RID: Worth a look. From the same stable as PIR (formerly CLN)...

RID: Worth a look. From the same stable as PIR (formerly CLN) and PDZ. About to commence a rights issue to subscribe for 3 shares for every 2 held @ 20c plus 3 free options for every 2 shares subscribed for. Underwritten by Azure. Looks very similar to early days of PIR prior to their rights issue where it went from 16c to approx 40c in Dec 2009/Jan 2010. Early days but maybe a scramble for shares prior to ex date at end of October and is very tightly held both pre and post rights. Currently only 12.5 mil shares on issue. They have picked up gold projects Ghana and DRC to be run by former PMI Gold management. Well worth a look for those who remember CLN. DYOR