Announcement out today about RMI issuing unsecured convertable notes to Sinom to raise $280K and involving 9.4M ordinary shares.
Good to see Sinom still involved, but such a small amount of capital being sought is a concern imo. Why such a low figure at all unless mothballing being commenced or some newer, bigger development is in the wind just down the track? Still no word on the Wowo lease renewal or why it is taking so very long to finalise. I did take your advice G4B and emailed RMI directors/management a few days ago for some clarification, but no result other than this announcement today so far.
Any thoughts on the low amount of capital sought?
announcement today : capital raising
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Mkt cap ! $14.35M | |||
| Open | High | Low | Value | Volume |
| 2.2¢ | 2.3¢ | 2.2¢ | $25.57K | 1.161M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 298103 | 2.2¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 1445557 | 1 |
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| RMI (ASX) Chart |