RTM REEFTON MIN., page-5

Achieving a London listing, even on the AIM, is a fairly expensive process for a small company, costing around AU$1.5-2m.

This is pure speculation, but the fact that the company has put itself through that hoop AND found a sponsoring UK broker, suggests to me that there may well be some sort of play on in Reefton.

This view is reinforced when I look at the projects the company has pursued to date.

Skeleton Coast diamonds and Erongo tantalite sound exotic, perhaps even far-fetched to Australian punters' ears. But African projects, whether in Namibia or elsewhere, have provided the life-blood for speculative investment in the UK since the days of Cecil Rhodes.

I can see that a listing in London, where the value of the company's projects might be better appreciated, may be a shrewd move by Reefton.

I don't know the broker Seymour Pierce Ellis Limited, but if they provide the right follow-through support, then Reefton shares may appreciate substantially.

It's a spec punt, but I've bought some Reefton options.