RMS 3.61% $1.87 ramelius resources limited

LOM?, page-3

  1. 1,034 Posts.
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    Here's my life of mine

    Vivien   200koz(drilling at depths can extend)
    Blackmans/Titan 100koz
    Milky Way/Steller   200koz
    Water Tank 100koz (drilling at end of year can extend)
    Morning Star   150koz (drilling can extend)
    Black Cat 100koz(drilling can extend)
    MS Deeps 200koz(drilling to confirm but already hits at BC deeps and MS upper)
    Boomer/GStream 100koz
    Saturn U/g    125koz (infil drilling can extend)
    Mars/Mercury 125koz(resource to come - but it's there - will post why later)
    Brown Hill/Spearmont Galtee/Lone Pine/Hill 60 etc - see resource statement before further drilling
    i.e. Various 100koz
    Total    1500koz

    @ 150 koz a year - should be good for about another ten years before any major new discoveries or extensions

    Remember this company doesn't waste money on proving up reserves - we're already mining at Blackmans and it's not even included in the reserve statement.

    Re question the other day about wanting reserve on Vivien - if the mine is already making money ($600 an ounce) with a grade above 7g/t and the additional resource is also above 7g/t in the same mine then its a pretty sure thing its going to be economic. (which is the difference between resources and reserves - resources prove up the geological status of the mine while the reserve determines if its economic) With so much drilling underway its better the company concentrates on proving up resources at Black Cat and Morning Star so that there can be a major upgrade to resources this September when the updated reserve and resource statement will come out.

    IMHO/GLTA
 
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