agm, page-7

Hiten,
I think the logic is that there is a sequence to all this. BV doesn't have to be paid for until April (Not sure the exact date), payment can be half in shares and half in cash. They obviously would not pay until much closer to this date. Basically they are still doing a sort of due diligence. They have done some drilling to check the data they already had, that's all good. They have done the metalurgical testing and that was all good. Now they are working on the costings and business plan of the whole project.This planning is the main activity at the moment, to bring all the threads together mining, transport and sales. I guess they need to have a robust and precise dollar values to present a business case to obtain finance to get the project up and running. Paying for BV is at the end of this process.
Resolution 7, could be viewed as a step in this direction, ie. organising money to pay for BV. At the meeting it was stated that the company has so few shares that relying on the 15% rule doesn't allow for the raising of much money. If I understood the flow of conversation correctly the previous capital raising (3.5m shares) all went to a single invester. It was thought that if someone in the future wanted to make a big investment in the company by having clause 7 they could do this without having to call a GM. One of their principle people was not at the meeting yesterday because he was in the USA. I suspect there will be a lot more time spent in the US by RHM people in coming months/years.

Saltbus

PS. This is looking like a long haul slow momention SP thing.