re: Ann: Media Release - Ramelius passes 100,... While we pat ourselves on the back for picking the best new gold mine in Australia, we should remember that the 800 tonne dumper truck in the room is there are only 40,000 ounces of gold left to mine (according to the JORC).
Before all you true believers get in a tizz, I make this point while staring at the 46c share price in full knowledge that we all believe there is more gold. Belief is not enough for the fund managers on Pitt Street. They need some meat before they part with their pension fund money. If the share price was $1.46 I might be feeling a bit better. If it was $2.46 then I might even see reason for celebration. But 46c is a disgrace for all long suffering shareholders.
And when the 141,000st ounce of gold is mined and RMS release an announcement pointing out the JORC is wrong, big deal, the share price will still be 46c.
It is time management proved up the resource so that the serious investors can decide if RMS is worthy of their cash.
re: Ann: Media Release - Ramelius passes 100,... While we pat...
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