Ann: Ground-based EM Survey to be completed at Penny South, page-7

I agree wholeheartedly. Never been a fan of nearology as usually it is referring to kilometres of distance of opposed to 500m.

This is a pure Asymmetrice Risk/Reward play for me. The tenement is 500m south of Penny North, theres an existing high grade lode that dips south and south and even in the instance that they have a handful of high grade hits and cobble together a 20k to 50k oz resource there is still some inherent value in that for RMS that is many multiples of the existing SMX market cap. RMS paid $210m for 355k oz with gold at circa $2500 oz (now trading at $4100 oz) so its not to much of a stretch of the imagine to believe there would be an offer forthcoming if the results prove a continuation of the lode.

Worst case scenario there is nothing there the SP dives and they divert the remaining cash to a different asset.