Australian (ASX) Stock Market Forum

RHM - Richmond Mining

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Decent volume today and a 10% rise as well.

Definitely looking like something is in the mist.

I agree, good listening to the BRR as well.
 
kpas said:
Decent volume today and a 10% rise as well.

Definitely looking like something is in the mist.

I agree, good listening to the BRR as well.
Click to expand...

Ditto that: I believe we're due for some drilling results for Narracoota sometime soon?
Interestingly, the CEO on Boardroom Radio, it seemed to me, saw the real future for Richmond in the Nevada project, and the Aussie holes-in-ground as potential bonuses.

I thought RHM's chart worthy of my amateurish attempt at a POTENTIAL BREAKOUT Alert
 
It took a bit to get through the 20-22c resistance, hopefully it can hold tomorrow and keep pushing higher. Still a very low market cap.
 
Close of 23c which is less than the day high of 26c but it has held above the previous high of 22c on good volume. See attached chart.


richmondmining.jpg
 
with a breakout occurring during the week expect this stock to be good trading stock next week

expect intraday ranges of up to 10%
 
craigj said:
with a breakout occurring during the week expect this stock to be good trading stock next week

expect intraday ranges of up to 10%
Click to expand...

No volume today - first day it hasn't done a couple of million in volume for a while, so interesting to see if whoever wanted in has to post a 5% notice or it was just day traders last week.

Has held above 20c which is a good sign.

I agree, this could well become a good trading stock if it has good volatility and swings in share price.
 
Past resistance of 20c is holding fairly firm which is good to see.

Looks like it's had a bit of a breather and the sellers/cappers have pulled their orders. Seems to be gearing up here.

I sometimes wonder if having such a small number of shares disadvantages a company like this. I guess it keeps the low end spec traders away though.
 
Synergy said:
Past resistance of 20c is holding fairly firm which is good to see.

Looks like it's had a bit of a breather and the sellers/cappers have pulled their orders. Seems to be gearing up here.

I sometimes wonder if having such a small number of shares disadvantages a company like this. I guess it keeps the low end spec traders away though.
Click to expand...

I do too, but for every trader that avoids it, there must be one that prefers it.
So I do think it equally helps it in that some investors will actively seek stocks with low shares on offer and then stick it out for the long term hoping for a quick run when the stock comes to favour.

Similar happened to BRM (when it was YML) that because it had such a small number of shares available to be traded, when good news appeared, no shares were available and as a result the share price really rocketed.
 
Interesting ann buy SFR that they will drill/explore the Doolgunna copper/gold

project over the next six months with a $8 mil min budget and using 4-6 rigs

at the same time. Might explain the mini sell off down today and the question may have to be asked if RHM have secured their rig yet ????:confused::cautious:
 
Bigukraine said:
Interesting ann buy SFR that they will drill/explore the Doolgunna copper/gold

project over the next six months with a $8 mil min budget and using 4-6 rigs

at the same time. Might explain the mini sell off down today and the question may have to be asked if RHM have secured their rig yet ????:confused::cautious:
Click to expand...

I would be surprised if there was only 4 - 6 rigs available in the entire region if that is what you are suggesting.

More likely an impatient holder from the recent rise in share price who found a better place to stick their coin.
 
I have taken a small stake today. Seems to be consolidating in the high teens so not a bad entry (time will tell).

Drilling campaign kicks off in April/May per broker presentation.
 
good buying bushman nice retracement
low volume on weakening share price is a bullish sign
perfect time to acccumulate
the i/o project has already had 20 million spent to research
the naracoota drilling commences in coming months

now the hype is off from 2 weeks back this retracement is a good buying opp.
 
Chart is looking a lot more positive. Good timing with drilling at Narracoota due to begin in the next 4 - 6 weeks.
 
Approx. 4 weeks until drilling begins.

Potential to see logging results around then, otherwise we're looking at 6-8 weeks before we will definitely see good/bad results for Narracoota.

Should also be anticipating further updates to Beuna Vista over the coming weeks.

Definitely worth keeping an eye on
 
Sandfire continue to achieve drilling success at DeGrussa while Talisman and Alchemy are both drilling their VTEM targets. Any drilling success from either of them should add interest to the whole region as it helps confirms the region as a VMS deposit.

Market Cap $7.5million with $2.6million in the bank, still well below the market cap of others in the region. Share price continuing to hold above 20c, volume and price should build in the lead up to drilling IMO.
 
Interestly enough, RHM closed at a 52 week high today - on some reasonable volume too.

Not on an announcement though, so possibly will see a speeding ticket tomorrow from ASIC at which I will speculate they will respond with "drilling due within 4 weeks".

Good to see the little speccy finding some public interest though. Just need to follow through with good drill results to back the speculation up.
 
Another big volume day with nearly 1m traded and a new intra-day high of 32c. Although it closed at 27.5c, most of the volume was around 30c or higher.

Speeding ticket issued by the ASX this afternoon, in response RHM states:

It can be noted that on a peer comparison, the Richmond share market value is
still much less than other Narracoota explorers and iron ore juniors and the
recent share price movement may reflect investors taking advantage of this
apparent disparity.

It still has a long way to go before it catches up to some of its peers in the region.
 
Agree, definitely keeping an eye on RHM as the drilling results are likely to be released within a month.
 

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