Hey there all on STT thread......my 1st post here (hope I make some sense).......but for those that like to play a serious underdog that just might be turning checkout RGL.
Tapping all time lows at this stage (unfortunately for holders)..............but.................year high daily volumes yesterday.........in fact highest ever by a long margin, so 'value buyers' are starting to appear imo........(gold player with multiple projects including some ground that might offer up future IOCG type resources in the famed 'Olympic' region)........and with recent 'musings' from US gold speccy's might be in for an interesting ride.
Non-ex director resigned recently..........who might replace him is unknown at this point, can they attract someone who will really turn things around? If so then catalyst for upside perhaps, I've seen numerous stocks gain considerably just by placing the right person in the drivers seat.
MCAP $4.0mill at 3.0-3.1c ish.........relatively low SOI (91.3mill) and T20 hold 64.4% with mgt holding 10%..........EVN is number one holder with 17.2%.
Trades infrequently on smallish volume (usually) so can move to cover a big spread on small trade vols.......one for those who can stomach such things I'd say especially seeing the current trend it's taking.........but sellers appear to be done at this point imo. SS K% has crossed D% on daily and is looking to do the same on weekly chart both from extremely oversold positions........
Looking at recent drill results they aren't spectacular by any stretch imo.....but there's some nice higher grade hits popping up here and there, and potential for a large system at Queen Lapage. Cutler prospect has some very decent to high grade hits: 10m @ 11gpt, 1m @ 69gpt Au for example and might offer some more, with follow-up RC and diamond drilling planned........most prospects appear to be at very early stages however.
$1.135 mill at bank at start of Q1 with $555K est. out this qtr.................so running low on cash will need to raise sometime in Q2 imo..................so caution and lots of it is the idea here, but I would anticipate that mgt will at least try to pull 'something' out news wise to at least attempt to bolster the price from current levels before looking to raise.
There's no doubt it's in a serious downtrend and unloved. But I find if you time them 'right' these types of stocks can offer some upside even if it is just a short term bounce initiated by 'value' buyers most of the time..........we'll find out I guess.
FWIW I don't currently hold any but I'm definitely watching.
Latest company update presentation for those looking for some extra info:
(20min delay)
