Just recently MLX also confirmed a large nickel deposit in the Central Musgraves which once again goes to confirm the potential of the Musgrave region as a whole. The Chinese were also straight in with 30+ million dollars for 117 million shares and a large slice of the action.
RDS - Redstone Resources
- Thread starter kevro
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- rds redstone resources
Hi Nuwave, looks real nice at the moment but a bit of volume would'nt go astray. Mind you 200k for the day is'nt bad for RDS. Its amazing this stock is this price after listing in August 2006. 25c float and no real action between then and now and we have a SP in excess of a $1. People are holding and accumulating in dribs and drabs and waiting for pay day.
I am after a few Opinions here;
Lets revisit these results above, and I'll say IF! IF drilling currently underway proves these results (rock chip etc) to depth say 100 metre, which I believe to be expected given the Musgrove area.
And IF these results prove and define another Voiseys Bay Ni-Cu-PGE deposit or Nebo and Babel Ni-Cu-PGE which given the surface area of the samples they just have to prove it goes down.
So IF they find this deposit what does a companies share price do when it finds a billion $ deposit? Please some1 tell I am not the only one that can see the potential here. What does happen?
Opinions please
I'm with you on RDS Geo78. I think a lot of people are and they are all holding on to there shares. Thats obvious by the continual low volume.The company only listed in August and have only announced surface sampling results and are now only just commencing drilling. For a companies share price to move from .25c listing to $1.20 in 8 months on only surface sampling results and the anticipation of drilling says a lot. If they are successful I have no idea what the SP could be but I'm looking at retirement on this one also
Kevro
A nice strong close today.
As expected we are seeing some rallying on the pending drill results.
It could still be a couple of weeks by the time they send their results in and they are confirmed, so we must be patient.
Sellers are tightly holding these, which shows a strong belief in the company.
The biggest question will be when to get out, as these will be huge when they start producing!
Good luck to all those that hold.
As expected we are seeing some rallying on the pending drill results.
It could still be a couple of weeks by the time they send their results in and they are confirmed, so we must be patient.
Sellers are tightly holding these, which shows a strong belief in the company.
The biggest question will be when to get out, as these will be huge when they start producing!
Good luck to all those that hold.
Hello,
Can anyone tell me more about this company and the latest announcement?
Should their not be more interest in this stock. Seems the price is a little low, this is my opinion only.
3 April 2007
The Companies Announcements Office
Australian Stock Exchange Limited (ASX)
4 Floor. 20 Bridge Street
SYDNEY NSW 2000
RMC Project Updates – Highlights
Resource Mining Corporation Limited (ASX: RMI) is pleased to provide the following updates to
activities on its main project activities.
The Company is currently progressing four opportunities, including exploration on its major
project in PNG where it will expend around $1 million on exploration related activities during
2007.
Other highlights in activity include the positive progression of discussions with interested parties
at the Company’s iron ore project in Argyle, including potential investment from Chinese
interests.
Wowo Gap Project
• Diamond Drilling contract agreed and signed with drilling schedule to begin late April.
• Ground Penetrating Radar work 15% complete with first data interpretation included for
early April
• Survey crew onsite surveying GPR and drill lines, data essential for future resource
estimation
• Line cutting for GPR and drill access scheduled for completion week in early April
Argyle Iron Ore Project
• Level of potential Chinese investment interest has increased and, discussions are ongoing.
• Geophysical data captured in 2005 is being re-processed as part of RMC’s regional
exploration activities on tenement EL 80/2389.
• Preliminary interpretation indicates the granitiod associated with the elevated stream
sediment geochemistry has an iron-oxide alteration which supports the geological
interpretation of a Proterozoic iron oxide Cu-Au system. Examples of other Proterozoic
iron oxide Cu-Au systems throughout Australia include Olympic Dam and Ernest Henry
mines.
• Planning for regional exploration fieldwork scheduled for late April has been completed.
This field work will follow up highly anomalous Au, Cu, Ag and U results received from
last years initial stream sediment sampling work.
Blackstone Range Project
(Joint Venture with Redstone Resources Limited (ASX: RDS) 75% and RMC 25%)
• Redstone plan to commence Rotary Air Blast (RAB) and Reverse Circulate (RC) drilling
on the Farm-In ground on two prospective areas: Halley and Titan.
• 15 RC holes are planned to test the main Halleys Ni-Cu-PGE anomaly and EM targets,
as well as a series of RAB holes on both Halleys and Titan prospects
Queensland: Three Rivers/Greenvale:
(Straits Resources Limited (ASX: SRL) Joint Venture)
• The three deep hole diamond drilling program planned by Straits Resources for this
prospect will be carried out after Easter to test Ni Sulphide mineralisation beneath the
Greenvale Mine.
Yours faithfully
J. E. Leach
Executive Chairman
Dom
Can anyone tell me more about this company and the latest announcement?
Should their not be more interest in this stock. Seems the price is a little low, this is my opinion only.
3 April 2007
The Companies Announcements Office
Australian Stock Exchange Limited (ASX)
4 Floor. 20 Bridge Street
SYDNEY NSW 2000
RMC Project Updates – Highlights
Resource Mining Corporation Limited (ASX: RMI) is pleased to provide the following updates to
activities on its main project activities.
The Company is currently progressing four opportunities, including exploration on its major
project in PNG where it will expend around $1 million on exploration related activities during
2007.
Other highlights in activity include the positive progression of discussions with interested parties
at the Company’s iron ore project in Argyle, including potential investment from Chinese
interests.
Wowo Gap Project
• Diamond Drilling contract agreed and signed with drilling schedule to begin late April.
• Ground Penetrating Radar work 15% complete with first data interpretation included for
early April
• Survey crew onsite surveying GPR and drill lines, data essential for future resource
estimation
• Line cutting for GPR and drill access scheduled for completion week in early April
Argyle Iron Ore Project
• Level of potential Chinese investment interest has increased and, discussions are ongoing.
• Geophysical data captured in 2005 is being re-processed as part of RMC’s regional
exploration activities on tenement EL 80/2389.
• Preliminary interpretation indicates the granitiod associated with the elevated stream
sediment geochemistry has an iron-oxide alteration which supports the geological
interpretation of a Proterozoic iron oxide Cu-Au system. Examples of other Proterozoic
iron oxide Cu-Au systems throughout Australia include Olympic Dam and Ernest Henry
mines.
• Planning for regional exploration fieldwork scheduled for late April has been completed.
This field work will follow up highly anomalous Au, Cu, Ag and U results received from
last years initial stream sediment sampling work.
Blackstone Range Project
(Joint Venture with Redstone Resources Limited (ASX: RDS) 75% and RMC 25%)
• Redstone plan to commence Rotary Air Blast (RAB) and Reverse Circulate (RC) drilling
on the Farm-In ground on two prospective areas: Halley and Titan.
• 15 RC holes are planned to test the main Halleys Ni-Cu-PGE anomaly and EM targets,
as well as a series of RAB holes on both Halleys and Titan prospects
Queensland: Three Rivers/Greenvale:
(Straits Resources Limited (ASX: SRL) Joint Venture)
• The three deep hole diamond drilling program planned by Straits Resources for this
prospect will be carried out after Easter to test Ni Sulphide mineralisation beneath the
Greenvale Mine.
Yours faithfully
J. E. Leach
Executive Chairman
Dom
Uranium.
The current price is very strong, given they have only had samples so far. These were announced to the market back in December - it was as good an announcement you could get. Now we await the drill results to see if they support the samples.
The RMI announcement was released as this is a JV which RDS has a 75% stake. It basically confirms that drilling is now underway.
Those that hold this stock hold it tightly (me included) as we believe this has a lot of potential. (You should read their fundamentals and the directors experience by visiting the website).
I think this stock has slipped by as it hasn't had a heap of press, but I reckon that will change in the coming days/weeks! Good luck if you choose to jump on the redstone train!
The current price is very strong, given they have only had samples so far. These were announced to the market back in December - it was as good an announcement you could get. Now we await the drill results to see if they support the samples.
The RMI announcement was released as this is a JV which RDS has a 75% stake. It basically confirms that drilling is now underway.
Those that hold this stock hold it tightly (me included) as we believe this has a lot of potential. (You should read their fundamentals and the directors experience by visiting the website).
I think this stock has slipped by as it hasn't had a heap of press, but I reckon that will change in the coming days/weeks! Good luck if you choose to jump on the redstone train!
Uranium.
The current price is very strong, given they have only had samples so far. These were announced to the market back in December - it was as good an announcement you could get. Now we await the drill results to see if they support the samples.
The RMI announcement was released as this is a JV which RDS has a 75% stake. It basically confirms that drilling is now underway.
Those that hold this stock hold it tightly (me included) as we believe this has a lot of potential. (You should read their fundamentals and the directors experience by visiting the website).
I think this stock has slipped by as it hasn't had a heap of press, but I reckon that will change in the coming days/weeks! Good luck if you choose to jump on the redstone train!
I could agree more Nuwave, I myself have been prevue to a bit of background information. The RDS tenamants including where Halley's and Redrock are located and acquired in the 90's. During this period BHP/WMC have secured nieghbouring tenaments, of which have they have identifed as very prospective, infact one of RDS tenaments neighbours BHP's Nebo-Babel Deposit (2nd largest deposit of its kind in the world). Prior to mid-2006 a number of major's have attempted to aqquire the RDS land holding in the Musgrove engaging in a variety of means unsuccessfully.
During the float & prior a large Chinese MN and other AUS basede mining houses where in discussion with RDS (as referred to in Kalgoorlie Times and Australian newspaper). moving forward as Newave has said, this area is seen as one of the most underexplored/prospected areas in the world, the testing to date (sample surface, airal) has identifed a large target the size of Nebo-Babel. Although until drilling is done (which is underway) it will not be known whether the sulfides carry the base metal.
I like may other people on this post believe if its on the surface it most likely continues to depth. IF IF IF IF IF IF IF it does RDS could prove up a world class deposit.
Just to clarify I do have RDS shares and RDS shares only becuase I believe in the stock and management. These a big IF atm and this will remain until we see drilling results. However to me its an risk, worth the risk because the return could be exceptional.
Further more drilling commenced at 6am this morning.
Anyway if you are interest check out all the announcements and research the geo's and look at it objectivly. I'd be interested for any1's opinion. Well till next week (maybe some results come friday)
Hi Geo78, check your PM's when you get a chance.
Just been re reading the Dec 21 2006 AGM report for RDS and it gets the adrenalin pumping. Link below. Why is time going so slow
http://www.redstone.com.au/redstonenews.htm
This paragraph below is great reading and more so when the area is over 35km in length.
Of particular significance has been the recognition of a NW – SE trending zone on the south western margin of the Saturn Complex (Figure 5) which is interpreted to be a magma flow-through zone, perhaps analogous to the famous Platreef PGE-Ni-Cu district in the Bushveld Complex of South Africa. This margin has variably highly anomalous nickel, copper and platinum group elements (PGE) over 35km strike. Halleys, within this trend, is a 1.5km long zone of strong Cu-Ni-PGE soil lag geochemistry with peak values of 1915ppm Cu, 940ppm Ni and 72ppb Pt + Pd. These values are considerably higher than the DLag soil geochemistry values (950ppm Cu, 748ppm Ni and 12ppb PGE) over the Nebo and Babel nickel deposits, 30km to the west. Geological mapping of this anomalous zone at Halleys has highlighted a limonitic ironstone outcrop with a peak assay of 5400ppm Cu, 2400ppm Ni, 500ppm Co and 249ppb Pt + Pd. Analysis of the entire PGE suite (Os, Ir, Ru, Rh, Pt, Pd, Au) indicates a magmatic pattern typical of derivation from sulphides and very similar to that of the discovery gossan at Voiseys Bay (Figure 6). It thus appears almost certain that the soil anomalies and ironstones overlie Ni-Cu-PGE sulphide mineralisation at depth
Kevro
Just been re reading the Dec 21 2006 AGM report for RDS and it gets the adrenalin pumping. Link below. Why is time going so slow
http://www.redstone.com.au/redstonenews.htm
This paragraph below is great reading and more so when the area is over 35km in length.
Of particular significance has been the recognition of a NW – SE trending zone on the south western margin of the Saturn Complex (Figure 5) which is interpreted to be a magma flow-through zone, perhaps analogous to the famous Platreef PGE-Ni-Cu district in the Bushveld Complex of South Africa. This margin has variably highly anomalous nickel, copper and platinum group elements (PGE) over 35km strike. Halleys, within this trend, is a 1.5km long zone of strong Cu-Ni-PGE soil lag geochemistry with peak values of 1915ppm Cu, 940ppm Ni and 72ppb Pt + Pd. These values are considerably higher than the DLag soil geochemistry values (950ppm Cu, 748ppm Ni and 12ppb PGE) over the Nebo and Babel nickel deposits, 30km to the west. Geological mapping of this anomalous zone at Halleys has highlighted a limonitic ironstone outcrop with a peak assay of 5400ppm Cu, 2400ppm Ni, 500ppm Co and 249ppb Pt + Pd. Analysis of the entire PGE suite (Os, Ir, Ru, Rh, Pt, Pd, Au) indicates a magmatic pattern typical of derivation from sulphides and very similar to that of the discovery gossan at Voiseys Bay (Figure 6). It thus appears almost certain that the soil anomalies and ironstones overlie Ni-Cu-PGE sulphide mineralisation at depth
Kevro
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