Food for thought.
I stole this post from the Yahoo RYO chat (link at bottom). Seelark raises some interesting thoughts:
<<I wonder:
1. How RYO cannot be in default of covenants of its Sr. Notes, considering its present financial situation.
2. Why RYO expects to find a merger or partnership candidate when it has tried for months without success, according to the street, to find such a merger or partnership candidate - and how can it obtain the consent of existing note holders to obtain additional debt even if such additional financing were available - any why BC would take on the financial and political risk of financing the project when the project can be completed by the debt-holders, even if RYO is liquidated.
3. Why are companies failing to merge or JV with RYO on the Keness project if it offers such good economics as professed by RYO.
4. How is it possible that RYO not anticipate the substantial capital cost over-run at the time recently when it took on additional debt to "finish the project and provide funds for "start up" unless RYO has not been forthright with the bond holders and its shareholders or is not guilty of gross mismanagment.
5. Why Peggy keeps insisting that the stock is undervalued (from the time it was over $4/share), yet RYO cannot obtain additional equity funding even at this level as evidenced by the failure to obtain equity financing with Toronto-based First Marathon Securities Ltd. And if the stock is undervalued, why do most of the Canadian analysts continue to pan the stock and major institutions reportedly are heavily shorting the stock.
6. Why RYO has still not reported its financials.
7. Why G. Eacott is not more positive on the viability of the company, if the liklihood of additional funding is promising.
8. Why does RYO expect to receive instant cash flow when the mine is completed, if indeed it is completed, when it usually takes months to iron out the bugs associated with "start up" before steady state is achieved - even assuming the mine will produce as contemplated.
7. Why are so many posters visiting here and panning RYO, even though they admitting do not own the stock.
BUT MOST OF ALL, I wonder why RYO is not making new lows with the large volume being traded, notwithstanding the above.>>
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