I agree. No one likes CR's...however at this end of town it's inevitable until the cash is rolling in. Most don't make it with majority of juniors (mining/energy) raising coin just to pay the wages. RLE on the cusp of a producing gas field. Will be plenty of interest from the bigger players moving fwd imo...
Prudent move by SB imo while we wait for reserve figures, pipeline approval, GSA's etc. Hard to get the best out of any business deals if low on cash and negotiating from weakened financial position.
$5M raised in a couple of days in a pretty crappy market with sophs not getting their fill. Good support at 10c to 10.5.
Onwards & upwards...glass half full here
RLE Price at posting:
11.0¢ Sentiment: None Disclosure: Held