Robex Resources Inc V.RBX

So where did the money go?

[Tree2tree]

The issue is not a 10/1 split (which would not be necessary if RBX is as strong as they say it is).  The real issue is that RBX is bleeding cash and depending on borrowing just to stay in business.  Not to mention betting everything on a high-risk, low-value project.

Once again, RBX has reported an accounting profit when in reality they are losing money.  Cash is down, borrowing is up.  They are totally dependent on credit to stay alive.  Where did the so-called profit go?  You have to be sharp in reading the report to see through the shell game and find where the money went.  I don't have time now to make a detailed report.  But anybody thinking of owning RBX should know how to get that information.  And how to recognize the fake information that will be posted in response to this post.

[watchdogontario]

Had the company stayed the same without growth, and just maintained the Nampala mine until it eventually was not producing, there would have been no need to borrow money, but the company is ambitious and would like to grow, and also provide opportunity for the future, once Nampala is defunct. This, I understand, and have no issue with the loans, based on those facts, plus the apparently richer ore

[Tree2tree]

Watchdog, I agree with you in the sense that RBX was overvalued based on the likely profits from Nampala's depleted reserves.  So essentially, RBX has made a 'double or nothing' bet on the new project.  Which will it be, double or nothing?   Time will tell. Where I don't agree is that RBX's cash and loans are only going to the new project.  In fact

[ABDPhil]

@Watchdogontario: Regarding Nampala, this project will continue to do the expected job of generating profits in support of business growth. Even if Kiniero is now Robex's flagship project, it is not intended to replace the Nampala project.   Nampala will continue to renew its resources and deliver the goods for many years to come. Robex now has more than ~200 square kilometers of

[ernmes]

What I Inoticed is that DEBT increased by about $31 million and Equity increased by about $90 million after acquistion. That is what the difference between Quarter 3 and Quarter 4. Am I corrrect. Quater 4 is where consolidation first took place,