Eshmun, if you follow RRL closely, I don't think you should...

Eshmun, if you follow RRL closely, I don't think you should discount the large amount of selling that was due to Newmont & ALK offloading the shares they received for the purchase of McPhillamy's. I am not sure of when they were sold, but I seem to recollect that Newmont was a seller last year.

Good point about McPhillamy's Nord, I had not looked at it from that angle. Doubly important now that costs will be much lower than 2-3 years ago with coal and other mines shutting down across the East cost. Probably even a lot of equipment and experienced miners looking for jobs too.

RRL has current capacity to produce 400,000 ounces a year, the key is grade. From the exploration results to date, I think their deposits can provide what is needed. Perhaps they should take page out of NST book in regards to exploration, but again, I think RRL will also look to buy into small caps with viable projects and develop them, as its cheaper to buy existing resources than explore (assuming the numbers stack up). Unless you have bought up projects like NST has, where the majors were inept at proving up the full potential of the acreage (makes me wonder how badly run the projects that the majors continue to hold onto must be, ha).