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LNY - LANEWAY RESOURCES LTD


Brantley

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Morning All,

 

Just thought we should start a discussion on RSN seeing how most of us are in transit from OZe. It would be nice to have all the historical data follow us as well. Based on their past trend of Board members / management reporting buying additional shares and a market announcement following withih +/- 30 days ( have a look starting on the 30th of June to the 17th of Nov for the correlation ) we SHOULD http://www.asxboard.com/html/emoticons/icon14.gif see an announcement this week if the correlation is correct http://www.asxboard.com/html/emoticons/icon14.gif .

 

Cheers,

 

Brantley

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Hi Brantley - perhaps a nice Xmas present???? Wouldn't mind a drop in the interum as I sold my ords, but still holding on to the G's tightly. Actually, I think G's are very good LT as they are essential .05 options and you can take additional notes instead of $$$'s.

 

Sent Di an email about AB, so hopefully we'll see her here.

 

R/Ross

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G'Day Ross......Finally found my way here, although to date Oze is still doing nothing out of the unusual to me, all working fine.........

 

..I think that under 7c with RSN is great buying opportunity, it's been a patience thing with it, but the reward will be there IMO......

 

..Regards.Chas.

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  • 3 weeks later...

RSN really likes 7.3c. I'd be surprised if it does go under 7c.

 

Not much discussion on this stock. I hold a fair amount of RSN, looks like it could be a struggle to get back to 8c. Drill results are due when http://www.asxboard.com/html/emoticons/icon14.gif

 

Cheers

Scrag

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Hi Varmi - chart says you could be right about staying above .07 - this cycle runs to the 8th, so should be ready to turn for the next leg up. Might get some ords before it goes up again, but suspect your right about getting bargins in the .06's Like that saw tooth!??!? http://www.asxboard.com/html/emoticons/wink.gif

 

R/Ross

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  • 2 weeks later...

IN REPLY TO A POST BY rosskend, Sat 03/01/04 12:03am   [READ POST]

Hi Varmi - chart says you could be right about staying above .07 - this cycle runs to the 8th, so should be ready to turn for the next leg up. Might get some ords before it goes up again, but suspect your right about getting bargins in the .06's Like that saw tooth!??!? http://www.asxboard.com/html/emoticons/wink.gif

R/Ross

Well, it did fall under 7c. However is looking good for a rise judging by the depth and chart. Hope you picked up some o those ords. IMO I would expect to see it back above 8c.

 

Cheers

Varmi

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G'day, nice projects update announcement- Mine feasibility moves to final stages and additional exploration programs to commence. The final stage of the feasibility study can be completed by the company around mid-year allowing a decision to commence mining at Tom's Gully to be made at this time. Volume up today, very slow and steady rise....chart and depth looking better...buyers coming up to sellers price http://www.asxboard.com/html/emoticons/wink.gif

 

Varmi

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IN REPLY TO A POST BY Varmi, Fri 16/01/04 02:54pm   [READ POST]

G'day, nice projects update announcement- Mine feasibility moves to final stages and additional exploration programs to commence. The final stage of the feasibility study can be completed by the company around mid-year allowing a decision to commence mining at Tom's Gully to be made at this time. Volume up today, very slow and steady rise....chart and depth looking better...buyers coming up to sellers price http://www.asxboard.com/html/emoticons/wink.gif

Varmi

agree varmi, pretty good ann, met as usual (like OXR, with a selldown). Although unlike OXR, no country risk.

 

Breaking it down;

costs at A$350, current sell price A$550 so 35,000oz = $7m free cash flow, or 3.0cps X5 = 15c SP.

They will be in production before the end of 2004, so this must be a MINIMUM valuation by then.

 

200,000oz is current resource. The step out additional drills are targeting a "significant" increase over the current resource.

 

Then they have stated for Agate creek, "non JORC" estimate is 300,000oz. The drilling announced should prove this up.

 

THEN, RSN will have a 500,000 oz resource + whatever "significant" amount they add at Tom's Gully. My bet is a doubling at least for an all up total of 700,000oz resource. This MUST then be valued with a cap of at least $50-60m, or 22-26cps, probably quite a bit more.

 

Still RISK, until that decision to mine is made & then funding done (not much needed, as Quest 29 plant already operating).

 

Looking VERY good & I'm happy to have topped up this morning, although I might have got them cheaper now, although no RSNG for sale under $1.80

Long term, no big deal.

I have a trading lot of RSN, bought lowwer down, that I was looking to sell into strength. I think I'll just keep it in the bottom drawer with the rest.

 

cheers,

 

ned.

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Thanks for that Red, like your figures http://www.asxboard.com/html/emoticons/wink.gif I hold quite a few at 6.1c, I'm sure I'll end up kicking meself for not getting more but I've just topped up on OXR.

 

Rumour has it that they went down today because Rexboy bought them LOL!!!!!! http://www.asxboard.com/html/emoticons/tongue.gif

 

Varmi

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IN REPLY TO A POST BY Varmi, Sat 17/01/04 01:43am   [READ POST]

Thanks for that Red, like your figures http://www.asxboard.com/html/emoticons/wink.gif I hold quite a few at 6.1c, I'm sure I'll end up kicking meself for not getting more but I've just topped up on OXR.

Rumour has it that they went down today because Rexboy bought them LOL!!!!!! http://www.asxboard.com/html/emoticons/tongue.gif

Varmi

G'day varmi I also bought my trading lots at 6.1, although I started much earlier at 4.8 with the holding lots. I mainly have RSNG now (1.20-1.50, avg 1.31).

I just see it as hugely undervalued, particularly compared to other emerging juniors. The RISK is still there, until they prove up Tom's Gully for their 30-40,000oz, but I would say they have enough for a smaller mine now. Key here is they already have a production process, albeit small, at Quest 29. So worst case if they don't find one more oz (highly unlikely), they should be able to process what they have found so far at TG at Quest 29, while they continue exploring around TG & Agate creek.

 

I always look for worst case scenario & see if that's worth investing in.

 

So I see RSN with some RISK, but diminishing. Also funding will be low, as it's only an expansion of Quest 29.

 

Main thing is, RSN should be pouring gold from TG late THIS YEAR, way ahead of some of the other aspiring juniors, many having much higher market caps. I think the previous history of RSN coming out of the tech wreck company (Sirocco), may still be keeping some out of the stock. As with OXR (no, RSN is NOT an OXR), those will change their minds as RSN starts producing & then has several quarters on on/above forecast production.

 

The key is finding which of the juniors ARE going to make it & proceed with production, at a profitable cost.

 

Cheers,

 

ned

 

PS

good thinking, OXR & RSN.

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