# RMI - Resource Mining Corporation



## el_ninj0 (27 October 2005)

RMI seems to be in a bit of a down trend at the moment. But its hard too see how they could go much further.
It trend is increasing its falling distance exponentially, so we could see it hit bottom fairly soon i'd think.
Any one else's thoughts?


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## Epsilon (20 October 2006)

*Re: RMI-Wo-Wo...........*

Well....No one seems to hold this little gem....OR they don't care.....
......Please keep an eye Monday, before the market opens.....You may make a quick buck or two.........

Cheers!



PS. Any kind soul around here?

Can anyone do us a small favour?
There is a guy over at Hotcopper who goes by the nick "Rolfy".....I have noticed of late he was only posting on RMI and to be honest the poor bloke sounded very very desponded...Could someone from here go over at the H/C and post this:
Rolfy...Your ordeal is OVER. Monday is the day. RMI will fly (on behalf of Epsilon-he can come here and sent me a private message)......
Please tell him that I , epsilon asked you to do this small favour. Thanking you in advance .....


PS1. I cannot post in H/C. They do not like being exposed when their very own "people"hack my computer and alter my password , so I cannot logon to H/C, so they banned me. I am sure, some other "kind souls"who also post here are aware of what I am talking about......


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## Sodapop (20 October 2006)

*Re: RMI-Wo-Wo...........*

Two words - Nickel Laterite... See JRV... Might be a goer - but that was the first thing that i saw in the last 1/4trly... Laterites are NOT fun to process... 

 :samurai:


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## Epsilon (20 October 2006)

*Re: RMI-Wo-Wo...........*

"Sodapop...My dear friend....
Have a look at Minara......Laterite nickel...From memory about the same grades......Share Price? About $5?


Well......This one: Has been the best kept secret...Over 1,2 million tones of Nickel.....
Well above most present Australian Nickel "goers"......
We have to wait until Monday....

PS. Please , do go to H/C and just under RMI....Write Rolfy...Your Ordeal Is over!


Thanks)


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## Sodapop (20 October 2006)

*Re: RMI-Wo-Wo...........*

Yeah have a look at Minara (Anaconda) - ask Andrew Forrest (and the US Bond holders who got 30 cents to the dollar) about it... Anaconda (what i prefer to know it by) - was a facsinating saga, yeah Minara is up and running (Andrew Forrest is a genius - really) - but i severly doubt if many laterite projects will get up if Ni returns to anything near historical prices (do a search on Cawse and Bulong for other Ni laterite "success stories") or unless they discover a different liberation process...  

Anyway let's wait til Monday... shan't we... hell i might even take a punt - it does look interesting as a s/t trade if the stars line up...


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## Epsilon (20 October 2006)

*Re: RMI-Wo-Wo...........*



			
				Sodapop said:
			
		

> Yeah have a look at Minara (Anaconda) - ask Andrew Forrest (and the US Bond holders who got 30 cents to the dollar) about it... Anaconda (what i prefer to know it by) - was a facsinating saga, yeah Minara is up and running (Andrew Forrest is a genius - really) - but i severly doubt if many laterite projects will get up if Ni returns to anything near historical prices (do a search on Cawse and Bulong for other Ni laterite "success stories") or unless they discover a different liberation process...
> 
> Anyway let's wait til Monday... shan't we... hell i might even take a punt - it does look interesting as a s/t trade if the stars line up...




Sod (sorry, no pejoratively meant), 
Why my good friend Nickel, OR any other metal will, should return back to this stupidly expressed, "historical price"...What Historical prices?
The ABARE  idiots?
OR the Access economics drones?
OR the International BIG Found Managers?
All three (the latter, ONLY know, BUT for obvious reasons utter what they utter, when the utter, what they utter Because they MUST...) are WRONG.
Here is the why:

How can it possibly with INFLATION (Historically, Ã¶nly", that is) be what it NATUARALLY IS (UP) is,  prices can go back?
Everything else is going stratospherically upwards, and these idiots still say gold, mid-500.s,  (ABARE'S for this, current year) metals back to....Are they real economists?
If that were to be the case, -prices going backwards- our Economies would be confronted with a much worst situation, a total anathema, called DEFLATION...In other words: When everything else is going up, YOU CAN NOT PREDICT downward trajectory for metal prices.
Here is (in simple terms, due to time, space, and environment) the ABSOLUTE why:
Like Petrrol, there is such thing as:
Metal peak as well.
No one AS YET has upon it elaborated, however, A).
the world wide drilling for base metals\gold\Uranium confirms this.
B). The world's population is INCREASING , thus more need for basic infrastructure is needed.
C). 
China, India, South America, Africa,Asia etc......These countries ARE MARKETS. 
Markets, potential markets for our capitalistic System to expand and LIVE, SURVIVE that is....
How can that happen?
Simple.
Only IF Globalisation goes further, engulfs more people, improves the life styles of more humans...
For that to occur, you need to enhance the standard of living and their purchasing capacity\power.....Before that...The infranstructure of all those newly emerging nations MUST improve!
To improve the infrastructure they NEED METALS (More so than Gold and diamonds)....
Metals (Nickel, Copper, Aluminium, Zinc, etc...-Not to mention Uranium as the Future #1 Energy provider).......
So....Where were we?
Aaaaa...yeah...Historical prices.......what a laugh!
Those guys MUST  go and historically meet their fate....The oubliettes of failed, useless economists!

Cheers)


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## YOUNG_TRADER (25 October 2006)

RMI has an incredible project, I've watched it for awhile, key word *watched*

While its nickel project at Wowo is Laterite, it is of reasonable grades and is near surface and is of a similar nature to Ramu (see HIG, has small share Chinese company came in and took out funding and majority interest)

RMI needs to find a JV partner to get this going, but its management is ****, I mean really ****, look at what they did, a few months ago they ann a SPP @ 5c with 1:2 free opies, now the best they can do is a ****ty placement @ 2.3c,

Well done!, I feel sorry for shareholders, I'd be pissed if I were you, why? Because RMI did a 10:1 share consolidation to get its share price above 2c and just look where its heading now


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## Broadside (25 October 2006)

it is an interesting company, for a 2 bit explorer it has some heavyweights showing a lot of interest

********************************************************

Lost WA ore surfaces in China battle


By John Phaceas, Perth
March 13, 2006
AdvertisementAdvertisement

A LONG-OVERLOOKED iron ore deposit in the Kimberley has become the latest battle ground in China's struggle to lock up supplies of the key steel-making material.

While Australian and Chinese diplomats lock horns over China's efforts to cap the price of iron ore imports, aggressive Chinese iron ore trader Sinom is mounting a push to oust the board of tiny West Australian explorer Resource Mining Corporation.

The contest for control of the small but rich Argyle iron ore project, 120 kilometres south of Wyndham, has also enmeshed Mt Gibson Iron and South African mining and steel baron Ralph Oppenheimer.

Sinom is one of Asia's fastest-growing iron ore traders, with plans to secure an annual production base of about 10 million tonnes.

Sinom was an early investor in RMC, after it acquired the Argyle project in 2004, and now owns about 6.5 per cent of the company.

RMC has scheduled an extraordinary meeting for April 11 after receiving a notice from Sinom, seeking to oust newly appointed director Peter Jermyn and incumbent chairman Sarbir Singh Jholl.

In their place, Sinom nominated former Bao Steel executive Zhang Chi, former Allstate Exploration and Gympie Gold executive John Leach and Mt Gibson Iron finance director Alan Rule. Mt Gibson is RMC's biggest shareholder with 13.2 per cent, while Mr Oppenheimer's Dominant Holdings last month acquired a 6.1 per cent stake from the Oppenheimer-controlled steel group Stemcor.

RMC executive director Warwick Davies said he was as much in the dark as investors about Sinom's motivation.

"It's destabilising to say the least, and it's not helpful," he said. "I'm just trying to get an iron ore project up and running"


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## krisbarry (12 December 2006)

Need to bump this thread due to much action today and massive share price rise (54.55%), followed by a speeding ticket.


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## Freeballinginawetsuit (12 December 2006)

Well it would have been nice to have picked that one on open. Maybe its found a bottom (certainly couldn't have gone much lower). Got decent volume as well.

Whats their fundamentals STC, is it a hematite deposit or manganite and whats their market cap?


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## mmmmining (12 December 2006)

Freeballinginawetsuit said:
			
		

> Well it would have been nice to have picked that one on open. Maybe its found a bottom (certainly couldn't have gone much lower). Got decent volume as well.
> 
> Whats their fundamentals STC, is it a hematite deposit or manganite and whats their market cap?




I thought this is a nickel play. Maybe some traders are playing this stock together? The volume is 8% of total.


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## exberliner1 (12 December 2006)

Nickel and Iron and Cobalt.........been some Chinese buying via SINOM recently....

Lots of 1mn+ bids today......If the closing auction had not been cancelled due to an ann.... then I it would have closed at 5.3 - 5.4 the days high.

All looking good for tomorrow

EB


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## mmmmining (13 December 2006)

exberliner1 said:
			
		

> Nickel and Iron and Cobalt.........been some Chinese buying via SINOM recently....
> 
> Lots of 1mn+ bids today......If the closing auction had not been cancelled due to an ann.... then I it would have closed at 5.3 - 5.4 the days high.
> 
> ...




Has Iron and Cobalt? It is great. Obviously I have not done enough research. I only know they have Millions tons of contained nickel, although grade like 1%, but the in ground value is tens of billions. No wonder Chinese like it. They are after resources. I hope the speed ticket will not scare away some traders.


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## Freeballinginawetsuit (13 December 2006)

Youve obviously had a quick read champ, whats the Fe grading in their samples?


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## Freeballinginawetsuit (13 December 2006)

Had a quick read I'll have a better look in the Morning.
Seems like they have a 17 million tonne JORC hematite resource at 55% Fe over a 3km strike length at their Argyle tenement.
Pretty miniscule cap and their seems to be a bit of a connection with one of the Directors with Mt Gibson. Not shy on issuing themselves shares though!.


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## krisbarry (13 December 2006)

Just a thought, but I reckon a few MLS holders jumped ship yesterday and took up positions in RMI for a quick profit


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## krisbarry (14 December 2006)

RMI has Chinese written all over it... they want it. After careful reading I have come to one conclusion that RMI is well placed in 2007 to deliver a rise in its share price.

Massive nickel and iron ore projects planned, and discussions underway with our friendly neighbours, the Chinese.

Awaiting news on a joint venture!


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## krisbarry (15 December 2006)

Nickel prices up overnight, and indeed all base metals this will support upwards momentum on RMI.

Have traded RMI over the past 2 weeks, and doing very well out of it.

Looking for an open this morning of 6 cents.


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## hitmanlam (17 December 2006)

Looking into buying into this stock pending on the monday opening price.  I like the look of the chart.  I think 2 things can happen 2morro, either a small retrace to consolidate after last weeks big rise (me holding off buying) or a continuation in trend (definite buy).  We will have to wait and see. Got my hand on the trigger.........and the alt-tab button.  (I'm going to be at work.)


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## krisbarry (18 December 2006)

6 month chart of RMI show a break-out

Higher highs and higher lows.

Although RMI finshed down on Friday the chart show its still in bullish mode as the retrace was less than the previous days full length bullish candle.


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## hitmanlam (18 December 2006)

Still holding the trigger waiting to buy in.  Retraced only slightly.  Held out well.  Very strong support at the 4.8-5c mark.  A lot of buyer support at this mark.  I would draw tight support & resistance levels at 4.8 & 5.5 respectively.  If it holds above 4.8-5c in the next few days and then breaks at 5.5c, thats a big buy signal for me.  Only time will tell.


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## mmmmining (19 December 2006)

The last four days of week see RMI's trade volume exceed 25% of total issue capital. There is no ann. regarding substantial shareholder.  It is just a group of people speculating?


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## krisbarry (19 December 2006)

Did you not notice the change of directors interest notices X 3.  Directors gobbled up millions of shares.

source: ASX (RMI) 7/12/06 announcements

When directors buy then the heards follow.

Also note that RMI are in discussion with a number of Chinese steel mills, (more speculation) will continue the share price rises, with some retraces


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## mmmmining (19 December 2006)

Stop_the_clock said:
			
		

> Did you not notice the change of directors interest notices X 3.  Directors gobbled up millions of shares.
> 
> source: ASX (RMI) 7/12/06 announcements
> 
> ...




Yes, I do. They are free shares, right issue and taking up of right issue shortfall (@2.2c?) It does not mean a lot. 

One good example is a newly appointed MTN director, using around $200,000 own money purchased the company shares. I hope it is not insider trading.


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## krisbarry (20 December 2006)

check out RDS announcement today:


RMI owns 25% of this potential world class Ni-Cu-PGE discovery. Report seem compelling however is technical to say the least.......

RDS up 17% yesterday before trading halt and looks to open up another 10% today......


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## YOUNG_TRADER (20 December 2006)

MGX selling 5m RMI @ 5.5c

Reducing its holding


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## Caliente (20 December 2006)

Got myself a reasonable parcel @ 0.049/ to get myself a stake of this RDS action.

What is the general consensus here amongst holders.

In the announcement today, RMC have noted "extremely high Cu, Ni and PGE soil lag geochemistry", but the results don't seem to be extreme by any margin.

quote: peak values of 1900ppm
Cu, 940ppm Ni and 72ppb PGE

Am I missing something here? 1900ppm is no Cudeco! Those guys are finding flaming native copper in the sand


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## Georgeb (22 December 2006)

My broker tells me RMI is a buy at these level. Does anyone know if this is a good buy?


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## mmmmining (22 December 2006)

Georgeb said:
			
		

> My broker tell me RMI is a buy at these level. Does anyone know if this is a good buy?




I bought it because of over one million tones of contained nickel. It is very attractive for a company with such small EV. I have bought it at much lower price though.

According to my judgment, recently, this stock has been traded by a group of traders. Because there is no substantial shareholders after over 25% of issue capital was traded within three days. Obvious a group of people are recycling the shares.

Therefore, the timing is very important if you do a short-term trading. For long-term,  it depends on your judgment about the value of this stock.


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## krisbarry (24 December 2006)

I like the closing comments from the Chairmans address of RMI 30/11/2006

"A recent sale of Nickel Cobalt project similar to Wowo Gap was $270 million"

source: http://www.resmin.com.au/


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## krisbarry (27 December 2006)

Good run on this one today, more expected as survey/drilling gets underway shortly


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## mmmmining (14 February 2007)

Anyone with a bit of tolerance for geopolitical risk should serious consider this little stock. With less than $25m market cap on fully diluted basis, it likely controls over nickel deposit with in ground value over US$50b! Currently the ore body is estimated at 120mt at 1.2% Ni, and 0.1%Co.

You can use 1c to control $25 deposit, or $1 to control $2500. Chines has got the Ramu nearby, it won't hurt for them to add another one. (If they stop slavery)


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## mu5hu (20 March 2007)

Stock did a nice rise today.

IMO if the stock passes todays close it should be able to keep the trend going upwards. I saw 4.3c as a resistance value due to the trend created from the previous 2 highs being connected.


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## Atomic5 (5 April 2007)

*Re: RMI-Wo-Wo...........*



Epsilon said:


> "Sodapop...My dear friend....
> Have a look at Minara......Laterite nickel...From memory about the same grades......Share Price? About $5?
> 
> Thanks)




$8.11c actually


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## kevro (7 May 2007)

RMI up today .011c from .041 to .052c (26%), just off the daily highs. Volume up around 10 times the normal of late. Drilling at Wowo gap has been going for several weeks. An ASX speeding ticket did not provide any new information.

Also drilling has been underway at the Western Musgraves with the RDS JV but RDS was quiet and stable.

Has anyone got any thoughts on this movement.


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## Ken (7 May 2007)

I looked at this last week when it was at 4.2-4.5.

It was on my watch list, but I misssed it.

I liked what I read.

Dont hold though.


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## kevro (12 May 2007)

RMI continuest to rise ending up over .6 at 6.3c. At one stage it was down in early trade half a cent at 5.1c so it was quiet a turnaround. The last speeding ticket got the standard I know nothing response but I think someone knows. I have heard a couple of rumours but I cannot say due to the fact they are unsubstantiated. In at 3.75c average and holding on.

Kevro


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## greggy (12 May 2007)

kevro said:


> RMI continuest to rise ending up over .6 at 6.3c. At one stage it was down in early trade half a cent at 5.1c so it was quiet a turnaround. The last speeding ticket got the standard I know nothing response but I think someone knows. I have heard a couple of rumours but I cannot say due to the fact they are unsubstantiated. In at 3.75c average and holding on.
> 
> Kevro




Hi Kevro,

You've done very well with this one thus far. I feel that even the smallest of nickel explorers are now having their day in the sun as the nickel price goes from strength to strength.  I'm surprised it took this long for the smaller nickel explorers to start running.  Given the panic of early Mar 07, it seems that the smart ones brave enough to hold on are now smiling the most.  Good luck with your holding.
DYOR


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## kevro (12 May 2007)

greggy said:


> Hi Kevro,
> 
> You've done very well with this one thus far. I feel that even the smallest of nickel explorers are now having their day in the sun as the nickel price goes from strength to strength.  I'm surprised it took this long for the smaller nickel explorers to start running.  Given the panic of early Mar 07, it seems that the smart ones brave enough to hold on are now smiling the most.  Good luck with your holding.
> DYOR




Hi Greggy,

Thanks for the ERL tip, did very nicely on that one and still got 100k oppies at 1c to come.

Been a very good week for RMI. I am surprised at the small number of sellers given that it has in the order of 425 million shares on hand. I think accumulation is occuring but they are have had to bring the SP up a bit to get some selling and at the same time I don't think they won't to draw attention by having another speeding ticket. 

Nickel at Wowo gap and with RDS in the West Melgraves and they are both currently being drilled. Wowo Gap is the lateric variety but the RDS JV is the sulpher variety. Looking good for the future.

Kevro


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## Fool (14 May 2007)

RMI looks like it might open at 7.5c or higher, off any good announcement this stock -should- run.

What do you guys think ?


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## sting (14 May 2007)

0.077 and rising I agree but we do need some ann. Tell me is it just quet or are companies holding info....RMI ADI AAR all have percieved positive news sp 's are up but no word or ann if we dont here something soon I can see these prices falling back again

semper ubi sub ubi


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## greggy (15 May 2007)

kevro said:


> Hi Greggy,
> 
> Thanks for the ERL tip, did very nicely on that one and still got 100k oppies at 1c to come.
> 
> ...




Kevro,

Your most certainly welcome. I'm glad ERL has made you a good profit. As for RMI, to have 2 drilling programs for nickel underway, this is good timing indeed.  With the nickel price going from strength to strength, any positive results are liking to have a strong impact on RMI's share price.  RMI's share price has done well of late as the market has taken a strong liking to the smaller nickel plays.    
DYOR


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## Georgeb (15 May 2007)

The Nickel and Iron Ore projects are a company maker and if my sources are correct expect a huge increase in price in the coming months.


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## Joules MM1 (2 July 2007)

*........and nice vols today*

Only have to watch the volume to know that  a news release is pending with this stock.........like a kitchen sieve ............today maybe a different ball-game.........I am long on this stock from .042 through to .052 and see more inside activity from deep-sea drivers  ............


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## prawn_86 (5 July 2007)

ok all, i believe its time i start contributing something back to ASF!!

this is my first real attempt at an in depth analysis so go easy on me, and i am more than happy to be corrected on any issues/calcualations.


*RMI - Resource Mining Corporation*​Nickel play in PNG with other iron ore and cu tenants in Aus. Has its finger in many pies.
Is also sitting on a promising haematite iron ore tenement, which can only add value into the future.


*WOWO*
jorc inferred 120mt @ 1.2% ni and 0.1% cobalt
assume ni price of USD$35000 per tonne
cobalt price of USD$95 per pound

120mt * .012 = 1.4m
1.4m * 35000 = USD$5billion (or is it $50bill)

share on issue - 427542812 * sp of 6c = 25.6mill market cap

therefore, current market cap vs NPV of ni alone = <0.5% as all figures are in USD


*Argyle Iron Ore*
The Argyle Iron Ore Project is situated 120 kilometres south of the Wyndham in the eastern Kimberley of Western Australia

RMC is seeking to prove sufficient haematite reserves with respect to tonnage and grade to sustain an annual production and shipping rate of 1.0 to 1.5 Mt per annum


*Advantages:*
Outlined above, plus close access to river for shipping etc
Chinese board connection
lots of other tenaments
ANZ major holder (8.4%)

*Disadvantages:*
relatively unknown board
PNG issues
High cost setup of nickel laterite mines/processing
Other companies have faced similar issues at nickel laterite projects. Inco recently announced similar cost blowouts and delays at its $US2 billion-plus Goro development in New Caledonia

*Other Info*
3 other main tennants on which they are seeking JV or happy just to sit on.

I believe the wowo announcement will be the start of a re-rating. 

Hasnt run yet, giving us time to set ourselves, as we did for FNT.

Already a JV partner with Straits (top 200 company) with their three rivers project.

50% held by top 20

www.resmin.com.au



please let me know what you think.
I hold from 0.058


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## YOUNG_TRADER (5 July 2007)

Nice work prawn,

Its great to see others doing analysis,

As I said to you, I like RMI I have been watching them for about 12 months, however their Iron Ore project is stranded and the Nickel project has a very low confidence level

So I will look at the stock when either of the following occur
1. A JV or clearer path for development appears at Argyle

2. Drilling assays at WOWO GAP to increase confidence

3. Some better drill results at RDS JV


Good luck


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## prawn_86 (5 July 2007)

the drilling assays from wowo should be out within the next 4 weeks maximum, if the info i have is correct.

seems to be a bit of increased interest of late, but i would like to get a techies opinion if any of them read this thread please. looks to be in a long term up trend over the last year according to me.

this is a bottom drawer stock for me and i am happy to hold for a while until positive news, due to the massive difference highlighted in my previous post.


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## prawn_86 (5 July 2007)

prawn_86 said:


> *WOWO*
> jorc inferred 120mt @ 1.2% ni and 0.1% cobalt
> assume ni price of USD$35000 per tonne
> cobalt price of USD$95 per pound
> ...




just did some follow up and it should be $50billion, not 5 bill as i had there. this is a real potential company maker.

does anyone know much about the management team?


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## prawn_86 (5 July 2007)

does anyone have any feedback/querys as to my analysis? aside from what YT has said

like i said, its a first for me so just looking to improve.


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## WRONG'UN (5 July 2007)

Hi Prawn 86
Thanks for your informative post.
( It might pay to check the cobalt price - the latest price at cobalt.bhpbilliton.com is $US27.20/lb cf your assumed $US95 - don't worry, this has no effect on your conclusions )
I maintain a spreadsheet of about fifty resource companies which calculates the ratio of the in-situ value of each company's resource to the market capitalization of the company. The ratios are then sorted in descending order. RMI's Wowo project has a ratio today of about 2500 ( ie. < 0.04% the other way, which ties in with your < 0.05% - yes, it is $50B ). This puts it at the top of my list, by a considerable margin, and miles above other explorers in the 25 to 100 range and producers which are typically less than 10. And then there are the Argyle and other projects.
My spreadsheet is not rocket science, and is nothing like the detailed stuff done in broker reports and indeed as presented by well informed contributers on this forum. However it does give a rough method of assessing relativity between various companies, and sometimes throws up a potential gem - RMI  could be one of these, notwithstanding YT's genuine concerns. The results of the current drilling will therefore be very interesting.
From a technical perspective the attached weekly line chart ( close ) is looking promising - the price is above the 30 week wma ( ref Weinstein ) and looks poised to break a resistance zone between 6.3 and 7.0 ( may need some positive news on the drilling front ). The steady buildup in volume that has accompanied this year's rise is also good news.
An interesting observation is the fact that RMI has closed at its daily high only once since 10 May - time and again it has either opened at its high, or has been propelled to its high, only to fall back later in the day. Evidence that this persistent selling is ending could be an increase in the frequency of "close at the high" days - a sign of an imminent breakout?
( This is my first attempt to post a chart, so hope it works! )
I am not a financial advisor, so do your own research.


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## Bushman (5 July 2007)

'The Wowo Gap Project is located about 200km east of Port Moresby, and 35km from the villages of Safia, near the Musa River and Wanigela, situated on Collingwood Bay.' Anyone have any idea of the topography of this area?  PNG is a rugged, mountainous country so it would be interesting to know where the deposit lies and how they intend to move it to a port.  Any similar type laterite projects out there that can give some sort if capex indicator? 

In terms of ann, I would really like to see the exploration licence renewed as a first step. Then obviously firming up the estimate (120 mt), feasos etc. 

What is a given is that the resource, if proven, is a sh*tload of Ni.


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## prawn_86 (6 July 2007)

Bushman said:


> 'The Wowo Gap Project is located about 200km east of Port Moresby, and 35km from the villages of Safia, near the Musa River and Wanigela, situated on Collingwood Bay.' Anyone have any idea of the topography of this area?  PNG is a rugged, mountainous country so it would be interesting to know where the deposit lies and how they intend to move it to a port.  Any similar type laterite projects out there that can give some sort if capex indicator?
> 
> In terms of ann, I would really like to see the exploration licence renewed as a first step. Then obviously firming up the estimate (120 mt), feasos etc.
> 
> What is a given is that the resource, if proven, is a sh*tload of Ni.




not too sure about the topography, but one of the rumours i have heard is  that they would be able to use a barge to get the ore/ni(is there a proper name for it?) down to the port, due to the proximity of the river.

apart from what i posted in my first post with regards to nickel laterite i couldnt find much more info, apart from the fact that it can be difficult, although a resource this size would be enough to cover the costs/get finance one would hope.


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## WRONG'UN (6 July 2007)

Yes, information about the topography is an issue for me.
The 2006 AGM presentation has aerial photos of the site which suggest a reasonably flat plateau area between mountainous terrain. If the sample GPR cross section is also from the site, it would provide some confirmation of this -at least the ground surface on that section is not on a 45 degree slope!
Can someone with Google Earth take a 3D look at the area if this is possible?
The GPR section itself looks impressive, with the different zones clearly identified. I can understand why the company is confident they can accurately quantify a resource with fewer drillholes than would otherwise be required in the absence of GPR.
There is now an April 2007 report by Patersons on the recently improved website. Some key points are:
Resource:
"RMI's objective is to define an indicated resource of over 200mt" ( the current inferred resource is 120mt )
Changes to PNG Mining Act:
"... no assurance can be given over renewal of any Exploration Licences in the PNG"
Land Ownership:
"... no assurance can be given that disruptions won't occur"

There is also the outlook for the nickel price itself - it has fallen over 30% from its recent high - where to from here?


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## prawn_86 (6 July 2007)

nickel is currently at the same price as it was a year ago, im not too sure about the supply and demand side of things, anyone out there that is?

but in a bull commodity cycle one wouldnt think it can keep falling. even using half my calculations it still gives $17.5 billion which is still a significant number.

i have google earth but cannot find the longitude and latitudes on the co's website. have i missed it somewhere?


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## prawn_86 (6 July 2007)

sorry to double post, but i just got an email from the company with regards to some questions i asked:

1  I'm wondering when your first round of drilling results from Wowo are likely to be announced.

2  Also what your companies current activities are and what's planned next?



Here's the response:



> Drilling is slower than planned, the first holes have been completed but we are having problems getting the core out as all helicopters are occupied with the current election activity. (Politicians and Govt officials have priority on access to choppers). We expect that once the elections are over, we'll have more predictable access. We don't expect any assay results until closer to the end-of-the-month.
> 
> Our activities remain:
> 
> ...




http://http://www.radioaustralia.net.au/news/stories/s1968245.htm this link talks about helicopters in PNG and how they are used.

hope this all helps!


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## WRONG'UN (6 July 2007)

Well done checking out the programme for the drilling results - the end of the month is only three weeks away. The good news is that the holes are only about 20m deep, so they should cover a large area relatively quickly. And presumably a shallow deposit in itself is good - open cut mining.
I found the coordinates of Wowo on p2 of the company's announcement of 19July 2006. They are: 9 degrees 33 minutes South, 148 degrees 55 minutes East.
I agree with your comments on the Ni price. Two positives from the Kitco charts: a. a possible support level around the $US16/lb level. b. LME Ni stocks are still very low.
Cheers.


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## YOUNG_TRADER (6 July 2007)

Hey Prawn,

Pato's did a research report on it not too long ago, they like me are waiting for 1 of the following before they take a proper interest in the stock

*1. A JV or clearer path for development appears at Argyle

2. Drilling assays at WOWO GAP to increase confidence

3. Some better drill results at RDS JV*

Until then I don't expect it to move much,

Also I wouldn't expect WOWO assays to be reported for at least 4-6weeks (more likely 6 weeks) so there is still time to sit and wait

Some good research there though


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## prawn_86 (6 July 2007)

WRONG'UN said:


> Well done checking out the programme for the drilling results - the end of the month is only three weeks away. The good news is that the holes are only about 20m deep, so they should cover a large area relatively quickly. And presumably a shallow deposit in itself is good - open cut mining.
> I found the coordinates of Wowo on p2 of the company's announcement of 19July 2006. They are: 9 degrees 33 minutes South, 148 degrees 55 minutes East.
> I agree with your comments on the Ni price. Two positives from the Kitco charts: a. a possible support level around the $US16/lb level. b. LME Ni stocks are still very low.
> Cheers.




i had a look on google earth, but there is not enough detail. all you can see is jungle pretty much. i dont think their satellites focus too much on PNG


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## WRONG'UN (6 July 2007)

Oh well, it was worth a try - thanks.
On reading the website more closely I see that the company describes the site as a "relatively flat plateau", pretty close to my "reasonably flat plateau" suggestion - so I think we can safely assume that the terrain at the site isn't too bad. Getting road access to the site ( elevation 700m ) is another matter of course.
This has been a really interesting thread - thanks to all contributors.


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## skiper (10 July 2007)

Going by todays action, i'd reckon they have got over the terrain issue and a lot of people are aware of this, lol


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## moneymajix (10 July 2007)

Yes. Up over 26% today.

It has been pumped before.

As news seems to be due farily soon, I am hoping that it is a good ann. which is moving the share price.

LOL to all holders especially the longer term ones.


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## YOUNG_TRADER (10 July 2007)

After taking profits on YML yesterday and a few CUL today I finally bought a proper position in RMI today, I paid up to buying the bulk of my position at 7.4c-7.5c, I know I should have waited but when 2m is on the sell I take it,

I have watched this stock and traded it on and off for 9- 12months, 

However I believe that the upcoming assays due from Wowo will cause a re-rating of this stock,

Anyway I will post up some detailed research soon, although Prawn hs already done some excellent analysis on the company and in part his research is what caused me to jump into RMI so soon


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## Snakey (10 July 2007)

YOUNG_TRADER said:


> After taking profits on YML yesterday and a few CUL today I finally bought a proper position in RMI today, I paid up to buying the bulk of my position at 7.4c-7.5c, I know I should have waited but when 2m is on the sell I take it,
> 
> I have watched this stock and traded it on and off for 9- 12months,
> 
> ...




Nice to know that a stock im holding has the yt stamp of approval
That should help the price a bit


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## YOUNG_TRADER (10 July 2007)

Well looking at the chart I really wish I had bought some yesterday or the day before or any day before, lol I really paid up at 7.5c but well at least I got my fill there as I'd be paying up even more now,

To begin with I recommend that everyone take a visit to the Res Min web page and read the latest report by Patersons 

http://www.resmin.com.au/Investor-Centre/Broker-Research-and-Presentations.aspx

Stock has run hard today, so if your thinking of buying, I'd say at the very least take a look at the charts, the way it trades etc etc and then decide, traders may exit tomorrow who knows, just please please don't rush and buy because I am posting on it.

I will do a full write up soon, I really see a re-rating once Wowo assays are back and have alot more confidence in the Wowo project after doing some detailed research on it via PNG archives etc etc


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## YOUNG_TRADER (10 July 2007)

Guys sorry it took me so long to get this done, but have been trying to trade while researching/typing etc etc



*RMI*​
*
Mkt Structure*
*
Shares*
430m
Mkt Cap @ 7c = $30m Current
Mkt Cap @ 15c = $65m Target 1
Mkt Cap @ 20c = $86m Target 2
*
TOP 20 = 52%
Substantial Shareholders
Sinom (Hong Kon Stell/Iron ore Insto Group) 13.4%
ANZ 8.4%
Mount Gibson Iron MGX 7.4%*

*
Cash*
*$2m* not alot so will obviously need more down the track

*
Projects*


*
Wowo Gap  * _Nickel, 100%, PNG_
*120mT@1.2%Ni + 0.1%Co = 1.7%Ni Equiv*

Note that my research on Wowo Gap has found that based on all the historical work, the PNG government is confident to quote a JORC of
*300Mt@1.6%Ni Equiv*

*Valuation
As its a laterite Project I'd say once the JORC is firmed up a $1000/t  EV is appropriate (Note Spot $35k - $50k/t)

For now until we recieve assays and confirmation of the mineralisation I will use $100/t Ni EV

120Mt@1.7%Ni Equiv = 2Mt+ Ni @ $100 = $200m = 47c RMI*

Now the mian points are
1. Although the current JORC has a low confidence level, detailed research of PNG databases has revealed a JORC of 300Mt@1.6%Ni Equiv is being quoted, so there is plenty of upside to the jorc, this in turn has greatly increased my confidence in the project.

2. Given the huge technical and infrastructure costs, a JV with a major is a must! = Farming out/down of interest, but see HIG, they sold a majority stake in Ramu (145Mt@1.5%Ni Equiv) to the Chinese so a JV partner shouldn't be a problem

*
Blackstone/Michael Hills* _Ni/Cu/PGE/PGM, 25% Free Carried by RDS, Musgrave Province W.A._
The project is 30Km's away from WMC's Babel and Nebo Nickel Sulphide deposits,

While its early stages, Patersons are highly encouraged by the work so far and belive that RDS/RMI are onto something quite promising here

*Valuation
I like Patersons fully agree that the bulk of RDS's current mkt cap is attributable to these projects,
Hence a comparative valuation can be made

RDS 90m shares @ $1.40 = $26m for 75% Interest

Thus RMI's 25% Interst is worth $42m = 9-10c approx RMI*

*
Argyle* _Iron, 75%, W.A. near Wyndham_
*JORC 17Mt@55%Fe* 

Unfortuantely this deposit is somewhat stranded and RMI will need to show a clearer path to development before I will value it properly,

However apparantly their has been strong Chinese interest in a potential JV, once one appears I will re value this project

*Valuation
As stated, due to development uncertainty the project only deserves an EV of $2.50/t vs $5/t I was happy to use for CUL's

17Mt@55%Fe = 9.35Mt, 75% Interest = Net 7Mt's Fe
7Mt's Fe @ $2.50/t = $17.5m = 4c RMI

If a chinese JV or clearer path to development appears I will be happy to use $5/t = 8c RMI
*


*
Qld 3 Rivers* _Ni/Cu, 10% Free Carried by SRL, Greenvale Qld_
*SRL* should have drilled 3 deep holes to test for NI/Cu sulphides, not sure where this project is at


*
Summary*

*- WOWO could be a company making project, remember JRV's run? 400% in a month based on its huge laterite Nickel Project
- The RDS JV underwrites/implies an SP of 9c-10c
- The Argyle Iron Ore Project adds 4c in spec value (8c once I see JV etc)


Total Value I see pre Wowo Gap rerating = 23c 
After more confidence in Wowo = 40c+
*


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## ideaforlife (10 July 2007)

Just small piece of information. One of the directors Zhang Chi is the founder of Sinom (the largest shareholder so far).


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## kromey (10 July 2007)

Hi YT do you see better value in RMI or CUL?  They both are interesting i posted on the 26th June on HC for opinions. Cheers in advance.


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## skiper (10 July 2007)

YOUNG_TRADER said:


> Well looking at the chart I really wish I had bought some yesterday or the day before or any day before, lol I really paid up at 7.5c but well at least I got my fill there as I'd be paying up even more now,
> 
> To begin with I recommend that everyone take a visit to the Res Min web page and read the latest report by Patersons
> 
> ...




Nice YT, Nice, thanks for your input yet again, interesting day tomorrow, especially the open i would have thought.

Cheers


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## prawn_86 (10 July 2007)

funny how the market reacts to YT's research and not mine lol. the only ppl who listen to me are my dad and a friend.

but seriously it is good to see what has happened today and hopefully with the upcoming ann it sustains the current price, although i wouldnt be suprised to see a bit of a drop in the next couple days to around 8c maybe.

just my opinion


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## mobcat (10 July 2007)

Guys this ones a nice package hey with a great balance of spec to give it a edge always a positive IMO for a good earner .

i tried to ring my brother tonight he,s a pilot in PNG but hes working with the fuzzies and will get back to me with the local goss on RMI,s play he,s up to his lips in FNT with me and after todays info and movement i went in hard on RMI had a dabble in march with it and picked up a few but today i jumped into it with the movement and YT,s reco was lucky enough to pick up a large parcel @ 7.5 av so i am nicely positioned ATM cant wait for the opening could be a nice one to watch all the signs are their up 36% on 56 mil vol count me in for the long haul in the 30,s is my target good luck all


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## spottygoose (10 July 2007)

prawn_86 said:


> funny how the market reacts to YT's research and not mine lol. the only ppl who listen to me are my dad and a friend.
> 
> but seriously it is good to see what has happened today and hopefully with the upcoming ann it sustains the current price, although i wouldnt be suprised to see a bit of a drop in the next couple days to around 8c maybe.
> 
> just my opinion




Aww Prawn I read your research and you did a great job in bringing it to our attention.  YT's the man of the moment ... but even he has acknowledged the job you did here. So well done and thank you Mr Prawn!


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## prawn_86 (10 July 2007)

lol thanks goose.

im not complaining. YT has am uch better track record than me, hell i'd probably listen to him over me! 

its just good to see my research being justified 

happy investing/trading


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## mobcat (10 July 2007)

Yeah good stuff prawn job well done both you and yt i waved this one on before you guys pointed out the fundies i will look at a prawn a lot diffrently from now on before i shove it in my gob or on the barbie LOL thanks again guys  good fortune for all holders


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## cuttlefish (10 July 2007)

looked at RMI a while back as well.  The nickel resource is massive but it is laterite and its in the middle of nowhere from memory.  To develop it will likely cost billions just on location alone (infrastructure to get the ore to the coast over/through mountains etc. Building a port/terminal to load the ore or concentrate onto ships, power supply needs to come from somewhere etc. Then on top of that its a laterite deposit and a lot of it low grade.  Laterite is difficult to process, requires leaching etc.  its not sulphides - recovery rates are lower.   All this means it will be a very long time and a lot of dollars/dilution via either capital raisings or joint ventures before anyone's producing nickel from wowo.  Add to that questionable management and potential political issues from PNG govt - though precedent has been set with the other project being approved.  I do recall at the time thinking that the iron ore project was more likely to be a source of value for this stock than the nickel project.

That being said, $50 billion in-ground nickel value has a speculative attraction about it and I'm sure big figures like that will have plenty jumping on board.  But if you're looking at a real return its a long way off, and who know's what nickel prices will be looking like by then.

Not wanting to throw water on anyone's fire but this is true spec I would have thought (again except potentially for the iron ore - though I think grades are at the lower end of what would be desirable for iron ore, and I don't know if any metallurgy has been done etc. so thats also a long way from being anything concrete).

There's other significant Ni Laterite deposits around, including in Australia near infrastructure, that are far more likely to be developed in the near term than wowo I would have thought.


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## Tiberium (11 July 2007)

*Valuation
As its a laterite Project I'd say once the JORC is firmed up a $1000/t  EV is appropriate (Note Spot $35k - $50k/t)

For now until we recieve assays and confirmation of the mineralisation I will use $100/t Ni EV

120Mt@1.7%Ni Equiv = 2Mt+ Ni @ $100 = $200m = 47c RMI*

Hi YT,
Could you please explain a bit more on how did you get $1000/t or $100/t Ni EV from? How did you calculate it?
Thanking you in advance.
Best Regards,
Tiberium


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## YOUNG_TRADER (11 July 2007)

Most Nickel *Sulphide* miners/producers/soon to be producers trade on an EV of $10,000 /t, for *RMI = $20 Billion*

But RMI is not a sulphide play its a laterite play,

As such I think due to the inherent technological and processing risks, 10% EV of what the sulphides get is appropriate

*
But @ 10% that would still = $2 Billion to RMI*

And given their is a low confidence in the JORC etc (even though the PNG Gov't quote a JORC 2.5x the size that RMI are, and like MGO its based on historical so we know its there, ie the ore didn't just get up and walk away, its not really that low confidence) but for arguments sake lets say 10% confidence in the JORC and 10% confidence in the development options,
*
IE applying only a 1% EV value to Wowo as it stands = $200m = 46.5c RMI*

So as you can see Wowo is the real company making project!
*
But as Patersons said in their report, paying up to 9c for RMI only values its RDS JV and gives 0 value to Argyle or Wowo Gap project!*

Note report is found on web page here http://www.resmin.com.au/Investor-Ce...entations.aspx


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## cuttlefish (11 July 2007)

metallical minerals has over 200,000 tonnes of contained Ni laterite in a low grade deposit in QLD near infrastructure - they're doing metallurgical testing at the moment.  Extraction target is 60-80% extraction rate after 4 to 9 months heap leaching utilising 300-500 kg acid per tonne.  Its an expensive and time consuming process.

There are other Australian base Ni laterite deposits larger and of higher grade than MLM's as well (in smaller capped companies than MLM or RMI).


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## prawn_86 (11 July 2007)

cuttlefish, problems with laterite mines are one of the disadvantages i listed in my initial analysis.

admittedly i dont know too much about them, all i know is that they cost a heap and are difficult to get going.

however, i generally dont hold stocks like to see them come into production. i would rather hold for the medium term and once what i believe a good value has been reached to move to something else. FNT is an example, as it is many years and problems away from mining but still offers good potential for the shareholders to make money.

but thankyou for pointing out what is probably RMI's biggest problem if they were to ever start mining


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## YOUNG_TRADER (11 July 2007)

Hey Prawn,

Forgot to say thanks, as I said, I have been watching and trading in and out of RMI for ages, but I never really committed to a proper position, however your research prompted me to take another look as RMI was one I always wanted to have a proper position in as well,

After reading the Pato's report I realised that regardless of Wowo, RMI should trade at minimum 10c,

9c based on RDS JV and 4c based on Argyle, 10c-13c

So really buying RMI below 9c say was really a no brainer and haveing taken some profits on YML and CUL the other day I decided it was time to get set with RMI, unfortunately I hesitated with buying up and had to eventually pay up to 7.5C but Long Term it doesn't bother me and I even grabbed a few more today,

Cuttle Fish hence why I used a 1% of potential EV of Wowo and not 5% or 10%, I think 1% seems reasonable.

In any event right now its getting attributed 0% value


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## YOUNG_TRADER (11 July 2007)

Well it was good to see RMI close at days high of 9.2c,

Volume today was 40m, compared with 50m yesterday, but given the higher price the $ that changed hands was probably greater today,

Certainly has confirmed its breakout ie not another pump and dump and given the buy depth and charts I'd say 8c seems like support,

What do others reckon?


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## mobcat (11 July 2007)

Yeah sure was nice to watch today guys some serious off screen plays went through 7 mil at 3oclock give or take a mil tomorrow is our day i hope bang the volume up and run for ten thats the hurdle at this stage imo if we can break it tomorrow and then find a perch to sit i will be a very happy camper the sentiment pre wowo is a mystery and joy to behold if it swings our way on no ann we can be in for some fun.

I spoke to my brother today in PNG and he's going to check it out for us he's heard info on it but cant really remember he was saying FNT is hot in PNG atm with the locals and some of the rumours are huge as per usual with PNG good stuff hey............................. sorting  the ship from the clay over their is a art.
I am actually heading over to PNG in August for a fishing trip and booze up with the groovers over there great fun to be had in a crazy part of the world hope i come back full of goss because i will be asking the questions we all want answered, and flying around PNG with my brother you sure get some good answers anyway good luck all and i hope tomorrow brings what we all want $$$$$$


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## prawn_86 (11 July 2007)

any techies out there wanna share their thoughts?

closing on a high 2 days in a row is a good thing right?

thanks in advance


----------



## nomore4s (11 July 2007)

prawn_86 said:


> any techies out there wanna share their thoughts?
> 
> closing on a high 2 days in a row is a good thing right?
> 
> thanks in advance




Prawn

T/A wise it looks very, very good. Broke out of a trading range in May, consolidated for a couple of months in an acsending triangle before breaking out very strongly with massive volume. The closes on the high with such large range bars is very positive - demand looking for supply and willing to pay for it too.
I would trade this purely off the chart thats how good it looks, pity I didn't see this earlier.

It may pull back a little or consoildate for a while at the current level but with the massive vol of the last 2 days it could just keep running, although I imagine that 10c will provide a bit of resistance.

Good spot Prawn well done.

Good luck to holders.


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## jtb (11 July 2007)

mobcat said:


> Yeah sure was nice to watch today guys some serious off screen plays went through 7 mil at 3oclock give or take a mil




Very very few orders were for more than 100K shares either yesterday or today .
0.075 was the exception yesterday with an average vol' of about double that.

The volume weighted avg however is up a cent over yesterday (0.087 : 0.078) which shows the buyers are chasing the sellers.

Not in , just watching


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## YOUNG_TRADER (12 July 2007)

I used todays weakness to buy up another 1m shares,

For now company looks to be in a stale mate but the buyers appear to be gathering between 8c-8.4c

I don't get why people buy like that, me if I see a sell big enough to fill my desired buy I come offscreen and take it, I guess these people are just hoping a reall really big seller comes along,

If CUL was anything to go by, we can expect a bit of consolidation which is good before an eventual push up towards 10c,

As I have already said, I see buying below 9c as low risk given that the JV with RDS implies this as a minimum, So rigth now Argyle and Wowo are free


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## YOUNG_TRADER (12 July 2007)

Heres some of the info I used in doing my research

See here http://www.pecc.org/community/minerals-shanxi-2005/papers/howard-lole(paper).pdf

WOWO GAP (NICKEL LATERITE)
LOCATION: Wowo, Oro Province
OPERATOR: Niugini Nickels Ltd.
OWNERSHIP: Niugini Nickels Ltd 100%
STATUS: EL 1165 (94.4km²),
YEAR GRANTED: 1996
BACKGROUND
The Wowo Gap Project is huge laterite deposit with a potential for a global resource of in access of 300 Mt of lateritic and saprolitic ore that has developed over a peridotite breccia. There is lot of potential outside the current project area as well. Within the project area previous exploration of Wowo Gap laterite nickel deposit has outlined a resource of 62 Mt @1.8% Ni equivalent
The project area under exploration licence (EL1165) granted to Niugni Nickels in 1996 was first discovered in 1958. Several exploration companies had explored it since and a prefeasiility was carried out in 1972 found the deposit uneconomic. The metallurgy, stripping characteristics and location of Wowo Gap compares favourably with other lateric nickel deposits. Further drilling and pitting are required to bring the project to the feasibility study stage.
The Wowo Gap Project is located about 200 kilometres east of Port Moresby, and 35 kilometres from the towns of Safia, near the Musa River and Wanigela, situated on Collingwood Bay. The deposit is located at the eastern end of the Didana Range in a topographic saddle some 700 meters above sea level. The area is drained by the Musa River and its various tributaries, the largest of which is Bereruma Creek which flows north from the deposit.
CURRENT STATUS
Since the granting of the Licence Niugini Nickel NL has undertaken review of past data and there were periods of low activity corresponding to low commodity price and the asian economic crisis. The drilling completed in 2003 was only within the laterite developed on the foliated ultramafic. Drilling of the Sivai Breccia was completed in 2004. Soil and young volcanic ash overlies limonite- and saprolite-laterite profiles.
The limonite profile, 1 to 10 metres, thick consists of clay with iron oxides. Commonly this material in the diamond core contains no boulders. At similar depths in the pits there are small weathered boulders, particularly at the bottom of the profile. It is probable that the diamond bit has pushed the small boulders away in the limonite-clay rich material. Only when the boulders are large enough to resist the downward thrust of the drill stem have they been penetrated.
The saprolite profile, 1 to 15 metres thick, consists of serpentine and garnierite with clay. This material also contains significant sections of boulders. The boulders are interspersed with the saprolite material. This lower section of the profile was previously not seen in the pits or wacker drilling, as this material was too hard to have been previously penetrated
16
Sources of Saprolite include: New Caledonia, Philippines and Indonesia. Saprolite is used as a direct feed for the production of Ferronickel with Ferronickel accounting for approximately 38% of the world’s primary nickel production.
Ferronickel smelters are located throughout the world with significant production centres situated in New Caledonia, Indonesia, and Japan. The latter relies 100% on imported material to satisfy demand, with the three smelters in Japan importing approximately 3.0 Mtpa of Saprolite averaging 2.35% Ni. RMC understands that +2.0% Ni grade Saprolite ore sells for +US$35.00/wmt. RMC has initiated discussions with selected Japanese companies involved in the Saprolite trade to determine interest in Wowo Gap’s role as a potential Saprolite ore source of the future.
Planning is underway for the commencement of a Wacker drilling programme at Awariobo once the Wowo Gap drilling is complete.
WOWO GAP REOURCES
The reported “inferred resource with a0.8% nickel cutt off from pits, previous diamond drilling and wacker drilling is;
Central Zone Limonite 30.9Mt @ 1.09% Ni and 0.11%Co
Saprolite 17.9Mt @ 1.44% Ni and 0.04%Co
Northern Zone Limonite 18.0Mt @ 1.02% Ni and 0.11%Co
Total 66.8Mt @ 1.17% Ni and 0.09%Co
However comparisons of work by Niugini Nickel indicate that limonite profile of limonite were twice as thick and as a result potentially doubles the resource potential of the limonite drilled area.
Limited drilling in the Central Zone indicated that with further drilling there is a potential to conceptually increase the increase significantly from 18Mt, as as no saprolite ore has been factored into this resource. The Ther is significant resource open to the north and south and will be furter teste by continuing the current drilling program across s the Sivai Breccia and immendiately to the north and south.
Comparing the Wowo Gap nickel deposit with the Ramu nickel deposit you can see that the global resource at Ramu is 143 Mt @ 1.01% Nickel and 0.01% cobalt.


----------



## YOUNG_TRADER (12 July 2007)

And below is an extract of a Map from that report (link above) which shows Wowo's location, 

It also compares Wowo to Ramu, which is important as many thought Ramu would not get off the ground due to infrastrucutre requirments etc etc but then the Chinese came along and bought a huge stake in Ramu and guaranteed funding and so began the Ramu development story


----------



## KIWIKARLOS (12 July 2007)

Well certainly looks like they have potential. Their reserves appear to be potentially much larger and quite higher in grade. So i take it they need to do alot more drilling to prove up the resource.

The only thing against it is the topography, very steep terrain? Is there any existing infrastructure near by?


----------



## cuttlefish (12 July 2007)

Another thing I remember about reading about the wowo project is the environmental concerns.  I'm no greenie and I know all mining at the end of the day has a pretty serious impact on the environment - but this one sounds like it has the potential to be one of those headlining sort of environmental impacts that affect a region and its population.

Here's an extract about it:
_Since 1998, the Ramu Mine has been the subject of considerable controversy in both Papua New Guinea and Australia, in particular due to  concerns that its ocean dumping (submarine tailings disposal or STD) operation could adversely affect the ecology of Astrolabe Bay. Local people along the Madang coastline are dependant on the ecological health of the region and the wider Astrolabe Bay, which now supports an extensive tuna fishery. River communities downstream of the mine hold similar concerns over the potential impacts on their resources. *For these reasons, the New Guinean National Fisheries Authority wrote in an report that,“The Ramu Nickel Mine Project is an unsustainable project socially, economically, and environmentally; and cannot be allowed to proceed*.”_(http://www.mpi.org.au/regions/pacific/png/ramu/)

wowo is in a different location to ramu - not sure of the topology of the area or access to deep harbour. Capex estimate for ramu $1 billion. Thats a lot of dilution via JV or capital raising.


----------



## cuttlefish (12 July 2007)

note the information in the above post is in relation to the Ramu project which was approved earlier last year but is pertinent to wowo as they are both similar size, grade Ni laterite resources in png.


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## YOUNG_TRADER (12 July 2007)

Kiwik, don't think there's much, but then that was the case with Ramu and the Chinese are taking care of it 

Cuttlefish, yeah large mining projects always have environmental and I know this sounds bad but thats why I like PNG, you see PNG unlike Australia is heavily and I mean heavily dependent on Mining as a source of Government Revenue and employment, as such they let projects go through that are damaging to the environment etc,

See MGO is also near Ramu and if Ramu had environmental implications, then arguably so to does MGO's, but I have no doubt they'll get their project going regardless of the impact. I mean MGO is partly owned by the PNG Govt Superfunds, get the picture.

The point I'm trying to make is in regards to PNG, very few things stand in the way of mining (apart from Feasibility and Spot Prices)

As I calculated, based on RMI's last JORC Wowo contains 2Mt's of Nickel, if we tak a long term price of $20k AUD/t vs current $40k/t and assume an operating margin of 25% = Operating Cash Flows of $5k/t for 2Mts = $10Billion, so even if Cap Ex was $1Billion you can see the value would be $9Billion

As for financing I THINK THERES IS ABSOLUTELY NO WAY RMI CAN DEVELOP THIS PROJECT ON ITS OWN, NO WAY AT ALL!

But then I'm 90% positive that with a higher confidence in the JORC (ie after drill assays) a major like Xstrata if not the Chinese will JV with RMI,

An ideal outcome would be a 20% Free Carried Interest or something like that


----------



## KIWIKARLOS (12 July 2007)

Yeah i was actually just looking into another company BOC bouganville copper mine or something which i believe is a sub of rio or BHP or something. Back in 1989 the PNG gov forced them to close the mine becasue of environmental concerns and it actually wiped about 20% of PNGs GDP at the Time!

After Ok tedi and so on i think they still ahve environmental concerns and if you know anything about this ocean dumping of mining waste it actually is nasty stuff! it destroys entire ecosystems. Morally i dont like to support such projects but simply not buying into a company because of that isn't going to effect anything well not with my tiny bank balance anyway


----------



## cuttlefish (12 July 2007)

kiwi - buying into a company has the effect of supporting or enhancing its price. The higher a companies share price and the better supported the more easily they can raise capital and continue in the direction they're going - so in effect buying shares can have an effect on whether a project goes ahead or not. (in the same way that in theory your vote could cause a change of govt). 

To me the wowo project is not so much about the discovery but about the funding and development.  Whoever funds it will effectively end up owning it - RMI would get some return for supplying the ground but not much more.  Also whoever funds it effectively controls it and can leave RMI (or more significantly its shareholders) in the cold.  Examples of ways this happens are just issuing more capital to the JV partner ad infinitum as the project progresses diluting holdings of the minor shareholders.


----------



## YOUNG_TRADER (12 July 2007)

cuttlefish said:


> To me the wowo project is not so much about the discovery but about the funding and development.  Whoever funds it will effectively end up owning it - RMI would get some return for supplying the ground but not much more.  Also whoever funds it effectively controls it and can leave RMI (or more significantly its shareholders) in the cold.  Examples of ways this happens are just issuing more capital to the JV partner ad infinitum as the project progresses diluting holdings of the minor shareholders.




You could arguably say this about any company that JV's its projects to a major, the point I'm making is that acheiving the JV will make the mkt take RMI more seriously, the Mkt Cap at 8c is like $35m, and per my Calcs a 10% Interest in Wowo would be worth at least $500m so the upside is huge, if you don't like the leverage to rewards thats fine, but hey I do and given Wowo is not costing me anything when I buy well then it makes it all the sweeter,

I also found a report done by Warrick Grigor of Fare East Capital on Cobar Resources in 2002 when they owned Wowo Gap

http://www.fareastcapital.com.au/imagesDB\research\CobraFECNovVersion2.pdf
*
Makes for an interesting read, especially because the Ni Price used was $2.25 per lb*


----------



## YOUNG_TRADER (12 July 2007)

Hey Kiwik, re infrastructre, this is what the report said

_"Infrastructure Both Goro and Halmahera projects have similar locations and infrastructure configurations as Wowo Gap."_

I'm assuming this implies if they can get going no reason why Wowo can't,
It also makes it a point to to assert

_"Resource needs to be expanded to qualify
as a major project: *Wowo Gap needs to be more like 100 mt in size and 1.3% Ni to appear attractive.* Anything in excess of this, where the ratio of saprolitic ore to limonite remains at approximately 1:2, will add to the likelihood of development."_

Now because this was based on a Ni spot price of $2.25/lb vs Current $15/lb maybe this 100Mt threshold can drop, but to be safe I'd think minimum 60Mt's would be needed as a Measured JORC to get thins going, especially since operating and Cap Ex costs have blown out!

Also the report does another very interesting comparison of Nickel Laterite deposits


----------



## KIWIKARLOS (12 July 2007)

So the 300MT is an inferred resource which needs drilling and assays to "prove" and they already have got about 60MT "proven" ? 
I assume that this is their priority at the moment, i haven't had a achance to read the latest activities report yet are they currently in the process of drilling?

I wouldn't anticipate Nickle prices staying so high but even at $10 per lb its still 4 times the value when these previous calcs were done. The Chinese have certainly been flexing their muscles in the south pacific eg. PNG fiji etc too. They have alot of cash to buy up strategic resources and you need nickle to make steel


----------



## prawn_86 (12 July 2007)

KIWIKARLOS said:


> I assume that this is their priority at the moment, i haven't had a achance to read the latest activities report yet are they currently in the process of drilling?




check a few pages back in this thread i posted a response from the MD as to what their activities are at the moment


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## moses (12 July 2007)

this is for YT. I doubt if tonight's SMA chart provides a useful indicator for tomorrow, but here it is as requested. Perhaps it suggests some time out for consolidation, but the signal is pretty weak at best.


----------



## Sean K (13 July 2007)

Long term chart looks very good. Huge rounded bottom that in all probabilities _should _continue up the other side. Currently short term trending up nicely, with stages of consolidation. This could now consolidate as has been mentioned by others, perhaps within the green circle, and even hit the previous resistance, now support, to the downside which is around 6.4c, but you could expect the upward trend line to be respected, so perhaps 7 cents to the downside more likely. Indicators here look very promising. Historical longer term resistance has been hit, so adds to potential for further consolidation instead of going parabolic in the short term, but I wouldn't discount the YT factor.  

(holding)


----------



## YOUNG_TRADER (13 July 2007)

Hey Kennarico!

I was confused by your chart at first, but then realised that it was a weekly and not daily,

I don't know if this will fall below 7c let alone 8c over the next month, 

I looked at how CUL traded, once it launched from its base of 5c and once it borke 6.4c that acted as support,

Well for RMI the base I see is 6c and it broke out at 7.7c/8c so now I see that as support I doubt that it will drop below 7.7c/8c over the next few weeks,

In fact I expect it to consolidate between 8c and 9.5c pre Wowo assays before it makes it push out above 10c,

Thats my call


----------



## mobcat (13 July 2007)

Yeah fair call YT.......... i do like the sell side this is right ATM at 2pm the 2mil on offer at 9 and 9.1 is a nice bait for a player to get on board if it gets taken out in one hit i think we could be in for a nice Friday close if i wasn't already up to my lips and swimming in a sea of RMI ATM i would diffidently take it out help out the team so to speak and finish the week on a peak had another nice top up this morning but that's it for me till 12cent now this is a very nice package IMO and very comfortable being on board


----------



## spottygoose (13 July 2007)

RDS cap raising:


Details of the Offer
4.1 Purpose of the Offer

The funds raised by the Offer of up to $6,000,000 will be used for the following purposes:

(a) Australia – West Musgrave Projects
i) To fast track further exploration and complete follow-up deep RC and diamond
drilling on the Blackstone Range project as a result of exceptional exploration and
preliminary shallow drilling results. See section 6.2(a) of this Prospectus for more
details of the results from Halleys.
The anomalously large thickness of copper-PGE bearing sulphides intersected by the
drilling is very promising. This indicates a regionally extensive sulphide system that
is very likely to contain economic metal concentrations, particularly more nickel-rich
concentrations along the same mineralized zone to the north-west. To follow this up
will require an extensive and deeper drilling program along the mineralized trend.

etc etc, please note this is only part of the document....


----------



## camaybay (13 July 2007)

Its good that RMI have 25% interest in Redback Blackstone Range/Michael Hills JV. The Redback PSO is 2500min@$1.20 closed to-day(EOD $1.40) nominating further investigation drilling at Halleys as priority.
*Extract from to-day's RMI ann*.
The results confirm the previous geological model that massive volumes of sulphide are present
in the Saturn Complex and that the district is highly prospective for world-class Ni-Cu-PGE and
PGE deposits. The Cu-PGE mineralisation so far drilled is likely to be only a small part of a
much larger system nearby.
Extensive deeper drilling is planned for the remainder of this year to follow up the thick
intercepts of mineralisation, in order to test the down-dip and down-plunge position at Halleys
and the Saturn Complex margin to the northwest for Cu-PGE and Ni mineralisation

Only reading the news.
DYOR


----------



## Sean K (14 July 2007)

kennas said:


> This could now consolidate as has been mentioned by others, perhaps within the green circle, and even hit the previous resistance, now support, to the downside which is around 6.4c, but you could expect the upward trend line to be respected, so perhaps 7 cents to the downside more likely.



 The short term chart looks a little different than the 3 year weekly posted earlier. Consolidation has started between 8 and 9 and if we get another inside candle, or close to it, Monday then it's a pretty good set up for a flag pole and pennant and another spike. (ideal world) Note volume down while consolidating indicating accumulation. Any disagreements, thoughts?

I still generally stick with the longer term picture described previously however.

(holding)


----------



## KIWIKARLOS (16 July 2007)

What the hell is going on here today 10c is seriously broken ! and no news or anything? Any ideas why the sudden flurry of buying activity


----------



## YOUNG_TRADER (16 July 2007)

KIWIKARLOS said:


> What the hell is going on here today 10c is seriously broken ! and no news or anything? Any ideas why the sudden flurry of buying activity




What I thought would happen, although its happening alot early than I thought, I actually thought this would consolidate a bit more before making this push but it seems not,

I'm not complaining 




YOUNG_TRADER said:


> Hey Kennarico!
> 
> I was confused by your chart at first, but then realised that it was a weekly and not daily,
> 
> ...


----------



## KIWIKARLOS (16 July 2007)

hahaha right again my friend you certainly have your research well thought out. Hopefully we will get the assays soon, i think we will get a very high spike after ann before a small pull back then continued growth after that. I learnt my lesson with YML and MPO so im not exiting to soon.

I bought MPO at 4 c sold at 3.8 then the next week 12c !

Bought back in at 13 sold 12.5 a month later 30c !:

the good thing is once past the 10 c mark each increment is huge when bought pre 10c.

PS thanks for the research to mate, Im not up on different analysis techniques but i've never trusted charting as a tool for trading.


----------



## alanding (16 July 2007)

Todays trades at 10.5c has 1,206,000 shares. Nice try
trades at 10c has 12878,000 shares. nice support


----------



## toc_bat (17 July 2007)

interesting, no one has really sold off screen or sold to a buyer, oh whats the terminology, for the last 30odd minute just a few buys in dribs and rabs, is 30 minutes too a long a period for day traders to stay out of? i mean woul dthe typical day trader start dumping by now?

bye all

edit ok someone just sold $500 worth after a half hour of no selling


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## YOUNG_TRADER (18 July 2007)

*OMG I have seen 3x 5M buy orders go through!*

Is anyone else watching?

What the hell is going on? 

Is this an Insto?

I have never seen such buying before not even on CUL!




YOUNG_TRADER said:


> Hey Kennarico!
> 
> I was confused by your chart at first, but then realised that it was a weekly and not daily,
> 
> ...


----------



## Craze0123 (18 July 2007)

check this out at about 11:08...never seen anything like this before. What the hell is going on....?


----------



## YOUNG_TRADER (18 July 2007)

No one else watching?

23M buying above 10c, 13m in one line at 12c!!!!!!!!!!!!!!!!!!!!!!!!

What the heck is going on,

Ok YT calm down, calm down, calm down, breathe breathe


----------



## SGB (18 July 2007)

YOUNG_TRADER said:


> *OMG I have seen 3x 5M buy orders go through!*
> 
> Is anyone else watching?
> 
> ...





Currently 13,000,000 support at 12 cent. Goin off the hammers at the moment. Interesting to see how far this will go today..

SGB


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## Snakey (18 July 2007)

Well today my sell price hit 12.5. Now free carrying remainder very happy with that. Should be 15c soon going by momentum. Surprise turn around today.


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## KIWIKARLOS (18 July 2007)

Giddy Up RMI!  Unbelievable the numbers above 10c now, could this really be on anticipation of news? the broader market as a whole is down surely day traders cant pump it up this much


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## Sean K (18 July 2007)

YOUNG_TRADER said:


> Ok YT calm down, calm down, calm down, breathe breathe



Relax YT! Relax! Nothing to see here. Everyone go back to their jobs and cool it. Next resistance around 13 cents, but wait for EOD to start buying Grange!


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## Craze0123 (18 July 2007)

Imo its either insider (which i don't it is in this case) pre-ann or some huge investor going for it "on market". Will be interesting to see if the orders get filled or canceled.


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## KIWIKARLOS (18 July 2007)

Well that was short lived that was like 14 mill smashed down in a few minutes surely thats a major holder! Massive volumes today will be interesting to see if 12.5 gets tested again, big boys playing games maybe


----------



## SGB (18 July 2007)

Craze0123 said:


> Imo its either insider (which i don't it is in this case) pre-ann or some huge investor going for it "on market". Will be interesting to see if the orders get filled or canceled.




Coarse of Sales
11:26:37 0.1100 1,500,000 165,000.00 XT

 11:26:25 0.1100 2,000,000 220,000.00 

11:26:25 0.1150 500,000 57,500.00


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## YOUNG_TRADER (18 July 2007)

KIWIKARLOS said:


> Well that was short lived that was like 14 mill smashed down in a few minutes surely thats a major holder! Massive volumes today will be interesting to see if 12.5 gets tested again, big boys playing games maybe




Wasn't sold into at all, was pulled, check chart by trades and you'll see,

The big buying was done today at 11c-12.5c so I have no idea what their game is,

I mean who accumulates like that?


----------



## juw177 (18 July 2007)

I think this was all done by one large player who had been holding for some time and wanted to sell at a higher price. So he bought out everything from 10-12c and created an illusion of 13m buyers in the depth so other buyers will line up and sellers are less likely to sell.

Then just before he dumped his stock, he pulled out his large buy orders.


----------



## mobcat (18 July 2007)

Just a board fat cat stuffing with your head imo silly but can be fun not my doing but can drop some goodies in your lap if the land slide follows i have been guilty of doing same but rareley works imo .............Besides all that stuff we are having a stellar day on RMI and FWL rmi is showing some beautiful leg with a taste of whats to come i belive true pre ann unadulterated spec of the most greed riden kind and the market eats this stuff up like dirt to a vacum cleaner LOL any way enjoy today because this is fun because i am swimming in a sea of both RMI and FWLO


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## Nevawake (18 July 2007)

I got out at the price I paid 10.5 this game was manipulated badly.

Terrible use of power by some traders.


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## Nevawake (18 July 2007)

In my own opinion i see it below 10cents again :-(

Its crazy.

I dont wish to take a loss even though however there is depth in 10cents.
I just dont wish to feel that pain.

Makes me angry. When a stock goes way up and then back to the levels it started. Its not a good investment.


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## Sean K (18 July 2007)

Nevawake said:


> I got out at the price I paid 10.5 this game was manipulated badly.
> 
> Terrible use of power by some traders.



Nev, there are investors, and traders, and you need to decide where you are and what works for you. There is no drama with people being short term traders, but ASF limits the possibility of 'pump and dump' with judicious moderating. (well, attempted anyway). It's never perfect but you're probably going to get a more well rounded opinion here, than elsewhere.  Good luck.


----------



## KIWIKARLOS (18 July 2007)

Mate sound like your trying to day trade or short term at least.

If you bought at 10.5 and it went to 12.5 why didn't you sell at 20% profit?
Could have set a backstop anyways so you would have made some cash

My opinion is this baby will spike hard after ann then consolidate a bit so im holding for a few weeks


----------



## YOUNG_TRADER (18 July 2007)

Nevawake said:


> Makes me angry. When a stock goes way up and then back to the levels it started. Its not a good investment.




_"Its not a good investment"_ 

Based on what analysis exactly?

I did fundamental research on RMI at 6c and bought up, however it ran the day I was buying so I had to pay up to 7.5c, today at 12.5c its almost 100% gain in less than 2 weeks,

You have to understand that alot of people will be taking profits at these levels, 

Based on my fundamental analysis I still see alot more further upside,

Do yourself a favour and don't let short term swings influence you too much unless your a trader, but you said _"Its not a good *investment*"_ so in terms of an investment, let the swings come and go and eventually the fundamentals will shine through!


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## alanding (18 July 2007)

Nevawake said:


> In my own opinion i see it below 10cents again :-(
> 
> Its crazy.
> 
> ...




It is a good stock. Thanks to YT fundamental analysis and Kennas chart.
But only if you choose a good entry point, you cannot make money in a short term. 
I think too many day traders are disturbing. 
Be patient, hold as a long term, you will make profit


----------



## tibby (19 July 2007)

RMI pre-open heating up, looks as though this one will open at .11 and take a fair whack out of the 2mil sitting at that price...nice support forming at .10, as there was yesterday...are we above .10 for good now??


----------



## alanding (19 July 2007)

what's going on RMI.
Just ten minutes ago there are hips of buys at 0.10c. They just disappeared in a second?
 any clue?


----------



## Nevawake (19 July 2007)

Dont worry about it fellows i should have bailed at 12cents your right. I forgot to take my antidepressants for 4 days and i should not have traded without them!!!!!! Never let a depressed person invest your money!!!!

I didnt make a decision when it was nessesary. Must remember not to forget to treat depression. Sorry all fior the rambling. I feel more alert today.


----------



## toc_bat (19 July 2007)

alanding said:


> what's going on RMI.
> Just ten minutes ago there are hips of buys at 0.10c. They just disappeared in a second?
> any clue?



Alan 

I dont know much, but I would guess that despite the fundamentals the recent daily/short term highs were reached due to day trading, when that happens as soon as the day trading heat or energy is over they sell out and down it comes to a more realistic value, then its time for the more longer term people to come in, so if the fundamentals are good it ought to appreciate, or obviously depreciate if its the other case


----------



## Sean K (19 July 2007)

May I just add another perspective to keep in mind. 10 cents is normall quite a significant barrier IMO due to the change in trading increment from .01 c to .05 cents. There is a big psychological gap between trading these jumps, and it usually (from what I have seen) results in some significant resistance. Stocks to break through this barrier confidently normally need some good news to give them a kick along. 

Any other thoughts there? I haven't read this in a book anwhere, just a perception.


----------



## Pommiegranite (19 July 2007)

kennas said:


> May I just add another perspective to keep in mind. 10 cents is normall quite a significant barrier IMO due to the change in trading increment from .01 c to .05 cents. There is a big psychological gap between trading these jumps, and it usually (from what I have seen) results in some significant resistance. Stocks to break through this barrier confidently normally need some good news to give them a kick along.
> 
> Any other thoughts there? I haven't read this in a book anwhere, just a perception.




Once again, spot on Kennas. 

CXY and CUL can be viewed as two examples which are fighting this battle


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## alanding (19 July 2007)

kennas said:


> May I just add another perspective to keep in mind. 10 cents is normall quite a significant barrier IMO due to the change in trading increment from .01 c to .05 cents. There is a big psychological gap between trading these jumps, and it usually (from what I have seen) results in some significant resistance. Stocks to break through this barrier confidently normally need some good news to give them a kick along.
> 
> Any other thoughts there? I haven't read this in a book anwhere, just a perception.




It does make sense to me.  That's also the reason I put my entry point at 10C. 
And obviously, I got it



toc_bat said:


> Alan
> 
> I dont know much, but I would guess that despite the fundamentals the recent daily/short term highs were reached due to day trading, when that happens as soon as the day trading heat or energy is over they sell out and down it comes to a more realistic value, then its time for the more longer term people to come in, so if the fundamentals are good it ought to appreciate, or obviously depreciate if its the other case




Lots of people are talking about day-trader. They are really annoying. But i have to get used to them. This is the real world.

Thanks guys.


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## alanding (19 July 2007)

76 - 108	11:23:03 am	10	3,990,475	1	$399,048	33
75	11:17:22 am	11	1,000	0.5	$110	1
71 - 74	11:17:22 am	10.5	136,786	0.5	$14,363	4
70	11:15:24 am	10	25,000	0.5	$2,500	1
64 - 69	11:12:31 am	10.5	305,714	0.5	$32,100	6
63	10:55:24 am	11	15,343	0.5	$1,688	1
56 - 62	10:55:24 am	10.5	376,962	0.5	$39,581	7
54 - 55	10:51:46 am	10	69,462	0.5	$6,946	2
46 - 53	10:48:46 am	10.5	318,100	0.5	$33,401	8
45	10:43:32 am	11	25,000	0.5	$2,750	1
43 - 44	10:41:36 am	10.5	133,950	0.5	$14,065	2
41 - 42	10:27:38 am	11	61,000	0.5	$6,710	2
38 - 40	10:20:22 am	10.5	150,000	0.5	$15,750	3
37	10:19:29 am	10	22,562	0.5	$2,256	1
13 - 36	10:18:42 am	10.5	1,697,438	0.5	$178,231	24
1 - 12	10:06:42 am	1

That's why they were disappeared.


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## Joules MM1 (20 July 2007)

kennas said:


> May I just add another perspective to keep in mind. 10 cents is normall quite a significant barrier IMO due to the change in trading increment from .01 c to .05 cents. There is a big psychological gap between trading these jumps, and it usually (from what I have seen) results in some significant resistance. Stocks to break through this barrier confidently normally need some good news to give them a kick along.
> 
> Any other thoughts there? I haven't read this in a book anwhere, just a perception.





I closed half my holding in rmi especially because of the fraction "edge" that same-day traders trade on ......that .005 fraction is a huge draw-card and in terms of percentage is significantly reduced once the .10 is passed..............
.........but here's the thing about daytraders; they bring much liquidity to the table and because they provide intra gaps, with larger swings, that also provide opportunities for longer holers...........by that I mean the day traders can provide better entry and often then provide a secondary opportunity to exit (either in the case of an incorrect live (long) position or to achieve a lesser anticipated exit (close the long position)). 

not that the fraction will cause the bulk of day-traders to exit because most of them will want to tap the momentum.........more liquidity the better.

In many cases when a daytrader has to cover short-sell positions they provide the energy to drive the instrument higher because theyer at the mercy of the price that's set by the demand and they become part of that demand........basically, how you view the (dis)advantage of that knowledge is the key.

I am not aware that rmi is elligible for short-sale through any desk and while day-traders buy the stock and then re-release, back onto the open auction, they are not really dumping........think of it like churnig price which provides opportunity........each person who buys the stock is responsible for the price they, themselves, accept, so they need to encompasses other traders activities into that ..........there is no such thing as a good price or bad price only the price that provides the highest percentage gain with the safest level 

in essence more traders of all levels = more upward pressure above the crucial levels and this means higher sentiment, stronger attraction.......afterall if day-traders help the instrument to push above crucial resistances into new territory (higher) then that's a good thing 

At the end of the day a market is never static and the game may seem to change but small traders remain as they have always been.

Once the true design of boutique teams and large cap players is exposed and sentiment builds and a good structure is established and healthy chain of volume (= liquidity) is runnning by all levels, then, the stuff like the .005 mechanism becomes miniscule.........guess you could call that a trend 

an opinion

Joules


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## YOUNG_TRADER (21 July 2007)

All in all RMI seems to have consolidated its run,

and like CUL which moved off a base of 5c to 10c resistance and now is above it (I hope/think)

RMI's base was 6c, the other day it made a dash for the 100% gain level of 12c but turned out to be a pump and dump, eventually we should see it move up above 12c

Wowo drilling results are dues soon so I'm guessing that inside news leaking will be the catalyst, 

In a mkt short on Nickel this company is sitting on a deposit worth Billions


----------



## weston (22 July 2007)

juw177 said:


> I think this was all done by one large player who had been holding for some time and wanted to sell at a higher price. So he bought out everything from 10-12c and created an illusion of 13m buyers in the depth so other buyers will line up and sellers are less likely to sell.
> 
> Then just before he dumped his stock, he pulled out his large buy orders.




This is commonwealth bank they bought around 0.06$, and traded more than 200mil, net sell 60mil, they still have 40mil in hands, my broker checked.


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## alanding (23 July 2007)

weston said:


> This is commonwealth bank they bought around 0.06$, and traded more than 200mil, net sell 60mil, they still have 40mil in hands, my broker checked.





200M= 40M+60M?
I am confused. Can you explain it to me?


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## Kalmsg (23 July 2007)

A female i know that writes investment books for woman and gives them financial advice as well has taken up a stake in this company as well. Spoke to her on wednesday last week and she stated the same to me via email.

stef


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## prawn_86 (23 July 2007)

well i've just got back from a 10 day holiday and am pleasantly surprised to see how well RMI has done without any news. always a nice thing to come home to 

hopefully the next ann will kick it up above the 10c barrier


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## Pommiegranite (23 July 2007)

stefano100 said:


> A female i know that writes investment books for woman and gives them financial advice as well has taken up a stake in this company as well. Spoke to her on wednesday last week and she stated the same to me via email.
> 
> stef





What a cryptic post!!!

What's with the 'female' bit? 

Is there some underlying meaning here?


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## resourcesman (23 July 2007)

I think he wants us to play a guessing game, and when we get the right answer we get a reward. I'll be first: Jan Somers!!


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## Kalmsg (23 July 2007)

Its Cydney O'sullivan if that helps anyone. The reason i did not mention her name is that this is my second post on this website and the first was deleted i did not wish to get deleted or vetted again sorry all.


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## weston (23 July 2007)

alanding said:


> 200M= 40M+60M?
> I am confused. Can you explain it to me?




They sold and bought, total amout traded over 200mil in last two weeks, but net sales was 60mil,40mil in hands. I think they got lots two or three months ago.


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## SevenFX (23 July 2007)

stefano100 said:


> Its Cydney O'sullivan if that helps anyone. The reason i did not mention her name is that this is my second post on this website and the first was deleted i did not wish to get deleted or vetted again sorry all.




Hey There Stefano.

Welcome to ASF and look forward to being able to help where I can , though I'm fairly new round here 2.

There are many others at ASF that are really helpful and will see you are new here.

Some of the rules have tightened up around here, to reduce unscrupulous people intentionally ramping stocks for their benifit, and new members buying them only to find them fall.

Anyway hope your soaking up all the great posts, and may find the advanced search useful as well.
https://www.aussiestockforums.com/forums/search.php

Cheers
SevenFX


----------



## juw177 (24 July 2007)

Big moneys has just appeared on the buy side. Didnt think it will be so soon as the buyers still have not filled the gap since the last pump and dump. Hope this is not another manipulation. Anyone have info on who might be moving the stock?


----------



## whitta27 (24 July 2007)

.. as someone in the previous posts pointed out.. it appears commonwealth were trading/manipulating the stock..

its possible money profits from ady are also pouring into this stock..
both companies have massive resources for low sp..

i don't see a gap in the charts from the last pump and dump either juw if thats the type of gap your talking about..

cheers whitta


----------



## juw177 (24 July 2007)

Yes Whit, I am aware it may have been Commonwealth bank last time around. And no I was not talking about a gap in a chart sense, I was talking a gap from buying pressure that is lost when a dump of 20million happens.


----------



## YOUNG_TRADER (24 July 2007)

Guys when it says Commonwealth bank that means CommSec accounts, not actual CBA,

Just like NAB = NAB Online Acc's

ANZ = Etrade

And so on

There is no way in hell the CBA did a pump and dump no way,

It was traders playing games, but it doesn't matter,

Look out how CUL has performed despite all the pumps/dumps/trades/swings etc etc

It took off from a base of 5c, hit the 100% level (10c) took a week or 2 to break it and is now firmly above it at 12c/12.5c

RMI took off from a base of 6c which means 100% level is 12c,

In any event Wowo results are due soon and this has the potential to do a JRV re-rating imo


----------



## YOUNG_TRADER (24 July 2007)

Looks to be getting ready to run,

CUL look alike in terms of trading IMO

Looks like accumulation to me, lots of 1m buys, but then lots of 1m sells too

Maybe 10c is confirmed support now?

Techies whats the chart say?


----------



## YOUNG_TRADER (24 July 2007)

Guys, my fundamentals for RMI got buried so I am reposting them,

Just like CUL, RMI should get towards my intial target of 15c

Techies that was a strong close, what do you see on the chart


*RMI*​
*
Mkt Structure*
*
Shares*
430m
Mkt Cap @ 7c = $30m Current
Mkt Cap @ 15c = $65m Target 1
Mkt Cap @ 20c = $86m Target 2
*
TOP 20 = 52%
Substantial Shareholders
Sinom (Hong Kon Stell/Iron ore Insto Group) 13.4%
ANZ 8.4%
Mount Gibson Iron MGX 7.4%*

*
Cash*
*$2m* not alot so will obviously need more down the track

*
Projects*


*
Wowo Gap  * _Nickel, 100%, PNG_
*120mT@1.2%Ni + 0.1%Co = 1.7%Ni Equiv*

Note that my research on Wowo Gap has found that based on all the historical work, the PNG government is confident to quote a JORC of
*300Mt@1.6%Ni Equiv*

*Valuation
As its a laterite Project I'd say once the JORC is firmed up a $1000/t  EV is appropriate (Note Spot $35k - $50k/t)

For now until we recieve assays and confirmation of the mineralisation I will use $100/t Ni EV

120Mt@1.7%Ni Equiv = 2Mt+ Ni @ $100 = $200m = 47c RMI*

Now the mian points are
1. Although the current JORC has a low confidence level, detailed research of PNG databases has revealed a JORC of 300Mt@1.6%Ni Equiv is being quoted, so there is plenty of upside to the jorc, this in turn has greatly increased my confidence in the project.

2. Given the huge technical and infrastructure costs, a JV with a major is a must! = Farming out/down of interest, but see HIG, they sold a majority stake in Ramu (145Mt@1.5%Ni Equiv) to the Chinese so a JV partner shouldn't be a problem

*
Blackstone/Michael Hills* _Ni/Cu/PGE/PGM, 25% Free Carried by RDS, Musgrave Province W.A._
The project is 30Km's away from WMC's Babel and Nebo Nickel Sulphide deposits,

While its early stages, Patersons are highly encouraged by the work so far and belive that RDS/RMI are onto something quite promising here

*Valuation
I like Patersons fully agree that the bulk of RDS's current mkt cap is attributable to these projects,
Hence a comparative valuation can be made

RDS 90m shares @ $1.40 = $26m for 75% Interest

Thus RMI's 25% Interst is worth $42m = 9-10c approx RMI*

*
Argyle* _Iron, 75%, W.A. near Wyndham_
*JORC 17Mt@55%Fe* 

Unfortuantely this deposit is somewhat stranded and RMI will need to show a clearer path to development before I will value it properly,

However apparantly their has been strong Chinese interest in a potential JV, once one appears I will re value this project

*Valuation
As stated, due to development uncertainty the project only deserves an EV of $2.50/t vs $5/t I was happy to use for CUL's

17Mt@55%Fe = 9.35Mt, 75% Interest = Net 7Mt's Fe
7Mt's Fe @ $2.50/t = $17.5m = 4c RMI

If a chinese JV or clearer path to development appears I will be happy to use $5/t = 8c RMI
*


*
Qld 3 Rivers* _Ni/Cu, 10% Free Carried by SRL, Greenvale Qld_
*SRL* should have drilled 3 deep holes to test for NI/Cu sulphides, not sure where this project is at


*
Summary*

*- WOWO could be a company making project, remember JRV's run? 400% in a month based on its huge laterite Nickel Project
- The RDS JV underwrites/implies an SP of 9c-10c
- The Argyle Iron Ore Project adds 4c in spec value (8c once I see JV etc)


Total Value I see pre Wowo Gap rerating = 23c 
After more confidence in Wowo = 40c+
*


----------



## SGB (24 July 2007)

YOUNG_TRADER said:


> Looks to be getting ready to run,
> 
> CUL look alike in terms of trading IMO
> 
> ...




Hello Y T

Looks as though we might be in a bit of a run 2morrow if RMI confirms 13 points.
Strong swing formation at about 45% which should test resistant levels @ 16points and 19 points.

Be cautious though if it does hit 19 points as RSI is getting a little overbought.  
As long as the fundals hold up i cant see any major long term chart distractions apart from the occassional profit taking.

Cheers
SGB


----------



## prawn_86 (25 July 2007)

well since i first posted on RMI it has more than doubled, and this seems to be confirmed now, rather than when it just touched 12c the other day.

i will be interested to see how the market reacts to the wowo announcement. ie - are these current prices factoring it in? although mine and YT's research suggests not.

im still holding my entire parcel and will reassess after the ann which should be by the end of next week at the latest.


----------



## YOUNG_TRADER (26 July 2007)

Nice work Prawn!

You may be interested to note (as I was) that someone has kindly alerted me to the fact that HIG (Highlands Pacific) are looking to sell their remaining 8% interest in Ramu,

This is very significant for RMI as its Wowo and HIG's Ramu are somewhat comparable deposits, thus in a very rough way, whatever price HIG recieves for its 8% interest, we can extrapolate it to RMI's 100% interest in Wowo to get a rough value.

For example, if HIG recieve $25m AUD for their remaining 8% in Ramu, that would value Ramu at $312.5m

Which assuming Ramu and Wowo are perfect comparables (which they are not) would value Wowo at $312.5m, discount by 50% to account for Ramu being superior to Wowo = $155m to Wowo = 35c RMI

These are just rough figures being tossed around to highlight the significance of the price HIG gets for its 8% stake in Ramu,

Watch HIG's anns closely as I believe a good sale price combined with good drill results from Wowo = Significant Re-rating, I don't even want to put a target as right now it would seem absurd

*
Wowo 120Mt's @1.2%Ni + 0.1%Co = 1.7%Ni Equiv

Ramu 143Mt's @1.01%Ni + 0.1%Co = 1.5%Ni Equiv *

It goes without saying that Ramu is far far far more advanced than Wowo and has the backing of a Chinese major  and as such production is much more realistic etc etc But its useful to compare


----------



## alanding (26 July 2007)

There are 550,000 new shares issued. 
Can a company do this?  
I think issue new shares will make the sp down, doesn't it?


----------



## Pommiegranite (26 July 2007)

Nickel got battered again (like most metals) last night.

Does anyone have an opinion as to what point this will start weighing heavily on Wowo?


----------



## prawn_86 (26 July 2007)

Pommiegranite said:


> Nickel got battered again (like most metals) last night.
> 
> Does anyone have an opinion as to what point this will start weighing heavily on Wowo?




nickel just cant seem to find its feet at the moment. im new to commoditie markets so not sure about supply and demand etc, but i think that with a resource the size of wowo, even at these prices it should create significant interest.

looking at a bit of a longer term view, i suppose it is better the resource upgrade coming out when nickel is lower, and the sp climbing as the nickel price does, once a base price has been established. rather than nickel being at lofty heights as it was earlier in the year and people getting scared and selling out of RMI as nickel fell.

i think this makes sense...does to me anyway


----------



## toc_bat (26 July 2007)

Personally I think stocks or companies at RMI level are still very far from production if at all, so are mostly speculative, therefore I think that day to day commidies prices have a much closer effect on producers. Since if RMI buyers re speculators, or investors looking at least a few years in advance, then perhaps they may even be speculating at what nickel will be in a few years time too.

bye all


----------



## YOUNG_TRADER (26 July 2007)

alanding said:


> There are 550,000 new shares issued.
> Can a company do this?
> I think issue new shares will make the sp down, doesn't it?




Firstly the company issued these shares as payment for "consultancy fee's"

Secondly re downward pressure, Are you serious?

I'm sure we can soak up the volume of 550k selling with pocket change lol

Volume today has already been 10m, 




toc_bat said:


> Personally I think stocks or companies at RMI level are still very far from production if at all, so are mostly speculative, therefore I think that day to day commidies prices have a much closer effect on producers. Since if RMI buyers re speculators, or investors looking at least a few years in advance, then perhaps they may even be speculating at what nickel will be in a few years time too.
> 
> bye all




I agree with Toc, as Wowo is speculative I really really doubt Nickel price swings will effect RMI share price shorterm, maybe if SP was pricing in Wowo, atm at 14c = 9c RDS + 4c Iron Ore = 13c Thus Wowo = 1c 

I think you get the point

If I were holding NIA shares then I'd be wary as the deposit is uneconomic at a Nickel price below $10 us lb

CUL has blown past my low point valuation, I expect RMI to do at least the same and I firmly believe its fundamentals are stronger given Wowo is a company making project and the shares are much more tightly held



Cheers


----------



## YOUNG_TRADER (26 July 2007)

As I said earlier,

Currently RMI's value comes from RDS JV 9c and its Iron Ore Project 4c, which means Wowo is getting 1c value at 14c

Now to compare Wowo with another deposit, 
*
JRV's Young Project*
The Young project area contains *167 million tonnes of nickel/cobalt laterite resource at a grade of 0.72% nickel and 0.07% cobalt. *

*
Compare

Young 167Mt's @0.07%Ni + 0.07%Co = 1.1%Ni Equiv

Wowo 120Mt's @1.2%Ni + 0.1%Co = 1.7%Ni Equiv

Ramu 143Mt's @1.01%Ni + 0.1%Co = 1.5%Ni Equiv *


JRV has 2Billion shares on issue and the Young project is really its only project, so Young gives JRV a value of $50m (2Billion @2.5c)

So if we gave RMI the same value = 10c to RMI

Which means you'd get 9c + 4c + 10c = 23c

*
I'm not saying buy, I'm not saying sell, I'm discussing fundamentals thats all*


----------



## Brinks (26 July 2007)

Hi youngtrader. I was just wondering if u or anyone else could give there prediction on where u think the price will go in the short term? After hitting 16c today it seemed to have problems with big sellers coming. What should the company be currently valued at? Thanks in advance!


----------



## cuttlefish (26 July 2007)

JRV's Young project is located in NSW, close to infrastructure, roads, ports, people etc.  

Wowo is in the middle in the middle of PNG wilderness with no ports, roads, infrastructure, people or anything nearby.

There are quite a few other Australian based laterite nickel deposits that are arguably also undervalued.

Article on the comparable PNG based Ramu project:

http://www.theage.com.au/news/busin...lues-traditions/2007/07/13/1183833776332.html


----------



## juw177 (26 July 2007)

Brinks said:


> Hi youngtrader. I was just wondering if u or anyone else could give there prediction on where u think the price will go in the short term? After hitting 16c today it seemed to have problems with big sellers coming. What should the company be currently valued at? Thanks in advance!





There was already a value posted. And if you really want short term trading, just follow the crowd and sell when the big sellers sell. Asking such questions doesn't help anybody.


----------



## Brinks (26 July 2007)

Sorry for the question. My point was there has been a large breakout so should we be expecting the stock to stay around these prices or is there more to come with this run?


----------



## Pommiegranite (26 July 2007)

cuttlefish said:


> JRV's Young project is located in NSW, close to infrastructure, roads, ports, people etc.
> 
> Wowo is in the middle in the middle of PNG wilderness with no ports, roads, infrastructure, people or anything nearby.
> 
> ...




Cuttlefish,

I have no doubts that there are other undervalued companies out there. 
Aren't they all?

It's all about working out which are the MOST undervalued by peer comparison.

Please feel free to provide examples of other Australian based laterite nickel companies which are AS UNDERVALUED as RMI.

Cheers


----------



## juw177 (26 July 2007)

Brinks said:


> Sorry for the question. My point was there has been a large breakout so should we be expecting the stock to stay around these prices or is there more to come with this run?




That is the same question you asked before. No need to ask it again because there is no answer.

Like every stock, after a breakout, people tend to take profit and if there are not enough buyers to soak up the profit takers, the price falls. If buyers over power the sellers, the price keeps running. Understand?

Which side was winning today? It's hard to tell but if you look at the high volume and that the price closed a fair bit lower than its intraday high, one can say the sellers were winning.


----------



## SGB (26 July 2007)

Brinks said:


> Sorry for the question. My point was there has been a large breakout so should we be expecting the stock to stay around these prices or is there more to come with *this run*?




Hello Brinks,

Don't be sorry. First of all nobody really knows whether there is a certainty that it will continue to run, its all based on probability and peoples emotions.
Plus everyone trades differently, everyone veiws things diferently, everyone hears things diferently and everyone feels things diferently. Its all based on your internal reference. Visual, Auditory and/or kinesetic.

I posted a chart the other day on what i veiwed as a probabilty and put pressure points in at 16c and 19c.

As you will notice *this run *has gone up 100 % of its range. To get to 19c *this run* it needs to climb 140% of range and also break the 16c resistant.

Can it be done? Only you will know this.

Cheers
SGB


----------



## sandlion (26 July 2007)

Hi SGB,

Your chart is very accurate, and I watched the last one with interest also, thanks for sharing.

I watched this pretty closely today and it ran strong early on to 15.0..scrambled up to 16.0 then spiked at 16.5 then took a smashing back down to it's close (I think 14.0, I kinda stopped watching it after it dropped under 16 a few times). No analysis, just an observation from one who should spend more time working and less time hitting refresh on his Portfolio page.. 

So given that it flopped over 16.0 briefly, is it possible that with the sell side thinning out a strong run would mop up the sell side up to say 19 or 20c (which as you say is the next resistance point and where a lot of the bigger sell parcels are lurking) or will there be more tree shaking to keep it in it's 14-15c range until the quarterly report...I would imagine that any positive confirmed news will boost this stock up to it's next plateau (sorry I am editing this bit...its a bit obvious that last sentence isn't it.. )


----------



## Agusta (26 July 2007)

You don't need a crystal ball for this one just follow how CUL performance RMI have similar trend, so 18c easy by end of tomarrow because friday end of month drinks . and if the comming result are good 23c-25c. looking good,


----------



## YOUNG_TRADER (26 July 2007)

cuttlefish said:


> JRV's Young project is located in NSW, close to infrastructure, roads, ports, people etc.
> 
> Wowo is in the middle in the middle of PNG wilderness with no ports, roads, infrastructure, people or anything nearby.
> 
> ...





Fair point Cuttlefish and the purpose of me using JRV as another example was to try and introduce another comparison,

And I showed that per my calculations, at 14c, Wowo is being given 1c or $5m value, which when compared to Young is 10% of what JRV is getting

Also you will not the grades are 50% higher at Wowo, surely this makes up for something?

I would be comfortable with say a 50% value to what JRV is getting so $25m or 5-6c roughly which added to the 13c (RDS JV + Iron Ore) gives 18c-19c value



*
Spot the odd deposit out


Young 167Mt's @0.07%Ni + 0.07%Co = 1.1%Ni Equiv
JRV gets $50m value

Wowo 120Mt's @1.2%Ni + 0.1%Co = 1.7%Ni Equiv
RMI is getting $5m in value

Ramu 143Mt's @1.01%Ni + 0.1%Co = 1.5%Ni Equiv 
Is getting probably $250m+ in value
*


----------



## SGB (26 July 2007)

sandlion said:


> Hi SGB,
> 
> Your chart is very accurate, and I watched the last one with interest also, thanks for sharing.
> 
> ...




Hello Sandlion,

Given there is no news, and i have to confess i'm not much of a fundy, (I rely on YT and chris, they haven't let me down yet ) There is a probability that RMI could go to 19c in the next couple of days but the RSI will be heavily overbought and then you could see a slight sell off. And remember 20c is also a psychological point as well.
Given 16c was sold off today dosent mean it won't reach 19c either as there was a good battle @ 15 - 15.5 and was only sold off late. Another good point was that there has not been too many green stocks in the last couple of days anyway.. which RMI has increased...good sign... volumns up.

The thing i do like about this stock AT THE MOMENT is it has not been over bought in the Major (monthly) chart. A good Bull speck stock can go upto and over 90RSI (just my own research and opinion) and then they tend to have a major consolidation period. As we have just witnessed in AOE and BMN. Then the stock needs good news to retrace back up again. What is happening to AOE ATM.
So as long as the fundimentals are strong, thats YT department,I veiw RMI to be sound until overbought in Major chart.

All comments are my own personal opinion only.

Cheers
SGB


----------



## zt3000 (28 July 2007)

In this time of volatility, (personally i think its the correction we had to have and people have finally found an excuse for one ... a poor one at that), we cant forget to look at the fundamentals of any stock ... 

what has fundamentally changed about the market? Yes, there is probably some risk aversion taking place but did the demand for commodities just suddenly stop over night? Did China just say to themselves ... "oh i think we've got enough raw materials ... ect" ... i dare say the answer is no ... the world isn't getting smaller, the poor will become the middle class and want their own homes, cars ect and infrastructure is required with this .. hence a demand for raw materials ...

yes there may be a time for a time out, but i think this is only temporary and with relation to RMI ... wowo gap results are still due within weeks and as YT has so eloquently completed a fundamental analysis, this could be an interesting time coming up.

So when it comes to the crunch each man to himself and as we all know we all have different trading strategies ... good luck to all holders

DYOR


----------



## prawn_86 (30 July 2007)

hi all,

my sources tell me that the quaterly report will be out tomorrow which should provide a good indication of where things are at.

the drill results are experiencing some delays but should be out by mid august hopefully.

maybe a good time to top up beefore the quaterly? DYOR


----------



## YOUNG_TRADER (30 July 2007)

prawn_86 said:


> hi all,
> 
> my sources tell me that the quaterly report will be out tomorrow which should provide a good indication of where things are at.
> 
> ...




I actually took some profits today (finally) I hadn't taken any profits yet and I felt my position was just far too large to be holding in a correction,
 that as well as the fact that there's alot of traders on RMI who will swing it whichever way they please

Funny thing is it'll probably march higher now that I've taken some off the table, CUL did  lol

Be interesting to see what the qtrly says


----------



## SGB (30 July 2007)

" the fact that there's alot of traders on RMI who will swing it whichever way they please"


Be interesting to see what the qtrly says[/QUOTE]

Watch for the swing back up if qtrlys are OK LOL.


----------



## juw177 (30 July 2007)

Havent sold out because fundamentals have not changed.

Does anyone know if there will be any info regarding Wowo coming out soon? That ought to bring about a quick recovery.


----------



## prawn_86 (30 July 2007)

juw177 said:


> Does anyone know if there will be any info regarding Wowo coming out soon? That ought to bring about a quick recovery.




there should be some wowo info in the quaterly which is out tomorrow. but the actual wowo drill results should be out mid august at the latest hopefully


----------



## Busylion (30 July 2007)

My guess  the delay could be up to 8 weeks due to recent PNG election (helicopter & transport used by the politicians) and bad weather and one month delay of drilling (refer to 25 May announcement). 

The sentiment has also changed  (the total buying depth is less than the total selling depth at 4.30pm EST. in the past week  is about 2 to 1 favoring the buying). The short term traders may have taken some profits in the short term. However, in the medium term, with increase resources, IMHO, the SP should improve barring a Dow Crash.  The change of sentiment could be due to many factors (eg overseas market/DOW correction, expectation of the resource update delay, traders moving to other stocks, etc).

Good luck for holders

Cheers,
BL


----------



## juw177 (31 July 2007)

It looks like the demand is not showing, and my optimistic guess is that it is waiting for the sellers to exhaust before acting.


----------



## the_jackal (31 July 2007)

Have to agree with you there juw177... hang in there though only time will tell that this is a quality stock! Any idea when the quarterly is due out?? thought it was 2day, but its getting a bit late.


----------



## Vicked (31 July 2007)

The quarterly is out.

Doesn't make for fantastic reading, especially regarding the delays on the wowo project.


----------



## Pommiegranite (31 July 2007)

Vicked said:


> The quarterly is out.
> 
> Doesn't make for fantastic reading, especially regarding the delays on the wowo project.




Dude, I disagree


*Delays: *Old news... delays have come and gone...SP acted accordingly. Please remember that this is a quarterley report and not new information.
*General industry interest growing in Wowo & discussions: *Fantastic news for investors


----------



## prawn_86 (31 July 2007)

while i agree with you PG, i think that there will be some traders who take the negative view and may exit tomorrow due to the delays etc etc as they may realise there is not as quick a buck to be had as they originally thought.

Im still holding all my original position from .058.


----------



## YOUNG_TRADER (1 August 2007)

Hey guys,

Yeah we all knew or suspected that Wowo was being delayed, but as has been pointed out its good news to hear that Wowo is gaining attention, shame the company didn't give a firmer indication of whom,

One thing that did worry me is that the company had $1m cash left and expects to spend $800k this Qtr which means with a 100% certainty there is some form of Capital raising coming, my guess is a placement and SPP to shareholders, probably at 20% disc so say 10c ish, just a guess


Cheers


----------



## prawn_86 (1 August 2007)

seems a few traders are exiting today, as predicted. 

Would be a good time to top up for those interested with a bit of spare cash laying around.


----------



## ALFguy (1 August 2007)

Don't forget you'll also get a load of day traders entering today.

Expect it'll bob around 10-10.5c mark for a while.

Picked some up at 10c this morning


----------



## wllmtrish (1 August 2007)

I also picked some more up at 10c. When news comes out it will move very quickly from this low. The whole market is jittery because of the Yankie market.


----------



## golfmos123 (1 August 2007)

I'm not unhappy about the SP falling.  Have topped up at 10-10.5 also.  New news should leave the 10s and 11s behind.  Waiting, waiting, waiting....


----------



## ALFguy (1 August 2007)

Talk about panic selling :

Wish I had the funds to grab these mid 9's

Can't believe people are being so daft. Anyone would think we're in a crash


----------



## zt3000 (1 August 2007)

its looking cheaper and cheaper by the second 

i still wont get in .. not just yet ... the markets in general have concerned me ...

at least its washing out all the speculators and "dumb money" out ... 

gotta love being hedged with put options  is nice ... i like


----------



## aaronphetamine (1 August 2007)

I tihnk this is a great time to buy in. For some one like me who missed the boat, im glad i didnt buy in when it was in the teens, and even this mornig when it was at 10c.

The same thing has happened with all of the cheapo miners.. all down 2 anf 3 cents.... when the market does re bound, the people who brought in at cheapness will be alughing.

Im still too scared to buy in though.. if it could drop that much today, what about tomorrow !!


----------



## Pommiegranite (1 August 2007)

aaronphetamine said:


> I tihnk this is a great time to buy in. For some one like me who missed the boat, im glad i didnt buy in when it was in the teens, and even this mornig when it was at 10c.
> 
> The same thing has happened with all of the cheapo miners.. all down 2 anf 3 cents.... when the market does re bound, the people who brought in at cheapness will be alughing.
> 
> Im still too scared to buy in though.. if it could drop that much today, what about tomorrow !!




Could be famous last word..but it seems to have settled down at around the 9.3cent mark.

We'll see.


----------



## Sean K (1 August 2007)

zt3000 said:


> at least its washing out all the speculators and "dumb money" out ...
> 
> gotta love being hedged with put options  is nice ... i like



zt3000, You can do put options on RMI? You must mean something else.....maybe..?? Maybe you mean shorting the index?


----------



## zt3000 (1 August 2007)

kennas said:


> zt3000, You can do put options on RMI? You must mean something else.....maybe..?? Maybe you mean shorting the index?




yeah sorry kennas .. haha no puts on rmi  other stocks ... to hedge the overall portfolio 

i'll be clearer next time 

man index down to 6007! ... will it go below 6000 who knows ...

alot of these small cap speccies like RMI are taking a hammering


----------



## nomore4s (1 August 2007)

zt3000 said:


> yeah sorry kennas .. haha no puts on rmi  other stocks ... to hedge the overall portfolio
> 
> i'll be clearer next time
> 
> ...




Yeah, they sure are zt3000. This is one of the problems with the spec end of the market, they can be the fastest to rise but are also the fastest to fall when the market has a correction. 
I sold out of RMI on Monday, it can be very risky to hold these spec plays in the current environment. Can give up your gains very quickly.

I think some of these spec type plays could take a while to bounce back as well, I know alot of people that are trading these stocks have only done so during a very strong bull market, could find they don't move anywhere near as much or as fast during a true sideways or slightly bearish market.

Maybe the days of these stocks flying up on little or no news are over for awhile? Might need a truly good ann to get them moving?

Good luck to all.


----------



## countryboy (1 August 2007)

Jumped on board at 9c. Thanks to whoever sold at that level....well done to who bought at 8.9c! thanks to all the posters who bit by bit explore the many possibilities that a SP could move in. Made my job easier today!:


----------



## zt3000 (2 August 2007)

good to see a recovery ... a lot of selling depth .. prob due to those wanting to get out who bought at higer levels ...

market seems healthier today ... probably needed that

lets hope we see more gains today 

lets not forget fundamentals .. and fundamentals look strong on this baby


----------



## rico01 (2 August 2007)

A buyer just appeared for 2 million shares @10c and has half his order filled
 hopefully we've found the bottom


----------



## zt3000 (2 August 2007)

3.4million at 10c ... looks like someones trying to cap this ... not much interest last couple hours .. see how it goes when everyone gets back from lunch


----------



## powerkoala (3 August 2007)

anyone knows why this SP got smashed today?
is it coz nickel price down or other ?
seems that sellers try to sell at any price at the moment


----------



## YOUNG_TRADER (3 August 2007)

powerkoala said:


> anyone knows why this SP got smashed today?
> is it coz nickel price down or other ?
> seems that sellers try to sell at any price at the moment




I'd say its a combination of traders jumping ship, mkts getting smashed, nickel price getting smashed, Wowo drill results are delayed and last but by no means least the fact that company is in desperate needs of funds ie placement ($1m in bank and they are going to spend $800k this qtr, leaves $200k )


It will beinteresting to see if the support at 8c holds


----------



## powerkoala (3 August 2007)

YOUNG_TRADER said:


> I'd say its a combination of traders jumping ship, mkts getting smashed, nickel price getting smashed, Wowo drill results are delayed and last but by no means least the fact that company is in desperate needs of funds ie placement ($1m in bank and they are going to spend $800k this qtr, leaves $200k )
> 
> 
> It will beinteresting to see if the support at 8c holds




Thanks YT, 
I would like to see as well whether 8c support hold.
Thinking to top up. Still nervous with the market reaction at the moment though.


----------



## prawn_86 (3 August 2007)

i am happy holding mine still.

i am waiting for the wowo results, even if they have been delayed.

the biggest worry IMO is the placement that will have to occur, as this could take the wind out of the sails if it happens after the wowo ann. Although perhaps they will get a partner on board as they have been having a large amount of interest.

i will re-evaluate after the wowo results.


----------



## powerkoala (3 August 2007)

did someone just sell 3M shares ??
all support 8c and 8.1c wipe out in one transaction.
this is not looking good at the moment..


----------



## cuttlefish (3 August 2007)

Could be because their WOWO project is a laterite project in the back blocks wilderness of PNG that is going to require massive capex to develop - so the economics of the project would be pretty Ni price sensitive. 

They're also a lot of drill results away from actually confirming the resource levels being speculated on or securing funding and even further from having a developed mine (at least 4 years min away I would have thought but probably far longer). 

Laterite is difficult and expensive to process so it also becomes less attractive as Ni prices fall.  

The comparable Ramu project is being developed by a chinese govt owned company as far as I understand it, and is costing over 1 billion in Capex. This is only speculation, but its possible that it has a strategic value for the chinese govt that means they're not as concerned about the commercial aspects.

Wowo is a very high risk prospect as far as I can see (which will be no surprise to anyone thats read my other comments in this thread).  Not too sure about management either in terms of ability or experience.  

(e.g. seems to be taking them a long time to get a bit of drilling done, but that will happen when you have to fly your equipment in by helicopter because the nearest road is hundreds of km's away).


----------



## Joules MM1 (3 August 2007)

Joules MM1 said:


> I closed half my holding in rmi especially
> Joules




50% rebought.........
oversold into nearest support, maybe.........

 repurchased at .08................


----------



## juw177 (3 August 2007)

powerkoala said:


> anyone knows why this SP got smashed today?




Because there were more sellers selling and not enough buyers buying. This is because those people think the price of the stock will be going down.


----------



## ALFguy (3 August 2007)

They mentioned discussions with investment groups so that may be a solution to their funding problem.

A lot of crazy selling today, even when there was little in the sell stack.

Combination of a Friday and the current market me thinks.

I sold at 10c (the same price I bought a few days earlier), but am back in mid 8's. Would think it'll hold around here.

Delays with Wowo but gpr results in a few weeks. Just need a little patience now....and no bad news from the states!


----------



## YOUNG_TRADER (4 August 2007)

cuttlefish said:


> Could be because their WOWO project is a laterite project in the back blocks wilderness of PNG that is going to require massive capex to develop - so the economics of the project would be pretty Ni price sensitive.
> 
> They're also a lot of drill results away from actually confirming the resource levels being speculated on or securing funding and even further from having a developed mine (at least 4 years min away I would have thought but probably far longer).
> 
> ...




Once again Cuttlefish I have to disagree with your post,

Yes Wowo will cost probably $1B in Cap Ex, but its NPV wil still be 2-3x that using a LT Ni price of even $10lb

I can't believe you acknowledge the Chinese developing Ramu and then criticise Wowo, the Chinese developing Ramu shows if nothing else that "laterite project in the back blocks wilderness of PNG that is going to require massive capex to develop" will still get the go ahead by them! 

Even if RMI sold 95% of Wowo and maintained a 5% free carried interest it would be worth $50m+ to RMI so keep that in mind,

Right now Wowo is 100% owned by RMI, as I have said THERE IS NO WAY that RMI can develop it without a very very cashed up JV, 

Also re JORC its based on historical drilling, alot like MGO's Yandeera, or MTN's Mt Gee and as I have said over and over and over again, when a JORC is firmed up for minerals ie metal etc it doesn't change, ie the ore doesn't get up and walk away, it'll still be there in 50yrs so long as its not at surface as then it may get weathered away.

Point is PNG have an official quote of 300Mt's+ Twice the current JORC

So the fundamentals are still there for RMI, but as I said on Monday the required placement will have a negative effect as will traders and general mkt etc etc


----------



## the_jackal (6 August 2007)

When will this pain end down 13% to 7.1c..............
How can people be selling at these levels


----------



## jama_kj (6 August 2007)

tell me about it 
had put in an order at 7c on friday not expecting it to be filled but now its gone through and im not sure i want it now....what's ASX's refund/exchange policy


----------



## toc_bat (6 August 2007)

indeed rmi is plumbing some real depths here, 

im on a big % loss(down 40%), but not so big $ loss and up until a few weeks agos i would be loosing sleep, but my father has a different perspective and i think its rubbed off on me a bit, most of his trades last a few years, so to him (i alerted him to this - and he got some at 8.9c) this time frame is not of much concern, in fact he want to buy more, funny tho i am not thinking of buying more, i guess i like to see them go up first - then usually am too slow to react and buy in at a high, maybe using this panicked market to get some more is not such a bad idea,


----------



## prawn_86 (6 August 2007)

i a just waiting to see what happens with the overall market before i buy more. 

I think we could be in for a rough week or een month so there may be an opportunity to buy under 7c.

i will certainly try to get some more before the drilling announcements though. but that is still a month away.


----------



## cuttlefish (6 August 2007)

YOUNG_TRADER said:


> Once again Cuttlefish I have to disagree with your post,
> 
> Yes Wowo will cost probably $1B in Cap Ex, but its NPV wil still be 2-3x that using a LT Ni price of even $10lb
> 
> ...





YT - I understand what you are saying about the market cap vs potential size and economics of the project and can see the compelling 'on paper' attractiveness of the figures. I still believe the observations made in my previous posts about the political, environmental, geographical and Ni price risks, as well as the time frame and capital requirements are valid and make this project a long shot. Because I've got no new information to add on the topic, to avoid becoming repetitive, I'll leave it at that on this one.  I do of course feel sorry for people that have bought into this when it was on its run who are now seeing losses, though plenty of other spec stocks have been hit as well of course.


----------



## juw177 (6 August 2007)

prawn_86 said:


> i am happy holding mine still.




I see you are doing the same for all your other spec miners: TMR, FWL and FNT. "Happily in the bottom drawer"?

Do you even realise the risk of holding a portfolio of spec miners long term? If you hadnt taken that into account before, then surely seeing your stocks cut in half in the last week has woken you up?


----------



## prawn_86 (6 August 2007)

juw177 said:


> I see you are doing the same for all your other spec miners: TMR, FWL and FNT. "Happily in the bottom drawer"?




TMR is by no means a speculative miner. they have consitenet profit and are continually expanding and cutting costs. See that thread for more info.

FNT i am free holding half my original parcel so i am happy for it to be in the bottom drawer.

FWL and RMI i will admit are speculative but i believe that my research and judgements are correct.

the whole market has taken a hit, not just my portfolio. and my timeframe is always medium to long term so corrections dont bother me too much, as i believe in the 'stronger for longer' commodity theory. plus my tolerance to risk is high due to the fact i am young.

situations like this im happy to not even have the price screen open, and just check the prices at the end of the day.


----------



## Pommiegranite (6 August 2007)

prawn_86 said:


> TMR is by no means a speculative miner. they have consitenet profit and are continually expanding and cutting costs. See that thread for more info.
> 
> FNT i am free holding half my original parcel so i am happy for it to be in the bottom drawer.
> 
> ...




Although I agree with you somewhat, there is nothing like sitting on cash at the moment, and hoping for another red dow day. Good luck to all holders.


----------



## juw177 (6 August 2007)

prawn_86 said:


> TMR is by no means a speculative miner. they have consitenet profit and are continually expanding and cutting costs. See that thread for more info.
> 
> FNT i am free holding half my original parcel so i am happy for it to be in the bottom drawer.
> 
> ...




My oh my. So your reasons that the correction does not bother you is:

-You are freeholding: why should unrealised gains be treated so differently to realised gains?

-You believe your research and judgements are correct: I dont know what your reasons are but believing you are correct does not mean you can predict the market

-The whole market took a hit: nothing to do with your research so in a way you are still correct?

-You are young and tolerate risk: you are young and a well calculated investment today will make a big difference as it compounds over the years.

-You want to hold long term: even though you have only bought in very recently and the companies are largely speculative.

-You dont loook at the price screen: if you dont see the red it isnt there right?


Sounds like somebody just does not want to accept.


----------



## juw177 (6 August 2007)

And one more thing Prawn_86, being young and tolerating of risk is one thing. Refusing to admit there is a risk is something else entirely, and is very stupid.


----------



## prawn_86 (6 August 2007)

juw177 said:


> My oh my. So your reasons that the correction does not bother you is:
> 
> 1. You are freeholding: why should unrealised gains be treated so differently to realised gains?
> 
> ...




1. freeholding is part of my strategy and as i have said, i am comfortable with my investments

2. i do not pretend to be able to predict the market, but taking a longer term view, small hiccups are inevitable.

3. Im not sure i understand what this is trying to say. How many people here accurately predicted a correction on any of their stocks, speculative or not.

4. I agree that compounding will make a huge difference over time. however my investment money is not the only savings/assets i have and i am comfortable with my risk profile.

5. I have only bought in recently but everyone has to start somewhere. I will admit i have been investing for under a year and know very little, but i prefer to look at longer term value than a short time frame such as a week or a month.

6. Im happy to accept that my portfolio has decreased significantly in value over the last couple weeks.

the main reason the correction does not bother me is as i have previously mentioned, i believe in the 'stronger for longer' theory, and believe that this is only a correction, not the start of a bear market. i could well be wrong and will admit it if it does come to that.

this doesnt seem to have too much to do with RMI though, so if you wish to discuss it further feel free to PM me as i am happy to learn as much as possible and gain as many perspectives as possible.

edit - i know my investments are high risk, that is why i do not invest money i cannot ultimately afford to lose in an absolute worst case scenario.


----------



## Bushman (6 August 2007)

juw177 said:


> And one more thing Prawn_86, being young and tolerating of risk is one thing. Refusing to admit there is a risk is something else entirely, and is very stupid.




Just like over reacting in a blind panic to every market correction is over the top. Both sides to every argument. Why sell and lock in losses at the height of a correction if you are not a day trader. Seems pointless to me if you have done the fundamental research.

Easiest gig in the world being a bear on any speccie stock thread at the moment.


----------



## juw177 (6 August 2007)

Sorry for derailing the thread. I am not down ramping RMI, I believe in YT's analysis and that there is massive upside to this.

Was just a little worried that the above poster believes so strongly he is passing off a 50% loss as an "inevitable small hiccup". Good luck to holders. I will be watching this stock closely when the uptrend resumes.


----------



## prawn_86 (6 August 2007)

one must remember that RMI ran very hard to get to its recent highs.

when i first posted my analysis on it, it was at 6c. Today its low was 7c. So that is still a 16% gain in a month, which is still a good return.


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## Sean K (6 August 2007)

Everyone above, and below, this is what happens during a correction. 

In 15 years time, you will have seen it before, and be more comfortable with it. 

Learn from the experience.


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## juw177 (6 August 2007)

That's true it has run hard. Sorry, didnt realise you posted an analysis too. In any case, Wowo does have the potential to turn this one into a real winner but until then, the market will take a long time to realise the fundamentals especially in these conditions.


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## prawn_86 (7 August 2007)

Although not mentioning RMI specifically, this article shows the type of companys which may be interested in what they have...

http://www.smh.com.au/news/Business/Teck-Cominco-on-hunt-for-acquisitions/2007/08/06/1186252611215.html


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## tsar (8 August 2007)

*RMI - Resource Mining*

This is a very interesting company at a bit of a bargain price in my opinion. Huge potential with nickle reserves in PNG however the resource is quite low. Read the latest report by Pattersons on RMI's website for some info. Taken a bit of a beating lately with delays in drilling. Good time to pick up a bargain in my opinion


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## SGB (9 August 2007)

Is there something wrong with my platform or are others having difficult with RMI depth. 
My platform reads

0.078 319,191 1 
0.079 139,748 2 
*0.080 164,000 2 
0.081 39,840 1 
0.080 210,000 2 
0.081 190,000 2 *
0.082 838,000 7 
0.083 26,440 1 
0.082 120,000 1 
0.083 640,226 

ands its not moving


----------



## powerkoala (9 August 2007)

SGB said:


> Is there something wrong with my platform or are others having difficult with RMI depth.
> My platform reads
> 
> 0.078 319,191 1
> ...




Buyers
Number Quantity Price 
3 357936 0.076 
5 590000 0.075 
3 330000 0.074 
10 637187 0.073 
7 769211 0.072 
8 599563 0.071 
8 966841 0.070 
5 1000000 0.069 
1 100000 0.068 
2 453000 0.066 

 Sellers
Price Quantity Number 
0.078 319191 1 
0.079 279748 3 
0.080 374000 4 
0.081 229840 3 
0.082 958000 8 
0.083 666666 4 
0.084 353846 2 
0.085 292000 4 
0.086 132000 2 
0.087 50000 

and last transaction 7.8c 50000 at 12:41:02
cheers


----------



## skiper (9 August 2007)

SGB, no trades since 12.41, so i think you will find everything is OK, we just need to go higher in price lol


----------



## SGB (9 August 2007)

skiper said:


> SGB, no trades since 12.41, so i think you will find everything is OK, we just need to go higher in price lol




Thanks guys

Just had a bug there for a minute in my watchlist, so i had to take out RMI and re put it back in and now seems to be OK. Might have to visit COMSEC thread.


----------



## powerkoala (9 August 2007)

hm,.. nice movement from the last 15 minutes.
big buyers just arrived.
now at 8.4c.
still 30 minutes to close.
will it reach 9c barrier today?


----------



## ALFguy (9 August 2007)

powerkoala said:


> hm,.. nice movement from the last 15 minutes.
> big buyers just arrived.
> now at 8.4c.
> still 30 minutes to close.
> will it reach 9c barrier today?




Absolutely amazing the effect that a single order has. I guess it was 1mil though, but still.

We do appear to have shaken out all the weaker holders though as there was very little dumping today.


----------



## powerkoala (9 August 2007)

True, on single order at 8c and then jump to 8.1c.
The rest just follow.
I wish I had lot money like that 
Think we will have close high today.


----------



## golfmos123 (10 August 2007)

Hey koala,
You got your high close yesterday but a bit of a fall from the tree today.  Any opinions on when we're going to see a longterm breakout from the 7s into something higher and more comfortable for me?

I got into this one at the wrong time I guess (in the 10s) and have been buying more and averaging down as it keeps goes down.  Going to run out of money soon if it keeps falling


----------



## jl77 (10 August 2007)

toc_bat said:


> indeed rmi is plumbing some real depths here,
> 
> im on a big % loss(down 40%), but not so big $ loss and up until a few weeks agos i would be loosing sleep, but my father has a different perspective and i think its rubbed off on me a bit, most of his trades last a few years, so to him (i alerted him to this - and he got some at 8.9c) this time frame is not of much concern, in fact he want to buy more, funny tho i am not thinking of buying more, i guess i like to see them go up first - then usually am too slow to react and buy in at a high, maybe using this panicked market to get some more is not such a bad idea,




Hang in there.  As an old man once said to me its time in the market NOT timing the market.
Base your decisions on strong fundamentals and always DYOR.  Then do some more!!
In 12 months time we'll wonder why people were jumping out of windows.
Check out the DOW correction about 6 months ago, albeit bigger, these things happen regularly.

Cheers.


----------



## powerkoala (10 August 2007)

golfmos123 said:


> Hey koala,
> You got your high close yesterday but a bit of a fall from the tree today.  Any opinions on when we're going to see a longterm breakout from the 7s into something higher and more comfortable for me?
> 
> I got into this one at the wrong time I guess (in the 10s) and have been buying more and averaging down as it keeps goes down.  Going to run out of money soon if it keeps falling




yes, i also shock my self when all the market have to dive. 
i got in at 7.2c and had to sell today. 
just like YT said, fundamental still good. 
wowo project will be something interesting. 
but the nickel price is suffering from massive lost.  
all markets in europe are bloody red, no doubt dow will follow the beating. 
i guess we will see down day again on monday.


----------



## zhang9288 (13 August 2007)

RMI Directors should go to China and promote the WOWO project.. Without Chinese money they can抰 do nothing especially with this never ending liquidity crisis.
If drilling results turn out OK and the Chinese can help develop it. RMI could be another Fortescue FMG story. If not they抣l survive only on the pettiness of JVs and farming out.

You抳e got to take your hat off to A. Forrest. When he started his FMG 揹ream?at 30c a share people said here he comes again, Mr Anaconda trying to sell us more snake oil?local funds didn抰 give a damn or a dime. He hopped on a plane to China and the rest is history.. in 2 year he turned the company into 4th largest in oz with SP close to 40 bucks. 
Now Andrew knows the Chinese are cashed up and buying big 卼hey抳e secured a lot of Iron ore thru FMG, building rail lines and port?but they need Nickel So he took over Niagara?and turned it into Poseidon Nickel (POS)? and watch what抯 going to happen at the end of the year if drilling results are Good卪ore Tenements匤Vs..etc?And her is a benefit for Cullen ( Cul ).. waiting patiently in the wings卼hank you
Anyone who hops on the Beijing gravy train will prosper..
Come on, Res Min, convince China that PNG is a good bet.. they have political influence 匴OWO is close to the sea and cheap to develop ?It may be as a good deal if not better than Poseidon?Go for it guys.


----------



## GOOGOOJEE (14 August 2007)

whats goin on with the sp, drops another 9% today............... people are just too scared to hold their shares....................Hope this will be the bottom of it.........


----------



## KIWIKARLOS (14 August 2007)

Mate these guys were always heaps spec, the deposit is in rough terrain in a wild country will low grades and huge infrastructure costs. If there is a credit crunch (im not betting on it) these types of companies will be the first to fizzle.


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## Gurgler (15 August 2007)

KIWIKARLOS said:


> If there is a credit crunch (im not betting on it) these types of companies will be the first to fizzle.




Well we seem to have come back to (almost) the same level as before RMI's most recent surge. Where to from here? Have we bottomed yet?

I guess we'll see. 200 point drop overnight on the DOW. Are we entering uncharted/unchartable territory?


----------



## zhang9288 (22 August 2007)

Looking forward to news.

RMI is holding up niceley after yesterdays run.

With a little good news we should see a return to 10cents hopefully.


----------



## skiper (22 August 2007)

Zhang, spoke to the office lady who openly told me there was news coming out Friday, when i quized her she said about the Nickel of course, which may explain some of the buying over the last couple of days:sheep: Watch them all flock back:


----------



## Gurgler (22 August 2007)

zhang9288 said:


> Looking forward to news.
> 
> RMI is holding up niceley after yesterdays run.
> 
> With a little good news we should see a return *to 10cents *hopefully.




Zhang - don't know what you make of this 10 day chart, but it will need some very good news Friday to reach your target. On the other hand, tonight or tomorrow night, the DJIA and the S&P500 may just throw a wet blanket on that. Good luck to all.


----------



## tibby (23 August 2007)

skiper said:


> Zhang, spoke to the office lady who openly told me there was news coming out Friday, when i quized her she said about the Nickel of course, which may explain some of the buying over the last couple of days:sheep: Watch them all flock back:




Hey Skiper...I too have been in contact with the company (Julie Hill) as I wanted to know about the GPR results being released, I was assured it would "nearing the end of the week"...that was on Monday...so should be very close


----------



## INORE (23 August 2007)

Seeing as there is an announcement out soon i thought this may freshen  memories and help rate/justify the SP on any results that may be announced...not sure whether the elusive YT would care to update his most excellent analysis...thanks YT.




YOUNG_TRADER said:


> Guys sorry it took me so long to get this done, but have been trying to trade while researching/typing etc etc
> 
> 
> 
> ...


----------



## prawn_86 (23 August 2007)

i still think these guys are way underpriced, as per YT and my analysis many weeks ago.

try finding me another company whose market cap is less than 0.1% of its NPV.

also, for the people who are worried about cashflow problems consider this:

if RMI was unable to find a JV partner or raise capital (highly unlikely) then if it were to sell only its Wowo project one would safely say that $50million is a minimal figure which they would easily get.

this $50mill is still about 60% higher than the current market cap.

just another way of looking at how wowo has not even begun to be factored into the SP.

enjoy!


----------



## YOUNG_TRADER (23 August 2007)

Hi guys,

Well there's nothing to update really hence why I haven't made a comment,

The SP has gotten absolutely smashed, but then so have most spec's although I felt the pain more on RMI, can't believe at one point it was at 4.1c!!!!!!!!!!!!!!!!!!


Once company releases some results, then they'll be something for me to update

Cheers,

p.s. still waiting for capital raising, they need money based on their last qtrly, pity they didn't try and raise it when the SP was 14c


----------



## INORE (24 August 2007)

Well a few people selling out now....perhaps cos of the weekend nerves and i must admit i allmost did too....but most of the trades that went through today were above 8c so i beleive that may add some support....perhaps the announcement was sent to the ASX yesterday/today hence the delay in getting to market...hoping on an after market closes announcement....

Tibby or Skiper, you's wanna call rmi and ask them WTF?


----------



## prawn_86 (24 August 2007)

yeh i woke up hoping for a ann symbol next to rmi this morning and yet it hasnt come up all day.

patience is the key, it was always my plan to hold to the announcement, so another weekend wont hurt


----------



## juw177 (27 August 2007)

Was there not some word of an annoucement coming up? Or was that just a ramp? If so it worked because Friday's SP spike was probably due to people believing there was an annoucement. (Yes I was one of those people that bought in a few days ago)


----------



## prawn_86 (27 August 2007)

im not sure of the specifics as i havnt rang the company, but a wowo announcement is well overdue, even taking into account the delay they mentioned in their quarterly


----------



## tibby (27 August 2007)

prawn_86 said:


> im not sure of the specifics as i havnt rang the company, but a wowo announcement is well overdue, even taking into account the delay they mentioned in their quarterly




Hi Guys....I was told last Monday that an announcement would be due regarding WOWO project "nearing the end of the week" I have since been informed by Julie Hill via email that they are planning to ..........."release an announcement early this week which provide an update on the exploration progress at the Wowo Gap project"


----------



## INORE (27 August 2007)

tibby said:


> Hi Guys....I was told last Monday that an announcement would be due regarding WOWO project "nearing the end of the week" I have since been informed by Julie Hill via email that they are planning to ..........."release an announcement early this week which provide an update on the exploration progress at the Wowo Gap project"




thanks for the follow up tibby...Is Julie Hill a director? Lets hope its a positive announcement.........


----------



## juw177 (27 August 2007)

Julie Hill is the company secretary according to ASX website. I am holding and will top up if the ann is good.


----------



## tibby (27 August 2007)

INORE said:


> thanks for the follow up tibby...Is Julie Hill a director? Lets hope its a positive announcement.........




No problem inore..........Julie Hill is the Company Secretary. Will wait and see I suppose as to when the announcement actually comes out, I will be watching sp very closely as there are a few traders out there that jumped on late last week to have a punt on the announcement....you would like to think that people would wait until the announcement comes out to make a decision...

I have a question for anyone out there that may have been looking ouside the square on this one....does anyone know if the rainfall in PNG has been unusually high as stated in the last quarterly. This was one of the reasons for the GPR results delay, just dawned on me that I never actually checked if that was true, exaggerated or whatever...just nit picking I supose


----------



## Mazrox (27 August 2007)

Got all excited when I saw the "news" icon up .... but just a notice re options for the consultants.

(Sigh) I guess I can wait a bit longer...

(Investing and trading in shares really does help develop your patience!)


----------



## tibby (27 August 2007)

Hi Everyone,

Just had contact with the company and got a few answers from Alicia Pugh. Thought I would post a few comments that I took from it.

Rain in PNG has still be unpredicatable, but the work rate has *improved substantially. *

GPR results at Wowo are close to being completed and the delays have been due to *technical problems on the part of the contractor supplying the service. *

*Drilling will be complete on the main resource by October*. There will be announcement very soon updating the progress with the Wowo project.

Not alot of info I know. But gives a start on what we can expect in the announcement. GPR results still not completed, I believe the last quarterly was aiming for 2-3 weeks.....


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## prawn_86 (27 August 2007)

I know that some things are beyond a company's control, but i wish that they would not set dates if they were not 100% sure about them. 

shows bad management in my eyes.

the management team was one of the potential downsides i highlighted in my very first analysis...


----------



## countryboy (27 August 2007)

Another strong volume today around 8c. (above 3million traded) Anything for those into charts to suggest an upward movement?


----------



## INORE (28 August 2007)

tibby said:


> Hi Everyone,
> 
> Just had contact with the company and got a few answers from Alicia Pugh. Thought I would post a few comments that I took from it.
> 
> ...




Thanks again Tibby....do you know if there will be any drill results posted in this weeks announcememt...I think they had drilled four holes???  Did Alicia give you any idea if the drill results would be released as they become available or just at the end of October?  Cheers.


----------



## tibby (28 August 2007)

INORE said:


> Thanks again Tibby....do you know if there will be any drill results posted in this weeks announcememt...I think they had drilled four holes???  Did Alicia give you any idea if the drill results would be released as they become available or just at the end of October?  Cheers.




From what I got it seems as though the announcement in the next few days will be an update of the entire Wowo gap project..available drill results and all. The one emphasis I took was the idea that she told me that work rate has improved substantially...not a lot of info I know...but I came out of it with a very positive vibe...


----------



## juw177 (28 August 2007)

A positive announcement comes out and stock price falls right after. Gee, I didnt see that one coming.


----------



## INORE (28 August 2007)

Well announcement out....I think they should have waited for a few more drill results towards the east of their tennament as I believe these results would/are going to get better and better ( u can see the results are getting better towards the east on the 3 results announced today)...I think they should have made this a bit clearer in their announcement....any thoughts?


----------



## alanding (28 August 2007)

Still have to wait for a long to rise back to 10C. If RMI cannot find a JV and cannot get finance, we will lost money. Hope get good news from RMI


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## GOSAFAS (28 August 2007)

I don't see this as a great announcement. On the contrary, I see lots of negativity reading between the lines. 

I also agree that they are desperately in need of a JV partner, otherwise they are cactus.

For mine, there are many other companies with far more potential and upside then this one - but thats just my humble opinion.

Have fun!


----------



## INORE (28 August 2007)

GOSAFAS said:


> I don't see this as a great announcement. On the contrary, I see lots of negativity reading between the lines.
> 
> I also agree that they are desperately in need of a JV partner, otherwise they are cactus.
> 
> ...




G
perhaps you could share with us the many other companies with far more potential and upside......so we could see why you even bothered posting your thoughts without any specifics.


----------



## prawn_86 (28 August 2007)

I think all holders know by now that RMI have a cash shortage situation. But hopefully the directors managed to talk to a few people who are interested while they were overseas.

I think that one area the management team could improve upon is their announcements, which INORE mentioned. They need to put a more positive light on thier news rather than just reporting it, plus releasing a steady stream would also help maintain interest. They should take a leaf out of FNT's book, those guys seems to be able to sell any result lol.

There is still a lot of potential upside to RMI, despite the cashflow situation, but it is, and always has been a speculative stock. 

GOSAFAS, I too would like to know of other stocks out there who's market cap is valued at less than 0.1% of their in situ resources.


----------



## resourcesman (28 August 2007)

RMI has large potential reserves, but not particularly high grades..... its only going to be economical at high nickel prices, which hasnt been the case the past few months... I guess whether this resource is worth anything depends on whether you believe in higher nickel prices in the longer term when RMI can actually develop this resource.
If the nickel prices become too low, and remain that way, this is not going to be economical and the resources will be worth almost nothing..... having said that, i dont think that will be the case

Anyway, I dont see it moving too much in the short term, until the Oct end of drilling, so I got out for now.

Then again, I had the same thought on Bannerman after I bought at the bottom a week or so ago and sold out soon after, but it ran alot harder once I got out so I left alot of profit on the table.

good luck fellas


----------



## golfmos123 (29 August 2007)

Agreed guys - not the news we were looking for really.  Might be a while until we get back to double figures now.  Still a good story but might run out of some steam for while without an interesting update or two.....


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## prawn_86 (12 September 2007)

Over 6mill traded in the past half hour. Someone is buying up big, possibly in anticipation of further drill results which must only be a week or two away now.

any other reason people can think of?


----------



## norip_zxy (12 September 2007)

nobody wanna talk about RMI, but really strange trading in morning...

what do u guys think of the latent capacity of Wowo? 
good news or bad news will come out in next week?


----------



## prawn_86 (12 September 2007)

i think that RMI has potential, depending on the results.

the problems however, are the fact that some people may be looking to get out at 'break even' if they purchased in or close to double figure. And a lot of people are wanting to know how RMI are going to solve their cash situation so this may detract from any positive announcements


----------



## INORE (12 September 2007)

prawn_86 said:


> Over 6mill traded in the past half hour. Someone is buying up big, possibly in anticipation of further drill results which must only be a week or two away now.
> 
> any other reason people can think of?





hi prawn, do you know if the 6mill that went through was from a few big orders or was it lots of medium orders?

does anyone feel like contacting the company and ask about any pending results?


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## prawn_86 (12 September 2007)

INORE said:


> hi prawn, do you know if the 6mill that went through was from a few big orders or was it lots of medium orders?
> 
> does anyone feel like contacting the company and ask about any pending results?




i think one order was over 2mill, but i dont have very sophisticated software or anything so that is just from memory. My broker only lets me see the last 10 trade volumes.

i dont think there is any need to contact the co. In their last ann on 28/8 they said:


> Samples from a further 6 holes for approximately 140 metres of drilling have been sent for assay determination. Assay turnaround is three to four weeks.





> By October, diamond drilling will be completed over the current resource area





> The pit has been mapped and sampled with results expected in September.




so we know that at least one set of results must be getting close now. hopefully late next week 

dont forget there could also be an ann regarding finances soon. Either farm-in, JV, placement etc etc


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## INORE (12 September 2007)

ok thanks....i did a qik calc and 6 million shares in a half hour was around 350k's worth of stock which is nothing to sneeze at on a small stock like this for only a couple of orders....hmmm insider trading or a very big gut feeling we will probably never know.....i thought i read a post of someone on this forum that is trading on purely large order quantities that go thru before any announcements have come out....i wonder what their thoughts or if this would have been a big enough trigger for them to buy RMI after these volumes we saw this morn???? (if that makes sense)   cheers.


----------



## SGB (12 September 2007)

INORE said:


> hi prawn, do you know if the 6mill that went through was from a few big orders or was it lots of medium orders?
> 
> does anyone feel like contacting the company and ask about any pending results?




Heres the Course Of Sales for today guys. Only 1 really big order for 550000@.07. Plenty of 100000 to 200000

Cheers
SGB


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## prawn_86 (12 September 2007)

thanks SGB,

is there anyway i can access datat like this without having to pay for it? as my broker doesnt provide it


----------



## SGB (12 September 2007)

prawn_86 said:


> thanks SGB,
> 
> is there anyway i can access datat like this without having to pay for it? as my broker doesnt provide it




Hi prawn

You sure can champ, go to http://www.smh.com.au/business/ and click on 
*quotes* then RMI, *Course of Sales* in drop box.
You will prob have to sign up first but it is for free.
Ive actually set up a watchlist where I can enter straight to watchlist via opening page.
Hope this helps.
SGB


----------



## camaybay (13 September 2007)

prawn_86 said:


> thanks SGB,
> 
> is there anyway i can access datat like this without having to pay for it? as my broker doesnt provide it




Have a look at 
www.stocknessmonster.com. I found the link on this site  a month or so ago. Code in left side box and hit arrow. No sign up required.
Cheers


----------



## rico01 (21 September 2007)

Rmi    

Currently 7.2c and showing signs of life again.
Maybe the assays we're waiting on are about to be released. On the 28 august they said they had sent assays for a further 6 holes. With a turnaround of 3-4 weeks which is about now.


----------



## copper_hot (21 September 2007)

rmi sped thru to low 7s on no news :s

good to see that theres decent buy depth at these prices.. hopefully we get an announcement soon!!


----------



## daaussie (21 September 2007)

RMI zoomed to finish the day at 7.9 cents with good 7.5 support. Maybe back on its way to 14 cents in the next few weeks?
Monday will show a good jump in my humber opinion. 2 days to go...


----------



## rico01 (24 September 2007)

I think there is a lot of anticipation being built up for the announcement due any day now. Currently up 10% and high volume could mean we're heading for a bit of a rally


----------



## YOUNG_TRADER (24 September 2007)

wow this is a very strong move up, 

I hope there some positive news coming re Wowo, but then again it could also be a development option on the Argyle Iron project, 

I notice RDS is flat so I doubt it had anything to do with the RDS JV,

I'm in 2 minds, while I love the long term potential of RMI, I am also worried by the lack of funding and know that some sort of capital raising is a must, 

Will wait to see whats caused to this spike,


----------



## The Barbarian Investor (26 September 2007)

I'm concerned about this one as well..not sure whether to hold "for its potential" or to step out; at the moment its wait and see.

Some members here still seem keen


----------



## prawn_86 (26 September 2007)

Im holding long term and always have been, but i thing short term strength is weakning, and some results to prop it up certainly wouldnt go astray. 

the latest assays must be very very close.


----------



## vert (26 September 2007)

i saw tech/a use a 4 hr chart somewhere the last couple of days and have since looked at some stocks on that time frame,, looks interesting. i bought in at 0.074 friday on volume coming in and the break of the last gap down closure.after mondays gap up i held on and expected the gap to get closed, but 0.077 pushed my nerve a bit with the thought of getting out for a profit.my patience now is being rewarded and if my view of a cup and handle evolves then i look forward to 0.11.


----------



## tech/a (27 September 2007)

*Vert* has asked me to have a look at RMI from my view. Normally I dont do this but here it is.
From a VSA point of view.
The initial up move was supported with increasing volume.
Spreads were wide so to was the gap up on very high volume.
The bar shows absorbsion of buyers as there is no sustained rise on this bar closing near the open.
At this point as a buyer you'd be looking closely at past price action coupled with the close by price action.





	

		
			
		

		
	
There are buyers trapped (For sometime) around the 80-85c mark. This is the supply.

Until this is absorbed by new buyers price will remain at this resistance.
The next bar has low volume and shows sellers searching for buyers.
The next bar (25) is an important bar as it tests on volume 77c and finishes off the lows at 81c
The next 2 bars appear to absorb the residual selling and find support at 77c.
Yesterdays bar shows confirmation that supply has been overcome in the near term.
Trading above 90c will show that supply has dried up and the stock can continue in its up move.
Looks good with a technical stop logically at 76c.






*All charts 240 min*

Educational purposes only.


----------



## tech/a (27 September 2007)

My comments have been confirmed this morning by the software after opening.


----------



## vert (27 September 2007)

Thankyou tech for your time and education on this one, greatly appreciated. Might have to invest in that analysis software soon.


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## jl77 (28 September 2007)

hey tech/a, what software are you using for analysis.
Be great to get a handle on that information.

Cheers,

J


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## tech/a (3 October 2007)

Tradeguider.Is the software used.
There is both Realtime and EOD available.
Excellent for smaller timeframes.


----------



## alankew (5 October 2007)

Announcement out for Wowo Gap for any followers,heres the link http://www.asx.com.au/asxpdf/20071005/pdf/314z4jj1j1vsrw.pdf


----------



## Gurgler (5 October 2007)

Seems like the market had either factored in a gain into the SP OR was singularly unimpressed with the WoWo news.

Down to .066 after a move up to 0.073. Either way leaves one quietly reflectful


----------



## moolah (5 October 2007)

I do not understand the laterite results. How do they relate to the amount of nickel? Can someone please explain this? Thanks


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## the_jackal (9 October 2007)

Just looking at the opening of RMI, somebody's got an order for 1 million in at 6.8c, maybe somebody know's something that we don't. Still sitting back quietly confident that the board has something significant to announce just around the corner!


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## Bullion (9 October 2007)

Yes, noticed this too but was waiting for it to get pulled on open. But didn't... Whoever it is, they aren't chasing to buy though...


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## SGB (9 October 2007)

Bullion said:


> Yes, noticed this too but was waiting for it to get pulled on open. But didn't... Whoever it is, they aren't chasing to buy though...




Time(AEST) Price Volume Value Condition Codes 
11:04:55 0.0660 12,000 792.00 XT 
11:03:06 0.0660 10,000 660.00  
10:52:18 0.0650 14,810 962.65  
10:52:18 0.0650 50,000 3,250.00  
*10:52:18 0.0650 800,000 52,000.00*  
10:52:18 0.0650 100,000 6,500.00  
10:52:18 0.0650 35,190 2,287.35  
10:51:08 0.0660 50,000 3,300.00  
10:51:08 0.0660 190,000 12,540.00  
10:50:16 0.0660 195,000 12,870.00  
10:50:16 0.0670 55,000 3,685.00  
10:41:57 0.0670 20,000 1,340.00  
10:31:25 0.0680 50,000 3,400.00 XT 
10:15:37 0.0680 200,000 13,600.00  
10:06:41 0.0680 200,000 13,600.00  
10:06:41 0.0680 200,000 13,600.00  
10:06:41 0.0680 15,000 1,020.00 XT


----------



## alankew (10 October 2007)

announcement out,company is in trading halt pending an announcement till pre open Monday he link.http://www.asx.com.au/asxpdf/20071010/pdf/3151pdzj1x3rjc.pdf


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## YOUNG_TRADER (10 October 2007)

alankew said:


> announcement out,company is in trading halt pending an announcement till pre open Monday he link.http://www.asx.com.au/asxpdf/20071010/pdf/3151pdzj1x3rjc.pdf




My guess is its the long overdue placement/capital raising, the company has nothing left in the bank, so I would be very surprised if this wasn't the capital raising,

Lets hope its with an Insto or a major like MGX (who is already on the registry)


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## KIWIKARLOS (11 October 2007)

The only prob is the grades at Wowo aren't that great, from what i understand laterite nickle deposits need to contain about 0.1-0.2 % to be really profitable

Most of RMI results so far are under 0.1% mostly around 0.8%. I think these lower end results combined with the location (which requires high cost for transport and difficult access) may put a real downer on this project.

Any thoughts?


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## prawn_86 (11 October 2007)

yeh i was actually unimpressed with the last announcement, and sold my final stake in them after reading the grades.

knowing my luck though they will prob pull a JV with a big co and the price will go through the roof lol.

seriously though, i agree with Kiwi and think that the grades needed to be higher, hence why i sold.


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## the_jackal (11 October 2007)

What happaned to your long term view on RMI prawn?? i think this has got be the announcement we have all be waiting for seen we havnt had much joy over RMI in the last couple of months since hitting 16c! Good Luck to all holders, hopefully our Patience will finally get paid off


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## prawn_86 (11 October 2007)

i do usually have a long term veiw jackal, but with spec stocks i am constantly re-evaluating, after each announcement. With my small amount of capital i cant afford to hold and forget about explorers without an income.

this ann will probably be pay back for me selling out lol. i do still think they will be ok long term, especially once the cash situation is sorted.


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## alankew (12 October 2007)

Announcement out,heres the link http://www.asx.com.au/asxpdf/20071012/pdf/31536s56d6fd4n.pdf  Also seems a bit contradictory"A limited portion of the funds will also be expended on the Argyle Iron Ore Project." and then it says"RMC is in the process of seeking to dispose of this asset or enter into a Joint Venture with
an interested party." So which is it,do they want to axploit it or sell it


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## alanding (13 October 2007)

I am think about the capital raising.
I'd rather a placement than this kind of "RENOUNCEABLE RIGHTS ISSUE"
The SP will go down to 5.3


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## prawn_86 (13 October 2007)

yeh i agree.

will be a couple months before a rise in RMI imo. i doubt they will release any other majorly price sensitive news until after all the rights issue things are sorted.


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## YOUNG_TRADER (14 October 2007)

YOUNG_TRADER said:


> My guess is its the long overdue placement/capital raising, the company has nothing left in the bank, so I would be very surprised if this wasn't the capital raising,
> 
> Lets hope its with an Insto or a major like MGX (who is already on the registry)




well I knew it, I knew that they needed the cash and I knew that they'd be raising funds 

And yet again they do it absolute bargain basement levels, why RMI why?

Why did you not raise it when the SP was 10c-16c? CVI did, why wait untill your SP tanks and then raise money?

As with BYR, I am starting to lose confidence in RMI's management

A very poor result IMO


----------



## johnmwu3 (14 October 2007)

YOUNG_TRADER said:


> well I knew it, I knew that they needed the cash and I knew that they'd be raising funds
> 
> And yet again they do it absolute bargain basement levels, why RMI why?
> 
> ...




 Maybe the big stake holders  didn't  plan to pay higher issue price for RMI, they want a bargain, also that's the reason for the price down.
All companies like high issue( placement) price.


----------



## YOUNG_TRADER (23 October 2007)

Well, here's something interesting,

Was reading all of RMI's recent ann's, the investor presentation, where they specifically talk about selling part or all of they're Argyle Iron Ore project,

At first I was dissappointed, why sell an Iron Ore deposit in such a boom mkt? But then I have very little faith in the managment to actually pull off the project as they have been talking about it since late 2005, 

If you read their annual report they were quite serious about getting into production, they had secured 2 Hong Kong Steel traders as corner stone investors, they conducted scoping studies, had shipping and trucking routes planned etc etc yet to date nothing, 

So after further thought, perhaps the best outcome would be to partially sell of the project, so that someone capable can actually develop it and RMI retain a free carried interest.

So then I was reading the annual report and I came across its top 20 shareholders and guess who's been buying? Cape Lambert Iron Ore, CFE, not many, about 5m, but it still begs the question why?

My best guess is that CFE is going to JV the Iron ore project with RMI and they are taking a strategic investment in RMI, ie like AQA did with its Iron ore JV partners RHI and now HLX. I'm guessing they're buying before announcing the JV so as to get the cheapest price possible.

Interesting to say the least, so I bought some more this morning and added to the portion I was holding from way back when.

Thoughts?

p.s. There's a 1 for 10 rights issue @ 5.3c under way, stock goes Ex tomoz, but given its 1 for 10 I expect minimal selling


----------



## powerkoala (23 October 2007)

YOUNG_TRADER said:


> Well, here's something interesting,
> 
> Was reading all of RMI's recent ann's, the investor presentation, where they specifically talk about selling part or all of they're Argyle Iron Ore project,
> 
> ...





great spot you got there YT.
I didn't realize that CFE is interested in RMI at all.
well done. hope this will turn out to be good just like HLX with AQA.
thanks for the info.
regards
ps : still holding and might buy the right issue.


----------



## countryboy (26 October 2007)

RMI is holding up quite well. i expected to be able to buy at 5.3c within a few days. Strange how volume rises just prior to an announcement of any kind. Wish i was privy to that sought of information !


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## shinobi346 (18 November 2007)

Rights issue closes Tuesday. It will be interesting to see where the price leads from here as I think it's been capping the price as of late.


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## snorer (19 November 2007)

Well, a significant jump today, up 15.79%. IHMO not all linked to 1 for 10 issue closing tomorrow. I have taken the offer and also doubled my holding ( not overly large ) Patiencemay pay off !


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## Agusta (20 November 2007)

i holding some rmi shares i got allocate rights shares how do i buy some through commsec its got (rmira  $0) need help?
also do i pay at current price or do i get it @ the issued price i think it was $0.053


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## Georgeb (30 November 2007)

RMI is cheap at these levels. It seems from reading the AGM presentation there is a good chance of a resource upgrade. This will definitely appreciate nicely in the comings months plus we have the Sinom (Hong Kong) connection as well.


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## prawn_86 (30 November 2007)

George, i was one of the original posters on RMI and think it has potential.

But can you provide evidence/research as to why it "will definitely appreciate"?


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## golfmos123 (30 November 2007)

prawn_86 said:


> George, i was one of the original posters on RMI and think it has potential.
> 
> But can you provide evidence/research as to why it "will definitely appreciate"?




I agree with you prawn - I've held RMI for a while now and I guess still don't fully understand the SP drop from 10s down to 5s.  I still think there is potential there but the patience is being tested, especially when there are probably other better areas for my money to be sitting now...

Would love to see some more info George......


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## SGB (21 January 2008)

Finally some news today guys. Management finally back from chrissy break.

Any thoughts?  Long time between discussions.


----------



## braydn (31 January 2008)

Any thoughts on this mornings rise ?   At the moment we are up 20% on no news.
Is this just making up lost ground ?


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## jonojpsg (18 February 2008)

Project update out.  Initial inferred resource of 200m tonnes @ 0.83% Ni, 0.07% Co, which looks pretty good - say compared to MLX resource which is obviously much more conveniently located and much further down the track towards development, but MLX has MC of $350m compared to RMIs of $16m.

WHat do people think?  Worth considering again?  Also with Argyle Iron divestment to provide more cash to help progress things?  Anyone know what the Argyle project is worth?


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## prawn_86 (18 February 2008)

They have been saying that they are going to get rid of Argyle for almost a year now.

These guys have a huge resource, but poor management, combined with a bit of sovereign risk.

I used to be very bullish on these guys, however I think they need a decent geologist and/or marketer on their board.

Nevertheless there is a huge gap between IGV and MC thats for sure.


----------



## JJKools (19 February 2008)

Fair point, RMI could do with a marketer, however there was much to like about the last announcement: 200mt @ .85% Ni.Mkt Cap $20 million.

There is no doubt in my mind that this stock provides massive upside potential and though still plenty of work to do,  IMO Rmi is a bargain at current levels. DYOR im happy accumulating at these prices.

Best wishes to all.


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## countryboy (19 February 2008)

at 4cents a share i couldn't resist taking a position in this stock Upside is ...well down side is only 4c ! so upside is whatever From my quick look through announcements the resources is still open in one direction. another company mining up the road..for me the potenial is there.


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## prawn_86 (19 February 2008)

Hey guys,

my only problem with this stock is the fact that it has had a huge resource for almost a year now, and yet, apart from a quick run up and down, the SP has languished a bit.

Check out my original post:
https://www.aussiestockforums.com/forums/showpost.php?p=176839&postcount=45

and the few after it.

even back then it is way undervalued on an IGV perspective, but nothing seems to happen.

Need a real long term outlook if you are going to hold imo.


----------



## SGB (25 February 2008)

Are we starting to see a technical recovery for RMI?

In recent months RMI, to say the least, has buried the bone in the doghouse  for its longer term fundy holders, an absolute shocker, but technically it could be starting to turn the corner.

Over the last few weeks it seems to have found a solid base @ .04c and with higher highs and higher lows now forming in its price action, gives buyers a bit more confidence to start collecting longer positions.

Even though daily volumns havn't been going through the roof the RSI is steadily heading north which is a good indication for smart accumulators and also there needs to be a gap filled between .11 and .12c at some stage during its cycle.

In saying that, this game does change on a daily basis, and one has to expect the unexpected but things still look more promising than they have been for a while.

SGB


----------



## pan (4 March 2008)

Sinom Hongkong Ltd has brought another stake in the stock today increasing to 15.8%. There is potential for the stock its just the management need to get their act together. This year should be a turning point in where this company is going to head.

cheers pan


----------



## Georgeb (4 March 2008)

There is a good reason why they are increasing their stake. People that run businesses such as Sinom are not stupid and they buy into companies where they see value and money to be made.


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## Sean K (26 March 2008)

SGB said:


> Are we starting to see a technical recovery for RMI?
> 
> In recent months RMI, to say the least, has buried the bone in the doghouse  for its longer term fundy holders, an absolute shocker, but technically it could be starting to turn the corner.
> 
> ...



Looked like it was recovering in Mid to late Feb, but back in the sin bin again. All I can see at the moment, is that .03 could be confirmed as a potential floor. Hard to believe they have that resource sitting there and their MC is languishing like this.  What's really wrong with the deposit? Is it going to have an extraodinary capex/opex? Grade too low?


----------



## SGB (26 March 2008)

kennas said:


> Looked like it was recovering in Mid to late Feb, but back in the sin bin again. All I can see at the moment, is that .03 could be confirmed as a potential floor. Hard to believe they have that resource sitting there and their MC is languishing like this.  What's really wrong with the deposit? Is it going to have an extraodinary capex/opex? Grade too low?




Hi Kennas,

Yes, how things have change technically in the past few weeks. RMI supply/demand ratios have fallen from about 1.5/1 to 3/1 which is causing lack of confidence in price improvement once again. But in fairness these number ratios have been set in all the major juniors, not too many going forward at the moment. 3c does now seem ominous.

RMI seems to have the resources there by going off their previous reports, Wowo Gap Resource ( 200 million tonnes @ 0.83% Ni, 0.07% Co, Representing 1.7 million tonnes of contained nickel) but they just don’t seem to be able to know how to manage its surfacing. Lack of cash also seems to have an impact as well.

Sinom Hongkong LTD increased their stake to 75,616,762 or 15.83%.  Sinom currently has its headquarters in Hong Kong and other offices in Shanghai with a team of 30+ staff experienced in fields of: trading, ship charting, project development, and financial investment. 

The founded and Managing Director of the SINOM Group is Mr Zhang who is also currently a NED of RMI.

As a trader I’m taught not to fall in love with stocks but I just like the future of this thing, especially at current prices. They just need to get it to the surface.

SGB


----------



## action_jackson (19 May 2008)

RMI up 20% on no news..

Could something be finally brewing?  Probably one of the few iron Ore explorers yet to increase in value within the last month or so.. well except for today that is..


----------



## Georgeb (27 May 2008)

When are we expecting an announcement with this? It seems to be stagnant..Are they selling their iron ore tenement?


----------



## speculator101 (27 May 2008)

Sorry, to bother all, just doing some light reading...
and i found this... Does RMI still own part of a gold mine??

23 September 2003
FOR IMMEDIATE RELEASE
ZIMBABWE GOLDMINE OPTION
============================
Resource Mining Corporation Limited is pleased to announce that it has executed an Option and
Share Sale Agreement to acquire a 60 per cent interest in a gold mine in Zimbabwe as previously
announced to the market on 6 August 2003.
Resource Mining Corporation has the option to acquire a 60 per cent interest in a company
incorporated in Zimbabwe which holds the right to acquire 100 per cent of a corporation that holds
the gold mine. The exercise of the option is subject to the completion of a number of matters,
including:
(a) securing the required funding;
(b) shareholder approval;
(c) regulatory approvals (if any) in Zimbabwe.

As to the post above, 
second question:
Does RMI own 75% or 100% of Argyle?
If it does'nt, who is this GAUNLET corp (2004-2005 news) who (originally sold 75% to RMI) has control of the other 25%?

cheers.


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## countryboy (26 June 2008)

rmi courtesy of someone exercising options have $1 million to move forward existing projects. this was badly needed money as they were getting close to running chook raffles to pay wages.
Surge of 20% today on this news...dont get carried away...went from 2.9c to 3.4 c !


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## samt75 (6 May 2009)

I am a current shareholder of this company, bought in around the *6c* levels.
Is there any potential for this company in the future? 
Anyone know anything about them just after a bit more info


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## Kremmen (9 July 2009)

This evening's news: RMI will not participate in cash call in Three Rivers joint venture with SRL. As a result, their share of the venture will drop from 30% to 15.73%.

It would seem that they are either too broke to pony up the cash, or don't consider the Three Rivers project worth it. (As an SRL shareholder, I hope it's the former rather than the latter.)


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## razsta (17 July 2009)

RMI  jumped 75% today. Now I am thinking that is just on the back of the Chinese. Not sure, what do others think.

Iv also noticed that RMI has been bouncing between 4 and 5c. Shortselling I think a quick 20-25% for a few people.

I guess my main question is that does RMI have enough substance to ride out the next 12 months and progress with there plans even though the price of Nickel has taken a beating?


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## mobcat (17 July 2009)

Hi Rasjta hi have not keeped tabs on RMI for a long while i cant belive how far they have fallen ,its amazing only i suppose 2 years ago and i am not BS here i remember dropping 3 million shares into depth at 10 and 11 cents and it rebounded what happend to RMI last i remember the chinese where all over it


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## razsta (22 July 2009)

yeah i remember that as well.Not sure what happened. Seems like they are consolidating their operations. Just a lil curious about this ones behaviour in the next 6 months.


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## action_jackson (21 October 2009)

This ones been on my watch list as i have been a long term holder but am starting to notice an increase in volume over the last few weeks.

Many IO plays have bounced and this one looks like its starting to kick its heals up.


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## Gurgler (23 October 2009)

action_jackson said:


> Many IO plays have bounced and this one looks like its starting to kick its heals up.




I think you might be confusing this explorer as their focus is Nickel and Copper plus some Cobalt perhaps - but not iron ore.

Yes it is making some moves (the first of which was triggered by the 14 Sept WoWo Gap Feasibility Study Progress report:

*Resource Estimate Update:
JORC Compliant Indicated Resource of 39Mt @ 1.00% Ni, 0.05% Co**
With additional Inferred Resource of 43Mt @ 1.00% Ni, 0.06% Co**
**Note: Resources are reported at 0.8%Ni Block Cut-off*

Interesting, but not spectacular - yet!
This was a change from the previously dormant 12 months! Maybe it is over its WoWo woes (whoa, too much!)


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## action_jackson (23 October 2009)

Thanks for the clarification..  goes to show how much a company can change over a year.  One of their main focuses used to be the Argyle Iron Ore Project but this looks to have been sold off earlier in the year.

Regardless a bit of share accumulation seems to be going on which is a nice change..


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## Gurgler (23 October 2009)

action_jackson said:


> One of their main focuses used to be the Argyle Iron Ore Project ......




Ah, yes, how time flies, they sold that off in April 2008 and so little water under the bridge, since then!


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## countryboy (8 February 2010)

Wowo gap is getting alot of attention as they prod slowly forward towards a BFS. One stock site is very excited about the prospects of the project. Volumes and arise towards 1 c suggest people are backing this with their pocket money. Like so many other projects they will need cash and who has all the cash?


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## Megacents (10 February 2010)

Country Boy what about the lease renewal? This still has not been anounced and if this occurs then the next stage will be funding as the cash is getting very low.

cheers Megacents dyor


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## mobcat (28 April 2010)

Huge record breaking trading days yesterday and today 140M in total WOWO could be coming into play ATM keep a close eye on RMI the Chinese are all over it Sinopec own a big share of RMI and they have it for a reason


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## asx256 (30 April 2010)

interesting stock indeed. looks like every dog has its own day! 
Any way some one told me on Wednesday that after many months of BS stories behind this company directors have managed to get what they have been waiting for!
Of-course they couldn't have done it by them self's and apparently the Chinese help them along the way.(Which interestingly have loaded more shares this month) 
Any way soon or later the word will get out and hopefully it will be good for RMI/RMIO.

Who knows we just might have another cap! rising from ashes


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## mobcat (3 May 2010)

Huge Vol again today 80M what do,s all this mean i new this was cheap just wish i would of bought more @ .5 just bought more @ .7


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## petee (3 May 2010)

mobcat said:


> Huge Vol again today 80M what do,s all this mean i new this was cheap just wish i would of bought more @ .5 just bought more @ .7




420K in cash.over a billion shares on issue and the WOWO gap project is a dog..in my opinion.steer clear buyers beware


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## mobcat (3 May 2010)

With respect Pete i think you may of left out about 2.6M LOL 

Note to Appendix 5B
For the quarter ended 30 April 2010
The company conducted a Renounceable Rights Issue during the quarter which closed
on 29 March 2010. The result of the Rights Issue was that 525,227,001 new shares
and 175,075,463 new options were allotted on 8 April 2010. The total amount of
funds raised by the Rights Issue (before costs) was $2.6m and these funds were
received by the company in early April 2010.

I cant wait for tommorows trading on RMI the Vol thats presenting is huge and if we clear 0.7 tommorow 1 cent is the next step IMO and then it,s :band party time


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## Joe Blow (3 May 2010)

mobcat said:


> With respect Pete i think you may of left out about 2.6M LOL
> 
> Note to Appendix 5B
> For the quarter ended 30 April 2010
> ...




Mobcat, I think if you're going to suggest that RMI is going to $0.01 I think you need to explain *why* you think it's going to $0.01.

Some additional detail would be appreciated.


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## mobcat (3 May 2010)

No worries JB its just a matter of Mcap relative to IGV ATM RMI,s WOWO gap project is valued by the pre fesability study @ Many 100,s of millions of dollars

I pulled this from the RMI website for you JB enjoy

In order to understand the value of the Wowo Gap Project, as part of the next stage for development and for information as RMC seeks to engage a major industry partner to undertake further work at Wowo Gap, the Board engaged Mr John Wyatt to undertake an independent valuation of the project.

The following is a direct quote from the summary of Mr Wyatts Report:

Based on the results of exploration completed to date within EL 1165, Wowo Gap, PNG together with an assessment of similar lateritic nickel/cobalt resources in Papua New Guinea, New Caledonia and Australia, the Wowo Gap Project has been assigned a current value within the range:-AUD$150M to AUD$600M and having a preferred value of AUD$168M

This valuation range was calculated firstly using what were believed to be suitably discounted net present values of estimated cash flows using information on mining costs and metal recoveries supplied by RMC.

The preferred value was selected by way of comparisons with other nickel/cobalt projects, particularly in PNG, nearby Caledonia and Australia.

Whereas the valuation date is based on current metal market conditions, the selected metal prices came from historical records over the past 20 years, between 1989 2009

According to Mr Wyatts valuation approach, the above value is based on the exploration value as opposed to an operational value, as such, an increase in the resource confidence level, may translate into an increase in overall project value.




So JB the preferred value is $168M lets call it half that say $80M divided by the current script of what 1.5B = a SP of 5.33cents so my 1 cent ST prediction is a given on spec alone IMO JB :band


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## asx256 (3 May 2010)

Yes, plus recent trading activities and latest talk about the JV with another oversea company.
:
HINT HINT 
Hope this helps (From the company website)


Zhang Chi
Non-Executive Director
Mr Zhang graduated with a Degree in Economics from the Renmin University in China in 1990. After a career in accounting and finance with the BaoSteel Group, during which he was appointed as a Director of their Hong Kong based shipping and transport subsidiary, Mr Zhang is the founded and Managing Director of the SINOM Group an enterprise with its main activities evolving from iron ore trader and operator in the Chinese steel industry to resources supplier and strategic investor.
SINOM currently has its headquarters in Hong Kong and other offices in Shanghai with a team of 30+ staff experienced in fields of: trading, ship charting, project development, and financial investment.


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## mobcat (5 May 2010)

Sure showed strength today RMI my screens where a sea of RED and RMI sitting up there holding it,s own @ even after a early sell down a good sign shows a backbone and a bottom, suppose if things dont go pair shape in Europe we should see 7,s and above soon enough


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## mobcat (3 June 2010)

Oh well we went pear shaped in Europe and i suppose we held up OK considering the the hammering the ASX has taken in the last month lets hope for some news on the license and some MT blue skys again


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## mobcat (27 June 2010)

Well the renewal of WOWO gap nickle project is in the bag now as of Friday nights Ann so lets see what the market thinks of our huge resource now, 

Monday could be a interesting trading day for RMI lets hope for some large Vol and a bit of a run on the stock RMI do,s seem very cheap relevant to proven resources


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## mobcat (28 June 2010)

Opened up 25% but no Vol to follow through with a sign of the markets ATM suppose  seems way to cheap ATM going to take some more on board today


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## Albi (4 August 2010)

RMI is 40% high. Big volume and rising. I've been holding since few months at .006cent. All of a sudden trading halt. Is there any good news that they are going to announce. Anyone is holding RMI


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## noie (4 August 2010)

I got some RMI after their Quarterly produced a vol spike the next day in at .004 just the min so i would keep an eye on it.. no reason i can see of yet why it would jump 40% .. (tho pennys do..)

hence the Halt..


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## mobcat (9 August 2010)

Big day today guys looks to be confirming a breakout ATM with nearly 200m traded since 0.6 level, things are looking very bullish for RMI and in the ST on spec trading alone we should see much higher levels than the current 0.8.


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## noie (9 August 2010)

mobcat said:


> Big day today guys looks to be confirming a breakout ATM with nearly 200m traded since 0.6 level, things are looking very bullish for RMI and in the ST on spec trading alone we should see much higher levels than the current 0.8.




I am rather happy with this stock just now..  but, i have been looking all day for some news but dont really see anything specific..


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## Sean K (9 August 2010)

mobcat said:


> Big day today guys looks to be confirming a breakout ATM with nearly 200m traded since 0.6 level, things are looking very bullish for RMI and in the ST on spec trading alone we should see much higher levels than the current 0.8.



What's the news mobcat? Really great volume and looks like a break from the down trend since Oct 09. Not sure about 'much higher level' though. Why? Was great volume in May too...


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## mobcat (27 August 2010)

Gaps of Huge Vol in RMI latley 100m plus at times on a rising SP, something is buzzing in RMI,s 22M vol yesterday as well i went in for another 1000,000 today do,s seem very very cheap


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## mobcat (30 August 2010)

After todays update RMI is going to go off IMO pulled this from HC worth a read

So RMI have the WOWO Gap project and as the Quarterly has told us it is our companies main project ATM ....So whats WOWO worth to our company well we already know that our #1 Holder Sinom with 19% of our company is one of China's Conduit,s for for IO and Metals Etc..... Sinom being our # 1 holder is a huge gain for Head office it put,s us in the Big league when it comes to getting in front of the Big $$$$ exiting China ATM and finding there way into Aussie Junior Miners like little Our RMI with Mother lode IGV all the experts have run the numbers over WOWO and ATM the Spec is building big time on the feasibility study out due now to be released, that will lay it out in black and white just what the value of WOWO gap is in todays rising Nickel market.

WOWO Gap Project Valuation

In order to understand the value of the Wowo Gap Project, as part of the next stage for development and for information as RMC seeks to engage a major industry partner to undertake further work at Wowo Gap, the Board engaged Mr John Wyatt to undertake an independent valuation of the project.

The following is a direct quote from the summary of Mr Wyatts Report:

Based on the results of exploration completed to date within EL 1165, Wowo Gap, PNG together with an assessment of similar lateritic nickel/cobalt resources in Papua New Guinea, New Caledonia and Australia, the Wowo Gap Project has been assigned a current value within the range:-AUD$150M to AUD$600M and having a preferred value of AUD$168M

This valuation range was calculated firstly using what were believed to be suitably discounted net present values of estimated cash flows using information on mining costs and metal recoveries supplied by RMC.

The preferred value was selected by way of comparisons with other nickel/cobalt projects, particularly in PNG, nearby Caledonia and Australia.

Whereas the valuation date is based on current metal market conditions, the selected metal prices came from historical records over the past 20 years, between 1989 2009

According to Mr Wyatts valuation approach, the above value is based on the exploration value as opposed to an operational value, as such, an increase in the resource confidence level, may translate into an increase in overall project value.

The full valuation was released in the 2009 December Quarterly Report.

" the Wowo Gap Project has been assigned a current value within the range:-AUD$150M to AUD$600M and having a preferred value of AUD$168M"

Thats a range of 9.5c - 38c with a "preferred value of 10.7c a share

HUGE UPSIDE FROM THESE LEVELS CREW just watch RMI run hard as the story pans out

One can only imagine what RMI SP can do moving forward RMI is building as a mega spec play on the back of WOWO Gap IMO.... very happy to be on board the progressive team in a big way bring on the WOWO head office $$$$


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## mobcat (28 September 2010)

Holders starting to take position now for pending WOWO update line wiper @ 0.8 took 20M shares in one hit today (nice) 42M total Vol today @ 0.8 sure is making the 0.3,s i got only 6 weeks ago very tasty ATM 2 cent target for me and its still cheap 

Wowo Gap Resource Estimate Update.

A critical feature of the Feasibility Study is an updated Resource Estimate. Ravensgate Mineral Industry Consultants were engaged to complete this work. Ravensgate’s report has been received and Resource Mining Corporation (RMC) is pleased to announce the positive outcome of the independent resource estimate for the Wowo Gap Ni-Co Project in PNG.

Indicated Resource: 39 million tonnes @ 1.00% Ni, 0.06% Co
Inferred Resource: 50 million tonnes @ 1.01% Ni, 0.06% Co

(The updated resource estimate is quoted to the appropriate level of precision at a 0.8% Ni block cut off grade. The level of 0.8% Ni has been adopted to better define the quantity of higher grade ore available as potential plant feed.)

Previous Resource Estimate Comparison

Table 1 provides a comparison of the current and previous mineral resource BOTH using a 0.5% Ni cut off grade.

Table 1: Mineral Resource Estimate
Date 	  JORC Classification 	  Quantity 	  % Ni 	  % Co
Feb 2008 	                Inferred 	   200 Mt 	   0.83 	   0.07
Sep 2009 	    Indicated + Inferred 	   190 Mt 	   0.83 	   0.06

Note: This comparison compares well and is further enhanced by considering the substantial decrease in the insitu bulk density.

Reporting of the resource estimate at the block cut off grade of 0.5% Ni, the Inferred and Indicated Resources total 190Mt @ 0.83%Ni, 0.06%Co compares to the 2008 Inferred Resource of 200Mt @ 0.83% Ni. Although the updated resource estimate includes more material volume, the lower tonnage is due to the substantial decrease in insitu bulk densities (IBD) from the 2008 (Table 2) estimate. The updated IBD’s are based on measurements taken by Amdel, (Perth laboratories) from dry diamond core samples.

Table 2: Comparison of IBD between the two estimates.
Material Type 	   2008 IBD (g/cm3) 	   2009 IBD (g/cm3)
Limonite 	            1.5 	             1.1
Saprolite 	            1.5 	             1.3

Resource Details

The resource estimate was undertaken by Ravensgate Minerals Industry Consultants in Perth which included an additional 12 Ground Penetrating Radar (GPR) Profiles, 55 additional wacker drill holes and 27 additional diamond holes drilled since the 2008 resource estimate for a total of 25 GPR profiles, 155 wacker drill holes and 98 diamond drill holes.


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## peter2 (20 May 2022)

Seems I'm not the only one to have missed out on this speculative high flyer. 
*RMI*'s latest prospect (of many over the years) is nickel exploration in Western Tanzania. It seems to have gotten the rabid interest of the spec day trade crowd.


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