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RSG - Resolute Mining

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Man..I hope they dont fall through that $1.30 mark

I bet it does...then maybe bounce off the $1.24 mark.

If Kennas were here.....he would confirm or deny my noobism. LOL

I think i might be right in saying that looking at the history of the MACD..it might have a little bit of negative territory to go.
Gimmi some sort of ann like March 06..or whatever it was that created that jump.

*Twas probably what SMM now have*
 
Yes this is disappointing. I refused to bail out on the two red days in a row as I was reading recommendations on this stock and thought - yeah - it's got a way to go yet. I should have read the candles and ignored everyone else. Poo@!
 
Well lets see how much this minor ann brings things up.

It would be nice to se it close in the green tomorrow...but who knows with it being Easter.
 
Could this be the turn around for RSG???

Starting to head for the positive territory.
Over 1Mil in volume today.
 
Any ideas on where this stock is heading now?

Volume up over 2Mil today.
Im trying to decide if I should hang on and not take a loss...or pull out and invest more in say ERN

Still looks to be heading towards the positive territory, though the Mali gold mine isn't due to be roughly finished by late 2008.
 
Being a high cost mine, this company has a relatively low mkt cap, so if the gold price goes through the roof as many predict the leverage could be significant.

But I believe that the company still has much to prove with the Australian and new Mali mines, before it is taken seriously!!
 
Go Nuke, did you think you were talking to yourself for a while there? Not much action on this thread!
 
Gee this has had quite a good run lately!

I dont know of any news forthcoming, but you would have to think someone does!

Nice FAT buy order of just under 1Mil at $1.51 sitting there.
New I should have bought when it bounced off $1.30 again!

Nah, its all good.
Im still sitting on a loss till it gets back up to $1.70ish.
 
I realise Im probably talking to myself here, but could anyone give me their thoughts on the technical side of this chart please?

Could the close on Friday be interpreted as a hammer? Its almost a hammer formation.
RSG has had quite a run lately on good volume but with no announcement.
Perhaps something is comming, im not sure.
If Im correct my 10day MA has crossed above the 100MDA, so im a little confused. This looks to be a good signal right?

Im still trying to learn a little more about the technical side of charts thats all.

Any help appriciated
Thx
GN
 

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The lack of input here does seem mysterious, do you guys know something??

Anyway, Go Nuke, out of sheer pity for your loneliness I’m offering my less-than-expert input FWIW:
I like the big picture chart & the huge base from 2000.
It’s been accumulating above & below $1.50 for about 12 months, not dissimilar to the gold price, a bit weaker.
Seems to have found a bottom at $1.30. Some good volume coming in this past month.
Bounced nicely off $1.50 today with good volume at 11am & finished on high for the day.
So while it’s not setting the world alight it looks like it’s accumulating nicely, hanging in there waiting for gold to break out.
It would be nice to see it get support now at $1.50. I’ve a very small position & I’ll probably stop just below there.
If it can take out $1.65 then it’s probably a hop skip & jump to $2.00.

It looks like a decent PM company with producing mines, cash flow & genuine prospects.
If gold really is in the third wave this will take off, like everything else. If we’ve still to get the beat down into October then everything’s going to suffer.
Decide how much downside you can afford.

Cheers.
 
Been some time between posts here guys .... anyone still out there.

This stock has a MC of just under 350m.

This time next year it will have 3 producing mines; Ravenswood, Golden pride and Syama, and set to produce 500,000 ozpa.

Syama is set to deliver 250,000 ozpa at a cost of 400USD. This alone should result in USD60m+ pretax profit at a conservative gold price of 650USD.

There is also the upside of Mt Wright ore being processed at Ravenswood.

Hopefully increased recoveries from Ravenswood and a new mining contractor at GP in Tanzania.

It is currently a very much unloved stock, for reasons well known, but with a high leverage to rising gold prices (minimal hedging past this FY) and new production coming online I am having trouble seeing any direction but up for the SP of this stock.

Would be interested to hear anyone else's thoughts.
 
Have watched this stock for 12 months or so now due to its share price being sensative to the gold price. There is some sovereign risk with the SA holdings but they have the goods and have the hedged position now down to 20%

Support seems to have established at about 1.70. Would be pleased to hear from anyone who has any idea of the company mangement/ie.past behaviour
 
Hit pretty hard today, wonder whats happening. Just POG that is the problem or something else. Interesting to see if it goes back to 2$
 
Flying Fish said:
Hit pretty hard today, wonder whats happening. Just POG that is the problem or something else. Interesting to see if it goes back to 2$
Click to expand...

Looking good today, volume up on a nice rise. This stock always swings a good spread with the gold price.

A break above $1.90 would make the next target $2.00 If we get a firmer gold price in the next week we should achieve that.
 
Gee....Wizz, .......I thought the timing on this announcement was poor.
Would have been more effective on a day when the sentiment was more positive.
 
Wow,

This one has run really hard since late last year, 1.60'ish would have been a great entry. Don't know an awful lot about this company as yet, but the words "Mali" and "Syama" have immediately aroused my interest a bit here

jman
 
Looking to initiate a bit of discussion here,

And also gauge the market sentiment towards RSG, are holders happy/disgruntled with progress so far?

Certainly their resource base of around 11M oz taken in isolation appears very impressive. Reasonably robust capital structure with approx 299M shares on issue, and around $42.5M cash in the bank, largely obtained through a $50M Rights Issue in Nov 07. Cash costs per ounce in 07 of $635, and a realised selling price of $685/oz. Look to this improve this year with a gradual unwinding of hedging between 2008-10, and streamlining of underground mining and production at Ravenswood.

Their production and development sounds like hasn't been without it's hiccups though. Syama in Mali sounds like it has been a bit of a cash burner to bring online, capex currently over-cost by about US$10M for an overall capes of US$151M (including a new power station).

Redevelopment at Syama is apparently US$10M in excess of RSG's current cash and bullion reserves, but management are supposedly putting a place a A$60M credit facility over the next few weeks. BHP and another group tried unsuccessfully to make Syama viable, albeit at a much lower prevailing gold price in the 90's. The ore sounds like it is hard, and mostly refractory (Au is locked-up in a lattice of sulfides), hence the redevelopment of the roasting circuit. They should have been mining Syama open pit for a couple of months now.

Expect head grades at Golden Pride in Tanzania to fall later this year, as high-grade ore stockpiles are gradually used up. I'd also be keeping an eye on cash costs per/oz at Ravenswood in 08, for which RSG have given a whole variety of reasons.

Some great potential here imo, provided they can keep capex at Syama under control and sort out their op's in QLD. Got king-hit in trading today, losing around 8.5%, anyone aware of any substansial re-evaluation that may have taken place?...or a drop in POG overnight?

Cheers as always
jman
 
Hi jman

Recently sold out of RSG only for one reason, had an excellent run and felt it would end. I was right...for a change.

I believe the costs at syama will reduce overall cash cost average for the company.

As you would be aware they have a large inventory.

Can't see any real downside going forward.

Planned to buy back in but was sidetracked but may watch for the POG to have a correction (if indeed it has one) then re-enter.

So in summary have no disgruntles with RSG .
 

Well done for picking the peak Spaghetti,

I will also be watching this to look for any suitable entry point over the coming months, but watchlisted this for now.

You might need to qualify your statement for me re the capex for Syama, do you mean that you think the overall capex will reduce costs across the board for RSG, despite Syama going over budget?

Cheers
jman
 
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