Chart, page-1159

RMS Presentation from yesterday.



They have done some good work in the past 10 years, but this chart isn't anything special for a $2.8b business. There's a lot of capex dollars going out in these years on lower grade projects and people don't think they won't have some sort of cost blowout somewhere?

SPR has the potential to produce 50% more ounces and at far lower cost, using a one-off capex more than likely funded from cash in the bank.

SL and his team have earnt the right to get this up. Any RMS - SPR tie up is just silly talk, we don't need them.