RMS has secured key mining approvals from DEMIRS for the Cue open pits. An updated pre-feasibility study has confirmed the economics of the Cue open pits, which have a pre-production capital cost of A$26.6m and a payback of just 7 months. RMS has also released a maiden reserve for the deposits of 2.7mt @ 2.9g/t containing 250koz. We note that the Cue open pits were part of the ten-year mine plan released for Mt Magnet in March. We are on research restrictions on RMS.
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