No one can dispute that a + 1m oz deposit is sizable especially...

No one can dispute that a + 1m oz deposit is sizable especially considering that there is so much more drilling to come.

My two concerns would be that in comparison to Lihir; and operationally that is what it should be measured against as the operational requirements would be similar (i.e. Island locations/ infrastructure requirements/ etc) the grade is much lower (so far) for ROL. For example Lihir's reserve grades at 2.4g/t Au vs. 0.81g/t for ROL...

Secondly the project is in Indonesia.

Judging by the share price post-announcement this was all largely expected or didn't excite the market.

However, IMO, if ROL continue to build up its resource base through the $15m exploration programme it will never get to production as an independent miner. It will be taken over.

Just my opinion.

Cheers
John