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Flying.
One of the regulars bought this when I first spotted it at 8.5c in November
One of the regulars bought this when I first spotted it at 8.5c in November
RBM - Redbank Mines
- Thread starter crazyjimsmith
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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
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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Re: RBM Redbank
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.
YOUNG_TRADER 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.
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Re: RBM Redbank
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
crazyjimsmith 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,
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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hmmmm 18c up 150%!
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Re: RBM Redbank
21c right now........
It must have been that really thick drill interesection that showed 2% copper!
YOUNG_TRADER said:
21c right now........
It must have been that really thick drill interesection that showed 2% copper!
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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
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
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
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
ALFguy
Trading gives me a headache
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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.
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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TwinTurboCelica, is the member who you are mentioning
ALFguy
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Stop_the_clock said:
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 said:
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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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
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
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
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
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.
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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