This Don’t Look GoodThe stock market is looking like the 2008 subprime meltdown being revisited. This time it is the 80's stagflation. Goldman Sucks said such environment is really bad for stocks. The self-promoting diva Cathie Woods is being slaughtered by wall street. Crude is skyrocketing and RECO is doing nuthin' ?? Sure, it is just a penny exploration Co with no oil but vigorously being pumped up as holding 120 billion barrels of oil in ground with year-end production bullet-proof...lol
The deal with Namcor could snarl RECO under the ambit of the Foreign Corrupt Practices Act as looking like influence peddling. The two $million cash plus 5 million shares to buy back 5 percent that is free to Namcor?? The Class Action lawyers will have a field day finding out who negotiated that sweet-heart or quid-pro-quo deal that even the Govt disavowed knowing. Delay is a red flag. As one wise lawyer specializing in foreign bribery cases said if it looks bad, don't do it.