rio, page-2

Daylef,

Great contribution good change from the rubbish that gets posted.

Your friends info is a bit different than what I gleaned from the company's geo. He informs me that its a pure moly deposit. Back in 1975 they certainly were looking for copper and got Moly. They would have assayed for Copper under Rio so it would be pretty surprising if they found copper now.

What wasn't assayed for back in those days is Rhenium. A valuable co habitant.

Corporate action is what I'm banking on to rescue the share price. We basically know its grade and we know its 100Mt in size but according to the company geo (who worked for the RIO/Santos JV) Rio reckoned it was double this size. But I wouldn't imagine we we know the answer to that for some considerable time.

The current corporate structure in my opinion must be a work in progress. The vendors surely dont intend holding 50% of the stock and contributing to capital raisings in a big way. They will deal their position partly or wholely to a mining company with the clout to progress this. Keep in mind they can sell 100% of their shares and options and they still own 25% of the company which holds the project.

Word is they are talking to a number of parties but its only talk coming out of the purple circle but it makes perfect sense.

I think the early drilling will of course be a vital step towards JOR but also validation of Rios work (they can show drill cores and logs to any suitor coming in).

This is a big project with a big budget to get to JRC, the capital aint coming from the RCH register apart from the options being converted. The vendors will be aiming to water down their over the top position is my opinion and a offshore mining company is where its likely to come from.

I'm hoping this happens soon so we can get the stock perked up again.