RMS 1.59% $1.92 ramelius resources limited

Ann: FY23 Guidance achieved with $42.6M quarterly free cash flow, page-34

  1. 3,792 Posts.
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    A bit early to make that call. There's this prevailing opinion that Dalgaranga is some kind of poisoned chalice.
    I think this is a fallacy.

    The original failure was primarily caused by poor drilling practices which resulted in an incomplete model of the Gilbeys ore body.
    The project would never have been funded if there had been proper DD performed by the original GCY geology team. The Dalgaranga tenement package itself is severely under drilled in comparison too many other West Australian greenstone belts.

    The second near failure was directly related to the original failure. There simply wasn't enough time and money to access their other higher grade ore sources. In hindsight the company should have been allowed to fail the first time instead of NRW (which had alot of skin in the game) driving a hasty and undersized re-capitalization.

    Before GCY had the Dalgaranga project, Gilbeys had been profitably mined between 1996-2000 with 226k oz produced at a head grade of nearly 1.5gt.

 
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