Yes fourdollars and Dybala21 you bring some sense and stability...

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Basilo

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19/03/24

12:58

Post #: 72959262
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Originally posted by fourdollars: ↑

Title of this thread is incorrect. "Held for Sale" and "Sold" are not the same.

The good news is that the asset hasn't been sold for $6.8m so there is the opportunity for the company to sell it for more.

The bad news is that the asset hasn't been sold for $6.8m so at this stage the company still faces a liquidity crisis.

It looks like a bit of creative accounting to reclassify a portion of its capitalised exploration expenditure as a discreet asset awaiting sale. Probably helps the company look like its not too desperate in respect of the inevitable, upcoming capital raise.

RTR needs enough money to get through to proving "beneficiation" of its Earaheedy resource and double the inferred resource. It probably needs a $5-6m raise as well as the sale of the Western Queen asset to get to that point.

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Yes fourdollars and Dybala21 you bring some sense and stability to a speculative comment .
I have been a long term player since the 5-6 cent days and loaded up big time yonks ago .
There were sniffs years ago especially when Gascoyne was so close until the bubble burst that saw NRW intervene to protect their machinery and interests in that company . There must have been others as well .
The situation now is completely different with gold prices at record levels and a relatively easy kill with Western Queen .
I have no firm news but it is a very attractive proposition and at $6.8 m would be theft . Reserves proven plus upside with future exploration makes $12 m the starting point .
Hopefully in the next month or so the liquidity problem is solved with a sale . This prospect may wake me up to have another decent crack at them .

RTR Price at posting: 7.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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