I have been a shareholder of RHM for over a year now and have...

I have been a shareholder of RHM for over a year now and have ridden the ups and downs. As the price continued to fall lower this week I couldn’t resist the urge to top up and buy more. For some reason each time I log into my comsec account and I see red next to RHM is doesn’t concern me as much as it should, I still have faith in RHM!

I have been reviewing RHMs announcements and had the following thoughts:

• Howard Dawson in his chairmen’s address stated that Buena Vista will be capable of commissioning within 12 months of finance being secured. He goes on to say that he has a production target of March 2013. So one would assume that he expects finance to be secured in March next year?
• The Financing update released on the 17th of November states that the Company is working towards a project optimisation review which will be completed in December. So perhaps we will receive an announcement in regards to the results of this review before the end of the year? It would be nice to get a bit of an update to just reassure the market that things are going along smoothly.
• I was also wondering about the Veritas Securities Report released this year. The report valued RHM at 1.41 if it could secure financing from a financial institution if the Heebi deal fell through. I know you have to take these reports with a grain of salt, but do people think valuation is realistic? I have noticed that the Veritas report is no longer available on Richmond’s website.

I agree with many posts on Hot Copper that we will not see to much change in the share price until finance is secured. Let’s hope we get the finance announcement soon. To everyone who posts on this thread, keep it up. It is always interesting hearing the thoughts of fellow RHM holders. Cheers to a big 2012!