# RND - Rand Mining



## System (19 July 2010)

Rand Mining NL (RND) is primarily involved in mineral exploration and the development of gold interests in Kalgoorlie. RND's main focus is on the exploration and development of the East Kundana joint venture resources in Western Australia.

http://www.randmining.com.au


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## springhill (8 June 2012)

Is there any interest out there in RND? Very thinly traded, but with an approx market cap of $25m and an increasing store of gold at Perth Mint, value in excess of it's MC. Plus 1.5+ cash in hand, this looks to be an underrated company making coin working hand in hand with TBR. Production costs in the $400-500 range.
Have taken a holding a few months back, but slips under my radar as announcements seem to revolve around quarterly/half/yearly reports or increases in gold credits.

Last few announcements here.
Gold credit
http://www.asx.com.au/asxpdf/20120608/pdf/426r5072s4dn4c.pdf
Quarterly
http://www.asx.com.au/asxpdf/20120430/pdf/425ywdcq2n0p4f.pdf
Half Yearly
http://www.asx.com.au/asxpdf/20120314/pdf/4250sr8mcswt68.pdf
Gold Credit
http://www.asx.com.au/asxpdf/20120301/pdf/424rsf9s13xn2z.pdf


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## burglar (15 June 2012)

springhill said:


> Is there any interest out there in RND? ...




So tell me, how do you find these cute li'l "niche market" small caps.


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## prawn_86 (15 June 2012)

What sort of price would gold need to fall to for their holdings to be equal to RNDs MC? Are they just storing their gold or actually selling it to the Perth mint?

Benerally LICs trade at a 10 - 20% discount, so if all they are doing is holing gold then one can probably expect that sort of discount.

Disc - i know only what is in this thread, no external research


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## springhill (15 June 2012)

burglar said:


> So tell me, how do you find these cute li'l "niche market" small caps.




Just in general everyday life, if i see a code i make a note to look at it that night. Hell if im driving behind a car i pick the 3 letters in the licence plate and look at that. I get busy around quarterly/half/yearly report time spending days running through codes. For every 100 codes i look at generally only 1 or 2 meet my requirements. 



prawn_86 said:


> What sort of price would gold need to fall to for their holdings to be equal to RNDs MC? Are they just storing their gold or actually selling it to the Perth mint?
> 
> Benerally LICs trade at a 10 - 20% discount, so if all they are doing is holing gold then one can probably expect that sort of discount.
> 
> Disc - i know only what is in this thread, no external research




Out in the field ATM prawn but off the top of my head they have around $27m of gold stored (not sold) at the mint. So if you run a LIC 10% discount to that makes it about dead level with their MC. 20% discount makes it less though with cash in hand theres not much in it.


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## burglar (16 June 2012)

springhill said:


> Just in general everyday life, if i see a code i make a note to look at it that night. Hell if im driving behind a car i pick the 3 letters in the licence plate and look at that. I get busy around quarterly/half/yearly report time spending days running through codes. For every 100 codes i look at generally only 1 or 2 meet my requirements. ...




I found many speculative junior explorers by sifting through the titles on the list of ASX Reports.
Of course, looking for key phrases like High grade or Bonanza grade, it is to be expected.

Just waiting for a bull market!!


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## springhill (25 July 2012)

During the quarter, 39,127 tonnes of EKJV ore were processed and 13,419 oz of gold and 4,926 oz of silver were credited to Rand and Tribune Bullion Accounts. (Rand’s share is 25%)

*At the end of the quarter approximately 13,700 tonnes of Raleigh ore at an estimated grade of 17.9 g/t remain as a Bed Blend Stockpile on the ROM pad at the Raleigh Mine (Rand’s entitlement is 12.5%)

*approximately 2,000 tonnes of Rubicon ore at an estimated grade of 14.5 g/t remain as a Bed Blend Stockpile on the ROM pad at the Rubicon Mine (Rand’s entitlement is 12.25%)

*approximately 22,100 tonnes of Raleigh ore at an estimated grade of 14.8 g/t remains on the ROM pad at the Greenfields Plant (Rand’s share is 25%)

*approximately 19,600 tonnes of Rubicon ore at an estimated grade of 9.3 g/t remains on the ROM pad at the Greenfields Plant (Rand’s share is 25%)

*the difference of the Gold in Circuit at the start and end of Campaign 22 has been agreed and the amount,    3,679.888 oz, will been transferred to Rand and Tribune Bullion Accounts by the end of July. (Rand’s share is 25%)

*EKJV Exploration*
The 2102 drilling programme has commenced. Results will be announced when assays become available.

*OTHER EXPLORATION*
Wongan Hills (Rand’s Interest 100%)
A drilling programme to test previously reported anomalies has been planned and will start when a drill rig is available.

*Seven Mile Hill Joint Venture (Rand’s Interest 50%)*
Discussions to farm out the Seven Mile Hill tenements are continuing.

*Tapeta Iron Ore Project, Liberia, West Africa*
Construction of the camp on the lease continues. Work on the access road continues.


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## springhill (11 September 2012)

PROCESSING OF EAST KUNDANA JOINT VENTURE ORE

● Toll treatment campaign 23 of the Rand Mining and Tribune Resources share of the EKJV ore from the Raleigh and Rubicon underground mines at FMR’s Greenfields plant, located at Coolgardie, has finished.
● The calculation of the difference of the Gold in Circuit at the start and end of the campaign is pending.
● 25,551 ounces of gold and 5,012 ounces of silver have been credited by the Perth Mint from dorÃ© produced from 68,975 tonnes of ore; the blend was approximately 50% Raleigh ore and 50% Rubicon‐Hornet ore.
● 6,387 ounces of gold have been credited to Rand.
● Toll treatment campaign 24 of the Rand Mining and Tribune Resources share of the EKJV ore, at FMR’s Greenfields plant, is expected to commence in early November, 2012 and will be completed before the end of November, 2012.


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## springhill (17 September 2012)

For full table reports mentioned below see here.
http://www.asx.com.au/asxpdf/20120917/pdf/428rmx1pd84ggv.pdf

*Quarterly Exploration Report: June 2012 EKJV Quarterly Activity*

*Summary*
This report provides a quarterly report on work conducted by Barrick Kanowna on the East Kundana Joint Venture (EKJV). The EKJV is a joint venture between Barrick Gold subsidiary company Gilt-Edge Mining NL(GEM) and Rand Mining Ltd and Tribune Resources Ltd.
Work was conducted on two prospects within the EKJV. They were: Pegasus, and Raleigh Corridor.
At the Pegasus prospect a resource development drill program as well as two exploration drill programmes and a condemnation programme all commenced. At the Raleigh Corridor target area an exploration drill program commenced. 

*Pegasus*
The second quarter of 2012 saw a substantial amount of drilling take place at the Pegasus deposit to infill existing drill data in the near surface mineralisation adding to the work completed in quarter 1, as well as down dip, exploring for depth potential.
Four drill programmes consisting of 44 drill holes were approved for the Pegasus deposit following on from positive outcomes achieved in quarter one of 2012.
Objectives for the drill programmes included the completion of the infill drilling of the high grade core of the Pegasus deposit (Resource Programme), depth testing of the K2 structure (Pegasus K2 Deeps Programme), infilling between the deeper drilling and the optimised pit (Pegasus Down Dip Drilling Programme) and a condemnation programme of an area for the proposed waste dump.
The drilling of the 44 holes consisted of 2,627.1m of Reverse Circulation drilling and 1,789.6m of Diamond drilling.
Drilling Pegasus Resource Programme
This drilling programme was completed in April. The RC drilling involved 3 holes totalling 360m. The diamond drilling component of the programme involved one hole for 250.8m.
Pegasus K2 Deeps Programme
This drilling programme was also completed in April. Two RC pre-collars were completed totalling 327m. Four diamond drill tails totalling 1,050.4m finalised the programme in late April.
Results for this are tabled below (Table 1).
Pegasus Down Dip Drilling Programme
This drill programme began in May. The RC component included 13 drill holes for 2,994m and was completed in June. Three diamond holes of the programme were drilled in June for a total of 1,283.1m.
Results for this are tabled below (Table 1 & 2).
Condemnation Drilling
This programme started in June with 18 of the planned 34 holes drilled for 1,800m.

The more significant intervals drilled during the quarter are listed below:
*PGRC12004A 5.0m @ 14.4 g/t Au from 114.0m
PGRC12005 17.0m @ 8.91 g/t Au from 136.0m
PGRC12007 7.0m @ 28.8 g/t Au from 96.0m
PGCD12013A 4.5m @ 9.27 g/t Au from 290.2m
PGCD12014 4.8m @ 10.5 g/t Au from 245.2m
PGRC12029 3.0m @ 10.5 g/t Au from 58.0m
PGRC12050 7.0m @ 6.11 g/t Au from 214.0m
PGRC12051 8.0m @ 12.0 g/t Au from 259.0m
PGDC12017 4.0m @ 46.0 g/t Au from 195.0m and 8.9m @ 13.5 g/t Au from 213.0m*

*Raleigh Corridor
*The second quarter of 2012 saw the completion of an exploration drill program to identify high grade vein mineralisation along the highly prospective Strzelecki Fault Zone (SFZ). The SFZ is a strike continuous structure and hosts the 1MOz+ Raliegh and Strzlecki Deposits. The objective of this programme was to test this structure to the south of the Raleigh Deposit over a strike length of 2km. The SFZ has been a target of historic exploration, however previous drilling has rarely tested 100m below surface and ignoring the potential for a “blind shoot”. Special attention was given to the historical Golden Hind target where previous drilling intersected sub-economic mineralisation. The program consisted of two parts. Ten reverse circulation (RC) drill
holes were completed at between 150 – 250m drill spacing along strike testing the SFZ at approximately 120m below surface. Five diamond drill (DD) holes were completed down-dip and along strike from existing intercepts at the Golden Hind target at approximately 80m drill spacing.
Drilling
RC Program
All 10 RC drill holes planned were completed for a total of 1806m RC drilling. After reviewing the geology it was observed that 4 drill holes RRRC0001, RRRC0008, RRRC0009 and RRRC0010 had not reached the target SFZ, so NQ2 diameter diamond tails were added to these holes. A total of 390.9m of diamond drilling was completed for the tails.
For the RC drilling, all drilling was sampled using 4m composite sampling. Any intervals reporting a composite assay greater than 0.2ppm Au were identified and 1m split samples for these intervals where submitted for analysis. Following receipt of assays for the 1m split samples, screen fire assays were performed on the coarse bulk residue of selected samples, following the observation of course gold in diamond drill hole RRCD0002.
Significant results to date are summarised in the table 3 below.
DD Program
A program of 5 DD drill holes were planned to test down-dip and along strike from previous sub-economic intercepts at the Golden Hind target. All holes had 150m RC pre-collars, with NQ2 diameter DD tails. Following the intercept of spectacular visible gold in drill hole RRCD0002, two additional diamond drill holes were added to the program, and where completed as HQ/NQ2 diameter DD from surface. A total of 750m RC drilling and 1469.8 DD drilling was completed for this program.
All drill holes intersected the SFZ. The SFZ typically manifests as a small (0.1 – 0.4m) wide pug zone at the contact between fine grained silicious sediments and the footwall intermediate volcanoclastic sequence within a wider (up to 5m wide) zone of broken ground and shearing. Laminated quartz veining was observed in drill holes RRCD0002 and RRCD0007.
Results
The 2012 Raleigh Corridor drilling has confirmed the presence of mineralisation on the SFZ to the south of the Raleigh deposit. The location of the SFZ is different to Raleigh, where the fine grained siliceous sediments are usually thin or absent, and the SFZ is considered to occupy the position between the Powder Sill Gabbro and the Footwall Volcanoclastic sediments.
For the Golden Hind target, the spectacular mineralisation encountered in RRCD0002 (0.75m @ 1341g/t Au) is similar to the style of mineralisation encountered at the Raleigh and Strzlecki deposits. Drill hole RRCD0007 was drilled approximately 80m down dip from RRCD0002 and intersected a 0.4m wide laminated vein. The screen fire assay of 0.4m@9.79g/t for RRCD0007 is within expectations given the nuggety nature of mineralisation. Assays for the SFZ in RRCD0001, RRCD0003, RRCD0005 and RRCD0006 are anticipated in mid-August.
A preliminary investigation of the geology indicates there is a flexure in the orientation of the SFZ associated with the Golden Hind shoot. Once all assay results have been received a full interpretation will be conducted to determine if there is a potentially economic shoot at Golden Hind.
Results from the RC component of the program (in particular RRRC0004 – RRRC0007) have identified mineralisation in an area previously thought to be barren. Previous drilling down dip of these holes (WWRD001 to WWRD003 ) did not identify any significant assay results, however, the fine grained sediment/intermediate volcanoclastic sediment contact does not appear to have been sampled. It is planned to retrieve these holes to confirm if the SFZ has been sampled, and if not, samples for the SFZ will be submitted for assay.


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## springhill (30 October 2012)

*Quarterly Report for September 2012*

● During the quarter, 68,975 tonnes of EKJV ore were processed and 29,577 oz of gold and 5,058 oz of silver were credited to Rand and Tribune Bullion Accounts. (Rand’s share is 25%)

● At the end of the quarter
-approximately 19,000 tonnes of Raleigh ore at an estimated grade of 11.3 g/t remain as a Bed Blend Stockpile on the ROM pad at the Raleigh Mine (Rand’s entitlement is 12.5%)
-approximately 10,200 tonnes of Rubicon ore at an estimated grade of 9.5 g/t remain as a Bed Blend Stockpile on the ROM pad at the Rubicon Mine (Rand’s entitlement is 12.25%)
-approximately 9,200 tonnes of Raleigh ore at an estimated grade of 13.9 g/t remain on the ROM pad at the Greenfields Plant (Rand’s share is 25%)
-approximately 12,800 tonnes of Rubicon ore at an estimated grade of 10.2 g/t remain on the ROM pad at the Greenfields Plant (Rand’s share is 25%)
-the difference of the Gold in Circuit at the start and end of Campaign 23 has been agreed and the amount, 3,324.613 oz, will been transferred to Rand and Tribune Bullion Accounts by the end of October. (Rand’s share is 25%)

*EKJV Exploration*
The Quarterly Report of the EKJV exploration activities is expected shortly and will be released to the ASX when received.

*OTHER EXPLORATION*
Wongan Hills (Rand’s Interest 100%)
A drilling programme to test previously reported anomalies has been planned and will start when a drill rig is available.

Seven Mile Hill Joint Venture (Rand’s Interest 50%)
Discussions to farm out the Seven Mile Hill tenements are continuing.

Tapeta Iron Ore Project, Liberia, West Africa
Construction of the camp on the lease has finished. Drilling will start when the wet season
has finished.


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## springhill (8 April 2013)

For those interested in buyer/seller volume movements, keep an eye on RND.

Usually only 2 buyers on market at one time, today there are a few more and they are pushing up the buy side in price. Very thinly traded so may suggest news around the corner.


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## prawn_86 (8 April 2013)

Might be due to this article:

http://www.theage.com.au/business/g...-170-million-up-for-grabs-20130407-2hevo.html


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## burglar (8 April 2013)

springhill said:


> ... Very thinly traded so may suggest news around the corner.




Running hot now!!!







disc.: No holding


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## springhill (8 April 2013)

prawn_86 said:


> Might be due to this article:
> 
> http://www.theage.com.au/business/g...-170-million-up-for-grabs-20130407-2hevo.html




Well spotted prawn, the value was always there it was just never recognised by the market.


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## Country Lad (8 April 2013)

springhill said:


> Well spotted prawn, the value was always there it was just never recognised by the market.




I was given a word of caution about these two companies some time ago by a broker.  He didn't want say too much more and what he did I can't publish here.

I did a bit of research at the time and  found this.


There are 2 parts to the article in today's Age article, the first being the gold holding at about half its sale value.  The red cordial drinking day traders have seen this as an opportunity today by the looks of the relatively small trades mostly around the $2,000 mark.

The second part is the cautionary note which ASX and ASIC should be having a look at because it appears the companies are going nowhere near satisfying continuous disclosure requirements.

Cheers
Country Lad


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## mr. jeff (8 April 2013)

Second all this.
The shadows behind TBR and RND are perhaps best not invested in.  Very illiquid and no interest or power with shareholders, so anyone considering buying the shares, make sure you do a lot of research first. Very questionable.

This is all a suggestion and not advice of course.


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## springhill (8 April 2013)

I won't disagree with anything that has been said in the previous couple of posts.

My only motivation is to increase the value of my investment.

RND is not a sentimental investment decision, nor do I particularly care about allegations that are or aren't made about structures/owners/outside dealings.

My primary objective has been achieved and it is a judgement call when to exit. My holding isn't massive so don't see low liquidity as being a problem.

The key is timing, tomorrow will tell everything that needs to be known.

Once my holding is gone I never look back.


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## tinhat (20 April 2013)

I noticed this thread was active recently but didn't pay it much attention. I'm playing with a new technical filter today and TBR came up in the results which led me to look into TBR and so now I am also looking at RND. Intriguing. Someone is going to end up making money a lot of money out of all the gold these two companies are sitting on and I doubt it is going to be the small stock holders of RND and TBR by the smell of it. That Age article is intriguing. Intriguing indeed!


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## prawn_86 (20 April 2013)

tinhat said:


> Intriguing indeed!




Yeh it was enough to put me off doing any further research. With those sort of shenanigins going on who knows what will happen. Looks to me as though directors (or someone) is trying to give away the vast majority of the co to an offshore entity before cashing in all that gold. Any normal company would be paying a dividend if they are sitting on that much


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## springhill (20 April 2013)

Agree, this Iron Ore tie up was enough to see me jettison them Friday.

I may play high risk with my investments, but evasion of questions and the risk of being diluted out of existence was enough to see me wave this one goodbye and focus on the other fish I have to fry


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