RE:RE:RE:Can they get rid of the mechanical agitators?What is "agitating" is: the fact that Davis is really only a feedstock partner and although a 45 per cent "partner" in Greeneville brings nothing to the table for the engineering of module one. Davis has a wildly profitable metal recycling business presently and will probably let RGX limp along as long as it takes. He doesn't even start to get profits until the SECOND module is running at 2.5. HE has nothing to lose.....Sure he spent money to expand, but perhaps the expansion was also beneficial to his core business operation.
Also "agitating" is that 32000 pounds running for one shift produced only 30 ounces of pgm. (perhaps some was still being dried etc. but still very low amount. ) By the way, if it had of been runnning at 1.25 tons it would have been operating around 13 days with feedstock. They must have been using VERY low value cc's as to get to 25 milion as stated for one module, it would have to mean that one shift would produce around a million dollars a month. If you calculated out with 90 percent recoveries the cc's would have to have 1200 ppm per ton of pgm. (1ppm equals one gram, as per a presentation by Weatherbee in March. Many shareholders were told that higher value feedstock was being put through. WE want clarification.
Also" agitating "is shareholders have ponied up 3 times for an RO. Many were under the assumption that the last RO was used specifically for feedstock and to get us over the finish line. A fair amount of this last raise was put to the mining assets in Spain. Ask management yourself, how much.....Perhaps with this lull in the workings at Greeneville they can hunt down Cory Hunt and get him to pay the 800k Iron Bull owes us, and work on getting rid of those Spain assets also,which are costing RGX a cash compromised company, an ongoing small fortune.....
Also "agitating", is that you hear Weatherbee saying in the last presentation that the module is operational. They successfully paired the chemistry and physics. ( for 32000 pounds last month, yet the plant was commissioned April 2023) NOT quite!!!
Comstock-LODE the other RBMG stock has just commissioned their extraction process and first revenues. It's stock price is on a tear. Time for RGX to give up the reins and allow someone larger (predatory) to come in and take this thing to success. The RO funds will not be enough for module one to succeed. Our present management has a history of NOT anticipating what COULD go wrong, and when it does go wrong they seem to not forward think to make preparations in advance to repair, or modify.... (They seem to live in a fantasy world, with international expansion and NDA's being triggered.......).
This webinar coming up, ask the CEO the hard quesitons. Send them in beforehand. Doubt if they will be answered. The webinar can not be any more nauseating than the last one.......How about Purdy and Bob Fair the people closest to the workings of module one, participate and explain, as they will in all likelihood have the time, with the module not operational..........imho