Breakout, page-223

Ok... so. Going to try and post this succinctly.
The following is very rough, but, above all just making sure I know where I stand with RSG over the next 2 years.

Ravenswood - Capex $135m (with the other $150m in a couple of years)
Syama  U/G dev - $130m (all numbers are in AUD) over the next 15 months. (although at a guess they have already spent approx $50m)
Bibiani - 2018/2019 development - approx $100m to production.

Total approx - AUD $315 million (spread over approx 2-3 years, but heavily weighted to FY18.

Then you have RSG with approx $290m in cash and equiv (although the current gold price increases the bullion on hand has increased by about $9m)
You have 70k ounces in circuit which will be drawn down (approx $120m)
Total - $420m.

Plus you have operating profit (which for the next 18 months will only come from Syama, Ravenswood will be somewhat lower production before ramp in 2019. So... it basically added $50m last quarter, I am going to assume it can do similar for the next 2 years or, $200m p.a.

So.... total capex 315
total cash etc    420
total profit    400 (2 years worth)
= $505m by June 2019

I won't bother trying to add all the efficiency/lower costs etc etc that RSG have proven to be able to do, that can be the sweetener. Also, there are other costs like exploration etc (so maybe take off $50m).
Still, more than half the market cap (and RSG will conceivably be a 500k p.a producer by 2020).

Happy to hold I guess.



Please do tear this all apart, its a bit of a rush job, but hoping I am closish to the mark.