GREY:RDEMF - Post by User
Comment by
WileyCyteon Jun 26, 2017 9:11pm
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Post# 26407756
RE:Rights offerings..
RE:Rights offerings..Point taken quicksilver545 but the problem here is that Red Eagle is not sitting on a 2 million oz property. Guidance for next year is 50k oz...and you can take that with a grain of salt as this company now has a track record of not meeting a single number in terms of operations.
I am not disagreeing with your assessment of RO's...just giving some perspective to the negativity surrounding today's news. And full disclosure I am a large position shareholder who lost big today on these idiots.
The problem with Red Eagle is that absolutely everything had to go right, given the relatively small reserves of gold this mine was set to produce, and nothing has. They have missed the mark now at every turn.
I don't think the company will collapse anytime soon because as you have pointed out, RO's are viewed favorably in many circles. But of the $46 million they want to raise, $30 million is destined for working capital?? Like wtf. Not a good sign. I don't see this stock at .50 cents again until Q3 2018...just my humble opinion. And that's if everything goes right. Again.