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On reflection think the announcement pending has to be the JORC Resource upgrade, which was promised in December by DRM on 16/11.

 

Imagine market looking for a big increase on last upgrade which from memory came out around 150,000ozs.

 

A big upgrade may encourage RMS to get on with M&A activity, or are they just happy with their holding in DRM as a passive investment?

 

http://www.asx.com.au/asx/statistics/displ...;idsId=01241578

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That increase was already in the price and in fact, one could argue it's relatively over-priced at $1.45 compared to other gold stocks. You're probably correct, it was yet another case of Buy the Rumour--Sell the Fact, however there are very few gold stocks be they producers or explorers who boast: (ie I doubt they are overpriced)

 

Grades of 14.8gpt

Resource up to 480m and then open at that depth

Has cash in bank of $A15m

Has only 75m shares on issue

Has major shreholders owning over 50% of the company

Will produce a BFS just after Christmas

Production slated for 2013

Under takeover threat.

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