ramelius cashed up, page-11

If RMS did decide to have a tilt at Integra its pretty hard to see it going wrong for them. In the worst case scenario they would end up with a share of a very solid asset, or selling out at a profit to a higher bidder.

Best case scenario for RMS would be actually ending up owning Integra.

On the other hand the ideal situation for Integra shareholders is probably to get to production unscathed and reap the benefits from the significant share price growth that will follow as production commences and increases and as the resource base also increases. This is subjective though depending on individual shareholders viewpoints on RMS resource and management and viewpoints on other potential suitors.

But from an RMS perspective its hard to see how they could go wrong in giving it a go.

I think both are undervalued and RMS could surprise to the upside very quickly and significantly depending on how the resource at Wattle dam plays out.

On the other Integra growth will be slower but I think there's more certainty about their growth path because they have proven up such a large and high quality resource base already, and hopefully CC's conservative management style will also mean less chance of rash decisions, unexpected cost blowouts, grade problems or other surprises.