Agreed - they had the funds (pre-CR) to achieve that aim. I was...

Agreed - they had the funds (pre-CR) to achieve that aim. I was also critical of the team for dragging their feet - but I now admit that I WAS WRONG! Here is why:

Rob & Co have obviously done a magnificent job of convincing astute investors/ instos of the potential of Maronan. I guessed the correct raising price of 17 cents, but I thought they would do well to raise 2-3 million bucks tops (given the current environment for junior explorers). Was blown away by almost double that - think RDM were too. What it says, Hanrahan, is that there are plenty of punters who have looked at the data to date - including the discovery hole info - and realised that this project is significantly derisked & given the fertile terrain (think Cannington) have decided the risk is worth the reward. It is not as if they are drilling to determine whether or not there is anything down there - they are drilling to test further mineralisation. The market has missed this point - but they will soon wake up. I've seen it so many times before - recently TON comes to mind.

Another point re: funds - well, with an enviable 6 million + cash - RDM can in no particular order:

Slam 6-10 diamond drill holes at Maronan. The main prize!

Advance the Emu Creek Joint Venture (Copper-Gold). Around 10 months ago, Shanxi Donghui Coal Coking & Chemicals Group Co. Ltd (a privately-owned Chinese company) took over Chinova Resources for AUD $0.22 per share - interestingly a 55% premium to the 3-month VWAP. Unsure of this mob's intention, but I note that they have around $170 million cash on hand to play with. RDM never mentioned this to us, but hopefully the cashed-up Chinese advance the Emu Creek prospects.

Update us on their Nextisa Project: Copper/ Silver-Lead-Zinc - in terms of their new tenement applications over this exciting shale basin. I personally believe this area could be the next big discovery zone.

Update us on their Tennant Creek Projects: Copper-Gold - Soil geochem over exciting shallow targets.

Update us on their Irindina Project: Initial exploration (possibly airborne EGM) over terrain east of the Basil deposit/ south of the high-grade Jervois Range deposit.

Update us on their Colorado Potash Project: Potential drilling of targets identified by Agapito Associates.

Basically, you have three rock hounds sitting around a campfire pontificating about the next big discovery.

Outlined above are a number of potential answers.