Life of mine extension was completely expected, that is the...

Life of mine extension was completely expected, that is the result of all the drilling exploration costs we pay each quarterly. AISC has gone up for the LOM, not that unexpected for those following such things but maybe a nasty shock for some, so on the whole I would think this more bad news than good.

2018 guidance was previously 135koz@$1050 AISC now 128koz@1175
Future life of mine AISC have all been lifted about $50 from memory ... That is about $6M per year off the profit.

This was apparent earlier looking at the last quarterly and also in the May Hartleys report and has I believe been partially responsible for RMS decline the last few months, along with index re-balancing. Today's price action was in line with market, with all goldies sold off, slightly enhanced for RMS having a not so good announcement and it had also been up a bit higher this last week. In a general gold sell off you expect smaller market cap to move more, the same reason they go up faster.

So I really don't see why the utter surprise expressed here...

DYOR

PS I stand by my post last month that 38c is a good support to get in or top up, if you are bullish in gold. I do not recommend overweight RMS though because they have one of the lowest margins on the goldies I follow, high AISC and low price hedging, but I think good value at 38c if they bounce off support it would be a double bottom too.