Riva Resources Limited (RIR)
Riva Resources Limited (RIR)
Riva Resources Limited (RIR, formerly Dragon Energy Limited) is a mineral exploration company with projects located in Western Australia. RIR's flagship project is the Tabac Cobalt-Gold Project. RIR also has a portfolio of exploration tenements with numerous multi-commodity targets, including Fe, Mn, Au and base metals in Western Australia.
Market Index has RIR listed as 1.8 billion shares on issue can you double check your source?
RIR is a nearology play with VIC and PGM which are all close to the CLQ's Cobalt tenement.
Personally I prefer RIR's tenement to VIC's.
FWIW there is always an alternative POV: ASX website & RIR recent presentation shows that close to 3 billion shares are currently on issue with 1 billion escrowed.
Maybe in light of the limited amount of historical volume turnover could be a good sign?
Yet 2.8 billion plus is one hell of a lot of shares on issue! only to be added to by 1 billion!
They are about to change names to Hylea Metals Limited, but I doubt this will effect a reduction of share issue.
Also I wouldn't put too much faith in an historical Stan (not Harvey!) Weinstein analysis, I don't know how relevant past company activities are to current activities and price action.
Can't stop thinking about the 3.8 billion shares out there, what would a consolidation look like 3.2:1 to bring it line with their tenement contemporaries?