RVR - Red River Resources
- Thread starter YOUNG_TRADER
- Start date
-
- Tags
- red river resources rvr
greggles
I'll be back!
- Joined
- 28 July 2004
- Posts
- 4,460
- Reactions
- 4,494
This morning Red River Resources announced record operating performance from its Thalanga Operations in Northern Queensland during the March quarter.
Looks like the bottom may be in for RVR at 14.5c?
Looks like the bottom may be in for RVR at 14.5c?
greggles
I'll be back!
- Joined
- 28 July 2004
- Posts
- 4,460
- Reactions
- 4,494
RVR continuing to make ground following the release of its March 2019 Quarterly Activities and Cash Flow Report last week.
It looks like mostly good news with a healthy increase in cash balance and record mine production and mill throughput.
RVR up 2.4% to 21c so far today, getting its head above resistance at 20c.
It looks like mostly good news with a healthy increase in cash balance and record mine production and mill throughput.
RVR up 2.4% to 21c so far today, getting its head above resistance at 20c.
Taking a punt for March's competition.
Their production numbers for January were good, expecting a little bump in February barring unknown unknowns. These guys are typically exposed to the wet/rainy season in FNQ where I'm based but even though rainfall has been very good(everything is super bright green) it's not been all at once so hopefully not too many off days as far as production goes.
To top it off the share price has copped a beating because of December's production and a large holder is dumping their position at any price. 25m ish of shares to go so there will be a big dip at the start of the month I think while they exit and fingers crossed a recovery towards the end.
Their production numbers for January were good, expecting a little bump in February barring unknown unknowns. These guys are typically exposed to the wet/rainy season in FNQ where I'm based but even though rainfall has been very good(everything is super bright green) it's not been all at once so hopefully not too many off days as far as production goes.
To top it off the share price has copped a beating because of December's production and a large holder is dumping their position at any price. 25m ish of shares to go so there will be a big dip at the start of the month I think while they exit and fingers crossed a recovery towards the end.
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,069
Can see why you'd choose this for a March pick, what with the already damaged s.p and turning more to gold in its mining plans.
Wonder if Tribeca has some privileged company specific view as a reason for dumping RVR or it is more implementing some mechanical rule for divesting. Alert point to make that there could be still 25m-ish shares to unload in March if Tribeca is going to fully divest.
Tribeca has an asx listed LIC, code: TGF and it's not going well at all chart wise
I hold a few RVR, foolishly bought @ 20c after reading some h.c chat
Tribeca (TGF) all data weekly
Wonder if Tribeca has some privileged company specific view as a reason for dumping RVR or it is more implementing some mechanical rule for divesting. Alert point to make that there could be still 25m-ish shares to unload in March if Tribeca is going to fully divest.
Tribeca has an asx listed LIC, code: TGF and it's not going well at all chart wise
I hold a few RVR, foolishly bought @ 20c after reading some h.c chat
Tribeca (TGF) all data weekly
I get the feeling Tribeca want out completely, since 23rd Jan every week excepting 17/2 - 21/2 they're selling and selling decent chunks. I think the week of the 17/2 they might've been re-evaluating whether to sell based on Jan's numbers? Who knows. Especially heavy selling from them this week & we won't even know how much they're selling going forward other than a guess/hunch.
I think it will dump out this week & next, I'm moving cash into my brokerage acccount(Selfwealth can be a little slow in comparison to a bank brokerage) for hopefully take advantage of the opportunity.
I don't think buying at 20c is foolish, I think this is a classic case of market hysteria/mania i.e. a real opportunity for a long term owner. The price & direction on this company is as if they're going out of business or a crap-shoot on an explorer when the fact is they have a working mine & mill and some very interesting projects on the go: if you take the numbers of just their Hillgrove waste dumps then the gross value of the gold is about what their current market cap is, all they need to do is load up trucks & drop it off at the mill - no mining necessary - if they do it right that's another 10m cashflow each quarter for a year to help get Hillgrove up & running and none of this factors in their exploration & mining possibilities at their existing Thalanga operation.
I think it will dump out this week & next, I'm moving cash into my brokerage acccount(Selfwealth can be a little slow in comparison to a bank brokerage) for hopefully take advantage of the opportunity.
I don't think buying at 20c is foolish, I think this is a classic case of market hysteria/mania i.e. a real opportunity for a long term owner. The price & direction on this company is as if they're going out of business or a crap-shoot on an explorer when the fact is they have a working mine & mill and some very interesting projects on the go: if you take the numbers of just their Hillgrove waste dumps then the gross value of the gold is about what their current market cap is, all they need to do is load up trucks & drop it off at the mill - no mining necessary - if they do it right that's another 10m cashflow each quarter for a year to help get Hillgrove up & running and none of this factors in their exploration & mining possibilities at their existing Thalanga operation.
Bought more yesterday & today for around 7c, just a hair shy of doubling my position.
Good news from a director buying a significant chunk at 7.4c, should make him a top 20 holder.
Always happy to see management buying up big chunks at low prices.
Good news from a director buying a significant chunk at 7.4c, should make him a top 20 holder.
Always happy to see management buying up big chunks at low prices.
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,069
"if you take the numbers of just their Hillgrove waste dumps then the gross value of the gold is about what their current market cap is, all they need to do is load up trucks & drop it off at the mill - no mining necessary"
Yes great, but begs the question as to why the previous operator didn't try it - other than a lower gold price then.
Costs of bringing the plant up to productive activity from care and maintenance + reconfiguring to win more gold from the ore - I'm not going to bother making a guess, past experience. Don't like these scrappy ventures that can't put together consecutive cash positive quarters.
As a chart, I'm not at all convinced of reversal, the more so with a known dissatisfied shareholder whom it seems will continue to divest. I have a loose chart rule (they're all loose) not to buy once the monthly bars are closing outside the Bollinger band - not until price back inside and showing other signs of reversal. Just a personal rule I made up and I have seen it not vindicated at times.
Held
5 year monthly RVR
Yes great, but begs the question as to why the previous operator didn't try it - other than a lower gold price then.
Costs of bringing the plant up to productive activity from care and maintenance + reconfiguring to win more gold from the ore - I'm not going to bother making a guess, past experience. Don't like these scrappy ventures that can't put together consecutive cash positive quarters.
As a chart, I'm not at all convinced of reversal, the more so with a known dissatisfied shareholder whom it seems will continue to divest. I have a loose chart rule (they're all loose) not to buy once the monthly bars are closing outside the Bollinger band - not until price back inside and showing other signs of reversal. Just a personal rule I made up and I have seen it not vindicated at times.
Held
5 year monthly RVR
Picking this for the April competition again, roughly same reasons as March - expecting a decent quarter of production, selling pressure has eased up a lot since Tribeca has divested completely or stopped selling down. 4c or 20m market cap is just too cheap, might not be a 20c stock but it's definitely not a 4c stock.
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,069
RVR - Nice daily technical picture. Qtrly at least 6 weeks away, so not that. Looks like a possible leak? Does have gold exposure, but questionable ability to make something of it imoo. One of those 'tell a story about the future' mining companies.
Disc: Held
Sentiment: hold or sell
RVR 12 mth Daily
Disc: Held
Sentiment: hold or sell
RVR 12 mth Daily
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,069
Red River Resources near term plan for Hillgrove NSW
Bakers Creek ore reject dump from the early 1900's, 225 kt @ 2.5 g/t, 75% recoverable to dore.
To start processing before end cal 2020
Baker's Creek dump processing will then take them through next 12 months.
That could be worth $9m profit to them if they can wring a $500 all in cost margin out of it - probably more. Rough calcs.
Under ground mining to start mid cal 2021, processing to start end 2021. Grade u/g 7.1 g/t Au plus antinomy credit. Antinomy they claim is a strategic metal.
RVR now free of debt having just announced repayment of $6m working capital facility. Cash coming in from the Thalanga mine in North Queensland. They got the Hillgrove operations for nearly nothing. A modern plant well kept on care and maintenance.
A lot of announcements are about them either awarding themselves performance shares or exercising performance shares in their company. What performance? Most recent is half a million for the m.d, quarter of a million for another director.
Motivation for posting is mostly about the current chart.
Chart looks like break above 15c resistance level is imminent; another stock that's a 3 bagger from the Wuhan March low. I think I have a chance at getting out with my investment intact, entered @ 20C. Don't trust the management fwiw.
RVR weekly
Bakers Creek ore reject dump from the early 1900's, 225 kt @ 2.5 g/t, 75% recoverable to dore.
To start processing before end cal 2020
Baker's Creek dump processing will then take them through next 12 months.
That could be worth $9m profit to them if they can wring a $500 all in cost margin out of it - probably more. Rough calcs.
Under ground mining to start mid cal 2021, processing to start end 2021. Grade u/g 7.1 g/t Au plus antinomy credit. Antinomy they claim is a strategic metal.
RVR now free of debt having just announced repayment of $6m working capital facility. Cash coming in from the Thalanga mine in North Queensland. They got the Hillgrove operations for nearly nothing. A modern plant well kept on care and maintenance.
A lot of announcements are about them either awarding themselves performance shares or exercising performance shares in their company. What performance? Most recent is half a million for the m.d, quarter of a million for another director.
Motivation for posting is mostly about the current chart.
Chart looks like break above 15c resistance level is imminent; another stock that's a 3 bagger from the Wuhan March low. I think I have a chance at getting out with my investment intact, entered @ 20C. Don't trust the management fwiw.
RVR weekly
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,069
Excellent Qtrly base metal production from Thalanga ops in NTH QLD. Chart is daily showing gaps up but weekly chart now gives impression of a breakout a week and a half ago from a flag.
With Thalanga base metals performing and emphasis shifting to gold soon as well as Hillgrove Gold start up firming there could be more price wise, not that I will be adding.
YTD Daily
September Quarter production
With Thalanga base metals performing and emphasis shifting to gold soon as well as Hillgrove Gold start up firming there could be more price wise, not that I will be adding.
YTD Daily
September Quarter production
- Joined
- 31 March 2017
- Posts
- 261
- Reactions
- 208
I bought in at 7.5c earlier this year and have taken the seed capital out as of yesterday at 16.5c. Of course it then jumps to 18.5...
A win's a win!
A win's a win!
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,069
I don't know where you got the confidence to buy it around March, @CBerg scored close to the bottom too although it didn't register much in the monthly comp. RVR closing in on a 4 bagger since March if you take 5c for a realistic buy-in. I'm still lumbered with 20c avg. I suspect there'll be more to come in the next few months for the s.p - 20c is a given looking at the weekly chart but probably a bit more, absent bad news.
Weekly 2 Year (todays 15% gain not showing yet)
- Joined
- 31 March 2017
- Posts
- 261
- Reactions
- 208
Was just looking for small cap goldies and kept coming back to this one.
Don't get me wrong - it wasn't a life changing investment!
Don't get me wrong - it wasn't a life changing investment!
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,069
RVR moving strongly again today on good volume.
Quarterly was good:
Record copper production from Thalanga in N.Q. They're producing there from a deposit called Far West but things should heat up when they eventually get to the Liontown Project which has a current mineral resource of 4.1Mt @ 0.6% Cu, 1.9% Pb, 5.9% Zn, 1.1 g/t Au & 29 g/t Ag. They think they can extend Thalanga ops 10 years from the development of Liontown.
All debt eliminated
They might make $8m PBT or so out of the Hillgrove (NSW) gold plant start up phase. They think they've got 255 tonnes grading 2.5g/t to process from the Bakers Creek tailings dump. That'll last them 12 months at the plant, by then they'll be mining.
255 tonnes @ 2.5g/t ÷ 31 = 18,000 ozs Au
18,000 ozs x .75 recovery to dore = 13,000 ozs
13,000 x 1,000 = $13m PBT
Subtract $5m pre production capital investment = $8m conservatively?
Daily
Quarterly was good:
Record copper production from Thalanga in N.Q. They're producing there from a deposit called Far West but things should heat up when they eventually get to the Liontown Project which has a current mineral resource of 4.1Mt @ 0.6% Cu, 1.9% Pb, 5.9% Zn, 1.1 g/t Au & 29 g/t Ag. They think they can extend Thalanga ops 10 years from the development of Liontown.
All debt eliminated
They might make $8m PBT or so out of the Hillgrove (NSW) gold plant start up phase. They think they've got 255 tonnes grading 2.5g/t to process from the Bakers Creek tailings dump. That'll last them 12 months at the plant, by then they'll be mining.
255 tonnes @ 2.5g/t ÷ 31 = 18,000 ozs Au
18,000 ozs x .75 recovery to dore = 13,000 ozs
13,000 x 1,000 = $13m PBT
Subtract $5m pre production capital investment = $8m conservatively?
Daily
- Joined
- 19 October 2005
- Posts
- 4,128
- Reactions
- 6,069
Looking very constructive not only chart wise but the production and developments at Thalanga, N.Q and the approaching production and plan for Hillgrove NSW. Noosa presentation out today worth a look. Sorry now for my negativity before on this thread; threw myself off the scent anyway as I wasn't tempted to add during the March Wuhan crash at even as low as 25% of my own entry price.
The face grade photos at 'Far West' operations (Thalanga) are incredible - one is estimated 4.7m @ 48% zinc equivalent!
The project in development at Thalanga, called 'Liontown', is reckoned at providing 5-10 years of mine life - future gold and silver prices might see them producing the copper lead and zinc in the ore for next to nothing - just me speculating: Current Liontown Mineral Resource is 4.1Mt @ 0.6% Cu, 1.9% Pb, 5.9% Zn, 1.1 g/t Au & 29 g/t Ag (12.7% Zn Eq.)
The wider exploration plan is to focus on gold prospects on their Thalanga tenements which they say are in a world class gold endowed terrane.
At Curry's Lode (Hillgrove NSW) they are awaiting first drill assay results, but rock or augur sampling (don't know which) shows strong promise - 48.9 g/t Au, 10.55% Sb and 8.8% W
The face grade photos at 'Far West' operations (Thalanga) are incredible - one is estimated 4.7m @ 48% zinc equivalent!
The project in development at Thalanga, called 'Liontown', is reckoned at providing 5-10 years of mine life - future gold and silver prices might see them producing the copper lead and zinc in the ore for next to nothing - just me speculating: Current Liontown Mineral Resource is 4.1Mt @ 0.6% Cu, 1.9% Pb, 5.9% Zn, 1.1 g/t Au & 29 g/t Ag (12.7% Zn Eq.)
The wider exploration plan is to focus on gold prospects on their Thalanga tenements which they say are in a world class gold endowed terrane.
At Curry's Lode (Hillgrove NSW) they are awaiting first drill assay results, but rock or augur sampling (don't know which) shows strong promise - 48.9 g/t Au, 10.55% Sb and 8.8% W