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Red Eagle Mining Corp RDEMF

Red Eagle Mining Corp is a Canada-based development-stage company. It is engaged in the exploration and development of mineral properties. Geographically it operates in the countries of Canada and Colombia. It focuses on building shareholder value through discovering and developing gold projects with low costs and low technical risks in Colombia. The company primarily explores for Gold and owns interests in the Santa Rosa Gold Project located in Antioquia, Colombia covering an area of approximately 10,000 hectares.


GREY:RDEMF - Post by User

Bullboard Posts
Comment by stazon Feb 01, 2017 7:21pm
226 Views
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.
Bullboard Posts