RE:Bmv27 Jul 2016 22:05
This company has huge potential, just look at the partner statement on the Batangas project.....
Red Mountain Mining (ASX:RMX), a company listed on the ASX with a market cap of $2.6 million, has just done a deal which values its main project at about $9 million – and the potential revenue from its project’s production could run to $165 million a year.
That last figure is just a touch pie-in-the sky (being the current gold price multiplied by stated annual project production of 100,000 ounces over five years), but the first two are much more solid.
RMX, a nano-cap gold miner to-be, has just received good news from its strategic funding partner, which should unlock funds to immediately progress its Batangas Gold Project.
It’s a deal which has been in the pipeline for a while, but with its JV partner Bluebird Merchant Ventures now just days away from listing on the London Stock Exchange (LSE), RMX will now see the money flow – as it, and Bluebird, edge one step closer toward a Definitive Feasibility Study (DFS).
Bluebird recently published an approved Prospectus for admission to the LSE, with part proceeds of the associated placing to fund the Batangas DFS, more drilling of high grade targets and permitting of the gold mine development, and hopefully fast forwarding this project into production.
RMX’s overall aim is to become a self-funded gold production and discovery machine, with a stated production aim from Batangas of 100,000 ounces over 5 years.
This project could generate up to $165 million of revenue or up to $60 million of cash flow, subject to confirmation when the DFS is soon finished.
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