MRD - Mount Ridley Mines

[YOUNG_TRADER]

]

AXC​

Mkt Structure

Shares
60m + 45m 20c 30/6/08 Options

Mkt Cap @ 15c = $9m
Mkt Cap @ 30c = $31m (Includes $9m worth of options)
Mkt Cap @ 45c = $47m (Includes $9m worth of options)



Cash
$2m + $800k over this year from the royalty of gold production as well as $9m from opies


Projects

Gum Well Uranium, 100%, W.A.

To the West of Lake Raeside/ Peninsula Deposit (Inferred JORC 7Mt@0.035% U)
Previous exploration yielded assays of 0.01%-0.02% U as well as 0.05%-0.16% U


Other Uranium 100%, W.A.
Some other very early stage licences


Summary
I took a small punt primarily because the Gum Well licence is ready to begin drilling, it is to the west of a substantial Uranium deposit and previous work has shown the Uranium channel continues into Gum Well,
Due Dilligence should be finished very shortly, after which I expect immediate work to start

Very very high risk spec play

 

[YOUNG_TRADER]

Re: AXC - AXG Mining

Ann it has just completed the acquisition of the Uranium projects, work is about to commence at Gum Well which as I have stated is just to the West of Lake Raeside/ Peninsula Deposit (Inferred JORC 7Mt@0.035% U)
Previous exploration yielded assays of 0.01%-0.02% U as well as 0.05%-0.16% U

With a mkt cap still under $9m and $2m in cash this offers plenty of spec upside should there work uncover anything

 

[nizar]

Re: AXC - AXG Mining

YT iv got oppies are being 31-08-2010 expiry??

20c oppies would be great exposure, i expected them to be priced closer to 1c though considering the heads are at 13.5c. 5c is a bit steep IMO..

 

[alankew]

Re: AXC - AXG Mining

This has been steadily on the increase over the last couple of weeks and has also managed a reasonable gain today(10% but not very high volume)Might be keeping an eye on as it should have some results due soon,maybe news leaking on this front

 

[alankew]

Re: AXC - AXG Mining

Another good day so far for this-currently up 12% but on volume of 9million as opposed to ususal daily of up to 900k,results coming YT?Needs to break 20c to overcome short term previous high then its blue sky till 35c which was back in December 05.Only 350k available on the sell side

 

[YOUNG_TRADER]

Re: AXC - AXG Mining

Another good day so far for this-currently up 12% but on volume of 9million as opposed to ususal daily of up to 900k,results coming YT?Needs to break 20c to overcome short term previous high then its blue sky till 35c which was back in December 05.Only 350k available on the sell side

9m was an off market cross trade at 15c, so if you take that out its done 130k which is just above usual volumes,

This is a small spec holding for me, I don't really pay too much attention to it, will wait till next year or the year after to see what happens

 

[YOUNG_TRADER]

Re: AXC - AXG Mining

Doing very well, has broken up through 20c, I'm taking some profits though as being a W.A. U stock there is still risk

Anyone else riding this?

Alan, what are you doing?

 

[alankew]

Re: AXC - AXG Mining

YT still in it-quite a decent rise today and over the last few days/weeks.Also sell side looks positively anorexic!Surely some results must be on the way by now

 

[alanding]

Re: AXC - AXG Mining

no one want to sell according to the depth.
the only seller is 20,777@0.350
maybe big big positive new is coming

 

[alankew]

Re: AXC - AXG Mining

Another up day at the moment-up 10% but has been as high as up 4c,options are up another 2c or 20%.Roughly the same amount of options bought as heads-is this normal.Currently about to break out above a 2 year high.Worth watching

 

[iam_dominic]

Re: AXC - AXG Mining

Recently recovered quite nicely

up up and away!

any one following.. are we looking at an potential breakout?

 

[System]

On December 5th, 2014, AXG Mining Limited (AXC) changed its name and ASX code to Mount Ridley Mines Limited (MRD).

 

[Stockbailx]

Got this one on my watch-list, showing significant Volume, they have a couple of projects on board, that are at presently all mapped out and planned as they are looking ready to strike;
The Mount Ridley project represents an area with the potential for the discovery of massive nickel and copper sulphide mineralisation.
Mount Ridley’s Weld Range West Project covers the SW portion, approximately 20%, of the overall the Weld Range. The Project is considered very prospective for direct shipping iron ore. Coming from a support level. Offering 0.004c. I dare say it will prospect forward and advance well...

Mount Ridley Mines – WA Exploration Minerals – Rare Earth Elements

mtridleymines.com.au

 

[Dona Ferentes]

this Announcement came out over a month ago, but had little impact on the market:

Mount Ridley Mines Ltd is pleased to provide the following update on its 100% owned Mount Ridley Project.

HIGHLIGHTS
• Laterally extensive rare earth element (REE) deposits identified at 100% owned Mount Ridley Project, located from 35 km northeast of the port of Esperance, Western Australia. Model is ionic adsorption clay.
• Re-assay of 950 air core samples (162 pending) returned significant REE values over an apparent strike in excess of 25 km with over 20 samples returning >1,000 ppm TREO. Mineralisation remains open in all directions with a peak value so far at the Keiths Prospect from MRAC0711 with 10,461ppm (1.05%) from 23m downhole.

So now the newsletter crowd are in on the story, pushing the pluses

The Mount Ridley project was not originally pegged for its rare earths potential. It was identified for nickel and copper sulphides and the company had started looking for opportunities that would allow it to gain exposure to clean energy and green economy space, company secretary Peter Christie told Stockhead.

As luck would have it, one of the company consultants indicated to the company that the project had the hallmarks of hosting rare earths.
It was a very simple process for us to rerun some samples and the results of those samples which confirmed the presence of significant rare earths, he noted.

Looking ahead, the company is waiting for the re assay results for the remaining 160 samples.
We have a geochemist who will help us map the profiles, understand what rocks we are in and understand where we are in the clay profile.
And then we will also kick off the metallurgy and once we do that, we are going to see which of the elements are going to come out easily and which are harder. Then we can tailor our exploration process accordingly."

https://stockhead.com.au/resources/ionic-cl...Fwww.google.com

 

[peter2]

MRD have got no money. They recently raised about $1Mill at a price of 0.0015/share. The "pro" investors have been able to sell the shares on the market at 0.003 - 0.004 making a quick tidy profit from their "investment".

MRD are hoping to find more evidence of a REE resource on their ground.

 

[Dona Ferentes]

Mount Ridley Mines has received firm commitments for a placement to raise $1,744,412 from sophisticated and professional investors
• Funds raised will be utilised for target definition and subsequent drilling at the Mount Ridley Project

Funds have been committed at a price of $0.004 per share, and will be primarily used to fund exploration activities , including target definition and subsequent drilling, at the namesake Mount Ridley Project where Rare Earth Element (REE) mineralisation has been identified.

 

[Dona Ferentes]

DRILLING UNDERWAY AT THE MT RIDLEY RARE EARTH DEPOSIT

MRD provides the following update (16 March)

• Stage 1 - Primary Target Infill Drilling has commenced at the Mt Ridley Rare Earth Project, targeting ionic adsorption clay-styled rare earth element (REE1) mineralisation at the high priority Winston’s Prospect.
• This will be followed by a substantial Stage 2 “Regional” 1,000-hole aircore program, along an existing network of tracks within a 750km2 (approximately 40km x 20km) area, over the next 5 months. Results will be used to outline the potential scale of the project and to rank areas of REE mineralisation for more detailed evaluation.
• Mount Ridley’s environmental consultant is concurrently advancing the required submissions to enable higher density Stage 3 “Primary Target Expansion” drilling, which will then follow.

 

[frugal.rock]

I see @Dona Ferentes beat me to this one? ?
From the same announcement as above, (16th Mar, 2022)

Mount Ridley’s Chairman Mr. Peter Christie commented:

“It’s an exciting time for the Company as the first rare earth element-specific drilling gets going at our Mt Ridley
project, expanding on the excellent assay results reported to date.
The Mt Ridley team has done some excellent work in completing a detailed Heritage Management Plan and Programs of Work submissions in preparation for this drilling campaign.
“The Company is well funded and has committed to rapidly exploring the project for rare earth elements through substantial but judicious drilling programs executed in a staged approach.
The aim of the drilling stages proposed is to outline a rare earth element project of significant scale.”

@peter2 this one qualifies as a barcode ?
Hopefully there's a price discount when scanning at the checkout ?
Nice block stepups over the last few months.

 

[Dona Ferentes]

I see @Dona Ferentes beat me to this one? ............

@peter2 this one qualifies as a barcode .
Nice block stepups over the last few months.

If it can hold 1c, I might even tip it in the Comp

 

[frugal.rock]

EXCELLENT DRILLING RESULTS EXPAND RARE EARTH MINERALISATION FOOTPRINT AT THE MT RIDLEY PROJECT

2 August 2022
Mount Ridley Mines Limited (ASX: MRD), (“the Company”) is pleased to provide an update following the receipt of the first group of assay results from its inaugural drilling programme specifically targeting clay-hosted rare earth element (REE) mineralisation.

Highlights
Central zone of REE targets extended to 30 kilometres long by 11 kilometres wide, with regional drilling identifying 2 new targets, the Jules and Vincent Prospects, which flank previously reported mineralisation at Winston’s and Keith’s.
Standout results from this first group of assays include:
Winston’s Extensions
• MRAC0872: 14m at 812 ppm TREO from 27m
• MRAC0893: 17m at 1043 ppm TREO from 40m
• MRAC0894: 11m at 1080 ppm TREO from 1m
• MRAC0895: 11m at 940 ppm TREO from 34m
• MRAC0896: 18m at 834 ppm TREO from 31m
• MRAC0898: 5m at 1027 ppm TREO from 52m
• MRAC1200: 12m at 938 ppm TREO from 6m
• MRAC1201: 9m at 1386ppm TREO from 24m

Vincent
• MRAC0920: 22m at 886ppm TREO from 24m including 12m at 1346 ppm TREO from 33m
• MRAC0927: 7m at 1525 ppm TREO from 60m
• MRAC0930: 9m at 1203 ppm TREO from surface
• MRAC0931: 7m at 1205 ppm TREO from 30m
• MRAC0932: 8m at 1055 ppm TREO from 21m
• MRAC0935: 7m at 1711 ppm TREO from 30m
• MRAC0942: 13m at 1620 ppm TREO from 22m
• MRAC0939: 7m at 1336 ppm TREO from 33m
• MRAC0980: 9m at 1393 ppm TREO from 48m

Jules
• MRAC0995: 8m at 1493 ppm TREO from 18m
• MRAC1003: 22m at 822ppm TREO from 36m including 12m at 1180 ppm TREO from 36m

Mount Ridley’s Chairman Mr. Peter Christie commented:
“With 30% of the assays received, we have confirmed that the REE mineralisation is very widespread within the Company’s tenements, and new targets with thick intervals of REE mineralisation grading above 800 ppm
TREO, and in some cases with TREO at more than 10,000ppm.metres, have been intersected at Vincent’s and
Jules’ Prospects.
“Winter rain has halted drilling, however the next phase of Regional Drilling, in the order of 20,000m of aircore, is permitted and will proceed when ground conditions improve over the coming months.
“In the meantime, we are looking forward to receiving the assays for the remaining 70% of our drill holes over
the next few months that are likely to generate more targets for follow up as the broader regional picture unfolds.”