nval005,
No I don't know the exact reason for this.
However, it was the old Burdekin Pacific so there may have been some baggage around after the float.
Also, some new floats start well but fade away a bit after the initial enthusiasm subsides a bit.
I can only call it how I see it on the fundamentals, ie. what has this coy got.
Many uranium plays at the moment probably will never generate $1 of revenue if their drill hits don't eventuate in a mine and yet their market caps are mostly $40 mill plus.
RBM has a steady revenue stream now, a very rare thing indeed for a small mining coy.
And there is no reason for this revenue stream not to continue past the 5 years they are talking about.
Look at the Glencore announcement late last year and you will see that it is a life of mine agreement.
Business is about finding a buyer for your product, service or idea etc. And you live or die by revenue and cashflow. They have a deal that secures future cashflow and profits.
In my opinion this will bounce back hard.
There is too much to it at these low prices not to.
Flipper
RBM
redbank mines limited
