Ann: Maronan Metals $15m IPO Update, page-34

RDM trading at a 30% discount to cash and shares held in MMA. Just for the market to assign fair value for cash and shares places RDM at 12c valuation. Current market cap is equivalent to MMA trading at 23c and that assigns no value to any of the RDM prospects.

Interesting to note that if MMA was to rise to 50c then MMA on just cash backing and MMA shares should be valued at 17c.

RDM is a sleeper on good drill results at Maronan and Winu.

I suppose what we do not want to see is a successful takeover of OZL by BHP because it may put at risk the OZL\RDM Alliance.