RMI - Resource Mining Corporation

[juw177]

And one more thing Prawn_86, being young and tolerating of risk is one thing. Refusing to admit there is a risk is something else entirely, and is very stupid.

 

[prawn_86]

My oh my. So your reasons that the correction does not bother you is:

1. You are freeholding: why should unrealised gains be treated so differently to realised gains?

2. You believe your research and judgements are correct: I dont know what your reasons are but believing you are correct does not mean you can predict the market

3. The whole market took a hit: nothing to do with your research so in a way you are still correct?

4. You are young and tolerate risk: you are young and a well calculated investment today will make a big difference as it compounds over the years.

5. You want to hold long term: even though you have only bought in very recently and the companies are largely speculative.

6. You dont loook at the price screen: if you dont see the red it isnt there right?


Sounds like somebody just does not want to accept.

1. freeholding is part of my strategy and as i have said, i am comfortable with my investments

2. i do not pretend to be able to predict the market, but taking a longer term view, small hiccups are inevitable.

3. Im not sure i understand what this is trying to say. How many people here accurately predicted a correction on any of their stocks, speculative or not.

4. I agree that compounding will make a huge difference over time. however my investment money is not the only savings/assets i have and i am comfortable with my risk profile.

5. I have only bought in recently but everyone has to start somewhere. I will admit i have been investing for under a year and know very little, but i prefer to look at longer term value than a short time frame such as a week or a month.

6. Im happy to accept that my portfolio has decreased significantly in value over the last couple weeks.

the main reason the correction does not bother me is as i have previously mentioned, i believe in the 'stronger for longer' theory, and believe that this is only a correction, not the start of a bear market. i could well be wrong and will admit it if it does come to that.

this doesnt seem to have too much to do with RMI though, so if you wish to discuss it further feel free to PM me as i am happy to learn as much as possible and gain as many perspectives as possible.

edit - i know my investments are high risk, that is why i do not invest money i cannot ultimately afford to lose in an absolute worst case scenario.

 

[Bushman]

And one more thing Prawn_86, being young and tolerating of risk is one thing. Refusing to admit there is a risk is something else entirely, and is very stupid.

Just like over reacting in a blind panic to every market correction is over the top. Both sides to every argument. Why sell and lock in losses at the height of a correction if you are not a day trader. Seems pointless to me if you have done the fundamental research.

Easiest gig in the world being a bear on any speccie stock thread at the moment.

 

[juw177]

Sorry for derailing the thread. I am not down ramping RMI, I believe in YT's analysis and that there is massive upside to this.

Was just a little worried that the above poster believes so strongly he is passing off a 50% loss as an "inevitable small hiccup". Good luck to holders. I will be watching this stock closely when the uptrend resumes.

 

[prawn_86]

one must remember that RMI ran very hard to get to its recent highs.

when i first posted my analysis on it, it was at 6c. Today its low was 7c. So that is still a 16% gain in a month, which is still a good return.

 

[Sean K]

Everyone above, and below, this is what happens during a correction.

In 15 years time, you will have seen it before, and be more comfortable with it.

Learn from the experience.

 

[juw177]

That's true it has run hard. Sorry, didnt realise you posted an analysis too. In any case, Wowo does have the potential to turn this one into a real winner but until then, the market will take a long time to realise the fundamentals especially in these conditions.

 

[prawn_86]

Although not mentioning RMI specifically, this article shows the type of companys which may be interested in what they have...

http://www.smh.com.au/news/Business/Teck-Cominco-on-hunt-for-acquisitions/2007/08/06/1186252611215.html

 

[tsar]

RMI - Resource Mining

This is a very interesting company at a bit of a bargain price in my opinion. Huge potential with nickle reserves in PNG however the resource is quite low. Read the latest report by Pattersons on RMI's website for some info. Taken a bit of a beating lately with delays in drilling. Good time to pick up a bargain in my opinion

 

[SGB]

Is there something wrong with my platform or are others having difficult with RMI depth.
My platform reads

0.078 319,191 1
0.079 139,748 2
0.080 164,000 2
0.081 39,840 1
0.080 210,000 2
0.081 190,000 2
0.082 838,000 7
0.083 26,440 1
0.082 120,000 1
0.083 640,226

ands its not moving

 

[powerkoala]

Is there something wrong with my platform or are others having difficult with RMI depth.
My platform reads

0.078 319,191 1
0.079 139,748 2
0.080 164,000 2
0.081 39,840 1
0.080 210,000 2
0.081 190,000 2
0.082 838,000 7
0.083 26,440 1
0.082 120,000 1
0.083 640,226

ands its not moving

Buyers
Number Quantity Price
3 357936 0.076
5 590000 0.075
3 330000 0.074
10 637187 0.073
7 769211 0.072
8 599563 0.071
8 966841 0.070
5 1000000 0.069
1 100000 0.068
2 453000 0.066

Sellers
Price Quantity Number
0.078 319191 1
0.079 279748 3
0.080 374000 4
0.081 229840 3
0.082 958000 8
0.083 666666 4
0.084 353846 2
0.085 292000 4
0.086 132000 2
0.087 50000

and last transaction 7.8c 50000 at 12:41:02
cheers

 

[skiper]

SGB, no trades since 12.41, so i think you will find everything is OK, we just need to go higher in price lol

 

[SGB]

SGB, no trades since 12.41, so i think you will find everything is OK, we just need to go higher in price lol

Thanks guys

Just had a bug there for a minute in my watchlist, so i had to take out RMI and re put it back in and now seems to be OK. Might have to visit COMSEC thread.

 

[powerkoala]

hm,.. nice movement from the last 15 minutes.
big buyers just arrived.
now at 8.4c.
still 30 minutes to close.
will it reach 9c barrier today?

 

[ALFguy]

hm,.. nice movement from the last 15 minutes.
big buyers just arrived.
now at 8.4c.
still 30 minutes to close.
will it reach 9c barrier today?

Absolutely amazing the effect that a single order has. I guess it was 1mil though, but still.

We do appear to have shaken out all the weaker holders though as there was very little dumping today.

 

[powerkoala]

True, on single order at 8c and then jump to 8.1c.
The rest just follow.
I wish I had lot money like that
Think we will have close high today.

 

[golfmos123]

Hey koala,
You got your high close yesterday but a bit of a fall from the tree today. Any opinions on when we're going to see a longterm breakout from the 7s into something higher and more comfortable for me?

I got into this one at the wrong time I guess (in the 10s) and have been buying more and averaging down as it keeps goes down. Going to run out of money soon if it keeps falling

 

[jl77]

indeed rmi is plumbing some real depths here,

im on a big % loss(down 40%), but not so big $ loss and up until a few weeks agos i would be loosing sleep, but my father has a different perspective and i think its rubbed off on me a bit, most of his trades last a few years, so to him (i alerted him to this - and he got some at 8.9c) this time frame is not of much concern, in fact he want to buy more, funny tho i am not thinking of buying more, i guess i like to see them go up first - then usually am too slow to react and buy in at a high, maybe using this panicked market to get some more is not such a bad idea,

Hang in there. As an old man once said to me its time in the market NOT timing the market.
Base your decisions on strong fundamentals and always DYOR. Then do some more!!
In 12 months time we'll wonder why people were jumping out of windows.
Check out the DOW correction about 6 months ago, albeit bigger, these things happen regularly.

Cheers.

 

[powerkoala]

Hey koala,
You got your high close yesterday but a bit of a fall from the tree today. Any opinions on when we're going to see a longterm breakout from the 7s into something higher and more comfortable for me?

I got into this one at the wrong time I guess (in the 10s) and have been buying more and averaging down as it keeps goes down. Going to run out of money soon if it keeps falling

yes, i also shock my self when all the market have to dive.
i got in at 7.2c and had to sell today.
just like YT said, fundamental still good.
wowo project will be something interesting.
but the nickel price is suffering from massive lost.
all markets in europe are bloody red, no doubt dow will follow the beating.
i guess we will see down day again on monday.

 

[zhang9288]

RMI Directors should go to China and promote the WOWO project.. Without Chinese money they can抰 do nothing especially with this never ending liquidity crisis.
If drilling results turn out OK and the Chinese can help develop it. RMI could be another Fortescue FMG story. If not they抣l survive only on the pettiness of JVs and farming out.

You抳e got to take your hat off to A. Forrest. When he started his FMG 揹ream?at 30c a share people said here he comes again, Mr Anaconda trying to sell us more snake oil?local funds didn抰 give a damn or a dime. He hopped on a plane to China and the rest is history.. in 2 year he turned the company into 4th largest in oz with SP close to 40 bucks.
Now Andrew knows the Chinese are cashed up and buying big 卼hey抳e secured a lot of Iron ore thru FMG, building rail lines and port?but they need Nickel So he took over Niagara?and turned it into Poseidon Nickel (POS)? and watch what抯 going to happen at the end of the year if drilling results are Good卪ore Tenements匤Vs..etc?And her is a benefit for Cullen ( Cul ).. waiting patiently in the wings卼hank you
Anyone who hops on the Beijing gravy train will prosper..
Come on, Res Min, convince China that PNG is a good bet.. they have political influence 匴OWO is close to the sea and cheap to develop ?It may be as a good deal if not better than Poseidon?Go for it guys.