Phew... Diggers is really wearing me out with so many excellent...

Phew... Diggers is really wearing me out with so many excellent presentation (though of course I have my favorites).

First... cannot help but get a little excited about the potential of Golden Wings U/G.... a while back I did ponder why the presentations (for a few months) seemed to hint that there might be something under Golden Wings - So while I could ponder all things T/O.... in regards to the...
SL briefly discussed that there are no deep holes (the deepest I have found is 99m) at Golden Wings.



SL confirmed that they are current drilling Golden Wings as we speak ( would love to know if its RC or DD?).

SL also admitted that the radius for high grade deposits is now 3.5kms (so that Golden Wings fits in), but I am sure the Geo team would love to take a few shots at targets even further afield (especially as the whole belt is prospective and... as SL believes, could be a gold camp to rival Mt Magnet, "belt scale opportunity" & "regional scale play").

SL and MZ (I will get to RMS later) both spoke very professionally, I would argue, two of the best at the whole event. I also appreciated how cordial they were to each other, even though I have no doubt they are incredibly proud of the respective companies.
I guess I won't try and quibble with SL regarding the exploration target, though I did like he was honest and open about it.

I also liked how focused SL and the team are on brining in every possible ounce to the eventual mine plan. Front load the hell out of it (which I think they can do with NN/Pepper as the main source of ore once ramp up is completed).

Very interesting to hear SL compare, or liken Mt Magnet' and the Dalgaranga systems, as that perhaps gives a bit of insight into why RMS might like SPR main asset so much, they know Mt Magnet after over a decade of operation and exploration. It's like... Dalgaranga is in their backyard and its look very similar to theirs.

Must admit I really liked RMS video of Penny like SL. Companies don't seem to provide many insights into the mining like MZ did today.
Dare I say it.... RMS & SPRs presentations were quite complimentary.

I guess all I can do is also say thanks to SL and his team, as like many others, GCYs resurrection into SPR has been an incredible boon.

In the RMS presentation, MZ mentioned that the BD team (business dev) "are continually analyzing opportunities, and at Dalgaranga we liked what we saw". His choice of words when he tries to tie the holding in SPR in tandem with RMS internal growth projects sort of implies they already view Dalgaranga as.... in house, hmmmm..... (2:30m mark) - MZ speaks

Which... if anyone has been paying close attention, might have noticed that RMS dropped this slide from their presentation after March 2024 (the green square and tick are mine....). Then March, the slide has been replaced with some excellent graphs showing RMS profitability. Though to be fair, it is sort of hard to say you are aiming to acquire a 3rd hub, when you are putting your second 'hub' on C&M next year.



MZ also tries hard to reiterate that RMS is.... and I agree, incredibly profitable, yet the market seems to focus less on that in regards to RMS (which... is sort of fair as everyone knows, unless they find another Penny, the next 12 months are as good as it will ever be at Mt Magnet).

RMS does have a serious amount of fire power though, with... over $500m in cash/debt (excluding the $200m worth of Spartan).

I did really like how RMS views Eridanus open pit, and galaxy, when combined will change the way Mt Magnet has operated for... a decade, from lots of small open pits, to... 1 large one, with 1 large U/G (Galaxy). Then..... Cue and Penny are a bonus (if they find more ounces later on).
Galaxy looks like it could easily run for 10 years, instead of the current 5. I still think the plant upgrade at Mt Magnet is red herring, with Dalgaranga arguably having 1-1.5mtpa of slack processing throughput if SPR only focus' on U/G. But.... it's a good strategy for RMS either way.

I still find MZ discussion on Rebecca/Roe as... slow going. Just seems to be no rush to get it into production....

Apologies for the crossover of discussion about RMS, but... seems relevant considering we could easily be weighing up if we want to accept their script.

It's almost like a race.... SPR has the drill bits spinning, RMS have the cash generation....