RE:RE:Red Dragon 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 increase them is excellent based on their drilling, their in with the Eritrean govenernment, giving them priority status on other lands etc.. I would guess that the Bisha Mine has a lifespan of over 20 years with the addition of new reserves. Their yearly cash flow is around $120 million and growing. They have minging expertise, in building and operating and pay a generous divident.
Many detractors point to Eritrea as being an issue, but the facts say other wise. The facts are that NSU has explored and mined there for a very long time. There are many areas in Africa way worse than Eritrea and the geo political issues sometimes are over played by the markets. Look at Kinross. They've been successfully operating and making money in Russia for a long time. But I'm sure that the detractors would prefer a North American mine, if they didn;t have to face the native and environmental issues.
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