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RMI - Resource Mining Corporation

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Still holding the trigger waiting to buy in. Retraced only slightly. Held out well. Very strong support at the 4.8-5c mark. A lot of buyer support at this mark. I would draw tight support & resistance levels at 4.8 & 5.5 respectively. If it holds above 4.8-5c in the next few days and then breaks at 5.5c, thats a big buy signal for me. Only time will tell.
 
The last four days of week see RMI's trade volume exceed 25% of total issue capital. There is no ann. regarding substantial shareholder. It is just a group of people speculating?
 
Did you not notice the change of directors interest notices X 3. Directors gobbled up millions of shares.

source: ASX (RMI) 7/12/06 announcements

When directors buy then the heards follow.

Also note that RMI are in discussion with a number of Chinese steel mills, (more speculation) will continue the share price rises, with some retraces
 

Yes, I do. They are free shares, right issue and taking up of right issue shortfall (@2.2c?) It does not mean a lot.

One good example is a newly appointed MTN director, using around $200,000 own money purchased the company shares. I hope it is not insider trading.
 
check out RDS announcement today:


RMI owns 25% of this potential world class Ni-Cu-PGE discovery. Report seem compelling however is technical to say the least.......

RDS up 17% yesterday before trading halt and looks to open up another 10% today......
 
Got myself a reasonable parcel @ 0.049/ to get myself a stake of this RDS action.

What is the general consensus here amongst holders.

In the announcement today, RMC have noted "extremely high Cu, Ni and PGE soil lag geochemistry", but the results don't seem to be extreme by any margin.

quote: peak values of 1900ppm
Cu, 940ppm Ni and 72ppb PGE

Am I missing something here? 1900ppm is no Cudeco! Those guys are finding flaming native copper in the sand
 
Georgeb said:
My broker tell me RMI is a buy at these level. Does anyone know if this is a good buy?
Click to expand...

I bought it because of over one million tones of contained nickel. It is very attractive for a company with such small EV. I have bought it at much lower price though.

According to my judgment, recently, this stock has been traded by a group of traders. Because there is no substantial shareholders after over 25% of issue capital was traded within three days. Obvious a group of people are recycling the shares.

Therefore, the timing is very important if you do a short-term trading. For long-term, it depends on your judgment about the value of this stock.
 
Anyone with a bit of tolerance for geopolitical risk should serious consider this little stock. With less than $25m market cap on fully diluted basis, it likely controls over nickel deposit with in ground value over US$50b! Currently the ore body is estimated at 120mt at 1.2% Ni, and 0.1%Co.

You can use 1c to control $25 deposit, or $1 to control $2500. Chines has got the Ramu nearby, it won't hurt for them to add another one. (If they stop slavery)
 
Stock did a nice rise today.

IMO if the stock passes todays close it should be able to keep the trend going upwards. I saw 4.3c as a resistance value due to the trend created from the previous 2 highs being connected.
 
RMI up today .011c from .041 to .052c (26%), just off the daily highs. Volume up around 10 times the normal of late. Drilling at Wowo gap has been going for several weeks. An ASX speeding ticket did not provide any new information.

Also drilling has been underway at the Western Musgraves with the RDS JV but RDS was quiet and stable.

Has anyone got any thoughts on this movement.
 
I looked at this last week when it was at 4.2-4.5.

It was on my watch list, but I misssed it.

I liked what I read.

Dont hold though.
 
RMI continuest to rise ending up over .6 at 6.3c. At one stage it was down in early trade half a cent at 5.1c so it was quiet a turnaround. The last speeding ticket got the standard I know nothing response but I think someone knows. I have heard a couple of rumours but I cannot say due to the fact they are unsubstantiated. In at 3.75c average and holding on.

Kevro
 

Hi Kevro,

You've done very well with this one thus far. I feel that even the smallest of nickel explorers are now having their day in the sun as the nickel price goes from strength to strength. I'm surprised it took this long for the smaller nickel explorers to start running. Given the panic of early Mar 07, it seems that the smart ones brave enough to hold on are now smiling the most. Good luck with your holding.
DYOR
 

Hi Greggy,

Thanks for the ERL tip, did very nicely on that one and still got 100k oppies at 1c to come.

Been a very good week for RMI. I am surprised at the small number of sellers given that it has in the order of 425 million shares on hand. I think accumulation is occuring but they are have had to bring the SP up a bit to get some selling and at the same time I don't think they won't to draw attention by having another speeding ticket.

Nickel at Wowo gap and with RDS in the West Melgraves and they are both currently being drilled. Wowo Gap is the lateric variety but the RDS JV is the sulpher variety. Looking good for the future.

Kevro
 
RMI looks like it might open at 7.5c or higher, off any good announcement this stock -should- run.

What do you guys think ?
 
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