price target 35, page-4

It comes down to a process of elimination.

Mt magnet has a resource that is large enough to generate a large income for RMS.

The gold price is high enough to give them a large profit margin.

The board is competent enough to bring the mine into production.

Kennedy might have made mistakes by giving a return to capital but since then capital management has been acceptable.

Why is RMS being hammered?

It has to be external factors that drive the price of gold.

Also RMS did claim they will be producing 200k ounces per year, this claim was made around 3yr ago.

I tend think the major factor that has driven the share is external factors. The gold price falling from 1800 to 1600 being a major factor and fear of a recession.

If we do enter a serious recession then gold should fall below 700s.

You can have your philosophy about gold and marginal costs but the market controls gold, not academic beliefs based on mine operating costs.