GREY:RNKLF - Post by User
Comment by
poneon Jan 25, 2018 5:01am
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Post# 27429704
RE:Some Questions About RNX
RE:Some Questions About RNXmellow1, you ask good pointed questions, but I actually think you are working too hard at this.
As far as Beta Hunt, how do you sell something for less money than it costs you to mine it? How does that situation improve when the yield of your operation is deteriorating instead of improving? How do you fix a capital-intensive problem when you have no capital? I mean there are huge problems here, and you don't need to spend time looking very deep to see them.
The company's numerous complex financing arrangements make clear they are pretty desperate for cash to continue operations. That helps to explain why they virtually gave away half of Dumont for peanuts.
I want to believe someone would have eventually financed Dumont. A little more patience and focus on that project might have paid off. Beta Hunt looks like a desperate "hail mary" pass to generate cash for operations that turned around and ate the company.
To me, this company looks uninvestable.