re: News: Ramelius digs deep at Western Queen... Cash backing is around 50 million or 14 cents but they are spending around 10 million cash per year on exploration which is reasonable.
This cash balance could disappear quickly due to upgades and other factors such as losses and falling gold price
I would consider 8 cents cash backing due to cash burn and losses that RMS could suffer quite easily.
Mining 23,000 ounces would give RMS around $11 million after tax profit around 3 cenets a share.
I could consider rms base value 8 cents plus 3 cents from the new mine therefore a total value of 11 to 14 cents.
This doesnt give RMS any speculative value.
I cant give RMS any speculative value because their mining targets are idealistic and dont really have any real plan.
Lets dig up dirt isn't a mining plan.
News: Ramelius digs deep at Western Queen South , page-5
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