LOM?, page-5

RC,

Mate I just put the two together because they are being mined at the same time - it was easier to round the two to 100koz.

Eshmun - thanks for confirming re the depth - you'd think I would know more about how all this works given the number of shares I hold but I'll give it a go.

I would have thought the amount mined is completely different to what is milled given that ore has to be transported, crushed, grinded, leached etc etc. i.e. there is a delay of some time between mining and milling. I've read that leaching can take between 1-2 months - I've got no idea how it works at Mt Magnet other than to say I think there would be some sort of time delay.

What I was trying to get at with my previous post was that the higher grade material mined in the Dec quarter may not actually be milled (or come out of the mill) until the March quarter and hence we can expect a return to higher grade ore.

If you look at the Sept quarter statement, the amount milled was much more than mined unlike the Dec quarter - I've read the comment re KV being ahead of schedule as meaning they were short on higher grade ore as Titian was still being stripped, and they had to use low grade stockpiles or some of the low grade ore stripped from Titian.

Does that make sense?

Also does anyone know the company means when it refers to low grade ore - do they mean they are using ore below the 0.7g/t cutoff and hence they are not actually eating into resources. RMS did state in the Sept quarter they were mining significant low grade tonnages additional to reserves from Titian. (page 3) hence the lower grade ore milled in the Dec quarter.

Also I went back and had a look at the Jun 16 accounts and there is 7m in stockpiles and 7m worth of gold in circuit. Inventories are measured at cost so they must be quite a few ounces stored as inventories at any one time i.e. time delay. Interestingly enough, they stated that they had about $5.4 million worth of gold on hand so presumably this is included in inventory - I would of thought it made more sense to show gold on hand separately to gold in ore stockpiles or gold in circuit.

Alphonisis - nice post - what I like about the RMS exploration is that its taking place around pits with existing resources so additional discoveries will only add to the size - Morning Star is especially exciting since we know it goes all the way down to 1200m - same with Galaxy - the old Hill 50 also went down a long way to 1500m so it will be interesting to see how far Saturn and Mars/Mercury can go.

IMHO/GLTA

Cheers
Sam