Well im surprised they couldnt raise more than $1m and priced it...

Well im surprised they couldnt raise more than $1m and priced it so low close to the option price. Would have preferred a placement to broker clients who are not classified as Soph.

They didn't want to raise more than $1m, they only wanted to raise enough to get them through until June (as per presentation today) then by June, hopefully options will be converted and another $2m in the bank.

Soph funders are hardly known as long term investors and are sitting on an attractive 30% short term return provided they sell their 59m shares into some positive momentum.

Who cares if they are long term or not... Scoping study and further drill results will dictate the share price and market cap and to some extent the gold price. Scoping study and further drill results should be out by late February/early March...

Wet season coming up so not much drilling coming you would think. Im still not convinced they will prove up enough resources with what they have found so far including whats under trench 7 and 13 . How much resource does one need in this environment to call it a viable project. What other projects in the Philippines can it be compared to . I mentioned Red has 940K ounces indicated and 380K inferred.

The wet season starts in June in the Philippines, peaks in July-September and finishes in October... So weather won't affect RMX at all.. How can you say we won't prove enough resources with what they have found in the trenches? This is ridiculously high grades AT SURFACE, so you would think the deeper they drill, the more high grade, high tonnages exists... RMX have literally not even scratched the surface and they are getting these results, exciting to think what's under the trenches... Other companies for the same results are digging trenches up to 80m deep... Others have to drill up to 500m to get some decent grades, so if we can get high tonnages, high grades, less than 100m, would be like winning the lottery... On average, gold miners have costs averaging more than $1000 per ounce, RMX's costs could be less than $300 per ounce...

What other projects in the Philippines can this project be compared to? Umm, Medusa is the lowest cost producer in the world and valued at around $500m, and that's after it's gone down by 75% over the last year... Medusa's costs are around $300/ounce... Mining in the Philippines are low cost and RMX have perfect position right next to infrastructure. RMX may have small tonnages at the moment, but like I said, resources will increase dramatically once more driling takes place, grade is king, and RMX have huge grades... (42,000 ounces at 7.2g/t)

To get an indicated resource is going to take some drilling and money. Even what they get from the option holders and the SPP i feel wont be enough.

As with all junior miners, RMX will need further funding in the future but hopefully after this next round of drilling so they can raise at a much higher price, like around 10c and $50m market cap.