Ann: Ramelius to accept Avoca offer for Dioro , page-12

Hi Sally,

Yes, lots more can be said about HRR. Without bothering to reliably establish the source of my dim recollection (you probaly know the facts), I think BHP took up some HRR capital raising opportunities over a dollar prior to the GFC and I think Vale also took a position, but i don't recall when or at what price

Anyway, not the HRR thread, and RMS is my principle portfolio focus at the moment. Quickly accepting the AVO offer was an obvious move but it is still reassuring that they did it and keeping or divesting the AVO stake is not so obvious (to me at least).

The market has plenty of examples of boards of directors that are disfunctional or senior officers who appear to be irrational, delusional, incompetent or just completely lacking in judgement.

I'm happy to see how RMS management is running their race so far. Harking back, before i bought any, I liked their previous capital distribution because it spoke of a lack of management hubris. Let's hope they continue to make good decisions.