What do you mean Tropicana doesn't have exploration potential? That's where your whole concept of paying too much for proven oz falls down. Under each of the pits there are resources. At Boston Shaker it's been developed into an U/G mine. The others will get there in due course. Havana is being cut back first. If you look down dip or down trend of the pits you'll find resources mostly all open in every direction too.
As I understand it exploration ground too. As for Newcrest ask Sandeep what analysts are saying about short term production growth for NCM mainly because of Wafi-Golpu but Also Lihir. Now I'm not saying NCM isn't an excellent company or a good buy but it's no use the pot calling the kettle black.
The issue for Anglo is do they want to pend the capital to access the other oz?. The answer is probably yes sequentially. At present they're working on filling the fill mill since U/G ore higher grade but of less volume and harder.
RRL Price at posting:
$2.74 Sentiment: Buy Disclosure: Held
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