RESERVOIR MINERALS INC V.RMC

Red Dragon

[rob926]

How many shares does the Red Dragon own? If the vote for NO won then it was at least 1/3 of the outstanding shares. Seems like a lot more no votes than just the Red Dragon. Hopefully something good is in the works.

[Meester954]

A couple of things to think about before I sign off for the day.  First, while I am not a Canadian Solicitor nor have I read RMC's charter and by-laws, it is my understanding that in certain instances, a 20%+ holder of shares cannot vote on a transaction they are involved in.  If you consider NSU's 19.99%, plus any other shares or warrants they own, and couple them with the

[digipic]

The total RMC's float is around 60,000 million shares.  The 19.99% was the percentage based on the RMC pre-prosal float of 48, million shares.  In regards to the your second point, most people in these discussions have undervalued NSU.  They had close to $500 million in the bank prior to the proposal.  The Bisha mine reserves have grown exponentially and the potential to

[Meester954]

NSU has done a very nice job with Bisha n Eritrea.  Unfortunately, the market does not reward them for that, hence the deal for RMC.  Two great mines, with the newer of them in a better jurisdiction, can begin to unlock value.  I simply want more equity in the new NSU.

[digipic]

Me too, but I thought it was a fair deal, and was leaning toward a revaluation of multiple on the new NSU and thus I was happy with my returns thus far. NSU has a problem and its not Eritrea.  But, the stock is being controlled, by a few major institutions/investors.  They control almost 50% of the stock.  The new NSU should or at least curtail their impact, as I believe it would