RIE - Riedel Resources

[System]

Riedel Resources Limited (RIE) is an Australian-based exploration company established to explore for and develop gold and base metals mineralisation in Western Australia.

The Company was incorporated on 9 April 2010 as a public company for the purpose of acquiring a portfolio of highly prospective exploration Projects located in Western Australia from ADX Energy Limited (ADX) formerly AuDAX Resources Limited.

http://www.riedelresources.com.au

 

[barney]

Interesting little spec this one ....

Up 50% today on small volume ... (No Sellers interested !!)

Up track from Sandfire's multi million dollar deposit

Cash in the bank was higher than their market cap (before today) ... I'm curious

 

[TMC93]

Anyone got any info on why this jumped 50%? Cheers!

 

[barney]

Anyone got any info on why this jumped 50%? Cheers!

Doing a bit of digging myself at the moment !!

Early info so far .....

We all know about Sandfire and what their deposit did to their SP

Sipa Resources (SRI) who are up track on the same fault line as Sandfire look to have run into some "interesting" property as well ...

SRI's recent SPP was heavily over subscribed, so the punters like what they are seeing so far ...

SRI's recent report mentions the resource appears to be open to the North, East and West ...

Guess where Riedel Resources tenements are located ...... On the same fault line as both Sandfire and Sipa ...... to the NNE ! ... and their tenement is not exactly small !

Could be a nearology play, but at their current market cap, it looks a low risk punt.

Interesting that a Director of RIE recently purchased some additional shares on market

So we have a very low market cap .... cash in the bank ...... Directors buying ..... Nearology factor to Sandfire etc ..... and a lack of interested sellers .....

Certainly ticking a few spec boxes at this stage .... I'll be watching with interest

 

[TMC93]

Absolutely, will have to look further into this company.

 

[barney]

My homework is done ..... Here is a bit of the info for anyone interested... If you like Specs, it could be worth a look


If we follow the Jenkin Fault to the N-NE, we have in order ...

SFR Sandfire .... Market Cap approx $1 billion ..... major resource discovery

SRI Sipa Resources Market Cap around $65-70 million ...excellent drilling results, and recently announced an alliance with Antofagasta of Chile ... one of the worlds largest Copper Producers.

LSR Lodestar Minerals ..... Market Cap of around $10 million ...... some encouraging results so far and right on trend next door to Sipa ...... have a large tenement holding as well.

RIE Riedel Resouces ...... Market cap around $8+ million. One section of RIE's tenements is directly on trend from Lodestar's current drilling campaign. Lodestar are very upbeat about what they have in the ground, so if their current drilling proves up anything like what SRI next door have, both LSR and RIE current market caps should come under some upward pressure.

The RIE Directors have been accumulating shares for several months at prices between 12 and 18 cps ..... plus they were cleaning up cheap Options during the middle of the year .....

Only about 60 million shares on issue ...... the top 20 shareholders own about 70%

REI was spun off from ADX earlier this year so the Materials and the Energy resouces could be more effectively managed.

ADX holds 42% of REI shares ....... Three of the Directors are on both Company boards. Two of those directors also recently purchased approx $20K in ADX shares

The whole Jenkin Fault area certainly looks interesting. RIE and LSR look a low risk punt compared to most Specs, especially at their current market caps ..... we shall see.


Directors activity this year ..... always good to see the Directors putting their cash in with the regular punters


02/12/2011 Change of Director`s Interest Notice 2 PDF

21/11/2011 Change of Director`s Interest Notice 2 PDF

19/10/2011 Change of Director`s Interest Notice 2 PDF

17/10/2011 Change of Director`s Interest Notice 2 PDF

27/09/2011 Change of Director`s Interest Notice - Amended 20.09.11 -
20/09/2011 Change of Director`s Interest Notice 2 PDF

12/08/2011 Change of Director`s Interest Notice 4 PDF

28/07/2011 Change of Director`s Interest Notice 3 PDF
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28/07/2011 Change of Director`s Interest Notice 3 PDF

12/07/2011 Change of Director`s Interest Notice 3 PDF

30/06/2011 Change of Director`s Interest Notice 3 PDF

10/06/2011 Change of Director`s Interest Notice 3 PDF
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10/06/2011 Change of Director`s Interest Notice 3 PDF
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10/06/2011 Change of Director`s Interest Notice 3 PDF
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10/06/2011 Change of Director`s Interest Notice 3 PDF
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09/05/2011 Change of Director`s Interest Notice 3 PDF

06/05/2011 Change of Director`s Interest Notice 3 PDF
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04/05/2011 Change of Director`s Interest Notice 3 PDF

10/02/2011 Change of Director`s Interest Notice 3 PDF
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08/02/2011 Change of Director`s Interest Notice 3 PDF

31/01/2011 Initial Director`s Interest Notice 2 PDF
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31/01/2011 Initial Director`s Interest Notice 2 PDF
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31/01/2011 Initial Director`s Interest Notice 2 PDF
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31/01/2011 Initial Director`s Interest Notice 2 PDF
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31/01/2011 Initial Director`s Interest Notice 2 PDF

 

[TMC93]

Cheers for that, its more of a punt than i usually like but will definitely keep it in the watchlist.

 

[barney]

No worries TMC,

Biggest issue I can see .... getting any volume on RIE without moving the SP too far looks difficult. Tightly held would be an understatement

I might just keep an update going on this one relative to the other stocks drilling in the Jenkin Fault area, just for reference sake.

Today for example ....

SFR ........ up 17 cents (2.53%)

SRI ........ up 1.5 cents (9.68%)

LSR ....... up 1 cent .... (10%)

RIE ....... up 2 cents .... (13.33%)


Anyone else think the area looks hot !!

Usually where there's smoke there's fire ..... be interesting how all these Companies fare over the next few months.

 

[TMC93]

Great info there on the jenkin fault, I really find it hard to value companies like RIE, such a big move in the last couple of days makes me worry that there is going to be a pretty heft correction. At the moment, my entry would be significantly lower than the last $0.17 that it finished at today but on the other hand one part says that it might be the start of another NST. Will have to wait and see, if only i had more capital

 

[barney]

Only about 60 million shares on issue ...... the top 20 shareholders own about 70%

REI was spun off from ADX earlier this year so the Materials and the Energy resouces could be more effectively managed.

ADX holds 42% of REI shares ....... Three of the Directors are on both Company boards. Two of those directors also recently purchased approx $20K in ADX shares

Shares have been almost impossible to get under 15 cents with this one ...

A little bit of trading interest around the 15 cent mark at the moment. If the supply is mopped up at that level with any volume, it will start to look very interesting

Major Shareholder ADX shareprice is also looking positive.

Overall good vibe about this one ... we shall see.


As I was typing ... Announcement out ....... Good looking Gold grades

Drilling targets have emerged from the interpretation of
recently completed field reconnaissance work and historic
RAB drilling results at Baumgarten’s Reward, including:
─ 21 metres @ 19.3g/t Au from surface;
─ 21 metres @ 16.7g/t Au from surface, and;
─ 17 metres @ 13.4g/t Au from 4 metres depth.
● Drilling target also identified at Baumgarten’s South after
rock chip sampling of an outcropping quartz vein returned
56.6g/t Au.

 

[barney]

This one has been like trying to catch a moving roller coaster ....

Recent run up to 15 cents ... Hindsight showed that was a few larger holders selling before the announcement of a small cap raise to themselves (they are "sophistocated" apparently!!)

So they sold a few at 15 cents, then got them back at 11.5 cents ..... no hint of the small investors getting in on the action, but with the market tanking that turned out to be a good thing ..... in the short term at least.

Share had a short visit down to just over 7 cents before todays announcement of some pretty good gold grade samples.

I get the feeling that these guys are quietly sitting on some good property, otherwise they wouldn't have gotten their "mates" involved at 11.5 cents.

Directors still buying more on market at a premium to the SP as well, so either they are confident, or putting on a brave face for their sophistocated mates.

Not a good market for Specs, but until the recent downturn, you couldn't get any of these for 10 cents ........ see what develops IF the market improves (around Christmas by my calculations

 

[springhill]

Marymia Project Soil Geochemical Sampling Results Confirm Copper and Gold Potential

HIGHLIGHTS
● Numerous multi-element soil geochemical pathfinder anomalies prospective for copper, gold and/or base metals mineralisation delineated, including:
─ Strong arsenic anomalies define gold targets;
─ Large molybdenum and bismuth anomalies prospective for copper along trend from Sipa’s Enigma copper prospect, and;
─ Strong indium, bismuth and arsenic anomaly prospective for gold and/or zinc mineralisation

 

[springhill]

Excellent gold results from auger drilling at the Gonsin Project - Burkina Faso

● Numerous new gold geochemical anomalies have been delineated by auger drilling, including peak values of:
─ 1,939 ppb Au, 546 ppb Au, 541 ppb Au and 274 ppb Au.
● Significant northeast-southwest trending anomalous gold zone delineated in 7 kilometre long and 1.5 kilometre wide structural corridor.
● Aircore drilling planned to test highest priority gold anomalies.

 

[barney]

..... be interesting how all these Companies fare over the next few months.

Price action on RIE has been pretty much non existent of late.

Recent Cap raise to the Sophisticated chaps was diluted to 7.5 cents. My guess is that Management copped a bit of heat from the "money men" at the original cap raise price of 11.5 cents, so they negotiated a deal to get them in at an average price of 7.5 cents. Considering how illiquid this is, and the current market for Specs, that price looks fair enough.

They now have a little spending money for the next round of drilling and with follow up results like they have had so far, the current share price of 7 cents could look very undervalued

(Taken from the recent Quarterly, Iv'e highlighted the interesting bits)

The Company has a mixture of advanced and early stage prospects, with an initial focus on
the following four core Projects:
• Marymia (copper, gold, nickel and base metals);
• Burkina Faso (gold and copper);
• Cheritons Find (gold - 1Inferred Resources of 1.4Mt @ 2.4g/t Au for 108,000 oz);
• Millrose (gold - Inferred Resources of 4.0Mt @ 2.4g/t Au for 309,000 oz).

Furthermore, the Western Australian Projects are augmented with a number of additional
prospects, including existing joint ventures, royalty agreements and free carried interests.

During the Quarter, exploration programmes including the collection of 3,873 infill soil
geochemical samples and detailed geological mapping over a further ten square kilometres
were carried out over previously unexplored or underexplored areas within the Company’s
Marymia Project area

The infill soil sampling focused on the highest priority areas within the tenements and samples
were analysed for gold and a multi-element suite totalling 48 elements. As expected, positive
results were received, which resulted in much better anomaly definition.

Riedel believes that the anomalies recognised by the key pathfinder elements, referred
to above, represent high-order targets and that considerable potential exists for the
discovery of mineral deposits including copper, gold/silver and base metals.


So they already have 400,000 ounces of Gold, with excellent grades ........ Nearology factor to Sandfire in the Doolgunna region .. plus the new aquisition at Burkina Faso showing positive results.

Currently a few shares on offer around 8 cents ... after that ... bugger all. Not long ago you couldn't buy these well above 10 cents. Any offer under 10 has been on next to no volume ......... Considering their grades/resource/tenements, it looks a resonable punt at these levels, particularly if Gold keeps rising

(All just my opinion DYOR etc etc.)

 

[greggles]

First post in this thread in over eight years.

RIE is very thinly traded but there has been some movement at the station recently. They are about to start drilling at their Kingman Gold Project in Arizona and their share price has been showing some signs of life.

I haven't looked too closely at RIE, or this particular project, but noticed the share price was moving up recently. If anyone else has some insights, feel free to share.

 

[barney]

First post in this thread in over eight years.

I haven't looked too closely at RIE, or this particular project, but noticed the share price was moving up recently. If anyone else has some insights, feel free to share.

Thanks for the update Greg.

Used to follow this little battler but they seemed to go for months doing nothing hence the SP hiatus for many years.

Jumping 50% by announcing an upcoming drilling campaign shows just how flighty the Spec end is at the moment.

Still have a low Market Cap of around $16 million (maybe + $20 after today?) so plenty of room to move on further good news I guess.

Pass for me at this stage.

 

[greggles]

Thanks for the update Greg.

Used to follow this little battler but they seemed to go for months doing nothing hence the SP hiatus for many years.

Jumping 50% by announcing an upcoming drilling campaign shows just how flighty the Spec end is at the moment.

Still have a low Market Cap of around $16 million (maybe + $20 after today?) so plenty of room to move on further good news I guess.

Pass for me at this stage.

Things seem to be going RIE's way at the moment. The maiden drill program at their Kingman Project in Arizona has returned multiple shallow, high grade gold and silver intersections.

Further assay results are due in April and May with drilling continuing on the final ten holes in the program. Very speccy of course, but they are up from under 1c in July last year to 4c today and could go a lot higher if the good news keeps on coming.

 

[barney]

Definitely some tidy Grades in there

The VWAP will be interesting today

Currently over $10 million traded

High of 058 Now at 034 still = + 47%

 

[Sean K]

I do have some Riedels. Very nice.

 

[barney]

I do have some Riedels. Very nice.

Lol That stuff will kill you Kennas