@frader Not downramping. I had never heard of the company until...

@frader Not downramping. I had never heard of the company until a post tagged me to have a look. The Dianne project has mined a total of 63,758t @ 22.7% Cu for a total production of 14,473t Cu. My figure was generated by looking at the cross sections and extrapolating the 14,473t of production to the area of the lode which is unmined but drilled, I assumed that the grade was the same (that is unknown because historical drill results are not presented).

I had read the prospectus but I have had another look.

From the prospectus, "Recent deeper drilling by Revolver found the Greenhills zone is characterised by relatively fresh greywacke
and shale cut by hairline fractures filled with malachite, cuprite, and native copper." "Minor disseminated copper mineralisation occurs on both the hangingwall and footwall of the massive sulphide, but it does not display the consistency of a pervasive envelope or halo."

So the Greenhills zone does not show the consistency of a pervasive envelope or halo. RRR drilled 4 RC holes and shows some rocks with pieces of native copper as described by the consulting geologists report in the prospectus. The main results from the 2020 Dianne deposit drilling program are summarised below (Terra Search, 2020):
• "All these holes drilled to the west, the holes collared to the east of the lode passed through the Eastern Copper zone (oxidised), then drilled oxide/supergene section of lodes (Figure 13 above). No massive sulphide intersected. All holes encountered leached altered wall rock on western side of oxidised lode, then drilled oxide copper through Greenhill zone."

From the prospectus the RRR RC drill results are:

DMRC001 - [email protected]% Cu, [email protected]% Cu and a small number of 1m intersections to 1.5% Cu over 1m
DMRC002 - [email protected]% Cu, [email protected]% Cu, [email protected]% Cu and a small number of 1m intersections to 0.9% Cu over 1m
DMRC003 - [email protected]% Cu, [email protected]% Cu, [email protected]% Cu, [email protected]% Cu, 1m@1,16% Cu
DMRC004 - [email protected]% Cu and a small number of 1m intersections to 0.94% Cu over 1m

The mustard coloured drill intersections are above 0.25% Cu. The drill results show this is comprised of a number of small high grade intersections, a similar number of medium grade intersections and a lot of rock to bulk out to >0.25% Cu. I would like to see what this looks like when it shows >0.5% Cu.

The share price increase since the IPO is fantastic, one of the best IPO starts for the year on the ASX. What I was trying to point out is that it may be time to take profits and look to buy back in later on dips. My honest view was it has run too hard and a pull back will occur. I am not saying that the ground is not highly prospective, it is.

I will disappear from RRR HC threads forever after this post however the other poster is on ignore because it is pointless to try to debate when I am being told I am a liar and I don't know what I am talking about, yes I looked up IYKYK. Also the poster was trying to put words into my mouth, for example I never said I would buy at 20 cents just that "I may have said different things." So the mock confusion was clearly baiting. The statement that "some of the securities I hold are down" is based upon no knowledge at all. Why does the average entry price I paid not matter? Sure some, like I said HMX, are down from the highs however I gave no entry price to indicate if I had made a good or bad decision. As to where to place money chasing shares up because they have gone up fast is a bit like the triumph of hope over experience. None of the companies I own shares in own only 25% of even one project so this is clearly wrong. Even if it were true 25% of a large pie is better than 100% of a small pie on many occasions. Now where did the 50,000t Cu in that post come from? 3.45 times the previous production. I did read the prospectus and yes there are prospects worth exploration $. 80% escrowed shares means nothing to the market cap.

So good luck to all RRR holders. I really do hope you find the big VMS and a few gold depsoits as well. I will not bother you again.