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"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.
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.
Potential Target 1: Brewer Gold Mine South Carolina
"The purpose of this website is twofold: first, to keep the public informed of the hard work being done to protect human health and the environment; and second, to provide information to parties interested and capable of returning the site to beneficial use"
The former Brewer gold mine produced 187k oz Au from 1985-93 and has been an EPA Superfund site controlled by the federal and state governments for 25 years
The government plans to put Brewer back into private hands in 2019
Jefferson Gold Project surrounds Brewer
Highlights from the rns:
" The Potential RTO Transaction involves the acquisition of majority interests in, and operatorship of, four gold exploration projects in North and South Carolina in the United States located within the wider Carolina Super Terrane (formerly the 'Carolina Slate Belt'), which i) also hosts the producing Haile Gold Mine owned by OceanaGold Corporation (TSX/ASX: OGC) who acquired the Haile Gold Mine be acquiring Romarco Minerals Inc. in 2015 for C$856M; and ii) was the site of the first documented gold discovery in the USA in 1799, with North Carolina being the biggest gold producing state until discovery of the Californian gold deposits."
Highlights from the article:
"Strategically located in the Carolina Slate Belt, the Jefferson Gold Project is on the northeastern edge of two former gold mines – Brewer and Ridgeway gold mines and 15 km from OceanaGold’s producing Haile mine."
So with 2 in the North and 2 in the South, what if
Brewer and Ridgeway Gold Mines are the 2 in the SOUTH CAROLINA that the government are looking to privatise. 2 down 2 to go?
This is just me searching online, no proof or evidence that this is it.
"The Potential RTO Transaction involves the acquisition of majority interests in, and operatorship of, four gold exploration projects in North and South Carolina in the United States located within the wider Carolina Super Terrane (formerly the 'Carolina Slate Belt'), which i) also hosts the producing Haile Gold Mine owned by OceanaGold Corporation (TSX/ASX: OGC) who acquired the Haile Gold Mine be acquiring Romarco Minerals Inc. in 2015 for C$856M; and ii) was the site of the first documented gold discovery in the USA in 1799, with North Carolina being the biggest gold producing state until discovery of the Californian gold deposits."
That was fun.
Nice correction, long may this momentum continue, however long we've got left.
I genuinely don't know when the deadline is anymore. I thought it was the 2nd, Gloster clarified it to be today. So maybe tomorrow morn or eve.
Another 20% plus before announcement would be nice.
Guiness will do me good tonight.
Still amused by this,
Total sells near £20k, total buys around £4k
Some may say the £40k sell yesterday, but what about the massive buys weeks ago, price still dropped then.
All in all, the end game will tell the real story. Current sp means nothing, but it would be better to have seen near 0.40 before RTO
Sorry to hear that 13martyn13.
I've had similar red stories, and it does force one to sit down and dwell.
And yes, a significant holder doesn't guarantee anything, trust me, I've been there too. Another one was the Sheik.
All in all, if anyone has any doubts and would struggle personally and mentally with this going all tits up, Monday coming may be your last chance to cash up.
I recall something in the nature of a pandemic, forcing countries to lockdown not too long ago.
Meanwhile as we know FACT: Greenwood has been buying.
The risk lies in not knowing when, what and how, this is the typical story for cash shells so if one is not happy with such, there's plenty of things to spend your money on.
The CEO Anthony Brooke is BUYING.
The Biggest shareholder Mark Mitchell Greenwood is BUYING and now maxed out.
All within recent weeks.
Need I say more?
Your selling because, they are buying?
What more do you need regarding RLD......
Going on what you've said multiple times, if they let this go, whatever is holding it back,it will fly.
I can't say it was oversold, because they dropped and dropped the price on massive buys. Senseless.
And yes, the sp has been held back.
Good to have you back.
You weren't asking for much there tbh and the delay bit got to me. I emailed them about it in time but yh, Hope is all that's left.
I need these Bangkok Bad Boys to do something.
Hang in there Countingcards,
It's painful, especially watching so many missed opportunities that won't return. It should have happened ages ago, keep in mind who originally put sand in the fire, our pal Peter.
I now believe the Doctor is in charge, and you know anything bio takes a while longer. No kidding mate, because of all that, I have had nothing to use over this period. I feel like a golfer, on a golf course with no balls (my balls are just fine btw).
Hang in there, take a breather and I HOPE you change your mind, your knowledge and contributions have always been appreciated by all.