Interesting to watch RTM today.
By 12:30 nearly 150 million shares have changed hands. The company has a total of 242 million shares on offer. My guess is that a fair number of these trades are the same shares being bought by bargain hunters and then sold at a loss to other bargain hunters.
What chance that the Namibian government will refuse to accept their renewal applications? Certainly getting legal advice in a situation like this would have to be almost a last option. It won't make the Namibian government too happy to be chased by lawyers for an Australian company. Perhaps they will refuse to renew and offer the leases to a local company.
Namibia seems to be one of the better African countries but there is still a level of corruption present - http://www.eldis.org/static/DOC13339.htm
RTM
reefton mining nl
