Sad to be frank but seems the support for RMI is not as strong as it seems. Huge dumper can be seen at $0.062 which can cause major problem. Also it really depends on how much traders expect this share to go up. Current fair value of this share is around $0.05, can worked out using what they have over the number of shares but the concern is its potential. Its ore mining dream is over with the bad results they got, the nickle future also doesnt look that bright either. Even assuming it did sign up some contracts with the chinese, how high can this share go? Answer is probably no more than $0.15. YOu would expect some results no matter what type of contract you sign. Problem is where are they going to get the goods? PNG is not an easy place to do mining and to come up with that much quantities of nickle is not easy. Contract and negotiation is great but its what RMI can produce matches with what the supplier will pay that counts. I got mine share at $0.05, dont get me wrong but i would expect many traders to avg up when they bought at $0.1 to bail out around $0.06 and above. Good luck to holders. You probably will need it.
RMI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
