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RMS - RAMELIUS RESOURCES LIMITED


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this stock has had a shcoking time of it...as have i.

 

Im surprised it went up as much as it did today, as I thought the announcement was pretty ordinary, though i suppose it had been hammered quite a bit.

 

The gold intercepts were very widely spaced so not much could be read into them.

 

Also, bonnievale was a bit of a dud.

 

Hilditch nickel and gold drill results are still in the wings so could be a hit or miss for the next month or so. Hilditch has got a great address, not far from TIR's nickel deposits...the West Aussie geological map i have plastered on my wall shows the potential quite well.

 

If its a miss, then us shareholders will need to wait for decent activity at Blue Hills and further drilling at black cat.

 

As Ive said before stay out of this unless ur interested in a long term spec with a lot of high risk exploration assets (and also if you dont mind losing a few grand).

 

Cdchi1

 

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Strong close today at .095.

I think this stock has potential and yes it has been bashed around a bit lately.I do know its run lean and mean and has a lot to prove.

From what I hear they are very confident about Blue Hills and if they can locate the nickel deposit at Hilditch it will be a huge boost.

Apparently Blue Hills has been held up because of the extended wet season.Results should be known soon.

Also noticed RMS are recommended by Tony Locantro in his Australian Explorers review on the Gold Eagle site.

The way its reacted to what cdchi1 calls a pretty ordinary announcement is an indication of how it will go if something really positive is released.Back to 20 cents I would think.

Remember the recent underwritten rights issue was at 11 cents.

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  • 4 weeks later...

Cdchi1 and Jonas X, this one has interest me since you (Cdchi1) brought it to my attention. Even though the volume is low and the SP has travelled south, the next couple of months may see a turnaround with the gold prospects Wattle Dam and Black Cat results including a resource estimate for Black Cat are due in the next three to four weeks. To add to this, mining development feasibility studies are expected to follow on both areas.

Hilditch which is the nickel play is to be drilled to test two nickel sulphide targets with the results of drilling due in August. Seems the SP could be good value at current levels.

The company appears not to mess about!! Comments appreciated.

 

 

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  • 2 weeks later...

For the faithful only at this stage in my opinion, a penny dreadful in a down trend that for the past few months has managed to trade about $21,000 worth of stock per WEEK is a stock to approach with care, but of course that could change.

Much safer stocks to trade around out there,... for example stocks in uptrends.

 

Cheers

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  • 2 weeks later...
Cdchi1, the gold results from Wattle Dam look fairly impressive to me. I think you could be right with this one. Maybe the turnaround the stock requires. Resource estimates look as though they're going to be more that the initial amounts indicated. PDYOR before buying. Now own RMS.
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WOULDNT IT BE INTERESTING IF IN SAY 9 MONTHS TIME RMS HAD TWO PRODUCING GOLD MINES AND A NICKEL MINE.

NOT UNREALISTIC AND WE SHOULD KNOW WITHIN THE NEXT FEW WEEKS.

 

"Ramelius confident of mining

 

Andrea Hayward

 

 

Monday, July 19, 2004

RAMELIUS Resources is confident of turning its Wattle Dam project in the Spargoville area of Western Australia into an operating mine in the next year.

 

"We are certainly looking at options, even finance at this stage," Ramelius managing director Joe Houldsworth told MiningNews.net.

 

"We're already looking at various mills in the area and in our own mind we are convinced we will have a mine there.

 

"We will be moving just as fast as we can on this one."

 

The announcement followed the results of a 1900 metre RC drilling program to better define the inferred resource of 150,000 tonnes at 4.6 grams per tonne gold at the project, 50 kilometres south east of Coolgardie.

 

Results from the drilling included 1m grading 130gpt gold from 7m, 2m at 47gpt gold from 17m and 9m at 8.3gpt gold from 12m.

 

"We are extremely happy with the success of the RC drilling program as it returned a number of spectacular gold grades along with many robust gold intersections," Houldsworth said.

 

"The anticipated mine would have a lead time of possibly six months with a further six months required to mine the resource.

 

"As Wattle Dam is also on a granted mining lease with Native Title agreements in place, this will further minimise development lead times."

 

Houldsworth said the project had a number of advantages including free digging ground, custom milling nearby and being located close to a bitumen road.

 

"We set drilling records in respect of metres achieved on a daily basis during the latest Wattle Dam RC schedule and this would seem to confirm our opinion that the nature of the ground, being weathered ultramafics, will probably be free digging to 40-50 metres depth," Houldsworth said.

 

Extensional and infill digging is set to continue at the site.

 

Shares in Ramelius were trading unchanged at 10c in early afternoon trade on the ASX."

 

 

 

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