Fair points Peppie, but it would be remiss of me to not show RMS full production profile, not just Mt Magnet profile you include (even though Rebecca/Roe will need $300m+ to get into production, it is going to happen). Then RMS starts to look more like a longer life, 250k p.a producer.
@Joelstar makes a great point about RMS future FCF.... hard to beat in the short term (and... if patient enough, over the longer term too). Whilst I continue to be unimpressed with the Mt Magnet plan in the medium term, I am... not blind to returns that will be made. RMS is now trading at an E/V of less than OBM.... with it's 2 years of reserves!
As for any potential tie up/merger, I am on the fence. As my investment/capital grows, I find myself becoming ever more concerned about downside protection, versus upside blue sky. Still lots to play out IMHO.
SPR Price at posting:
$1.41 Sentiment: Buy Disclosure: Held
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