Perhaps confirmation of the JV was already factored into shareprice noting RLC did move from 4c back in October when the Heads of Agreement was done with Cliffs? To this end, RLC will only get 25% of iron before costs if Cliff's do in fact mine one day and Co. is otherwise still somewhat cash poor with only about 1m in bank (even with the 500k from JV).
Anyways, there should be some U news in march but I'm not convinced this announcement/deal alone ensures stock will remain above 10c - nor that there wont be a capital raising soon...
Just IMO and havent been wathcing this long...
tightly held, page-3
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