Gold collector - classic whinge there mate. I am a longterm holder of RMS and I reckon if the deal goes through Ramelius has actually paid too much for Tampia Hill and you can thank to a large extent the Explaurum board for that. If they had not come up with the Alkane offer as a stalking horse I am confident that Ramelius would have picked up Explaurum for at least $10m less.
But no doubt you'll argue that Tampia Hill, the asset, is an absolute steal at $60m. Well compared to Mt Magnet it is not. Ramelius paid Harmony Gold A$40m in 2010 for Mt Magnet, and for that they got a proven gold camp with an existing 1.7mtpa plant, other buildings, 3.3m oz resources with 474k oz reserves with most of the approvals already in place to recommence mining. What is Tampia Hill currently? A resource of less than 700k oz and lots of potential. As Ramelius has already stated, as a standalone project Tampia Hill does not (yet) make it to the start line. Sure, Tampia Hill may develop into something special but as it stands today I reckon the Explaurum board extracted every last cent out of it.
Have you ever considered that you might have paid too much for your EXU shares?
