RMG 0.00% 0.7¢ rmg limited

conditional farm in agreement

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    RMG Limited
    ABN 51 065 832 377
    Unit 8-9
    88 Forrest Street Telephone: + 61 8 6461 6840
    Cottesloe Western Australia 6011 Facsimile: + 61 8 9286 2900
    Australia
    6 December 2007
    Company Announcements Office
    ASX Limited By e-Lodgement
    Dear Sir/Madam
    CONDITIONAL FARM-IN AGREEMENT - EL3812 and EL3813
    The Company advises that it has received an initial non-refundable option fee of A$50,000 in
    relation to a conditional farm-in agreement over EL3812 and 3813 in South Australia with
    Copper Road Inc. (CRI) A further A$50,000 non-refundable option fee is due and payable.
    The farm-in agreement is subject to and conditional upon:
    · CRI obtaining conditional approval to be admitted to official quotation on the OTC
    Bulletin Board market; and
    · CRI preparing a prospectus and completing an initial capital raising up to $2 million.
    Under the terms of the agreement, CRI must spend $2 million to earn an initial 40% interest in
    the joint venture within the first 2 years. CRI may elect to spend a further $3 million for an
    additional 40% interest (total 80%) within the following year after the initial interest.
    The Company will announce further details when the conditions are satisfied or waived or if the
    agreement does not proceed.
    Yours faithfully
    Gary Steinepreis
    Director
 
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Currently unlisted public company.

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