Your so called new sophisticated investors are managed by Forrest Capital) Henderson Family who sold out over 19 million shares at 1.8c (30/08/2011) just before they got crushed back down to the price they are at now. Conveniently they are managing the capital raising where he will get to reload and will get a free option as well. that option will only cost him 2c to exercise ( the full share market price in September). He will pay for it all with the $130k profit he made of everday RMG investors in 4 months.
If you think this isn't dodgy then you are mad.
All of the shares are going to the people that got in during the funds raising for the project acquistion. remember they doubled the share volume during this. and the shares that were bought were only 1 c. they got free oppies at an exercise price of $0.001c. No doubt a lot of them got out in profit just like henderson at your expense and will reload now.
Now we have a project and drill results and it is the same price because they need to reload after selling all there stock for profit.Previous cap raising have been priced higher than this.
I know a number of the top 20 holders who will be voting against this cap raising in december. Not because they don't want it. Because they want to see it go to the current shareholder.
Because we the current loyal holders are the company, not the pump and dump mates.
If you want to see this cap raisng go to you and not "the boys" then you need to vote against when the agm comes around.
here is another thought. they are burning 1.4mill a quarter at the moment, so this cap raising will give less than half a yr worth of cash. then henderson and his boys will pump, dump and cap raise again.
you have a chance to take back some control of your company, believe me, you will be suprised how many votes are already going against. we are not far of reaching 50% against if a few more big holders get onboard.
RMG Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
