@Bear77, I agree and think RMS has a very effective management team who continually get the most out of their projects. I like the graph they use which shows the cost and cashflow generated from each of the assets they have purchased. They never have long mine lives but always manage to find new ore when its needed around the existing projects. The 10 year mine plan at Mt Magnet that is front end loaded for cashflow generation was a nice addition earlier this year. Nice decision on putting Edna May on care and maintenance as well given they see higher returns in other areas. I expect this will come back on in a few years if the gold price keeps running.

I sold down some of mine a little while ago as I was worried they were having a rush of blood after failing to find the 3rd production hub and then when the Westgold and Karora mergers fell apart I thought they might have bought something silly when they went to the tribunal. I'm glad the Karora one fell apart as I couldn't really see the merits of it, but the Westgold one made some sense to me, but I imagine the price was too much or the loss of the Westgold identity was too much for the other side. I think the stake in spartan was a good move, and gives them the space now to breath again without being forced into anything for the optics. The amount of positive cash they have generated in the last two quarters is nothing short of amazing. From the DD presentation it looks like the high grade ore from Penny will last a bit longer than I initially thought as well, so the good times will likely keep rolling on for a while yet.