riu resources catch up

Hi all

managed to spend a little time at the above in sydney. essentially was a whole heap of miners/explorers together at a trade show type event. About 50 companies on show.

Had a good chat with both Mike (MD/Geo) and Warwick (Chairman). It's clear they have a lot on the go with their hermes drilling and their individual drill holes and in ground EM of each of the priority magnus targets.

From all their recent drilling they are waiting on a lot of assay results across the above projects, so hopefully some good newsflow on either/both projects over the coming weeks.

I always felt that they would need to deliver solid results pre August to ensure good cashflow to fund further exploration from conversion of the oppies, and I hope the results from current programs delivers this.

With proven 130,000oz AU JORC already, ALY really has no exploration potential factored into the price, so at these levels happy to hold, and I intend to accumulate at these levels also.

I also think that with the volume of drilling they have and are doing at Hermes, it's only a matter of time before they look to upgrade their au jorc. Will be keen to see comment on this in upcoming announcements if the current exploration continues to go well.

Any evidence of massive sulphides on magnus will be a huge bonus from these levels.

Cheers
rexi