100 million in the bank, page-21

Mt Magnet has had gold mining since 1891, there are tens of thousands of metres of drilling and many man years of geological surveys, study and analysis. If you are going to do a large open pit mine and you do not have all of the necessary skills on site, being in WA is probably a good place to be with the Department of Mines bureacrats looking over your shoulders - who by the way have seen open pits fail in almost every imaginable scenario - and an enormous reserve of professional and technical expertise in the mining community as to how to do these things, plus of course the thousands of hard heads who actually drive all the machines available to bring all that experience to the task. I think Mt Magnet is going to prove to be extremely profitable and is on a scale and with resources that gives RMS a very big future in gold mining. The improvement in cash at bank in the last quarter is after all of the expenditure in the quarter on Mt Magnet mine plans, village refurbishment, assays, exploration at the other green fields sites plus driving the Wattle Dam mine down to near the bottom of D zone which is going to deliver that rich ore till the end of 2013, can't wait for the deep drilling there to get underway. RMS is a real gold mine.