Ann: Quarterly Activities Report , page-4

Just got home from work and was able to read through the entire activities report.... and WOW. Let me break down some important notes that are adding directly to the value of RHM by reducing costs or increasing revenue:

1. The mills that have been purchased with funds we already have will result in a "20 - 25% increase in plant
throughput over the 4.8 Mtpa under the feasibility study process route."

2. The proposed location for the tailings storage facility was found to be on a magnetic anomaly, which indicates more ore in the ground. As a result the TSF has been relocated to a flatter sire which decreases its cost by up to 30%. Im guessing that could be a saving of a few million dollars right there.

3. They are evaluating whether the TSF and mullock dump require a liner. If they do not that will save another $3,000,000 or so.

4. "Following consultation with the BLM, the power transmission line length to the project site can now be shortened by more than two miles. Relocation requires
modifying the project description for the EA and providing updated maps of the new location to the BLM. The ultimate result is a shorter transmission line amounting to
capex savings of several hundred thousand dollars."

Now thats a company who seems dedicated to getting this thing off the ground without devaluing shareholders stake. Super impressed to be honest, and just with the 4 points above should decrease the need for finance by about $5,000,000 plus the fact we have paid for $3million worth of rod mills which i assume where originally included in the amount needed to be financed. Now that might not be much when it we are talking figures if $161 million, but it shows the right attitude and effort to me.

Add on the component where it seems we underestimated the price our ore could sell for and it just puts us in a better position again by another 20%, straight to our bottom line.
I fail to see any reason why finance wont be granted, the only catch being WHEN it happens, but if Mr Market wants to take the SP down to 18c ill be more than happy to snap them up!!!

Good luck everyone!