rmg agm

Sorry I first posted this in general


It was a small turn out at the AGM and of the half dozen or so shareholders I think 2 are long termers from before the rebirth.

The mood was very positive and formalities in the way of government bodies giving the OK are as usual for these type of ventures taking some time. Having said that the directors believe there should be no great hurdles put in the way of the Lake Fromme in SA project and that the Toolebuc formation in Q has huge potential in terms of ease of recovery and value. They have drill rigs "locked in" for when approvals are received. They are mindful of the cost of drilling etc so as an expedient and value method they have 5 ? days in early DEC booked at the "core library" to go over with what I would term "elctronic magic boxes" - the acronyms lost me - samples from previous drillings

There is 2.9Mill in the bank which should go a long way to prove up the projects and the links with Holloman are very real and pertinent when it comes to any future plant construction etc. Holloman NEEDS to get a footprint in Aus and a JV is as good a method as any.

The figures and known information from historical exploration for Toolebuc are really very good ( and remember I'm only a dummy with no mining experience ). The oil shale throw up some good numbers in $$ per square km - this is where Holloman come in.

Other minerals - U, V and Mo - give the $$'s per square km a real boost and the thing of beauty about it is that everything is found in an 11 metre thick band that covers ( and my memory might be out here ) some 3000 square km's.

I hope this is of help to all the RMG hopefuls out there and I think I got most of the info right.

I'm a holder with high expectations now.

Cheers