Nothing has changed for me regarding RMX so yes I am still positive on this company.
I have gone a little quiet as this forum has been taken over by short term thinkers. That sort of discussion doesn't interest me and delivers no value whatsoever. Thankfully there were still some very good posters giving measured information on RMX (both holders and non holders).
The previous results were ok...the problem was many posters thought that the exceptional trenching result would have just continued on the drilling automatically. This unfortunately is hardly ever the case..even though it would have been awesome to see. Ash K discussed this very point in Feb if I remember correctly?
Now this was the reason why I thought management would make the decision to raise more than what they stated in the SPP given the strong demand received. It would have been silly to send it all back. Drilling can be hit an miss...smart management knows this...so having the funding to conduct the full drill program rather than hoping we hit great grades with the first few drill holes to then raise more funds at a higher price was the most prudent course of action. Its the company taking appropriate risk management!!
Many didn't like that and felt that this was inappropriate from the company. I take the other view....when your mining, you take the funds when you can get them, despite the dilution that this caused. If they eventually get the results we are after, the dilution will not be an issue.
Agree with you that they have lost some faith, but that is because traders have unrealistic expectations...it is a spec stock after all...we will have ups and downs...I certainly have had my fair share with RMX. But I have been a believer in this project and continue to remain so. I don't subscribe to the "management have made questionable decisions" argument. Management will make good and bad decisions overtime. At this stage i think we have a good management team and the success or otherwise of RMX will come down to result now and in the future.
On the most recent 30m off market trade...this was definitely MDO selling part of their holding....however as I said in a previous post, they have sold to a private investor who was willing to take on this chunk!! They have done due diligence and must be happy with the potential they see. To me this news therefore sits more on the positive side!!
I generally invest in a companies like RMX to gain maximum upside...so I get in early...I have won some and lost some...that is the nature of the beast.
As said, result over time will of course drive the success or otherwise of RMX. We have plenty coming over the next few weeks. This company still has plenty of potential and as F&L stated in a recent post, we could be mining sooner than most people think.
If you want to be part of this roller coaster ride and achieve maximum upside I think investing now or holding now is worthwhile. If you can't handle the early stage progress of a company like RMX, and therefore the volatility associated with it, then you wait until the drilling program confirms what we hope is there and then you jump on board at that time...much less risky but less upside as well. Or of course you could just try and trade it!!
Lets see what the results are over the next few weeks and we can reassess!! Good luck mate.
RMX Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
(20min delay)