OTCQX:RPMGD - Post by User
Comment by
Looking4Doubleson Sep 20, 2017 11:33am
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Post# 26719658
RE:RE:Precious Metals Summit - Video Presentation
RE:RE:Precious Metals Summit - Video PresentationAgree with your cash situation comment & reason I got out in the spring, when the results weren't matching his comments. I think the comment he made is really stretching the truth, like . . they probably have positive cash flow on the day the gold is sold. Bill isn't very credible to me after making 4-5 straight false comments.
For example, in the spring he said they needed to get to their commercial production level to be cash flow positive. Since then, we know they have had major operational problems (maintenance, leach pads, etc . . prompting a new mine mgr) which HAVE to be adding to their costs and shrinking their margins. He then just acknowledged the delay in commercial production to 2018
So HOW does he get cash flow positive by yr-end, when they won't be at commercial production levels til 2018 (and probably closer to their 2nd Qtr)? Does he plan to fire people to save money or what
Rye has a tendency to bounce around because of the recent optimism of the shareholders. Many have held for 5-8 years, so 16 cents to them looks like a train pulling out of the station. If I were you, I would lighten up some on bounces to 17-18 cents
Curtailing communications and updates is a VERY VERY NEGATIVE SIGN ! ! And, . . that is the key question now - Why would he do this ? I think he knows they are losing money, can't execute to plans and any comments will make future fund raising more difficult/costly
Bottom line - I had hoped to be getting back into Rye in this time period, but just can't until they can prove they can execute against their plans - they just keep sliding. I think we have 1 and probably 2 more bad quarters coming. If I am right and they have to get more money, this could go lower. (13-14?) And, . . yeah, at some point, I know I will just have to bite the bullet, accept some pain and get in
I just need to see some real numbers to know how much lower the profitability will be over time (it won't be what's in the original PEA) That was too rosy.