I've been around Ramelius for a fair while and have stayed with them throughout but didn't realise following it amounted to joining a cult where unquestioning loyality is required.
I was one who was critical of the management a few months ago when they went off and signed up exploration blocks in Qld NSW and Nevada. But that was in the context of then, not with the benefit of hindsight now.
At that time the life of Wattle Dam was looking to be limited and they had not addressed where their next cash flow was coming from. I did not have a go at them over Dioro even though it diluted me and I think it hurt the share price. I thought that they probably missed their shot with DIO and were too late to the party, but I didn't mind them having a crack at it.
But I could not see why they felt the urgency to suddenly go off and buy into a bunch of blue sky exploration blocks in places a long way from Wattle Dam. To me they were trying to provide answers to the wrong question.
It is great that Wattle Dam now looks to be a mine that just keeps giving. But the real turning point imo, the move that the current management should be congratulated on, is their picking up Mr Magnet. This project rounds out RMS imo: it gives it substantial JORC which Wattle Dam could never do to attract the more risk averse investors, it increases the flow of information to the market, it answers the key question of what next after Wattle Dam, it offers the possibility of RMS getting bigger amounts of gold, and of growing into more than a one-shot fluke.
Not having a go at you: I am happy that you and Sally and co should have your persistence rewarded.
RMS Price at posting:
64.0¢ Sentiment: Hold Disclosure: Held
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