RHM 0.00% 30.5¢ richmond mining limited

To be honest, i dont think the West Pit resource will do too...

  1. 6,575 Posts.
    lightbulb Created with Sketch. 123
    To be honest, i dont think the West Pit resource will do too much to boost the share price at this stage. The market generally doesnt get too excited about resource estimates unless they include a big chunk of high grade ore, the lower and mid range grades seem to be ignored. You also have to question whether they can still get the resource announcement out by the end of the year as promised. They did 8 drill holes in May yet only 4 were assayed, the remaining 4 were just sent off as they only just realised that these holes may boost the resource estimate. They still have to get the samples back from the lab and incorporate the results into their model, there isnt too much time before the end of the year and a lot of places close down over the break so it wouldn't surprise me if this is released next year although i am still hopeful that they can stick to their word on at least one of the more major announcements that were due out.

 
watchlist Created with Sketch. Add RHM (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.