why the fall? do i average down? re: they say----
RTM has fallen from 5c to about 4.2c in the last week or so. What's up? Gen Mtg approved capacity to issue more shares as low as 80% of 5 prior days trading. Will it be an SPP? Will I be able to apply?
Baxter Brown's presentation looks good. 30 years of blocked access. Applying new technology. Vast expanse of coast available. Quality diamonds found in samples - and 264 of them. So why the failing SP? Do I average down? Do I wait to see if I get offered a SPP as even lower prices?
Gosh Baxter Brown must be getting on by now but certainly a diamond exploration heavy weight from way back. Excellent quality ppt worth the big download (34Mb). Great read! 14% by weight of total production is larger than one carat in size. Stage 2 prospecting has already produced a stone weighing 2.3 carats.
Test sampling 0.005 carats per tonne - RTM certainly need to find pockets of high concentration - hopefully pockets of the population of larger stones. Would you back Baxter? Must have been a great presentation. Maybe Baxter just wanted a trip to Perth to catch up with prior colleagues like CRA Argyle team such as Maureen. Certainly spent a bit on the presentation. Pity it wasn’t put to PDF and optimised to suit download by ordinary investors. The full text of the impressive presentation, including slides and video clip, is available at http://www.sitebox.com.au/reefton. The username is ‘reefton’ and the password is ‘ieTh4ahd’.
At 6/03 Price/Book ratio = 0.38 – very good. 11c per share book value and traded last at 4.2c. 143M shares. So at 6/03 RTM had $15M to spend or is it nearly all just asset valuations? How much is left to spend? Can’t have spent all that in six months could they? – maybe - Q1 cash report doesn’t show much. Oct03 placement to general public at 5c with minimum of $5,000 raising $0.5M. Market cap of $7M. Planned AIM listing seems to be through according to RTM website. Ann Report looks to be a black and white scan and failed to download – not a good sign – surprising in light of a good presentation with a fly through.
Reckon I’ll put in a bid to average down and not wait on a SPP offer that may never come to me and if it does, may be at a higher price to boot. Good luck Baxter.
RTM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Not Held
