Red Eagle Mining Corp RDEMF

Metals & Mining Gold

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 WileyCyteon Jul 01, 2017 12:18am

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Post# 26426705

RE:RE:RE:RE:RE:Does not look to great for the rights offering

I haven't been following XR until very recently. All I know is that the RO mentioned $10 mil of the proposed $46 mil was earmarked for drilling. So make of that what you will.

Perhaps they are getting nervous the SR reserves are not what they orginally thought? Or perhaps the opposite is true and there have been indications more could be there? The latter seems highly unlikely. This company was desperate for any good piece of news they could muster this week. If that $10 million was to confirm some beauty new reserves, they sure as sh&t would have mentioned as much in NR's.

I believe the continued drilling was always part of the game plan when I think back to RE's various prospectuses etc. And I don't think the large-ish amount they hoped to spend on drilling is of any concern. Any gold mine that makes it to production is going to include ongoing drilling as part of its strategy to extend the life of the facility.

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