RTM - Reefton Mining

[el_ninj0]

Re: RTM

I think most are holding at the moment, awaiting more news. A few buyers at 7.5cps, Im doubtful it will get down to there though. on 8.2cps currently.

 

[tarnor]

Re: RTM

RTM asx announcement for response to newspaper article was the rumour. assay results ment to be released soon, maybe thier just going to hold off a day or two, some good results would be the best rebuttal.

You'd think they would want to wait till leases are fully processed before releasing assays, an aftermarket ann would be bad :/

and thats the last time i make any public intraday price predictions

 

[tarnor]

Re: RTM

the saga continue.... it seems the two sources for the defamatory article in a namibian paper were totally misqouted the freelance journalist is also currently facing charges on bribing a police officer..

A poster on ss emailed the two geolisgists referenced and these were the responses.

Dear John

I am not a Reefton employee nor a consultant acting on Reefton's behalf. To
ascertain whether Reefton has made a discovery of a commercially viable
uranium deposit, I suggest that you contact Reefton directly to obtain,
inter alia: geological plans & cross-sections, a drill hole plan, summary of
drill hole assays, a JORC-compliant resource statement & reserve statement
and a Competent Persons Report.

I am not a uranium specialist/expert nor have I ever claimed to be. My Ph.D.
thesis was on gold, tungsten & tin mineralisation to the east of Hakskeen.
You can obtain a copy of my thesis (which has nothing to do with uranium),
which was published as Memoir #16 of the Geological Survey of Namibia, from
the Survey in Windhoek.

Sincerely

Nick Steven

and the other specialist

Dear John,

I am afraid that I have been mis-attributed in this article. The reporter
phoned me, but I did not have any direct information regarding the Hakskeen
deposit.
He told me that the radiometric anomaly was reportedly related to thorium. I
then told him that if that was the case, then the anomaly could not be
related to carnotite in calcrete/gypcrete as carnotite does not contain
thorium. I then explained to him the nature of thorium anomalies - that
section is correctly attributed to me.
I told him that I visit the Rossing area (not Hakskeen area) on an annual
basis to show my students the difference between real and false uranium
anomalies.
All the references attributed to me regarding the nature of the Hakskeen
deposit and aerial anomalies are incorrect as I had no knowledge of the
geology of the area.

I therefore cannot help you in this regard and suggest that you contact Dr
Steven.

Regards
John Moore

courtesy of gods_broker SS

 

[tarnor]

Re: RTM

thiers more, reefton calls for a retraction i must have been wrong about an asx ann responding to the article, they will probably just release results by the sound of it.

Wednesday, April 13, 2005
EMBATTLED uranium explorer Reefton Mining has asked for a retraction from a Namibian newspaper that published a report casting serious doubt on the potential for uranium at the company's Erongo project in Namibia.

In a story recently published in the Namibian national newspaper, Professor John Moore of the Rhodes University Geology Department was quoted as saying he would be very surprised if Hakskeen, within Erongo, contained "real and viable" quantities of uranium.

However Reefton chief executive officer Simon Gilbert told MiningNews.net he had contacted Professor Moore regarding the story and was advised by Moore that he was quoted out of context. Gilbert said Moore had emailed this statement regarding quotes attributed to him in the story.

"I am afraid I have been miss-attributed in this article," Moore has told Gilbert.

"The reporter phoned me but I did not have any direct information regarding the Hakskeen deposit. He told me that the radiometric anomaly was reportedly related to thorium. I then told him that if that was the case then the anomaly could not be related to carnotite, as carnotite does not contain thorium.

"I then explained to him the nature of thorium anomalies and that section is correctly attributed to me. I told him that I visit the Rossing area (not Hakskeen area) on an annual basis, to show my students the difference between real and false anomalies.

All the references attributed to me regarding the nature of the Hakskeen deposit and area anomalies are incorrect, I have no knowledge of the geology of the area. I referred the reporter to Professor Jacobs and Dr Nick Stevens. It is possible he has confused statements coming from Dr Nick Stevens as coming from me."

Dr Nick Stevens, a Cape Town-based geologist who wrote his doctorate on the geology of the Hakskeen region, was also quoted in the story as saying he was very sceptical about Reefton's announcement of a new uranium discovery on March 18.

Stevens claimed the geology of the granite-based deposit is distinctly different to other known uranium deposits in the region including the ASX-listed Paladin Resource's Langer Heinrich deposit.

"It is what we call monozite, a rare earth phosphate normally associated with heavy beach sands but one that also can give off a radioactive signal," Stevens said.

Gilbert said Reefton were also awaiting a response from Dr Stevens regarding his comments to the newspaper.

"We are waiting on a response from Stevens as well which will hopefully come through today and then I would think the company would be in a position to form a response to that.

"We actually want the paper to write, essentially a retraction article because they have mislead the public in a big way. You could potentially say that article has stripped 20% off the value of the company because since that has come out we have dropped from 10c down to 8c," Gilbert said.

Meantime the company is still awaiting resolution regarding the renewal applications for exploration licences at Erongo.

Shares in Reefton today were up almost 4% this morning to 8.1c.

interesting stuff i think thier is plenty of upside here personally i continue to hold..

 

[doctorj]

Re: RTM

Someone from another forum has personally contacted the Professors mentioned in the original article and received the following responses

Dear John,

I am afraid that I have been mis-attributed in this article. The reporter
phoned me, but I did not have any direct information regarding the Hakskeen
deposit.
He told me that the radiometric anomaly was reportedly related to thorium. I
then told him that if that was the case, then the anomaly could not be
related to carnotite in calcrete/gypcrete as carnotite does not contain
thorium. I then explained to him the nature of thorium anomalies - that
section is correctly attributed to me.
I told him that I visit the Rossing area (not Hakskeen area) on an annual
basis to show my students the difference between real and false uranium
anomalies.
All the references attributed to me regarding the nature of the Hakskeen
deposit and aerial anomalies are incorrect as I had no knowledge of the
geology of the area.

I therefore cannot help you in this regard and suggest that you contact Dr
Steven.

Regards
John Moore

And this one from Dr Nick (no Simpsons references, please)

Dear John

I am not a Reefton employee nor a consultant acting on Reefton's behalf. To
ascertain whether Reefton has made a discovery of a commercially viable
uranium deposit, I suggest that you contact Reefton directly to obtain,
inter alia: geological plans & cross-sections, a drill hole plan, summary of
drill hole assays, a JORC-compliant resource statement & reserve statement
and a Competent Persons Report.

I am not a uranium specialist/expert nor have I ever claimed to be. My Ph.D.
thesis was on gold, tungsten & tin mineralisation to the east of Hakskeen.
You can obtain a copy of my thesis (which has nothing to do with uranium),
which was published as Memoir #16 of the Geological Survey of Namibia, from
the Survey in Windhoek.

Sincerely

Nick Steven

 

[el_ninj0]

Re: RTM

Looks like theyve lost their CEO. Dont know what affect that might have on the share price. Any speculation?

 

[el_ninj0]

Re: RTM

Renewed interest in this stock today and yesterday. Any ideas as to why?, i havn't seen any news or announcements on this stock.

 

[el_ninj0]

Re: RTM

Renewed interest in this stock today and yesterday. Any ideas as to why?, i havn't seen any news or announcements on this stock.

again?

 

[Kauri]

Re: RTM

ASIC raids Reefton HQ

http://thewest.com.au/20050914/business/tw-business-home-sto132232.html

 

[tarnor]

Re: RTM

Lost a bit of play money on this dog really was a bad story in the end.. Hope these guys go down someone on another board lost 100k :/

 

[krisbarry]

Re: RTM

I was considering this company about 6 months ago for a buy and hold, glad I didn't. A big ouch to all investors!

Sometimes in the midst of all this bad news, companies like this make good buying ops. for the risk takers.

 

[raider]

Re: RTM

What I can't understand how people can be so stupid to still buy into this
stock, it dropped to 0.29 cents and has actually gone up a bit. Here is
a company that is raided by the police on suspicion of insider trading and
god knows what else and some people still think they are a good bet,might
as well put the money on the horses.

 

[tarnor]

Re: RTM

uk rtm shares will be on the asx soon which will mean even more dumping. crazy to buy now

 

[el_ninj0]

Re: RTM

uk rtm shares will be on the asx soon which will mean even more dumping. crazy to buy now

Wow, this one is done for in my opinion now. I had speculated myself if they had been trading on inside information after the research in Namibia wasn't allowed to continue, but this pretty much confirms it. Glad I wasn't holding any.

 

[Epsilon]

Re: RTM

Just a hypothetical "IF".......a big "IF"........
A far fetched scenario the following? Perhaps....BUT......Please read.......
The Namimbian Government (Ministry of Mines) has taken awfully long time to reply (and justify) re: The refusal of the Honorable Minister of Mines in Windhoek to grant exploration Rights for Nuclear Fuels (Uranium) to Reefton.....Thus far nothing has been heard. Not a word. Why?
Would it be -perhaps- that they (The Namimbian Ministry of Mines) have investigated everything and everybody in order to find and cite a Legally tangible reason for their refusal to grant the Exploration licence?
Why am I say that? Simple. The Namimbian Government -unlike many other African Governments- is very pro Businnes and very Highly regarded in Western Investment Circles. It could not just authoritatively and without a very good (legally that is) reason refuse such a Licence to a Foreign Company which has invested capital in their Country.
So.......Here comes the big "IF".......What "IF" the ASIC was asked by the Namimbian Authorities (I know...I know......Too far-fetched a scenario..) to investigate "certain" individuals and the Company which they may suspect (or....Or have, (were) been told by"others" .....Interested in RTM's Uranium Rights...) of having committed illegal transactions (insider trading?) in conjunction with their exploration activities in Namimbia?
This would have been the only legally good enough reason for the Namimbian Authorities (and perhaps others, "Third Parties" who know what Reefton's Leases contain...), since, as stated earlier, they have thus far, failed to find other reasons that Legally can justify their "NO" to RTM's application for a Nuclear Fuel Licence Exploration......We must remember Windhoek's thus far excellent Standing in the International Business (and Political) Community.....

Tantalisingly too far-fetched a scenario? Yes, more than likely. BUT......It still remains a scenario....
Hopefully we will we hear news (soon) from the ASIC investigation. If (as the Company believes) the individuals and Reefton are cleared of any illegal transactions etc, Reefton, whether my scenario holds any water or not, will be well on its way to a better future.......

In the mean time...Cheers).......We can only hope...Can we not?

 

[tarnor]

Re: RTM

haha thats a great scenario only one problem i can see with it is it might tempt someone into buying rtm if asic can't get any dirt. Which is likely to end in more heart ache


I was under the impression that RTM breached the mme guidelines they wouldn't need any legal angle other then that to exclude them safely.

Another thing that i vagueally remember someone saying was that Niko - the director that looted rtm when it spiked by dumping his shares and resigning - had been involved in another company that the mme had refused a license. Please don't take that as fact but i assume the mme may hold niko in disdain and were pissed when they saw him pump the uranium story then piss off with the plunder. For rtm nuclear aspirations to be reignited maybe they need to completely ditch all thier previous management , I think moore's the only one left?? Maybe a name change and to build a fresh relationship with the mme. I learnt heaps from this trade, and the stories not over!! exciting stuff

 

[Epsilon]

Re: RTM

Tarnor......For a "Newbie" you are indeed exhibiting an admirably profound knowledge of all things RTM))
Methinks, we know each other from "other" forums....
Now, back to the fascinatingly interesting Reeftonite (Uranium ores are, mostly, ending in -nite...) story. You are probably right in one thing.
The previous management of RTM are not exactly the type of angels St. Peters would have invited around for a Sunday lunch.......BUT Bradley Moore seems to be doing a good job -against many adversities-. I have only spoken to him 2-3 times on the phone in relation to extracting more info (to no avail...).
I think (and of-course I hope) this is the last serious obstacle RTM is faced with....From now on (if thinks are going to get the ASIC ALL CLEAR that is) there is only one way......NORTH!!!!!!! And to be more Geographically precise....North-West!!!!!!!!!!!!!!!
Cheers and all the best my friend...Whoever you are)))

 

[tarnor]

Re: RTM

well as you can see by my photo i'm the one who likes to play around in S@!#, but i got flushed with rtm

I wonder how many traders will run back to rtm if it does turn the corner, could be a huge run :/

did you see this? remember rtm's area rich in worthless thorium..

New Delhi, Aug 25 05: India today unveiled before the international community its revolutionary design of a Thorium Breeder Reactor (ATBR) that can produce 600 MW of electricity for two years "with no refuelling and practically no control manoeuvres."


Designed by scientists of Mumbai-based Bhabha Atomic Research Centre (BARC), ATBR is claimed to be far more economical and safer than any power reactor in the world. Most significantly for India, ATBR does not require natural or enriched uranium, which the country is finding difficult to import.


It uses thorium -- which India has in plenty -- and only requires plutonium as "seed" to ignite the reactor core initially.


Eventually, ATBR can be running entirely with thorium and fissile uranium-233 bred inside the reactor (or obtained externally by converting fertile thorium into fissile Uranium-233 by neutron bombardment).


BARC scientists V Jagannathan and Usha Pal revealed the ATBR design in their paper presented today at the week-long "International conference on emerging nuclear energy systems" in Brussels.


The design has been in the making for over seven years. According to the scientists, the ATBR, while annually consuming 880 kg of plutonium for energy production from "seed" rods, converts 1,100 kg of thorium into fissionable uranium-233. "This differential gain in fissile formation makes ATBR a kind of thorium breeder," they said. (Agencies)

Published: Thursday, August 25, 2005

could be worth throwing a couple of a k in if it gets to 2c..

 

[Epsilon]

Re: RTM

Yes, Thorium is not exactly as "useless" as many have thought.....
However, thus far not much advanced testing involving Thorium has taken place
since it has always believed that Uranium 235 (235U) is by far more fissionable, along with Plutonium 239 (239Pu), and 238U (Uranium 238) is the most fertile natural Radinuclide one.....
India indeed has taken the lead in Thorium fissioning and using it as Nuclear Reactor fuel....
Wait and see......

PS....I doubt that RTM any lower. If anything, when the "All Clear" is given, by ASIC, expect a sudden and substantial upward movement.......

 

[Epsilon]

Re: RTM

***********************Correction********************
In my previous post, where I wrote:
"India indeed has taken the lead in Thorium fissioning and using it as Nuclear Reactor fuel...." it should read: "India indeed has taken the lead in the Thorium-Uranium Cycle fissionining.........", for, Thorium232 which is found in nature (like Uranium238, and some Uranium235) and is four times more abuntant than Uranium IS NOT FISSILE.
Thorium232 is Fertile (like Uranium238) and after capturing a neutron this fertile Thorium nucleus and after undergoing two Beta Decays, this Thorium232 Isotope becomes Uranium233 WHICH IS Fissile and CAN produce energy through sustaining a chain reaction in a Nuclear Reactor.
It must be added here that the ONLY FISSILE nucleus found in nature is Uranium235 (U235). All others including Plutonium239 are the products of Fertile Nuclei which after absorbing neutrons give birth to fissile (fissionable, splitable, able to be split and produce energy by sustaining a chain reaction) nuclei....

Cheers)))) To a great and profitably enjoyable day ahead of us.......!!!!!!!!!!!!!