RMS 5.78% $2.12 ramelius resources limited

We like to refer to RMS as the Golden horse, not the RAM....

  1. 32,651 Posts.
    We like to refer to RMS as the Golden horse, not the RAM. lol

    There are no reserve numbers atm. They are still drilling to find out the extent of the Wattle Dam resource. So far they have only drilled 150mtrs down and just outside of the envelope of the existing dam. The current drill results show that gold extends down dip but not how far. They will be starting diamond drilling asap to get a better idea of the depth. The possibility is, based on other local mines with similar geoplogy, that it could be 1500 mtrs. The other exciting possibility is that they hold tenements along a 7km strike zone back to Eagles Nest and logic says that they should find more gold along that strike zone.

    A bit of simple maths shows that the blue sky possibilities are for RMS to have 10 to 50 times plus as much gold as is indicated by current mining and drilling at Wattle Dam. Keeping things in perspective, it would be highly likely that there is at least a minimum of 5 times more and the real potential for $5 to $10 SP in the future.
 
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