fire them?
2. If the board decided that the CFO was not competent to run a business RLT will supposedly become, how does it make sense that the resignation was immediate, and no ready replacement to take their place? Surely due to what RLT can become, a ready replacement would of been found before hand? I will highlight this quote: The Board has commenced a process of identifying a suitable replacement and shareholders will be advised as soon as such appointment has been made.
3. Why would they suddenly leave when more announcements are to be made, and share price probably to go higher (many would say $3 and beyond).
4. How large could these "other opportunities" possibly be? Compared to a business holding what looks like the largest Helium assets in the world?
I will begin to do some extra sleuthing myself, but like many here I have my hands full so my progress will be somewhat slow. This is why getting a larger number of people to get involved helps. Others might spot something that most missed.
The above are for the long term holders. For these people, any red flag should cause them to either want a good explanation from the business, or at least warrant a closer look in the area where the flag is raised. You are part owner of this business and should be skeptical by nature.
For people who might say I am paranoid, and everything is fine, that is based on wishful thinking, not facts. Many frauds have come forth from very similar warning signs, and even from much less that even most skeptics might miss (buried in the notes of financial statements).
I rarely login to post on Hotcopper, but this seems well worth it to me. This is not a down ramp. I have traded RLT a few times, and bought in at the high price (relative to historic prices) of $2.60. As longer term holder at this point, I am comfortable at such levels. This is a genuine raising of the eyebrow, and should raise the brows of all investors here.
To finish, I will give you my own red flag I have found among others:
The Mining company Coronado, owner of metallurgical coal assets acquired an asset from Westfarmers a few years ago. I took note of the TRIFR (total recordable injury frequency rate) after they acquired this assets within Australia. In short the TRIFR was much better compared to the Australian national averages, in the beginning. As I went through the years of annual reports, the chart began to quickly trending up toward the national averages and I think went beyond it. At the TRIFR peak, Coronado had a death on the mine site.
This is the take from someone who works in the coal industry on the production side: There are very few reasons why the TRIFR would go from really good, to really bad and a death on site. Basically Management have come it, and aimed at sucking every bit of efficiency out of the new asset (that can be seen to slowly improve in the annual reports), an attempt to raise margins. I can tell you right now, management have pushed for production over safety, hard. Mix this with garbage bosses that you will never see on the front of the glossy annual reports. What you get is dropping morale, and apathy within the workforce sets in, and worse "new norms" of standards when doing the job.
Management come in, push for production, bad management styles, production goes over safety, morale of the workforce tanks, people care less about the job, people begin to take short cuts, more incidents happen, management try to address events with initiatives, initiatives are not followed through, morale continues to fall.
I have seen this happen first had. Thankfully not to the point someone dies, but very close, many times.
The point of this, is that this red flag might not be so obvious to someone whos looking from the outside. Although some might be concerned (much like this sudden resignation), but shrug it off and continue to focus on the rest of the positive aspects of the business. I can say no one on the hotcopper forums commented or cared about this red flag as far as I know. It was enough for me to pass on the investment.
I want to point out that not all red flags mean the death of the business, they could mean serious issues at least. For serious Investors, a valid and confirmed red flag are a means to pass on an investment.
(20min delay)