RE: Any rns now18 Mar 2019 18:19
My opinion : oversold and will bounce to around 1.2-1.5p within a few weeks, in anticipation of the next quarterly report and update (thats if no new news comes out in the meantime, then its new news dependent).
- its over 90% down from last weeks 7.5p high.
- its had over 780m in volume traded in 2 weeks, its busiest two weeks ever.
- it raised £2.8m in January at 2.8p and had AUD $4.45m, so cash total of around £5m for the quarter.
- If you minus the "Estimated cash outflows for next quarter" listed in the quarterly cash report of AUD $4.764m this will leave RMP today with around £2.5m in the bank (plus or minus - as the wells being P&A its possible they have lower real expenditure then planned - not having to flow test etc etc).
So at 0.625p / £3.25m mcap, take the cash out and do you really think the remaining assets that RMP currently have (including its tax rebates / the carried losses on its books etc) are only worth £700k?
- Yes alot of people lost money hare but also alot of people have made alot of money here, it goes both ways, even the placing holder had a chance to double their money.
- Yes i agree it will probably need a placing for any other project and if they didnt raise capital they would be putting the company in a very tight cash situation. (i say probably because a carried farm in would be unlikely or take ages given the drill result)
PS: Not ramping just trying to take a logical view on it.