I have held and lost on it ages ago. Brought around 3c, got out at 1.8c.
Their problems are still the same; poor/pathetic management, rediculous overheads/mining costs and waaaaaaaaaay to many shares on issue.
They have done captial raised after capital raise after capital raise. I sat through 2 in the space of year from memory.
Now they can't capital raise, they are begging the banks for loans in return for gold. Pathetic...
RNG have alot of gold, great grades! But they don't owe their own plant. Using Barracks instead for rediculous prices.
RNG are going to be taken over or go under. Personally, if I could find myself a few chinese investors and have a spare $20 mill, I'd buy the dam thing myself. I'd get the chinese to fund my 100,000oz pa plant/mill, tell Barrack to bugger off, sack all the directors, reduce the shares in a 5 for 1 and pump out gold.
I would not be buying now...
RNG Price at posting:
48.0¢ Sentiment: Sell Disclosure: Not Held
