RTR - Rumble Resources
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RTR closing below 0.40 doesn't augur well, especially just after new drill results.
Sean K
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My watch lists are red. Good excuse for RTR to drop and stay below 39. Short term bad indicator. But, fundamentally, Earaheedy looks like the real deal. Not sure what can go wrong with that turning into a 100Mt@3.5% Zn mine. Long way to go with multiple financing rounds to that stage, but just depends on your horizon and trading/investing plans I guess. I'm still of the mind that they have found their mine and need to focus on fast tracking this while leaving the other stuff to bubble.
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RTR think that there's high potential for an underlying Cu system at Chinook due to this one hole between the many many other holes that didn't have any copper in them. Interesting development. Might need to be a geologist to understand the significance.
Sean K
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They were always going to get these tenements, but confirmation is very good and will certainly be mineralised similar to Chinook on the western edges between the Frere and Yelma formations. The green line west of Chinook should be an extension to that deposit. The sooner the get an initial MRE out on some of this the better though. I don't think they've even laid down a timeline for that. All I can see is that they're going to keep drilling for another 12 months.
greggles
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RTR has been trading sideways for some time, but the 40c level seems to represent reasonably solid support. It would take some bad news for it to be sold off heavily below this level. Given what they already know they have in the ground, and the amount of drilling that will be happening during 2022, RTR looks like a fairly low risk entry at current prices.
greggles
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Some great assay results for RTR announced today. Outstanding widths and grades. Long term, I think RTR is probably a very good play and could easily go to $1 billion market cap once they start generating revenue from their Earaheedy Projects.
As they continue to drill, they reveal more and more high grade mineralisation. No reason why this isn't likely continue IMO.
As they continue to drill, they reveal more and more high grade mineralisation. No reason why this isn't likely continue IMO.
Sean K
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Yes, very good numbers. Not sure why they haven't put more effort into this project. On the surface of it, they're dragging their feet. While they have a stated exploration target, there doesn't seem to be any firm plan for infill drilling and an initial JORC timeline. Maybe because it's over such a large range.
greggles
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From the recent Quarterly Activities/Appendix 5B Cash Flow Report:
That's a lot of assay results to be announced this quarter. More likely to be sooner rather than later too.
That's a lot of assay results to be announced this quarter. More likely to be sooner rather than later too.
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bk1
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Along with every other miner in WA. The backlog must be enormous, i can think of several juniors that have large exploration assays waiting for return of results.
Sean K
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Chart looking more promising at the moment after the last ann gave them a boost. But, it's had four other attempts to change direction that all failed. Maybe this time it's different. Maybe that hammer on 25 Jan was a reversal?
greggles
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Up over 9% today to 52.5c on a very mixed day for the market. I think we've left 40c behind for good. With over 25,000 metres of assay results to report, the market seems to be smelling high grade mineralisation. So much potential here.
Sean K
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Probably saw a bottom, but I just don't trust a company with an ex-West Coast Eagles footballer running the shop.
Definitely potential breakout material, let's see how she finishes.
Sean K
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Some horizontal resistance at 55, but looks pretty good for a bottom and break up from the sideways/down consolidation. But, as already mentioned, the chart has tried this before, so be prepared. Breaking 55 would probably confirm.
They think this Kalitan Feeder Zone is significant.
They think this Kalitan Feeder Zone is significant.
Sean K
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Really did try to break 55c but got a bit scared. Still, looks positive to have stopped the longer term sidewards/slight downward bias. Forming a bit of a flag and volume coming off the past few days looks positive for this set up.
Sean K
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I've been trying to work out how RTR have calculated their 'exploration target' at Chinook of about 100-120Mt@3.5-4.5% and on the dimensions of the mineralisation they keep giving us, this doesn't make sense.
They are claiming it's 4100x1900 but there's a lot of gaps in the drilling. Let's assume it's all mineralised.
The widths of intersections is probably the major problem to estimate. On one cartoon, they say they are 30-50m and on another it's only 5-15m. So, let's pluck an average of 20m.
So, 4100x1900x20x2.5*=420Mts. That's just Chinook.
Something is missing here. I thought they were overestimating with 120Mt...
Perhaps the true strike dimensions from a plan perspective are not actually 4.1x1.9 and much smaller, like a quarter.
*Specific Gravity pluck.
They are claiming it's 4100x1900 but there's a lot of gaps in the drilling. Let's assume it's all mineralised.
The widths of intersections is probably the major problem to estimate. On one cartoon, they say they are 30-50m and on another it's only 5-15m. So, let's pluck an average of 20m.
So, 4100x1900x20x2.5*=420Mts. That's just Chinook.
Something is missing here. I thought they were overestimating with 120Mt...
Perhaps the true strike dimensions from a plan perspective are not actually 4.1x1.9 and much smaller, like a quarter.
*Specific Gravity pluck.
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I saw RTR making a Wykcoff Pattern - although a not very good one. If prices rise next week then last week's low could be the point of last point of support. Wykcoff Theory suggests that if this is correct the stock should have a target of about $1.26 - which seems a bit optimistic to me. Elliott Wave Theory also says price could be rising on Wave 5 which (again if correct) means price should make new highs above $0.80. If price breaks above $0.58 I would be tempted to buy. Interesting stock and chart!
Sean K
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Rumble doing it's regular thing. AGAIN. Can it make a new higher low at some point??
This is one of the most frustrating stocks to watch on the ASX.
This is one of the most frustrating stocks to watch on the ASX.
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One of a group of three (CHN, DEG, RTR) with similar circumstances and potential for further price gains.
All three are sitting on potential tier 1 resource assets that require a lot more exploring and delineation. It's going to take years to fully understand the extent and value of their resource. Another year to plan a cost efficient mining operation and years more to construct a production facility if that's their intent. It's highly likely that one or more will sell their resource before production.
These are not the sort of stocks I want to buy at higher prices. I prefer to buy the dips and profit from future news reports.
RTR: Since news of the size of the Earaheedy resource was released sending price from 0.10 to 0.80, price has been drifting down. Price has reached the 50-62% retracement zone of the impulsive move up and bounced a few times. However none of the bounces have led to further rallies. Could this current bounce turn into another rally and take price back to the old highs?
All three are sitting on potential tier 1 resource assets that require a lot more exploring and delineation. It's going to take years to fully understand the extent and value of their resource. Another year to plan a cost efficient mining operation and years more to construct a production facility if that's their intent. It's highly likely that one or more will sell their resource before production.
These are not the sort of stocks I want to buy at higher prices. I prefer to buy the dips and profit from future news reports.
RTR: Since news of the size of the Earaheedy resource was released sending price from 0.10 to 0.80, price has been drifting down. Price has reached the 50-62% retracement zone of the impulsive move up and bounced a few times. However none of the bounces have led to further rallies. Could this current bounce turn into another rally and take price back to the old highs?
Sean K
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More good results starting to infill the overall deposit. I'd like them to put a time horizon on an initial MRE, they must have some plan.
Nice wide intersection in the Kalitan Feeder Zone, but I can't see any copper in those results which is what I think they were hoping for after hole 360 hit 4m@1.5% Cu, so they'd be disappointed with that. Having significant copper in this deposit would really turn heads.
Good to get a new perspective of the plan view with the grades coloured in on the cartoon. They have been saying it's 4.1km x 1.9km wide but as you can see from the cartoon, they're yet to drill the north eastern section, so they need to get on to that to claim the total strike is as claimed.
Having said that, they can now drill to the SW on the left hand edge once they get drilling approvals sorted. You would have to assume that will be mineralised exactly the same as what they've drilled on that boundary so far.
Nice wide intersection in the Kalitan Feeder Zone, but I can't see any copper in those results which is what I think they were hoping for after hole 360 hit 4m@1.5% Cu, so they'd be disappointed with that. Having significant copper in this deposit would really turn heads.
Good to get a new perspective of the plan view with the grades coloured in on the cartoon. They have been saying it's 4.1km x 1.9km wide but as you can see from the cartoon, they're yet to drill the north eastern section, so they need to get on to that to claim the total strike is as claimed.
Having said that, they can now drill to the SW on the left hand edge once they get drilling approvals sorted. You would have to assume that will be mineralised exactly the same as what they've drilled on that boundary so far.
