GREY:RGVNF - Post by User
Post by
kenbull1on Aug 18, 2010 10:11pm
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Post# 17363635
interesting
interestingI wouldn't put too much "stock" in the La. drill play paying off as it has been presented in the "news release". I also do not believe that it matters in the near to short term (2-9 months) if the drillers hit paydirt or saltwater. Read the news release for what it says, it is basically a PP for 1.2million shares @.08 if that is indeed the SP that the loan was based on. The lenders have an option to take 8% or shares after one year, the 8% is a ruse, no one is investing (as presented) in a junior miner for 8%, they'll take the shares I guarantee it. Red Mountain is going to get some action as well but the action that matters with this one is going to be based on what kind of releases' Mr Switzer can generate and how good a job the people at Haywood can do in generating some momentum
There will be no oil in La, there will be no gold at Red Mountain but there are going to be some great "news releases" and more importantly the folks who will be charged with getting the SP up know what they are doing. I am in past .10, something I swore I would never do with this company again but I am betting my money on the $1000000 they found in Langley, that's a lot of dough for a play like REV.