rmg update

Spoke to JR today. He was glad to report that progress is finally being made and the most recent quarterly is all new.

Core results from Mt Coffin due in a couple of weeks (when back from the lab) and he is meeting a prospective geophysics outfit on-site at Mt Coffin in just over a week to discuss a way forward to develop the dirt. Similar JV to SYR is possibly on the cards, as has been reported previously.

Looking at potential opportunities in Africa as well as in the AP region. Adavale was a case in point where they sought such an opportunity in Indonesia which is in the process of firming up a JORC.

Should see some real progress this quarter and he advised that the major shareholders are confident on RMG in the medium term. He did say the GFC did not pump out the opportunities they were hoping for. This means the company must carefully look for opportunities that will take it forward. He stressed the Directors, in particular, Gary Steinepreis is very particular and a very good operator and they are always looking for shareholder value in everything they do.

The Chinese still remain in the wings for Mt Coffin.

Good luck and I would be quietly hanging on to those RMG shares. Should see movement soon.

Colonel