Just take a look at these numbers. It will only be a matter of time before people find out about this little gem.
Another $1M to the bank account. Another $18M. off to working capital. A rights issue for either 6,9 or 15 million new shares, in the coming months. No company presentation that we know of, but I reckon they will get more than 10cents!!!
I am still backing Sinotrans. Listening to an interview with one of the directors of Sinotrans, you can see how they love public listings,(ie: Sinotrans Shipping and SinoAir)and they are planning on dominating these areas. They already dominate ALL land based freight in China and have spent the past 20 years creating an Integrated logistics model to cover all forms of freight and be a 'one stop shop' as he calls it.
This company is Massive. They just got given 17% of Richfield for just over $1 Million!!!! They can buy these 15 million shares at any price, and they will have 26M, and the MD has about 23M, which is about 58% between them. The AUD continues to tank and just makes the deal look better each day.
Richfield has a very sucessful chartering service to help chart new routes, into ports throughout the rest of Asia were Sinotrans might not be so dominant. Richfield has proven by this latest cash flow report that it is very well run, considering the tough global conditions.
And it's market cap is how much? $7M ?? They will not miss the deadline in May to issue these new shares to someone, thats for sure.
And shareholders will do well, so they sit tight.
RIS Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
