Ann: Mineral Resource and Ore Reserve Statement, page-4

Truly... RRL are trying to win the award for best dressed pig!
8 Year mine life.... seriously... what a joke.

The reserves clearly show, that if you take out McPhil, the reserves for the mines in actual production.... is... less than 4 years!
It's even worse when you take out Tripicana, which leaves the Duketon assets with a measly 950k in reserve. At current rates, they barely have 3 years at a run rate of approx 310k p.a.




It's impressive how they try to put lipstick on this update...




First read through and some might actually think the RRL has replaced it reserves and expanded their MRE... NO!
Reserves are down over 540k for the 12 months......



Resources..... um... yep.. they have been smashed.... they say because they are more likely to be U/G ounces now.... I say, because they have become uneconomic to mine full STOP.

I mean... I guess you can barely notice the reduction.... of 3.3 MILLION ounces.



When oh when is RRL finally going to come clean about their whole future growth profile.

If my small holding was not in super, I would rid myself of this anaemic dinosaur of a gold company.