RMG - RMG Limited
- Thread starter YOUNG_TRADER
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Interesting. One green stock today is RMG. All Ords is down over 2% again today.
UP 8.696%
2.5c
Volume - 3,876,064. 31 trades.
UP 8.696%
2.5c
Volume - 3,876,064. 31 trades.
- Joined
- 26 February 2007
- Posts
- 358
- Reactions
- 0
I'm out at 2.4, not sure whats going on with it, I had my sell order sitting there from last week. Really didn't expect it to come into play today. Hard to know if its a good or bad move selling on a rise on a day like today. Good luck with it being something positive.
Obviously a good move in hindsight Synergy. Still waiting for some sort of news from Holloman in regard to future directions. Certainly has totally lost market interest here. Bouncing off 1.4 cents and miniscule volume.
One would hope that now they have Adavale bedded down that RMG will now receive some much needed love and attention. :horse:
Well finally we have some sort of announcement out after market.
Nothing to really get excited about at this stage but at least they are heading in the right direction. Some potential historical copper and gold deposits, drilling underway so the next few months could get interesting.
MT COFFIN
· Springfield Minerals Pty Ltd Exploration Licence 3812 covers an area of 466 sq km
East of Copley in the Adelaide Geosyncline.
· The conditional farm-in agreement with Copper Road Inc. has not proceeded as the
conditions were not met in the required timeframe.
· The initial drilling target is the Mt Coffin Diapir. This structure outcrops over 5
square kms. Copper mineralisation is widespread in both the diapir and the
immediate surrounding sedimentary rocks.
· A number of copper mines were worked during the period 1880-1920 in the
sedimentary rocks surrounding the contact of the diapir. The ore consisted mainly of
secondary copper minerals. Average grade ore assayed 9 to 15% copper. Primary
sulphide ore was reported in the deepest workings. Recent XRF assays of rock chips
include zones containing up to 34% copper.
· Previous shallow drilling intercepted significant copper mineralisation. The drilling
program focused on the area peripheral to the diapir and adjacent to a black shale
and assays showed up to 2.2% copper.
· Only one core hole has explored the diapiric rocks that contain rafts of dolomitic
marble up to 1700m in length and up to 9m thick that contain significant
concentrations of copper sulphide minerals.
· A single core hole penetrated below the oxidised zone returned disseminated
chalcopyrite over the entire intercept of the unoxidized zone from 102 to 198m
including 5.5m of 0.9% copper. This layer has both geochemical and induced
polarisation anomalies.
· Recent XRF assays show that the copper mineralisation contain traces of uranium,
vanadium, gold, silver and tungsten.
· A small alluvial gold field with nuggets up to 13 pennyweights was worked close to
disseminated copper mineralization in the diapir.
· XRF assays and assays from exploration by Southern Cross indicate the potential for
economic grades of gold. This is strengthened by extremely high levels of antimony,
which is often a geochemical pathfinder for gold.
· Detailed geological mapping and drilling has commenced in the Diamond Jubilee and
West Jubilee Prospect
opcorn:
Nothing to really get excited about at this stage but at least they are heading in the right direction. Some potential historical copper and gold deposits, drilling underway so the next few months could get interesting.
MT COFFIN
· Springfield Minerals Pty Ltd Exploration Licence 3812 covers an area of 466 sq km
East of Copley in the Adelaide Geosyncline.
· The conditional farm-in agreement with Copper Road Inc. has not proceeded as the
conditions were not met in the required timeframe.
· The initial drilling target is the Mt Coffin Diapir. This structure outcrops over 5
square kms. Copper mineralisation is widespread in both the diapir and the
immediate surrounding sedimentary rocks.
· A number of copper mines were worked during the period 1880-1920 in the
sedimentary rocks surrounding the contact of the diapir. The ore consisted mainly of
secondary copper minerals. Average grade ore assayed 9 to 15% copper. Primary
sulphide ore was reported in the deepest workings. Recent XRF assays of rock chips
include zones containing up to 34% copper.
· Previous shallow drilling intercepted significant copper mineralisation. The drilling
program focused on the area peripheral to the diapir and adjacent to a black shale
and assays showed up to 2.2% copper.
· Only one core hole has explored the diapiric rocks that contain rafts of dolomitic
marble up to 1700m in length and up to 9m thick that contain significant
concentrations of copper sulphide minerals.
· A single core hole penetrated below the oxidised zone returned disseminated
chalcopyrite over the entire intercept of the unoxidized zone from 102 to 198m
including 5.5m of 0.9% copper. This layer has both geochemical and induced
polarisation anomalies.
· Recent XRF assays show that the copper mineralisation contain traces of uranium,
vanadium, gold, silver and tungsten.
· A small alluvial gold field with nuggets up to 13 pennyweights was worked close to
disseminated copper mineralization in the diapir.
· XRF assays and assays from exploration by Southern Cross indicate the potential for
economic grades of gold. This is strengthened by extremely high levels of antimony,
which is often a geochemical pathfinder for gold.
· Detailed geological mapping and drilling has commenced in the Diamond Jubilee and
West Jubilee Prospect
opcorn:Taken from HC, which took this from Fin Review March edition of Smart Investor
Just thought that you'd be interested to know that RMG gets a mention in the March edition of Smart Investor (under "Snapshot Stocks - page 77 - Brendon Lau).
"SI View - The fall in commodity prices isn't deterring the collection company from its plan to transform itself into a mineral explorer. It has already garnered interest from other mining firms and Chinese investors".
"Flexible is one way to describe RMG, which started life as a public company under the name of Frontier Petroleum. It moved into debt collection in 2000 and changed its name to RMG. Management now plans to turn it into a mineral explorer. Executive Director John Risinger believes there's more money to be made in mining, despite the commodity slump. "We have our own drilling business, we have our own geophysical instruments and our geologists work in-house, so we can operate and look after our commitments a lot cheaper than anybody else............RMG has sufficient funds to continue exploration activity through to 2010, Rissinger says. By that time, he expects to have discovered a resource with commercial potential and to have struck a joint venture to develop a producing mine. RMG is on the lookout for merger opportunities, particularly with companies with limited resources but promising exploration permits. It has also been talking to a number of Chinese inversors about taking a stake in some of its exploration projects."
Just thought that you'd be interested to know that RMG gets a mention in the March edition of Smart Investor (under "Snapshot Stocks - page 77 - Brendon Lau).
"SI View - The fall in commodity prices isn't deterring the collection company from its plan to transform itself into a mineral explorer. It has already garnered interest from other mining firms and Chinese investors".
"Flexible is one way to describe RMG, which started life as a public company under the name of Frontier Petroleum. It moved into debt collection in 2000 and changed its name to RMG. Management now plans to turn it into a mineral explorer. Executive Director John Risinger believes there's more money to be made in mining, despite the commodity slump. "We have our own drilling business, we have our own geophysical instruments and our geologists work in-house, so we can operate and look after our commitments a lot cheaper than anybody else............RMG has sufficient funds to continue exploration activity through to 2010, Rissinger says. By that time, he expects to have discovered a resource with commercial potential and to have struck a joint venture to develop a producing mine. RMG is on the lookout for merger opportunities, particularly with companies with limited resources but promising exploration permits. It has also been talking to a number of Chinese inversors about taking a stake in some of its exploration projects."
So after a few YEARS in hybernation RMG has begun to stir. Some large players have come on board lately i.e Forrest Capital as well as the old favorite Holloman Minerals and some of the Ascent capital boys are still there. Interesting to see if this finally shows some of the promise that has been hoped for.
ACQUISITION OF KAMARGA ZINC PROJECT
SUMMARY
•
RMG Limited (RMG) has agreed to purchase the entire share capital of Sunlander Nominees Pty Ltd (Sunlander). The consideration is the issue of RMG ordinary shares and performance shares.
•
Sunlander has an exclusive right to earn up to 100% of the Kamarga Zinc project from Teck Australia Pty Ltd (Teck) pursuant to a FarmIn Agreement.
•
Teck to become an RMG shareholder under the FarmIn Agreement.
•
The FarmIn Agreement is conditional upon RMG issuing the shares to Teck, and Sunlander assuming the obligations of certain Native Title Agreements. The Conditions must be fulfilled by 30 April 2011.
•
Kamarga’s JB zinc zone hosts wide intersections of low grade zinc and lead within which are higher grade zones of 5% to 20% zinc1.
•
The Company is targeting a Geological Target of 5‐15Mt @ 5‐10%Zn2.
•
The JB zinc mineralisation is 25kms southeast from the Century Zinc mine which may be in short supply of zinc ore in 20153 (MMG, 2010).
•
RMG has firm commitments to raise approximately $1.5m at 1 cent per share with a one for one free option attached.
•
Board and management team strengthened.
ACQUISITION OF KAMARGA ZINC PROJECT
SUMMARY
•
RMG Limited (RMG) has agreed to purchase the entire share capital of Sunlander Nominees Pty Ltd (Sunlander). The consideration is the issue of RMG ordinary shares and performance shares.
•
Sunlander has an exclusive right to earn up to 100% of the Kamarga Zinc project from Teck Australia Pty Ltd (Teck) pursuant to a FarmIn Agreement.
•
Teck to become an RMG shareholder under the FarmIn Agreement.
•
The FarmIn Agreement is conditional upon RMG issuing the shares to Teck, and Sunlander assuming the obligations of certain Native Title Agreements. The Conditions must be fulfilled by 30 April 2011.
•
Kamarga’s JB zinc zone hosts wide intersections of low grade zinc and lead within which are higher grade zones of 5% to 20% zinc1.
•
The Company is targeting a Geological Target of 5‐15Mt @ 5‐10%Zn2.
•
The JB zinc mineralisation is 25kms southeast from the Century Zinc mine which may be in short supply of zinc ore in 20153 (MMG, 2010).
•
RMG has firm commitments to raise approximately $1.5m at 1 cent per share with a one for one free option attached.
•
Board and management team strengthened.