Some mischievious, scurilous, not so smart posters are trying to down-ramp this share for reasons I do not understand, so let's clear-up any confusion.
From the RMP announcement - "Red Emperor has committed to three (3) exploration wells in the next 6 months which this capital raising, coupled with RMPs currents cash, provides the required funding for."
Read this in context to the announcement. 1. Red Emperor are raising $11m. 2. The purpose for which the $11m is raised is to fund 3 exploration wells over the next 6 months. 3. To fund drilling after 6 months RMP will need to raise more funds. This will most likely happen on LSE AIM when RMP gain listing in a few months.
Thats it, simple.
RRS Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
