RSG 0.00% 40.5¢ resolute mining limited

Ann: Change in substantial holding, page-34

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  1. 11,185 Posts.
    lightbulb Created with Sketch. 2609
    "Last year the company made a big thing about development yards and how well the company was progressing. Now very little is mentioned"

    Last year wasn't that long ago. What do you expect? That the company babies shareholders, holds their hands, and gives them updates every week. We have the quarterly reports for that.

    You obviously can't comprehend the scale of development which has occurred.

    This is just another of your wilful biases and attempts to scaremonger on no firm basis.

    The company did give an update on progress at Syama in mid-Dec 2018 and said

    The work completed to enable the sublevel cave to commence includes:

    ✓ 15 km of decline, level, and vertical development;
    ✓ extraction of ~1.5Mt of waste and development ore;
    ✓ fan, pump, and ventilation infrastructure;
    ✓ operational control procedures and controls;
    ✓ safety systems;
    ✓ ground control management;
    ✓ geotechnical and cave modelling;
    ✓ completion of the box cut;
    ✓ completion of the twin declines to the 1055 level; and
    ✓ development of four sublevel cave production levels (1130, 1105, 1080, and 1055).

    The above obviously proves to you that the company has done nothing and are just sitting back waiting for the gold to fall into their laps.......lol

    Just looking at the second dot point from that report and it seems as if my estimate of waste and ore movement based on 5m x 5m development headings is significantly out. I'll have to review my calculations to see where it went out.

    I've also just checked on the interactive 3D model on their website and development on that model is only current to Nov 2018 so the company could be doing a better job at keeping that model updated. Aside from this, RSG give investors a lot more information to work with than most of the other ASX miners I've come across. Esh
 
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