fin review - smart investor - rmg

G'day Everyone,
Just thought that you'd be interested to know that RMG gets a mention in the March edition of Smart Investor (under "Snapshot Stocks - page 77 - Brendon Lau). The article "firms-up" Wayecat's surveillence that the company has been entertaining deals with the Chinese. Here's some of the pertinent bits of the text;
"SI View - The fall in commodity prices isn't deterring the collection company from its plan to transform itself into a mineral explorer. It has already garnered interest from other mining firms and Chinese investors".
"Flexible is one way to describe RMG, which started life as a public company under the name of Frontier Petroleum. It moved into debt collection in 2000 and changed its name to RMG. Management now plans to turn it into a mineral explorer. Executive Director John Risinger believes there's more money to be made in mining, despite the commodity slump. "We have our own drilling business, we have our own geophysical instruments and our geologists work in-house, so we can operate and look after our commitments a lot cheaper than anybody else............RMG has sufficient funds to continue exploration activity through to 2010, Rissinger says. By that time, he expects to have discovered a resource with commercial potential and to have struck a joint venture to develop a producing mine. RMG is on the lookout for merger opportunities, particularly with companies with limited resources but promising exploration permits. It has also been talking to a number of Chinese inversors about taking a stake in some of its exploration projects."

Good luck to all holders. 2010 isn't that far away!

Goggo
DYOR