whatsup on todays , page-21

Had a look through RNI after seeing it has acquired the fortnum project from Grosvenor. 90mil MC! Have to be kidding me. Unfortunately you all need to go through the history of the project before getting to carried away. 10mil capex to production will not happen, for 10mil you will maybe if your lucky, refurbish the plant on the cheap. To restart mining, 10mil is dreaming. The Yarloweelor resource... Look into why Gleneagle Gold ran into troubles. Brokers flogging a dream to unknowing indiviuals. Horshoe okay, long haul back to the plant though, the other satelite deposits are all over the place though.

Perhaps consider why it took so many years for Grosvenor to offload the assets.. Nobody wanted them at such a high price! Or why a $20billion hedge fund, a substantial SH in RNI wanted no part in providing a loan to refurbish the plant..

I understand the RNI management appear to be accomplished and this certainly counts for something, but certainly not a 60 odd million preumium above an expensive acquisition. Could speculation associated with the dolgunna tenements being adjacent to Sanfdfire account for the premium? Have a look at the gravity and elector mag data, nothing comparable in my opinnion (not a geo though).

Compare the Fortnum acquisition to Reed Resources purchase of Mercator Gold's old project, (which I also consider expensive,) although looks very cheap in comparison to the 35mil for Fortnum, let alone the 90mil MC assigned to RNI post the transaction.

I know most are not going to like my opinnion, and in fairness I have only had a preliminary look at RNI, although I was fairly well aquainted with their new asset. Be thorough and do your own research, beyond the RNI presentation slides.