RMS - Ramelius Resources
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They haven't updated that figure for a while, you should be able to find it in one of the older presentations (perhaps the investor presentation that coincided with the cap raising around June?), or also in AVO's bidders statements. I also remember a graph plotting how the JORC resource is affected by grade cut-offs in an early presentation, from memory the uncut JORC resource was worked out to be 270Koz.
I like to think of the RMS resource as, 20Koz was actually produced from 13kt of ore, in 140kt of ore it should get up to ~210Koz. Now that the orebody is thought to be wider (2x) than initially modelled, they might end up milling "up to" 280kt of ore, which would equate up to ~420Koz. So there seems to be a lot of potential, exciting times ahead methinks.
I like to think of the RMS resource as, 20Koz was actually produced from 13kt of ore, in 140kt of ore it should get up to ~210Koz. Now that the orebody is thought to be wider (2x) than initially modelled, they might end up milling "up to" 280kt of ore, which would equate up to ~420Koz. So there seems to be a lot of potential, exciting times ahead methinks.
no worries, happy to assist.
Just remember that 38600oz's of that resource estimate is not within the current mine plan and the company atm has no intention of accessing it, is low grade (I think 4-5g/t average), located away (to the east I think) from the current operation, and is poorly defined (ie not many drills have been sunk into that area). IMO it's probably not economic to mine that part of the resource unless the AUD gold price shoots back up to $1500/oz; but then again it may surprise.
According to the last announcement, they expect a revision to their resource estimate in April sometime. IMO, from the numbers that are coming through, could see the 70Koz estimate shoot to 856Koz (my maximum expectation) or perhaps more reasonably to 300Koz (my mean expectation); will be very happy with anything over 300Koz.
The shareprice seems still way undervalued compared to what they're achieving at Wattle Dam
irritating but still allows time to accumulate.
Just remember that 38600oz's of that resource estimate is not within the current mine plan and the company atm has no intention of accessing it, is low grade (I think 4-5g/t average), located away (to the east I think) from the current operation, and is poorly defined (ie not many drills have been sunk into that area). IMO it's probably not economic to mine that part of the resource unless the AUD gold price shoots back up to $1500/oz; but then again it may surprise.
According to the last announcement, they expect a revision to their resource estimate in April sometime. IMO, from the numbers that are coming through, could see the 70Koz estimate shoot to 856Koz (my maximum expectation) or perhaps more reasonably to 300Koz (my mean expectation); will be very happy with anything over 300Koz.
The shareprice seems still way undervalued compared to what they're achieving at Wattle Dam
irritating but still allows time to accumulate.Interesting company after the failed Dioro takeover. They sold their shares at a profit and their cash or near cash I calculate at 25 cps!
Downside is the shortlife of the mine - upside is the history of getting a lot better grades than forecast.
Interested in others views.
Gra
Downside is the shortlife of the mine - upside is the history of getting a lot better grades than forecast.
Interested in others views.
Gra
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Can't say RMS doesn't listen to their shareholders.
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=RMS&timeframe=D&period=W
---------- Forwarded message ----------
From: Nick <>
Date: Sun, May 2, 2010 at 21:25
Subject: Cash
To: iangordon@rameliusresources.com.au, Dom Francese <domfrancese@rameliusresources.com.au>
Dear Ramelius
How about handing out some of the bucketloads of spare cash you have to us shareholders as a dividend?
I mean seriously, you haven't fooled anyone with that little stunt you did trading RMS shares for DIO shares only then to accept $ from AVO for them, effectively diluting the shares in RMS and cashing up the company.
BUT the question is WTF are you doing with all this surplus cash??? Guys, investors don't like this. Give us some of our money please instead of letting it sit around idle doing sweet FA.
Regards,
Nick
Shareholder and Owner
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=RMS&timeframe=D&period=W
---------- Forwarded message ----------
From: Nick <>
Date: Sun, May 2, 2010 at 21:25
Subject: Cash
To: iangordon@rameliusresources.com.au, Dom Francese <domfrancese@rameliusresources.com.au>
Dear Ramelius
How about handing out some of the bucketloads of spare cash you have to us shareholders as a dividend?
I mean seriously, you haven't fooled anyone with that little stunt you did trading RMS shares for DIO shares only then to accept $ from AVO for them, effectively diluting the shares in RMS and cashing up the company.
BUT the question is WTF are you doing with all this surplus cash??? Guys, investors don't like this. Give us some of our money please instead of letting it sit around idle doing sweet FA.
Regards,
Nick
Shareholder and Owner
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Well Nick your prayers were answered hope you didnt sell out.
RMS will pay 5 cps entitlement on 20th August.
Is there anyone following this stock, it was mentioned in fin review today again and like everyone seems to say, has cash in the bank, no debt and amazing grades. Is it their limited resource that is holding back the sp / is there anything else that is happening behind the scenes?
RMS will pay 5 cps entitlement on 20th August.
Is there anyone following this stock, it was mentioned in fin review today again and like everyone seems to say, has cash in the bank, no debt and amazing grades. Is it their limited resource that is holding back the sp / is there anything else that is happening behind the scenes?
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RMS have been busy acquiring or setting up earn-ins on projects and I think a lot of this has slipped under the radar.
The big acquisition was $40M for Mt Magnet ground, they are planning a $5M drilling program to assess beneath the Saturn and Mars pits. They currently have 474k oz Au in reserve and 3.35M oz Au in resources and there is a lot of upside there. In addition the area already has a BFS completed by Harmony.
Other active projects include:
The Mt Windsor project in Qld (min spend $1.25M) where they have an IP (Induced Polarisation) anomaly with rock chip sampling anomalous in Au and Ag, though initial drill testing failed to identify anomalous mineralisation associated with the anomaly. They will be conducting several other IP surveys on their ground in sites of surface anomalism. Green fields exploration targeting gold associated poly-metallic systems.
The Glen Isla JV in NSW (min spend $100k) is targeting epithermal gold. Currently they have an IP anomaly with some historic gold intersections in the area - drilling is imminent. $1M spend to earn 51%.
Nevada USA - The Big Blue project (min spend $250k)has a couple of zones of gold anomalism defined by rock chips that RMS is earning an interest in. One anomaly 2500m x 370m with a max value of 0.57g/t Au and a 610m x 300m anomaly with a max value of 41g/t. RMS is also earning an interest in the green fields Angel Wing project in Nevada targeting epithermal gold (min spend $350k) - very little work completed here to date.
The main show outside Wattle Dam is Mt Magnet, though the other early stage exploration plays have the potential to find significant accumulations. The minimum spend in these green fields JV will also allow RMS to bail on the JV relatively cheaply if early work is negative.
Certainly a good one to watch.
The big acquisition was $40M for Mt Magnet ground, they are planning a $5M drilling program to assess beneath the Saturn and Mars pits. They currently have 474k oz Au in reserve and 3.35M oz Au in resources and there is a lot of upside there. In addition the area already has a BFS completed by Harmony.
Other active projects include:
The Mt Windsor project in Qld (min spend $1.25M) where they have an IP (Induced Polarisation) anomaly with rock chip sampling anomalous in Au and Ag, though initial drill testing failed to identify anomalous mineralisation associated with the anomaly. They will be conducting several other IP surveys on their ground in sites of surface anomalism. Green fields exploration targeting gold associated poly-metallic systems.
The Glen Isla JV in NSW (min spend $100k) is targeting epithermal gold. Currently they have an IP anomaly with some historic gold intersections in the area - drilling is imminent. $1M spend to earn 51%.
Nevada USA - The Big Blue project (min spend $250k)has a couple of zones of gold anomalism defined by rock chips that RMS is earning an interest in. One anomaly 2500m x 370m with a max value of 0.57g/t Au and a 610m x 300m anomaly with a max value of 41g/t. RMS is also earning an interest in the green fields Angel Wing project in Nevada targeting epithermal gold (min spend $350k) - very little work completed here to date.
The main show outside Wattle Dam is Mt Magnet, though the other early stage exploration plays have the potential to find significant accumulations. The minimum spend in these green fields JV will also allow RMS to bail on the JV relatively cheaply if early work is negative.
Certainly a good one to watch.
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RMS is on the move following the share price stagnating somewhat of late, especially with all the near mine to grass roots programs starting up at the moment.
An interesting note from the speeding ticket RMS got today
Another announcement giving an exploration update today confirming drilling programs to commence at Wattle Dam down plunge, 10,000m at Mt Magnet, Mt Windsor, Glen Isla and Nevada.
Will be interesting to see where the next resistance level is.
An interesting note from the speeding ticket RMS got today
Another announcement giving an exploration update today confirming drilling programs to commence at Wattle Dam down plunge, 10,000m at Mt Magnet, Mt Windsor, Glen Isla and Nevada.
Will be interesting to see where the next resistance level is.
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Logique
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Edit: thanks Derty, just found your chart above.
I wonder what the TA minded make of RMS now at .64. At a quick glance I'd have thought it would need to hold above previous resistance>notional new support .55 to be convincing.
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Is this a factual observation:
"RMS is in a strong breakout on large volume, clearly above recent resistance."
The next 4 months of drilling could be very exciting for these guys, I somehow accidentally double bought a parcel 2 weeks ago and gee what a mistake that was : )
"RMS is in a strong breakout on large volume, clearly above recent resistance."
The next 4 months of drilling could be very exciting for these guys, I somehow accidentally double bought a parcel 2 weeks ago and gee what a mistake that was : )
Logique
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.62...you were saying..?
Don't get me wrong, I'm a fan of RMS, and it looks good for them, I'm a buyer at my price.
Don't get me wrong, I'm a fan of RMS, and it looks good for them, I'm a buyer at my price.
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ASX release 6th Sept:
"Results for a further 10 underground diamond holes recently drilled at
Wattle Dam are shown in Table 1 below, with best results of those holes
assayed to date including:
WDUD0157 ‐ 6m @ 5.3 g/t Au (incl. 1m @ 23 g/t Au)
WDUD0163 ‐ 11m @ 4.7 g/t Au
WDUD0152 ‐ 38m @ 3.9g/t Au (incl. 1m @ 68 g/t Au)*
WDUD0119 – 15m @ 4.7 g/t Au*
These holes are extremely encouraging and demonstrate good
continuity of the lode zone.
As is often the case at Wattle Dam, assays do not always reflect the
amount of gold within the zone and several check assays are now
underway using leach well analysis."
potential further upside, good drilling results, not the crazy grades, but their drilling continues. RMS has been running hard, with closing price today of 0.83c. If anyone follows this company, what sort of expectations do you have for the future, I know they are drilling, but this has been a VERY strong run, particularly relative to other gold miners.
I should also note that there was a directors interest change, purchase of 50,000 shares at 64c, 2nd Sept.
"Results for a further 10 underground diamond holes recently drilled at
Wattle Dam are shown in Table 1 below, with best results of those holes
assayed to date including:
WDUD0157 ‐ 6m @ 5.3 g/t Au (incl. 1m @ 23 g/t Au)
WDUD0163 ‐ 11m @ 4.7 g/t Au
WDUD0152 ‐ 38m @ 3.9g/t Au (incl. 1m @ 68 g/t Au)*
WDUD0119 – 15m @ 4.7 g/t Au*
These holes are extremely encouraging and demonstrate good
continuity of the lode zone.
As is often the case at Wattle Dam, assays do not always reflect the
amount of gold within the zone and several check assays are now
underway using leach well analysis."
potential further upside, good drilling results, not the crazy grades, but their drilling continues. RMS has been running hard, with closing price today of 0.83c. If anyone follows this company, what sort of expectations do you have for the future, I know they are drilling, but this has been a VERY strong run, particularly relative to other gold miners.
I should also note that there was a directors interest change, purchase of 50,000 shares at 64c, 2nd Sept.
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Logique
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I admit that I was wrong here, RMS powered on, should have jumped in at the time. But no complaints, I've done well with the goldies I have.
I agree with the TA analysis by Noie.
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Hi everyone,
I sold some of my RMS stock in the past week as it seems they may spend a little time consolidating - perhaps the run lately from 60c to 85c was enough for now, however your posts forced me to go back and have a look at the underlying theme with RMS.
They show a good resource base, new developments coming along, a lot of drilling still to come, and no debt - plus current production.
I know they have had a good run, but I'm excited about them all over again, these are the qualities which silver lake has and they have now pushed a long way up.
this isn't intended to be a spruik, but I encourage you to have a look at the fundamentals and see for yourselves. A question that should be asked, is when gold price takes a break, will there be a lot of panic selling after this euphoria we have seen?
rhys, this may be the entry you wait for.
Good luck, I will be watching closely!
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Ramelius has been moving up well, albeit with some volatility, we have seen up to a 10c variation per day, so that can hurt those with stops on; not to mention the extra psychological pressure.
see attached chart for an update. Since last post there was some drilling results:
ann /
and before that
and after all that, to bewilderment, a dividend cheque in the mail after a 40% gain...
As far as opinions go, work yourself out, but the volume has dried up significantly.
The grades they are managing to come up with (Ok, in concentration only) in their ground are quite remarkable. Good luck holders buyers and readers.
see attached chart for an update. Since last post there was some drilling results:
ann /
and before that
and after all that, to bewilderment, a dividend cheque in the mail after a 40% gain...
which I, in my obviously lazy state did not even know about.
As far as opinions go, work yourself out, but the volume has dried up significantly.
The grades they are managing to come up with (Ok, in concentration only) in their ground are quite remarkable. Good luck holders buyers and readers.
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further drilling results have been posted with some further assays yet to be reported.
fantastic grades at intersections, they have struck out in majority of holes, but it seems that RMS' Wattle Dam has this characteristic of high concentration zones (or "nuggety" in their terms).
fantastic grades at intersections, they have struck out in majority of holes, but it seems that RMS' Wattle Dam has this characteristic of high concentration zones (or "nuggety" in their terms).
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Normally I stay away from 'price takers' such as miners...but this one has caught my eye.
Ive been looking for exposure to gold for a while, I'm not ready for futures contracts yet, and I believe this may be my best option.
Based on Ramelius hitting NPAT of $60m this year, I see this one as still substantially undervalued despite the huge run its already had.
With a massive discount to what I think its worth, this allows me to absorb a larger drop in the gold price before I would conisder RMS to be expensive.
Bright future for at least the next 6 years with the new mine...assuming all goes well (which you never can!)
Ive been looking for exposure to gold for a while, I'm not ready for futures contracts yet, and I believe this may be my best option.
Based on Ramelius hitting NPAT of $60m this year, I see this one as still substantially undervalued despite the huge run its already had.
With a massive discount to what I think its worth, this allows me to absorb a larger drop in the gold price before I would conisder RMS to be expensive.
Bright future for at least the next 6 years with the new mine...assuming all goes well (which you never can!)
