RAMcap Ltd letter, page-95

How smart is smart money? They raised mega millions in past CR at much higher prices. How smart was the smart money then. Perhaps at this stage when no one wants to put money in it is really the time to have done it. Troy has reduced debt to a reasonably low level. If someone came in now they could be doing a lot better than in any of the past CR. They are all chicken all of a sudden.
Mining companies starting out raise millions with perhaps no great chance of ever mining. Here we have a company with a great working mine plant, producing a reasonable amount of gold with pretty good prospects of finding more gold and a very prospective acreage to explore but no smart investors.
Troy may not make it but if doesn't it will probably be due to a measly few million it didn't raise. I think it will get through. I really hope it does for all our good.