seriously underestimated and undervalued

JMHO
Today's announcement of $27 million of cash and 37% of Dioro , MUST MAKE AVOCA WINCE!!!.

On a quick calculation , 37% of Dioro for Ramelius , has a current value of approx $45 mill , so RMS has a "war chest" of approx $70 mill if they chose to , or in the end were "forced" to accept the Avoca offer and elected to sell the in specie Avoca shares .

$70 mill CASH VALUE, with no debt and a production schedule that could produce between 30k and 60k ozs IN THE NEXT 6 MONTHS,is an extremely powerful weapon ( lets conservatively say 45,000 ozs @ net $750 cash cost per oz = another $33 mill .
So $100 MILL DOLLARS in cash BY THE 30TH JUNE...

So where/what will RMS look at next , if their DIO bid fails .......
Avoca is clearly stalking Integra as well ---and RMS has worked itself into a BALANCE SHEET position , where it could well bid , or counter bid in the event of a hostile Integra takeover .

I don't think the Ramelius Directors have played their last hand in this Eastern WA Goldfields consolidation ---by a long shot ---and what we lack in a JORC reserve , we may well make up in cold hard cash .

Next few weeks , with the DIORO agm on the 27th Jan , the expiry of the RMS/DIO bid on the 3rd Feb and the formal AVO revised bid , is going to be extremely intriguing.
cheers