The key to this acquisition is the capability of RNI to turn a tired rundown mine (Fortnum)into a positive cashflow. Estimated production costs are high ($826/oz)- but there is still a reasonable return if gold remains around $1500/oz.
... People / Equipment / & Organisiation will be the major problematic resources. I suspect that RNI will struggle in this respect.
There is untapped potential to the exploration licence coverage across the Naracoota Volcanics ... but a quick interogation of the WA DMP online tenure database uncovers that many ELs which are long in the tooth & come with mixed pressures on them.
I'm thinking the price is to high for these assets... Any thoughts?
ALSO ... I'm thinking this takes some wind out of the ALY deal with Grosvenor(pre Xmas). I wonder how those funding preparations are going?
The key to this acquisition is the capability of RNI to turn a...
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