Wow, I can remember getting a call in the evening from these...

Wow, I can remember getting a call in the evening from these guys asking for me to participate in the SPP, they must have been absolutely desperate for funds. Like the many posts I have read here its unbelievable that this has happened with the price of gold at the moment. Just flicking through the announcements made over the past six months by the company you can see sales were not being realised fast enough and costs were very high. That Presentation to Monsoon Lightning Series on the 16th March appears to be a last ditch attempt to achieve something. On the last page appears the text "Reliance should not be placed on the information or opinions contained in this presentation". What is the point then? Transparency with this company was very poor.

23K down the drain from my perspective with a hope that this is not the end of all proceedings with RNG. Maybe some funds can be realised from the enormous amount of ore the directors were claiming.


Does anyone have an idea what the deal is with appointing a new CFO and Director less than two months before the company goes down? Did these two look at the company and say voluntary administration is the way to go?

I will leave you with this quote from new CEO Paul Bibby on the 11th April less than THREE weeks ago. "RNG is now well placed to secure long term production from underground mining and is looking forward to growing the companys asset base through cost effective production and exploration success"

Ash