downgraded earning?, page-37

Must admit the first reaction to the production update was one of disappointment and frustration. I was a not prepared for the MM production figure of 9600 ounces, especially when they were still providing guidance of 12000 ounces in the March 11 roadshow presentation.

The Percy pit is a dud, we are screwed was my initial reaction..... Could be time to hit the sell button and crystalize some very healthy profits.... I must admit this was the first time my confidence in RMS was shaken since my initial purchase in Feb 2015 after watching the stock for years.

Bugger this, back to the fundamentals.... What is the worst case scenario if Percy continues to underperfor and all else stays on course?

If the 3 year ore schedule produced on page 11 of the March 11 roadshow is on track, then Percy is a non issue from July, Boomer and Brown Hill pits ( grading 2.9 and 2.6 g/t respectively ) are already being mined, and the show goes on as planned.

Do we have a bit of an overreaction to a miss in production from one nearly exhausted pit resulting in a miss in AISC for 1 quarter...I think so......time will tell but I ain't selling.

Cheers

Dan