I think RES is priced accordingly or maybe overpriced until coal settles and proves itself....
debt, highly paid directors and still need to secure finance and then build the mine.... $52M MC
Look at IKW.AX across from Waterberg in Kwazulu Natal..
$0 debt, $2m cash, directors not taking salary for $$$ preservation, 294Mt JORC resource, 91% Share registry top 20 (EXTREMELY TIGHTLY HELD - I know majority of top shareholders came through EUROZ and won't sell... directors own most so best interest to perform..
MINE IS BUILT. All construction was done when they raised $30M at 20c a share in 2011/2012. The people who got in at IPO are the ones hurting..... Currently in process of CHOOSING the mine contractor and off-take agreement .... Noted in quarterly inside 3 months they will be cash producing... Net Assets are 12M and they have written down 9M on exploration because whats coal in the ground worth = almost nothing...
8 million market cap and not much on sell side.
UNV also a good south african produce 2 mines cash producing recent offers 25c and trading at 14c (I dont own unv)...
