He's Ace's voodoo doll from ADD. He runs a mob called Martin Place Securities & is on the board of ADD & from Ace's point of view takes very large fee for very little input. In the interest of fairness it should be pointed out that not everyone agrees with this summation of Mr Poole.
Regarding the headline of .004 cents asset backing, I'd be interested to know if this is a guess on the part of Ace or a figure furnished by RMG.
Lots of people have been speculating on RMG looking in Asia or Africa for a new project & that that is what's needed to boost the share price but speaking of overseas projects, sister company ADD have a large coal project in Indonesia & the price of that is retreating rapidly & that's even after the proposed super resource tax made overseas earnings appear more attractive. Oh the market is a fickle beast.
RMG Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
