RE: What do we make of it ?29 Nov 2024 13:57
This is just my personal opinion only, but I can not see how RRR can continue as a going concern if DRC money does not come in. Letβs face it, I agree with you Banbury, it does seem as far away than ever ! Red rock at the moment seem to have no source of income, which means they have to do placings just to keep the lights on. Looking at last accounts and going on that expenditure rate, RRR have to be in at least 7 million of debt ! Their Β£250k payment to POW is now way over due, which is not surprising because it does look like RRR do not have the cash to pay. There is also the fact that over Β£500k in CLNβs are also overdue, although these can and probably will be rolled over again.
Does the above sound like a company in a good place ? Sadly not to me ! Your thoughts Nike ?