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.
Western Queen Sold, page-6
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Mkt cap ! $29.21M | |||
| Open | High | Low | Value | Volume |
| 3.9¢ | 4.0¢ | 3.8¢ | $30.97K | 806.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 617575 | 3.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.0¢ | 339512 | 3 |
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| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Change
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| Open | High | Low | Volume | ||
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| Last updated 15.59pm 14/06/2024 ? | |||||
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