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RMI - Resource Mining Corporation

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Bullion said:
Yes, noticed this too but was waiting for it to get pulled on open. But didn't... Whoever it is, they aren't chasing to buy though...
Click to expand...

Time(AEST) Price Volume Value Condition Codes
11:04:55 0.0660 12,000 792.00 XT
11:03:06 0.0660 10,000 660.00
10:52:18 0.0650 14,810 962.65
10:52:18 0.0650 50,000 3,250.00
10:52:18 0.0650 800,000 52,000.00
10:52:18 0.0650 100,000 6,500.00
10:52:18 0.0650 35,190 2,287.35
10:51:08 0.0660 50,000 3,300.00
10:51:08 0.0660 190,000 12,540.00
10:50:16 0.0660 195,000 12,870.00
10:50:16 0.0670 55,000 3,685.00
10:41:57 0.0670 20,000 1,340.00
10:31:25 0.0680 50,000 3,400.00 XT
10:15:37 0.0680 200,000 13,600.00
10:06:41 0.0680 200,000 13,600.00
10:06:41 0.0680 200,000 13,600.00
10:06:41 0.0680 15,000 1,020.00 XT
 
The only prob is the grades at Wowo aren't that great, from what i understand laterite nickle deposits need to contain about 0.1-0.2 % to be really profitable

Most of RMI results so far are under 0.1% mostly around 0.8%. I think these lower end results combined with the location (which requires high cost for transport and difficult access) may put a real downer on this project.

Any thoughts?
 
yeh i was actually unimpressed with the last announcement, and sold my final stake in them after reading the grades.

knowing my luck though they will prob pull a JV with a big co and the price will go through the roof lol.

seriously though, i agree with Kiwi and think that the grades needed to be higher, hence why i sold.
 
What happaned to your long term view on RMI prawn?? i think this has got be the announcement we have all be waiting for seen we havnt had much joy over RMI in the last couple of months since hitting 16c! Good Luck to all holders, hopefully our Patience will finally get paid off
 
i do usually have a long term veiw jackal, but with spec stocks i am constantly re-evaluating, after each announcement. With my small amount of capital i cant afford to hold and forget about explorers without an income.

this ann will probably be pay back for me selling out lol. i do still think they will be ok long term, especially once the cash situation is sorted.
 
Announcement out,heres the link http://www.asx.com.au/asxpdf/20071012/pdf/31536s56d6fd4n.pdf Also seems a bit contradictory"A limited portion of the funds will also be expended on the Argyle Iron Ore Project." and then it says"RMC is in the process of seeking to dispose of this asset or enter into a Joint Venture with
an interested party." So which is it,do they want to axploit it or sell it
 
I am think about the capital raising.
I'd rather a placement than this kind of "RENOUNCEABLE RIGHTS ISSUE"
The SP will go down to 5.3
 
yeh i agree.

will be a couple months before a rise in RMI imo. i doubt they will release any other majorly price sensitive news until after all the rights issue things are sorted.
 
YOUNG_TRADER said:
My guess is its the long overdue placement/capital raising, the company has nothing left in the bank, so I would be very surprised if this wasn't the capital raising,

Lets hope its with an Insto or a major like MGX (who is already on the registry)
Click to expand...

well I knew it, I knew that they needed the cash and I knew that they'd be raising funds

And yet again they do it absolute bargain basement levels, why RMI why?

Why did you not raise it when the SP was 10c-16c? CVI did, why wait untill your SP tanks and then raise money?

As with BYR, I am starting to lose confidence in RMI's management

A very poor result IMO
 

Maybe the big stake holders didn't plan to pay higher issue price for RMI, they want a bargain, also that's the reason for the price down.
All companies like high issue( placement) price.
 
Well, here's something interesting,

Was reading all of RMI's recent ann's, the investor presentation, where they specifically talk about selling part or all of they're Argyle Iron Ore project,

At first I was dissappointed, why sell an Iron Ore deposit in such a boom mkt? But then I have very little faith in the managment to actually pull off the project as they have been talking about it since late 2005,

If you read their annual report they were quite serious about getting into production, they had secured 2 Hong Kong Steel traders as corner stone investors, they conducted scoping studies, had shipping and trucking routes planned etc etc yet to date nothing,

So after further thought, perhaps the best outcome would be to partially sell of the project, so that someone capable can actually develop it and RMI retain a free carried interest.

So then I was reading the annual report and I came across its top 20 shareholders and guess who's been buying? Cape Lambert Iron Ore, CFE, not many, about 5m, but it still begs the question why?

My best guess is that CFE is going to JV the Iron ore project with RMI and they are taking a strategic investment in RMI, ie like AQA did with its Iron ore JV partners RHI and now HLX. I'm guessing they're buying before announcing the JV so as to get the cheapest price possible.

Interesting to say the least, so I bought some more this morning and added to the portion I was holding from way back when.

Thoughts?

p.s. There's a 1 for 10 rights issue @ 5.3c under way, stock goes Ex tomoz, but given its 1 for 10 I expect minimal selling
 

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great spot you got there YT.
I didn't realize that CFE is interested in RMI at all.
well done. hope this will turn out to be good just like HLX with AQA.
thanks for the info.
regards
ps : still holding and might buy the right issue.
 
RMI is holding up quite well. i expected to be able to buy at 5.3c within a few days. Strange how volume rises just prior to an announcement of any kind. Wish i was privy to that sought of information !
 
Rights issue closes Tuesday. It will be interesting to see where the price leads from here as I think it's been capping the price as of late.
 
Well, a significant jump today, up 15.79%. IHMO not all linked to 1 for 10 issue closing tomorrow. I have taken the offer and also doubled my holding ( not overly large ) Patiencemay pay off !
 
i holding some rmi shares i got allocate rights shares how do i buy some through commsec its got (rmira $0) need help?
also do i pay at current price or do i get it @ the issued price i think it was $0.053
 
RMI is cheap at these levels. It seems from reading the AGM presentation there is a good chance of a resource upgrade. This will definitely appreciate nicely in the comings months plus we have the Sinom (Hong Kong) connection as well.
 
George, i was one of the original posters on RMI and think it has potential.

But can you provide evidence/research as to why it "will definitely appreciate"?
 
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