The guys a legend, page-55

Yes MLX does have a first right of refusal for all of RNI's tenement if RNI wants to sell, but only 1 of the companies-to-be after the split will be able to exercise it. That asset will have to be handed to either the gold co or the base metal co OR maybe it will be cancelled.

MLX does not hold a sizable percentage ownership of RNI - 25m - but once it transfer title of Chunderloo to RNI it will have a total of 50m. It's about a year since the deal was struck and still there has been no share issue for Chunderloo. There must be a problem!

Anyway, back to Mr Fotios; I was very surprised to read about his proposed investment. I have no surprise about his interest; the surprise came from the BoD and the major shareholders letting him in. I know that he has his own geos and drilling rigs, but I hope that did not sway things as it would give him unwanted influence imo. My HOR experience makes me very wary of him, especially if he contracts to drill etc for the company.

My preference is to see him not come in, but if he does then with no strings to apply - just a flat 7% and no influence, at least none by himself.