RDM 6.90% 15.5¢ red metal limited

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

  1. 2,992 Posts.
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    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!
 
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