This seems to be a conundrum for RMG's Directors. They know they have something very very big at Mt Coffin. How do they take the company forward without letting the cat out of the bag nor diluting shareholders. That is why, IMHO, they will focus on a a farmin / JV for geo work at Mt Coffin in the next stage of development.
Slot in a nice overseas project, that they are considering, say Africa, Indo or Mongolia (ala Adavale Resources Ltd Coal), for example, and then the SP run to say 20 cents per share, do a placement at say 12-15 cents per share, cash up the company and we are away.
Mt Coffin gets further developed, and JORC is established, then a BFS for commercialising the resource.
Overseas projects brings home the goods and cash flow.
That is what I would be doing if I sat on the RMG Board.
I am sure they are considering something like that. Remember, Holloman Corporation (US) is the largest RMG shareholder and they will want a return for their investment.
Colonel
RMG Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
