Check out this extract from the OGC announcement dated 16/5 regarding their Reefton mine...
Currently RCO and OGC are having a court case relating to when the royalty was due to start.
Below Steve Orr mentions that it took 6 months to get production ramped up which could explain a 6 month delay in royalty payments... that being the case they have no excuse not to start payment momentarily I'd assume? Especially given that the mine is performing above expectations. "Show me the gold."
"corporatefile.com.au Are you on track with the ramp-up at your New Zealand mines? How are they performing from a cost and margin perspective?
CEO Steve Orr We have commissioned two new mines in the past 18 months and I think it is safe to say there are few companies our size that have achieved the same. Reefton, which was commissioned last year, is performing above expectations. It took us six months to get it ramped up but the team there have done a great job and our throughput rates are now exceeding design. "
RCO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
