RMX 11.1% 0.8¢ red mountain mining limited

ann out, page-16

  1. 34,916 Posts.
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    I am actually suprised as management seem to have their heads screwed on straight and do things right by shareholders..very rare.

    Bit of a clayton's offer I'm afraid. Really the winners are Patto's clients but that's the way it always works. Why do I say this? Well they're offering $700K of shares to current shareholders. If it's over-subscribed they will par down what you get. As of last annual report there were around 610 shareholders. Due to the recent trader activity I'd say there's a few more now. But let's work off that 610. $700K divided by 610 = $1147. Of course not everyone will apply but that's negated by the extra investors. I reckon we'll be lucky to get $3-$4K each. On that basis I recommend asking for the full $15K (if you believe in RMXs future). Better than nothing but pays to be a Patto's client as they will be getting much more.
 
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