RMI resource mining corporation limited

5.26%

1.8¢

Hey, I'm doing DD and the number 4 makes me think a lot. Middle...

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teddy_afro

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27/12/17

23:26

Post #: 29897108
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Originally posted by nguyendz ↑

There are few question about RMI:
Short term:
1. Debt and on going funding. RMI need to raise fund fast, it cannot live on debt forever. It need ~1m/pa to run.
It is not in creditor interest to call on debt because they are director and shareholder. And if the company is in administration, exploration permit may loss with it. (back to PNG gov). Tax lost credit is also an asset that can keep the company and return it to a shell too.
2. Renew of Exploration Permit in Feb 2018.
Mid term:
3. Scope study, Pre DFS. They need a plan. No one give you money if you do not know what you want to do with it. I could not find anything meaningful about what the BoD can do if they have money.
Long term:
4. Infrastructure, geology issue: Wowo Gap is in middle of nowhere, there is no road, port, etc. It is in tropical jungle, monsoon rain, typhoon. flash-flood, etc (yes, seriously, it is here: https://www.google.com.au/maps/@-9.5375078,148.9490195,14.45z/data=!5m1!1e4)
Only big player can afford that.

In mean time, SP raise and hype about Cobalt may help 1.) and 2.)
DYOR

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Hey,
I'm doing DD and the number 4 makes me think a lot. Middle of nowhere... Will be very expensive just to bring electricity. And what about water, road, port ?
What do you think?
Is there any other mine around wowo?

Anyway will continue and maybe jump in.

RMI Price at posting: 2.8¢ Sentiment: None Disclosure: Not Held
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