Post by
Tree2tree on Mar 17, 2023 9:52am
You have to look at real facts and ask the key questions
1. The Mali mine's reserves are being depleted and not being replaced. For now, it may (or may not) be making just enough money to keep RBX alive, but for how long?
2. RBX did not acquire the Guinea property with cash flow, they acquired it by issuing shares and massively diluting existing shareholders. In other words, RBX's shares were devalued to make the acquisition (not to mention future devaluation if they have to issue more shares). RBX is betting its existence, and your money, on one hyper-risky project. It's actually fair to say that the Guinea project swallowed RBX in its own struggle to stay alive.
3. The key question is, what are the chances of RBX successfully financing (forget about the vanishing profits), building and operating a mine in Guinea? Shareholders should open their eyes and be realistic. Look at RBX's share price chart and ask yourself what are the reasons behind it, and are those reasons going to suddenly go away. Then feel free to gamble against the odds if you are in the mood for gambling.