Although this preliminary study is based on inferred resources...

Although this preliminary study is based on inferred resources and needs to be treated with some caution, it is still very positive.

Having been in contact with Rob today, I can say that RDM were (happily) surprised by the low cut-off grade of about 3.1% (due to the soft & coarse nature of the lead-silver ore). This grade greatly impacts the potential economics of the project and the size of the potential mineable deposit. Their initial belief was that the bulk of the deposit started at about 300m below surface, however, with the lower cut-off, it comes to about 90 meters, which significantly changes the cost basis of the project. Being able to generate early cash flow is important.

Unfortunately, due to ASIC rules on discussing inferred resources, they couldn't include any cashflow models/production forecasts in their announcement.

So, we have more drilling to look forward to, with the eventual aim of monetising the project down-the-track.

On a separate note, the exploration permits they recently acquired (pg. 15 of the Dec quarterly) relates to some dirt that is highly prospective for zinc. Early doors, but they have started some target generation work, so I am looking forward to hearing some news on any potential opportunities that may arise - in addition to their other base metal assets that need drill holes.