lets remember

Its easy to forget the fundamentals when panic selling (caused by one big shareholder under financial pressure)sets in.

Keep in mind that there is only $26M worth of freely traded stock. The stock that will be issued soon for the interest in the Moly project will be held a block long term. The balance of the options (250M) will be mostly converted at the end of May 09.

The project conservatively has 100Mt of Mo at 0.12%Mo. Probably double that but lets say for argument it 100Mt. You are talking $9Billion in metal at equal third highest average grade in the Western World (nobody knows China mine grades).

The company has no debt and cash of at least $2.5M enough to cover the upcoming exploration program.

The program will among other things tells us if the deposit also contains Rhenium which occurs only where Molybdenum occurs and sells for $US4000 lb. Yep, its worth hundreds of millions if it co-exists in this deposit. Back in 1980 when Rio drilled 36 diamond holes, there was no commercial way of assaying for Rhenium nor did Geo give much thought about looking for it.

We've just had a UK resource fund take a 9% stake in the company at 4 cents. We know Sprott Moly in Canada will take a position soon because their Moly fund takes a position in all the better junior Moly companies.

We know the ice has been broken with discussions with Jap steel mills with the view to taking a JV position. Admitedly these relationships are built slowly over time but non the less this process has started.

We know the traders like to have go when its running.

We know the Mo metal market is strong with further price rises predicted by leading metal market analysts.

We know steel mills have globally started to form strategic alliances and JV's will the best Moly miners because China has cut back on its exports.

Me know the uses of Moly is exploding in all the areas it is used but in particular the oil industry.

Overall, you need to tell yourself that at 3.5 cents, RCH is a bargain and in fact its well past a bargain.

Shouldn't be too long before she is back up at 5 cents especially when the next fund manager arrives. In fact you would think now, at these prices a fund manager could get set at a very good price.

There are plenty of resource funds searching for potential elephants to buy into.

And baby, this is an elephant. I'll stick with Rio's unofficial opinion that its 200Mt+ in size, thats $19Billion in metal in the ground.

The only real negative is they picked a pig of a shell to back it into. Too many shares on issue etc etc.

But thats water under the bridge now, the register will tighten with each addional fund manager that comes on board.