# RBM - Redbank Mines



## crazyjimsmith (24 January 2007)

Flying.

One of the regulars bought this when I first spotted it at 8.5c in November


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## YOUNG_TRADER (24 January 2007)

*Re: RBM Redbank*

Had a few tucked away which I picked up around 7c awhile back so a nice little profit

Be warned they have recently/are doing a placement at 7.5c can't remember how many


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## crazyjimsmith (24 January 2007)

*Re: RBM Redbank*



			
				YOUNG_TRADER said:
			
		

> Had a few tucked away which I picked up around 7c awhile back so a nice little profit
> 
> Be warned they have recently/are doing a placement at 7.5c can't remember how many




Fundamentals are very solid but it is really going crazy.

You are taking a risk at this level but in my opinion it is still undervalued.


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## YOUNG_TRADER (24 January 2007)

*Re: RBM Redbank*



			
				crazyjimsmith said:
			
		

> Fundamentals are very solid but it is really going crazy.
> 
> You are taking a risk at this level but in my opinion it is still undervalued.




Agree to some extent,

Its just the underperformance of their Copper operations for the past 6months now has made me more negative towards the story,

Just goes to show how difficult heap leach operations can be, I thought that it would be smooth sailing once they signed offtake with Xstrata for their Copper Concentrate but they failed o meet forecast producction time and time again.

Will be interested to see how their production figures were for this qtr gone by

Good luck to all


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## crazyjimsmith (24 January 2007)

hmmmm 18c up 150%!


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## crazyjimsmith (24 January 2007)

*Re: RBM Redbank*



			
				YOUNG_TRADER said:
			
		

> Agree to some extent,
> 
> Its just the underperformance of their Copper operations for the past 6months now has made me more negative towards the story,
> 
> ...




21c right now........

It must have been that really thick drill interesection that showed 2% copper!


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## blobbob (24 January 2007)

Could be better drilling results to come previous drilling results include-
19.4m @ 8.8% copper from 3 metres to end of hole
18.3m @ 6.5% copper from 6.1 to end of hole


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## crazyjimsmith (24 January 2007)

http://www.brr.com.au/event/RBM/1876/18422

Closed at 18.5c 

Up 150%


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## Atomic5 (25 January 2007)

Report should be available Wednesday. Let's hope they show an improved preformance track record. 

Potential sum total of Cu from recent assays/samples alone seem reasonably impressive so far.


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## malakie_s (27 January 2007)

Core promise for Vitale 

GINO Vitale has proved one of the great survivors on the Perth mining scene. He has fought off shareholder revolts and always managed to rustle up some new money just as the till was getting empty. But there are some who think he has it all ahead of him now. 

His Redbank Mines (formerly Burdekin Pacific) has teamed up with Glencore International, the Swiss-based commodities house agreeing to buy some future production from the Redbank copper mine in the Northern Territory. Glencore will also underwrite $1 million of Redbank's $1.8 million rights issue. But the Glencore boys are not known for offering overly generous terms or letting their investments go off the boil; there are those in Perth who fear Vitale will soon know he's being watched very closely. 
Robin Bromby 
December 02, 2006


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## malakie_s (27 January 2007)

*This was on HC guys, I have seen this gents post in th epast and he is almost always on the money....*

Future production rates is also worth looking at!!!

Year 1 (this year) is a bit over 1000 tonnes ($7-9M)
Year 2 is about 3000 tonnes (approx $24M)
Year 3 is about 4500 tonnes (about $36M)
Year 4 is over 6000 tonnes (about $50M)

Looking at rough profit margins, PE ratios and the such.... RBM should be worth at least 10 times there currently market cap.... Even for a sustained $15M profit at a PE of 10.... gives a market cap of $150M....

This is ignoring the obvious high worth exploration upside!!!

This is going to be a fun ride......

- - - - - - - - - - - - - - - - - - - 

Going throught the 2006 Financial Report released 29/9/06. Highlights below....Makes the current market cap of $13M look VERY cheap IMHO.

Redbank Copper Prospect.

1. A JORC classified mineral resource estimate generated by SRK Consulting has identified Indicated and Inferred Mineral Resources at Redbank of 4.2 million tonnes at an average grade of 1.5% copper, for approximately 65,000 tonnes of contained copper metal. That would make the metal in ground about A$500M... (65,000 x $2.60US/lb). 

2. The plant is expected to progressively increase copper production to an initial target of rate of 80 - 100
tonnes per month, providing an initial revenue base of around $7.0 - $9.0 million per annum on an annualized basis at current prices until depletion of the stockpiles.

3. Further exploration. (Not all of them, just the best below)

- Target16 
Hole A042 from 3.0m to 21.3*m for 18.3m at 6.5%
Hole A046 from 6.1m to 25.6*m for 19.4m at 8.8%

- Redbank
Hole AZDH40 from 9.1m to 30.5*m for 21.4m at 3.4%
Hole AZDH44 surface to 30.5*m for 30.5m 1.9%

NOTE!!! * is end of hole!!!

- Bluff
57m at 2.06% copper from 11m down hole, including 25m at 3.26% copper from 29m in Hole BL06-7;
37m at 0.96% copper from 73m down hole, in Hole BL06-10.
Hole BL06-1, 44m at 1.51% copper from 80m down hole, including 8m at 2.73% copper and 3m at 3.41% copper;
Hole BL06-2, 34m from surface at 1.18% copper, including 7m at 2.17% copper;
Hole BL06-3, 25m from surface at 1.00% copper.

- Punchbowl
Hole AD1 from 38.0m to 158.0m for 120.0m at 1.00%
Hole AD1 from 200.0m to 292.0m for 92.0m at 0.90%

Fiji Gold Prospects

1. The total mineral resource position for the main zone at Mineral Hill estimated in accordance with JORC
guidelines is now 3.4 million tonnes @ 2.2 g/t of gold for 240,000 ounces of gold, in the Indicated and
Inferred categories, based on a 1.0 g/t cut off.

2. PERTH-based explorer Redbank Mines says the latest diamond drilling work at its Mt Kasi project, on the south coast of Vanua Levu in Fiji, has confirmed high-grade gold mineralisation within the Waidamudamu prospect giving the company confidence to announce it is now targeting a resource of around 60,000 ounces for the prospect.

Company

Book value of 12c a share (at 06/06). Just for a comparision of book value vs worth (For the non-accountants), CDU's book value at 06/06 was 14c.



*Always DYOR*


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## ALFguy (27 January 2007)

Malakie,

Did you ask permission from this person to re-post?

Also, it may be polite to acknowledge the person that took the time to write this.


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## krisbarry (27 January 2007)

TwinTurboCelica, is the member who you are mentioning


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## ALFguy (27 January 2007)

Stop_the_clock said:
			
		

> TwinTurboCelica, is the member who you are mentioning




Yes, I'm sure a few ppl know this.

I'm just saying I think it only right to acknowledge the persons work in the post.


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## malakie_s (28 January 2007)

Sorry Turbo!
I was only looking to share information and provide some insight into Redbank Mines...more intrest in you than the company! 

My posting etiquitte is not what it should be...


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## exberliner1 (29 January 2007)

malakie_s said:
			
		

> *This was on HC guys, I have seen this gents post in th epast and he is almost always on the money....*
> 
> Future production rates is also worth looking at!!!
> 
> ...





Hmmmm RBM was nice and strong today...looks like consolidation of last week's rise. All sellers taken out and still a useful rise by the close.

What I aprticuarly like is the options.....ok the strike price is 28c but they mature next year so plenty of time to go.

Judging from what RBM has going for it (see quote) the heads should be in range of the strike price very soon - Makes RBMO a potential short term multi bagger at 4.7c today....

Over 3X leverage available for those brave enough...

I hold RBMO - having solf the heads to buy options...

Anyone else see obvious no brainer style possibilities in RBMO???

EB


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## exberliner1 (30 January 2007)

I have been looking through some of the activities reports for the second half of 2006...

On page 5 of the 30th Oct report Redbank writes about the Waidamdamu gold prospect....this has produced 8.8 g/t and 14.4 g/t AU during the currenr drilling campaign.

The report states that results from 2 diamond drillholes WDDD002 and WDDD008 are "now pending"

Have results from there 2 holes been published yet???.....I can't seem to find any mention of them in ann.s over the last few months...

The mineralisation at Waidamdamu is open in all directions so clarification of these results should help add an expanded JORC AU result to the ongoing CU efforts.

Any ideas???

EB


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## AJ_ (30 January 2007)

hello,

Been holding since RBM was BKS, so am very pleased with recent developments. the potential in this is not fully recognized but the post by malakie (or twinturbo) sums it up the best i reckon.

Well I have sent my monies off for the placement @ 7.2 cents, and already trading @ almost 3 times this looking at the current market price.

This is also my first post here... 

AJ


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## Atomic5 (30 January 2007)

exberliner1 said:
			
		

> I have been looking through some of the activities reports for the second half of 2006...
> 
> On page 5 of the 30th Oct report Redbank writes about the Waidamdamu gold prospect....this has produced 8.8 g/t and 14.4 g/t AU during the currenr drilling campaign.
> 
> ...





Ive just tried the website and PDFs for the results and found nothing either.

Maybe the imminent activities Qrtly might explain it.


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## Atomic5 (1 February 2007)

4th quarter report finally out. Cu production 1/3 of expectations 118 tonnes for the quarter and not 240-300 (no fault of their own), and the missing Gold results for those particular two holes were not worth publishing, however prospects seem good. As always...


http://www.theage.com.au/news/barry...-of-puff/2005/11/20/1132421545726.html?page=2

Mining heavyweights may run out of puff
By Barry FitzGerald
November 21, 2005

[Excerpt]

Ernst & Young reckons that that asset backing (for Redbank Cu project) on a post-consolidation basis will be in the range of 20 ¢ to 46 ¢ a share. That's equivalent to 1 ¢ to 2.3 ¢ before consolidation, and compares with a last sale price for Burdekin of 1.1 ¢.

A side benefit of it all is that project cash flows from Redbank ”” it has an estimated copper resource of some 65,000 tonnes with exploration upside -

Mount Kasi at present stands as a 240,000-ounce resource but has plenty of exploration upside.


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## malakie_s (1 February 2007)

This story and the gold recource are everywhere this morning...

Good luck to all holders.
Thanks TTC for the heads up on this!


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## ALFguy (1 February 2007)

malakie_s said:
			
		

> This story and the gold recource are everywhere this morning...




Care to point out where?


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## AJ_ (2 February 2007)

I couldn't find any news? What are you referring to malakie??

I think more drill results are coming out, and those options are looking nice


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## stiger (2 February 2007)

AJ_ said:
			
		

> I couldn't find any news? What are you referring to malakie??
> 
> I think more drill results are coming out, and those options are looking nice



No no news either but was an ok finish to the day. I hold. cheers


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## Atomic5 (11 February 2007)

Just thought I would post a brief timetable of what to expect for RBM this week and maybe into next week as well:

From the 24th January announcment we know the following news is due:

- *ASSAYS from 5 holes PUNCHBOWL from Dec-Jan2006 drilling: * Redbank will release further results from another five Punchbowl holes drilled as part of the latest drilling program, as they become available.

- *ASSAYS from 2 holes BLUFF from Dec-Jan2006 drilling:* Results to date demonstrate the quality and consistency of the copper mineralisation style at the Bluff, being one of the two breccia pipe deposits being tested in this round of drilling. Redbank is yet to receive results from the final two holes drilled.

A further two diamond holes planned for the same purposes at the Sandy Flat open pit have been deferred until after the end of the wet season.

- *SANDY FLAT ASSAYS:* A series of 10 vertical holes have also been completed to test the grades of approximately 400,000 – 500,000 tonnes of material previously classified as mineralized waste rock and waste from the Sandy Flat pit mined in the mid 1990’s. Assay results are expected in early February.

- *Entitlement 16th February closing date / Placement offer 23rd February:* Pending results from the drilling programme completed in mid January at Redbank, the Company announced on 19 January 2007 that the closing date for the entitlement issue has been extended until 16 February and the placement offer until 23 February (the placement may close prior to this date at any time without notice).



*DRILLING PLAN NEWS DUE as well maybe (?):* 
MEDIA RELEASE 08 FEBRUARY 2007
REDBANK DRILLING CONFIRMS MAJOR NEW SULPHIDE ZONE OPEN AT DEPTH
INDICATES SIGNIFICANT DISSEMINATED COPPER SULPHIDES AT PUNCHBOWL DEPOSIT FROM NEARSURFACE
Redbank Mines Limited (ASX: RBM) *plans to accelerate test drilling of a new broad zone of disseminated copper sulphide * at one of the key copper deposits at its wholly-owned Redbank Copper Project in the Northern Territory, following RC drilling results which indicate the zone extends from near surface to below 290m in depth. The latest results from drilling of the Punchbowl deposit include the following intercepts from adjacent holes:
• 65m @ 1.0% Cu from 19m; and
• 22m @ 1.4% Cu from 50m.
The drill hole producing the 65m intercept was terminated in mineralisation with the last 13m assaying 1.5% copper. These results are consistent with a nearby 1975 diamond core drill hole that returned results of 120m @ 1% Cu from 38m and 92m @ 0.9% Cu from 200m.

These latest results and the 1975 drill hole intercepts indicate the copper sulphide mineralised zone at Punchbowl is broad and remarkably consistent in grade to a depth below 290m. The Perth-based copper producer will now test, as a priority, both the depth and lateral extent of the newly identified disseminated copper sulphide zone at Punchbowl. “The confirmation of significant disseminated sulphide mineralisation at Punchbowl is extremely encouraging,” Redbank’s Managing Director, Mr Gino Vitale said. “The results complement the excellent grades and consistent mineralisation we also encountered at the Bluff deposit during this program, *but our priority now is to test this significant new copper sulphide zone at Punchbowl.”* (Maybe this needs to wait until the wet season is over ....?)

_________________________________________________________________

That covers Copper objectives *1) * as listed in the Quarterly activities report:

*"Exploration priorities at Redbank are;*_

*(1)  testing depth and some lateral extensions of the defined resources at the Bluff, Punchbowl and Sandy Flat breccia pipes;"*_

There is also the following and including Target 16 whose Cu reading shows an actual 8% (anyone know of any map _showing _ Target 16?)

*(2)  following up on the near surface high grade drill hole intercepts at Airport Valley, Azurite and the historical Redbank workings, (which are all outside the defined resources), and,

(3) assessing existing exploration targets in the surrounding tenement ERL 94.*

Any thoughts anyone?


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## JoshyJ (19 February 2007)

Announcement out. And it looks very very good.


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## AJ_ (19 February 2007)

RBM up 60%.. oppies up 100% !!!! wow !!

have a read of the report... excellent news !!! this company has got value !!


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## mick2006 (19 February 2007)

Even with todays rise still only a modest market cap given its exploration upside and current cashflow from small copper operation.  Could be cheap now compared to when they start up drilling again.

Is anyone currently holding?


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## AJ_ (19 February 2007)

I'm holding, because as you said, there is a lot of potential upside.


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## mick2006 (19 February 2007)

The following article highlights the massive potential of RBM well worth the read!!



> Punchbowl holds heady brew for Redbank
> Rebecca Lawson
> Monday, 19 February 2007
> 
> ...


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## krisbarry (20 February 2007)

I entered RBM at 19 cents yesterday, so here's hoping for a rise.

Looking at the chart, shows  quite a lot of bullish support around the 18 to 19 cent, with spikes as high as 22.5 cents.  Pullbacks seems to average around 16 cents


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## mick2006 (20 February 2007)

reading this morning's papers and RBM gets a mention in most of them, it made the insider in the Daily Telegragh.  Also made the Australian Financial Review, The Australian.  Also articles yesterday from The Age, SMH, and a good interview on Boardroom Radio (BRR).  So hopefully the press exposure drums up some more interest in this one.

Remember currently producing copper and with huge exploration upside to add to the 65,000 tonnes of copper resource.

Also very promising high grade gold intercepts from the Mt Kasi gold project in Fiji which adds another string to the bow.

With over $500 million in current in-ground resources, which doesn't factor in the recent drill results.  And only a relatively small market cap it certainly has some serious upside potential.

Anyone else have any views?


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## stiger (20 February 2007)

Performed like a burst boil today,hopefully more people will see the value in RBM tomorrow.Cheers


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## Atomic5 (21 February 2007)

The extent to which buyers have ignored RBM is astoundingly laughable. 

They will pour into most stocks on the merest hint of a rumour or lie, will buy anything anywhere near Rocklands, or at any barely audible mention of CDU, but have yet to perceive what the initial assay finds for RBM might mean.

RBM has yet to confirm Cu volumes, but we are seeing progressive drilling with consistantly positive results and very high grades, and they are 400km NW of CDU.

:car:

MHO - DYOR


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## Atomic5 (21 February 2007)

stiger said:
			
		

> Performed like a burst boil today,hopefully more people will see the value in RBM tomorrow.Cheers




Sounds like an ebullient spill of marauding day traders :007:
Can't really blame that on RBM. They just keep delivering high grade assay results.

Cheers.

MHO - DYOR


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## mick2006 (23 February 2007)

Looks like the Chinese have started restocking their copper supplies and with RBM being one of the most exciting junior copper explorers this can only draw more attention to the stock. With the next drill campaign starting shortly and with the price of copper rising strongly over the last couple of days any new discovery will send it to the races.
Remember RBM is already producing copper so any price increase is just more money in the bank for exploration.


The following was taken from bloomberg overnight

Copper Rises Most in Six Months on Chinese Demand Expectations 

By Brett Foley

Feb. 22 (Bloomberg) -- Copper rose the most in more than six months in London on speculation that demand from Chinese buyers will keep expanding. Lead advanced to a record and tin reached its highest in 17 years. 

Copper trading on the Shanghai Futures Exchange will resume on Feb. 26 after the weeklong Lunar New Year holiday. Chinese imports of copper and copper products jumped 44 percent in January from a year earlier, customs data showed Feb. 12. Chinese refined-copper imports in January were about 132,000 metric tons, almost double last year's average monthly imports of 69,000 tons, Macquarie Bank Ltd. said Feb. 19. 

``We expect to see, post the Chinese New Year, more activity by Chinese buyers in the copper market,'' said Daniel Brebner, an analyst at UBS AG in London. ``We do expect to see considerable strength in copper over the next quarter or so.'' 

Copper for delivery in three months on the LME advanced $280, or 4.8 percent, to $6,070 a metric ton as of 2:21 p.m. local time. The contract earlier rose as much as 5.4 percent, the biggest intraday gain since Aug. 4. Today's gain pared this year's losses to 4.1 percent. 

``The market is still expecting to see substantial restocking by the Chinese,'' said Andrew Silver, a trader with Natexis Commodity Markets Ltd., one of 11 companies trading on the floor of the London Metal Exchange.


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## mick2006 (24 February 2007)

For those of you that currently hold RBM you should go to the company website and have a good read of the recent in depth research report.

Some of the more important info is as follows:

-Valuation of 30.6c when using forward copper prices
-Cash flow positive this year
-Sandy Flat resource expected to be 2 to 3 times larger than already announced, not to mention the other breccia pipes yet to be explored
-Mt Kasi could hold several million ounces of gold
-Earnings of 2.8cps in FY08 which puts it a PE of only 5.5 at current share price for next years earnings
-No premium is added for the additional discoveries to come


When you put this all together the current share price of only 15.5c doesn't even value the company at its production value let alone any further copper or gold discoveries.
It may come under a little sp pressure from the short term traders but remember the big picture they are potentially sitting on several billion dollars of copper and gold. 
With the positive cashflow from this year the capital structure will be kept tight so when the shortminded sell out after the rights issue it will be a matter of time before the excess is mopped up and the sp will start heading north.
With the next drilling program to be much more detailed than previous ones there will be plenty of news to kept everyone interested heading into the second quarter. 
I remember reading around the start of the new year that a couple of brokers had named RBM as one of their Spec of the Year so as soon as we get into the next drilling campaign watchout!!

Remember DYOR


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## mick2006 (26 February 2007)

looks like the effect of the rights issue hasn't hit RBM as hard as first thought a little bit of a down day but not to bad.  I guess alot of the rights stock went to existing long term holders.
With copper production started and with expansion on the way it is good to see the current positive press regarding future copper prices, once the rights issue is digested it will be onwards and upwards.
With the company finalising the rights issue they have the funds for a major exploration push plus production expansion, should be an exciting couple of months as they have barely started exploring and are already sitting of $500+ million of copper and gold.
With such a small market cap it won't take long for the market and other companies to realise the value of RBM.
Also don't forget they have a high grade gold deposit in Fiji with exploration due to restart shortly.


The following is taken from Bloomberg Today

Shanghai Copper Rises Limit on Expectation of Demand From China 

By Helen Yuan

Feb. 26 (Bloomberg) -- Copper futures in Shanghai rose the daily limit of 4 percent to the highest in seven weeks as trading resumed after the week-long Lunar New Year holiday amid speculation of increased demand from China, the world's biggest user of the metal. 

Copper prices in London rose 8.5 percent to $6,306 a metric ton last week, the biggest weekly gain since July and New York prices had their largest increase since May as traders anticipated demand will increase when the Chinese market reopens and enters the peak annual consumption period. 

``Almost every year Shanghai prices surge when buying resumes after the week-long New Year holiday. The peak season is coming for copper consumption in building,'' said Cai Luoyi, head of research at China International Futures (Shanghai) Co., by phone. 

Copper for delivery in April on the Shanghai Futures Exchange rose 2,220 yuan to 57,720 yuan ($7,454) a ton, the highest since Jan. 4, after the market opened at 9:00 a.m. local time. The contract stayed at that level. 

London prices may rise this week, according to a Bloomberg survey last week. Of the 25 people surveyed, 21 forecast gains, three expected a drop and one saw little change. 

London Metal Exchange copper for delivery in three months rose 0.6 percent to $6,346 a ton at 9:48 a.m. Shanghai time


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## AJ_ (26 February 2007)

hi mick,

my dad and myself are shareholders of RBM, and he spoke to Gino last week and I believe that another drilling program will be starting soon.

AJ


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## mick2006 (26 February 2007)

Hey AJ,

I sent an email to Jerome Vitale tonight regarding development timeframe and exploration drilling, also I was trying to encourage him to release an updated company presentation including the companies view on the recently completed Redbank Copper Project drilling.

I think the company just needs to get the message out about how confident they are in regards to the exploration potential of Redbank, Jerome said as much on Boardroom Radio he just needs to let the rest of the market know by way of company presentation or institutional roadshow.

I am expecting an announcement soon in regards to the scoping study for the stage 2 expansion at Redbank, also the next round of drilling at Redbank (copper) and Mt Kasi (gold).

I can't remember where I read it but someone was saying that the same broker that was involved with CDU wants to champion RBM cause, I don't know if that is true but if it is we could see some fireworks shortly.

I will keep you guys informed with Jerome's response.


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## mick2006 (27 February 2007)

Good to see that the expected dump of rights issue stock didn't occur. It is also very positive that the rights issue was oversubscribed by 4 times and the shortfall issue was oversubscribed by 5 times. What that means is that the people who missed out or wanted more need to get it from the market and will slowly chew up the resistance heading forward.

As for the support level looks like people are happy to snap up anything around 15c, if this level holds it will mean another higher low after the retracement after the last announcement which is a positive sign going forward.

All we need now is the announcement of the next drilling campaign and the shareprice will get a nice kick along.

As for takeover speculation I would like to see a recent top 20 shareholder report or a change in substantial holding before I believe that it is being professionally bought up!

All in All am feeling more confident today in the fact the dumping of rights stock did not occur:


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## Atomic5 (27 February 2007)

mick2006 said:
			
		

> Hey AJ,
> 
> I sent an email to Jerome Vitale tonight regarding development timeframe and exploration drilling, also I was trying to encourage him to release an updated company presentation including the companies view on the recently completed Redbank Copper Project drilling.
> 
> ...




Agree. The silence is killing the share price.


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## mick2006 (28 February 2007)

Good to see RBM bounce of the previous support level at 13c with some nice volume being absorbed.  A bit of a recovery currently underway with a few larger buy orders at 13-13.5c, hopefully this level will hold and a push upwards will begin after the market correction has run its course.


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## mick2006 (1 March 2007)

Good to see it is now higher than before the sell off yesterday not sure how many stocks can boast that.  Also the sell side has been thining out over the last couple of days without exact numbers I would say around 2 million have been soaked up.  With the market implosion yesterday and the worry about the sell down of the rights issue stock RBM has stood up very well.

Now just awaiting news on the next drill campaign at Redbank (copper) and Mt Kasi (gold) and it should continue to press higher. 

Currently up 15% today!!


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## mick2006 (2 March 2007)

interesting price action developing today alot of support now above the intraday low on wednesday, 2.3 million buyers now above 12.5c.  With some serious buying going on between 15-15.5c.  Tried ringing the company to get some information about drilling going forward and was told no-one was available and that they were currently onsite at Redbank in the N.T, could this be the institutional roadshow that everyone has been hoping for?  If so it could explain the recent trend of short bursts of high volume.  If could be broker clients picking up chunks of the stock.


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## angela200172 (2 March 2007)

mick2006 said:
			
		

> interesting price action developing today alot of support now above the intraday low on wednesday, 2.3 million buyers now above 12.5c.  With some serious buying going on between 15-15.5c.  Tried ringing the company to get some information about drilling going forward and was told no-one was available and that they were currently onsite at Redbank in the N.T, could this be the institutional roadshow that everyone has been hoping for?  If so it could explain the recent trend of short bursts of high volume.  If could be broker clients picking up chunks of the stock.




At 1.38pm RBM SP up 2c 14%, the XAO still weak, but RBM looks very strong, well done, I belive an up trend starts from now. Good luck for us, RBM shareholders.


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## mick2006 (2 March 2007)

some very large buy order appearing out of nowhere, something is definately going on.  Good to see how RBM has shaken off the concern steming from the rights issue with an 87% take up it seems longer term holders got the bulk and a not going to give it up cheaply, also the concern with the large falls on global markets seems to have strengthened the buyers confidence not destroyed it.  I wouldn't know to many shares that would be higher than on the close of business on Tuesday.

All in All very encouraging signs, with a hint of mystery for the sudden interest!!


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## Atomic5 (20 March 2007)

Atomic5 said:
			
		

> I sent an email to Jerome Vitale tonight .....




Maybe you could send them an email again now suggesting they suspend the stock and call ASIC. The share price is being looted


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## megla (21 March 2007)

angela200172 said:
			
		

> I belive an up trend starts from now. Good luck for us, RBM shareholders.




And now what do you believe? 

I'm holding


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## Sean K (21 March 2007)

megla said:
			
		

> And now what do you believe?
> 
> I'm holding



 Good one. 

But why still hold? Looks to be just going down to me.   

I hope you holders get some good news soon, if that's what you're waiting for.....


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## Atomic5 (21 March 2007)

megla said:
			
		

> And now what do you believe?
> 
> I'm holding




I believe I recognise the old insider-trader price dump before announcement     - now 16cents

edit: ..... either more copper or inst. buying or both ??? no ann.


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## AJ_ (21 March 2007)

hi...

Any reasons for the large spike in price all of a sudden??

I think the recent sell down is due to the placement for insitutions...often do that to gte a lower weighted price.

I reckon drill results will be out soonish!

I'm really curious


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## Atomic5 (21 March 2007)

Im really very happy  

Many holders are curious as to the north west tendency of CDU's Rocklands. 
Pure speculation, but drill results for RBM have been very good so far.


----------



## Sean K (21 March 2007)

kennas said:
			
		

> Good one.
> 
> But why still hold? Looks to be just going down to me.
> 
> I hope you holders get some good news soon, if that's what you're waiting for.....



 Next day up 30%. Classic. Must be the ann that no one knows about to be released.


----------



## stiger (21 March 2007)

A few weeks ago there were alleged brokers crawling all over the rbm site.Any connection?Cheers


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## Atomic5 (23 March 2007)

yeah maybe they saw the core colour of the drill results OR they were just the auditors


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## AJ_ (16 April 2007)

touched 17 cents today... wont be long till results are out !  hope you are all still holding


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## AJ_ (15 May 2007)

start of drill results.. more to come !

15 May 2007
New Breccia Pipe: 64m at 2.5% Copper
from Surface; Sulphides at Depth
Redbank Mines Limited (ASX: “RBM”) is pleased to report
the initial results from RC drilling completed in April 2007 at
the historical Redbank prospect, henceforth called the
“Redbank Target Area”. Results have been received for
the first 4 holes as shown in Table 1. RC Hole RB07- 4
returned 64m at 2.5% copper from surface and logging of
diamond core from Hole RB07- 8 shows evidence of
sulphide mineralization from a vertical depth of 200
metres.
Table 1 also includes results from diamond core assays from
hole RDH 33 which returned 77 metres at 2.6% Cu from
surface. This hole was drilled in the 1970’s but has
previously not been reported by RBM due to uncertainty of
its collar position, now clarified by recent field work
completed by the Company.
The context and significance of results from hole RDH 33
and other historical holes that have been previously reported
by RBM, namely RDH 40 and RDH 44 which returned 30.5
metres at 2.4% Cu from surface and 24.5 metres at 2.3%
Cu from 6 metres respectively, are now apparent in terms of
the definition of a new breccia pipe at the Redbank Target
Area (refer Figures 1 and 2 and note 2 to Table 1).
The historical surface workings at the Redbank Target Area
are at the site of small scale very high grade near surface
mining activities carried out in the first half of the 20th
Century. A limited amount of shallow, mainly percussion
drilling was carried out in the vicinity of the old workings by a
subsidiary of Newmont in the 1970’s.
The objective of the March/April 2007 drilling carried out by
RBM was to test for depth extensions to the near surface
historical workings and to establish if they were the surface
expression of another deep seated copper mineralised
breccia pipe similar to the copper rich pipes at Sandy Flat
and Bluff. The Redbank Target Area is outside the current
JORC classified Mineral Resource inventory previously
published for the Redbank Copper Project of 4.23 million
tonnes at 1.5% Cu for 65,000 tonnes of contained tonnes
of copper (refer 2006 Annual report at page 6).
Redbank Mines Limited
ASX Announcement 15 May 2007 2
Core from Redbank drill hole RB07-8 at 280.7m down hole, showing brecciation, calcite veining
and sulphides, about 1.5 times magnification.
RB07-8 Tray 44 from 277.18-281.78 Showing extensive pipe style brecciation, calcite veining with
sulphides.
The assay results to date in conjunction with the drill hole logging by the Company’s geologists clearly
demonstrate that the surface workings at the Redbank prospect are the surface expression of a deep
seated mineralised breccia pipe. The attitude of the pipe dips steeply to the south and consequently was
just missed by RBM’s holes RB07-1, 2 and 3, but intersected by RB07-4 reported above (refer section at
Figure1). These results are consistent with the shallow 1970’s drilling.
A broad intersection of brecciation and associated sulphides is evident from examination of the deep
diamond core from hole RB07- 8 completed in April 2007. This suggests the mineralised breccia pipe
either becomes vertical or near vertical down at a vertical depth from 200 to 250m. Assays from this drill
hole and the remaining other 2 RC drill holes at the Redbank Target Area are still pending.
Redbank Mines Limited
ASX Announcement 15 May 2007 3
Further results from the Azurite (15 RC holes and 1 Diamond hole) and Punchbowl (3 RC Holes and One
Diamond hole) areas drilled in March/April 2007 are also pending. RC results are anticipated during the
course of the next 2-3 weeks and diamond core results expected shortly after.


----------



## Flipper15 (16 May 2007)

Hi guys

I have not posted much on this site but thought I would alert you to some new Aegis Equity reports on the RBM website.

Their new valuation is 33 cents and the new resource estimate for the Redbank Copper Project is due out in 6 -8 weeks.

I thought yesterdays results were very good and sooner or later this must be rerated.

Maybe the new resource estimate will be the trigger.

Flipper


----------



## AJ_ (22 May 2007)

Aegis Report valuing RBM at 33 cents . currently trading at 15 cents.

When will people wake up and realised that this is a good company to invest in ??

report here: *http://www.redbankmines.com.au/File/177/*


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## AJ_ (2 July 2007)

hello,

hae some information that a very good report is coming out in a few days...

dont' say i didnt warn you


----------



## Love Zn (3 July 2007)

Their June presentation has in at least three places that they are expecting drilling results in July, so not really anything new.
http://www.redbankmines.com.au/files/7zQ5rklN7EesMsNS.pdf

MACD starting to look good too.


----------



## steven1234 (3 July 2007)

I got in on this at 12c.  I can only see upside for the month of July with all the news scheduled.  

Once the news is anounced i would also expect the broker report to also be upgraded.  Lets hope with a larger resourse they attract more investors.


----------



## mick2006 (16 July 2007)

looks like a bit of interest is starting to build in RBM this morning, it is one that I have been holding for a while waiting for it to come good.

Has some very recent exciting copper drilling results, *with some more on the way shortly as well as a resource upgrade due on their Redbank Copper Projects, which are both due in July so sometime in the next two weeks.*

The only thing that has been holding this one back is the slow ramp up in copper production, but hopefully with the resource upgrade done they can focus on getting the production right.

Below is a link to an excellent recent presentation and a research report by Aegis Research valuing the company at 33c even before the upgrade on their copper project.

http://www.redbankmines.com.au/files/7zQ5rklN7EesMsNS.pdf

http://www.redbankmines.com.au/files/YJmcpbIqkuujoUko.pdf


----------



## Sean K (16 July 2007)

Breaking what I see to be most resistance at 15, but needs to hold EOD for new trend to start. Potential is there for re-rating by this chart. Downside limited to 12 cents, so not much risk in perspective for active traders with good exit plans.


----------



## mick2006 (16 July 2007)

thanks Kennas, I have been debating whether or not to grab a few more RBM as I believe the Resource Upgrade could be the catalyst for the next move higher.  

They are already sitting on $650 million in good grade copper deposits with a real possiblity that the upgrade could pust this past the $1 billion mark.

They have an off take agreement with *international commodity giant Glencore*, who is likely to finance the upgrade in the processing plant to accomodate the increase in production.

*What attracted me to them in the first place is the massive exploration potential as the Redbank tennements sit's half way between ZFX's Century Mine and McArthur River which is real mining elephant country.*


----------



## mick2006 (16 July 2007)

well I took the plunge today and added to my holdings in RBM, I like buying into companies that have short term news and longer term fundamentals at play.

For the short term they have the resource upgrade at Redbank and results from a couple of diamond drill holes which are both due before the end of July.

Remember also they are currently producing at a rate of around 1,000 tonnes a year copper, from existing stockpiles at redbank.

Longer term they have some serious exploration upside due to the quality/location of their tennements, and once they can upgrade their production to levels outlined by the company the market will have to sit up and take notice.

*Would be interested to hear peoples views on RBM whether holding or watching!!*


----------



## Love Zn (16 July 2007)

I bought into RBM a few weeks ago after reading their presentation and based on drilling results expected in July.  But I became impatient last week and sold at $0.14 taking a small profit, mainly after I was informed of the companies previous history (poor management) http://www.topstocks.com.au/asx_stoc...ost&pid=114948 and wanting to invest more into Iron Ore shares.

I bet the drilling results come out this week after I sold


----------



## surfingman (16 July 2007)

mick2006 said:


> I like buying into companies that have short term news and longer term fundamentals at play.




I'm with you along the same line of buying Mick, I brought in today looking at the 3 future target stages there is plenty of upside for this stock. Size of the Resource upgrade will be very interesting currently looking at a 5 to 7 year life span for the mine.

Stage 1: high grade oxide stockpiles, 1,000tpa Cu (Current)

Stage 2: Oxides from Bluff, Redbank, Azurite and other deposits, 3,000 tpa Cu, Revenue A$25- $30m pa (Q2 2008)

Stage 3: Sulphides initially from Sandy Flat and Bluff, production increased to 6,000 tpa, Cu Revenue A$50-$60mpa (Q4 2008)

Also with the possibility of dual production with the early stages of Gold project in Fiji aiming for initial 500 000 oz target.


----------



## AJ_ (16 July 2007)

mick, long term holder here. has been a frustrating ride, but i feel things are about to change for the better..  my friend who is the 2nd top shareholder, thinks along similar lines

the market depth is looking a lot better, and it appears that some good information is being anticipated... which IMO is a great sign.

ps love zn, you can still buy some RBM before the annoucment comes out


----------



## mick2006 (16 July 2007)

I guess the main reason I bought again today was the upcoming resource upgrade alot of stocks run pretty hard in the leadup and following a resource upgrade before taking a breather.

But after Kennas posted his chart analysis I realised there was a strong base forming above the 12.5c level so there is very little downside from here.  Also if it breaks the 15c level it might go on a bit of a run, with hopefully the resource upgrade and drilling results being the catalyst.

It reminds be alot of when YT first identified FNT it had formed a solid base and had upcoming drill results and a resource upgrade (and we know how that turned out)

I am becoming more of a momentum based trader getting into stocks that have upcoming news and solid fundamentals that when added together can cause a sharp re-rating over a short period.

RBM has proven in the past that it can certainly move hard on news and I am hoping this is once again going to be the case as the market has forgotten this one over the last month, but judging by the activity today looks like business is starting to pick up.


----------



## AJ_ (17 July 2007)

maybe we should alert YT to this one  since he has so kindly shared his analysis of many great stocks.


----------



## mick2006 (17 July 2007)

certainly will be an interesting day/week for RBM with it banging up against resistance at 15c (thanks Kennas), a spike in buying/volume yesterday and the upcoming drill results/resource upgrade/quarterly report, it will be one to keep an eye on in the coming days/week.

Another interesting point with RBM is the recent Aegis research report that values RBM at 33c they have appointed that value without the results of the upcoming resource upgrade, so one could assume that they will release an updated valuation once they know the extent of the upgrade, and as there are quite a few people that are members of shareanalysis.com it could create another round of buying in RBM.

Also contained in the report is the potential P/E ratings for 2008/2009 which certainly show if they can get there production right, they would be undervalued in comparision to other producers.

*P/E 2008    7.2
P/E 2009    3.9*


----------



## motion (17 July 2007)

Great work guys, this one has been on my list in the draw for a while..

Well gone into Suspened mode this morning... Must be some big news coming out.. Lucky to the people who got into yesterday....

I must have missed the Aegis report.. was this through the commsec sub or direct with Aegis mick ?

Thanks


----------



## mick2006 (17 July 2007)

knowing my luck it will be a capital raising or something, but what i'm hoping for is a blockbuster resource upgrade or confirmation from the two deep diamond drill holes that there is something enormous under all the surface brecia pipes, and if that is the case watch all the big boys join in the party.


----------



## Pommiegranite (17 July 2007)

mick2006 said:


> knowing my luck it will be a capital raising or something, but what i'm hoping for is a blockbuster resource upgrade or confirmation from the two deep diamond drill holes that there is something enormous under all the surface brecia pipes, and if that is the case watch all the big boys join in the party.




Good luck to all.

Unfortunately I missed the boat on this, as I was waiting for a sell order to clear since yesterday before I could buy.

I did carry out some research on this stock and wanted in mainly as RBM is a producer. Okay, it may be small at the moment, but at least it is getting some return on investment rather than 3 years in the future like much of my portfolio!

Also is a part of Martin Place portfolio..so can't be that bad


----------



## Sean K (17 July 2007)

mick2006 said:


> knowing my luck it will be a capital raising or something, but what i'm hoping for is a blockbuster resource upgrade or confirmation from the two deep diamond drill holes that there is something enormous under all the surface brecia pipes, and if that is the case watch all the big boys join in the party.



Capital raising I think. They only had 180K in the bank at the end of the last quarter by my records. So, inevitable occurrance, but dilution is rarely treated as a positive. Unless you follow BMN or ECH. Could be significant results I suppose, but less likely.


----------



## surfingman (17 July 2007)

kennas said:


> Capital raising I think. They only had 180K in the bank at the end of the last quarter by my records. So, inevitable occurrance, but dilution is rarely treated as a positive. Unless you follow BMN or ECH. Could be significant results I suppose, but less likely.




But they did announce yesterday that $300,000 cash + $200,000 in shares will be received by September for the sale of Gold leases. 

Hoping its a resource upgrade!!!!


----------



## mick2006 (17 July 2007)

hey kennas, I get that dreaded feeling too I would of thought they would of waited till the release of the resource upgrade so they would of got a better deal for the placement.

Although they raised $480k late may and announced yesterday a deal that will net them $500k so the optimist in me hopes it is exploration related not capital raising related.

Or even better with so many takeovers in the resource space maybe someone feels that RBM is ripe for the picking (I can dream can't I)


----------



## Sean K (17 July 2007)

surfingman said:


> But they did announce yesterday that $300,000 cash + $200,000 in shares will be received by September for the sale of Gold leases.
> 
> Hoping its a resource upgrade!!!!



Yep, but they're spending about $1-1.5m a quarter, so they need a top up even with this. If this ann isn't about a capital raising they will need to soon.


----------



## surfingman (17 July 2007)

kennas said:


> Yep, but they're spending about $1-1.5m a quarter, so they need a top up even with this. If this ann isn't about a capital raising they will need to soon.




Thanks Kennas I agree they need funding, I had a look at cash flow report yesterday and took a punt they would be carried over the line to the upgrade...

If it's fund raising it would be very interesting to see if they try for Stage 2 financing in the one placement.


----------



## Flipper15 (17 July 2007)

They did a placement of 3 mill shares @ 16 cents on the 31/5/07 for $480,000 and with monies coming in from sales to Glencore it is unlikely in my view to be a capital raising. They have not done any drilling since this placement so they must still have some funds left, unless the $480K was used to pay for the Mar/Apr drilling campaign.

Also the 31/5/07 announcement was not preceded with a trading halt. So if it was a capital raising it must be a big one.

We are all guessing but I think it is most likely that it is the JORC resource upgrade we have been waiting for.

The other possibility is great results from those 2 diamond holes.

I don't recall them ever going for a trading halt prior to the release of drilling results and they have had some good ones this year. So I believe it can only be the upgrade or abnormally great drilling results.

Hopefully we can break through 20 cents and stay there.

Flipper


----------



## mick2006 (17 July 2007)

after going back over recent company announcements I am more confident that it won't be a capital raising, it will be a funding arrangement with Glencore International (massive commodity trading company).  I refer to the announcement by RBM on the 13/06/07, in which it discusses the fast tracking of increased copper production.

If it is a funding package instead of a capital raising (so no share dilution) I think the market will see this as a positive as it shows the company is serious about getting the increase in production happening.

http://www.redbankmines.com.au/files/rVtRth5CRUhvf6It.pdf


----------



## Sean K (17 July 2007)

mick2006 said:


> If it is a funding package instead of a capital raising (so no share dilution) I think the market will see this as a positive as it shows the company is serious about getting the increase in production happening.
> 
> http://www.redbankmines.com.au/files/rVtRth5CRUhvf6It.pdf



Yes, absolutely agree with this. Not so much about been serious, but that they have support from some players with $$, who see the potential. That would be a good sign and support them somewhat.


----------



## mick2006 (17 July 2007)

hey kennas, taking it one step further and trying to read between the lines, the last couple of presentations by Gino Vitale MD of RBM, he has constantly been talking up the relationship with Glencore.

I believe the trading halt will result in one big announcement outlining the funding package with Glencore, the updated resource statement for the Redbank project area, and finally the decision to upgrade the plant/copper production.  This would be a major boost for the credability of RBM.

Also you may ask what Glencore is getting out of the deal, they are getting their foot in the door to what many people are speculating,and that is the massive sulphide copper deposit that lies beneath the current Redbank project area.

And if RBM can get a funding package of say $10-15 million not only can they increase production they can also start drilling those deeper holes to see exactly what lies below the brecia pipes in the Redbank Area.


----------



## mick2006 (17 July 2007)

guys check the quarterly cashflow report on the 30/4/07 and look at the info contained about cash injection after the completion of the quarter.

it states the company received $690,000 in April as sales from Glencore and Tax refund from the ATO, and they also state that the Redbank Project will be cash flow positive in the June Quarter.

So add the $690k to the $480k raised during the current quarter and the $500k in cash and shares received for the sale of their gold tennements, that puts them in a much better financial position.

I still get the feeling it won't be a capital raising (at least I hope not)

http://www.redbankmines.com.au/files/oddDFA8WRORN9Kev.pdf


----------



## surfingman (17 July 2007)

mick2006 said:


> I believe the trading halt will result in one big announcement outlining the funding package with Glencore, the updated resource statement for the Redbank project area, and finally the decision to upgrade the plant/copper production.




I have come to the conclusion it will be the resource upgrade at minimum, or the above is also possible but they would do this over a few announcements for most effect on market. 

They are currently producing 1 000 Tpa could the announcement could also incorporate first payment information.


----------



## Flipper15 (18 July 2007)

On reflection it is unlikely to be the resource upgrade or drilling results.

You guys are right, it is likely to be some sort of corporate activity re funding of projects etc.

Nonetheless it should show the market of their focus on getting the Redbank Copper Project moving as quickly as possible into Stages 2 and 3.

Good luck to all.

Flipper


----------



## powerkoala (18 July 2007)

ann out
trading halt lifted
jorc and resource upgrade just like what we have been waiting for
now let see whether 20c barrier will break today


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## motion (18 July 2007)

I like how they did the Media Release straight after the ann great work by management... This is just the start of more great news to come.... with them ann Redback Accelerates  production strategy... Excellent work.. lets see how the market takes this..


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## mick2006 (18 July 2007)

at least it wasn't a capital raising, I took profits on open a bit dissapointed by the size of the upgrade, but will watch closely to re-enter when they finalise plans for the upgrade in production.

Will be interesting to see the quarterly report in regards the cashflow from current production. If they have managed to make the production cashflow positive which will limit the need for capital raising.


----------



## Sean K (18 July 2007)

mick2006 said:


> at least it wasn't a capital raising, I took profits on open a bit dissapointed by the size of the upgrade, but will watch closely to re-enter when they finalise plans for the upgrade in production.
> 
> Will be interesting to see the quarterly report in regards the cashflow from current production. If they have managed to make the production cashflow positive which will limit the need for capital raising.



Yes, this was much more positive, but they will need more money shortly as has been analysed here. Failed breakout through 15 so still sliding sideways......


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## AJ_ (18 July 2007)

dang, market reaction was not good at all.... ohwell, still holding 

I guess it takes a bit to impress the market


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## fgzq88 (20 July 2007)

71,000 tonnes copper = US$560M 
capital size = A$20M

2.3 million tonnes or 45% of the revised mineral resource is
contained in the top 100 metres from surface, accessible
through open cut mining;
means low cost production

any thoughts?


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## powerkoala (21 July 2007)

it is quite a good news, but i thinks market consider 20% resource upgrade is quite low ?
perhaps we will see some action after market revalue RBM. 
i like the idea of open pit though, soon they will produce cash.
maybe then, some bigger companies are considering to take over RBM ?


----------



## motion (25 July 2007)

Hey guys, 

I just wanted to ask people what they think of the ann LinQ Resource Fund acquires 5.7 percent interest in Redbank. 

I'm not sure what to make of this.. Is it a good or bad things for RBM... 

Thank you for your thoughts.


----------



## mick2006 (25 July 2007)

hey motion the most important thing for RBM at the moment is whether the Redbank Project has become cashflow positive.  If it has the market will be more comfortable about the company and that they won't need to keep raising capital.  So pay close attention to the upcoming quarterly report.

As for the equity stake it gives the company much needed funds to get the upgrade at Redbank started.  A little dissapointed with the issue price of 11.5c.  

There is no doubt about the explorational upside to RBM it just seems until they can get the production sorted out the market won't value it compared to its peers.

Saying that at 12c the company is starting to look very attractive for some short term gains.


----------



## motion (25 July 2007)

mick2006 said:


> hey motion the most important thing for RBM at the moment is whether the Redbank Project has become cashflow positive.  If it has the market will be more comfortable about the company and that they won't need to keep raising capital.  So pay close attention to the upcoming quarterly report.
> 
> As for the equity stake it gives the company much needed funds to get the upgrade at Redbank started.  A little dissapointed with the issue price of 11.5c.
> 
> ...





G'day Mick, 

Thank you for taking the time to reply to my post. I will keep a watch out for the cash flow report over the next couple of days. Yes I agree the 11.5c issue price is not the best for current share holders.

I also agree that at 12c you can make some good short gains given the right market. 

Thank you again for your comments I will be keeping an eye on the comming events.


----------



## Flipper15 (25 July 2007)

motion, although it is a good thing to have the new investors on board I like a level playing field.

In my view this is not happening here. Like someone has said, the investor who took a placement of 3mill @ 16 cents wouldn't be happy.

Okay the share price is lower than then but my memory is that this last placement was made when the share price was at 15 cents. So they got more then.

So why quite a bit lower this time and why do they need the money.

Today's announcement should have had much greater detail as to what the money is to be used for such as is done in prospectuses.

The new investors is by itself a great thing as they obviously want to make money for their funds/stakeholders. But to me the psychological impact of the lower price is not good. It should have been 14 or 15 cents.

If these sophisticated investors want the stock then they will pay more than the current share price.

After all we all know the share price is way under what it should be.

If lower prices are being offered then everyone should be offered it, not a select few.

Mick2006, you have hit the nail on the head. Until they get the production up then they won't get the market on side. Very good point and it probably tells the whole story here.

I hope they are working for all shareholders. They don't help their cause by not communicating fully their reasons why they do this.

With my estimate of $400K per month from the stockpiles there should be plenty of money going around.

As you say it is time to watch the quarterly closely re these production targets.

Flipper


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## steven1234 (3 August 2007)

The difference in price and value is amusing at times.  

Aegis valued RBM at 33c back in April.  Good news since then and the price is at 12c today, lower than the price prior to the recent good news.  Regardless of the current market climate, the market does not look favourably on RBM.  Lets hope this changes at some stage.


----------



## greenfs (9 August 2007)

I am starting to think this may become a takeover target if this is not already the case. There certainly seems to be hidden value, but this would become even moreso is the sp continues a downward trend.


----------



## Mr Right (14 August 2007)

greenfs said:


> I am starting to think this may become a takeover target if this is not already the case. There certainly seems to be hidden value, but this would become even moreso is the sp continues a downward trend.





Hi folks,

I will share a bit of information of what is happening with RedBank.

The compony is accelarating the start up of the flotation plant and that is why they needed the money urgently and issued the shares at 11.5 c. They are not far from buying a second hand mill to support the processing of 500,000 tonnes of ore per annum. The mill will cost around $800,000. I am talking about the processing of the sulfides. The capital cost to refurbish the flotation plant will be in the range of $7,000.000 to $10,000,000.

The heap leach operations are very close to a start up apperantly the crushing circuit is not far from being commisioned. They are waiting on the enviromental approval as well.

I think the share value is quite atractive right now.

Cheers


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## camaybay (4 November 2007)

Not much in the share price since the euphoria about 12 mths ago, little interest (vol) around 0.10

Excerpt from the Sept quarter report 2007 :


 The Company anticipates deriving an operating surplus from copper production at the Redbank
Copper Mine during the December 2007 quarter. The anticipated operating surplus is expected to
make a positive contribution to the Company’s working capital requirements. In addition the
*Company also plans to complete an equity based issue during the December quarter to provide
funds *to complete a Definitive Feasibility Study at the Redbank Copper Project and to provide
funds for exploration activities.

Options		
(description andconversion factor)	Expiry date	Exercise price
7,894,737	28 Feb 2008	$0.38
250,000	28 Feb 2010	$0.38
250,000	28 Feb 2010	$0.50
250,000	28 Feb 2010	$0.60
38,115,864	31 May 2008	$0.28
4,000,000	20 Dec 2008	$0.09


Apart from Glencore 4m @ 0.09, I don't see any joy for the other 2008 options, for RBM

Diligently working towards a return for holders.

I have not see any details released of the offer. 

Cheers

DYOR


----------



## YOUNG_TRADER (13 November 2007)

Well I have been waiting to see what RBM would come out with in regards to their copper project and here it is,

production of 6,300 tonnes per annum
revenue based on resources in the top 100 metres alone
of over $196 million, and
*EBITDA of $56 million over 5 years, with average project
annual EBITDA of $11.2 million.
NPV(8%) is $22.0m and IRR is 58.0%.*


RBM has 130m shares on issue, so at 10c its mkt cap is $13m, 



I have always viewed RBM as an exploration play, but maybe just maybe this may make it a producer/explorer


What do people think?


----------



## rico01 (13 November 2007)

YOUNG_TRADER said:


> Well I have been waiting to see what RBM would come out with in regards to their copper project and here it is,
> 
> production of 6,300 tonnes per annum
> revenue based on resources in the top 100 metres alone
> ...




With EBITDA of $11.2 mill for 5 years, that would make it look a little undervalued wouldn't you say?
  Can anybody give this a realistic value on these latest figures. would be interested to hear any thoughts


----------



## dj_420 (14 November 2007)

RBM ann that yesterdays figures were incorrect and it understated value, here are correct figures

31,500 tonnes of copper over 5 years, with average copper production of 6,300 tonnes per annum

Revenue based on resources in the top 100 metres alone of over $196 million, and

EBITDA of $60 million over 5 years, with average project annual EBITDA of $12.0 million.

NPV(8%) is $25.0m and IRR is 72.5%.


Starting to look even better for a company with 12 million market cap.


----------



## Pat (14 November 2007)

They certainly do look good, and with there claims to fast track production this explorer seems to be moving to a producer. I wonder why the market hasn't caught on to this . Or is RBM a dud? Or are there too many burnt fingers from its run to 30 cents?


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## steven1234 (3 December 2007)

A strong increase in volume today.  Maybe something is brewing.  Maybe its just bargain hunter taking advantage of the price at such low levels.  Surely it can remain near 8c.


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## So_Cynical (4 December 2007)

Pat said:


> Or are there too many burnt fingers from its run to 30 cents?



That seems to be the case...the chart just dont look pretty.

I wonder how many company's come back from a big high to a low like now.

8 cents seems great value.


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## steven1234 (4 December 2007)

steven1234 said:


> A strong increase in volume today.  Maybe something is brewing.  Maybe its just bargain hunter taking advantage of the price at such low levels.  Surely it can remain near 8c.




Sorry, meant to say "Surely it can't remain near 8c for long"

Where are you guys getting 30c from.  I can't see it hitting 23c on my charts in the last 2 years.  30c was a long time ago.


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## YOUNG_TRADER (4 December 2007)

RBM has just announced a JV for exploration with large global commodities trader *Glencore*,

The exploration covers a very large area over 800km² that is close to RBM's main Rebbank CU deposit/mining operation


The thing is RBM is cheap, its very very cheap,

It has shown via studies that its Redbank project has

*NPV of 20c 

EBITDA of 45c

vs a current SP of 9c!*

An exploration company with RBM's projects and a JV with Glencore would carry a MKT cap of at least $15m vs RBM's current mkt cap of under $10m


I have watched RBM for awhile but am no jumping on board as it is a seriously undervalued COPPER PRODUCER, with also a good exploration focus


More research to come shortly


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## YOUNG_TRADER (4 December 2007)

The company has 130m shares on issue

So with an *NPV of $25m = 20c*

So I can happily put a valuation of 20c on RBM based on Redbank alone (lol not much work on my part required)



What has me really puzzled is why would Glencore, a huge global commodities trader that owns a large % of Xstrata want a JV with RBM???????



This is a link for info on Glencore
http://en.wikipedia.org/wiki/Glencore


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## rico01 (4 December 2007)

What has me really puzzled is why would Glencore, a huge global commodities trader that owns a large % of Xstrata want a JV with RBM???????


  I think RBM have real prospects in the current area and also they have a treatment plant  they are refurbishing that could be utilised by glencore .As the joint venture is only 10 kms from the RBM treatment there would be huge costsavings


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## adobee (4 December 2007)

I have a mate at Glencore .. Glencore doesnt muck around they are big timers ... If they are doing something they are making money !


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## steven1234 (4 December 2007)

Maybe Glencore wants to size them up to take them over?  

The gold resource at Fiji is currently not valued into the shareprice and RBM was considering spinning it off.  It looks like they are planning to drill to add some value to it to make it look better to investors.   

If it stays at this level for long i expect someone to take a stab at RBM, and this someone will most likley be Glencore.  Wasn't the NPV only based on the top 100m of copper, not anything under 200m, not the source of the pipes, or the project in Fiji...    

For what its worth the Agis report valued this at 33c in May 07.


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## adobee (8 January 2008)

8 January 2008
Copper and Cobalt Breccia Pipe Confirmed at
Copperado, Redbank/Glencore JV
Field reconnaissance work completed by Redbank Mines
Limited on the Redbank /Glencore Joint Venture, to be
known as the Copperado Joint Venture, has confirmed the
presence of a copper and cobalt mineralised breccia pipe
similar in scale to the larger pipes of the Redbank area (C1
Pipe, Figure 1). Field analyses with a Niton XRF analyser
found 0.3 to 0.8% copper widespread in surface material in
and around the pipe and a small high grade vein of copper
mineralisation with 18% copper (Table 1).
The analyses also found anomalous levels of zinc, lead and
cobalt in some samples. A 2% cobalt analysis was
associated with a 0.8% copper value. The occurrence of a
copper bearing breccia pipe in the JV area indicates that it
has been subject to mineralising processes similar to those
that formed the nearby Redbank copper pipes.


First announcement since there Glencore JV hopefully will bring some interest..


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## adobee (10 January 2008)

New Volcanic Pipe; 16 Additional Anomalies
and Soils Results Indicate Major Copper
Mineralisation System at Depth at Redbank
Summary
Soil geochemistry results from ERL 94 (100% RBM) identify:
Ã˜Ã˜ new volcanic pipe, Kerslake
Ã˜Ã˜ 16 new substantial anomalies bringing total anomalies for
further investigation and drilling to 21
Ã˜Ã˜ broad areas of alteration and copper anomalism
consistent with a laterally extensive mineralisation source
at depth
Ã˜Ã˜ Pipes to be tested in forthcoming drilling programme

LOOKING POSITIVE


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## exgeo (14 February 2008)

Share purchase plan closure date has been extended to the end of Feb. Offer price 8c, current sp., less than 8c. Only 300k in cash as of the last qtly. If they could get some money, looks like a fair project though.


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## sup3rK0ala (7 April 2008)

UP 130%,A lot of vol accumulating with the following announcement.

Spectacular near surface copper grades at Redbank

As part of the Redbank Oxide Copper Project expansion definitive feasibility study (DFS) resource infill and definition drilling is being carried out on the
Bluff, Azurite and Redbank deposits. This will enable detailed pit planning and mine scheduling to be completed. Interim results from this programme for
Azurite were announced on the 3rd of April.
Subsequently infill drilling has been completed at the nearby Redbank Deposit. The drilling has encountered a number of very high grade copper intercepts in near surface oxide mineralisation, including 29m at 7.7% copper and 24m at 4.54% copper. The field programme has also located the source breccia pipe for the Redbank mineralisation.


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## YOUNG_TRADER (7 April 2008)

Glad I did some avg down buying around 3c, was able to bring avg buy from 10c down to 5c,

Showing a healthy profit now lol, finally, lol

Will take some profits as I think alot of traders are on this

Value was always there, pity I didn't miss it and see it a few months later, then my avg would be 3c, oh well tis the game we play


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## powerkoala (7 April 2008)

YOUNG_TRADER said:


> Glad I did some avg down buying around 3c, was able to bring avg buy from 10c down to 5c,
> 
> Showing a healthy profit now lol, finally, lol
> 
> ...




YT, how are you considering about RBM now after this fantastic news?
watching today's price action, bringing back to 7c area. looks like market price it more than the SPP before. 
Considering glencore took most of the SPP with extra options, will this still have place to run up high?
good luck all holders.


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## rico01 (20 May 2008)

Looks like RBM is getting a little interest after the presentations on boardroom radio. they are saying EBITDA of 7.6CPS for the next 5 years 
   For a share trading @ 4 cents Extreme value IMHO! 
The feasability study is only based on the top 100metres and the the deposit is known to go down at least 300metres


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## steven1234 (26 May 2008)

There appears to be much negative sentiment with this stock.  Management is trying hard to get the price to rise, but the market keeps punishing RMB.     

If you listen to the presentation from 20/05/08 it is announced that drill hole results are due this week (@26min.10sec). Surely this must create some interest.  

We have also had a positve announcement today in relation to the Glencore JV area, but the markets response is minimal. 

It looks like the only thing that will get this to rise is RBM finding the source of the copper in the pipes.


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## countryboy (27 May 2008)

your right about negative vibes,read "buyer beware" on the RBM  thread on the Topstocks site. Directors and their previous links are given a pounding. Im glad i read the thread. i will reconsider taking a position in RBM.

anyone think the company has changed ??


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## steven1234 (28 May 2008)

Trading Halt announced.  

Countryboy, I hope there is not much to the rumours.  If there were, i would expect the sentiment would be far worse and the company (and share price) would suffered and RBM would have been taken over because of this.  Fundamentally the company looks good and the project robust.

Lets see what the trading halt brings us.


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## fgzq88 (28 May 2008)

Any thoughts about today's ann?

37m at 8.4% Cu from 5m, including 10m at 20.67% Cu
- Hole RB08-14;
35m at 3.92% Cu from 6m, including 8m at 12.8% Cu -
Hole RB08-13;
23m at 3.39% Cu from surface including 10m at 6.01%
Cu - Hole RB08-10;
13m at 4.09% Cu from 8m including 3m at 9.55% Cu -
Hole AZ08-28 and
12m at 4.42% Cu from 3m – Hole AZ08-22


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## steven1234 (28 May 2008)

Its all adding to the resource of RBM.  

We have more assay results due next week. 

Hopefully it gains a little more interest now.


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## rico01 (25 June 2008)

A new company covering RBM have given a valuation of 25c in the next 24 -48 months . thats from 4c- 25 even in4 years is more than 100% a year. 
  the report is available on the RBM website


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## steven1234 (27 July 2008)

We may get some news soon, in relation to the JV area the company was undertaking an 11000-km fixed wing airborne magnetic and radiometric survey; results are expected in late July 2008.


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## explod (15 July 2009)

May be an announcement is close at hand.   Have had a few of these for many years as residue from a failed company.   

Large volume for a few days and the price is up 15% today on increasing volume.


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## explod (16 July 2009)

> 15 July 2009
> The Manager
> Companies Announcements Office
> Australian Stock Exchange Limited
> ...




Would it be appropriate to start a new thread or rename this one Joe?

Cheers explod...


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## sunslush (20 July 2009)

can any one explain to me why RCP (RBM) when up so quickly? today it closed at 0.029c up 16% again.  it jumped more than 100% from last week onwards. i cant really find any significant new that can lead this share to rebound that much.


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## sidious (20 July 2009)

RBM which is now RCP is rising so quickly. I'd like to buy but with the sudden rise, I feel that I'll be the sucker who bought at the top. I'll see the action tomorrow. Sudden rise can mean sudden drop as well especially if the news is out.


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## Joe Blow (20 July 2009)

Redbank Mines (RBM) is now known as Redbank Copper (RCP). Please see the RCP thread for continued discussion of this company: https://www.aussiestockforums.com/forums/showthread.php?t=16395

This thread has now been closed.


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