What the hell is Ramelius Buying?, page-28

I don't think that the democrats have been slack on the bombing, in case you missed the bit where the RAAF has been bombing ISIS in Syria and Iraq for the last year.

But as to whether RMS is buying a gold project...

I wouldn't think they'd be in a position to buy anything of MLX, because MLX is going through a demerger of their gold and base metals divisions. This process would require MLX to quarantine its tenure and cash balance from anything too out of the ordinary (ie; nothing requiring shareholder approval, and nothing considered of "significance" to investors) while the demerger is taking place, otherwise holders could consider themselves poorly informed about things midway through.

Post-demerger, maybe MLX wants to shed a few dogs of projects, but why would RMS want to pick up someone else's dogs and soggy fag-ends when it's just cleared the decks of its own soggy fag-ends? Doesn't make sense.

I also don't know there's much logic for GCY to sell Dalgaranga to RMS. It's GCY's first Reserve there, and although its not amazing it's theoretically enough to get going. Dalgaranga is also o par, in terms of tonnage, grade, contained ounces, with GCY's Gascoyne project. It makes no sense to sell literally half of your projects just because your neighbour has a mine running, just to stick to your namesake project. That doesn't mean RM wouldn't necessarily want it, but I doubt GCY would want to sell it cheap enough.

This leaves few options for nearology growth for RMS. Maybe Paynes Find, but the tenure position of the PF greenstone belt is turds, to put it mildly, and tied up with legal issues and lawsuits; there's Sandstone, but it's heavily explored already and too far (150km) to sustain low-grade trucking of ore. High grade is essentially absent at Sandstone without a lot of work, so I'd doubt that is interesting to RMS.

The Meekatharra tenements might be doable, but if Reed Resources couldn't make their "super pit" concept fly, you have to wonder.

This means that RMS has to look much further afield to buy a gold asset, and unless they're considering buying Barrick out of its share of the Golden Mile (lol) there isn't really anything on the market to buy at the moment. Mostly because NST and MLX bought up all the small stuff 3-5 years ago.