Ace, I'm surprised at you falling for the shenanigans of Rob Nelly Melba.
Firstly how do you know the big holders have ben diluted - perhaps they took up shares & free options courtesy of Forrest Capital;
Secondly, we have purchased a zinc asset next to one of the worlds top zinc mines that is in need of zinc for contracted delivery during a planned maintenance shutdown + they have not too long a life in their existing resource hence the need to buy more zinc resources. For us it's called being at the right place at the right time;
Thirdly, we now have Teck Resources on the register as a substantial holder - enough said;
waynecat has correctly explained the manner in which the shares are escrowed;
Lastly, in fear of repeating myself, would you rather have half of something big or all of bugger all.
It is also interesting to look at the number of votes cast for/againt & abstain at the meeting last week. In each of the motions put to the vote, the NO vote ranged from 42 to 227. If any of the people complaining about the issue on HC cared that deeply about it, they obviously didn't vote against it. The same point applies to any major holders who you referred to. Do you think your mate Jonesy would sit back & watch his asset reduced if either he wasn't happy with the deal or wasn't increasing his holding via the placement?
Ace, I know you've been in & around RMG for a bloomin long time (as have many of us) & I hope I have managed to demonstrate to you privately off HC some of the knowledge I have of RMG so if you concede that point you will appreciate why I have never been more confident or excited by the prospects for RMG. Happy to communicate via the back channel should you wish.
RMG Price at posting:
1.7¢ Sentiment: ST Buy Disclosure: Held
