The 3 most likely reasons for the halt would be corporate, a capital raising or the updated resource. The only negative one there is a capital raising and since they appear to be on a road show the new stock could be gobbled up anyway, thus not affecting the price. No need to speculate on corprate as I for one hope it's not, but will cope of course if it is. A resource upgrade could be on the cards as it has been flagged. If so, from 63 million tonnes and 45,000 metres of drilling, you'd think they'd be going to 200 million tonnes but more likely up to 400 million tonnes. 400 would justified by the current share price ($3 of market cap per tonne) but still would be a great result, given the shallow depth, the hard coking coal/ thermal ratio in the reported drill results and the fact that this is drilling on only about 10% of their land holdings.
RIV Price at posting:
0.0¢ Sentiment: None Disclosure: Held
