RDM 5.08% 14.0¢ red metal limited

I doubt Rob would deliberately waste valuable cash on a non core...

  1. 2,940 Posts.
    lightbulb Created with Sketch. 1036

    I doubt Rob would deliberately waste valuable cash on a non core asset. He is probably drilling to fulfill EL commitments which possibly results in EL surrender. The $200K grant obviously made it worthwhile. WA resource regs pertinent to RDM are;

    1. That at the end of year 6, you have to surrender 40% of an EL.
    2. You can hold an EL for a maximum of 12yrs. (2 x 5yrs plus 1 x 2yrs).
    3. If A ‘holding’ title for a mineral resource that has been identified but is not able to be further explored or mined then the above rules do not apply.

    I compared the March 2021 quarterly and the latest quarterly and 9 of the 15 Nullarbor EL's held in March qtr 2020 have been surrendered. 6 remain of which Forrest is one!
 
watchlist Created with Sketch. Add RDM (ASX) to my watchlist
(20min delay)
Last
14.0¢
Change
-0.008(5.08%)
Mkt cap ! $41.93M
Open High Low Value Volume
14.5¢ 14.5¢ 14.0¢ $14.46K 102.2K

Buyers (Bids)

No. Vol. Price($)
3 111238 14.0¢
 

Sellers (Offers)

Price($) Vol. No.
15.0¢ 100000 1
View Market Depth
Last trade - 14.00pm 20/06/2024 (20 minute delay) ?
RDM (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.