rbm investor presentation coming up, page-6

Iona, cash at bank is an issue. Got the AGM notice this week and the third resolution is to support a 60M share issue at not less than 80% of the share price when they do it. It must occur within 3 months of the AGM. To me this sounds like they already have a backer for it. Lets hope the price stays as high as possible to get as much cash as we can for our impending dilution.

Assume a 3c issue price at worst I hope, so that is around $1.8M at least to reduce Mac bank debt by $700,000 and for feasibility study and further drilling I hope! Massive dilution though. But that is the nature of the game.

Drilling is the key, more results like last time and a few deeper holes to probe the motherlode(?) intrusive source of these high grade pipes is what we want. As a geo myself I am waiting for this to happen.

Been in this one for a long while now based on the geology alone, so will consider averaging down if we drift lower, but have high hopes for a recovery in price. Although with every recovery we get a predictable selloff like the last one all the way back down from 8c. Management history/reputation could still be a hanggover problem from the Burdekin days.

Will try and talk to GV after the presentation, normally all the presentors hang around for a chat, but would hope that GV is off on a few roadshow presentations to local brokers to top up the kitty and get drilling asap.

And we still have a sleeper in Mount Kasi in Fiji, 240,000 Au Jorc Resource, waiting for the Fiji Gov't to renew mining leases.

Mino