RBM - Redbank Mines
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ALFguy
Trading gives me a headache
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malakie_s said:
Care to point out where?
Just thought I would post a brief timetable of what to expect for RBM this week and maybe into next week as well:
From the 24th January announcment we know the following news is due:
- ASSAYS from 5 holes PUNCHBOWL from Dec-Jan2006 drilling: Redbank will release further results from another five Punchbowl holes drilled as part of the latest drilling program, as they become available.
- ASSAYS from 2 holes BLUFF from Dec-Jan2006 drilling: Results to date demonstrate the quality and consistency of the copper mineralisation style at the Bluff, being one of the two breccia pipe deposits being tested in this round of drilling. Redbank is yet to receive results from the final two holes drilled.
A further two diamond holes planned for the same purposes at the Sandy Flat open pit have been deferred until after the end of the wet season.
- SANDY FLAT ASSAYS: A series of 10 vertical holes have also been completed to test the grades of approximately 400,000 – 500,000 tonnes of material previously classified as mineralized waste rock and waste from the Sandy Flat pit mined in the mid 1990’s. Assay results are expected in early February.
- Entitlement 16th February closing date / Placement offer 23rd February: Pending results from the drilling programme completed in mid January at Redbank, the Company announced on 19 January 2007 that the closing date for the entitlement issue has been extended until 16 February and the placement offer until 23 February (the placement may close prior to this date at any time without notice).
DRILLING PLAN NEWS DUE as well maybe (?):
MEDIA RELEASE 08 FEBRUARY 2007
REDBANK DRILLING CONFIRMS MAJOR NEW SULPHIDE ZONE OPEN AT DEPTH
INDICATES SIGNIFICANT DISSEMINATED COPPER SULPHIDES AT PUNCHBOWL DEPOSIT FROM NEARSURFACE
Redbank Mines Limited (ASX: RBM) plans to accelerate test drilling of a new broad zone of disseminated copper sulphide at one of the key copper deposits at its wholly-owned Redbank Copper Project in the Northern Territory, following RC drilling results which indicate the zone extends from near surface to below 290m in depth. The latest results from drilling of the Punchbowl deposit include the following intercepts from adjacent holes:
• 65m @ 1.0% Cu from 19m; and
• 22m @ 1.4% Cu from 50m.
The drill hole producing the 65m intercept was terminated in mineralisation with the last 13m assaying 1.5% copper. These results are consistent with a nearby 1975 diamond core drill hole that returned results of 120m @ 1% Cu from 38m and 92m @ 0.9% Cu from 200m.
These latest results and the 1975 drill hole intercepts indicate the copper sulphide mineralised zone at Punchbowl is broad and remarkably consistent in grade to a depth below 290m. The Perth-based copper producer will now test, as a priority, both the depth and lateral extent of the newly identified disseminated copper sulphide zone at Punchbowl. “The confirmation of significant disseminated sulphide mineralisation at Punchbowl is extremely encouraging,” Redbank’s Managing Director, Mr Gino Vitale said. “The results complement the excellent grades and consistent mineralisation we also encountered at the Bluff deposit during this program, but our priority now is to test this significant new copper sulphide zone at Punchbowl.” (Maybe this needs to wait until the wet season is over ....?)
_________________________________________________________________
That covers Copper objectives 1) as listed in the Quarterly activities report:
"Exploration priorities at Redbank are;
(1) testing depth and some lateral extensions of the defined resources at the Bluff, Punchbowl and Sandy Flat breccia pipes;"
There is also the following and including Target 16 whose Cu reading shows an actual 8% (anyone know of any map showing Target 16?)
(2) following up on the near surface high grade drill hole intercepts at Airport Valley, Azurite and the historical Redbank workings, (which are all outside the defined resources), and,
(3) assessing existing exploration targets in the surrounding tenement ERL 94.
Any thoughts anyone?
From the 24th January announcment we know the following news is due:
- ASSAYS from 5 holes PUNCHBOWL from Dec-Jan2006 drilling: Redbank will release further results from another five Punchbowl holes drilled as part of the latest drilling program, as they become available.
- ASSAYS from 2 holes BLUFF from Dec-Jan2006 drilling: Results to date demonstrate the quality and consistency of the copper mineralisation style at the Bluff, being one of the two breccia pipe deposits being tested in this round of drilling. Redbank is yet to receive results from the final two holes drilled.
A further two diamond holes planned for the same purposes at the Sandy Flat open pit have been deferred until after the end of the wet season.
- SANDY FLAT ASSAYS: A series of 10 vertical holes have also been completed to test the grades of approximately 400,000 – 500,000 tonnes of material previously classified as mineralized waste rock and waste from the Sandy Flat pit mined in the mid 1990’s. Assay results are expected in early February.
- Entitlement 16th February closing date / Placement offer 23rd February: Pending results from the drilling programme completed in mid January at Redbank, the Company announced on 19 January 2007 that the closing date for the entitlement issue has been extended until 16 February and the placement offer until 23 February (the placement may close prior to this date at any time without notice).
DRILLING PLAN NEWS DUE as well maybe (?):
MEDIA RELEASE 08 FEBRUARY 2007
REDBANK DRILLING CONFIRMS MAJOR NEW SULPHIDE ZONE OPEN AT DEPTH
INDICATES SIGNIFICANT DISSEMINATED COPPER SULPHIDES AT PUNCHBOWL DEPOSIT FROM NEARSURFACE
Redbank Mines Limited (ASX: RBM) plans to accelerate test drilling of a new broad zone of disseminated copper sulphide at one of the key copper deposits at its wholly-owned Redbank Copper Project in the Northern Territory, following RC drilling results which indicate the zone extends from near surface to below 290m in depth. The latest results from drilling of the Punchbowl deposit include the following intercepts from adjacent holes:
• 65m @ 1.0% Cu from 19m; and
• 22m @ 1.4% Cu from 50m.
The drill hole producing the 65m intercept was terminated in mineralisation with the last 13m assaying 1.5% copper. These results are consistent with a nearby 1975 diamond core drill hole that returned results of 120m @ 1% Cu from 38m and 92m @ 0.9% Cu from 200m.
These latest results and the 1975 drill hole intercepts indicate the copper sulphide mineralised zone at Punchbowl is broad and remarkably consistent in grade to a depth below 290m. The Perth-based copper producer will now test, as a priority, both the depth and lateral extent of the newly identified disseminated copper sulphide zone at Punchbowl. “The confirmation of significant disseminated sulphide mineralisation at Punchbowl is extremely encouraging,” Redbank’s Managing Director, Mr Gino Vitale said. “The results complement the excellent grades and consistent mineralisation we also encountered at the Bluff deposit during this program, but our priority now is to test this significant new copper sulphide zone at Punchbowl.” (Maybe this needs to wait until the wet season is over ....?)
_________________________________________________________________
That covers Copper objectives 1) as listed in the Quarterly activities report:
"Exploration priorities at Redbank are;
(1) testing depth and some lateral extensions of the defined resources at the Bluff, Punchbowl and Sandy Flat breccia pipes;"
There is also the following and including Target 16 whose Cu reading shows an actual 8% (anyone know of any map showing Target 16?)
(2) following up on the near surface high grade drill hole intercepts at Airport Valley, Azurite and the historical Redbank workings, (which are all outside the defined resources), and,
(3) assessing existing exploration targets in the surrounding tenement ERL 94.
Any thoughts anyone?
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reading this morning's papers and RBM gets a mention in most of them, it made the insider in the Daily Telegragh. Also made the Australian Financial Review, The Australian. Also articles yesterday from The Age, SMH, and a good interview on Boardroom Radio (BRR). So hopefully the press exposure drums up some more interest in this one.
Remember currently producing copper and with huge exploration upside to add to the 65,000 tonnes of copper resource.
Also very promising high grade gold intercepts from the Mt Kasi gold project in Fiji which adds another string to the bow.
With over $500 million in current in-ground resources, which doesn't factor in the recent drill results. And only a relatively small market cap it certainly has some serious upside potential.
Anyone else have any views?
Remember currently producing copper and with huge exploration upside to add to the 65,000 tonnes of copper resource.
Also very promising high grade gold intercepts from the Mt Kasi gold project in Fiji which adds another string to the bow.
With over $500 million in current in-ground resources, which doesn't factor in the recent drill results. And only a relatively small market cap it certainly has some serious upside potential.
Anyone else have any views?
The extent to which buyers have ignored RBM is astoundingly laughable.
They will pour into most stocks on the merest hint of a rumour or lie, will buy anything anywhere near Rocklands, or at any barely audible mention of CDU, but have yet to perceive what the initial assay finds for RBM might mean.
RBM has yet to confirm Cu volumes, but we are seeing progressive drilling with consistantly positive results and very high grades, and they are 400km NW of CDU.
:car:
MHO - DYOR
They will pour into most stocks on the merest hint of a rumour or lie, will buy anything anywhere near Rocklands, or at any barely audible mention of CDU, but have yet to perceive what the initial assay finds for RBM might mean.
RBM has yet to confirm Cu volumes, but we are seeing progressive drilling with consistantly positive results and very high grades, and they are 400km NW of CDU.
:car:
MHO - DYOR
Looks like the Chinese have started restocking their copper supplies and with RBM being one of the most exciting junior copper explorers this can only draw more attention to the stock. With the next drill campaign starting shortly and with the price of copper rising strongly over the last couple of days any new discovery will send it to the races.
Remember RBM is already producing copper so any price increase is just more money in the bank for exploration.
The following was taken from bloomberg overnight
Copper Rises Most in Six Months on Chinese Demand Expectations
By Brett Foley
Feb. 22 (Bloomberg) -- Copper rose the most in more than six months in London on speculation that demand from Chinese buyers will keep expanding. Lead advanced to a record and tin reached its highest in 17 years.
Copper trading on the Shanghai Futures Exchange will resume on Feb. 26 after the weeklong Lunar New Year holiday. Chinese imports of copper and copper products jumped 44 percent in January from a year earlier, customs data showed Feb. 12. Chinese refined-copper imports in January were about 132,000 metric tons, almost double last year's average monthly imports of 69,000 tons, Macquarie Bank Ltd. said Feb. 19.
``We expect to see, post the Chinese New Year, more activity by Chinese buyers in the copper market,'' said Daniel Brebner, an analyst at UBS AG in London. ``We do expect to see considerable strength in copper over the next quarter or so.''
Copper for delivery in three months on the LME advanced $280, or 4.8 percent, to $6,070 a metric ton as of 2:21 p.m. local time. The contract earlier rose as much as 5.4 percent, the biggest intraday gain since Aug. 4. Today's gain pared this year's losses to 4.1 percent.
``The market is still expecting to see substantial restocking by the Chinese,'' said Andrew Silver, a trader with Natexis Commodity Markets Ltd., one of 11 companies trading on the floor of the London Metal Exchange.
Remember RBM is already producing copper so any price increase is just more money in the bank for exploration.
The following was taken from bloomberg overnight
Copper Rises Most in Six Months on Chinese Demand Expectations
By Brett Foley
Feb. 22 (Bloomberg) -- Copper rose the most in more than six months in London on speculation that demand from Chinese buyers will keep expanding. Lead advanced to a record and tin reached its highest in 17 years.
Copper trading on the Shanghai Futures Exchange will resume on Feb. 26 after the weeklong Lunar New Year holiday. Chinese imports of copper and copper products jumped 44 percent in January from a year earlier, customs data showed Feb. 12. Chinese refined-copper imports in January were about 132,000 metric tons, almost double last year's average monthly imports of 69,000 tons, Macquarie Bank Ltd. said Feb. 19.
``We expect to see, post the Chinese New Year, more activity by Chinese buyers in the copper market,'' said Daniel Brebner, an analyst at UBS AG in London. ``We do expect to see considerable strength in copper over the next quarter or so.''
Copper for delivery in three months on the LME advanced $280, or 4.8 percent, to $6,070 a metric ton as of 2:21 p.m. local time. The contract earlier rose as much as 5.4 percent, the biggest intraday gain since Aug. 4. Today's gain pared this year's losses to 4.1 percent.
``The market is still expecting to see substantial restocking by the Chinese,'' said Andrew Silver, a trader with Natexis Commodity Markets Ltd., one of 11 companies trading on the floor of the London Metal Exchange.
For those of you that currently hold RBM you should go to the company website and have a good read of the recent in depth research report.
Some of the more important info is as follows:
-Valuation of 30.6c when using forward copper prices
-Cash flow positive this year
-Sandy Flat resource expected to be 2 to 3 times larger than already announced, not to mention the other breccia pipes yet to be explored
-Mt Kasi could hold several million ounces of gold
-Earnings of 2.8cps in FY08 which puts it a PE of only 5.5 at current share price for next years earnings
-No premium is added for the additional discoveries to come
When you put this all together the current share price of only 15.5c doesn't even value the company at its production value let alone any further copper or gold discoveries.
It may come under a little sp pressure from the short term traders but remember the big picture they are potentially sitting on several billion dollars of copper and gold.
With the positive cashflow from this year the capital structure will be kept tight so when the shortminded sell out after the rights issue it will be a matter of time before the excess is mopped up and the sp will start heading north.
With the next drilling program to be much more detailed than previous ones there will be plenty of news to kept everyone interested heading into the second quarter.
I remember reading around the start of the new year that a couple of brokers had named RBM as one of their Spec of the Year so as soon as we get into the next drilling campaign watchout!!
Remember DYOR
Some of the more important info is as follows:
-Valuation of 30.6c when using forward copper prices
-Cash flow positive this year
-Sandy Flat resource expected to be 2 to 3 times larger than already announced, not to mention the other breccia pipes yet to be explored
-Mt Kasi could hold several million ounces of gold
-Earnings of 2.8cps in FY08 which puts it a PE of only 5.5 at current share price for next years earnings
-No premium is added for the additional discoveries to come
When you put this all together the current share price of only 15.5c doesn't even value the company at its production value let alone any further copper or gold discoveries.
It may come under a little sp pressure from the short term traders but remember the big picture they are potentially sitting on several billion dollars of copper and gold.
With the positive cashflow from this year the capital structure will be kept tight so when the shortminded sell out after the rights issue it will be a matter of time before the excess is mopped up and the sp will start heading north.
With the next drilling program to be much more detailed than previous ones there will be plenty of news to kept everyone interested heading into the second quarter.
I remember reading around the start of the new year that a couple of brokers had named RBM as one of their Spec of the Year so as soon as we get into the next drilling campaign watchout!!
Remember DYOR
looks like the effect of the rights issue hasn't hit RBM as hard as first thought a little bit of a down day but not to bad. I guess alot of the rights stock went to existing long term holders.
With copper production started and with expansion on the way it is good to see the current positive press regarding future copper prices, once the rights issue is digested it will be onwards and upwards.
With the company finalising the rights issue they have the funds for a major exploration push plus production expansion, should be an exciting couple of months as they have barely started exploring and are already sitting of $500+ million of copper and gold.
With such a small market cap it won't take long for the market and other companies to realise the value of RBM.
Also don't forget they have a high grade gold deposit in Fiji with exploration due to restart shortly.
The following is taken from Bloomberg Today
Shanghai Copper Rises Limit on Expectation of Demand From China
By Helen Yuan
Feb. 26 (Bloomberg) -- Copper futures in Shanghai rose the daily limit of 4 percent to the highest in seven weeks as trading resumed after the week-long Lunar New Year holiday amid speculation of increased demand from China, the world's biggest user of the metal.
Copper prices in London rose 8.5 percent to $6,306 a metric ton last week, the biggest weekly gain since July and New York prices had their largest increase since May as traders anticipated demand will increase when the Chinese market reopens and enters the peak annual consumption period.
``Almost every year Shanghai prices surge when buying resumes after the week-long New Year holiday. The peak season is coming for copper consumption in building,'' said Cai Luoyi, head of research at China International Futures (Shanghai) Co., by phone.
Copper for delivery in April on the Shanghai Futures Exchange rose 2,220 yuan to 57,720 yuan ($7,454) a ton, the highest since Jan. 4, after the market opened at 9:00 a.m. local time. The contract stayed at that level.
London prices may rise this week, according to a Bloomberg survey last week. Of the 25 people surveyed, 21 forecast gains, three expected a drop and one saw little change.
London Metal Exchange copper for delivery in three months rose 0.6 percent to $6,346 a ton at 9:48 a.m. Shanghai time
With copper production started and with expansion on the way it is good to see the current positive press regarding future copper prices, once the rights issue is digested it will be onwards and upwards.
With the company finalising the rights issue they have the funds for a major exploration push plus production expansion, should be an exciting couple of months as they have barely started exploring and are already sitting of $500+ million of copper and gold.
With such a small market cap it won't take long for the market and other companies to realise the value of RBM.
Also don't forget they have a high grade gold deposit in Fiji with exploration due to restart shortly.
The following is taken from Bloomberg Today
Shanghai Copper Rises Limit on Expectation of Demand From China
By Helen Yuan
Feb. 26 (Bloomberg) -- Copper futures in Shanghai rose the daily limit of 4 percent to the highest in seven weeks as trading resumed after the week-long Lunar New Year holiday amid speculation of increased demand from China, the world's biggest user of the metal.
Copper prices in London rose 8.5 percent to $6,306 a metric ton last week, the biggest weekly gain since July and New York prices had their largest increase since May as traders anticipated demand will increase when the Chinese market reopens and enters the peak annual consumption period.
``Almost every year Shanghai prices surge when buying resumes after the week-long New Year holiday. The peak season is coming for copper consumption in building,'' said Cai Luoyi, head of research at China International Futures (Shanghai) Co., by phone.
Copper for delivery in April on the Shanghai Futures Exchange rose 2,220 yuan to 57,720 yuan ($7,454) a ton, the highest since Jan. 4, after the market opened at 9:00 a.m. local time. The contract stayed at that level.
London prices may rise this week, according to a Bloomberg survey last week. Of the 25 people surveyed, 21 forecast gains, three expected a drop and one saw little change.
London Metal Exchange copper for delivery in three months rose 0.6 percent to $6,346 a ton at 9:48 a.m. Shanghai time
Hey AJ,
I sent an email to Jerome Vitale tonight regarding development timeframe and exploration drilling, also I was trying to encourage him to release an updated company presentation including the companies view on the recently completed Redbank Copper Project drilling.
I think the company just needs to get the message out about how confident they are in regards to the exploration potential of Redbank, Jerome said as much on Boardroom Radio he just needs to let the rest of the market know by way of company presentation or institutional roadshow.
I am expecting an announcement soon in regards to the scoping study for the stage 2 expansion at Redbank, also the next round of drilling at Redbank (copper) and Mt Kasi (gold).
I can't remember where I read it but someone was saying that the same broker that was involved with CDU wants to champion RBM cause, I don't know if that is true but if it is we could see some fireworks shortly.
I will keep you guys informed with Jerome's response.
I sent an email to Jerome Vitale tonight regarding development timeframe and exploration drilling, also I was trying to encourage him to release an updated company presentation including the companies view on the recently completed Redbank Copper Project drilling.
I think the company just needs to get the message out about how confident they are in regards to the exploration potential of Redbank, Jerome said as much on Boardroom Radio he just needs to let the rest of the market know by way of company presentation or institutional roadshow.
I am expecting an announcement soon in regards to the scoping study for the stage 2 expansion at Redbank, also the next round of drilling at Redbank (copper) and Mt Kasi (gold).
I can't remember where I read it but someone was saying that the same broker that was involved with CDU wants to champion RBM cause, I don't know if that is true but if it is we could see some fireworks shortly.
I will keep you guys informed with Jerome's response.
- Status
