RHK - Red Hawk Mining

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.

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.

On August 7th, 2023, Flinders Mines Limited (FMS) changed its name and ASX code to Red Hawk Mining Limited (RHK).

Fortescue has entered a deal to acquire ASX-listed Red Hawk Mining for a cash consideration of $1.05 per share.


.
looks to open higher

$1.18 ... bidding war ?

On February 28th, 2025, Red Hawk Mining Limited (RHK) was removed from the ASX's Official List under Listing Rule 17.14,
following lodgement of the compulsory acquisition notice by FMG Pilbara Pty Ltd on 18 February 2025.