# REY - Rey Resources



## Ants (10 May 2006)

Anyone have any interest in this lot??
Input appreciated
They have found a large seem of coal in W.A.

ASX Code REY 
Company Name Rey Resources Limited 
Company Website www.reyresources.com 
Offer Open Date 04 Apr 2006 
Offer Close Date 16 May 2006 
List Date 29/05/2006 
Issue Price 0.25 
Offer Proceeds 10,000,000 
Market Cap. At Issue 23,320,238 
Percentage of Shares Issued 0.0 
Underwriter The offer is not under written. 
Underwriter Telephone -- 
Underwriter Website -- 
Min. Application No. Shares 8000 

REY RESOURCES SECURES AGREEMENT WITH INDIA’S LARGEST INDEPENDENT COKE PRODUCER

Rey Resources and India's Gujarat NRE Coke Ltd today announced a deal which will see $1.9 million invested by the country's largest independent coke producer.


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## GRTRADER (23 January 2007)

They were in the top movers today 

Is there something up with this share or is it just that it has levelled out and is now a good buy?


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## YOUNG_TRADER (26 July 2007)

Have been watching this one for awhile, they're looking for Copper in Chile,

Results from drilling are due out soon, or maybe even overdue,

Has been ticking up on light volume

Stock way to spec to warrant analysis


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## dumpty (26 July 2007)

I have been told that REY is worth watching.....been bouncing around since Jan-Feb.

YT I did not want to inflate your ego by posting over at CUL or RMI but i took some profits today and thought of you as I did so.......There are a few who challenged you here and at HC but as they say "money talks and BS walks" 

Also another reason for coming to this link (besides sniffing around to see what elase you are eying off) is to mention IRM 

They appear to be sustaining a flat ( to say the least ) market OK

Dumpty


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## Trader Paul (18 November 2007)

Hi folks,

REY ... insiders (directors) have been 
increasing their holdings, with on-market 
buying ... positive cycle expected,
around 20112007, too ... 

happy days

  paul



=====


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## Trader Paul (21 November 2007)

Trader Paul said:


> Hi folks,
> 
> REY ... insiders (directors) have been
> increasing their holdings, with on-market
> ...




 

Hi folks,

REY ..... lift-off comes in right on time ... up more than 50%,
on an overall negative day for the markets ... 

... and not another post for the previous 4 months ... !~!

Gotta love this astrostuff ..... 

happy days

  paul



=====


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## Bushman (21 November 2007)

Very adept Trader Paul. I am very impressed. Well a 40%+ sp appreciation made me take notice of this one. 

The Directors have been buying up again of late. See ann 19 November. Also 24m options are excercisable at 20c on 31/12/2007. So the push must be on to get these to expire in the money.A quick read of the MD announcement shows they are changing direction to focus solely on coal in the Pilbarra. They mention a potential coal resource of 1b tonne that was passed over by BHP as not being exportable. I would presume this was because of the high ash content. However the tenements apparently have a southern extension that is prospective for exportable coal. 

Speculative at the moment as drilling is not likely to commence until the end of the next wet season. Low on cash and need the oppies to be excercised. Otherwise there will need to be a capital raising.

There is an interesting article on the website (from the Broome Times would you believe) that quotes the WA Minister for Mines supporting a conceptual thermal coking mine in the Pilbarra. However the minister had not realised anyone was actually exploring for coal. Ha ha. 

Will keep an eye on it. If they truely firm up 1b tonne of export grade coking coal then this will be a monster given its low market cap. By the way Gujarat think it is a possibility given their 10%+ shareholding in the company.


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## SevenFX (27 November 2007)

REY still running nicely. UP 30% (26c)

However held very tightly today and very low volume, but no spread atm.

SevenFX


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## YOUNG_TRADER (27 November 2007)

YOUNG_TRADER said:


> Have been watching this one for awhile, they're looking for Copper in Chile,
> 
> Results from drilling are due out soon, or maybe even overdue,
> 
> ...




Well they do now have plans to spin off the Chile Copper projects which in an seperate IPO perhaps listed on the TSX will get better value recognition

Then there's also the 1Billion T coal target

I remember reading somewhere that theres an SPP supposed to happen soon, or it may have benn bonus options


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## SevenFX (27 November 2007)

SevenFX said:


> REY still running nicely. UP 30% (26c)
> 
> However held very tightly today and very low volume, but no spread atm.
> 
> SevenFX




Up 30% *Down 40%* from the High & below Opening Price...

This is the problem with no volume, Price Action can be extreme Highs & *Lows*

Volume 782000 for the day.


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## maxludo (1 February 2008)

Drilling contract was announced just last month. Only to reaffirm what they already know, that they ARE sitting on a 1Bt resource and acquiring more land. 
;No chances of it being coking coal but with energy demand growing around the world, thermal coal is still mighty valuable. Keep watching...


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## unit (25 May 2008)

lagging a bit behind the others but worth a look,
another one with UCG potential...

Market cap: $27million
Drilling about to commence.
JORC towards the end of the year.

http://www.reyresources.com/
Overview of Rey's Interests  
Rey completed its initial public offering raising approximately $ 3.3 million to list on the ASX on 5 June 2006. Gujarat NRE Coke Limited is a substantial shareholder. 
Rey is a mineral exploration company holding coal, oil and gas tenement covering large areas in Western Australia and prospective copper and gold tenements in Chile and Peru. 
All of Rey's properties are 100% owned, and in the opinion of Directors offer good potential for medium to large scale economic deposits. 

Investor presentation March 2008
http://www.reyresources.com/downloads/rey_mar_08.pdf

Page 6
Canning Basin – great opportunity
HUGE coal deposit
• >1 billion tonnes thermal, moderate - high ash
near term potential
• 2 areas identified for early resource potential: open
pit and underground
longer term potential
• multi mine basin
• thin seam longwall
• shallow open cut
• UCG
petroleum leases farmed out

Page 9
Canning well located to supply new
growing market
• well sited for Indian market
• four days closer than Queensland
• Derby port considering expansion
• 150km from Derby

Announcement 24/4/2008

Clearance received for 4,000m of drilling at Liveringa coal project
Rey Resources Limited (ASX:REY) announced it has received clearances, covering both Government and
Native Title approvals, enabling drilling to commence at its Liveringa thermal coal project in the West
Kimberleys, West Australia.
The clearances have been received on the first 4,000m of the company’s 2008 drill program which totals
approximately 20,000 metres. Site preparation work is currently underway.
Drills are now being mobilised and drilling is expected to commence during May, subject to ground
conditions drying sufficiently, and a permit to access groundwater.
In mid-April the additional areas required to complete the drill programme, were subjected to heritage
clearance surveys visits with the Traditional Owners of the Nyikina Mangala people, whose lands in the
Kimberley Region are partly covered by Rey’s coal exploration licenses.
All Heritage clearance protocols were followed and the Traditional Owners have approved all of the remaining
drilling sites in the 2008 programme. Final government permits are currently being sought for these additional
areas.
The aim of the drill programme is to obtain an initial JORC resource of thermal coal by the end of 2008 or
early in 2009. The initial drilling will target those coal deposits previously delineated by Premier Mining in
the 1960’s.

Annoucement 23/5/2008
Despatch of Extraordinary General Meeting (EGM) Notice and Proxy Forms
Rey Resources Limited is today despatching to shareholders the notice of the 2008 Extraordinary General Meeting
(EGM) to be held on Monday 23 June 2008 at 11.00 am at Level 26, 52 Martin Place, Sydney NSW, together with
the meeting Proxy Form.
The Company has called this EGM to:
- Ratify the Placement of 10 million ordinary shares with an attaching option for nil consideration for every two
shares subscribed;
- Authorise the Issue of Further Shares; and
- Confirm the Issue of a total of 4 million options only to the Managing Director.


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## happytown (1 June 2009)

ann out regarding a resource upgrade at its wa canning basin coal project as follows



> ...
> 
> total Indicated Resource upgraded 51% to 144 million tonnes thermal coal
> 
> ...



there has been an increase in the indicated and inferred categories since the march resource update

the pfs is aiming for 



> ...
> 
> an initial open pit operation of approximately 2Mtpa coal that can be exported via the port of Derby with production commencing in 2012. The study is due for completion by the end of 2009
> 
> ...



sp currently up 10% on minor volume

cheers


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## YOUNG_TRADER (4 June 2009)

Hmmmmm looks like Gurjat NRE are trying to steal REY from Australian Investors for a song

9c a share is an insult it really really is 

This company has 500Mts of coal and possibly up to 1Billion Tonnes I say 20c per share at least and a nominal 1c per option (even though there 30c options) is fair

I've bough some opies today at 0.002 as a high risk punt on this happening

The directors hold over 10M of the 30M options between them, Im sure they will also want some nominal value given to them


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## happytown (4 June 2009)

YOUNG_TRADER said:


> ...
> 
> This company has 500Mts of coal and possibly up to 1Billion Tonnes I say 20c per share at least and a nominal 1c per option (even though there 30c options) is fair
> 
> ...




agree entirely YT, lo-ball offer, directors have not been tempted at this price, advising s/holders take no action, gujurat director (gujurat chairman) on board resigns (obviously the t/o offer necessitated this)



YOUNG_TRADER said:


> ...
> 
> I've bough some opies today at 0.002 as a high risk punt on this happening
> 
> The directors hold over 10M of the 30M options between them, Im sure they will also want some nominal value given to them




YT, have you noticed in the gnm offer, the opening paragraph:



> ... The all scrip offer is based on one (1) gujurat share for every five (5) rey shares, (the "offer"). *Currently, the offer is not for any Rey options*.
> 
> ...



is it [your strategy] that oppies reflect heads regardless, a *better offer will likely have to include oppies*, or generally a better offer from elsewhere?

gujurat exports its coal to india ($9M loss last year), t/o offer is 1 gujurat share for every 5 rey shares held - gnm currently @ .56, t/o offer values 1 rey share currently @ .11 [rey currently @ .11]

cheers


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## Sean K (20 August 2009)

These numbers look quite large to me.

A ramp?



ASX Release
20 August 2009

*30‐36 billion tonnes coal potential in Rey’s leases*

HIGHLIGHTS
• Estimate of potential coal occurrences across Rey’s 8,000 square kilometres Canning Basin leases completed
• Possible 335 kilometres of coal sub‐crop identified
• 30‐36 billion tonnes potential coal estimated*
• Includes 9‐11 billion tonnes of potential near surface coal (<350 metres depth)
• New shallow coal exploration targets identified
• Drilling program targeting 1‐2 billion tonnes of coal above 350 metres depth being planned


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## Sean K (21 August 2009)

Well, this ended up 35% on yesterdays 36Bt coal potential ramparama.

I didn't look through the detail of the ann to see how they came up with that figure, but my suspiscious ramp hairs are electified.

Surely the ASX will be looking at this.

If they even firm up 1Bt in the next 20 years, I'll be impressed. 

Weren't they ramping 1Bt coal over a year ago? What's happened since then?


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## skyQuake (21 August 2009)

But remember how cudeco/ausminerals did their massive copper ramp and it went to $10 before the ASX busted them?


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## CanningBasinCoal (1 September 2009)

Like the story here. Not everyday you open a new coal province in throwing distance of India and China ... also like the stock is not discussed. One of my rules is to chase value few have yet to identify. Thankfully this one is still under the radar. Hoping gap will be filled to 18c and along with it my final position ...


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## camaybay (3 September 2009)

I hope there is a buying opp at 18  or lower, 

"The drilling program is to be carried out on four of ASF Resources’ granted tenements which are situated some 12 to 15 km east of the Duchess-Paradise project of Blackfin Pty Limited where a JORC resource of 511 million tonnes of coal was publicly announced earlier this year."

After spp trading at 20.

Paradise/Duchess referred to must be REY JORC

Chart of REY, FYI some positive and neg indicators

Cheers 
DYOR


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## camaybay (4 September 2009)

After my last post it is unlikely to close the 18 gap.

4 September 2009
TAKEOVER PROPOSALS FOR REY RESOURCES
Crosby Capital
Rey Resources Limited (Rey) notes the announcement today by Crosby Capital (Holdings) Limited(Crosby) of its intention to make a conditional off-market takeover offer for 100% of the shares inRey at $0.195 cash per share. The closing price of Rey shares on 3 September 2009 was $0.195
per share.
Crosby has stated they expect to lodge their Bidder’s Statement within the next few weeks.
The Directors recommend that shareholders TAKE NO ACTION at this stage, pending further advicefrom Rey.

Close of trade to-day 23.5

Cheers

DYOR


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## Miner (12 December 2009)

camaybay said:


> After my last post it is unlikely to close the 18 gap.
> 
> 4 September 2009
> TAKEOVER PROPOSALS FOR REY RESOURCES
> ...




Hi All

I am currently looking into REY as a would be coal player.

It was also been snared by GRE - a company promoted by an Indian living in Sydney. With GRE already producing coking coal is there any one can throw some more light as no update in this forum since last three monhts


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## Miner (12 March 2010)

REY got its project delayed and possibly yet to formulate its project team.
However the love for coal is never withdrawn from GNM and its main promoter.

The recent report by Coal Mining is interesting 
http://www.miningcoal.com.au/news/i...312&utm_medium=email&utm_campaign=newsletters 

If GNM promoter is going to spend $500 M then question comes :
Is he spending own money?
equity raising by whom : GNM or REY ?
Should he try to acquire REY 
Why he has unloaded and loading REY if there is no love lost.
Where is the action plan for $500 K
Or he is just inflating
the market so as to unload his REY shares 

Probably this should be posted in GNM thead too 

Ok: the bottom line : do we think that REY is in verge of strong take over after selling off its uranium holding, hunger for coal by GNM and the management (CEO)'s willingness to lift the share price up to fulfil his bonus.

Disclaimer : Small holder.


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## Miner (17 March 2010)

Interesting note from FAT prophets I received from REY. This was dated 3 March and sent to me this morning. I searched ASX and never found the document.

I am astonished even after barracking by Fat (I do not think they have any sensible audience now after so many failed recommendation) the prices of REY have hardly changed.

Having said that what I liked :


About low depth availability of thermal coal meaning mining cost will be cheaper.
Hunger for India to get more coal for the ever rising thermal plants. That explains why GNM is interested and I can relate to GNM Director's presentation to invest $500 M.

However I do not like why REY is slogging to lift its price up 
I also do not know why REY sent this document on 17 March when it was written on 3 March and not published in ASX site 
I however challenge the quality of a feasibility study report and its content being prepared at a cost of $10 M. Of course if the study is going to provide an error within 25% then the quote of $10 M is okay.

I am holding it and after a discussion with the CEO and reading its details I think it has the future to be a good resource company. So would like to hold for a while.


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## noirua (1 June 2010)

So the only bid left on the table is by GNM and they need to raise it substantially to win the day. Strange that they have persevered for 10 months and not raised the bid from 9c a share or 1 for 5 GNM.

Still, the board of REY remain calm and are seemingly forgetting the GNM bid, expecting it to lapse.

When the dust settles it may be possible to get the slide-rules working again on REY.


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## noirua (3 June 2010)

Will GNM wake up? Their bid last year at 9c cash is now a joke, a sad one as they have not raised the price despite a buoyant coal sector. Cash bid should be around 16c a share and share offer raised from 1 for 5 to 1 for 3.

Get real GNM and the REY board will take your bid seriously, or they should do.


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## noirua (10 November 2010)

noirua said:


> Will GNM wake up? Their bid last year at 9c cash is now a joke, a sad one as they have not raised the price despite a buoyant coal sector. Cash bid should be around 16c a share and share offer raised from 1 for 5 to 1 for 3.
> 
> Get real GNM and the REY board will take your bid seriously, or they should do.




Up jumps Rey Resources. A little ray of sunsine in my portfolio and well in profit at last. Managed to drive GRN away and now, would you believe it, yes, it could even be oil - up like a rocket ship - a joyful event that seems to be affecting all of my mining stocks. High risk but great fun indeed.


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## noirua (3 January 2011)

I hope you're still in this one miner!. Recently I bought in after unloading some WEC stock and this coal near surface depth is looking good - not to say that WEC aren't a great stock to hold but they're messing around a bit.
Market cap at 34.5c isn't much over $110 million and they have brought in mining exploration minnow UXA Resources to explore for uranium at Myroodah whilst compiling coal data. UCG is the name of the game at Myroodah.
My favourite in the coal sector.


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## noirua (4 January 2011)

REY have an early target of 2mtpa thermal coal production from Duchess Paradise. Coal prices are now well over $100 per tonne and this looks very good for near surface mining. Later an extra 4mtpa is earmarked.
The profit from production for 2mtpa is likely to be about the present market cap at 34.5c = $110 million.


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## noirua (14 January 2011)

noirua said:


> REY have an early target of 2mtpa thermal coal production from Duchess Paradise. Coal prices are now well over $100 per tonne and this looks very good for near surface mining. Later an extra 4mtpa is earmarked.
> The profit from production for 2mtpa is likely to be about the present market cap at 34.5c = $110 million.




Life moves on and a start today at 37.5c as investors look at coal production from Duchess Paradise and realise annual profits could eventually exceed today's market cap.  REY's interest in oil and gas in the Canning Basin have perked up this, imho, undervalued coal stock with oil, gas and Uranium exploration interests.


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## noirua (21 January 2011)

noirua said:


> Life moves on and a start today at 37.5c as investors look at coal production from Duchess Paradise and realise annual profits could eventually exceed today's market cap.  REY's interest in oil and gas in the Canning Basin have perked up this, imho, undervalued coal stock with oil, gas and Uranium exploration interests.




Despite the above I'm now out of Rey Resources as I reduce my commodity based portfolio. Good company but coal production some years away yet.


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## Country Lad (28 October 2013)

I suppose that's the way the cookie crumbles.  Pick a likely contender for a breakout and be away from the computer all day.  

Nice rounding bottom - the chart I mean.

Cheers
Country Lad


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## piggybank (7 November 2013)

Now which scan did you get this one from? A paid one or one of your own? 

Congratulations on another winner......


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## Country Lad (8 November 2013)

piggybank said:


> Now which scan did you get this one from? A paid one or one of your own?




I don't have any I have paid for, just mine and those written by others.  About equal success with each group.

Cheers
Country Lad


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