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RMI is 40% high. Big volume and rising. I've been holding since few months at .006cent. All of a sudden trading halt. Is there any good news that they are going to announce. Anyone is holding RMI
RMI - Resource Mining Corporation
- Thread starter el_ninj0
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I got some RMI after their Quarterly produced a vol spike the next day in at .004 just the min so i would keep an eye on it.. no reason i can see of yet why it would jump 40% .. (tho pennys do..)
hence the Halt..
hence the Halt..
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Big day today guys looks to be confirming a breakout ATM with nearly 200m traded since 0.6 level, things are looking very bullish for RMI and in the ST on spec trading alone we should see much higher levels than the current 0.8.
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Big day today guys looks to be confirming a breakout ATM with nearly 200m traded since 0.6 level, things are looking very bullish for RMI and in the ST on spec trading alone we should see much higher levels than the current 0.8.
I am rather happy with this stock just now.. but, i have been looking all day for some news but dont really see anything specific..
Sean K
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What's the news mobcat? Really great volume and looks like a break from the down trend since Oct 09. Not sure about 'much higher level' though. Why? Was great volume in May too...Big day today guys looks to be confirming a breakout ATM with nearly 200m traded since 0.6 level, things are looking very bullish for RMI and in the ST on spec trading alone we should see much higher levels than the current 0.8.
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Gaps of Huge Vol in RMI latley 100m plus at times on a rising SP, something is buzzing in RMI,s 22M vol yesterday as well i went in for another 1000,000 today do,s seem very very cheap
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After todays update RMI is going to go off IMO pulled this from HC worth a read
So RMI have the WOWO Gap project and as the Quarterly has told us it is our companies main project ATM ....So whats WOWO worth to our company well we already know that our #1 Holder Sinom with 19% of our company is one of China's Conduit,s for for IO and Metals Etc..... Sinom being our # 1 holder is a huge gain for Head office it put,s us in the Big league when it comes to getting in front of the Big $$$$ exiting China ATM and finding there way into Aussie Junior Miners like little Our RMI with Mother lode IGV all the experts have run the numbers over WOWO and ATM the Spec is building big time on the feasibility study out due now to be released, that will lay it out in black and white just what the value of WOWO gap is in todays rising Nickel market.
WOWO Gap Project Valuation
In order to understand the value of the Wowo Gap Project, as part of the next stage for development and for information as RMC seeks to engage a major industry partner to undertake further work at Wowo Gap, the Board engaged Mr John Wyatt to undertake an independent valuation of the project.
The following is a direct quote from the summary of Mr Wyatts Report:
Based on the results of exploration completed to date within EL 1165, Wowo Gap, PNG together with an assessment of similar lateritic nickel/cobalt resources in Papua New Guinea, New Caledonia and Australia, the Wowo Gap Project has been assigned a current value within the range:-AUD$150M to AUD$600M and having a preferred value of AUD$168M
This valuation range was calculated firstly using what were believed to be suitably discounted net present values of estimated cash flows using information on mining costs and metal recoveries supplied by RMC.
The preferred value was selected by way of comparisons with other nickel/cobalt projects, particularly in PNG, nearby Caledonia and Australia.
Whereas the valuation date is based on current metal market conditions, the selected metal prices came from historical records over the past 20 years, between 1989 2009
According to Mr Wyatts valuation approach, the above value is based on the exploration value as opposed to an operational value, as such, an increase in the resource confidence level, may translate into an increase in overall project value.
The full valuation was released in the 2009 December Quarterly Report.
" the Wowo Gap Project has been assigned a current value within the range:-AUD$150M to AUD$600M and having a preferred value of AUD$168M"
Thats a range of 9.5c - 38c with a "preferred value of 10.7c a share
HUGE UPSIDE FROM THESE LEVELS CREW just watch RMI run hard as the story pans out
One can only imagine what RMI SP can do moving forward RMI is building as a mega spec play on the back of WOWO Gap IMO.... very happy to be on board the progressive team in a big way bring on the WOWO head office$$$$
So RMI have the WOWO Gap project and as the Quarterly has told us it is our companies main project ATM ....So whats WOWO worth to our company well we already know that our #1 Holder Sinom with 19% of our company is one of China's Conduit,s for for IO and Metals Etc..... Sinom being our # 1 holder is a huge gain for Head office it put,s us in the Big league when it comes to getting in front of the Big $$$$ exiting China ATM and finding there way into Aussie Junior Miners like little Our RMI with Mother lode IGV all the experts have run the numbers over WOWO and ATM the Spec is building big time on the feasibility study out due now to be released, that will lay it out in black and white just what the value of WOWO gap is in todays rising Nickel market.
WOWO Gap Project Valuation
In order to understand the value of the Wowo Gap Project, as part of the next stage for development and for information as RMC seeks to engage a major industry partner to undertake further work at Wowo Gap, the Board engaged Mr John Wyatt to undertake an independent valuation of the project.
The following is a direct quote from the summary of Mr Wyatts Report:
Based on the results of exploration completed to date within EL 1165, Wowo Gap, PNG together with an assessment of similar lateritic nickel/cobalt resources in Papua New Guinea, New Caledonia and Australia, the Wowo Gap Project has been assigned a current value within the range:-AUD$150M to AUD$600M and having a preferred value of AUD$168M
This valuation range was calculated firstly using what were believed to be suitably discounted net present values of estimated cash flows using information on mining costs and metal recoveries supplied by RMC.
The preferred value was selected by way of comparisons with other nickel/cobalt projects, particularly in PNG, nearby Caledonia and Australia.
Whereas the valuation date is based on current metal market conditions, the selected metal prices came from historical records over the past 20 years, between 1989 2009
According to Mr Wyatts valuation approach, the above value is based on the exploration value as opposed to an operational value, as such, an increase in the resource confidence level, may translate into an increase in overall project value.
The full valuation was released in the 2009 December Quarterly Report.
" the Wowo Gap Project has been assigned a current value within the range:-AUD$150M to AUD$600M and having a preferred value of AUD$168M"
Thats a range of 9.5c - 38c with a "preferred value of 10.7c a share
HUGE UPSIDE FROM THESE LEVELS CREW just watch RMI run hard as the story pans out
One can only imagine what RMI SP can do moving forward RMI is building as a mega spec play on the back of WOWO Gap IMO.... very happy to be on board the progressive team in a big way bring on the WOWO head office
$$$$
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Holders starting to take position now for pending WOWO update line wiper @ 0.8 took 20M shares in one hit today (nice) 42M total Vol today @ 0.8 sure is making the 0.3,s i got only 6 weeks ago very tasty ATM 2 cent target for me and its still cheap
Wowo Gap Resource Estimate Update.
A critical feature of the Feasibility Study is an updated Resource Estimate. Ravensgate Mineral Industry Consultants were engaged to complete this work. Ravensgate’s report has been received and Resource Mining Corporation (RMC) is pleased to announce the positive outcome of the independent resource estimate for the Wowo Gap Ni-Co Project in PNG.
Indicated Resource: 39 million tonnes @ 1.00% Ni, 0.06% Co
Inferred Resource: 50 million tonnes @ 1.01% Ni, 0.06% Co
(The updated resource estimate is quoted to the appropriate level of precision at a 0.8% Ni block cut off grade. The level of 0.8% Ni has been adopted to better define the quantity of higher grade ore available as potential plant feed.)
Previous Resource Estimate Comparison
Table 1 provides a comparison of the current and previous mineral resource BOTH using a 0.5% Ni cut off grade.
Table 1: Mineral Resource Estimate
Date JORC Classification Quantity % Ni % Co
Feb 2008 Inferred 200 Mt 0.83 0.07
Sep 2009 Indicated + Inferred 190 Mt 0.83 0.06
Note: This comparison compares well and is further enhanced by considering the substantial decrease in the insitu bulk density.
Reporting of the resource estimate at the block cut off grade of 0.5% Ni, the Inferred and Indicated Resources total 190Mt @ 0.83%Ni, 0.06%Co compares to the 2008 Inferred Resource of 200Mt @ 0.83% Ni. Although the updated resource estimate includes more material volume, the lower tonnage is due to the substantial decrease in insitu bulk densities (IBD) from the 2008 (Table 2) estimate. The updated IBD’s are based on measurements taken by Amdel, (Perth laboratories) from dry diamond core samples.
Table 2: Comparison of IBD between the two estimates.
Material Type 2008 IBD (g/cm3) 2009 IBD (g/cm3)
Limonite 1.5 1.1
Saprolite 1.5 1.3
Resource Details
The resource estimate was undertaken by Ravensgate Minerals Industry Consultants in Perth which included an additional 12 Ground Penetrating Radar (GPR) Profiles, 55 additional wacker drill holes and 27 additional diamond holes drilled since the 2008 resource estimate for a total of 25 GPR profiles, 155 wacker drill holes and 98 diamond drill holes.
2 cent target for me and its still cheap Wowo Gap Resource Estimate Update.
A critical feature of the Feasibility Study is an updated Resource Estimate. Ravensgate Mineral Industry Consultants were engaged to complete this work. Ravensgate’s report has been received and Resource Mining Corporation (RMC) is pleased to announce the positive outcome of the independent resource estimate for the Wowo Gap Ni-Co Project in PNG.
Indicated Resource: 39 million tonnes @ 1.00% Ni, 0.06% Co
Inferred Resource: 50 million tonnes @ 1.01% Ni, 0.06% Co
(The updated resource estimate is quoted to the appropriate level of precision at a 0.8% Ni block cut off grade. The level of 0.8% Ni has been adopted to better define the quantity of higher grade ore available as potential plant feed.)
Previous Resource Estimate Comparison
Table 1 provides a comparison of the current and previous mineral resource BOTH using a 0.5% Ni cut off grade.
Table 1: Mineral Resource Estimate
Date JORC Classification Quantity % Ni % Co
Feb 2008 Inferred 200 Mt 0.83 0.07
Sep 2009 Indicated + Inferred 190 Mt 0.83 0.06
Note: This comparison compares well and is further enhanced by considering the substantial decrease in the insitu bulk density.
Reporting of the resource estimate at the block cut off grade of 0.5% Ni, the Inferred and Indicated Resources total 190Mt @ 0.83%Ni, 0.06%Co compares to the 2008 Inferred Resource of 200Mt @ 0.83% Ni. Although the updated resource estimate includes more material volume, the lower tonnage is due to the substantial decrease in insitu bulk densities (IBD) from the 2008 (Table 2) estimate. The updated IBD’s are based on measurements taken by Amdel, (Perth laboratories) from dry diamond core samples.
Table 2: Comparison of IBD between the two estimates.
Material Type 2008 IBD (g/cm3) 2009 IBD (g/cm3)
Limonite 1.5 1.1
Saprolite 1.5 1.3
Resource Details
The resource estimate was undertaken by Ravensgate Minerals Industry Consultants in Perth which included an additional 12 Ground Penetrating Radar (GPR) Profiles, 55 additional wacker drill holes and 27 additional diamond holes drilled since the 2008 resource estimate for a total of 25 GPR profiles, 155 wacker drill holes and 98 diamond drill holes.
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Seems I'm not the only one to have missed out on this speculative high flyer.
RMI's latest prospect (of many over the years) is nickel exploration in Western Tanzania. It seems to have gotten the rabid interest of the spec day trade crowd.
RMI's latest prospect (of many over the years) is nickel exploration in Western Tanzania. It seems to have gotten the rabid interest of the spec day trade crowd.
