I don't know why too.We have a sizable resource and no debt....

I don't know why too.

We have a sizable resource and no debt. $7.8m in the bank.

Looking at all the M&A that is happening around, one can say we should be patient, esp. for the results of the PFS and, JORC reserve, and resource upgrade.

The latest gold deal is SXG & TRY, whereby, SXG is buying the Sandstone gold deposit (excluding nickel rights) + CIL plant for $5m plus options and a NSR.

IMO, I think this is a terrific deal struck by SXG and works positively in their favour. This is a striking blow to RMS, as this is the sort of deal RMS seeks, esp. near their Mt Magnet operations. The Barlee gold deposit is further away than Sandstone to Mt Magnet.

http://www.asx.com.au/asxpdf/20120814/pdf/4280sm1c748bc0.pdf

Given the distance from Bullabulling (65km west of Coolgardie) to SXG's Proposed Marda Gold plant (2nd hand TRY Sandstone CIL) is probably 200km or less. I wonder if a merger of BAB & SXG would work out well for both BAB & SXG holders.

Otherwise, RMS will have to go for either BAB or SXG, given RMS's Burbanks treatment plant is within Coolgardie.

Another possibility is that EVN's Edna May can takeover BAB and add SBM's Southern Cross operations (which is in care and maintenance atm).

These distances seem far, but I have spoken to DRM before, who had a keen interest in trucking ore from their Andy Well operations to RMS's Mt Magnet mine for processing, which is 120km. They said were do-able.

All are my views. Welcome other comments.