RNX 0.00% 0.7¢ renegade exploration limited

Ann: Quarterly Activities & Cashflow Report, page-4

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  1. 17,111 Posts.
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    In recent years many millionaires are being made by buying assets that have been unnecessarily written down for a pittance and then reversing the write down once the asset is in new hands. It's an easy way to turn $1 million in cash into $30 to $300 million asset that can be leveraged.

    Waiting to see if it will happen to the Yukon given the threats and behind the scenes machinations. Of course when eye's are watching... there is always the potential of administration and a single-bidder-auction route to transfer the asset opaquely to a private company.

    But no shortage of options here with votes to block large dilutions ignored at the AGM with no explanation and a likely massive dilutions coming up for yet another project acquired based on a few surface rock chips, and given the reckless exploration spend; way above the $300k that was required to prove up the project model... potentially more shares to more crumbling cornerstones.

    Prudence, ability and competence writ large.
 
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