Rusina Mining Nl Share Discussion Threads

[chipperfrd] 11/9/2009 10:22

Gregory has been in London so perhaps the story is getting out a bit.

Long way to go yet though!
Chip

[hectorp] 11/9/2009 09:49

Hi chip
agree, has simply drifted along for ages. A good sign.
H.

[chipperfrd] 11/9/2009 09:06

H,

Because it has been way too low? :-))

Actually, it was up 8% in Oz on some decent volume.

[hectorp] 11/9/2009 08:58

Russino up today, any reason?

[mattybuoy] 10/9/2009 19:10

P.S. This came from seeing that today APF has announced it will list in Toronto. There is a no-brainer arbitrage opportunity if I ever saw one.

Sorry for O/T :)

[mattybuoy] 10/9/2009 19:08

I thought this was interesting. Just substitute nickel or other mineral of choice for "gold".



Rob Gregory's strategy would seem to be sort of halfway towards the royalty approach. I like it ...

[mattybuoy] 09/9/2009 19:27

Just savour the historical chart and dream of when 30p will be reached again ;)

[mlangton1] 09/9/2009 19:22

No problem Mat, thanks for the thread

[mattybuoy] 09/9/2009 19:13

No daily chart, sorry.

[mlangton1] 09/9/2009 17:07

is that a tick up? Is it possible to have a daily chart in the header, or do we have too little action to warrant one?

[energiser01] 09/9/2009 11:36

sorry wrong thread

[energiser01] 09/9/2009 11:36

Looks like news on the listing of AusPotash on TSX may be on the way. That kick starts Sirius options that they announced at start of July and puts some real value on the 52% they may own and they could opt to pay 2.5p instead of shares if they have the cash.

Under the terms of the option agreement, Sirius has until 30 September 2009, or such other date as the parties may agree in writing, to purchase all option shares owned by the sellers in AusPotash. The consideration paid for the grant of the option was £1 to each of the Sellers.



The consideration payable on completion of the agreement will be satisfied through the issue and allotment of Sirius ordinary shares of 0.25pence each. Alternatively, at the discretion of Sirius, the consideration may be satisfied by a cash payment to the Sellers at a price of 2.5p in lieu of each Sirius ordinary share that would otherwise be issued to the Sellers.



Following the completion of AusPotash's agreement with the optionees, then if and when Sirius exercises its option, Sirius will hold a minimum of 52 per cent of AusPotash's existing issued share capital as at today's date.

[trade 0utta here] 09/9/2009 07:20

Are they planning a fund raising exercise?

'comes to London bearing a strong report'

[chipperfrd] 09/9/2009 01:59

New from Minesite:

[eelanguilla] 09/9/2009 00:10

been watching this one for a while - it has attracted my interest now :)

[p3dr036] 07/9/2009 23:22

Chip - Have had a good read! Very impressive. Will be watching with great interest- thanks for the heads up!
Peter

[hectorp] 06/9/2009 18:19

THE nickel price is expected to rise by about 9 per cent in the 2010 financial year amid signs of recovery in China's stainless steel market, Minara Resources chief executive Peter Johnston says.

"Nickel demand and production in 2009 decreased 20 per cent and we're expecting a rebound of about 9 per cent in 2010," Mr Johnston told a business function in Perth.

The nickel price is now about $US18,300, which compares with a high of about $US55,000 a tonne at the height of China's steelmaking boom in 2007 and a 2008 low of $US8900 as it curtailed steel production.

Mr Johnston said the dip was "aberrant" and unlikely to be repeated. "I didn't think it would last," he said.

However, London Metal Exchange nickel stockpiles are at the highest levels since they began being recorded in 1990, indicating nickel price volatility is set to continue in the short term.

Mr Johnston said China's nickel consumption was showing sign of recovery, but a rebound in Europe and the US was needed also.

"Europe worries me -- it's very soft," he said. "Japan is also extraordinarily soft. There are some signs East Asia and the US might be improving.

"If it's just a China story, the industry will remain vulnerable."

He also said any nickel miner who believed they could develop a processing plant for laterites -- the most technically challenging variety of nickel -- for less than $4 billion was kidding themselves.

The vast majority of the world's nickel -- 70 per cent -- resides in laterite ores.

"I would suggest with BHP's experience with Ravensthorpe (in WA) and particularly Vale's experience with Goro (in New Caledonia), you would need about $4bn to start a nickel laterite plant," he said.

"Anyone who thinks they can do it cheaper is mistaken and I've got the scars to prove it."

Minara, formerly the Andrew Forrest-chaired Anaconda Nickel, endured years of problems processing laterites at its Murrin Murrin project in WA.

[mattybuoy] 03/9/2009 19:37

That chromite resource estimate is IMHO almost certain to be a gross under-estimate of what's actually there. The place has been barely explored beyond the surface and the old mine workings.

If you remember the old scoping study from 2006 there was little doubt that re-opening the underground chromite mine would be economic at recent prices, it's just a matter (as usual) of getting the capex funded. I seem to recall a figure of $50m or so would be required, which doesn't seem a lot in comparison to the heap leach.

[chipperfrd] 03/9/2009 15:32

New article on Minesite:

excerpt:
"Ferrochrome doesn't get many column inches in the financial press but it is a crucial commodity in a high tech world that relies so heavily on stainless steel. It is also one that seems to have had a very short, albeit sharp, recession. According to Dave Kovarsky, chief executive of International Ferro Metals (IFM), the ferrochrome market is now almost completely back up to speed after virtually grinding to a halt last year. Now the market is crying out for the alloy and producers can't restart capacity fast enough to meet the demand. Dave reports that even with production restarts there is still a shortage of metal as the stainless steel market has, or is not far from, returning to equilibrium.

But worth remembering that RMLA is more than 'just' the Ni/Co at Acoje.

They have a historic Chromite resource of 3.7mt @ 17%, which gives them an attributable resource of 1.1B lbs. At US$0.89/lb and assuming 1.2% of market price at this early stage it still works out at c. 2.8p/share!

Not that I would expect to see the market price that in for the foreseeable future.
Chip

[mattybuoy] 03/9/2009 01:47

chip,

I'm sure you're not wrong. It's just that these reports are so far and few between that I am perhaps trying to read more into it than is there ... :)

[zhockey] 02/9/2009 23:46

Chip,

I'm surprised you believe that RMLA has more upside than ENK

RMLA £10m - 40% of Acoje

ENK £45m - 78% of Caldag, 40% of Acoje, 50% of Devoli/Koko, 25% of Berong

ENK is 4.5x the m'cap but also potentialy 5+ times the ore, owners of the HL technology, geographical diversification, Caldag permitted and finance in the pipeline.

ENK has a 5 year development plan for 50K tonnes per annum, RMLA will only be arround 10K tonnes, so 5 times the cashflow plus future farm deals for HL tech.

[clearsoup] 02/9/2009 21:00

Correct me if I am wrong, but I am not sure that Mirabaud should be described as having been commissioned to write the report. They are RML's brokers, and as such receive a retainer, (see disclosures), but their analyst owes a duty of care to Mirabaud's brokerage clients, not its corporate finance clients; and I would be surprised if any payment was made specifically in consideration for a research report and recommendation. The situation is slightly different with commissioned reports from contract research houses, eg Edison, but they disclose that they have been paid by a company to write it up.

[mattybuoy] 02/9/2009 19:43

London usually trades at a premium to the ASX, for no good reason other than lining the broker's pockets (I suspect).

Occasionally a discount does arise though, we had one last week for a bit.

If you think the share is worth anywhere near Mirabaud's 37.6p does it really make any difference though?

BTW I am quite surprised that the company would commission a research report at this point if they really were going to simply merge with ENK. Or perhaps it's just part of a ploy to try and get the share price up beforehand? Not that it's working very well if so, lol.

[chipperfrd] 02/9/2009 18:53

zangdook,

AIM is generally fairly close to ASX but we do have a very wide spread which tends to distort the correlation.

Like you, I wanted to be able to park within an ISA account - as well as having exposure to the bigger picture via ENK.

By my calculations I believe the potential upside is larger with RML than with ENK - but clearly much can change before they reach the same stage as ENK.
Chip