Hi guys Wattle Dam was very profitable, with excellent grades -...

Hi guys

Wattle Dam was very profitable, with excellent grades - at first. However the gold distribution was very erratic and deeper drilling which showed true bonanza grades led them astray.When they went after it, the ore was inconsistent and costs rose.

They made a big call and bailed out early, and sold the tenements to TYK in a script only deal.

Depending who you listen too it was a either a hard but necessary call - or a huge mistake.

TYK is now - maybe - on the verge of declaring a decent Resource very close to the old WD, on the former RMS tenement. Maybe....

TYK is of course being run by Joe Houldsworth, who developed WD for RMS, and his Head Geo from the WD days, Matt Svensson.

So RMS bailed out, saved its cash while it still had some and used it to buy Mt Magnet.

With higher than expected costs at Mt M and bad luck in a major mill failure the RMS story soured fast. The SP tanked...

However they now have a handle on things at Mt M and they are down to richer grades, wth much lower costs. I do believe they turned the corner months ago and are now surging to serious profitability. With new mines planned, and also very interesting expiration prospects, Ramelius is reborn in my view.

Well - we will see! Meanwhile, it's fun watching the gold price yo yo..... Hoping it holds most of this spike, but fast ups often deflate just as quickly.

Best wishes and Good luck to all holders

Dave