GREY:RDEMF - Post by User
Comment by
stazon Feb 01, 2017 7:21pm
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Post# 25786457
RE:Shareprice???????
RE:Shareprice???????
20M+ new shares(~10% of SO) at $0.75 , what would you expect? There was no explicit indication in the NRs but I assume it's CAD, not US. Company needs cash, sure. According to the NR on Jan.23: "As at December 31, 2016, Red Eagle Mining held $4 million in cash and is managing working capital while advancing to positive cash flow in the coming months." That's a little bit tight, so $15M-17M new cash should help to get through the start of commercial production planned at the end of Q1. Simple arithmetic gives ~$0.78 as an adjusted sp based on the closing price of $0.86.