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RMG - RMG Limited

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Dave31 said:
A bit of movement/accumulation going on the last 2 days. Today has seen 1.8c and 1.9c chomped.

All speculation based on Ascent Capital and possible projects

as i posted 2c got chomped at
Click to expand...

Certainly some movement, 2 cents chomped all up!
Now just to take out the 2.1 cent mark and thats most of resistance for today!
where to from here?
 
Pat said:
Certainly some movement, 2 cents chomped all up!
Now just to take out the 2.1 cent mark and thats most of resistance for today!
where to from here?
Click to expand...

Hmmm, and now the 2 cents offers are back.
 
And here's a chart....

From what I can see 1.5/1.6 cents is a definate base.
It seems that it's broken a small downtrend/triangle and a possible breakout. Why I don't know.
MACD looking good, needs to come up over the last bump, above 0.01 or so.
Any criticisms welcome.
 

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Hi YT,

The key here is the management. The Steinpris and Ascent Capital connection is very tempting. They have excellent experience in turning dogs into winners. I haven't bought as yet but am closely monitoring the situation.
DYOR
 

Hi YT, do you know what the market caps of the above companies were when they were at 1c etc? Be good to see the overall mc increase and compare to the current RMG mc, rather than look at SP increase.

Cheers,
 
Big T from memory all of them had around 400m-800m shares on issue whent hey were 1c
 
YOUNG_TRADER said:
Big T from memory all of them had around 400m-800m shares on issue whent hey were 1c
Click to expand...
Hi YT,

Those shareholders who held on have done brilliantly. It would be interesting to see what RMG does with its money. Judging by what they've done with similar shells, they may well decide to look at uranium prospects that are overseas. These are just my thoughts. Once all the money is received by the company RMG can then focus on building shareholder wealth in the same way its done for the other companies mentioned.
DYOR
 
I rang RMG last night and spoke with Gary Steinpreiss. He advised me that he could not issue any statements as yet, but that the company was looking at a number of acquisitions with the proceeds of recent issues. He has taken note of previous efforts in regards to WMT, DYL and others. Not that he would necessarily listen to me, I stated my opinion that the best course would be to look either for uranium prospects overseas or NT.
I hope this info helps in some way.
DYOR
 
After weeks of waiting, I decided to take the plunge and bought 3 million RMG this morning at 1.7c. I had to sell out of MZM (lucky its had a good day today) and reduce my holding in HCY (for a very small profit) to pay for it There are not many companies under 2c that have such good management. The Steinpreis Bros have an excellent reputation. All the stocks that YT has quoted (DYL, WMT etc) have gone through the roof. Its still early days for RMG, but I'm hoping that RMG will do just as well. Yes, RMG has no real assets as yet, but I'm buying it for its excellent management and track record. RMG is now relatively cashed up and on the look out for new opportunites. Any other views?
DYOR
 
hi Greggy...good luck with ur holding...im in only with a few now but will get set i think to buy a lot more shortly...i think ur correct and with the management in place thats the foundation for growth...very interesting times ahead i would say with seemingly no downside..chheers
 
Hi Petee,

Its a case here of backing management with an excellent track record of increasing shareholders' wealth.
RMG announced on Wed 21 Mar 07 that 29,469,000 shares have been issued at 1.5c each via the Share Purchase Plan raising $442,035. It surprising that so many shareholders took up the offer considering recent market volatility.
DYOR
 
Everything been quiet on the RMG front so I thought I'd give RMG a call at Ascent Capital (tel: 08 9420 9300). I spoke to the Secretary there just 10 minutes ago. She advised me that Gary Steinpreis was in a RMG meeting. She offered to help me with my shareholder query. She told me that the company was busy cleaning up the share registry (re unmarketable parcels) and had not as yet acquired any projects. She advised me that any acquisitions "would definitely be in the resources area". She commented on how DYL had done so well and that the company would consider similar uranium interests.
In summary, I can now confirm that RMG is looking to get into the resources area, just like SBL is. Lets hope its in the uranium area.
DYOR
 
greggy said:
In summary, I can now confirm that RMG is looking to get into the resources area, just like SBL is. Lets hope its in the uranium area. DYOR
Click to expand...
Thanks for the update greggy. This is somewhat speculative but I have bought a few of these also just based on their track record. 'Educated gambling' at its peak. I too hope to see the words U3O8 in any acquisition, or EPL they pick up, as in the current environment anthing with a market cap under $50m, and with something radioactive on site, seems to be fair game. Good luck!
 
Hi Kennas,

Thanks for your good wishes and welcome aboard the same train. RMG's management have an excellent reputation. Now that there looking for acquisitions in the resources area it will be very interesting to see what they come up with. Both Gary Steinpreis and the Secretary who answered my call today, have made comparisons with other shells that they have turned into money winners. I'm hoping that RMG will move into the uranium sector. If so, watch this thread. RMG is now cashed up and ready to move forward.
DYOR
 
I'm hoping if they move into the U sector it's oversees.
I'm very pessimistic on Australia and U.
However, The market seems to jump all over Urainium. Wonder if the sentiment will change after April and the U conference?
 
Pat said:
I'm hoping if they move into the U sector it's oversees.
I'm very pessimistic on Australia and U.
However, The market seems to jump all over Urainium. Wonder if the sentiment will change after April and the U conference?
Click to expand...
Hi Pat,

My gut feeling after speaking twice to the company is that hopefully they will make an acquisition overseas in the uranium sector. If confirmed then this may have a very positive effect onh the share price. You just have to look at the background of the directors involved to realise this. Just take a look at what happened to both DYL and WMT for starters.
I'm sure sentiment will change after the ALP vote on the uranium issue provided Mr Rudd gets his way. He will lose too much face should he not win that battle. The only worry though is Mr Carpenter, the WA Premier (no its not Mr Burke). He is clearly against uranium mining and will need plenty of convincing to change his State's stand on the maqtter. But I agree with you Pat that overseas is the way to go.
Going back to RMG, I notice the increased buying support. At the close of trading there were 3 buyers wanting just under 4 million shares at 1.7c and fewer sellers in the market. It will be interesting to see what develops today.
DYOR
 
Well greggy, someone else is taking a bit of a serious punt along with you. A $50K ish order through this am. Unless you've lifted your stake to $100K?

Decent order for a shell. Punters like us taking a more than minor interest. Happy with that. Next time you're on the phone offer some type of bribe for some info will you. I'll chip in 20 bucks if that helps. he he.
 
Didnt this hot up this afternoon.

If and when we receive news, look at the lack of overhead resistance
 
Dave31 said:
Didnt this hot up this afternoon.

If and when we receive news, look at the lack of overhead resistance
Click to expand...
Yep, wonder if it's just day traders, or some $$ in the know...
 
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