Current projects have not attracted any interest for many years. New management now have there feet under the desk and need to start thinking about a new strategy. Can’t continue to fund these projects with a $4m market cap. Sell up and find something new IMO. They should be able to update the scoping study for the new resource which is a good time to look for a buyer and cash out. If they can cash out of all projects for around 10m in cash then they have a good chance of rewarding shareholders in the long term
Ann: Redmoor 2018 Drilling Concludes with Exceptional Results, page-4
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