I read most of your posts and appreciate your dedication with your projections, calculation etc. I do not have much more constructive to offer but I would like to share a few thoughts to where we may be in a few years.
About 5-6 years ago I went to a raising stars presentation on the Gold Coast, at the time I had interest in one company which was presenting and shortly after there was a presentation by Bill Beament, Northern Star who at that stage was not as well known as today. Few statements he made in his 15 minutes speech are still vibrant in my mind as then. One was we just bought I think Kundana and Jundee for, do not hold me exactly to this but say $50 million and it has a plan with a replacement value of $ 200 million on it. He then explained that they straight away brought in the drills to start on the organic growth happening and then ended by saying, this is how we operate at Northern Star!
RVR remains me a lot of the way Northern Star progressed with a founding resource, eliminating their debts, buying undervalued assets, bringing in the drilling rigs resulting in organic growth and we can see the big picture happening. Along the way I am sure mistakes will be made and not all assets are as they seams and until we have concrete evidence as how Hillgrowe is going I think this is the reason our share price is taking a rest. Even Northern Stars did not recognise Plutonic for what it was but I am not saying this is how Hillgrowe is shaping up, let’s keep an open mind until proven.
In conclusion, the worst case scenario is, it is already paid for, so any changes can only be positive from this point on and yes we can look forward to move from one mine to 4 in the next 1-2 years and I am looking forward to it. I may have put doubts in some readers but I think management is doing a great job and I do believe in RVR to the point that my portfolio is heavily invested in it.
RVR Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
