RCH - Richfield Group
- Thread starter Snakey
- Start date
-
- Tags
- rch richfield group
- Status
- Joined
- 19 September 2004
- Posts
- 205
- Reactions
- 5
Re: RCH - Richfield
I bought on the close today.
Insiders are having a field day.
I am glad there has been the usual response re: speeding ticket.
That will mean interest will remain through early next week.
I bought on the close today.
Insiders are having a field day.
I am glad there has been the usual response re: speeding ticket.
That will mean interest will remain through early next week.
Re: RCH - Richfield
Check out my thread in the Beginners' Lounge.
Richfield Group Ltd are considering three new areas (that I have read about) for investment that will change the style of company they are. I wish I could recall exactly what they were!
One was a television outfit in China, something entirely different (a resource?) in the US and another concept in one other country. (Russia? ...don't quote me on *this* country)
On 14 March 2007 they made a private placement to 'sophisticated investors' of 69.5 million FPO shares (5% of their issued share capital) @ 7.6 cps to raise $521k "to assist... appropriate business opportunities". They plan to move from IT into other areas including resources when they have enough working capital. They can place up to 15% without shareholder approval.
These shares @ 7.6 cents...
Today RCH rose from 1.8 to 3.2 cents.
The new options will be exercisable for 1 cent from 29 November 2007.
I can't find where I read of the three 'investment opportunities'.
I *do* recall seeing many Chinese-looking names owning shares.
Check out their 28.09.2007 annual report.
It seems to me to be 'good fortune' to have a SP hike so that the options will be of value for stags.
Check out my thread in the Beginners' Lounge.
Richfield Group Ltd are considering three new areas (that I have read about) for investment that will change the style of company they are. I wish I could recall exactly what they were!
One was a television outfit in China, something entirely different (a resource?) in the US and another concept in one other country. (Russia? ...don't quote me on *this* country)
On 14 March 2007 they made a private placement to 'sophisticated investors' of 69.5 million FPO shares (5% of their issued share capital) @ 7.6 cps to raise $521k "to assist... appropriate business opportunities". They plan to move from IT into other areas including resources when they have enough working capital. They can place up to 15% without shareholder approval.
These shares @ 7.6 cents...
Today RCH rose from 1.8 to 3.2 cents.
The new options will be exercisable for 1 cent from 29 November 2007.
I can't find where I read of the three 'investment opportunities'.
I *do* recall seeing many Chinese-looking names owning shares.
Check out their 28.09.2007 annual report.
It seems to me to be 'good fortune' to have a SP hike so that the options will be of value for stags.
Re: RCH - Richfield
Sold half my position @.047 42% for the day is enough for me...
Will hold the remainder of the position to see what comes of this move.
Does anybody have any information on the US resource of some sort??? company has not released any info at this stage.
Sold half my position @.047 42% for the day is enough for me...
Will hold the remainder of the position to see what comes of this move.
Does anybody have any information on the US resource of some sort??? company has not released any info at this stage.
- Joined
- 26 February 2007
- Posts
- 358
- Reactions
- 0
Re: RCH - Richfield
Well done on continuing to hold this one. Its a pretty volatile little thing. I got out early yesterday after it was looking a little shaky Wednesday arvo. best of luck.
Well done on continuing to hold this one. Its a pretty volatile little thing. I got out early yesterday after it was looking a little shaky Wednesday arvo.
best of luck.Re: RCH - Richfield
Hi Guys
I am a bit confused (being new to trading). The bid price for RCH is 0.050 and the offer is 0.043. Is this for when the trading re-opens next week or am I missing something? And is this bid price is an indication of traders are expecting the price to go up next Tuesday? What is going on?
Help will be appreciated.
Thanks.
Hi Guys
I am a bit confused (being new to trading). The bid price for RCH is 0.050 and the offer is 0.043. Is this for when the trading re-opens next week or am I missing something? And is this bid price is an indication of traders are expecting the price to go up next Tuesday? What is going on?
Help will be appreciated.
Thanks.
Re: RCH - Richfield
Guys i posted on hot copper about this one.
On the prospectus they issued just recently under section 2.1 it mentions a possible resource play. Now there are a few reasons why i dont like this stock but its all IMO, remember to DYOR:
a) they have alot of scrip;
b) they have no cash; and
c) they dont seem to be carrying on any type of business.
How will they acquire a decent resource play with no cash without issuing a **** load extra scrip?? This stock has zero fundamentals. Be careful.
Guys i posted on hot copper about this one.
On the prospectus they issued just recently under section 2.1 it mentions a possible resource play. Now there are a few reasons why i dont like this stock but its all IMO, remember to DYOR:
a) they have alot of scrip;
b) they have no cash; and
c) they dont seem to be carrying on any type of business.
How will they acquire a decent resource play with no cash without issuing a **** load extra scrip?? This stock has zero fundamentals. Be careful.
- Joined
- 22 September 2006
- Posts
- 435
- Reactions
- 0
RCH - Richfield Group Ltd
Richfield Group Ltd. is a shell company undergoing a major restructuring. It has just announced the purchase of of a 75% interest in Victory West P/L for $10 million by way of share issue. In effect, this becomes a listing of Victory West. The main asset is a number of leases in Indonesia on which Rio Tinto spent $20.5 million in 1970 to 1985 in a major search for molybdenum and other metals.
Please note that this is a VERY SPECULATIVE SITUATION due to lack of information and the stock may become extremely volatile. The event that attracted me here was the extremely bullish technical action in the stock (see below) The SP has an almost "vertical build" supported by hi volume and stochastics that confirmed to-day as an entry point (following a sharp pull back and breakout to potentially new hi's. My count in the current formation is 7 to 9 cents but is subject to various qualifiers. Another odd piece of information is that the top twenty shareholders are almost all Asian. Please note that the number of shares and options to be issued (including the vending of Victory West into the shell) will probably be subject to a substantial reverse split. The point to follow is the valuation of the "whole" which is currently $20.8 million at 3.9 cents plus new shares to be issued currently worth $19.5 million.
The chart follows
Richfield Group Ltd. is a shell company undergoing a major restructuring. It has just announced the purchase of of a 75% interest in Victory West P/L for $10 million by way of share issue. In effect, this becomes a listing of Victory West. The main asset is a number of leases in Indonesia on which Rio Tinto spent $20.5 million in 1970 to 1985 in a major search for molybdenum and other metals.
Please note that this is a VERY SPECULATIVE SITUATION due to lack of information and the stock may become extremely volatile. The event that attracted me here was the extremely bullish technical action in the stock (see below) The SP has an almost "vertical build" supported by hi volume and stochastics that confirmed to-day as an entry point (following a sharp pull back and breakout to potentially new hi's. My count in the current formation is 7 to 9 cents but is subject to various qualifiers. Another odd piece of information is that the top twenty shareholders are almost all Asian. Please note that the number of shares and options to be issued (including the vending of Victory West into the shell) will probably be subject to a substantial reverse split. The point to follow is the valuation of the "whole" which is currently $20.8 million at 3.9 cents plus new shares to be issued currently worth $19.5 million.
The chart follows
Attachments
- Joined
- 22 September 2006
- Posts
- 435
- Reactions
- 0
Press release out this morning. RCH has acquired a hi grade moly play in Indonesia. Looks very interesting and may be loaded with potential based on the commentary in the PR. They are talking +100 million tonnes of hi grade ore potential. Are there any folks who have researched the moly plays, to make any comparisons? The technicals look like RCH may be headed for a breakout, subject to a volume buildup which seems to be underway. I will post more later to-day.
Hi sydneysider,
Bought in this morning on the dip, this deposit they acquired in Indonesia is truely massive, and once the word starts to spread the shares will be re-rated significantly higher.
To put the deposit into context all you have to do is compare the size with the molybdenum project currently being developed by Moly Mines
MOL have 315mt at 0.05%.
RCH have 114mt at 0.14%. About the same total amount of contained Mo
as stated by RCH the deposit is not far from a deep water port, so infrastructure is excellent, RCH could be the next spec to break out much higher.
for those who like a good risk/reward profile you should look into RCH, especially the options that are trading at only a slight premium to the heads they provide excellent leverage to this developing story.
Bought in this morning on the dip, this deposit they acquired in Indonesia is truely massive, and once the word starts to spread the shares will be re-rated significantly higher.
To put the deposit into context all you have to do is compare the size with the molybdenum project currently being developed by Moly Mines
MOL have 315mt at 0.05%.
RCH have 114mt at 0.14%. About the same total amount of contained Mo
as stated by RCH the deposit is not far from a deep water port, so infrastructure is excellent, RCH could be the next spec to break out much higher.
for those who like a good risk/reward profile you should look into RCH, especially the options that are trading at only a slight premium to the heads they provide excellent leverage to this developing story.
- Joined
- 22 September 2006
- Posts
- 435
- Reactions
- 0
RCH may be about to move. Technicals have lined up. Both stochastics and MACD turning up. The comparison with Moly Mines is very apt. Have attached a six month daily chart and we will see where this one runs to. Many small specs currently have "falling knives" written alll over them.
Attachments
- Joined
- 22 September 2006
- Posts
- 435
- Reactions
- 0
Making a major move hit 4 cents a few minutes ago. There are some very interesting connections lining up behind this minnow, hopefully I can get an update shortly, but bought more yesterday and to-day and have been trading RCH for several months now. Why is no-one making any comments about the moly property? good luck to all longs.
- Joined
- 22 September 2006
- Posts
- 435
- Reactions
- 0
RCH is now hitting 4 cents for the third time in ten days. May be getting set to break much higher. Please see prior chart. On Balance Volume has exceeded +100 million during this time period which is an extremely positive development amongst a sea of "falling knives". Good luck to all longs.
- Joined
- 22 September 2006
- Posts
- 435
- Reactions
- 0
I am totally stunned that we do not have more analysis of RCH. Will continue with my monologue. Yesterday RCH released its Presentation for brokers for its Indonesian Moly Project. The data is quite fascinating and indicative of a very major moly deposit. Some of the mineralized hits run to around 250 meters of economic/hi grade mineralization and part of the commentary seems to allude to the fact that part of the mineralized section was "mis-drilled" and may in fact contain a 100 million tonne target zone. I need to re-read this report, but my intial understanding is that there may be +200 million tonnes of hi grade moly in this deposit/s subject to drilling.
Chart follows which clearly indicates a hi volume breakout into blu sky above 5 cents. very interesting times here. good luck to all longs.
Chart follows which clearly indicates a hi volume breakout into blu sky above 5 cents. very interesting times here. good luck to all longs.
Attachments
- Joined
- 7 November 2007
- Posts
- 312
- Reactions
- 0
Hey when you have a look and compare the size of the resource and SP of MOL, RCH looks like a worthwhile punt.
- Joined
- 7 November 2007
- Posts
- 312
- Reactions
- 0
One of the directors has bought an extra 1 million shares so that is encouraging.
This is a long term for me, bottom draw stuff.
This is a long term for me, bottom draw stuff.
- Joined
- 22 September 2006
- Posts
- 435
- Reactions
- 0
One of the directors has bought an extra 1 million shares so that is encouraging.
This is a long term for me, bottom draw stuff.
RCH is now in negotiations with the local government on Toli Toli and will do a formal presentation to the government next week according to this mornings announcement. IMHO this means that they have lined up a party or parties with deep pockects to JV and finance the project subject to due diligence. Based on the size and scale of the project things could get very interesting. IMHO this is a very bullish development.
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,041
- Reactions
- 11,057
No idea of the funnies, but some of the indicators here show some sighs of a turn about. RSI moving up through 50, MACD just crossing (MACD going through 0 would be a better signal of trend), and DMI+ above the -. However, ADX below 20 means it's a weak trend at the moment. When it moves up through 20, then it might confirm some positive movement.
Looks to be lots of resistance at those red lines. Made a couple of higher highs recently which is positive. Right now, tight stops required, or be prepared to wait out the sideways ranging between 3 and 5, until a breakout through 5 on volume.
Looks to be lots of resistance at those red lines. Made a couple of higher highs recently which is positive. Right now, tight stops required, or be prepared to wait out the sideways ranging between 3 and 5, until a breakout through 5 on volume.
Attachments
- Status
