Post by
frostback on Oct 04, 2022 9:06am
Where to from here?
How low can this go as retail looses faith in any meaningful returns? I can see sub 0.20 possible and will there be an upside from there? This may be a short term buying opportunity once the dust settles for those that are willing to take on risk. The raise is small and will only to serve to keep the lights on and not progress any meaningful progress towards production and cash flow with the exception of engineering and studies. Certainly there will be another round of raising capital to move forward – at what price and when is anyone’s guess. Unfortunately time is not on the side of RHC as the capital markets will likely remain very tight for the foreseeable future leading to any further raises being predatory and costly. This could get very ugly.
Comment by
jake1444 on Oct 04, 2022 9:31am
Another huge dilution to fund the surface equipment/well completions? And then let me guess, a reverse split. What have they bern doing for the last 6 months?
Comment by
MrInvester on Oct 04, 2022 10:14am
Neither of those are cheap. 7 Mil wont last long. Drilling & completing a well could easily consume that. It would be nice to have a little more info on this. Ive been watching this for awhile. Maybe now is a time to buy?
Comment by
Margin321 on Oct 04, 2022 10:03am
What do you mean it could get very ugly? It is very ugly.