Sorry just one final thing I found.
Sure Edna may is not operating at maximum capacity yet, but this does not mean that it is not generating cash flow. Here from the latest quarterly update.
"“Another solid Quarterly result from the operations team, with the Edna May operationstarring once again to the point where since acquisition, the operation has generatedenough cash to return in full, our initial effective purchase price of A$38.4M. To achieve thiswithin 12 months is a credit to the team at Edna May.”
To confirm this their cash balance has gone from $95 to $102M after $14M expenditure on acquisitions and Capital. That is a cash profit of nearly $20M in one quarter. They have consistently met guidance so as an investor I remain confident they will continue to do so. "FY2019 is forecast to be another very strong year with gold production of approximately200,000-220,000 ounces at an AISC of A$1,150-$1,250/oz. (from the offer document)
Acquisition of EXU will benefit RMS, but remember as 20% holders in RMS you will also benefit from this cash flow, as well as future cash flow from EXU holdings, as well as 20% of the $102M cash on hand, as well as a free mill. Sure you may do a bit better doing it on your own but the above benefits are risk free and start on day zero. In 2 years time you will have made enough money to sell a small share and invest in the next Disallowed! This is investing talk and not taking lottery tickets!