RBM - Redbank Mines
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Hi folks,
I will share a bit of information of what is happening with RedBank.
The compony is accelarating the start up of the flotation plant and that is why they needed the money urgently and issued the shares at 11.5 c. They are not far from buying a second hand mill to support the processing of 500,000 tonnes of ore per annum. The mill will cost around $800,000. I am talking about the processing of the sulfides. The capital cost to refurbish the flotation plant will be in the range of $7,000.000 to $10,000,000.
The heap leach operations are very close to a start up apperantly the crushing circuit is not far from being commisioned. They are waiting on the enviromental approval as well.
I think the share value is quite atractive right now.
Cheers
Not much in the share price since the euphoria about 12 mths ago, little interest (vol) around 0.10
Excerpt from the Sept quarter report 2007 :
The Company anticipates deriving an operating surplus from copper production at the Redbank
Copper Mine during the December 2007 quarter. The anticipated operating surplus is expected to
make a positive contribution to the Company’s working capital requirements. In addition the
Company also plans to complete an equity based issue during the December quarter to provide
funds to complete a Definitive Feasibility Study at the Redbank Copper Project and to provide
funds for exploration activities.
Options
(description andconversion factor) Expiry date Exercise price
7,894,737 28 Feb 2008 $0.38
250,000 28 Feb 2010 $0.38
250,000 28 Feb 2010 $0.50
250,000 28 Feb 2010 $0.60
38,115,864 31 May 2008 $0.28
4,000,000 20 Dec 2008 $0.09
Apart from Glencore 4m @ 0.09, I don't see any joy for the other 2008 options, for RBM
Diligently working towards a return for holders.
I have not see any details released of the offer.
Cheers
DYOR
Excerpt from the Sept quarter report 2007 :
The Company anticipates deriving an operating surplus from copper production at the Redbank
Copper Mine during the December 2007 quarter. The anticipated operating surplus is expected to
make a positive contribution to the Company’s working capital requirements. In addition the
Company also plans to complete an equity based issue during the December quarter to provide
funds to complete a Definitive Feasibility Study at the Redbank Copper Project and to provide
funds for exploration activities.
Options
(description andconversion factor) Expiry date Exercise price
7,894,737 28 Feb 2008 $0.38
250,000 28 Feb 2010 $0.38
250,000 28 Feb 2010 $0.50
250,000 28 Feb 2010 $0.60
38,115,864 31 May 2008 $0.28
4,000,000 20 Dec 2008 $0.09
Apart from Glencore 4m @ 0.09, I don't see any joy for the other 2008 options, for RBM
Diligently working towards a return for holders.
I have not see any details released of the offer.
Cheers
DYOR
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Well I have been waiting to see what RBM would come out with in regards to their copper project and here it is,
production of 6,300 tonnes per annum
revenue based on resources in the top 100 metres alone
of over $196 million, and
EBITDA of $56 million over 5 years, with average project
annual EBITDA of $11.2 million.
NPV(8%) is $22.0m and IRR is 58.0%.
RBM has 130m shares on issue, so at 10c its mkt cap is $13m,
I have always viewed RBM as an exploration play, but maybe just maybe this may make it a producer/explorer
What do people think?
production of 6,300 tonnes per annum
revenue based on resources in the top 100 metres alone
of over $196 million, and
EBITDA of $56 million over 5 years, with average project
annual EBITDA of $11.2 million.
NPV(8%) is $22.0m and IRR is 58.0%.
RBM has 130m shares on issue, so at 10c its mkt cap is $13m,
I have always viewed RBM as an exploration play, but maybe just maybe this may make it a producer/explorer
What do people think?
With EBITDA of $11.2 mill for 5 years, that would make it look a little undervalued wouldn't you say?
Can anybody give this a realistic value on these latest figures. would be interested to hear any thoughts
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RBM ann that yesterdays figures were incorrect and it understated value, here are correct figures
31,500 tonnes of copper over 5 years, with average copper production of 6,300 tonnes per annum
Revenue based on resources in the top 100 metres alone of over $196 million, and
EBITDA of $60 million over 5 years, with average project annual EBITDA of $12.0 million.
NPV(8%) is $25.0m and IRR is 72.5%.
Starting to look even better for a company with 12 million market cap.
31,500 tonnes of copper over 5 years, with average copper production of 6,300 tonnes per annum
Revenue based on resources in the top 100 metres alone of over $196 million, and
EBITDA of $60 million over 5 years, with average project annual EBITDA of $12.0 million.
NPV(8%) is $25.0m and IRR is 72.5%.
Starting to look even better for a company with 12 million market cap.
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They certainly do look good, and with there claims to fast track production this explorer seems to be moving to a producer. I wonder why the market hasn't caught on to this . Or is RBM a dud? Or are there too many burnt fingers from its run to 30 cents?
. Or is RBM a dud? Or are there too many burnt fingers from its run to 30 cents?- Joined
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A strong increase in volume today. Maybe something is brewing. Maybe its just bargain hunter taking advantage of the price at such low levels. Surely it can remain near 8c.
So_Cynical
The Contrarian Averager
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That seems to be the case...the chart just dont look pretty.
I wonder how many company's come back from a big high to a low like now.
8 cents seems great value.
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Sorry, meant to say "Surely it can't remain near 8c for long"
Where are you guys getting 30c from. I can't see it hitting 23c on my charts in the last 2 years. 30c was a long time ago.
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RBM has just announced a JV for exploration with large global commodities trader Glencore,
The exploration covers a very large area over 800km² that is close to RBM's main Rebbank CU deposit/mining operation
The thing is RBM is cheap, its very very cheap,
It has shown via studies that its Redbank project has
NPV of 20c
EBITDA of 45c
vs a current SP of 9c!
An exploration company with RBM's projects and a JV with Glencore would carry a MKT cap of at least $15m vs RBM's current mkt cap of under $10m
I have watched RBM for awhile but am no jumping on board as it is a seriously undervalued COPPER PRODUCER, with also a good exploration focus
More research to come shortly
The exploration covers a very large area over 800km² that is close to RBM's main Rebbank CU deposit/mining operation
The thing is RBM is cheap, its very very cheap,
It has shown via studies that its Redbank project has
NPV of 20c
EBITDA of 45c
vs a current SP of 9c!
An exploration company with RBM's projects and a JV with Glencore would carry a MKT cap of at least $15m vs RBM's current mkt cap of under $10m
I have watched RBM for awhile but am no jumping on board as it is a seriously undervalued COPPER PRODUCER, with also a good exploration focus
More research to come shortly
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The company has 130m shares on issue
So with an NPV of $25m = 20c
So I can happily put a valuation of 20c on RBM based on Redbank alone (lol not much work on my part required)
What has me really puzzled is why would Glencore, a huge global commodities trader that owns a large % of Xstrata want a JV with RBM???????
This is a link for info on Glencore
http://en.wikipedia.org/wiki/Glencore
So with an NPV of $25m = 20c
So I can happily put a valuation of 20c on RBM based on Redbank alone (lol not much work on my part required)
What has me really puzzled is why would Glencore, a huge global commodities trader that owns a large % of Xstrata want a JV with RBM???????
This is a link for info on Glencore
http://en.wikipedia.org/wiki/Glencore
Attachments
What has me really puzzled is why would Glencore, a huge global commodities trader that owns a large % of Xstrata want a JV with RBM???????
I think RBM have real prospects in the current area and also they have a treatment plant they are refurbishing that could be utilised by glencore .As the joint venture is only 10 kms from the RBM treatment there would be huge costsavings
I think RBM have real prospects in the current area and also they have a treatment plant they are refurbishing that could be utilised by glencore .As the joint venture is only 10 kms from the RBM treatment there would be huge costsavings
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I have a mate at Glencore .. Glencore doesnt muck around they are big timers ... If they are doing something they are making money !
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Maybe Glencore wants to size them up to take them over?
The gold resource at Fiji is currently not valued into the shareprice and RBM was considering spinning it off. It looks like they are planning to drill to add some value to it to make it look better to investors.
If it stays at this level for long i expect someone to take a stab at RBM, and this someone will most likley be Glencore. Wasn't the NPV only based on the top 100m of copper, not anything under 200m, not the source of the pipes, or the project in Fiji...
For what its worth the Agis report valued this at 33c in May 07.
The gold resource at Fiji is currently not valued into the shareprice and RBM was considering spinning it off. It looks like they are planning to drill to add some value to it to make it look better to investors.
If it stays at this level for long i expect someone to take a stab at RBM, and this someone will most likley be Glencore. Wasn't the NPV only based on the top 100m of copper, not anything under 200m, not the source of the pipes, or the project in Fiji...
For what its worth the Agis report valued this at 33c in May 07.
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8 January 2008
Copper and Cobalt Breccia Pipe Confirmed at
Copperado, Redbank/Glencore JV
Field reconnaissance work completed by Redbank Mines
Limited on the Redbank /Glencore Joint Venture, to be
known as the Copperado Joint Venture, has confirmed the
presence of a copper and cobalt mineralised breccia pipe
similar in scale to the larger pipes of the Redbank area (C1
Pipe, Figure 1). Field analyses with a Niton XRF analyser
found 0.3 to 0.8% copper widespread in surface material in
and around the pipe and a small high grade vein of copper
mineralisation with 18% copper (Table 1).
The analyses also found anomalous levels of zinc, lead and
cobalt in some samples. A 2% cobalt analysis was
associated with a 0.8% copper value. The occurrence of a
copper bearing breccia pipe in the JV area indicates that it
has been subject to mineralising processes similar to those
that formed the nearby Redbank copper pipes.
First announcement since there Glencore JV hopefully will bring some interest..
Copper and Cobalt Breccia Pipe Confirmed at
Copperado, Redbank/Glencore JV
Field reconnaissance work completed by Redbank Mines
Limited on the Redbank /Glencore Joint Venture, to be
known as the Copperado Joint Venture, has confirmed the
presence of a copper and cobalt mineralised breccia pipe
similar in scale to the larger pipes of the Redbank area (C1
Pipe, Figure 1). Field analyses with a Niton XRF analyser
found 0.3 to 0.8% copper widespread in surface material in
and around the pipe and a small high grade vein of copper
mineralisation with 18% copper (Table 1).
The analyses also found anomalous levels of zinc, lead and
cobalt in some samples. A 2% cobalt analysis was
associated with a 0.8% copper value. The occurrence of a
copper bearing breccia pipe in the JV area indicates that it
has been subject to mineralising processes similar to those
that formed the nearby Redbank copper pipes.
First announcement since there Glencore JV hopefully will bring some interest..
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New Volcanic Pipe; 16 Additional Anomalies
and Soils Results Indicate Major Copper
Mineralisation System at Depth at Redbank
Summary
Soil geochemistry results from ERL 94 (100% RBM) identify:
ØØ new volcanic pipe, Kerslake
ØØ 16 new substantial anomalies bringing total anomalies for
further investigation and drilling to 21
ØØ broad areas of alteration and copper anomalism
consistent with a laterally extensive mineralisation source
at depth
ØØ Pipes to be tested in forthcoming drilling programme
LOOKING POSITIVE
and Soils Results Indicate Major Copper
Mineralisation System at Depth at Redbank
Summary
Soil geochemistry results from ERL 94 (100% RBM) identify:
ØØ new volcanic pipe, Kerslake
ØØ 16 new substantial anomalies bringing total anomalies for
further investigation and drilling to 21
ØØ broad areas of alteration and copper anomalism
consistent with a laterally extensive mineralisation source
at depth
ØØ Pipes to be tested in forthcoming drilling programme
LOOKING POSITIVE
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Share purchase plan closure date has been extended to the end of Feb. Offer price 8c, current sp., less than 8c. Only 300k in cash as of the last qtly. If they could get some money, looks like a fair project though.
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UP 130%,A lot of vol accumulating with the following announcement.
Spectacular near surface copper grades at Redbank
As part of the Redbank Oxide Copper Project expansion definitive feasibility study (DFS) resource infill and definition drilling is being carried out on the
Bluff, Azurite and Redbank deposits. This will enable detailed pit planning and mine scheduling to be completed. Interim results from this programme for
Azurite were announced on the 3rd of April.
Subsequently infill drilling has been completed at the nearby Redbank Deposit. The drilling has encountered a number of very high grade copper intercepts in near surface oxide mineralisation, including 29m at 7.7% copper and 24m at 4.54% copper. The field programme has also located the source breccia pipe for the Redbank mineralisation.
Spectacular near surface copper grades at Redbank
As part of the Redbank Oxide Copper Project expansion definitive feasibility study (DFS) resource infill and definition drilling is being carried out on the
Bluff, Azurite and Redbank deposits. This will enable detailed pit planning and mine scheduling to be completed. Interim results from this programme for
Azurite were announced on the 3rd of April.
Subsequently infill drilling has been completed at the nearby Redbank Deposit. The drilling has encountered a number of very high grade copper intercepts in near surface oxide mineralisation, including 29m at 7.7% copper and 24m at 4.54% copper. The field programme has also located the source breccia pipe for the Redbank mineralisation.
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Glad I did some avg down buying around 3c, was able to bring avg buy from 10c down to 5c,
Showing a healthy profit now lol, finally, lol
Will take some profits as I think alot of traders are on this
Value was always there, pity I didn't miss it and see it a few months later, then my avg would be 3c, oh well tis the game we play
Showing a healthy profit now lol, finally, lol
Will take some profits as I think alot of traders are on this
Value was always there, pity I didn't miss it and see it a few months later, then my avg would be 3c, oh well tis the game we play
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