Red Eagle Mining Corp RDEMF

Metals & Mining Industrial Metals & Minerals

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.

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Red Eagle Mining Corp

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Comment by wiseyoungmanon Jun 30, 2017 11:27am

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Post# 26424178

RE:Does not look to great for the rights offering

Pipefighter,

Agree. I do not mean to upset folks, however this RO looks like a failure. Level 2 quotes do not show much buyer interest. The bridge loan arrangement from major shareholders is only an appearance to induce retail suckers to pump more money into the Company. They have the secured debt with all miining assets pledged.

However, receiving the ridiculous PR from the Company with mining pics of drilling etc. shows desperation. What about drilling San Ramon extension? Canada RIca or Rojo which was supposed to happen late last year?

The Company has one month of working capital without the RO. They won't get anywhere near $46MCND. As you say, even if major S/h pump money, ex the bridge loan, that is only about $8M CND.

If this thing goes to a Plan of Arrangement, I may get back in the new emerged Company.

GLTA.

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