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New uranium play triples on debut

Paul Garvey
Thursday, 7 June 2007

NEWCOMER RMA Energy expects to be drilling within 48 hours following its spectacular listing on the Australian Securities Exchange this morning.


RMA, whose board features ex-Aztec Resources managing director Peter Bilbe in a non-executive position, opened this morning at 80c, up from its 25c issue price.

In early afternoon trade, the company was changing hands at 71c.

RMA's $4.5 million offer closed fully subscribed after being open less than a week.

Private prospector Terry Byrt will chair RMA, while Clive Triplett and Wilson Starr will also serve as executives. Joining Bilbe in a non-executive capacity is Sino Gas & Energy chairman Geoff Clifford.

The company will use an RC rig it has secured to define and prove up JORC-compliant resources at the McCauley Creek, Coane Range and Clifffdale Creek uranium projects in Queensland.

"We have the dongers on site and roads built ready for drilling; we're ready to go once we list today," Byrt said ahead of the opening.

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