RDS - Redstone Resources

[Auro]

Outside the 2 million share parcel the other day, it has all been low volume. It was snapped up quick smart so I would say buyers are waiting for sellers to drop down knowing how slowly RDS progresses itself.

Hate how the company has provided zero update whatsoever though - does not endear support for them.

 

[peter2]

Monthly selection, more on hope than anything else. This could be the surprise for Feb.

Price continues to go sideways in a narrow range. Volume and MD remain thin. This range sits about halfway of the prior impulsive move that took price up to 0.028. I won't buy RDS until it trades at 0.016, this way, my money doesn't sit and hope like I am.

 

[finicky]

Whew, got out today, 400,000 sold @ 0.015, not all complete yet, but most.
Very surprised to have got out intact, let alone with a small profit. What are other people seeing in it - maybe West Musgrave progress?

December Quarterly was released a few days ago with nothing positive about the HansTails tailings storage facility drilling campaign at all. So they started off air-core drilling, switched to augur drilling after 1 day and after moths of waiting we get this statement in the Quarterly,

"Due to issues with sample return and preparation arising from the drilling and the inherent uncertainty associated with properly evaluating the assay results, the Company will be undertaking an alternative follow up drilling programme using an alternate drilling technique such as sonic."

F*#k off, what does that mean? Where is the substance? What exactly are the "issues", what is "inherent uncertainty"? Is it me being obtuse or is that evasive gobbledygook to be feeding investors who've been waiting months on a result?

They do seem to be making progress on their West Musgrave copper tenements but I haven't taken any interest in that, being only prepared to blindly ride on it if I could get a free carry out of a share price boost upon positive HansTails results.

 

[peter2]

I agree. RDS should have some idea on the amount of gold in the tailings pile by now. An experienced miner with a pan would have better results than RDS. The stock price like the company is drifting aimlessly along.

Yes I was excited when price perked up to 0.016 recently but no follow up demand. Looks like P2 drifts aimlessly through another monthly comp without result (sigh).

 

[Auro]

I agree. RDS should have some idea on the amount of gold in the tailings pile by now. An experienced miner with a pan would have better results than RDS. The stock price like the company is drifting aimlessly along.

Yes I was excited when price perked up to 0.016 recently but no follow up demand. Looks like P2 drifts aimlessly through another monthly comp without result (sigh).

Although at least the SP hasn’t sunk back under 1 cent like many other penny dreadful, at least there is some sort of base.

 

[peter2]

Price continued to drift during March, April, but has spiked higher near the end of May. Price has rallied back to 0.017.
No news. A few punters having a go. This might be a good selection for the June comp, but I've been fooled before.

 

[peter2]

RDS is an ongoing joke of a company? Who said that?
Price did rally to 0.02 recently with no news. I thought it might have been a pre-cap raise pump but not this time. Price has drifted back down to 0.013. I'd prefer to select it in the celebrated ASF Monthly Comp when the price is low, not after it rallies as I did last month. What was I thinking?

Don't know what this company is doing as there's been no news since the last qrtly report in April.

I'm unaware if they've hired an old gold miner to pan their HanTails tailing heap. Don't know if they've started drilling their "Ni" anomaly yet. I'm totally in the dark and the price chart is not helping. Perfect circumstances for another surprise monthly winner.

 

[Miner]

RDS is an ongoing joke of a company? Who said that?
Price did rally to 0.02 recently with no news. I thought it might have been a pre-cap raise pump but not this time. Price has drifted back down to 0.013. I'd prefer to select it in the celebrated ASF Monthly Comp when the price is low, not after it rallies as I did last month. What was I thinking?

Don't know what this company is doing as there's been no news since the last qrtly report in April.

I'm unaware if they've hired an old gold miner to pan their HanTails tailing heap. Don't know if they've started drilling their "Ni" anomaly yet. I'm totally in the dark and the price chart is not helping. Perfect circumstances for another surprise monthly winner.

@peter2 - reading through RDS postings for the first time after seeing how come our Stock Guru can be at the bottom of the tree, I think you could have the laugh on 30 June when RDS jumps on full forward motion riding tope of the ladder. Good luck mate just make sure my tip lies between 2 and 3 in June

 

[frugal.rock]

Perhaps the tailings heap tests were "peppered" on sampling before purchase.?

Very hard to prove after the fact unless a full metallurgy makeup happened or someone admits to seasoning the samples.... of course, in the gold industry, this kind of event is very rare....?

A backhoe for a day and a monkey with a pan should be able to do 50 x 1kg samples in 1 day.... which would fairly representative of the heap.

How was the original paydirt processed is my question and what were the recovery rates ?

 

[frugal.rock]

20th October, 2021

"Reverse circulation (RC) drilling as part of the 2021 Exploration Programme (the Programme) has commenced at Redstone’s 100% owned West Musgrave Copper Project (the Project)."

Maybe the puppy has some legs after all ? The start of the recent rise coincides with the announcement.

 

[greggles]

RDS have intersected some copper at the Chatsworth Prospect within the Tollu Copper Deposit. Some decent widths there and grades aren't bad either. Maybe RDS will eventually shake off its basket case reputation and come good? They will need a lot more of these kind of assay results to restore confidence after years in the wilderness.

 

[frugal.rock]

Any day now, any day.
Gold star for being possibly the most festery festering canker ever ?

 

[frugal.rock]

Any day now, any day.

Chart update.

 

[greggles]

Chart update.

View attachment 149530

Some impressive assay results announced today driving the share price up. Technically 1c looks like an area of resistance, so it will be interesting to see if RDS can close above that today.

Regarding the assay results, the widths are thick and the grades reasonable to very good. However, RDS is cash poor and a CR can't be far away. Market cap is a tiny $4 million.

 

[frugal.rock]

Chart update on the festy one.

 

[frugal.rock]

Chart update on the festy one.