Wednesday, August 10, 2022

RIO2 financials lack much

$3.4m (USD) was pissed away in 3 months and cash burn is on a continuous rise. Fenix is now capped past $64m (USD) and there isn't even a permit in place for God's sake. This enterprise HAS NOT disclosed in the latest financials either the Wheaton penalty terms nor stated the very certain fact that the penalty will come into existence in less than a year. That will cost something around $700k in bottom line bucks per month. 2 years in duration and that liability is a whooping $35m. We are onto month 11 remaining before that penalty is imposed and that makes it a current liability. Onerous penalty terms were not disclosed in the financials, nor their notes. The red flags are at full mast and in growing number for this co.
SOMEBODY knew enough to short right before the news hit. Very brave or something else? Not material in the big scheme of things one supposes. Pfffft.
$RIO.V RIO2 LIMITED 132,568 -237,316 30 Jul 2022
$RIO.V RIO2 LIMITED 369,884 242,529 14 Jul 2022
House Bought $Val Ave Sold $Val Ave Net $Net
1 Anonymous 3,736,317 571,324 0.153 5,684,434 882,338 0.155 -1,948,117 311,014
9 BMO Nesbitt 671,700 107,344 0.16 1,208,300 189,875 0.157 -536,600 82,531
143 Pershing 0 240,000 33,700 0.14 -240,000 33,700
Anonymous has been responsible for 3.2m net sales in the past month. That is almost exactly half of sales volume for the period. RBC and CIBC are top net buyers.

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