Whats dragged RMS down has been unknown life of the mine and growth profile - regardless of right or wrong, the market wasnt confident about RMS's growth prospects. The market was pricing in nothing more of WD beyond what we had been told,,, and thats even though WD has continued to time and time again surprise to the upside. But, the market has been far too harsh on RMS. In my view RMS is different and they have never hyped up their story to sell the market stories about magical bubbles of gold.
As of last month, the Mt Magnet acquisition has now totally changed RMS and hopefully as a result it will get re-rated because the market now has something to look forward to in terms of growth. The valuation of EV/res oz highlights this.
IGR on the otherhand is a different beast. Up until recently they had also been savaged by the markets. Plenty of gold in the area, top class, conservative and cautious management, and lots and lots of potential for growth in the area, yet the market pretty much ignored that. IGR has now started to get re-rated and I hope that RMS is not too far behind.
The Price of IGR early last month was 25cents (its finally moved up to 38), which was a joke. RMS's at 48cents is also a joke IMO.
Whats dragged RMS down has been unknown life of the mine and...
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Last
$1.90 |
Change
0.030(1.60%) |
Mkt cap ! $2.171B | |||
| Open | High | Low | Value | Volume |
| $1.91 | $1.92 | $1.89 | $6.303M | 3.314M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 82778 | $1.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.90 | 114974 | 13 |
View Market Depth
| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| RMS (ASX) Chart |