RSN - Renison Consolidated Mines

[silent knight]

Re: RSN

Lots of things "blow". Somethings that blow are good, like whales and oil wells. Others such as cows and poor information require caution.
For example the post above talks of accumulated losses as though these had to be repaid before a profit will be made. This is not right. At 30th June RSN had total liabilities of $6M and total assets of $16M giving a net asset situation of $10M. Over the past years RSN has spent (accumulated losses) $24M but has raised $34M giving a Total Equity, as you would expect, equal to the Net Assets of $10M. The $24M that is referred to is money that has been spent and paid for. Its relevance is now only positive in that the company has an unbooked future income tax benefit of $7.5M (see note 4 to Annual report)

 

[PennyHopeful]

Re: RSN

For the sake of my portfolio i hope you are right kaiserbun. I got in relatively early on this stock. Just hope it gains momentum again in the next few months with some positive announcements and the issuing of additional shares for capital raising can be avoided. Fingers crossed!

 

[KaiserBun]

Re: RSN

For the sake of my portfolio i hope you are right kaiserbun. I got in relatively early on this stock. Just hope it gains momentum again in the next few months with some positive announcements and the issuing of additional shares for capital raising can be avoided. Fingers crossed!

I hope i am right too! Unfort i got my stock in the mid teens so only aroun a 50% return so far (paper of course).

I was dancing around when it hit 28 cents a while back.

Although that said, disappointed with todays result, but looking mid to long term. If gold can hold onto its current level, more interest will come into stock when its starts production.

 

[silent knight]

Re: RSN

If you are following on a day to day basis, you would like today's announcement. However I believe the real money to be made out of this company will be at the change to producer or even in the very long term when it also becomes a coal producer. Now is a period of consolidation where sometimes someone will need to sell out a bundle for lots of reasons (having made a nice profit) and the price will drop, while others will be quietly gathering stock but know they can get the stock they want, at the present price. I don't expect much price fluctuation for some time.

 

[PennyHopeful]

Re: RSN

in the tradition of many of the comments in the media re the issues in cronulla i will avoid the hard hitting issues and say.... "go rsn go"...

 

[KaiserBun]

Re: RSN

I love this company so much.....
Drilling commenced at both coal finds.
Studies to be done next year (late to early 2007)
Gold mine coming online in March.
Possibly another one in 2007

Once they start getting these finds into production, prospecting time again!

 

[KaiserBun]

Re: RSN

Ahh, up 1.5 cents on Tuesday, up 2 cents today, now trading at 27.5 cents, do we have any takers for a rise of 2.5 cents to make it 30 cents????

 

[silent knight]

Re: RSN

Done!

 

[KaiserBun]

Re: RSN

Done!

4th-January-2006 08:29 PM
KaiserBun Ahh, up 1.5 cents on Tuesday, up 2 cents today, now trading at 27.5 cents, do we have any takers for a rise of 2.5 cents to make it 30 cents????

It took too long

With massive volume increase and a jump from around 22 cents to 31 cents within a week, could there be a report from one of the sites that is about to be released?

I think it is too early for the increase in price due to increase in gold price. March is a long time off for Tom Gully.

 

[Odduna]

Re: RSN

I can't believe this stock is moving.

 

[KaiserBun]

Re: RSN

Another 1 cent rise today to 32 cents per share and a response to the ASX speeding ticket.

I wonder how high it will go once they make announcments (if they are good ones)

 

[KaiserBun]

Re: RSN

Results of first 18 holes of the 140 hole drill program announced today for their Agate Creek project.

Company has indicated that probable reserves to be increased by end of drill program.

Can this company do any wrong??

 

[Odduna]

Re: RSN

I read the announcement by the company and only see that it was a poor drill result.

they have given an excuse of bad drill reports by saying they didnt have right drill equipment.

the hype on this stock will die down and it will go back to its true position.... liquidation

 

[silent knight]

Re: RSN

It is amazing that people reading reports often find a new report supports what they believed before. (Of course it helps if they know very little about the company) I must admit I found RSN's report on Agate Creek encouraging, but then I am happy with my investment in RSN.
I would normally be a little surprised that the price has moved upwards so quickly but not in the present context where goldbugs are raging bulls. (a mixed metaphor, I know). When you look at the money being spent on gold explorers who have not reached feasibility level, then the price of RSN which will start producing gold in March from their Tom's Gully mine is understandable.

 

[Odduna]

Ahhh wont be long before shareholders in rsn will be doing this

 

[silent knight]

Maybe, but possibly not for the reason implied. :

http://www.321gold.com/editorials/gerbino/gerbino012306.html

 

[KaiserBun]

Maybe, but possibly not for the reason implied. :

http://www.321gold.com/editorials/gerbino/gerbino012306.html

Thanks for link to the article.

Hopefully more people will realise how good this company is... although, as an 'insider' (using article terminology) i would prefer to see it at the $2+ mark than the 30 cent mark before i sell

Do you think RSN will slowly sell its stake in RSN (as per January 2005 news articles - yes i know a year old) to pay for the future mines at Agate and Ashford?

PS Yes, i am expecting Agate to get the all clear.

 

[silent knight]

I don't know the article you refer to. If you have a reference I would appreciate it.
I look on RSN as a long term investment provided they keep developing resources. There are a lot of shares in the company (315M cf IGO which has 110M) and this may keep a lid on the price. Of course $2 would be nice, but if I had $2 at present there are shares of more value that I would be spending it on. Still I feel the resources boom will last for a goodly while yet, so there is always hope.
I don't know how they expect to pay for the development of the new mines, whether from cash flow from the Tom's Gully mine, in some creative way such as with Tom's Gully or from further shares. Personally I prefer there not be purther shares but the money has to be raised some how.
The psychology of excitement at different times during a company's development that was referred to in the article I listed, was today shown to me by AOE. Its price has been dropping for two months even though the startup of gas delivery was imminent. Even with the announcement of gas into the pipelines, the reaction has been muted.

 

[Odduna]

A little song for RSN shareholders.....

I'm on my way from happiness to misery today
I'm on my way from happiness to misery today
I'm on my way to what I don't want from this world
And years from now i'll wonder how to make it to the next world
And everything has been cause by this big blunder
Its all because iof this friken miner.....

I took a wrong, I took a wrong turn yesterday
I took a wrong, I took a wrong turn yesterday (yeah yeah yeah yeah)
I took the road that brought me to this stock code
I took the bus to streets that I could walk down
I walk the streets to find the money from some punters.....

And now that I don't want to start again
I'd have Al Jolson sing "I'm starting from the beginning again"

I'll do my best, I'll do my best to do the best I can
I'll do my best, I'll do my best to do the best I can
To keep my feet from jumping from the cliff here
To keep my heart from jumping through my mouth dear
To keep the past, the past and not the present
To try and learn when you (RSN) teach me a lesson

And now that I don't want to start again
I'd have Al Jolson sing "I'm starting from the beginning again".

Sung to The Proclaimers - I'm On My Way

Keep on blowing RSN

 

[silent knight]

I will tremble in my boots. I will lie awake in nervous panic. Never have I seen an equity so comprehensively and thoroughly dissected in a post! And to think that I have some RSN. Oh woe is me!