You're spot on Ace re shareholding but not too sure about the merger speculation. From the last published annual accounts, Holloman have 60 million RMG shares which represent 11.71% where as they have 6,833,333 ADD shares being 3.72% and they have a director on both boards. I'd be interested to know what other miners they have a holding in, as it might indicate whether or not they plan to use RMG/ADD as their main vehicle for growth in Aus.