rhm ann: xmas celebrations!!

Hi Max,

Hope you are well.

Just wanting to know if any key milestones have been completed.

How are relations with necessary contractors?
How soon can we see an update with Buena Vista? Any Specific Estimated time?
Are contractor communications still delayed?
How much capital raising ($) are you expecting through the exercising of the recent options to be exercised?
Does the company have enough capital to complete immediate milestones (1-4weeks) for the Buena Vista region?
What are the next milestones for the company?
and
How is the Richmond Mining team going to be celebrating the festive period together? :)

Kind Regards,

Hiten Pindoria

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Dear Hiten Pindoria

Unfortunately Im recovering from a bad cold at the moment.

In terms of your queries I will answer as received.
1. Relations with contractors. I presume you mean the ones doing work for the company. They are very good. We have assembled a group of dedicated companies and individuals that are willing to go the extra mile for us to get the work done diligently and expeditiously.

2. There are multiple tasks occurring simultaneously that are at different stages of advancement. As the relevant information comes to hand and can be released in a meaningful manner an update will be made on Buena Vista.

3. On contractor communications, Im not sure what you are referring to. If you mean with potential service providers, they have never been delayed as they are still ongoing.

4. At the end of the September quarter Richmond had $1.76M in cash. Since then the Company has made a placement for about $1.3M and had about 2.9M options exercised raising about $0.6M. This totals about $3.6M but excludes outgoings for the December quarter. The Company still has about 18M options @ 20c to be exercised before the end of the year, which if all exercised would raise another $3.6M.

5. Hence Richmond has more than enough capital to make it through the next 4 weeks.

6. The immediate milestone that is pending is the new resource estimate for the West pit only. This is due to be completed in the current quarter.

7. One would hope we get to spend some time with our families but we havent even given it any thought about what we might do to celebrate the festive season at the office. Just been too busy.


I hope you have a safe and enjoyable festive season with your family.

Yours sincerely
Max Nind