RE:RE:RE:RE:RE:Overvalued?Best source of information is from the company itself at this point.
But to bring you up to speed as to why the stock has the price it does right now. The CEO, Mark Shelby, has been consistent with under promising and over delivering. He has been working hard to make sure that investors are kept up to date with new developments, and quickly making corrections when he sees false information being extracted from any of his comments.
In other words - he's been a decent human being, which is a rare thing in a CEO.
With the 30-35,000 ounces they are announcing, they are including the existing amount, but they are underpromising again, and likely only getting an estimate on the gold they can physically see. They have worked 60m3 into a structure that last week was 200m long, and adding another ~374m this week, at a height of 140m , and I didn't see the width, but likely around 100-200m or so. In those 60m3 they pulled out 27,000 ounces of gold. There's a lot of unexposed material, but no one knows for sure until it gets pulled out.
So - here's the speculation - they barely mined the structure and got 26,000 ounces out of it so far - what is the likelyhood that there is significantly more unexposed gold in that structure?
And that is why this stock is all over the place - no one here
really knows for sure if there is more than what Shelby is saying, but they will tell you they do and leave you guessing, until you panic at the slightest bit of uncertain news and dump your shares.
So - welcome to RNX. It's got a high upside and an honest CEO who is trying hard not to pump it up any higher than the facts support. Place your bet when your willing to.
Alkaline wrote: What exactly are you bitter about? Potential new investment probing the minds of investors in this company, but you choose to become emotional because I ASK if this is potentially overvalued? I will not stoop to your level as your username alone leads me to believe that you actually hold nothing but mining stocks. Perhaps you are afraid? Or perhaps you are uneducated and did not receive enough hugs from your mother. Either way, you made my choice for me. I shant be doing business on this board.