The common statistic that is quoted is that 1 in 1000 prospects (or drill targets) becomes a mine. See link:
http://www.321gold.com/editorials/guest/delreal011415.pdf
So if RDM continue to test/drill 0.5 or 1 targets per year, how long before they (or their JV partners) make a discovery? You can improve your odds by doing brownfields exploration (close to existing or below existing mines) but RDM can only do that at Maronan (which at least has a known resource).
10c line, page-46
Add RDM (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
10.5¢ |
Change
-0.005(4.55%) |
Mkt cap ! $37.45M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 11.0¢ | 10.5¢ | $2.548K | 24.03K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 1422497 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 596185 | 9 |
View Market Depth
| Last trade - 14.10pm 29/11/2024 (20 minute delay) ? |
| RDM (ASX) Chart |
