Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Thanks Gloster, confusing this not knowing who, when, why and how much !!
This can only go one way, and that is a positive outcome. Mark Greenwood wouldn't have lumped in cash equating to 29% of the company, as a roll of the dice.
PLC's are a vehicle to get crowd funding. The funders are the shareholders. Mark Greenwood could easily get his money back many times over if they can sell a target mine has having mass potential and asking everyone to help fund the exploration. If the exploration finds nothing they can ask for more money. Whilst the shareholders are funding this, The board would be receiving a handsome salary. If they strike gold everyone wins big time. If they don't you lose, everything. Investors in RLD have been here before with the previous mine. I think this will be much of the same, lots of hype. Lots of cash injections, miserable outcome. But that's the gamble. It could go the other way. BUT ask yourself this. With gold at such a high market value at the moment. If there was a real likelihood of find a good seam of the yellow metal, don't you think someone would already be looking or people with much deeper pockets would be in the running to buy it.... From the way this has gone and the lack of shareholder information that has come out over the past few months, I really don't have much faith in this team. I actually wouldn't be shocked if someone was placed to hype this up and get everyone worked up about the RTO. Time will tell.
MarkLong
Exploration'S' NOT Exploration
1. All PLCs are the same, every single one of them. Shareholders are used to fund projects to make money. Some take a long time, some do not. As soon as RLD announced it's cash shell position, it was clear it was going into mining (never short term kind of industry) so all shareholders were aware since the start of the year.
2. A placing is inevital to complete the RTO, as we would have done DD, the BOD are aware of the 4 FOUR mines and their likely potential. Mark Greenwood as a shareholder will realise his input the same way we would. Unless am missing something? As easily as he gets it back, so can we.
3a. "If they strike gold everyone wins big time." You're right here. The risk which all investors should know and accept is 'IF'. I will not complain if it's 4 empty mines, I will hold myself responsible and review my risk appetite. Hold ME responsible.
3. Not all explorations are successful, RLD can easily remain an early stage explorer. Find something decent, sell or go the route of joint venture. We have FOUR mines, FOUR times the opportunity.
The reward is in the risk, shareholders who held till suspension have taken the biggest and initial risk. I hope they and myself included, see a decent reward in the coming future.
MarkLong, your clearly from your posts well informed on RLDs history, from your post, you see no good in this company, the board and their skills. If with what you've posted you are holding. Imo you need to have a word with yourself. Buying shares in companies your disappointed in is really something.
Marklong
"You have no faith in the team". Your words.
Why bother with the company at all.
Am no expert in mining but here's me thinking out loud.
1. The Brewer Mine, that a former miner gave up on and the American Government put back into private hands, now if it had gold why didn't the prev company develope and sell it.
Pancontinental Resources were super happy to have their offer accepted.
"We are thrilled to have been selected to explore the highly prospective former Brewer Gold Mine property on the gold-rich and underexplored Carolina Slate Belt in South Carolina."
"Underexplored" tells the same story many early stage explorers encounter.
Why was it abandoned by the first gold miner that had it, and why would a new one be excited to take it, when the last company found NOTHING. Check out Pancontinental and see how excited they are.
2. Tim CEO of Oriole Resources was once the Exploration Manager for Barrick Gold and while he was, he came across a Cameroon licence and had reviewed some of the assets of the then owner Stratex. He later said that he could have started a fresh company to go after that licence when Stratex gave up on it, instead took the offer to rebuild Oriole Resources in what could take some 5 years. Now Tim, did a great job with Reservoir Minerals which he sold for $360 Million to Nevsum (Canadian) who later went on to be bought for $1.5 Billion by Zijin (Chinese). Now why didn't Nevsum go after the mines Reservoir Min was working on and so on and so forth.
Again, it could turn out to be a lifestyle company, that's a risk holders are willing to take. If something is not good enough for you, sell it and move on.
One man's empty mine is another man's path to riches. Rings a bell about never giving up, give up and the gold could be one more shovel away.
Hey milli
I think most here knew what they were getting in to with RLD - I for one remain positive - its exciting stuff.
I've said thanks to munch / CC - and there are many great people here on this BB / oab/ flops/angel x/ JM ander
Nice to see some of the er.. ancient (time) holders come out and have a say - mostly positive..
Thought for the night winner is ..
MarkL
"Forget MMs crying in their beer, I had a stop loss set up to sell at .20, and it triggered today. really annoying,"
GLA
I’ve been in this from the Tanzanite days and lost money. I’ve bought more when prices were cheap and have made money. I bought more shares on the final day of trading as sometimes one has to go with their gut feeling. Luckily I have a lot of investments that make great profits and if I loose it all on this one I’ll be disappointed but I still think the answer is in the name Richland and I think that’s where we are heading. Written after a few bottles of champagne!!