Rio abandoned the project because it did not fit in with its global scale of things.
Development drives were in place and stoping was about to commence when RIO mgmt. pulled the pin on the project.The following miners failed due to poor zinc prices and amount of capital needed to start up an underground zinc mine.
Things are different now with better mining technology and a rising zinc price.
This is a very good deal for Ram Resources.
GLTA
DYOR
The next 12 months will be very interesting for RMR with a JOUC resource expected pretty soon after vetting of all historical drill results.
RMR Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held