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Just a quick weekly chart update since it's been over 7 years since last post. Low volume stock but it was one of the better movers yesterday.
RHK - Red Hawk Mining
- Thread starter fryzie
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- 19 February 2016
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Thought I'd take a look here, but not really seeing anything interesting at these prices...
$8.5 million left in the bank as of December 31st
$85 million market cap.
1 shareholder holds over 50%
2 shareholders hold over 80%
3 shareholders hold over 85%
6 people are on the board (seems high for a junior explorer) and I can't tell if any of them have practical open cut iron experience.
I'm guessing all the value in the company is assigned to a big low grade iron deposit??? They also have some vanadium but looks like they farmed 99% of it out for at most $5 million. I can't really see what they are actually doing, just seem to be waiting around for money? Who's investing in 52% Iron right now (or ever)? I don't have anything much more intelligent to say here, just trying to understand why this company is worth $80 million rather than $20-40 million.
$8.5 million left in the bank as of December 31st
$85 million market cap.
1 shareholder holds over 50%
2 shareholders hold over 80%
3 shareholders hold over 85%
6 people are on the board (seems high for a junior explorer) and I can't tell if any of them have practical open cut iron experience.
I'm guessing all the value in the company is assigned to a big low grade iron deposit??? They also have some vanadium but looks like they farmed 99% of it out for at most $5 million. I can't really see what they are actually doing, just seem to be waiting around for money? Who's investing in 52% Iron right now (or ever)? I don't have anything much more intelligent to say here, just trying to understand why this company is worth $80 million rather than $20-40 million.
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On August 7th, 2023, Flinders Mines Limited (FMS) changed its name and ASX code to Red Hawk Mining Limited (RHK).
