Rusina Mining Nl Share Discussion Threads

[giant steps] 31/3/2010 10:21

No more 5.85p stock available, so buyers will pay 6p

[giant steps] 31/3/2010 09:14

  RMLA 5.85p converts to ENK 7.31p ENK prices bid 8.7p offer 9p   RMLA entry gives 18.7% discount

[giant steps] 31/3/2010 09:07

hectorp, brave to wait for asx - will probably be higher in london
on close and marked up in oz !

Prices bid 5.5p offer 6p, 2 v 3 (and firming on the bid)

[giant steps] 31/3/2010 08:05

DT, 5.85p RMLA is equiv to ENK 7.3p - very nice

[dickturnip] 31/3/2010 08:04

Hectorp

With the arbitrage op. if you can buy RMLA through asx it is arguably a great discount

[giant steps] 31/3/2010 08:03

hectorp, ENK looks to be a fast mover this morning (prices bid 8.75p offer 9.25p)

[hectorp] 31/3/2010 07:56

Not sure if I should hold this or ENK, I don't wish to buy both.. have been out for some months but today's ENK '6 weeks' news means its not wise to be out any longer.
H.

[giant steps] 29/3/2010 17:32

ENK AGM presentation 29th March 2010



Merger Rationale
Compelling Business Logic

* Appropriate timing: Ahead of DFS and development decision
* Consolidates JV into simpler corporate structure
* Secures Acoje's future & solidifies ENK's presence in the Philippines
* Enables cost savings: rationalisation of administration, financial synergies
* Strengthens management team
* Marries Rusina's Philippines experience with ENK's technology "know how"

[jcpete5] 29/3/2010 11:42

Current ENK share price values RMLA at 6.25p+

[giant steps] 25/3/2010 10:24

RNS 25th March 2010 (@10:22)

[giant steps] 25/3/2010 06:57

RMLA news > Thursday 25th March 2010



Key Environmental Compliance Certificates granted for Rusina's Acoje nickel-chromite project in the Philippines

Extracts
"
Nickel Heap Leach Project

The nickel heap leach ECC covers the extraction and processing of nickel laterite ore into a mixed hydroxide product. The major components of the project which the ECC covers are as follows:
• Mining - extraction of three million dry metric tonnes of nickel laterite ore per annum by surface mining for 10 years in 400 hectares out of the 3,675 hectares of the Acoje tenement;
• Heap Leach Processing Plant (HLPP) – processing of the nickel laterite ore through a plant comprising of an Agglomerator, Heap Leach Pads with 40 modules of approximately 63,000 cubic metres of ore per module, Five Process Ponds and a Precipitation Plant for the recovery of metals from the pregnant solution;
• Sulphuric Acid Plant – to provide up to 4,545 metric tonnes of 98.5% sulphuric acid for the HLPP as well as to provide steam for the 36 MW power plant;
• Water Storage Dam with a capacity of 1.7 million cubic metres, and
• Various storage and containment facilities as well as road and power access requirements.

Chromite Mining Project

This certificate is an enhancement of and extension to the ECC issued on 22 February 2008 for the nickel Direct Shipping Ore (DSO) operations. The major components of the project are as follows:
• Surface and underground mining rate of 415,800 metric tonnes per annum of chromite ore and 315,000 metric tonnes of chromite laterite ore;
• Processing plant for chromite with a production capacity of 378,000 tonnes per annum;
• Construction of all access roads, storage facilities, tailings ponds and silt traps, mine facilities, power and port as relevant to the chromite project, and
• Extraction of 1 million tonnes of nickel laterite ore per annum for DSO.
"

[dickturnip] 16/3/2010 12:16

Tuesday, March 16, 2010
Rusina Mining Boosts Cash Balance In H1 2009 With Fundraising

Rusina Mining (ASX: RML; AIM: RMLA) has focused its efforts on developing projects with shorter pay-off period in the six months to 31 December 2009, while raising funds to improve its cash balance.

Rusina Mining made no revenues after making A$68,687 in H1 2008 and posted losses of A$2.4 million compared to a loss of A$1.4 million for the equivalent period of the previous year, bringing losses per share up to A$0.72 compared to last year's A$0.59.

Current cash and cash equivalents stood at nearly US$5 million compared to A$2.9 million at 31 December 2008, while total current assets increased from A$19.2 million to A$21.97 million. During the period, Rusina Mining has raised some A$5.7 million through a placing.

The company undertook the minimum required expenditure in its early phase exploration projects, intending to concentrate on the projects that are most likely to achieve early cash flows.

Rusina has been focused on progressing the Acoje nickel heap leach feasibility study with the successful completion of the trial heap leach facility.

The nickel heap leach trial pad and pilot plant were opened on 9 December 2009. The trial heap will be constructed at the same height as the full commercial operation and is designed to prove the heap percolation and leach rates. All electrical work on the agglomerator, binder plant and associated monitoring equipment has been completed and the agglomerator and associated conveyers are now fully commissioned. The downstream processing plant shed was erected in post-period, while the resin in pulp, ion exchange and centrifuge will occur in Q1 2010.

Leaching will commence once the pad has been stacked and irrigation pipes placed over the heap.

The project is being funded by JV (joint venture) partner European Nickel (AIM: ENK), which is spending US$10 million to earn a 40% interest. The two businesses entered into a merger agreement after the end of the period.

Rusina is looking to undertake further drilling which seeks to move additional JORC resources from Inferred to Indicated status, also aiming to lower the current forecast cash cost of US$1.60/lb and increase the end payable product. This will lengthen the proposed mine life and increase the Net Present Value (NPV) from its present US$375 million.

[dickturnip] 09/3/2010 15:11

thanks chip

[chipperfrd] 08/3/2010 23:10

Peter,

My reference to fingers xxd in post 2950 was meant to literally mean 'fingers crossed' - ie with regard to a sympathetic recognition of the ISA issues arising from the merger for RML shareholders. I was not referring to our chartist friend!

[chipperfrd] 08/3/2010 23:06

DT,

It will be a consolidation of the shares in the merged group. So when all the dust has settled there will be a total of 221.5m ENK shares (incl RML).

[dickturnip] 08/3/2010 21:39

Chip

One would assume that if there's 4:1 consolidation on ENK there will have to be the same with RMLA

[jennyj] 08/3/2010 17:00

Charts are tea leaf reading. What will ultimatly win is the analysis of the business, the bottom line... the profit it makes, the income it provides the owners of the company (us). - hopefully

[p3dr036] 06/3/2010 20:00

As you probably know, Chip, I am no chartist.
But someone did ask on the MML thread if someone could post a technical analysis and I pointed them in that direction!

[chipperfrd] 06/3/2010 12:50

Peter,

I contacted Mark Hanlon, CFO at Rusina. He says that they are looking into this issue and will likely be addressing it in the scheme booklet.

Fingers xxd !
Chip