D25, I never supported RMS management, as I have stated time and time again we have no idea who management are. I wouldnt be surprised if all the work is outsourced to vendors who are friends of Ian. I do like Joe Houldsworth however.
UTS: I can't ever remember a non-property company writing up asset values? Definitely never in my memory have I seen a mining company write up asset values, apart from the EOM adjustments to inventory on hand. Happy to be proven correct but i have read over 2000 annual reports on companies listed in the US / UK / Euro and Aus and can't ever remember seeing this happen.
I still expect the 1st Quarter results to be cash flow negative and am expecting a cash balance of less than 30m for RMS, possible low 20's.
Did anyone pick up the comic relief that was slipped into last Quarters review... the "ABANDONED" Wattle Dam mine somehow produced 1777 ounces of gold.
If an abandoned mine can produce 2.6m of revenue... imagine what it could produce if you actually started producing from it?
Anyone else dipping their hand into the ERO rights issue?
serious upside, page-15
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