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RMS - RAMELIUS RESOURCES LIMITED


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Applications under current SPP (1:1) were to expire Tuesday 20th Feb. So tomorrow was to be the last day for express post on RMS. However, the closing day for Rights Acceptances has now been extended to 5.00 p.m. Adelaide time on Friday, 5 March 2004 (announced 11/2). $2.5M underwritten of the $4M.

 

Offer price is 11c. Shortfall shares can also be applied for. No options included. To raise $4M. Current Market cap is $2M - seems low considering RMS have a modest Au resource to mine and some exploration prospects.

 

The offer letter boasts that 11c is a 24% discount to the last price on the ASX prior to the date (24-Dec-03) of the announcement of the offer.

 

This one is a close call. Has been drifting down for a few months and closed on Thursday (12/2/04) at 11c. Gyrates badly and has never had any good direction since listing (31-Mar-03 at 20c with 1:2 free options). Ordinary investors never had a chance yet to get out at a profit.

 

Someone badly dumped this company on the 21st January - price spiked way down on high volume. Wonder what price the seed investors got in at and what proportion of the shares they hold? 10c may still be double their money perhaps. Ordinary investors in the IPO have had a sorry run in RMS so far.

 

Any way, with the extension of the closing date I don't have to decide tonight so I can wait and see till Wednesday 3 March for my decision.

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IN REPLY TO A POST BY Blue_Sky_Harvest, Sun 15/02/04 11:10pm   [READ POST]

Applications under current SPP (1:1) were to expire Tuesday 20th Feb. So tomorrow was to be the last day for express post on RMS. However, the closing day for Rights Acceptances has now been extended to 5.00 p.m. Adelaide time on Friday, 5 March 2004 (announced 11/2). $2.5M underwritten of the $4M.

Offer price is 11c. Shortfall shares can also be applied for. No options included. To raise $4M. Current Market cap is $2M - seems low considering RMS have a modest Au resource to mine and some exploration prospects.

The offer letter boasts that 11c is a 24% discount to the last price on the ASX prior to the date (24-Dec-03) of the announcement of the offer.

This one is a close call. Has been drifting down for a few months and closed on Thursday (12/2/04) at 11c. Gyrates badly and has never had any good direction since listing (31-Mar-03 at 20c with 1:2 free options). Ordinary investors never had a chance yet to get out at a profit.

Someone badly dumped this company on the 21st January - price spiked way down on high volume. Wonder what price the seed investors got in at and what proportion of the shares they hold? 10c may still be double their money perhaps. Ordinary investors in the IPO have had a sorry run in RMS so far.

Any way, with the extension of the closing date I don't have to decide tonight so I can wait and see till Wednesday 3 March for my decision.

plenty of potential with this one...very prospective ground, with two known small gold resources...but it has plenty tenements that could host company making projects...

 

Im definitely taking up rights being offered by broker.

 

This and the next quarter will see plenty of drilling activiity.

 

C

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  • 2 weeks later...

good announcement today, just before rights issue recipients (like me) get their shares...should limit any downside (will stop some from selling out).

 

PLENTY of upside if they hit nickel...those interested should see the ann and the embedded map jsut to cehck where they are drilling.

 

Cheers

 

Cdchi1

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  • 3 weeks later...

Breakaway resources yesterday had good drill results from their mining area in Spargoville...this gives further support to my proposal that RMS have a good chance of encountering mineralisation at their Hilditch project (currently being drilled). Hilditch is also in the Spargoville region.

 

Cdchi1

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bit of rights selling today i think...

 

RMS rights issue finalised and new top 20 which makes for interesting reading...do a google search on some of those mining companies in the top 20 list and you will see some interesting things.

 

Also very tightly held, over 64% with top 20...which is quite high...though i expect some rights selling to change that.

 

Interesting also the number of super fund holdings...not the tyope of stock id be betting with super money unless i was REALLY confident (which i am)

 

IVe posted the latest top 20 below.

 

cdchi1

 

Shareholder

No: Ordinary Fully

Paid Shares Held

% of Total

Issued Capital

Beach Petroleum Limited 13,400,002 22.71

MAPD Nominees Pty Ltd 4,091,531 6.93

Mandurang Pty Ltd 3,148,600 5.34

Joseph Fred Houldsworth 2,620,000 4.44

J P Morgan Nominees Australia Limited 2,000,000 3.39

Killoran NL & Kurana Pty Ltd 2,000,000 3.39

Pitt Capital Partners Limited 1,818,456 3.08

Aurelius Resources Pty Ltd 1,610,000 2.73

Far Corners Minerals NL 1,000,000 1.69

Mr John Roberts McIntosh & Ms Melanie

Sarah Hughes <The Chattan Super Fund a/c>

950,000 1.61

WHI Securities Pty Ltd <Nominee a/c> 906,536 1.54

Toltec Holdings Pty Ltd 720,000 1.22

Persal & Co Investments Pty Ltd 650,000 1.10

Kinver Mining NL 500,000 0.85

Pacific Strategic Investments Limited 454,615 0.77

PCP Securities Limited 454,615 0.77

Pethol (Vic) Pty Ltd <a/c Macdy No. 5 Super

Fund>

454,615 0.77

Burnal Pty Ltd 400,000 0.68

Push Button Pty Ltd 365,700 0.62

Dr Richard Kenneth Hart & Ms Lynette Mary

Hart <Hart Super Fund a/c>

350,000 0.59

37,894,670 64.22

 

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Was aware of this company because I used to have shares in Beach Petroleum until the frustration of the lack of recognition caused me to bail out.

RMS seems a good buy at this price (today 12 cents ).I was very tempted when they floated but am obviously glad I didnt get any because the share price retreated almost immediately ( from 20 cents )

The timing of the float was terrible because no one was interested in new exploration companies then.

How quickly things change!

cdchi1 Is there any reason in particular you are so confident about RMS ?

Must admit they seem to have a lot more going for them than most of the current IPO's and are about half the price.Very limited downside and potentially huge upside ( look at DEG)

Am thinking I should bite the bullet and buy in.

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IN REPLY TO A POST BY jonasx, Mon 29/03/04 08:22pm

hi jonas...firstly, as you probably know from all my posts on this board, i am a investor with a very long term horizon...i dont like paying tax to the ATO.

 

Secondly, i own 13 mining stocks at the moment, so this is just one of many.

 

Thirdly, given the current depth, if you are a short to medium term person, you;d probably be slightly insane to be buying right now http://www.asxboard.com/html/emoticons/laughingsmiley.gif

 

The market depth is shocking (though much of that is due to cancelled buy orders due to rights issue)...i expect those to get filled up again soon.

 

Anyway as to why i like it as a LONG TERM propositon.

 

Firstly, it fits my requirements, i have a few VERY Safe mining stocks that are going aces for sure, and i need a few SPECS some of which will provide me huge multiple returns (hopefully).

 

RMS fit this latter category.

 

It has a number of quality exploration projects, that jeff houldsworth smartly snapped up during metal price bottoms frm companies that were either going tech, giving up on mining, or had no cash to progress.

 

Included are two 'small resource' gold mines...which i expect will be feasible at higher gold prices (and we will have higher gold prices) which will provide IMPORTANT cash flow to fund exploration of other projects. Black Cat was recently shown to have marginal return... but that was at a sub 400 gold price and a post 78c XR.

 

ITs other projects, well theres too much to cover as to why i like them...but ill cover two key ones briefly:

 

1/ Hilditch: currently being drilled with results expected in two lots, first, shallow drill results in april, and if justified deeper drill results in may. Hilditch is both nickel and gold...its located between various nickel depostits and so is veRy prospective for nickel...in my opinion, there is nickel, its just a matter of how much, and what grade.

 

2/ Blue hills: company very excited by this...low background gold values, but huge area and consistent, which makes it very prospective.

 

I suggest going to the webpage and checking the various PDFs available on each project which gives great info.

 

But yeah like i said, you'd have to be slightly insane to be buying RMS with the current market depth...funnilly enough i did get some more http://www.asxboard.com/html/emoticons/wacko.gif

 

Cdchi1

 

 

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