RHK - Red Hawk Mining

[tech/a]

Longterm holder on technical grounds.
But if you do need Fundamental evidence then this will be just the ticket.
http://www.brr.com.au/event/60165?popup=true

 

[doctorstock]

I am also thinking this stock might drop... rising too quick for no real reason. Anyone think it will firm up at around this 18c mark?

 

[MOSSuMS]

I got out yesterday at 18.5c as I was expecting resistance - went to 19 or 19.5c at one stage I think. Nice to see a profit for once.

I moved into BRM instead (guessing at more consolidation news once UMC deal is tied up).

I think FMS may run again if it breaks 20c, but am waiting for a slow retrace before getting back in. I'm picking through today's activities report announcement at the moment.

 

[gagaga]

today's retreat confirmed my suspicion about FMS. the new iron ore project presentation didnt deliver too much excitements,a dull one rather, not enough to push the price higher...despite all that, around 15c seems to be a reasonable support level...would accumulate at a lower discount:::

 

[MOSSuMS]

today's retreat confirmed my suspicion about FMS. the new iron ore project presentation didnt deliver too much excitements,a dull one rather, not enough to push the price higher...despite all that, around 15c seems to be a reasonable support level...would accumulate at a lower discount:::

In a trading halt - why on earth did I get out for a quick buck!

Anyhow, anyone like to speculate on the reason for the halt? I've got no real idea ATM.

Cash raising due to burn, a stake, an IPO or a tackover offer?

I don't think any drilling results are due.

I'll have to get back into the Fe juniors PDQ if this keeps going on.

 

[JimBob]

Always check page 2 of the trading halt announcement, it normally says what they are for. This one is for a capital raising.

 

[Prospector]

Yup, another one. Very frustating - the share price usually plummets when it opens again. And FMS did one of these not that long ago too!

 

[gagaga]

waiting for FMS to go back to 13c....bit skeptical about recent rally with no substantial news

quote my previous post: "waiting for FMS to go back to 13c"

and today's capital raising announcement: 13c per share

 

[MOSSuMS]

quote my previous post: "waiting for FMS to go back to 13c"

and today's capital raising announcement: 13c per share

Wouldn't you want a 27% discount on your 13c target (post raising eligibility cut-off dilution) So if you were looking at 13c now, you'd want 9.5c? Or maybe I'm missing something again, like page 2 of an announcement!

 

[skyQuake]

Wouldn't you want a 27% discount on your 13c target (post raising eligibility cut-off dilution) So if you were looking at 13c now, you'd want 9.5c? Or maybe I'm missing something again, like page 2 of an announcement!

Well the company isnt being diluted by 27% (ie the shares arent being issued for nil consideration) And its not 13c but the last price which is 15.5c.

Currently you have 1594 Mil shares @ $0.155 = $247 Mil
Placement: 160 Mil @ $0.145 = $23.2 Mil
Rights Issue: 227 Mil @ $0.130 = $29.6 Mil

Total Shares post raising = 1981 Mil shares; Mkt Cap = $299.8 Mil
= 15.1 cents per share.

Of course that's ignoring the change of fundamentals and investors reaction.

Cheers

 

[Gurgler]

Currently you have 1594 Mil shares @ $0.155 = $247 Mil
Placement: 160 Mil @ $0.145 = $23.2 Mil
Rights Issue: 227 Mil @ $0.130 = $29.6 Mil

Total Shares post raising = 1981 Mil shares; Mkt Cap = $299.8 Mil
= 15.1 cents per share.

A very succinct explanation, skyQuake. Thanks for taking the time to post it.

Worth noting that one of the uses of these funds is to move towards production of the Delta resource (area D on attached image)

Use of funds (from FMS 15 Oct ann.)
The proceeds of the capital raising will be used to advance the Company’s wholly-owned Pilbara Iron Ore Project, including the following:
1 Completion of the pre-feasibility study for the development of the project;
2 Subject to the outcome of the pre-feasibility study the potential application of funds towards fast-tracking mining operations from the Delta deposit; and
3 The balance of the funds would be applied towards the completion of a bankable feasibility study into the exploitation of its whole resource inventory and preliminary site works for their development.

 

[doctorstock]

Is anyone still holding this stock for the longer term? I have noticed some directors dumping shares but others are buying more. Mixed signals.

Dropped below 0.15 for the first time since Oct 30 today.

 

[MOSSuMS]

I got out yesterday at 18.5c as I was expecting resistance - went to 19 or 19.5c at one stage I think. Nice to see a profit for once.

I moved into BRM instead (guessing at more consolidation news once UMC deal is tied up).

I think FMS may run again if it breaks 20c, but am waiting for a slow retrace before getting back in. I'm picking through today's activities report announcement at the moment.

Despite my complete inablity to run the numbers, anything in the twleve cent region and I'll be checking the charts and news to see if I should get back in. BRM has quickly broken out back to my previous sell level, so I may have missed that Fe trade, but FMS is looking better priced at the moment, or at least when it finishes it's consolidation...

 

[Fang42]

It appears that fms has been oversold as price has fallen from .180to .110 estimates of reserves are to be assessed but i have heard no news does anyone know what the current position is?? I am holding and getting a little nervous

 

[skyQuake]

lol oversold.

Could see low 9s before a bounce. Currently the moves up have no conviction, still too much selling here

 

[Fang42]

SKY QUAKE, thanks for your imput do you know when the surveyors report is due?? This may affect the share price if mining viable

 

[MOSSuMS]

That retracement has been longer and harsher than I thought - not helped by the Really Stupid Profits Tax no doubt.

Anyone see where this might form a bottom? I can't see anything until close to it's historical lows now after the raising, unless external events intervene again. 5c anyone?

Managed to pick the top to sell, but know that a was pure fluke, so hoping some more knowledgeable chartists can see something. Otherwsie I'll be dipping a toe into FMS again after the next leg down.

 

[Fang42]

FMS

does anyone know the reason for the sudden jump in FMS shares they were trading not so long ago at .078 now they are up to .155 and have jumped from .125to .155 in just over a week

 

[Buckfont]

Re: FMS

does anyone know the reason for the sudden jump in FMS shares they were trading not so long ago at .078 now they are up to .155 and have jumped from .125to .155 in just over a week

Fang42, I have held FMS for quite a while now purely on the belief that it is a potential takeover target, with the tenements they have smack bang in the central Hammersley region close to RIO and FMG.

With the interest of a potential takeover of Brockman and Ferraus, that news that has come out in the last two days, to me puts FMS is in a similar boat. Large ore holdings and close to rail facilities.

I had a very short conversation with Kevin Wills recently at a funeral. To use his words, `The best is yet to come.`

I am not in the industry and that meeting/chat was a one off, but I`m hanging out for some nice upside.

 

[burglar]

Every now and then I buy FMS expecting spectacular results!
Then something will happen to convince me to sell them.
I know it will happen, I just don't know when!
When it does happen, I don't know if I would be holding them or have sold them.

Frustrating ain't it!