RE:RE:RE:Corporate update is outI am pleased to announce a comprehensive update on my holdings of this debacle:
I dumped this pile of moose dung at $.10, thinking a 40% loss was better than a 100% loss. My ongoing feasibility study is expected to be completed sometime before the year 2020, with an updated mineral reserve study on the value of said moose dung due out when it fully decomposes.
I am also pleased to announce that Rodinia was making payments on a potentially valuable pile of antelope dung located in Nevada but couldn't afford the cost of maintaining the antelope herd and had to stop feeding them. As a result, they paid over $3 million dollars and diluted their shares by over 2.5 million since 2009, but now have abandoned the pile in hopes of shinier turds elsewhere.
Furthermore, Rodinia is pleased to announce that they've cut the workforce on the ground in Argentina that was feeding the moose down to almost nothing, because honestly, how many people can it take to feed one moose. They're also pleased to announce that after completely destroying all chance of ever producing anything of value for shareholders, they've stopped taking managerial fees. Glad they've got our best interest in mind!
Ok, on a semi-serious note, I've got a question that anyone can answer. They plan to issue 5 million or so shares to pay some outstanding debt. They plan to sell them at $.11 or so. My question is, who is going to pay that much when you can buy shares on the open market for 6 to 7 cents? I guess what I'm wondering is, even though I don't believe in this company one bit anymore, is the market price going to jump to $.11 when these shares are issued? If so, I'll day-trade this worthless pile to get some of my money back. Please explain your response and document how you came to your conclusion if possible. I'd also like thoughts on what company might be interested in buying the shares and why they would do so in this situation, since again, they can buy 5 million shares quite easily for a 40% discount to that price.
GLTA finding shovels for all the animal droppings involved with Rodinia. :)