favourite pick, page-7

Thanks Legume for the excellent background info on JORC.
The basis for my investment in RMS was always the huge grades they found in some of the drill holes. So when the first JORC came in at 70K ounces I was surprised like many others. The grades achieved to date have been way above estimates and that holds out a lot of promise going forward.
However, this is an investment not a bet. So I look for clarity to support my strategy.
Given the management went directly to mining from initial exploration, why haven't they used some of the income to firm up the JORC and map the full extent of the ore body? Investment companies, which are the main drivers for share price rises, would have trouble justifying an investment in a 140K ounce gold mining company. Unlike us, they cannot invest based on a warm feeling, but need to have verifiable information.
Is it the intention of management to mine 140K ounces of gold and then say to the market, "Look, you got it wrong and we have more!" To me that is not going to really kick the share price along much. Investment companies will just shrug and continue to invest in NCM, NEM, LHR etc.
It seems to me that if management had spent the money on getting a more reliable JORC rather than commencing mining, then the share price would still be in the region of $2 not 50cents because they could have then held up a piece of paper that said "1 million ounce resource" or the like.
In the share market it is not the reality that counts, it the the perception. At the moment, the greater market sees RMS as a 140K ounce mine and when they mine their one hundred and forty-first thousandth ounce, it is hard to see the share price shooting to $2.