rmx comparison

Thought I would put together a bit of a comparison between this stock and another which has been posted quite a bit on this forum RMX (RED MOUNTAIN MINING LIMITED).

Let’s start with the market cap-

Mantle Mining - fully diluted MC minus cash is around $7m,

Red Mountain Mining – fully diluted (not including performance rights) around $8m

Now to the projects-

Red Mountain have two projects located in the Philippines

Lobo (SWB) 7.2g/t 45,000Oz Total

This is almost identical grade to Mantle’s

Norton Project t 7.4 g/t 108,000Oz Total

So Mantle has double the high grade gold.

Now RMX have just completed a scoping study on this deposit. A few points

- Capital cost of A$16.7 million so RMX will have to dilute massively to bring into production (Mantle estimated ~$1m for Norton, half already paid)

- Cost/Oz $769-1,050 (Norton was previously mined at $800/oz, thanks to poster potchip)

- RMX start production <1 year away? Mantle 6 months?

So on this first project Mantle beats RMX on every measure.

On to RMX second project Archangel (Kay Tanda)

2.0g/t 363,000 Au Oz 3.3g/t 595,000 Ag Oz

This is almost identical to Mantle’s Granite Castle/Coronation Project, except it has not been fully drilled.

2.91g/t 79,301 Au Oz 56.2g/t 1,530,803 Ag Oz

The conservative target is

2.5–3.5g/t 162,000–255,000 Ag Oz 55–70g/t 3,570,000–5,110,000 Ag Oz

On top of that Mantle has:
-More Gold JORC at Charters Towers 125,000 Oz

And as part of the discussions of a deal with "domestic and offshore entities" are the coal assets
-Mt Mulligan CBM Project
-NPV @10% = $1.4 Billion 50/50% JV Exergen Project
-Latrobe Valley Black and Brown Coal Project including 289Mt JORC

Comments welcome, I would prefer negative comments rather than just anonymous downthumbs.