Elze Me too, at least not in the first few pages I have read - I...

Elze

Me too, at least not in the first few pages I have read - I may look into it in more detail later. I have no geo training so my understanding is pretty limited.

The positive part of the announcement seemed to be the lowered costs in future years as production gets back to normal levels. They have to prove to me that those costings are reasonably accurate given the low grade.

I note that they have lowered the cut off grade when estimating the reserves/resources. At least they are upfront about this important issue. It means fewer actually ounces being produced over the life of the mines, which should also mean higher costs per ounce than what was originally estimated.

If their costs are about right, then so long as sustaining capital/admin/exploration costs are low, RRL may be in very good shape. But I do not trust company estimates any longer so its best to just trade this goldie.

loki