RMI - Resource Mining Corporation

[prawn_86]

I know that some things are beyond a company's control, but i wish that they would not set dates if they were not 100% sure about them.

shows bad management in my eyes.

the management team was one of the potential downsides i highlighted in my very first analysis...

 

[countryboy]

Another strong volume today around 8c. (above 3million traded) Anything for those into charts to suggest an upward movement?

 

[INORE]

Hi Everyone,

Just had contact with the company and got a few answers from Alicia Pugh. Thought I would post a few comments that I took from it.

Rain in PNG has still be unpredicatable, but the work rate has improved substantially.

GPR results at Wowo are close to being completed and the delays have been due to technical problems on the part of the contractor supplying the service.

Drilling will be complete on the main resource by October. There will be announcement very soon updating the progress with the Wowo project.

Not alot of info I know. But gives a start on what we can expect in the announcement. GPR results still not completed, I believe the last quarterly was aiming for 2-3 weeks.....

Thanks again Tibby....do you know if there will be any drill results posted in this weeks announcememt...I think they had drilled four holes??? Did Alicia give you any idea if the drill results would be released as they become available or just at the end of October? Cheers.

 

[tibby]

Thanks again Tibby....do you know if there will be any drill results posted in this weeks announcememt...I think they had drilled four holes??? Did Alicia give you any idea if the drill results would be released as they become available or just at the end of October? Cheers.

From what I got it seems as though the announcement in the next few days will be an update of the entire Wowo gap project..available drill results and all. The one emphasis I took was the idea that she told me that work rate has improved substantially...not a lot of info I know...but I came out of it with a very positive vibe...

 

[juw177]

A positive announcement comes out and stock price falls right after. Gee, I didnt see that one coming.

 

[INORE]

Well announcement out....I think they should have waited for a few more drill results towards the east of their tennament as I believe these results would/are going to get better and better ( u can see the results are getting better towards the east on the 3 results announced today)...I think they should have made this a bit clearer in their announcement....any thoughts?

 

[alanding]

Still have to wait for a long to rise back to 10C. If RMI cannot find a JV and cannot get finance, we will lost money. Hope get good news from RMI

 

[GOSAFAS]

I don't see this as a great announcement. On the contrary, I see lots of negativity reading between the lines.

I also agree that they are desperately in need of a JV partner, otherwise they are cactus.

For mine, there are many other companies with far more potential and upside then this one - but thats just my humble opinion.

Have fun!

 

[INORE]

I don't see this as a great announcement. On the contrary, I see lots of negativity reading between the lines.

I also agree that they are desperately in need of a JV partner, otherwise they are cactus.

For mine, there are many other companies with far more potential and upside then this one - but thats just my humble opinion.

Have fun!

G
perhaps you could share with us the many other companies with far more potential and upside......so we could see why you even bothered posting your thoughts without any specifics.

 

[prawn_86]

I think all holders know by now that RMI have a cash shortage situation. But hopefully the directors managed to talk to a few people who are interested while they were overseas.

I think that one area the management team could improve upon is their announcements, which INORE mentioned. They need to put a more positive light on thier news rather than just reporting it, plus releasing a steady stream would also help maintain interest. They should take a leaf out of FNT's book, those guys seems to be able to sell any result lol.

There is still a lot of potential upside to RMI, despite the cashflow situation, but it is, and always has been a speculative stock.

GOSAFAS, I too would like to know of other stocks out there who's market cap is valued at less than 0.1% of their in situ resources.

 

[resourcesman]

RMI has large potential reserves, but not particularly high grades..... its only going to be economical at high nickel prices, which hasnt been the case the past few months... I guess whether this resource is worth anything depends on whether you believe in higher nickel prices in the longer term when RMI can actually develop this resource.
If the nickel prices become too low, and remain that way, this is not going to be economical and the resources will be worth almost nothing..... having said that, i dont think that will be the case

Anyway, I dont see it moving too much in the short term, until the Oct end of drilling, so I got out for now.

Then again, I had the same thought on Bannerman after I bought at the bottom a week or so ago and sold out soon after, but it ran alot harder once I got out so I left alot of profit on the table.

good luck fellas

 

[golfmos123]

Agreed guys - not the news we were looking for really. Might be a while until we get back to double figures now. Still a good story but might run out of some steam for while without an interesting update or two.....

 

[prawn_86]

Over 6mill traded in the past half hour. Someone is buying up big, possibly in anticipation of further drill results which must only be a week or two away now.

any other reason people can think of?

 

[norip_zxy]

nobody wanna talk about RMI, but really strange trading in morning...

what do u guys think of the latent capacity of Wowo?
good news or bad news will come out in next week?

 

[prawn_86]

i think that RMI has potential, depending on the results.

the problems however, are the fact that some people may be looking to get out at 'break even' if they purchased in or close to double figure. And a lot of people are wanting to know how RMI are going to solve their cash situation so this may detract from any positive announcements

 

[INORE]

Over 6mill traded in the past half hour. Someone is buying up big, possibly in anticipation of further drill results which must only be a week or two away now.

any other reason people can think of?

hi prawn, do you know if the 6mill that went through was from a few big orders or was it lots of medium orders?

does anyone feel like contacting the company and ask about any pending results?

 

[prawn_86]

hi prawn, do you know if the 6mill that went through was from a few big orders or was it lots of medium orders?

does anyone feel like contacting the company and ask about any pending results?

i think one order was over 2mill, but i dont have very sophisticated software or anything so that is just from memory. My broker only lets me see the last 10 trade volumes.

i dont think there is any need to contact the co. In their last ann on 28/8 they said:

Samples from a further 6 holes for approximately 140 metres of drilling have been sent for assay determination. Assay turnaround is three to four weeks.

By October, diamond drilling will be completed over the current resource area

The pit has been mapped and sampled with results expected in September.

so we know that at least one set of results must be getting close now. hopefully late next week

dont forget there could also be an ann regarding finances soon. Either farm-in, JV, placement etc etc

 

[INORE]

ok thanks....i did a qik calc and 6 million shares in a half hour was around 350k's worth of stock which is nothing to sneeze at on a small stock like this for only a couple of orders....hmmm insider trading or a very big gut feeling we will probably never know.....i thought i read a post of someone on this forum that is trading on purely large order quantities that go thru before any announcements have come out....i wonder what their thoughts or if this would have been a big enough trigger for them to buy RMI after these volumes we saw this morn???? (if that makes sense) cheers.

 

[SGB]

hi prawn, do you know if the 6mill that went through was from a few big orders or was it lots of medium orders?

does anyone feel like contacting the company and ask about any pending results?

Heres the Course Of Sales for today guys. Only 1 really big order for 550000@.07. Plenty of 100000 to 200000

Cheers
SGB

 

[prawn_86]

thanks SGB,

is there anyway i can access datat like this without having to pay for it? as my broker doesnt provide it