the move is on, page-4

A lot depends on whether or not the "sulphide" discovery comes back with ore grade nickel assays. A 100% owned greenfields nickel discovery would see multiples of the current SP.

However, I'm mildly pessimistic that the sulphides will be shown to be barren. Falcon Minerals and Regis have drilled a few barren massive sulphides lately, so "dusters" seem to be the norm, not the exception, for the Collurabbie area.

The Moolart Well gold project looks like a pretty good asset, and RRL market cap is arguably 100% underpinned by the value of the gold alone, so probably a fair buy, even if the nickel play does not live up to expectations. A new gold resource estimate is due out soonish, and I would expect it to have grown, given the number of good gold hits over the last six months.

There's a lot of substance to RRL when compared to the dross of our recent uranium hopefuls, and the change in buying momentum looks decisive to me, so I'd be expecting a few more cents out of RRL.

R/happy