How is not one else interested in this. I usually don't like to follow the top stocks on HC but this is been one wild ride and I feel its just getting started. Would be perfect if not for the huge amount of shares issued but more high grades found today. More hope of becoming something substantial with each announcement and they are fully funded for a good long while so no more chance for a cap raising sting (which I was hit with). There is definitely opportunity with this stock but also risk but that's what trading is about right.
How is not one else interested in this. I usually don't like to follow the top stocks on HC but this is been one wild ride and I feel its just getting started. Would be perfect if not for the huge amount of shares issued but more high grades found today. More hope of becoming something substantial with each announcement and they are not fully funded for a good long while so no more chance for a cap raising sting (which I was hit with). There is definitely opportunity with this stock but also risk but that's what trading is about right.
If they are "not fully funded " looks like they will indeed need a capital raising ?????
Red Valley Lithium Brines Project
Red Mountain Mining Ltd (ASX:RMX) advises that it has received laboratory results from drilling operations
at its Red Valley Lithium Brines Project in western Utah, USA.
While anomalous levels of Lithium were present in brine samples for a reasonable portion of both hole 1
and hole 2, the Board has concluded that there wasinsufficient Lithium enrichment present in orderto justify
continued work at Red Valley. The Company will therefore not be proceeding with hole 3, and nor will it
proceed with its joint venture in respect of the Red Valley Lithium Brines Project, and no consideration
payments shall be made.
Director, Jeremy King, commented:
“Results at Red Valley are disappointing. Anomalous Lithium was present but not in quantities required for
commercial operations. In addition, it was not clear that the reservoir characteristics necessary for a Clayton
Valley style, Lithium brines operation are in place at Red Valley. We were always chasing a significant,
conventional Lithium brines operation, and consequently we have no choice but to cease work.”
Now with 2-3mi in cash >> @ current smashed market value around 4mill .... other asset is earn in DRC Cobalt play with with exploration average grade of Cobaltof between 1.6% and 2.9% and of Copper of 1.3% to 9.2%.....
HIGH risk here but interesting if it's a good swing trade on listing value+Cu/co upside ...
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Wishing I took some when the blood was on the floor .... easy 80%-100% return for what just over couple weeks to max 4-5 weeks hold ...
HIGH RISK -HIGH REWARD
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
RMX - Red Mountain Mining On A Roll
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Originally Posted by tosspot
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