RVR general observations, page-8

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wassa

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15/07/20

00:27

Post #: 45867583
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Originally posted by VYR: ↑

My mother was born in Macrossan and her birth certificate tells me its not far from Charters Towers so I have got a bit of DNA in this area. I also own a pile of shares in Hillgrove Resources which took its name from the Hillgrove mine.

With Mells enthusiasm and RVR buying $200m of assets at Hillgrove for nothing means it has a very attractive story to tell a punter like me.

My observations are making it a bit hard for me to get excited.

What am I missing or mis- interpreting.

This is a short summary of my spread sheet.

The resources seem to be about 12% eq zinc but they aren't getting anything like that delivered to the plant. There's no talk about circa 20% eq zinc reserves and the june quarter the grade processed was 9.2%

The zinc price has never been anywhere near the price required at current cost to be sector average profitable. Apart from those couple of Jumps which are well above the general trend the current price seems to be above where the price could be heading.

I was hoping that getting the plant filled with ore from Liontown would do the trick. but when you look at the bottom of the following screen shot the processing cost is only a very small part of the mining cost and I suspect that the cost of trucking ore from Liontown will offset any savings made there due to increased volume.

Love someone to explain where the magic is that turns this around.

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Hi Vyr,

Its good to see some investors puting some effort into their research....it seems you enjoy numbers by your efforts.

Can you explain how you calculate the costs at line 37 (as lines 6 to 36 ) are edited....they seem high to me.

Also what peer group or source of information do you use for the 25% sector avg profit margin ( line 40 )

Lastly at line 42 you seem to be using $ 3189 across the 3 years rather than the yearly avg for each year.

TIA.

RVR Price at posting: 9.1¢ Sentiment: Hold Disclosure: Held
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RVR general observations, page-8

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