RMS 6.54% $2.28 ramelius resources limited

2nd quarter activities and cashflow report , page-10

  1. 2,988 Posts.
    The info is from the recent investor presentation where they state that though the JORC for that high grade zone is 83000 oz based on CUT samples, this gives a substantial understatement of actual amount of gold, basically it gives the absolute minimum that should be there.

    If using UNCUT measurements - which given the number of samples returning high grades is more realistic, there modelling is that there is 270K ounces in the high grade zone. They stated that they will be aiming to begin underground mining shortly and will dig up and process the high grade zone over 12 months. They gave the cost estimates I used. They do seem fairly low though remember that the high grade zone is not that much ore even though there is a huge amount of contained gold.

    The challenge is to find more gold to continue operations into the future.
 
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