Hi Esh, as usual your points are substantive and accurate. I do...

Hi Esh, as usual your points are substantive and accurate. I do not ignore CMMS 8.5 years of mine life, although if you look at the mine plan, after the first 2 years, the AISC rises dramatically, i.e. if things do go exactly according to plan, the project as it stands right now, would be much much less valuable to all involved. As you say though, its a relatively low risk project, but then, find me a developer of a 100k project that has not had issues over the past 10 years on the ASX. Personally, I cannot think of a single one. You know RMS even better than I, yet your negativity to it is over the top, even you cannot deny that as a small cap miner, they have surely done better than most at meeting targets, expanding mine life and buying solid projects etc. They have done what many cannot, sure, Edna may might have a short mine life, but then, so did Mt Magnet, but you bought in big time. CMM does have a good project, but... it requires a big amount of capex, plus a lot of stripping, albeit lower than GCY. 

DRM - has risen from the dead because of exploration success and an MD that has been able to do what many cannot, meet and beat targets. Plus, its AISC is actually getting quite low, compared to say, SLR and its $1350 AISC, or WGS and its $1440 AISC, or MML and its $1400 AISC, or MOY and its $1350 ASIC etc etc.... I am becoming vary weary of any developer that has low AISC projects, yet, never seem to hit them! (let alone companies like RED, BLK, TRY, BDR, even PNR).  Perhaps DCN will finally show the market that it can be done by a company other than NST, RRL, EVN, SAR etc.

CMM is worth exactly $50m. No more no less, at least right now anyway. Even RRL is only willing to pay around $80m (and of course they are not going to pay full value, why would they). I don't discount that RRL won't have another tilt at CMM, but for now, they simply cannot, as it would seem its biggest shareholder has no interest in owning RRL script.

@Infidel75 - I appreciate you not taking offence to my posts, as I realise its hardly the popular viewpoint 

I totally agree with you about putting the development on hold and really drilling the heck out of Tramore, and perhaps some of its other prospects. As right now, the market is simply ignoring developers. Timing is such a big part of the development process, and getting things right (aka DCN proved that with the poor timing of one capital raising, but then proved they had learned and raised twice when the market was very positive).

They do not need a lot of money to do a decent drilling program for perhaps 6 months or so, and by that time, the POG might be back in favour, CMM might have proven up more resources or even reserves and their IRR will have increased etc. Plus, raising $50m+ could be much more palatable to both holders and new investors. 

Good luck to holders, hopefully the drill bit will help things along if they do raise in the near term.