poor deal for larger existing shareholders, page-13

APJAPJ, I respect your right to express your opinion, but there are a couple of points in your post with which I have to take issue.

Firstly, your comment about justification of an MRRT. Mining companies already pay 30% Company Tax plus State Government Royalties. Do you honestly think that an asdditional higher tax regime is warranted?

In any case, few Australian gold mining companies make sufficient profit to fall within the ambit of an MRRT. And if additional taxes are piled on top of the existing tax burden plus the carbon tax, guess where all the minerals exploration money will be spent; certainly not in Australia.

Secondly, you state that 'there is no clear plan' in relation to the use of the new funds. As the CR and SPP have only just been announced, and details have not yet been sent to shareholders, the company has not had an opportunity to communicate their plans to holders.

In addition, I would expect that some of the funds might be allocated to acquisition of assets or stakes in other companies, and until such time as any such deals are finalised, it would be extremely unwise for management to be signalling their intentions.

This is an imperfect world, and most companies do things which upset some or many of their shareholders. As with buying anything, be it a new car or some shares, we each look at the fors and againsts and reach a decision as to whether we are happy to make or keep the purchase.

Personally, I have been happy with my investments in RMS, and there is nothing in the CR & SPP which causes me any great angst. I'm happy to take some new shares in the SPP, and await developments. I'm reasonably confident that RMS has a bright future, and if I change that view I'll do what we can all do - sell and invest elsewhere.

Cheers,

Mike