According to the signals I've seen, it looks like the rig contract is most likely to have already been awarded. We're just waiting now on AOI to confirm that RMP have met the terms required to secure a 10% stake. RMP have until the the end of this week to do so. The deadline to meet conditions for a further 10% is the 31st August.
All resolutions were passed at the RMP general meeting (as announced to the ASX on the 23rd) so the cap raising trigger has been pulled. Financiers (Max Capital, PL et al) would have been busy with background preparations so should be primed and ready to roll. Incidently, it's interesting that the financiers who are set to profit of this deal short and long term are Max Capital who acquired just under 10% of voting rights just before the general meeting....coincidence? I think not.
We're seeing a deal-making master plan being laid out, play by play. I expect the story to start moving forward VERY quickly on ALL fronts any day now IMO.
By 'all fronts' I'm referring to each of the 5 Range licenses. So much news is primed it isn't funny anymore!
RRS Price at posting:
10.5¢ Sentiment: LT Sell Disclosure: Held
