Hmmm. Underwhelming is the word, though on paper the production profile for RMS from 2028 looks ok… but that is years away. NPV is… not great.
I am being harsh… or am I just being realistic. Bec/Roe clear need a heap more drilling, or RMS need to acquire a high grade satellite deposit to make this project a real goer, or was it already known by the RMS team that these assets were an excellent way to enlarge the market cap, boost their cash pile to enable them to have taken out Katie’s or WGX like they tried to earlier this year.
Now it’s all about the Eridanus pit/option and whether that can move the dial.
let me end with… having an extra 850k in reserves looks nice on paper, but RRL used McPhil reserves for years, yet it may never become a mine…..
RMS Price at posting:
$2.40 Sentiment: Hold Disclosure: Held
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