grade is king /cash to secure grade !

The Ramelius Board adopted a smart strategy , which produced an ultimate cash windfall with their last minute counter offer to acquire Dioro ...upping the Avoca low ball bid .
Now ....they have adopted an equally smart strategy .
*Buy Mt Magnet cheap , but being critically aware that the low grade reserves are only marginally profitable
*drill the nearby openpits and optimise the open pit mine life still at modest profit margins ( approx +$500 per oz at current prices
* based on the assumption/knowledge ( and drill testing to date ) that the viability UNDERGROUND is exceptionally good to extend the mine life far beyond 6 years , find ( by drilling ) the best way to tap into the most profitable underground option or multiple options ......

AND IN THE INTERIM .......
* Assess what's happening around you .
Doray has aN EXCELLENT HIGH GRADE discovery at WILBUR just 60kms north of Meekatharra , and has an aggressive drilling programme to extend the JORC RESOURCE ( by plenty!!)
Doray has an excellent suite of tenements in the area , some closer to Mt Magnet and some very close to Silver Lakes' Tuckabianna .
Doray has a current market cap of $83 million , including $15 mill ( approx) of cash .

Whilst Wattledam just continues to go $$$cashink $$$cashink , Ramelius has just used that cash to maximum advantage ..ie
* see what Doray has , in a re-vamped JORC RESOURCE by year end , but knowing the grade and the underground potential is the RMS expertise .
* see what THE GRADE might do to the Mt Magnet current modest cash flow , whilst RMS continues to explore the underground at Mt Magnet.
* have a 5%+leg in to a strategic asset in Doray . Someone else wants it , RMS profits ...RMS wants it , well we have already acquired 5% + at very modest prices .
Excellent use of cash flow , RMS Directors ....keep up the good work .
cheers
Maplelegion