RMI - Resource Mining Corporation
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prawn_86
Mod: Call me Dendrobranchiata
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well i've just got back from a 10 day holiday and am pleasantly surprised to see how well RMI has done without any news. always a nice thing to come home to 
hopefully the next ann will kick it up above the 10c barrier
hopefully the next ann will kick it up above the 10c barrier
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What a cryptic post!!!
What's with the 'female' bit?
Is there some underlying meaning here?
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I think he wants us to play a guessing game, and when we get the right answer we get a reward. I'll be first: Jan Somers!!
200M= 40M+60M?
I am confused. Can you explain it to me?
They sold and bought, total amout traded over 200mil in last two weeks, but net sales was 60mil,40mil in hands. I think they got lots two or three months ago.
Hey There Stefano.
Welcome to ASF and look forward to being able to help where I can , though I'm fairly new round here 2.
There are many others at ASF that are really helpful and will see you are new here.
Some of the rules have tightened up around here, to reduce unscrupulous people intentionally ramping stocks for their benifit, and new members buying them only to find them fall.
Anyway hope your soaking up all the great posts, and may find the advanced search useful as well.
https://www.aussiestockforums.com/forums/search.php
Cheers
SevenFX
.. as someone in the previous posts pointed out.. it appears commonwealth were trading/manipulating the stock..
its possible money profits from ady are also pouring into this stock..
both companies have massive resources for low sp..
i don't see a gap in the charts from the last pump and dump either juw if thats the type of gap your talking about..
cheers whitta
its possible money profits from ady are also pouring into this stock..
both companies have massive resources for low sp..
i don't see a gap in the charts from the last pump and dump either juw if thats the type of gap your talking about..
cheers whitta
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Guys when it says Commonwealth bank that means CommSec accounts, not actual CBA,
Just like NAB = NAB Online Acc's
ANZ = Etrade
And so on
There is no way in hell the CBA did a pump and dump no way,
It was traders playing games, but it doesn't matter,
Look out how CUL has performed despite all the pumps/dumps/trades/swings etc etc
It took off from a base of 5c, hit the 100% level (10c) took a week or 2 to break it and is now firmly above it at 12c/12.5c
RMI took off from a base of 6c which means 100% level is 12c,
In any event Wowo results are due soon and this has the potential to do a JRV re-rating imo
Just like NAB = NAB Online Acc's
ANZ = Etrade
And so on
There is no way in hell the CBA did a pump and dump no way,
It was traders playing games, but it doesn't matter,
Look out how CUL has performed despite all the pumps/dumps/trades/swings etc etc
It took off from a base of 5c, hit the 100% level (10c) took a week or 2 to break it and is now firmly above it at 12c/12.5c
RMI took off from a base of 6c which means 100% level is 12c,
In any event Wowo results are due soon and this has the potential to do a JRV re-rating imo
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Looks to be getting ready to run,
CUL look alike in terms of trading IMO
Looks like accumulation to me, lots of 1m buys, but then lots of 1m sells too
Maybe 10c is confirmed support now?
Techies whats the chart say?
CUL look alike in terms of trading IMO
Looks like accumulation to me, lots of 1m buys, but then lots of 1m sells too
Maybe 10c is confirmed support now?
Techies whats the chart say?
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Guys, my fundamentals for RMI got buried so I am reposting them,
Just like CUL, RMI should get towards my intial target of 15c
Techies that was a strong close, what do you see on the chart
Mkt Structure
Shares
430m
Mkt Cap @ 7c = $30m Current
Mkt Cap @ 15c = $65m Target 1
Mkt Cap @ 20c = $86m Target 2
TOP 20 = 52%
Substantial Shareholders
Sinom (Hong Kon Stell/Iron ore Insto Group) 13.4%
ANZ 8.4%
Mount Gibson Iron MGX 7.4%
Cash
$2m not alot so will obviously need more down the track
Projects
Wowo Gap Nickel, 100%, PNG
120mT@1.2%Ni + 0.1%Co = 1.7%Ni Equiv
Note that my research on Wowo Gap has found that based on all the historical work, the PNG government is confident to quote a JORC of
300Mt@1.6%Ni Equiv
Valuation
As its a laterite Project I'd say once the JORC is firmed up a $1000/t EV is appropriate (Note Spot $35k - $50k/t)
For now until we recieve assays and confirmation of the mineralisation I will use $100/t Ni EV
120Mt@1.7%Ni Equiv = 2Mt+ Ni @ $100 = $200m = 47c RMI
Now the mian points are
1. Although the current JORC has a low confidence level, detailed research of PNG databases has revealed a JORC of 300Mt@1.6%Ni Equiv is being quoted, so there is plenty of upside to the jorc, this in turn has greatly increased my confidence in the project.
2. Given the huge technical and infrastructure costs, a JV with a major is a must! = Farming out/down of interest, but see HIG, they sold a majority stake in Ramu (145Mt@1.5%Ni Equiv) to the Chinese so a JV partner shouldn't be a problem
Blackstone/Michael Hills Ni/Cu/PGE/PGM, 25% Free Carried by RDS, Musgrave Province W.A.
The project is 30Km's away from WMC's Babel and Nebo Nickel Sulphide deposits,
While its early stages, Patersons are highly encouraged by the work so far and belive that RDS/RMI are onto something quite promising here
Valuation
I like Patersons fully agree that the bulk of RDS's current mkt cap is attributable to these projects,
Hence a comparative valuation can be made
RDS 90m shares @ $1.40 = $26m for 75% Interest
Thus RMI's 25% Interst is worth $42m = 9-10c approx RMI
Argyle Iron, 75%, W.A. near Wyndham
JORC 17Mt@55%Fe
Unfortuantely this deposit is somewhat stranded and RMI will need to show a clearer path to development before I will value it properly,
However apparantly their has been strong Chinese interest in a potential JV, once one appears I will re value this project
Valuation
As stated, due to development uncertainty the project only deserves an EV of $2.50/t vs $5/t I was happy to use for CUL's
17Mt@55%Fe = 9.35Mt, 75% Interest = Net 7Mt's Fe
7Mt's Fe @ $2.50/t = $17.5m = 4c RMI
If a chinese JV or clearer path to development appears I will be happy to use $5/t = 8c RMI
Qld 3 Rivers Ni/Cu, 10% Free Carried by SRL, Greenvale Qld
SRL should have drilled 3 deep holes to test for NI/Cu sulphides, not sure where this project is at
Summary
- WOWO could be a company making project, remember JRV's run? 400% in a month based on its huge laterite Nickel Project
- The RDS JV underwrites/implies an SP of 9c-10c
- The Argyle Iron Ore Project adds 4c in spec value (8c once I see JV etc)
Total Value I see pre Wowo Gap rerating = 23c
After more confidence in Wowo = 40c+
Just like CUL, RMI should get towards my intial target of 15c
Techies that was a strong close, what do you see on the chart
RMI
Mkt Structure
Shares
430m
Mkt Cap @ 7c = $30m Current
Mkt Cap @ 15c = $65m Target 1
Mkt Cap @ 20c = $86m Target 2
TOP 20 = 52%
Substantial Shareholders
Sinom (Hong Kon Stell/Iron ore Insto Group) 13.4%
ANZ 8.4%
Mount Gibson Iron MGX 7.4%
Cash
$2m not alot so will obviously need more down the track
Projects
Wowo Gap Nickel, 100%, PNG
120mT@1.2%Ni + 0.1%Co = 1.7%Ni Equiv
Note that my research on Wowo Gap has found that based on all the historical work, the PNG government is confident to quote a JORC of
300Mt@1.6%Ni Equiv
Valuation
As its a laterite Project I'd say once the JORC is firmed up a $1000/t EV is appropriate (Note Spot $35k - $50k/t)
For now until we recieve assays and confirmation of the mineralisation I will use $100/t Ni EV
120Mt@1.7%Ni Equiv = 2Mt+ Ni @ $100 = $200m = 47c RMI
Now the mian points are
1. Although the current JORC has a low confidence level, detailed research of PNG databases has revealed a JORC of 300Mt@1.6%Ni Equiv is being quoted, so there is plenty of upside to the jorc, this in turn has greatly increased my confidence in the project.
2. Given the huge technical and infrastructure costs, a JV with a major is a must! = Farming out/down of interest, but see HIG, they sold a majority stake in Ramu (145Mt@1.5%Ni Equiv) to the Chinese so a JV partner shouldn't be a problem
Blackstone/Michael Hills Ni/Cu/PGE/PGM, 25% Free Carried by RDS, Musgrave Province W.A.
The project is 30Km's away from WMC's Babel and Nebo Nickel Sulphide deposits,
While its early stages, Patersons are highly encouraged by the work so far and belive that RDS/RMI are onto something quite promising here
Valuation
I like Patersons fully agree that the bulk of RDS's current mkt cap is attributable to these projects,
Hence a comparative valuation can be made
RDS 90m shares @ $1.40 = $26m for 75% Interest
Thus RMI's 25% Interst is worth $42m = 9-10c approx RMI
Argyle Iron, 75%, W.A. near Wyndham
JORC 17Mt@55%Fe
Unfortuantely this deposit is somewhat stranded and RMI will need to show a clearer path to development before I will value it properly,
However apparantly their has been strong Chinese interest in a potential JV, once one appears I will re value this project
Valuation
As stated, due to development uncertainty the project only deserves an EV of $2.50/t vs $5/t I was happy to use for CUL's
17Mt@55%Fe = 9.35Mt, 75% Interest = Net 7Mt's Fe
7Mt's Fe @ $2.50/t = $17.5m = 4c RMI
If a chinese JV or clearer path to development appears I will be happy to use $5/t = 8c RMI
Qld 3 Rivers Ni/Cu, 10% Free Carried by SRL, Greenvale Qld
SRL should have drilled 3 deep holes to test for NI/Cu sulphides, not sure where this project is at
Summary
- WOWO could be a company making project, remember JRV's run? 400% in a month based on its huge laterite Nickel Project
- The RDS JV underwrites/implies an SP of 9c-10c
- The Argyle Iron Ore Project adds 4c in spec value (8c once I see JV etc)
Total Value I see pre Wowo Gap rerating = 23c
After more confidence in Wowo = 40c+
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Hello Y T
Looks as though we might be in a bit of a run 2morrow if RMI confirms 13 points.
Strong swing formation at about 45% which should test resistant levels @ 16points and 19 points.
Be cautious though if it does hit 19 points as RSI is getting a little overbought.
As long as the fundals hold up i cant see any major long term chart distractions apart from the occassional profit taking.
Cheers
SGB
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prawn_86
Mod: Call me Dendrobranchiata
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well since i first posted on RMI it has more than doubled, and this seems to be confirmed now, rather than when it just touched 12c the other day.
i will be interested to see how the market reacts to the wowo announcement. ie - are these current prices factoring it in? although mine and YT's research suggests not.
im still holding my entire parcel and will reassess after the ann which should be by the end of next week at the latest.
i will be interested to see how the market reacts to the wowo announcement. ie - are these current prices factoring it in? although mine and YT's research suggests not.
im still holding my entire parcel and will reassess after the ann which should be by the end of next week at the latest.
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Nice work Prawn!
You may be interested to note (as I was) that someone has kindly alerted me to the fact that HIG (Highlands Pacific) are looking to sell their remaining 8% interest in Ramu,
This is very significant for RMI as its Wowo and HIG's Ramu are somewhat comparable deposits, thus in a very rough way, whatever price HIG recieves for its 8% interest, we can extrapolate it to RMI's 100% interest in Wowo to get a rough value.
For example, if HIG recieve $25m AUD for their remaining 8% in Ramu, that would value Ramu at $312.5m
Which assuming Ramu and Wowo are perfect comparables (which they are not) would value Wowo at $312.5m, discount by 50% to account for Ramu being superior to Wowo = $155m to Wowo = 35c RMI
These are just rough figures being tossed around to highlight the significance of the price HIG gets for its 8% stake in Ramu,
Watch HIG's anns closely as I believe a good sale price combined with good drill results from Wowo = Significant Re-rating, I don't even want to put a target as right now it would seem absurd
Wowo 120Mt's @1.2%Ni + 0.1%Co = 1.7%Ni Equiv
Ramu 143Mt's @1.01%Ni + 0.1%Co = 1.5%Ni Equiv
It goes without saying that Ramu is far far far more advanced than Wowo and has the backing of a Chinese major and as such production is much more realistic etc etc But its useful to compare
You may be interested to note (as I was) that someone has kindly alerted me to the fact that HIG (Highlands Pacific) are looking to sell their remaining 8% interest in Ramu,
This is very significant for RMI as its Wowo and HIG's Ramu are somewhat comparable deposits, thus in a very rough way, whatever price HIG recieves for its 8% interest, we can extrapolate it to RMI's 100% interest in Wowo to get a rough value.
For example, if HIG recieve $25m AUD for their remaining 8% in Ramu, that would value Ramu at $312.5m
Which assuming Ramu and Wowo are perfect comparables (which they are not) would value Wowo at $312.5m, discount by 50% to account for Ramu being superior to Wowo = $155m to Wowo = 35c RMI
These are just rough figures being tossed around to highlight the significance of the price HIG gets for its 8% stake in Ramu,
Watch HIG's anns closely as I believe a good sale price combined with good drill results from Wowo = Significant Re-rating, I don't even want to put a target as right now it would seem absurd
Wowo 120Mt's @1.2%Ni + 0.1%Co = 1.7%Ni Equiv
Ramu 143Mt's @1.01%Ni + 0.1%Co = 1.5%Ni Equiv
It goes without saying that Ramu is far far far more advanced than Wowo and has the backing of a Chinese major and as such production is much more realistic etc etc But its useful to compare
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There are 550,000 new shares issued.
Can a company do this?
I think issue new shares will make the sp down, doesn't it?
Can a company do this?
I think issue new shares will make the sp down, doesn't it?
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Nickel got battered again (like most metals) last night.
Does anyone have an opinion as to what point this will start weighing heavily on Wowo?
Does anyone have an opinion as to what point this will start weighing heavily on Wowo?
prawn_86
Mod: Call me Dendrobranchiata
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nickel just cant seem to find its feet at the moment. im new to commoditie markets so not sure about supply and demand etc, but i think that with a resource the size of wowo, even at these prices it should create significant interest.
looking at a bit of a longer term view, i suppose it is better the resource upgrade coming out when nickel is lower, and the sp climbing as the nickel price does, once a base price has been established. rather than nickel being at lofty heights as it was earlier in the year and people getting scared and selling out of RMI as nickel fell.
i think this makes sense...does to me anyway
Personally I think stocks or companies at RMI level are still very far from production if at all, so are mostly speculative, therefore I think that day to day commidies prices have a much closer effect on producers. Since if RMI buyers re speculators, or investors looking at least a few years in advance, then perhaps they may even be speculating at what nickel will be in a few years time too.
bye all
bye all
