Hi Clubbeta, Your IGV question is valid, but impossible to...

Hi Clubbeta,

Your IGV question is valid, but impossible to answer with any confident authority, due to the lack of depth data. A more pertinent question is: Given the recent JORC compliant resource calculations, how will RDM play it from here?

As FiendishRedbeard has correctly stated (which I can confirm from my previous discussions with Rob), any future testing of the depth extensions would almost certainly involve a JV partner.

Ignore my previous post. I was just using a simplistic valuation method based on the info in the 27 October announcement.

I contacted Rob (today) and put to him my thoughts (calculations) on the Maronan project as is. I felt that management could receive around $140 million for Maronan if they were to sell it tomorrow. Rob kindly pointed out that I shouldn’t use IGVs - as they don’t reflect the potential profitability of resources. Point taken, and I will wait for any future announcements that will outline the results of their mining scenario studies. The outcome of these studies will drive the SP in the coming months.

Cheers,

Deme