Red Eagle Closes PP Soon and Hits the Ground Running
I wrote about Red Eagle Exploration recently and wanted to do a follow up. The company will be closing their private placement soon and all investors still have an opportunity to take part. The fund raising is via a Short Form Prospectus which means all investors may participate. For those interested, you should contact Patrick Balit directly at 1 (778) 372-2558. Expect the free trading shares to move higher as soon as the financing completes.
Red Eagle (R-T), the parent company and currently the owner of 90% of the shares in Red Eagle Exploration is one of the shining moments of the last 15 years. They succeeded in Colombia in spite of all of the trip-wires and mine fields in front of them during a period when 90% of the juniors in Colombia blew up. As a result, Red Eagle managed to pick up some giant in potential land packages which they spun off into Red Eagle Exploration. I went into the projects in detail in my prior piece.
With the same management team and being well financed after this placement closes, I expect big things out of Red Eagle Exploration. I know they plan on hitting the ground running. The Vetas property had $68 million spent on exploration already. With a current market cap of $55 million for XR-V, investors are literally getting the other two world-class projects for free. For the fans of silver, the Santa Ana silver project has had limited drilling but results of multi-kilo silver in multiple intercepts. The district contained the highest-grade silver mines in Colombian history.
The placement closes soon and drilling will commence shortly thereafter. Expect a slew of results for months. The only thing I would like to see the company do is do a roll-back and get the number of shares below the nosebleed level. I’m a pilot and I get nosebleeds above 20,000 feet or 150 million shares.
Red Eagle Exploration is an advertiser and I am participating in the private placement. Naturally I am biased and as always, you are responsible for your own investment decisions.
Red Eagle Exploration