OTCPK:RDIAF - Post by User
Comment by
thinker1951on Jun 23, 2009 11:25pm
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RE: pala sales
RE: pala salesSince pala lost its bid to replace the board this sale of shares by pala and resignation should be viewed as good news. Pala has given up its takeover aspirations. Management can concentrate on surviving the downturn and hopefully turn this ship around. If the diamond markets recover they should be able to do this. If the downturn is prolonged well we know what that outcome could be. Debeers is coming back online with rough diamond sales just as the market was improving. Its all about selling the diamonds and that may take some time before decent prices return. Im still waiting to see where the share price settles at. We may see another leg down for the stock markets and I would expect rdi will go lower if markets retrace their recent rallies. Otherwise 5 cents a share may be a great price looking back a year from now.