Acehigh, are you telling us you went to the RMG casino & put all your chips on one stock at .01c per share on one visit? Holy smoke, given that your figures translate as 10m shares you must now sit somewhere between JoJo Enterprises at 10.75m & John Della Bosca on 9.5m (both as per last years Annual Report) as our 19th or 20th biggest holder at the table.
I'm sure you regret your actions but I still think you'll be doing well eventually. I don't understand your bitterness towards current management. They seem to be the blokes who did the deal in Qld, Tassie and have managed to keep the money coming in the door so you stand a very good chance to recoup your bet (& walk away with a profit). I know you ticked off, but I don't see these guys have ripped off the company with huge salaries. As per the explanatory notes the issue of bonus shares etc offsets salaries which in real world terms aren't that high anyway . Kirtlan goes down from $150k to $120k, Rolly is about the same or slightly higher the next year on $230k I think & the other fellow (company secretary?) is on $36k. These are not huge salaries & don't even rate when compared to officials of the Health Services Union.
Many of us have invested (aka bet) significant sums on RMG & whilst it's easy to say it's a high risk/high reward strategy, that doesn't console you on the sleepless night you may experience. What I would say is that from your figures, it would appear your carry price is .01c (or there abouts) yes thats 100% from where we currently are, but it could also be a nano second or a couple of trades following a sniff of broadly god news. Keep the faith, don't throw the baby out with the bathwater which is easy to do when you're down in the dumps & who knows, maybe you'll be laughing sooner than you think. All the best to you Acehigh.
RMG Price at posting:
0.4¢ Sentiment: ST Buy Disclosure: Held
