Dear Members,Why couldn't the company get the AISC costs under...

Dear Members,

Why couldn't the company get the AISC costs under control? From memory, the company foreshadowed a cost of $1,750oz when they bought the Mt. Carlton mine from EVN.

Why was the company not focusing on the cheapest ounces to produce. They talked up the satellite pits, but who knows where the gold was produced from? Maybe management tried it's best.

Lind Partners from NY tipped in $7M recently, didn't they? How could it all turn to pot so fast. It feels as if the management were boys in a man's world. Overpaid EVN; couldn't be efficient with production or at least not get the costs of production down sufficiently; seemingly spent money needlessly drilling to help excite potential creditors.

The company had 7M shares in RBX coming out of escrow in July 2023, with a market value of about $1.3M.

I was never fully confident of success and didn't hold that many shares, but to fail so fast is outrageous. One must ask did management ever try that hard for the company? One can understand they wanted to generate money out of Qld to self fund the development of the company's wider prospects, but the abruptness of the appointment of the administrators and then receivers is sickening. The lines on the company website about being value creators ought to be deleted immediately...

Goes to show the benefit of limping in until management prove up the business. Failure has occurred in the past and will occur again, it's a matter of minimising the damage.

I'd be interested to read your thoughts on the situation.

GLTAH