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RDS - Redstone Resources

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G'day stoners.. Some preliminary drilling results announced today.. I'm no geologist (inspite of doing a year of geology at high school about 50 years ago) so I'm not going to draw any conclusions from the report.. The sp on very low volumes stayed pretty steady.. Anyone like to speculate ?
 
Not very exciting at all - grades too low

Best intersection of 74m @ 0.29% Cu, 0.08% Ni and 0.17 ppm Pt+Pd+Au

Compared with the oft-quoted Babel/Nebo initial results:

"The discovery intersection for the Babel deposit was 148.9 m at 0.3% Ni, 0.42% Cu and 0.29 ppm Pt, Pd+Au and for the Nebo deposit 26.55 m at 2.45% Ni, 1.78% Cu, 0.09 % Co and 0.74 ppm Pt, Pd+Au"

Not all over yet, they will have learnt from these holes, but these results aren't making the market excited and you could drive a truck through the spread

Where are all the rampers now (?) - probably already out of the stock...

GEO 78, any comments on the grades and skinny intercepts?
 
This was only the very first drilling result and there are hundread more to come. Yes, this result wasnt not ground breaking as such however if you read the last couple of pages, they indicate that the results countinue to indicate a large anomolie in the Saturn site. As a result this indicates they are on the right track they just need to pin point where the targeted areas are.

Although the $price didnt do anything with the result it is hardly suprising. A buyer launched a sell bid for 80,000 (which is arguably someone messing around) at around low $1.70's and most are waiting for the big picture to come in. This stock has been hovering for days and most investors have already made there position in this stock so why would there be a flurry to invest now?

Dont judge a book by its cover, its pretty ovious that not all of RDS results are going to be ground breaking and many minning companies have poor intial drilling results.

Another interesting note is that RMI a company that is in a drilling partnership with some of the drilling results recently released has a $1m buyer come in today. This is very interesting and oviously something that is going to turn a few heads.

One thing that makes me sleep better at night about this company is the leadership in the ranks of Redstone. With quality management this company has attracted it is possible that even if the results we are waiting for are lacklustre the company has the right ingredients to steadily over time build from a small cap into a mid tier minning company.
 
Hi all S/P slumped today down as far as $1.30 I am not worried as said by Young gun this is the first of release of a 471 drill hole program. Also if you look at the EM map that came with the announcement the hole results released are just the start of the programme.Drill holes BCS001 to BCS005 are on the edge of the mineralised zone,the ones I am really interested in are BCS006to BCS0013 this will tell what they really have I think. I am no expert but what do others think R&R
 
Agree to what Rough and Ready Said, these results were not the targeted area and were not expected to be anything extradinary. Im not 100% certain, but im pretty dam sure the price slump was due to a bit of collusion going on.

I noticed as many might have, about 2 days a sell order for 100,000 shares was put in the queue. This morning this person sold about 40,000 shares are Current market price, dumping the stock 17%. They then put a 100,000 order to buy at low $1.40's. It looks a bit sus when two large large orders jump out from the sell side and back into the buy side!!!

Im not trying to ramp this stock, as maybe there is a legitamate raeson the slump however it all looks a bit sus to me . .
 
Another thing look at the Nebo-Babel history & the depth.

No doubt RDS will plan another drilling program at depth in the coming months.

A 60% cu. soil sample came from somewhere.
 
This was a deleted post:
Geo78 said:
I'll read the policy it if RDS doesnt hit at least $3+ after the drilling results. I have been right all along so when I am not and what I say doesnt come around. Then tell me I am ramping
Click to expand...
Geo78/Dirt/pooo_clown (poo clown is my favourite one, you should have stuck with that - atleast you have an idea of the type of post that's likely to follow) have you read the policy yet? Last I checked $1.50 was a little less than $3. If you had of read it, you'd have known you weren't allowed to register more than one account.

You sure do seem bullish like an Ox on this one, but if it were really that good, you wouldn't have to re-register with a different name to talk it up.
 

Your right DIRT is Geo78 (because Geo78 me has not beable to post for mths cos you banned me FOREVER).
 
G'day Stoners.. been very quiet here of recent times.. I note todays announcement re exploration leases in Brazil.. Only one trade of the stock in the last three days which must be a record (and it was for less than 1000 shares) seems the holders are holding and the buyers are not buying, at the 1.45 level anyway.. nearly a year since the IPO but I'm not complaining, its been a good run..
 
Hi guys,

I am not an RDS holder, but am an RMI holder which has a 25% free carried interest in the Blackstone & Michael Hills projects

Just curious if yoou guys could shed some light on when more drilling results are expected?

Also in a report by Patersons they said that RDS's main focus was the Blackstone & Michael Hills projects and that a bulk if not the majority of RDS's current mkt cap is attributable to its interest in these projects, I too form limited research into RDS sort of drew the same conclusions, I am curious what you RDS'ers could add/comment on this?

Cheers
 
I dont know what the program is YT.. As far as the west Musgraves are concerned there is a very comprehensive write up on the RDS web site under the 'projects' tab.. contains most of the info that was in the original prospectus..
 
IT has gone very quiet on the old redstone forum and no one has posted for over 6 months now.

Does anyone have any more recent news on this one.

I have heard that the share will bounce around till at least April of 2008.

As nothing major is confirmed at this stage.

Also is it true they have sent someone to the phillipines to garner more info on a issue that concerns someone that has recently moved there.


 
Well it is bouncing a bit early but this one is a winner IMO
DYOR and you will see what I mean.
May drop again but would think this be up around $1.50 mark again in next 12 months
 
kingbaz said:
Well it is bouncing a bit early but this one is a winner IMO
DYOR and you will see what I mean.
May drop again but would think this be up around $1.50 mark again in next 12 months
Click to expand...

KingBaz,

if you are going to post targets you MUST provide evidence as to why you think so. Simply saying DYOR is a cop out.

Future posts like this will be removed.

Prawn
 
Was just reading through an article in the WA Business News entitled "Offshore phosphate opportunities" by Rebecca Lawson, 15/5/08.

The article discusses the current hype around fertiliser plays and the demand/supply differential. It mentions local plays such as RWD, MAK, STB, however it had a little section about this stock - RDS - Redstone Resources...

Excerpt

"...For East Perth-based Redstone Resources Ltd, the lure of potash led it to recently acquire the Aneba project in Brazil. "Our interest as a company in this whole fertiliser scenario is Brazil, because firstly, Brazil has some of the most prospective ground in the world for the potassium deposits, and secondly it is one of the single largest consumers of potassium in the world," managing director Anthony Ailakis said. "In fact, it is predicted that in the next few years Brazil will become the number one agricultural nation in the world in terms of output."

---->The following comes straight from RDS's quarterly report on 30/4/08: The quarterly speaks of various parties becoming interested in the Aneba project, but does not affirm what is stated in the article above, "For East Perth-based Redstone Resources Ltd, the lure of potash led it to recently acquire the Aneba project in Brazil"....Please correct me if this information has been supplied by RDS elsewhere



SOUTH AMERICA
Argentina
During the Quarter the Company finalised and delivered to Minera Cerro Atajo S.A. a detailed geological report on the Cerro Atajo and Cerro Blanco gold, copper and silver prospects pursuant to its obligations under the share purchase agreement entered into in the previous Quarter.

Brazil
During the Quarter, the Company completed its investigation into a second agri-minerals target.

Potassium
The Anebá potassium project, located in the Amazon Basin is attracting interest from a number of companies seeking exposure to the growing fertiliser market. The Company will seek to commercially exploit these targets in the next quarter.

Iron Ore

The Company’s three applications for iron ore tenements in the Pará State (west of Carajás Province), corresponding to the Bala and Pontal Projects were granted during the Quarter.

Outlook

Redstone has identified further targets which are presently being investigated for potential acquisition. The Company will continue to develop its projects and identify potential acquisitions in Brazil.
 
Does anyone have any optimism for this company that it will source funding ? Things are looking pretty bleak and all talk has dwindled with the last post being almost 6 months ago !!
 
Young Gun said:
Does anyone have any optimism for this company that it will source funding ? Things are looking pretty bleak and all talk has dwindled with the last post being almost 6 months ago !!
Click to expand...

has anyone got anymore thoughts on this stock here?

just curious - other forums have mentioned news but this thread has been dead for 2 years almost?
 
I recently purchased some shares at 26.5c. Stock has jumped almost 50% in a matter of weeks. This stock is really moving fast. No shortage of cash and looks like good exploration results coming in. I'm holding on to these as I suspect the price will reach $1.00 by the end of the year. I will look at increasing my holdings if the chart still looks good in a week.

Trade Slow

Dont rely on anything I say - of course I want these shares to rise!
 
slow_trader said:
No shortage of cash and looks like good exploration results coming in.
Click to expand...

Can you elaborate on the claim that there are "good exploration results coming in"? Have there been results released so far? If so, what makes them "good"?

slow_trader said:
I'm holding on to these as I suspect the price will reach $1.00 by the end of the year.
Click to expand...

All price targets must be backed up by some analysis. If you believe that the RDS share price will be $1 by the end of the year you really need to explain what will be driving the share price. A $1 share price would value RDS at $100 million. The market currently values it at $35 million.

What is going to happen between now and the end of the year to justify a 300% increase in market capitalisation?

Please be as specific as possible.
 

Hi, from my very limited knowledge (read none) of the industry, the results the company announced on the 21st and 28th June sounded "good". Finding high grade copper at their tollu site.

Sorry to make claims not backed up by something - will refrain from doing that in future. I buy shares mainly based on charting and trends. with the rapid rise in share value from mid-late june, one "could" assume if this rise continued, then the share price "might" hit $1 by christmas.

Wish I knew.

Thanks for the heads up. As a newbie I will stick to asking questions.
 
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