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1.7¢ red emperor resources nl

Validating ~$11M MC NOW, page-5

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3,149 Posts.

258

14/03/19

06:22

Post #: 37754905
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Originally posted by RussianRoolet: ↑

It appears general consensus that the SP will most likely land under cash on hand by ~20%.

I think the $6M speculated cash on hand right now is well overs given the extra drilling conducted and the testing that continues today and usual optimistic estimates.

To that end, I think it will more likely be ~$4.8M which is why I think the LSE opened up at 1/2 penny (~9/10 cent) but did rally to close higher.

I would expect that the SP will retrace to under 1 cent and then probably go sideways till news.

That is of course unless RMP, OEL and 88E decide to unplug and unabandon Winx immediately and continue drilling right down to Puntland.

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so true, and this has indeed been one holy disaster.

RMP Price at posting: 2.1¢ Sentiment: Sell Disclosure: Not Held
1 Upvote

0 Great analysis

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