RCH - Richfield Group

[asx256]

Thanks for your post kennas!
I purchased 200,000@ 0.04 last Friday, and I have to say that chart looks great so far.(specially weakly & monthly charts). However I don't know anything about fundamental of RCH. Would you be able to help me with that? thanks.

Once again pls explain the fundamental. thx

 

[Snakey]

A lot of interest here today. It would be nice to see a a close above .052 this would signify a breakout and potential to run further. Be interesting to see if it can break though the 5c resistance and close above it

 

[shaunm]

Is there any other reason apart from an up day on the markets for this little rise we've had? RCH have come quite a way from the recent lows of under 4 cents.

 

[bvbfan]

Renewed interest in Moly perhaps?

MOL, IRC also up nicely in the last few weeks.
Bought some RCHO options a few weeks ago to hold until expiry.
I like the story here, well I like the moly store full stop. Think it has the potential to be one of the hot sectors in 2009.

 

[BenH]

I am looking at buying into this one, im aware they are sitting on a large moly deposit, but thats about all I know, so what can you all tell me? Where is the shareprice headed, and where are they at in terms of setting up something to generate some cashflow?

 

[Snakey]

Richfield looks like it will break up from ascending triangle 5.2 is the resistance
we will need to break that to confirm

 

[Hole]

Hi Snakey, I heard about this stock last year and purchased a few at 1.8
Still hearing good things are to come. Whats your thoughts on the recent announcements regarding Fortis Clearing ?

 

[eMark]

Appears to be failing to close above the 5c onsolidation level. Hope she bounces back into this area by the end of the week.

 

[Snakey]

Hi Snakey, I heard about this stock last year and purchased a few at 1.8
Still hearing good things are to come. Whats your thoughts on the recent announcements regarding Fortis Clearing ?

Hi Hole. have not looked into the fundamentals here to much but for some reason this has failed the ascending triangle maybe market conditions maybe ascending triangles suck...not sure maybe it needs this drop to build enough momentum to bust through the 5 cent roof, maybe its just snuffed out.
better market conditions might go in favor of this one.
not holding my breath though

 

[eMark]

Headed back up into the 4's in the last few days. Seems to have found some renewed support.

Anyone else out there still watching this one???

 

[stock_dexter]

Trading Halt today..."requested pending an announcement in relation to substantial shareholder Chimera Capital Limited".

Anyone know what this may relate to?

 

[eMark]

TOLI TOLI PROJECT

DRILLING UPDATE SEPTEMBER 2008

Richfield Group Limited (ASX: RCH) wishes to update the market on recent activity in Sulawesi, Indonesia.

• Drilling at Drillhole location A (see Figure 1) commenced on August 4 2008 and by the end of the month, had reached a depth of 364.85 metres, an average drilling rate of 14.6 metres per day. There were numerous hydraulic, mud pump and other mechanical problems that resulted in the drill rate being less than the expected 20 metres per day. The hole is currently (06 September 2008) at a depth of 397.85 metres.

• Drillpads B and C have now been cleared. It has been decided to drill the next hole (M38) from Drillpad C as a scissor hole, 200 metres away from, and to be drilled beneath M37 so that the true width of the mineralised system can be obtained. This hole will also give a better understanding of the orientation of the mineralised structures and an indication of the depth to which they continue.

• Current drilling at M37 (Drillpad A) was designed to see if the weakly mineralised Tinombo Formation rock type in which drill hole M12 ended was an isolated rafter or whether there was additional mineralised quartz-monzonite porphyry (“QMP”) intrusive further to the northeast.

Current analysis not only strongly suggests that the latter is the case, but also that it is quite probable that the strong molybdenum anomaly to be tested by Drillhole F represents a separate sheeted veined system lying along the NW-SE structural trend. If this is shown to be true, then the total width of the known mineralised system would be significantly increased. It is proposed to continue drillhole M37 past its planned depth of 400 metres for as long as strongly mineralised QMP intrusive rocks are encountered in drilling.

• Split drill core has been sent to Intertek Laboratories (102 samples on 25 August, 97 samples on 1 September and 120 samples on 6 September) for sample preparation and assay and it is expected that the first assays will be received during the 3rd or 4th week in September.
2

The information in this release that relates to Exploration, Mineral Resources or Ore Reserves is based on information compiled by Laurie E. Whitehouse, Consulting
Geologist, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Whitehouse has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of
the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“The JORC Code”).

Mr Whitehouse consents to the inclusion in the
report of matters based on his information in the form and context in which it appears, and in particular to the results of historical exploration carried out by Rio Tinto
and Santos Ltd previously disclosed.

• Construction at the Nancy Camp is on target with the second accommodation block, toilet/shower facilities, generator shed and storehouse all completed. The office block and kitchen mess are nearing completion, with work due to commence on the core-logging shed, and further accommodation for drill crew and labour. A worldwide internet communication system is expected to be installed by mid September.

• Plans for the upcoming month include completion of Drillhole M37 at Drillpad A; commencement of Drillhole M38 at Drillpad C; preparation of Drillpads D and E and presentations to the Governor and Forestry officials in Palu.

 

[Joe Blow]

Richfield Group (RCH) is now known as Victory West Moly Limited (VWM).

Discussion of this company continues in the VWM thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=19640

This thread has now been closed.