rjjjepst / RGW
I bailed on this situation a while back, and all I've seen since are the NRs. So I may not be entirely up to speed -- bear that in mind with what follows:
Ridgeway came to my attention three or four years ago, when a friend who knew someone indicated that the geology was for sure for real, and huge. The friend didn't have a brokerage account, and wanted me to buy stock for him. Fine, he's over 21, so I got him some, but also did a bit of DD. Called the company, and let me tell you, I was wholly unimpressed. The IR guy I spoke to, who also happened to be a director, was unable to answer questions I considered absolutely basic. Bad sign.
Despite knowing better, I went in on a small position, which, as prices declined, grew. Keep in mind, I knew the resource was there -- it is an enormous find of CO2, and the helium is probably just as valuable. But it was my first experience with management that, shall we say, was not up to snuff.
Take a look at the stock options they've given themselves; take a look at how they have been repriced over the last three years. Compare that to the stock chart. I don't want to say anything actionable about their motivation, but I do think that certain uncharitable conclusions can be drawn.
All I can say is be very, very careful with this one.
FWIW. |
