We haven't been told everything,I believe. Maybe that is a good thing if they are in the process of a deal or buying up DRM, keep the prices from going up. I went back and read the Investor Presentation from Oct 19 and found,
Page 4. Strong Capital Position - current Mt Magnet project fully funded
Page 9. Wattle Dam All capital required for next phase of mining (block C & D) now completed
Page 23. Capital Position - able to fund current Mt Magnet project from existing cash So when we are told in the announcement,
"The proceeds provide RMS with additional funding flexibility to examine a range of development and exploration opportunities at Mt Magnet as well as supporting our long term aspirations"
I think the reference to Mt Magnet is a smokescreen to hide what they are up to, which is 'supporting our long term aspirations'
That is fine and they can't announce until deal is done, and maybe their intentions will be revealed at AGM.
RMS Price at posting:
$1.18 Sentiment: None Disclosure: Held
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