After the disappointment of first pass drilling at the Irindina copper-cobalt project RDM has retreated to its previous sideways consolidation range and appears well supported at the current lower level (illustrated by the increased volume). MACD is on the turn, Stochastic indicator has crossed and coming from oversold levels.....
With the exploration team focus now on advancing the company's zinc targets on the Lawn Hill project, and the current market cap arguably more than underpinned by the company's Maronan Deposit (JORC 2012 compliant Inferred Resource of 30.75Mt @ 6.5% lead, 106g/t silver (using a 3% lead cut-off grade) and 11Mt @ 1.6% copper and 0.8g/t gold (using a 1.0% copper cut-off grade). This equates to about 2Mt of lead metal, 104.9Moz of silver plus 170,000t of copper and 300,000oz of gold.) RDM is worthy of a watchlist in this rising metals/zinc environment (imo)
