i dont like the announcement..., page-19

It is very easy to have rigs before listing:

Notice all the boxes ticked? What price is she now?

For further evidence - check BOA tomorrow. LOL

Good luck fellas.

RMA more than triples on ASX debut
7-June-07 by Edited announcement

Shares in Perth-based RMA Energy Ltd, previously Ansett Energy Ltd, closed at 85 cents in its ASX debut, up 240 per cent from its issue price of 25 cents.

RMA Energy chairman Terry Byrt said in an announcement the company planned to commence drilling at its Queensland uranium and tin projects following today's listing.

The company also confirmed today that it had been released from a statement of claim by the administrators of Ansett Australia, over the use of its former name.

Ansett Resources and Industries Pty Ltd, RMA's major shareholder, Ansett Regional Airlines Pty Ltd, along with Mr Byrt and his associate Robert William Kirby, were facing legal action over alleged breaches of the Trade Marks and Trade Practices Acts.

The full text of a company announcement is pasted below:

RMA Energy closes up 340% on first day of trade

Western Australian based diversified resources company RMA Energy Ltd (ASX: RMT) had a successful first day trading on the Australian Stock Exchange (ASX) closing at .85c up 340% on its issue price of 25c.

The stock hit a high of .87c and there were more than 800,000 shares traded throughout the day.

Following its successful listing, RMA will now focus on exploration at its advanced Queensland projects. Drilling on one of the sites is expected to commence within the coming week.

The company has recently entered into an arrangement with a private company to secure exclusive use of a RC drill rig - which will ensure it has no delays due to drill rig shortages. It is expected that this rig will be used by the company for at least the next six months across its projects in Queensland.

The success of the listing follows the unprecedented demand the company experienced for its A$4.25m Initial Public Offering (IPO), which was closed within a week of opening.

The IPO, which opened on 9 May 2007 and closed on 16 May 2007, offered 17,000,000 Shares at an issue price of 25 cents each, to raise a total of $4.25 million. The IPO was fully subscribed.

The company's top 20 shareholders will own almost 80% of issued stock, with micro cap investment company Scintilla Capital also having a prominent position on the register.

RMA Energy Chairman Terry Byrt believes the success of the listing has buoyed the company ahead of its planned exploration program.

"We have been overwhelmed by the strong interest in our IPO and subsequent ASX listing," Mr Byrt said.

"The price the stock traded at indicates to us how highly regarded the company is in the investors eyes, while the low volumes is an indication of how many people are sticking with us so as to share in the vision we have for the company.

"Our projects are very advanced and we intend to waste no time in aggressively exploring these so as to further define mineralisation zones and prove up JORC compliant mineral resources.

"We have donger's on site and roads built ready for drilling; we are ready to go."

Upon listing RMA has acquired six strategic exploration projects in Queensland comprising the McCauley Creek, Cliffdale Creek, Emerald, Coane Range, Bulburrum and Moonie Projects. These Projects are prospective for tin, uranium and coal as well as a range of other minerals.

The Company will initially focus its exploration on further defining and proving up JORC compliant mineral resources at the McCauley Creek, Coane Range and Cliffdale Creek Projects. These Projects are each prospective for uranium with Coane Range also containing tin mineralisation that will be a key exploration focus for the Company. The tenements comprising the Bulburrum and Moonie coal projects are currently under application.

"I have spent many years acquiring these tenements and with the IPO funds we will see these tenements developed in line with their potential," Mr Byrt said.

"We know we have considerable work to do, however now that we are listed we plan to immediately commence work on these highly prospective projects."

In addition to the quality projects, RMA Energy has assembled a wellbalanced Board of Directors with wide experience in the development of mineral exploration projects.

The company will be chaired by private prospector Byrt, with the remainder of the board made up of executive directors Clive Triplett and Wilson Starr, with Sino Gas & Energy Ltd chairman Geoff Clifford and former Aztec Resources managing director Peter Bilbe serving in a non-executive capacity.

The Board believes that the Company is well placed to utilise these skills to enhance value for shareholders.

http://www.wabusinessnews.com.au/en-story/...es-on-ASX-debut