Interesting....
So the underground has been removed from the mine plan for now....
So far... RMS has paid over $900 AUD per ounce from MGV, with a further $27m on pre-production, so... all up around $1030 per ounce.
AISC will be $1585, so all up, $2615 AUD.
As you mention
@Patron, MZ is keen to include the increased cash position... MZ is trying as hard as possible to bolster the share price before... what I assume is likely, a move on WGX.
RMS have more than enough cash to move on Stage 3 Edna May, but... it clearly does not stack up, even at $3500 AUD gold prices.
So again, RMS has a small window of opportunity where Edna May is producing, Penny is running hard and the cash position is strong.
I have a feeling RMS are going to release anything and everything they can in the next few months to further bolster the share price (Eridanus cutback, rethink plans for expanding the mill, further U/G mines restarted etc etc).
I am quite biased, as I hold a lot more WGX and SPR for that matter than RMS, but it does not change the situation RMS finds itself in.
Though hat tip to RMS, they have front loaded production at Mt Magnet in the near term and profitability is a key driver for investors (for those interested, this interview discusses gold, debt funding and quality companies (14m-27m roughly), and they explain why they are not interested in RMS over.... other producers).
Fundies views on Uranium and GoldGood luck to all holders, the RMS team are some of the best managers in the sector, particularly in regards to strategic moves.
(20min delay)