I love a bit of speculative M&A rather than Dividend for RMS, they still have very good script value and bulk cash to merge/buy another producer or developer. To me, as a follower of RMS I see soo many options for this company, which have been discussed to some extent on these threads, but I have no idea what they will choose.
1. Buy or merge with a producer - PNR possibly fits the profile as a tack on project, get a whole greenstone district to explore, potential for long life if Norseman ground is drilled smartly. Future guidance getting up to 150koz pa. Will they fight with WGX/Karora for the asset?
2. Buy or Merge with developer - Obvious one is the neighbor in Spartan - 1.6M Oz+ gold and counting - infrastructure ready - but will be paying 800M plus, too expensive now? Gold production from Never Never potentially end 2025?
3. Build mill at Lake Roe/Rebecca - realistically they'll need something in between but who knows.
4. None of the above...
No numbers here just broad speculation to get some more chat going
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