Hi David
RMG’s goal for sometime has been to get ASX approval to be transferred from the industrial to the mining boards. Generally speaking this is usually a very expensive exercise. Fortunately for us Gary Steinepreis has a very good relationship with the ASX and as of recently we have gained approval for the transfer at very little cost and without having to comply with Chapters 1 and 2 of the Corporations Act.
Up until that time we have been operating on all sorts of restrictions that apply to an industrial company operating in the mining sector.
We can now increase our level of activity.
Our primary focus is copper and we have a very good portfolio of ground in the Northern Flinders Ranges. We are looking at expanding our portfolio and becoming more active with drilling.
Regards
John
Sent: Monday, 12 October 2009 11:13 AM
To: John Risinger
Subject: RMG Results and Direction
Dear John
I am a long time holder of both Adavale Resources and RMG. I have tremendous faith in the management team at both companies and feel that they have a well defined goal moving forward. However, I am currently concerned about the direction of RMG.
It can be seen that we are yet to receive news of the drilling results which occurred in late 2008 – 2009 and we are yet to see a well defined direction for the company. I feel the levels of disclosure are wholly inappropriate and I for one do not understand the relative secrecy surrounding the company’s dealings. I have noticed of late increases in substantial holdings by two parties, however, I am yet to see any sufficient evidence to warrant this as a shareholder.
I am looking forward to your response in regards to the delay with the copper drilling results at EL3812/3 and further with regards to a relative direction for the company.
Kind Regards
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