IMO the current MC of $12m is the market saying that Wowo won't get up - but with a v. small 'just in case' premium.
So, any news or firm indication that Wowo will go ahead should cause the share price to move upwards towards the independent value that has previously been placed on the project (when nickel prices were lower than today), ie 10.7c++.
The presence of Sinom is obviously a positive, but it also probably means that the future of RMI lies in their hands -and of course there is no guarantee that their interests and those of RMI shareholders necessarily coincide.
So, it boils down to whether Wowo goes ahead in a manner that the board of RMI retain some control over the process. If that is yes, then this WILL be a multibagger of significant size. If not, then it is back to survival stations and wandering in the wilderness of other projects and possible acquisitions.
And, lets face it, as small shareholders we know none of the answers here - which means that it is just a punt!
GL to all holders - its an all or nothing bet for me on this one.
RMI Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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