I have not posted for a while but there are many factors at play...

I have not posted for a while but there are many factors at play here.

Firstly, there are only so many investors & traders out there BUT there are probably hundreds of small resource companies, who are all out there drilling, to choose from.

So unless you have something exceptional (like CDU for eg) then at the moment you can get lost in the stampede. There are many companies that have share prices below what they probably should be. The question is, is RBM one of the most undervalued or not.

Until these next results come out and then the resource estimates for Bluff and Punchbowl are released then those who are aware of RBM will hold back a bit.

I don't believe this is a dud. There is an existing resource containing over 60,000 tonnes of Cu. Some recent high grades at Punchbowl and Bluff (remember the 61 m @ 2.70 Cu, a very good hole).

Of the 18 possible pipes they only need say 10 to be mineralised with say 2 mill tonnes each to get to a global resource of 20 mill tonnes @ say 1.5% Cu. That is 300,000 tonnes of Cu. If only 80% is recoverable this is 240,000 tonnes worth $1.65 billion based on an average sale price of US$2.50 per pound (currently around US$3.60).

This can't all happen overnight and I am as impatient as everyone else.

My main concerns are that I would like to see the directors buy more shares more often and that I would like to see them be more aggressive with their drilling programs and not be so super conscious of preserving cash.

I am hoping with good results coming up the above 2 concerns will not be an issue in 3 months time.

They should be drilling Airport Valley and Target Zone 16 at the same time as Redbank and Azurite etc.

As they are not and we can't change their current strategy then we know that in the next 12/18 months all these targets will be drilled. So they will get there but not as fast as we all would like.

It is a good maybe very good project in the making but we just have to be patient. High copper prices should be a permanent part of the landscape for the next 10 + years so time is on our side.

Don't forget the real prospect of the large underground orebody which would likely send the share price soaring.

Just my thoughts on what I know to date.

Flipper