RBM - Redbank Mines

[mick2006]

Good to see that the expected dump of rights issue stock didn't occur. It is also very positive that the rights issue was oversubscribed by 4 times and the shortfall issue was oversubscribed by 5 times. What that means is that the people who missed out or wanted more need to get it from the market and will slowly chew up the resistance heading forward.

As for the support level looks like people are happy to snap up anything around 15c, if this level holds it will mean another higher low after the retracement after the last announcement which is a positive sign going forward.

All we need now is the announcement of the next drilling campaign and the shareprice will get a nice kick along.

As for takeover speculation I would like to see a recent top 20 shareholder report or a change in substantial holding before I believe that it is being professionally bought up!

All in All am feeling more confident today in the fact the dumping of rights stock did not occur:

 

[Atomic5]

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.

Agree. The silence is killing the share price.

 

[mick2006]

Good to see RBM bounce of the previous support level at 13c with some nice volume being absorbed. A bit of a recovery currently underway with a few larger buy orders at 13-13.5c, hopefully this level will hold and a push upwards will begin after the market correction has run its course.

 

[mick2006]

Good to see it is now higher than before the sell off yesterday not sure how many stocks can boast that. Also the sell side has been thining out over the last couple of days without exact numbers I would say around 2 million have been soaked up. With the market implosion yesterday and the worry about the sell down of the rights issue stock RBM has stood up very well.

Now just awaiting news on the next drill campaign at Redbank (copper) and Mt Kasi (gold) and it should continue to press higher.

Currently up 15% today!!

 

[mick2006]

interesting price action developing today alot of support now above the intraday low on wednesday, 2.3 million buyers now above 12.5c. With some serious buying going on between 15-15.5c. Tried ringing the company to get some information about drilling going forward and was told no-one was available and that they were currently onsite at Redbank in the N.T, could this be the institutional roadshow that everyone has been hoping for? If so it could explain the recent trend of short bursts of high volume. If could be broker clients picking up chunks of the stock.

 

[angela200172]

interesting price action developing today alot of support now above the intraday low on wednesday, 2.3 million buyers now above 12.5c. With some serious buying going on between 15-15.5c. Tried ringing the company to get some information about drilling going forward and was told no-one was available and that they were currently onsite at Redbank in the N.T, could this be the institutional roadshow that everyone has been hoping for? If so it could explain the recent trend of short bursts of high volume. If could be broker clients picking up chunks of the stock.

At 1.38pm RBM SP up 2c 14%, the XAO still weak, but RBM looks very strong, well done, I belive an up trend starts from now. Good luck for us, RBM shareholders.

 

[mick2006]

some very large buy order appearing out of nowhere, something is definately going on. Good to see how RBM has shaken off the concern steming from the rights issue with an 87% take up it seems longer term holders got the bulk and a not going to give it up cheaply, also the concern with the large falls on global markets seems to have strengthened the buyers confidence not destroyed it. I wouldn't know to many shares that would be higher than on the close of business on Tuesday.

All in All very encouraging signs, with a hint of mystery for the sudden interest!!

 

[Atomic5]

I sent an email to Jerome Vitale tonight .....

Maybe you could send them an email again now suggesting they suspend the stock and call ASIC. The share price is being looted

 

[megla]

I belive an up trend starts from now. Good luck for us, RBM shareholders.

And now what do you believe?

I'm holding

 

[Sean K]

And now what do you believe?

I'm holding

Good one.

But why still hold? Looks to be just going down to me.

I hope you holders get some good news soon, if that's what you're waiting for.....

 

[Atomic5]

And now what do you believe?

I'm holding

I believe I recognise the old insider-trader price dump before announcement - now 16cents

edit: ..... either more copper or inst. buying or both ??? no ann.

 

[AJ_]

hi...

Any reasons for the large spike in price all of a sudden??

I think the recent sell down is due to the placement for insitutions...often do that to gte a lower weighted price.

I reckon drill results will be out soonish!

I'm really curious

 

[Atomic5]

Im really very happy

Many holders are curious as to the north west tendency of CDU's Rocklands.
Pure speculation, but drill results for RBM have been very good so far.

 

[Sean K]

Good one.

But why still hold? Looks to be just going down to me.

I hope you holders get some good news soon, if that's what you're waiting for.....

Next day up 30%. Classic. Must be the ann that no one knows about to be released.

 

[stiger]

A few weeks ago there were alleged brokers crawling all over the rbm site.Any connection?Cheers

 

[Atomic5]

yeah maybe they saw the core colour of the drill results OR they were just the auditors

 

[AJ_]

touched 17 cents today... wont be long till results are out ! hope you are all still holding

 

[AJ_]

start of drill results.. more to come !

15 May 2007
New Breccia Pipe: 64m at 2.5% Copper
from Surface; Sulphides at Depth
Redbank Mines Limited (ASX: “RBM”) is pleased to report
the initial results from RC drilling completed in April 2007 at
the historical Redbank prospect, henceforth called the
“Redbank Target Area”. Results have been received for
the first 4 holes as shown in Table 1. RC Hole RB07- 4
returned 64m at 2.5% copper from surface and logging of
diamond core from Hole RB07- 8 shows evidence of
sulphide mineralization from a vertical depth of 200
metres.
Table 1 also includes results from diamond core assays from
hole RDH 33 which returned 77 metres at 2.6% Cu from
surface. This hole was drilled in the 1970’s but has
previously not been reported by RBM due to uncertainty of
its collar position, now clarified by recent field work
completed by the Company.
The context and significance of results from hole RDH 33
and other historical holes that have been previously reported
by RBM, namely RDH 40 and RDH 44 which returned 30.5
metres at 2.4% Cu from surface and 24.5 metres at 2.3%
Cu from 6 metres respectively, are now apparent in terms of
the definition of a new breccia pipe at the Redbank Target
Area (refer Figures 1 and 2 and note 2 to Table 1).
The historical surface workings at the Redbank Target Area
are at the site of small scale very high grade near surface
mining activities carried out in the first half of the 20th
Century. A limited amount of shallow, mainly percussion
drilling was carried out in the vicinity of the old workings by a
subsidiary of Newmont in the 1970’s.
The objective of the March/April 2007 drilling carried out by
RBM was to test for depth extensions to the near surface
historical workings and to establish if they were the surface
expression of another deep seated copper mineralised
breccia pipe similar to the copper rich pipes at Sandy Flat
and Bluff. The Redbank Target Area is outside the current
JORC classified Mineral Resource inventory previously
published for the Redbank Copper Project of 4.23 million
tonnes at 1.5% Cu for 65,000 tonnes of contained tonnes
of copper (refer 2006 Annual report at page 6).
Redbank Mines Limited
ASX Announcement 15 May 2007 2
Core from Redbank drill hole RB07-8 at 280.7m down hole, showing brecciation, calcite veining
and sulphides, about 1.5 times magnification.
RB07-8 Tray 44 from 277.18-281.78 Showing extensive pipe style brecciation, calcite veining with
sulphides.
The assay results to date in conjunction with the drill hole logging by the Company’s geologists clearly
demonstrate that the surface workings at the Redbank prospect are the surface expression of a deep
seated mineralised breccia pipe. The attitude of the pipe dips steeply to the south and consequently was
just missed by RBM’s holes RB07-1, 2 and 3, but intersected by RB07-4 reported above (refer section at
Figure1). These results are consistent with the shallow 1970’s drilling.
A broad intersection of brecciation and associated sulphides is evident from examination of the deep
diamond core from hole RB07- 8 completed in April 2007. This suggests the mineralised breccia pipe
either becomes vertical or near vertical down at a vertical depth from 200 to 250m. Assays from this drill
hole and the remaining other 2 RC drill holes at the Redbank Target Area are still pending.
Redbank Mines Limited
ASX Announcement 15 May 2007 3
Further results from the Azurite (15 RC holes and 1 Diamond hole) and Punchbowl (3 RC Holes and One
Diamond hole) areas drilled in March/April 2007 are also pending. RC results are anticipated during the
course of the next 2-3 weeks and diamond core results expected shortly after.

 

[Flipper15]

Hi guys

I have not posted much on this site but thought I would alert you to some new Aegis Equity reports on the RBM website.

Their new valuation is 33 cents and the new resource estimate for the Redbank Copper Project is due out in 6 -8 weeks.

I thought yesterdays results were very good and sooner or later this must be rerated.

Maybe the new resource estimate will be the trigger.

Flipper

 

[AJ_]

Aegis Report valuing RBM at 33 cents . currently trading at 15 cents.

When will people wake up and realised that this is a good company to invest in ??

report here: http://www.redbankmines.com.au/File/177/