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RTG 10.5¢

just raised all the money needed with funds.

  1. copperroad

    6,014 Posts.
    164
    On the TSX overnight - takehomes.
    There is a super smart move overnight. The company has just slotted home $12-$15m cash at 68c with the funds.
    They obviously understand bunawan and Mabilo. This gives the company all the money for Mabilo to go into production, the ongoing aggressive drilling of mabilo and bunawan. The stock can no longer have any funding questions left imo. It's fully funded. This placement is to the big boys, its not getting splattered into retailers. Its a private placement.
    All up, 134m shares on issue with approx $18m cash, market cap of approx $100m, fully funded to production, two high grade deposits open and drilling.
    The company should make an announcement pre market today.
    Personally very very happy that we have seriously derisked and stopped any funding doubters now. The company has clearly advanced enough to attract this sort of action. I have been saying that the funds are due around this point of time. Not bad considering the overall resource market.
    This brings the funds, they come with cred. Mabilo has its license lodged and Bunawan has turned out to be a starter project like Medusa. Im still expecting dollars on the stock as they ramp up in to stage 1 and 2 takes place this year. We may have seen out bottom with any luck. Please dyor.

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