RMI - Resource Mining Corporation

[golfmos123]

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"?

I agree with you prawn - I've held RMI for a while now and I guess still don't fully understand the SP drop from 10s down to 5s. I still think there is potential there but the patience is being tested, especially when there are probably other better areas for my money to be sitting now...

Would love to see some more info George......

 

[SGB]

Finally some news today guys. Management finally back from chrissy break.

Any thoughts? Long time between discussions.

 

[braydn]

Any thoughts on this mornings rise ? At the moment we are up 20% on no news.
Is this just making up lost ground ?

 

[jonojpsg]

Project update out. Initial inferred resource of 200m tonnes @ 0.83% Ni, 0.07% Co, which looks pretty good - say compared to MLX resource which is obviously much more conveniently located and much further down the track towards development, but MLX has MC of $350m compared to RMIs of $16m.

WHat do people think? Worth considering again? Also with Argyle Iron divestment to provide more cash to help progress things? Anyone know what the Argyle project is worth?

 

[prawn_86]

They have been saying that they are going to get rid of Argyle for almost a year now.

These guys have a huge resource, but poor management, combined with a bit of sovereign risk.

I used to be very bullish on these guys, however I think they need a decent geologist and/or marketer on their board.

Nevertheless there is a huge gap between IGV and MC thats for sure.

 

[JJKools]

Fair point, RMI could do with a marketer, however there was much to like about the last announcement: 200mt @ .85% Ni.Mkt Cap $20 million.

There is no doubt in my mind that this stock provides massive upside potential and though still plenty of work to do, IMO Rmi is a bargain at current levels. DYOR im happy accumulating at these prices.

Best wishes to all.

 

[countryboy]

at 4cents a share i couldn't resist taking a position in this stock Upside is ...well down side is only 4c ! so upside is whatever From my quick look through announcements the resources is still open in one direction. another company mining up the road..for me the potenial is there.

 

[prawn_86]

Hey guys,

my only problem with this stock is the fact that it has had a huge resource for almost a year now, and yet, apart from a quick run up and down, the SP has languished a bit.

Check out my original post:
https://www.aussiestockforums.com/forums/showpost.php?p=176839&postcount=45

and the few after it.

even back then it is way undervalued on an IGV perspective, but nothing seems to happen.

Need a real long term outlook if you are going to hold imo.

 

[SGB]

Are we starting to see a technical recovery for RMI?

In recent months RMI, to say the least, has buried the bone in the doghouse for its longer term fundy holders, an absolute shocker, but technically it could be starting to turn the corner.

Over the last few weeks it seems to have found a solid base @ .04c and with higher highs and higher lows now forming in its price action, gives buyers a bit more confidence to start collecting longer positions.

Even though daily volumns havn't been going through the roof the RSI is steadily heading north which is a good indication for smart accumulators and also there needs to be a gap filled between .11 and .12c at some stage during its cycle.

In saying that, this game does change on a daily basis, and one has to expect the unexpected but things still look more promising than they have been for a while.

SGB

 

[pan]

Sinom Hongkong Ltd has brought another stake in the stock today increasing to 15.8%. There is potential for the stock its just the management need to get their act together. This year should be a turning point in where this company is going to head.

cheers pan

 

[Georgeb]

There is a good reason why they are increasing their stake. People that run businesses such as Sinom are not stupid and they buy into companies where they see value and money to be made.

 

[Sean K]

Are we starting to see a technical recovery for RMI?

In recent months RMI, to say the least, has buried the bone in the doghouse for its longer term fundy holders, an absolute shocker, but technically it could be starting to turn the corner.

Over the last few weeks it seems to have found a solid base @ .04c and with higher highs and higher lows now forming in its price action, gives buyers a bit more confidence to start collecting longer positions.

Even though daily volumns havn't been going through the roof the RSI is steadily heading north which is a good indication for smart accumulators and also there needs to be a gap filled between .11 and .12c at some stage during its cycle.

In saying that, this game does change on a daily basis, and one has to expect the unexpected but things still look more promising than they have been for a while.

SGB

Looked like it was recovering in Mid to late Feb, but back in the sin bin again. All I can see at the moment, is that .03 could be confirmed as a potential floor. Hard to believe they have that resource sitting there and their MC is languishing like this. What's really wrong with the deposit? Is it going to have an extraodinary capex/opex? Grade too low?

 

[SGB]

Looked like it was recovering in Mid to late Feb, but back in the sin bin again. All I can see at the moment, is that .03 could be confirmed as a potential floor. Hard to believe they have that resource sitting there and their MC is languishing like this. What's really wrong with the deposit? Is it going to have an extraodinary capex/opex? Grade too low?

Hi Kennas,

Yes, how things have change technically in the past few weeks. RMI supply/demand ratios have fallen from about 1.5/1 to 3/1 which is causing lack of confidence in price improvement once again. But in fairness these number ratios have been set in all the major juniors, not too many going forward at the moment. 3c does now seem ominous.

RMI seems to have the resources there by going off their previous reports, Wowo Gap Resource ( 200 million tonnes @ 0.83% Ni, 0.07% Co, Representing 1.7 million tonnes of contained nickel) but they just don’t seem to be able to know how to manage its surfacing. Lack of cash also seems to have an impact as well.

Sinom Hongkong LTD increased their stake to 75,616,762 or 15.83%. Sinom currently has its headquarters in Hong Kong and other offices in Shanghai with a team of 30+ staff experienced in fields of: trading, ship charting, project development, and financial investment.

The founded and Managing Director of the SINOM Group is Mr Zhang who is also currently a NED of RMI.

As a trader I’m taught not to fall in love with stocks but I just like the future of this thing, especially at current prices. They just need to get it to the surface.

SGB

 

[action_jackson]

RMI up 20% on no news..

Could something be finally brewing? Probably one of the few iron Ore explorers yet to increase in value within the last month or so.. well except for today that is..

 

[Georgeb]

When are we expecting an announcement with this? It seems to be stagnant..Are they selling their iron ore tenement?

 

[speculator101]

Sorry, to bother all, just doing some light reading...
and i found this... Does RMI still own part of a gold mine??

23 September 2003
FOR IMMEDIATE RELEASE
ZIMBABWE GOLDMINE OPTION
============================
Resource Mining Corporation Limited is pleased to announce that it has executed an Option and
Share Sale Agreement to acquire a 60 per cent interest in a gold mine in Zimbabwe as previously
announced to the market on 6 August 2003.
Resource Mining Corporation has the option to acquire a 60 per cent interest in a company
incorporated in Zimbabwe which holds the right to acquire 100 per cent of a corporation that holds
the gold mine. The exercise of the option is subject to the completion of a number of matters,
including:
(a) securing the required funding;
(b) shareholder approval;
(c) regulatory approvals (if any) in Zimbabwe.

As to the post above,
second question:
Does RMI own 75% or 100% of Argyle?
If it does'nt, who is this GAUNLET corp (2004-2005 news) who (originally sold 75% to RMI) has control of the other 25%?

cheers.

 

[countryboy]

rmi courtesy of someone exercising options have $1 million to move forward existing projects. this was badly needed money as they were getting close to running chook raffles to pay wages.
Surge of 20% today on this news...dont get carried away...went from 2.9c to 3.4 c !

 

[samt75]

I am a current shareholder of this company, bought in around the 6c levels.
Is there any potential for this company in the future?
Anyone know anything about them just after a bit more info

 

[Kremmen]

This evening's news: RMI will not participate in cash call in Three Rivers joint venture with SRL. As a result, their share of the venture will drop from 30% to 15.73%.

It would seem that they are either too broke to pony up the cash, or don't consider the Three Rivers project worth it. (As an SRL shareholder, I hope it's the former rather than the latter.)

 

[razsta]

RMI jumped 75% today. Now I am thinking that is just on the back of the Chinese. Not sure, what do others think.

Iv also noticed that RMI has been bouncing between 4 and 5c. Shortselling I think a quick 20-25% for a few people.

I guess my main question is that does RMI have enough substance to ride out the next 12 months and progress with there plans even though the price of Nickel has taken a beating?