In response to my extremely negative view of the company over the last couple of months. I spent over an hour on the phone with Mel this afternoon and he went over number of the issues with what Whisky, Winner, BL, Wassa and I have been discussing. I now believe RVR has always been on the right track.
Thalanga- We just have to wait. Far west may run out, but that's life. Permits will be in soon and may have OK for a Christmas present or may have to wait another 9 months if more environment during wet season required.
Royalties- 20 million at worst and he'll appeal it anyway.
Hillgrove- 3 previous owners gone broke, by just going straight in we could suffer the same fate. If drilling comes up empty, then the present plan and plant (and increase up to 450) is always ready to go. He believes Hillgrove could be massive really massive! If he started mining High grades now (which he can), we jeopardise all the lower resources surrounding them and what he call the bigger picture.
Antimony, is also not going anywhere, he knows what previous owners did wrong. Had offers of 30 million a year ago. His thinking is: What if it's worth 300 million. Only interest is international and Sb is not the flavour of the month. But, sometime in the future it will be.
My take on everything. More drilling and I mean a truck load and it's all justified. This is a game of patience (whinging like me) or chicken (sell and run). I've been here ages and because of the Fear of Missing Out I will not be selling this stock and may even top up if it goes down much more, However, there maybe pain down the track as drilling will take time. I don't know if it is a good thing he spent that long with me. Very respectful to a little fish. I think he does read Hotcopper as he said I have to be careful what you believe. I reckon he is a gambler and I would love to have a beer (or 20 with him). Patience, patience and patience is needed
If there is anything I forgot, I'll pop answers as you post. Cheers Mdcha1
RVR Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
