tks @kingtuttto re-approach it in even more detail - and all...

tks @kingtutt

to re-approach it in even more detail - and all imo

Maronan is a great project - but I expect it to require a bull gold/silver metal price context to float.

because it goes so deep - to prove it up then mine it it will be quite capital intensive vs projects within 100m of surface.

- but because the grades are superb vs most silver projects in Australia - its a very high value project at high metal prices that justify mine spend - but a very low value project if metal prices are low. ie extreme leverage - higher risk/higher return potential

high grades mean it can produce a lot of mined product in a given year at relatively low capex intensity. So its going to be a relatively high cost to drill and excavate - but super sweet payback lower capex/income ratio once that spend is done

but that all means a lot more money has to be spent prior to any income being generated than free dig, near surface projects.

= sentiment on Maronan and a float will flip more extremely depending on metal prices, vs lower risk/return projects

= likely needs a strong silver price re-rating environment to float.

the investment market doesnt tend to bid lead much valuation wise. Its money flow once a mine is up is valuable as is the low risk certainty of what revenue it generates

- but its not sexy to investors like silver/gold/lithium/cobalt etc. Though there was a time in 2005-7 when lead was sexy.

Its all about how much upside it shows. No one cared about thermal coal for 40 years then it went absolutely nuts from 2002 - so all things can change


So - imo you arent going to see the MMA float until Silver breaks above $28.50 sustainably - ie moves into the next higher technical range

and one of the things algos and pros do is that when key metal prices are either falling or just going sideways - usually the metal stocks actually selloff - even if the metal prices are simply going sideways like silver has been

part of that is a shwifty misdirect to trick people into selling shares cheaply

part there is just low volume retail dribbling as punters get tired and canny investors just lurk below to buy shares on the cheap


thats about the 4th time ive bothered explaining it in ever increasing detail.

hopefully its increasingly clear and people can stop rehashing it

as to the broader question about where to for RDM - thats one to put to the MD.

Im primarily interested in Maronan personally. The other projects may be great - but I tend to invest only on projects where some resource has been identified