Ann: June 2021 Quarterly Report and FY22 Guidance, page-32

I know a lot of people base their investing in gold stocks on being able to time when the gold price will take off. Good luck to them but for the many years I've invested in gold companies there has always been a significant element saying that the gold price is just about to take off. Sooner or later some of those predicting an imminent gold price take-off will be right, but not for me. I would rather find a solid gold producer run by a solid team of professionals and just not dabble in the timing the gold price lottery.

Also, plough, I do think that the Ramelius team have been fighting some headwinds of late: unusual rain, Edna May plant breaking down, shortage of labour, an unexpected delay in releasing the life of mine update (and the reports on Eridanus underground and Edna May Stage 3). Typical of the quality of the Ramelius team they have managed to minimise the negative ramifications of those events but I would expect that their efforts to do this have come at some cost. I suspect when they get a better run of luck they will have plenty of stuff in the to-do folder, including, hopefully, some progress with their "inorganic" growth plans.