Johnno8, we've been trading 1.2c > 1.3c this past week so I don't see 1c issue price as unrealistic. I've seen much larger discounted capital raisings in the past year or two (RIO comes to mind). It doesn't on the surface strike me as a share grab by the "mates" but more as described an opportunity to get cash quickly to speed up drilling & site works pre wet season. The test will be if the additional cash facilitates a higher reward to all shareholders by proving up an economic resource, a JORC, a JV, a take off agreement or some other tangible benefit. As I said last week, as much as I'd like to have been offered shares, I'm happy to ride along in the slipstream.
More seems to have happened with RMG in the past 4 months than probably happened in the preceding 4 years, so I for one am quite happy.
RMG is now starting to appear on the radar of a broader investor group than HC loyalists & I wouldn't be surprised that once the results are in, we'll start to have broader interest & coverage by brokers & analysts. We have to crawl before we walk though.
RMG Price at posting:
1.3¢ Sentiment: ST Buy Disclosure: Held
