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@newswire Red Eagle Mining declares commercial production at the San Ramon Gold Mine and reports 2016 financial results @newswire/red-eagle-mining-declares-commercial-production-at $RDEMF $R and former COO Bob Bell retires from management, stays on the board
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@Chucklee Any opinions on the SP?
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@terrysteen I declare that I would like to know what they got for production?? info available? anyone?
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@jhm "23,666 tonnes of ore were processed during March (760 tonnes per day). Higher grade ore was blended with lower grade stockpiles to ensure operating efficiency throughout the month. 1,758 ounces of gold were produced during March." from the NR
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@terrysteen Thanks Bud! as I thought. Still gonna hold!
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@jhm Yup same here. I'll be watching operational costs closely. And hopefully continuing newsflow with regards to exploration. "Exploration drilling is currently underway testing the eastern extent of the San Ramon Gold Deposit and multiple targets approximately 3 kilometres to the west of the processing facility." http://cdn.ceo.ca/1cen94m-Slide_16.png+
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@terrysteen Double capacity at the mill, all good!
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@MadeOfRubber I see this as a long term hold personally but hey, what do I know. I think it needs new hands to come in and help lift the share price, this NR should help. I've been adding on the dips. This mgmt team is awesome.
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@stateside @HRA-Coffin $RLG - Tom has another idea ; ie; hitting that target. Give him a call if you have time.
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wannabeinvestor I have been a long term holder, bought in at low twenties a few years ago. What's happening now is puzzling. The market does not seem to car about small producers. It's dirt cheap compared to Rogx and Ric.
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@MadeOfRubber Perhaps its too early and we are being impatient. With this higher $gold price, really, this is more profit for $R so I don't understand either. Saying that when gold tanked, $R kept consistent so perhaps this is just karma. It will be interesting to watch the next couple of months as we enter traditional gold season.
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@Chucklee WTF is going on today?
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wannabeinvestor Looks similar to what's been happening with CNL lately
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@Wannabeinvestor Funny how $gold has arguably broken it's long term trend-line but several juniors are trading as if POG's gonna crash. $R $KDX $TGZ $CNL $AKG. Some may have (perceived) operational issues, e.g. AKG, but others seem to be doing OK. This $GDXJ business weighing on these names?
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@MadeOfRubber It's triggering stop losses too
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@Wannabeinvestor It's hard not to accumulate quality plays like $KDX $R $TGZ and $CNL here.
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@enviro111 Maybe the issue is Columbia? I think it is back to being a narcotics state again?
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@Wannabeinvestor fair bit of accumulation on the chart despite the sell-off -- that's a good omen, saw both $MARL and $ROGX rocket higher under similar chart set-up
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@MadeOfRubber Buying the dips as we speak
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@jhm Strong support at 0.63 December lows.
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@MadeOfRubber i picked up about 5000 shares, i consider this a discount
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@Wannabeinvestor Bought 10k at 0.67
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@Wannabeinvestor Investors dislike Colombia for now, I am certain of this. Many thanks, managed to add to my R.TO pile at 0.64.
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@Markus $R Nice rebound intraday with Vol. now
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@MadeOfRubber @schischi My interest is peaked. Who is the poster and how credible is he? Doubt it's a merger, but I could see some positive drilling results.
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@Markus $R from IKN: If you knew what I knew about Red Eagle Mining (R.to)... ...you'd be buying the stock today, too. PS: To answer a couple of mails and add to the cryptic feel, it's something good that's going to happen at the mine next week.
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@Wannabeinvestor He's too smart to brag about knowledge of inside information (such as a takeover or Q1 results), so I would think it has to do with drilling/ discovery.
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@Chase I'm not sure if its coincidence but Jeb sent out an email yesterday about $AGD while scrolling through it I was reminded of $R http://goldstocktrades.com/blog/2017/04/20/in-colombias-antioquia-province-gold-mines-can-be-permitted-in-under-2-years/
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@Wannabeinvestor Lots of accumulation taking place during this correction. This is a good sign. I dare say this will bounce, shortly. http://stockcharts.com/c-sc/sc?s=R.TO&p=D&yr=1&mn=0&dy=0&i=t28142797933&r=1492772549301
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@Wannabeinvestor So it is bouncing, 0.76, nice.
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@jhm Nice job yesterday grabbing shares at the bottom @Wannabeinvestor
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@MadeOfRubber It's good to see. It didn't make sense to begin with and crossing down the SMA's is a dangerous place to be.
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@MadeOfRubber On second thought I understand sentiment in Columbia is poor and there are some issues to work out but $R has done a stand up job from day one so that's what I meant by it not making sense.
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@BruceWayne "On April 10, Red Eagle Mining Corp. (TSX: R) (OTCQX: RDEMF) (BOLIVIANA: R) announced that it declared commercial production at its San Ramon mine in Antioquia, Colombia, on March 31." SO why are they issuing another news release today stating the same thing? $R
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@Quantum @BruceWayne I was confused too. The press release seems to be a promotion put out by streetwise reports, not $r.
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@Chucklee Yes, weird. Not sure what happened.
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@MadeOfRubber Hope this isn't what the ikn blog was referring too.. kinda weak
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@Newton $R was at #MIF back in January and they had printout of report on site visit from both Gwen and Otto. Interesting to compare the two of them, fwiw. Both were positive, as was my impression from person I talked to from company.
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@Markus Anybody have seen this ? Red Eagle Mining files preliminary prospectus 2017-04-25 19:04 ET - News Release Mr. Patrick Balit reports $R RED EAGLE MINING FILES PRELIMINARY BASE SHELF PROSPECTUS Red Eagle Mining Corp. has filed a shelf prospectus for up to $100-million with the securities regulatory authorities in each of the provinces of Canada, other than Quebec. The prospectus will allow Red Eagle Mining to offer up to an aggregate initial offering price of $100-million of certain common shares, convertible securities or combination of such securities in amounts, at prices and on terms to be determined based on market conditions over the 25-month period following the date Red Eagle Mining obtains regulatory approval for the prospectus. The net proceeds from the sale of any securities will be used for purposes as set out in the applicable prospectus supplement. $R
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@BS Is that the good news Otto IKN was talking about? $r red eagle
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@Chucklee Can someone explain to me how this is good news? I'm thinking in terms of dilution of shares / owner's equity.
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@BS Depends on what they do with the funds... And so far they aren't raising money, just putting in the paperwork that allows them to do so. Wonder what's going on behind the scenes.
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wannabeinvestor Looks to me like (i) they will raise funds to invest in a project that would complement the existing mine, (ii) undertake a completely new exploration/ development project, (iii) to create a poison pill of sorts to fend off unwanted acquirers or (iv) they have problems with the mine which require fresh capital? The last one looks least likely, otherwise they would have reported about issues. I think $R has a very capable management team whose greatest talent seems to be development. The CEO is young, surely he wants to do more than just a sub-100k oz producer. Does not look like it's going to be picked off any time soon unless the shelf-registration really is meant to deter an unwanted suitor.
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@jhm I think none of the above, and that this is laying the groundwork for raising just-in-case money if management thinks they need it. Debt repayments to Orion begin in May. The last MD&A stated that the company believes they have enough cash and cash equivalents to service the credit and continue operating for the next 12 months, barring any unforseen complications.
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@cole119 Let's see how Otto comments on it.
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Lolorenzo Hey guys, @newager23 (Don Durrett from www.goldstockdata.com) spoke to Red Eagle $R today. Here is what he learnt from the management and shared on the #GoldStockData's forum: "This is not for share dilution, but debt. They are going to use it to roll-over debt at a much lower interest rate, cutting their interest payments in half. So, it’s actually perhaps positive. I asked him if their strategy was to limit future dilution of Red Eagle Mining and grow cash, and he said “Yes, that is our strategy. 100 percent”. So, we’ll see if the dilute going forward. I will be calling him back if they do dilute significantly. We also spoke about Red Eagle Exploration. He said that their banker Orion, would not allow an acquisition, which is the reason they did not do a merger for CB Gold.”
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@Chucklee Does anyone here think that Otto is just trying to unload? Blahh. I was really hoping we would be moving in a positive direction right now. Oh well... Sorry just frustrated.
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Sweetlove Chuckee, Look at the gold mining shares, all looking horrible. Whatever you release under current scenario, market will ignore it, unless something really outstanding. R will do well but patience needed.
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