Chart, page-322

Thank you writer, and yes indeed
And I am indeed - very beholden to those who illustrate this story with facts, theories, and that all important price ‘lifeline’ : )

To veer away from charts - just for a moment - I saw Australian Mining posted a similar story to that shared here from theWest Australian today by @Peppie [on the RMS thread here]

Spoiler : It is in here for anyone who wants a read

https://www.australianmining.com.au/ramelius-hits-record-annual-production/
Ramelius hits record annual production

OLIVIA THOMSON4 hours ago


Ramelius’ Mount Magnet gold mine. Image: Ramelius Resources

Ramelius Resources has achieved record gold production for the 2023–24 financial year (FY24).

The gold miner produced 293,033 gold ounces (oz) within an upgraded guidance of 285,000–295,000oz for the full year, as well as 82,058oz for the June 2024 quarter within an upgraded guidance of 75,000–85,000oz.

“Given the outstanding production performance, the company expects the full year all-in sustaining costs will be at the lower end of the upgraded guidance range of $1550–1650/oz,” Ramelius said.

During the June quarter, Ramelius generated underlying free cash flow of $137.3 million and paid $10.1 million for the Musgrave acquisition stamp duty, allowing the company to conclude the quarter with $446.6 million in cash and gold.

The company also boosted the mineral resource at its Eridanus gold project in Western Australia by 64 per cent, where it now stands at 1.2 million ounces, and the Department of Energy, Mines, Industry Regulation and Safety approved Ramelius’ mining proposal for the Cue gold project in WA.

In late June, Ramelius purchased 98.5 million shares in Spartan Resources, a gold company currently developing the Dalgaranga gold project in Western Australia.
This represented 8.9 per cent of Spartan’s ordinary shares on issue.
Prior to the June quarter ending, Ramelius purchased another group of Spartan shares worth $92 million, equalling a 17.9 per cent stake in the company.

When Ramelius purchased its first lot of Spartan shares, it said it had no intention of making an M&A bid for Spartan like it attempted with Westgold Resources in May.

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… A lot of media types remembering that rather fateful statement of 27/06/2024 that accompanied the first RMS buy
https://www.rameliusresources.com.au/wp-content/uploads/bsk-pdf-manager/2024/06/2739783.pdf
“Following the purchase of Spartan shares, Ramelius has $446M in cash and gold, and its operations are forecast to continue generating significant free cash flow over the medium term.
Subject to the actions of Spartan or any third party, Ramelius has no current intention to acquire control or make a takeover offer for Spartan…”

I know there’s many here who disagree that Mr Zeptner was expressing a true opinion back there, but I will continue to think he was stating a fact that will indeed hold (unless/until Spartan or mystery third parties do something to change the game).

As far as that beautiful ascension on the chart goes at what point is it healthy to bivouac for a while for some price R&R?

And yes I agree @writer - such a lovely chart and such a lovely story that is such a wonderful exception to the ‘rule’ that one cannot make silken purses out of the ears of a pig!

Cheers