no down side

RMS has currently $67 million dollars 23c per share

(Gold @ $1240 - $440 mine cost = $ 800 )

Mine plan
130,000 ounces * $800 * .7 (tax,etc)
= $73 million dollars 25c per share


approx 5 -10,000 ounces up to end of feb
not in current mine plan as per announcement
I'II use 7,500 ounces * $800 $6 million 2c per share


total 50c per share


With Overcall

@ 20% xtra 26,000 ounces * $800 * .7 (costs)
= $14.5 million dollars 5c per share

@ 100% xtra 130,000 ounces * $800 * .7 25c per share
= $73 million dollars

( As per Dec overcall)
@ 320%
xtra 286,000 ounces * $800 * .7

= $160 million 55c per share



So anywhere between 55c - $1.10 per share backing in cash by mid 2011 with No allowance for further extensions to mine or other assetts.Remembering this is their first mine and they own over 300 square kilometres in this Spargoville area.