Rusina Mining Nl Share Discussion Threads

[gcom2] 29/5/2010 01:27

hi dont have time to read the rns etc
chaps, is this a good investment, yes or no?

[jennyj] 28/5/2010 23:06

300 million dollar loan yikes

[hectorp] 17/5/2010 09:29

G-S I believe this was on the cards for a while, so we should not be surprised that the Chinese funding has not materialised. My only disappointment if it is that , is that ENK has not quite signed a bank manatate letter, but I am sure it will be very soon, ie, weeks not months.

That provides a further opportunity to top up on RMLA as I suspect we are at about the floor for this situation now. but I am disappointed at the drop from 7.5p, as I will need to average down. Oh well!
- similar sentiment for ENK.
H.

[giant steps] 17/5/2010 07:55

Caldag Chinese financing - it's over for now; preference now on Western Banks

More delays, more uncertainty

Is this a PR disaster for ENK ?
Can ENK management be trusted ?
What implications for the ENK/RMLA completion ?
New implications for Toledo, will tripartite occur ?


Reminder 17th May 2010



Extract
'
Simon Purkiss, Managing Director, said "Whilst we worked hard to deliver the
Chinese project finance, we could not go on indefinitely without a clear sign of
commitment from the Chinese parties before our extension deadline.
...
'

[giant steps] 16/5/2010 23:05

Reminder prices for RML on ASX 14th May 2010, A$0.088 - A$0.089

Closing prices RMLA on LSE 5.75-6.25p

[giant steps] 16/5/2010 23:04

Reminder from ENK re Caldag Forestry Permit

14th May 2010

[mattybuoy] 05/5/2010 16:21

I'm not sure the market is mad. This Greece/EU thing could be when the GFC really comes home to roost.

[chipperfrd] 05/5/2010 11:19

If there is anything that can be construed as positive from the current madness in the markets it is that the ENK VWAP is now highly unlikely to be anywhere near 11.1p on May 14th - so at least the swap is likely to go ahead at 4 for 5.

[p3dr036] 04/5/2010 13:40

This appears to be the relevant part of the Scheme Booklet applying to UK holders of RMLA Shares held in an ISA.

=======QUOTE [from pages 100/101 - see the RMLA Website] =====

Shares held in an Individual Savings Account (ISA)
Rusina shares currently qualify as a potential ISA investment as they are listed on the Australian Securities Exchange. However the shares in European Nickel that shareholders will receive in exchange will not be qualifying ISA investments. This is because they are only listed on AIM. Whilst it is intended that Chess Depositary Instruments will be listed on the ASX it is necessary to consider the status of the relevant shares.

As a result of not being listed on a recognised stock exchange, European Nickel
shares received in exchange for Rusina shares currently held in an ISA will, within 30 calendar days of the exchange, need to be either:
(a) sold (in which case the proceeds can remain in the ISA); or
(b) transferred to the investor to be held outside the ISA.
No tax should arise as a result of this transfer.
========UNQUOTE========

Hope this is of use to you all.
Answers my question and I will sell the shares and hold the proceeds in my ISA as my nominee account provider doesn't trade shares on the ASX.
Peter

[mdr128] 30/4/2010 08:09

The update says the date for setting the value of the RMLA to ENK shares conversion is 14th May (somewhat uncoincidentally you'd guess!), with VWAP 10 days before that. Looks like the ratio may not quite include the effect of any finance news, or maybe the news will come early!!

[mattybuoy] 30/4/2010 00:49

Quarterly report:

[hectorp] 28/4/2010 11:36

Base metals miners suffer losses overnight.
H.

[giant steps] 27/4/2010 15:09

wdurham, i fully understand the ratio and cap limit on the deal - perhaps
you misunderstood my previous comment.

edit : the max value before scaling gives an implied RMLA price 8.944p

[wdurham] 27/4/2010 14:55

Giant steps -

The cap value has nothing to do with the level of Rusina's share price.

ENK are willing to pay up to £27.1 million for Rusina in ENK paper. Given the number of Rusina shares in issue, that equates to no more than 11.18p per ENK share - irrespective of the price of RMLA shares. If the ENK share price stays below 11.18p per share, then the 4:5 ratio will be maintained. If the ENK share price rises to MORE than 11.18p per share, then the swap ratio of 4:5 will be scaled back so that fewer ENK shares are issued to maintain the total amount payable in ENK paper at £27.1 million.

All of this is totally independent of Rusina's share price.

[jennyj] 26/4/2010 16:37

Id imagine the share price will get a bit more acurate w/less spread in the merged company, mining funds will be allowed to invest once the market cap gets bigger. It also opens the door to bigger investors.

[giant steps] 26/4/2010 08:20

DT, remember the cap values are 8.944p RMLA (= 11.18p ENK)

Plenty of scope for reliable gains as ENK stretches above 11p

[dickturnip] 26/4/2010 08:13

ENK share price .. Value/RML share
7 ..........5.6p
8 .......... 6.4p
9 .......... 7.2p
10 ........ 8.0p
11 ........ 8.8p

You could say Rusina (RMLA) has got a fair bit of catching up to do...

[giant steps] 25/4/2010 21:30

Excellent summary DT, thanks - gap to 9p should soon narrow imo (seems obvious)

[dickturnip] 25/4/2010 20:37

Just in case there are new investors here, I thought it prudent to put all the recent bits together in one place

news, press, presentations etc

Recent press articles



New Caldag mandates imminent




European Nickel is looking to mandate lead banks on the US$300m-plus loan for its Caldag mine in the next few weeks. Further banks will then be added to the club. The loan will likely be for 7-8 years, and fund 70% of project cost. It is looking to close in Q3. etc





Project or pre-pay?













Archive but worth a read



Company websites for ref.



www.rusina.com.au

Recent updates

merger timetable - updated



Acoje key permits



Due dilligence completed



merger details / announcement



Project financing update



AGM Presentation



ENK audio interview



Proactive presentation ENK



Rusina Mirabaud repoort 09



Other bits of interest







Expo Central China 2010 to Be Held in Nanchang in September and Jiangxi Province Will Collectively Release 400 Investment Projects



ISTANBUL, April 14 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), arrived in Istanbul Wednesday, starting his official goodwill visit to Turkey.

[hectorp] 23/4/2010 08:53

Up 0.25p..
IG Index has come off phone-only for RMLA now, 0.8p spread. Actual share spreas is presently 0.75p.