Looking for a bit of a change in sentiment to get us heading back north. Maybe the resource upgrade will be the thing to do it, Veritas estimate an initial mining reserve of 7.1MT at 55%Fe and 40MT at 35%Fe, the good thing is that with the existing drilling data and additional drilling being done by Richmond, they have a good idea of what is in the ground and probably don't have to do too much more work to get it to JORC status.
So production to commence in around 20 months give or take and market cap is around $12million. I wonder does anyone have a comparison with a similar Australian company that is getting to production in around the same time.
RHM Price at posting:
37.0¢ Sentiment: Hold Disclosure: Held