RTM - Reefton Mining

RTM up over 50% from 2 weeks ago!
Going high today aswell. 36 million shares traded in 38 minutes of trading.

Anyone know why RTM might have had a trading halt put on them?
Theyve traded 98 million in volume today, but at about 1pm, a trading halt was placed on them.

Anyone know why RTM might have had a trading halt put on them?
Theyve traded 98 million in volume today, but at about 1pm, a trading halt was placed on them.

Awaiting announcement re: new uranium find. I saw the notice in the RIO news this morning. Interesting share as it's doubled in value since yesterday.

Going high today! Predicting further increases though. Mabey upto 20cps today.

There was a 10mill share buyer at 16.5c

Big Intended Sellers @ 16-17 cents - BE CAREFULL!

Big Intended Sellers @ 16-17 cents - BE CAREFULL!
You think there might be a down turn today?

It is possible.

When drilling starts in the next few days and the New Uranium Discovery isn't what they expected, then expect it to plummet.

Could go either way!

Had that nasty experience with RRS recently. Massive nickel suplhides discovered, then went into trading halt. New annoucement released and they found nothing of commecial value!

stock plummet 50% in a few days!

Market Depth from Comsec as of 9:27am Sydney Time:

BUY:

3 133,000 0.200
1 3,000 0.190
2 26,200 0.185
7 185,073 0.180
18 649,500 0.175
24 2,310,211 0.170
21 3,104,975 0.165
25 2,985,225 0.160
16 1,349,490 0.155
40 2,336,715 0.150

SELL:

0.150 629,000 5
0.155 290,000 1
0.160 2,000,000 2
0.165 480,254 5
0.170 2,566,710 9
0.175 2,297,098 16
0.180 790,000 13
0.185 894,743 8
0.190 801,500 13
0.195 443,262 12

There isn't as many high bidding buyers today as there was yesterday. People were buying at about 23 cps yesterday before trading started.

I wouldn't be buying for any more than 15cps today. Its definetely going to drop before it goes up again.

Down at 14cps currently; Market Depth as of 2:30pm Sydney Time.

BUY:

28 3,298,141 0.140
26 2,416,810 0.135
23 2,294,846 0.130
15 1,076,000 0.125
8 664,333 0.120
5 330,000 0.115
22 1,465,545 0.110
7 1,323,000 0.105
18 662,500 0.100
1 100,000 0.098

SELL:

0.145 140,886 1
0.150 1,828,978 13
0.155 1,540,832 22
0.160 1,893,171 22
0.165 1,480,700 16
0.170 2,227,164 18
0.175 2,335,938 17
0.180 1,970,990 15
0.185 379,500 4
0.190 843,900 14

Certainly settled down since yesterday and the day before. Anyone think they still have the potential to go to what analysts predicted(23-24cps)?

Looking primed for another day of action today.

if the next results are good i think it will easily go past 24c, at the moment alot of the potential is factored into the price if they dont find anything significant it will go down hard.
I might jump in for a trade somewhere but pretty risky stock atm

if the next results are good i think it will easily go past 24c, at the moment alot of the potential is factored into the price if they dont find anything significant it will go down hard.
I might jump in for a trade somewhere but pretty risky stock atm

I jumped in and out today, made a cool 10%. Not bad for one day I think.
Might do the same tommorow, depending on market conditions.

looks like thier should be some more movement north tommorow nice move in the uk tonight.

good work el ninjo i'm thinking about jumping on and holding for the rest of the results now, didn't expect them to fill us in piece by piece, and was caught napping today :(, wouldn't be surprsied to see them back to 15 in the next few days of trade :/, looks like their pretty tight with no leaking to insiders which is a great sign

hope it goes well

Anyone know much about the uranium mining industry? I'd just like to know what the likely hood of RTM actually pulling something out of the ground worth while is. They have had similar announcements before and by looking at the charts, you can all see what happend then too. Is this one going to be any different?

Taking a big dive today. Down to 10c from 12.5c yesterday. I think it'll hit about 8c today, and mabey even down to 6c within the week. Until the next announcement, I wouldn't be buying any higherthan 6c.

Maybe there ain't no Uranium in the ground

Maybe there ain't no Uranium in the ground

The drop in price was due to the announcement made. As follows:

STATUS OF RENEWAL APPLICATIONS FOR ERONGO AND SKELETON
COAST EXCLUSIVE PROSPECTING LICENCES

As a result of significant delays by the Mining Commissioner of the Ministry of
Mines and Energy, Namibia in addressing renewal applications lodged in
respect to the Erongo Polymetallic Project (EPL 2805 – 2811) and the
Skeleton Coast Diamond Project (EPL 2698 – 2700), and in the absence of
any official correspondence from the Ministry of Mines and Energy, Namibia
as to the progress of the renewal applications, the Board of Directors have
resolved to engage legal counsel to pursue the same.

Section 71(3)(a) of The Minerals Act (Namibia), 1992 provides that mineral
licences continue to remain in force until such time as the Minister of Mines
and Energy refuses to grant a renewal for the licence.

With the renewal applications for the Erongo Polymetallic and the Skeleton
Coast Diamond Project having been lodged in March 2003 and August 2004
respectively, and despite assurances from the Ministry, it is the Board’s view
that the period of time the Commissioner has taken to consider the renewal
applications for the Erongo Polymetallic and Skeleton Coast Diamond Projects
is inappropriate and unreasonable.

The Board of Directors will provide an update in respect to this matter as
further information comes to hand.

__________________________________________________ _______________

So its just a problem with the status of renewal. Hopefully it can be resolved shortly.

Stock Bid $ Offer $ Last $ Change* Open $ High $ Low $ Volume
RTM 0.082 0.083 0.082 0.000 0.110 0.110 0.081 119,372,921

Record levels of volume today.

Market depth is looking as though it will go even lower.

I was watching RTM closely this morning, and could not help but notice that it dropped from an open of .11 to .093 by 10.15 am, but within 2 minutes it was back up to .97. My feeling was that there were traders thinking it was a bargain at that price. I thought it might have pushed the price back up. :2twocents

what carnage...

Personally i think this is a big over reaction and a great buying oportunity.
going to copy and paste a article from miningnews.net courtesy of a poster called summertime at HC, if this is inappropriate feel free to delete + my apologies..

Reefton's Namibian problems emerge


Jesse Riseborough


Tuesday, April 05, 2005
INVESTORS reacted angrily this morning to news from uranium hopeful Reefton Mining that renewal applications for prospecting licences at both its Erongo uranium and Skeleton Coast diamond projects in Namibia have yet to be approved.

The shareprice shed 32.5% in morning trade to 8.1c, continuing a turbulent few days for the explorer including the surprise exit late last week of managing director Vladimir Nikolaenko.

The company reported "significant delays" in dealings with the mining commissioner of the ministry of mines and energy in Namibia, and said it had engaged legal counsel to pursue the approvals.

"It is the board's view that the period of time the commissioner has taken to consider the renewal applications for the Erongo polymetallic and Skeleton Coast diamond projects is inappropriate and unreasonable," the company stated in a release to the market this morning.

Reefton chief executive officer Simon Gilbert told MiningNews.net today that Reefton were still awaiting the response from the Namibian Government, which he hoped would be achieved within the next two days, but acknowledged it could take longer for the issue to be resolved.

"Essentially we are waiting for a formal response from the Namibian government indicating the status of our renewal applications for our Namibian leases, and they were requested to respond to us by the close of business yesterday which they haven't done," Gilbert said.

"We don't know at this stage [when this will happen], hopefully sooner rather than later. All being well we could get response within the next 24-48 hours but of course it could take longer as well."

Reefton said the renewal application for the Erongo polymetallic project was initially lodged in March 2003 while the renewal application for the Skeleton Coast diamond project was lodged in August 2004.

Gilbert said a legal team representing Reefton would be meeting with the president of Namibia today in a bid to expedite the process. He also claimed that a failure to resolve the issue would have a major negative economic impact on the small African nation.

"We have engaged senior counsel, and they will be speaking with various levels of the [Namibian] government today including the president to expedite resolution of this issue, which obviously has significant consequences for Reefton but also major ramifications for Namibia as a country,"

Gilbert added that the failure to renew the licences at this point would have no impact on the drilling program at Erongo announced last week. However he was unable to state the short term impact it would have on Reefton's operations in Namibia.

"Obviously we are trying to seek resolution on this issue. Primarily the projects are the same as they were a week ago. They are advancing well but obviously we need to resolve this other issue regarding the ground," Gilbert said.

Gilbert said he didn't think the massive volume of shares traded on the market this morning necessarily represented growing scepticism about the company's operations in Namibia. More than 137 million shares have been traded in the opening two hours, representing a turnover of almost $13 million.

"There a probably a lot of day traders that are responsible for a lot of the volume, but as I have mentioned the projects are in good standing, and it is just now an issue of whether or not the renewals are going to be accepted. The investors, you would expect to be watching closely, and could potentially view this as a buying opportunity considering the state of the projects."

Gilbert added that Reefton believed there was be no chance the licences would not be renewed and ruled out any connection between today's announcement and the resignation of managing director Nikolaenko.

Last month the stock jumped 81% to around 12c before hitting a 52-week high of 18c (March 22) on the back of back of a new focus on uranium.


if they do get this sorted out within a few days could be a lot of upset sellers. imho the desperation to renew the leases might indicate some very good uranium results..

as gambly as they come please do your own research, i think thiers money to be made here but could just as easily lose it all...

what carnage...
if they do get this sorted out within a few days could be a lot of upset sellers. imho the desperation to renew the leases might indicate some very good uranium results..

as gambly as they come please do your own research, i think thiers money to be made here but could just as easily lose it all...

Carnage... This was a masacre. I watched it fall from 11c on the open and then to 7.9cents in about 2 hours time.

I personally think its an overreation aswell, and the lease will be renewed, they seem to be pretty keen on it if they are sending someone to the president, and like you said tarnor, their enthusiam to renew the lease would indicate they still count it as valueable land.

Great buying opertunity is my opinion.

From my observations of the market, and they are only my observations, I would be wary of buying in if RTM looks like closing on a low. If you think it was a massacre today, what will the end-of-day traders do with it when they look at the market tonight, and realize that they are down 30ish%. Could push price even lower tomorrow, unless the bargain hunters have a lot of push. :2twocents

From my observations of the market, and they are only my observations, I would be wary of buying in if RTM looks like closing on a low. If you think it was a massacre today, what will the end-of-day traders do with it when they look at the market tonight, and realize that they are down 30ish%. Could push price even lower tomorrow, unless the bargain hunters have a lot of push. :2twocents

I already predicted around 6c for tommorow, but I was wondering what your opinion was on when a stock closes on the low of the day. What does this usually indictate? That it will go lower the next day aswell?

I'm only going by past observations, and they may not be that accurate, but I really do feel that the end of day traders can have a large effect. The way I figure it is that a lot of the trading intra-day is by (us?)so called 'day traders'. But what are the end of day traders going to do when they see the end of day figures? That is the basis of my idea. I have seen it happen many times. And after test running a few 'black box computer programmes', I beleive this may be part of the cause. I do not use these systems, but got burnt in the early days with their promises, and saw enough of the system to understand how they operate.

But then I have been tricked up many times with my 'perception' of what may be about to happen. It may just be Murphys Law.

You are right in that closing near the low is significant, and in a case like this will usually signify further drops. However, I don't think it is because of black box trading programs. Most people will be waiting around to see what everyone else is doing, and if at the end of the day (after a number of hours mulling over the recent announcement) no one is stepping up to buy, then they will also sell.

Although TA (technical analysis) is half rubbish, the other half can give you an insight into the herd mentality. I read a very good TA book: "Listening to the market" but it is old so not sure if still available.

I already predicted around 6c for tommorow, but I was wondering what your opinion was on when a stock closes on the low of the day. What does this usually indictate? That it will go lower the next day aswell?


:2twocents

Personally I think that it will keep dropping. I would normally say (opinion only) that if it was at the top of its range, it would be just a retracement. If its at the bottom of its range, then I would expect it to bounce back up. The only exception to this is if it was at the bottom of its range and there was a volume spike associated with it (as is the case), then I would think that the price will keep dropping.

Hope I make sense..., and only my thoughts.

I'm punting the other way and expect people to of processed the news over night and realise theyve over-reacted and want back in, i'm guessing a 1 or 2 c rise. Uk listing wasn't hit as savagely as our market by the news.

looks like a great opurtunity to make some quick $$$ IMHO, could be horribly wrong though! each to his own and best of luck

announcement out this should take off today should maker a few people some quick $$$


7 April 2004
Company Announcements Office
Australian Stock Exchange Limited
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam
FURTHER REPORT ON THE STATUS
OF RENEWAL APPLICATIONS FOR ERONGO AND SKELETON COAST EXCLUSIVE
PROSPECTING LICENCES - NAMIBIA
Further to the announcement of Tuesday 5 April 2005 Reefton Mining advises that the
Permanent Secretary, the Director of Mines and the Mining Commissioner of the Ministry of
Mines and Energy, Namibia (MME) have provided the Company with clarification and written
assurances that Exclusive Prospecting Licenses (EPL’s) covering the Erongo Polymetallic
Project (EPL 2805 - 2811) and the Skeleton Coast Diamond Project (EPL 2698 - 2700) remain
valid pending the determination of Renewal Applications by the MME, which are under
consideration.
In terms of Section 71(3)(a) of the Minerals Act (Namibia), 1992 the EPL’s covering the
Erongo Polymetallic Project and the Skeleton Coast Diamond Project remain valid pending the
determination of Renewal Applications, and the MME has confirmed that this is the case.
The MME has acknowledged the delays to date and has assured the Company that they
appreciate the importance and need for a timely outcome to this matter.
The Company is pleased to advise that it remains fully committed to the exploration and
development of natural resources within Namibia for the benefit of all stakeholders, including
the people of Namibia, the employees and shareholders of the Company.
The Company will provide an update as to the progress of the renewal of the EPL’s in due
course.
Yours faithfully
BS MOORE
Chairman
1st Floor, 47 Ord Street
West Perth
Western Australia 6005
Email: quadrant@optusnet.com.au
Website: www.reeftonmining.com.au
Tel: (61 8) 9322 7822
Fax: (61 8) 9322 7823
A.C.N. 010 546 675

announcement out this should take off today should maker a few people some quick $$$

Im in it this mornign for the quick gain, while i study, hopefully can make a few dollars to complement the losses ive had lately.

Don't know if you saw this one yet el_ninj0, its being posted everywhere.

The Namibian (Windhoek)

April 7, 2005
Posted to the web April 7, 2005

John Grobler
Windhoek

THE announcement by an Australian-listed mining company, Reefton Mining NL, that it has made a uranium discovery on the farm Hakskeen outside Usakos, has been greeted with widespread scepticism by analysts and geologists.

Rather, it is being suggested, the 'uranium discovery' might well have been the result of alleged sloppy geology, as the specific deposit is well known to be thorium, another radioactive substance that is sometimes used in fluorescent lighting fixtures.


"I would be very, very sceptical of any announcement of a major uranium find at Hakskeen," said Cape Town-based geologist Dr Nick Stevens, who has written his doctorate on the geology of the area where Reefton said it made its find.

On March 18, Reefton NL announced to the Australian Stock Exchange (ASX) that it has identified four new radiometric anomalies in close proximity to the Langer Heinrich deposit.

The Langer Heinrich deposit is again close to the Roessing deposit, which is the fourth largest uranium mine in the world.

In the announcement, titled 'New Uranium Discovery', Reefton NL said: " the company has discovered a new uranium target at its wholly owned Erongo Polymetallic Project in central Namibia, Africa".

"The company has commenced radiometric surveying returning significant readings of up to 94 320 counts per minute, thereby indicating the presence of uranium-bearing mineralisation," the letter to the ASX Company Announcement Office stated.

Reefton also said it had found "radiometric anomalies" at three other farms in the area, namely Vergenoeg, Sukses and Hoopverloor.

The company said these anomalies "occur within alluvial basins interpreted to have developed on palaeochannels similar to the Langer Heinrich uranium deposit owned by Paladin Resources Ltd located south of Hakskeen".

The Langer Heinrich deposit is a proven uranium-vanadium deposit.

BOOMING PRICES

Booming uranium prices appear to have created a bull market for new uranium discoveries, and Reefton's stock price shot up in the week after the announcement, made late last month.

Its stock increased by another 40 per cent on the London-based Alternative Investment Market, a somewhat speculative venture capital market.

According to Reefton, the price of uranium has increased from an annual month-end spot price of US$11,54 per pound (about N$70 per pound) to US$21,75 per pound (about N$130,50 per pound, or N$293,63 per kg).

Current world production is estimated at 46 000 tons a year, while the estimated demand is 79 000 tons a year.

With especially developing economies like India and Russia opting to build more nuclear power stations to cope with exponential growth in demand for electricity, analysts projected that there would be a massive shortfall in world uranium production.

Another Australian company, Paladin Resources, which owns the rights to the Langer Heinrich uranium deposit, recently raised more than US$38,9 million (about N$233 million) on the international market for the development of the new mine.

Pending some environmental impact assessments and feasibility studies, construction of a mine at Langer Heinrich is expected to start by the middle of this year.

WRONG KIND OF ROCK

Professor John Moore of the Rhodes University Geology Department said in a telephonic interview that he would be very surprised if real and viable quantities of uranium were to be found at Hakskeen.

While many of the rock formations between Usakos and the coast display levels of radioactivity (the Spitzkoppe are considered to be quite "hot"), Moore said that Hakskeen basically had the wrong kind of rock for a genuine uranium deposit.

The Hakskeen area is something of a legend among geology students, and many master's degree students have, over the years, visited this site as part of their training to differentiate between real and false indications of uranium deposits, he explained.

"Thorium is a close relative, if you will, of uranium, and in the process of its radioactive decay, produces small quantities of uranium," Moore said.

But the deposit at Hakskeen consisted largely of thorium potassium and small quantities of uranium, with most of the radioactivity attributable to the thorium, he noted.

The area was part of an extensive, French-sponsored aerial radio-magnetic survey in the early 1990s, and subsequent drilling at the site proved that it was unlikely to contain any uranium.

Dr Nick Stevens also pointed out that as a granite-based deposit, it was unlike the Roessing or Langer Heinrich deposits.

"It is what we call a monozite, a rare earth phosphate normally associated with heavy beach sands but one that also can give off a radioactive signal," he said.

He elaborated that the sophisticated modern Geiger counters used by geologists would be able to show differences in radiation from thorium, potassium or uranium.

"Each one gives off a distinct signal, which you can tweak on a computer to see what exactly it is you are looking at," he said.

All the granite formations between the Ebony siding, on the way to Swakopmund, and the coast gave off radio-active signals, Stevens said.

"A place like Spitzkoppe would also give a strong radioactive signal, but in that kind of granite formation it is basically geologically implausible," he said.

The ASX also appeared to have had its doubts over the likelihood of the new uranium find, and at one point suspended trading in Reefton shares to ask the company to issue further clarifying information.

Reefton Mining also has an Exclusive Prospecting Licence along the Skeleton Coast in an area north of Moewe Bay, where for the past four years it has been struggling to prove a viable diamond deposit.

So far, it has only been able to produce micro-diamonds - diamonds smaller than 0,20 of a carat - although these have been favourably priced.

But Reefton seemed very sure of its uranium find, and announced that the company had retained the services of Dr Christian Schlag, a well-known uranium geologist, to substantiate the find.

Relevant Links

Southern Africa
Asia, Australia, and Africa
Mining
Namibia
Company News

maybe the journo is planing to pick some up cheap tonight in the uk :)

hasn't effected our sp today.

was tempted to bail but i'm going to continue to hold, rtm have specified in previous ann that they used up to date equipment, have a geoligist specualised in that area, why would thier be such a fuss about getting leases renewed etc..

Don't know if you saw this one yet el_ninj0, its being posted everywhere.

maybe the journo is planing to pick some up cheap tonight in the uk :)

hasn't effected our sp today.

was tempted to bail but i'm going to continue to hold, rtm have specified in previous ann that they used up to date equipment, have a geoligist specualised in that area, why would thier be such a fuss about getting leases renewed etc..

Interesting stuff tarnor. I'd say its just someone looking for a story with no new real information on the subject. I doubt reefton would want to suffer the ramifications of falsly inflating the sp by providing incorrect or incomplete information to the asx.

That article is probably why the price has slumped at 9.5cps currently, was moving high today early, upto 10cps, and even holding there for about 20 minutes or so, but then around 50minutes into trading it dropped to 9.6 and subsequently 9.5.

I'd say most of the traders are awaiting further information from reefton before we see another big move in the price.

Ive only been day trading this so I dont currently hold any, if I did, I would be selling them asap.

slipping away now, i'm going to wait till monday as a potential exit with a little more upside, apparently thier will be a response to the newspaper article. who knows, not much more to be said really
cheers :)

slipping away now, i'm going to wait till monday as a potential exit with a little more upside, apparently thier will be a response to the newspaper article. who knows, not much more to be said really
cheers :)

:)
I told ya to sell didn't I?
Just kidding...

hehe true, would have been a good sell on open re entry on close :).

i'd presume thier will be an ann before open on monday, would almost say i've got a good feeling about it but that would almost be as silly as investing in this one in the first place :D

Early low tarnor. Whats your predictions for the rest of the day?

* some people apparently contacted reefton on friday about the sceptical newspaper article and were told that reefton would make an ann monday to address the claims

* more rumours - on another forum someones broker has apparently read an article in a nambian newspaper about a further uranium find by reefton.

if those things were true particually another uranium target you would expect more buying, should really be in a trading halt if that was the case.

I think its bottomed today, but its hard to know whats going on behind the scene on no news a slight recovery to .088 possibly would be my guess, if that newspaper article is rebutted i'd guess a close touching on 10c

at the moment i think its just been traders exiting :/


all guesses i'm afraid, lamenting that i didn't jump on HRR last friday :banghead:

* some people apparently contacted reefton on friday about the sceptical newspaper article and were told that reefton would make an ann monday to address the claims

* more rumours - on another forum someones broker has apparently read an article in a nambian newspaper about a further uranium find by reefton.

if those things were true particually another uranium target you would expect more buying, should really be in a trading halt if that was the case.

I think its bottomed today, but its hard to know whats going on behind the scene on no news a slight recovery to .088 possibly would be my guess, if that newspaper article is rebutted i'd guess a close touching on 10c

at the moment i think its just been traders exiting :/


all guesses i'm afraid, lamenting that i didn't jump on HRR last friday :banghead:


It seemed to me before trade that it was going to be a slow start to the week. Very low levels of interest in RTM, which is unusual, since its still in a state of the unknown.

If there is going to be a response to that newspaper article, where will we be able to see it?, RTM announcement? or another newspaper article?

I think most are holding at the moment, awaiting more news. A few buyers at 7.5cps, Im doubtful it will get down to there though. on 8.2cps currently.

RTM asx announcement for response to newspaper article was the rumour. assay results ment to be released soon, maybe thier just going to hold off a day or two, some good results would be the best rebuttal.

You'd think they would want to wait till leases are fully processed before releasing assays, an aftermarket ann would be bad :/

and thats the last time i make any public intraday price predictions :P

the saga continue.... it seems the two sources for the defamatory article in a namibian paper were totally misqouted the freelance journalist is also currently facing charges on bribing a police officer..

A poster on ss emailed the two geolisgists referenced and these were the responses.

Dear John

I am not a Reefton employee nor a consultant acting on Reefton's behalf. To
ascertain whether Reefton has made a discovery of a commercially viable
uranium deposit, I suggest that you contact Reefton directly to obtain,
inter alia: geological plans & cross-sections, a drill hole plan, summary of
drill hole assays, a JORC-compliant resource statement & reserve statement
and a Competent Persons Report.

I am not a uranium specialist/expert nor have I ever claimed to be. My Ph.D.
thesis was on gold, tungsten & tin mineralisation to the east of Hakskeen.
You can obtain a copy of my thesis (which has nothing to do with uranium),
which was published as Memoir #16 of the Geological Survey of Namibia, from
the Survey in Windhoek.

Sincerely

Nick Steven


and the other specialist

Dear John,

I am afraid that I have been mis-attributed in this article. The reporter
phoned me, but I did not have any direct information regarding the Hakskeen
deposit.
He told me that the radiometric anomaly was reportedly related to thorium. I
then told him that if that was the case, then the anomaly could not be
related to carnotite in calcrete/gypcrete as carnotite does not contain
thorium. I then explained to him the nature of thorium anomalies - that
section is correctly attributed to me.
I told him that I visit the Rossing area (not Hakskeen area) on an annual
basis to show my students the difference between real and false uranium
anomalies.
All the references attributed to me regarding the nature of the Hakskeen
deposit and aerial anomalies are incorrect as I had no knowledge of the
geology of the area.

I therefore cannot help you in this regard and suggest that you contact Dr
Steven.

Regards
John Moore


courtesy of gods_broker SS

thiers more, reefton calls for a retraction i must have been wrong about an asx ann responding to the article, they will probably just release results by the sound of it.


Wednesday, April 13, 2005
EMBATTLED uranium explorer Reefton Mining has asked for a retraction from a Namibian newspaper that published a report casting serious doubt on the potential for uranium at the company's Erongo project in Namibia.

In a story recently published in the Namibian national newspaper, Professor John Moore of the Rhodes University Geology Department was quoted as saying he would be very surprised if Hakskeen, within Erongo, contained "real and viable" quantities of uranium.

However Reefton chief executive officer Simon Gilbert told MiningNews.net he had contacted Professor Moore regarding the story and was advised by Moore that he was quoted out of context. Gilbert said Moore had emailed this statement regarding quotes attributed to him in the story.

"I am afraid I have been miss-attributed in this article," Moore has told Gilbert.

"The reporter phoned me but I did not have any direct information regarding the Hakskeen deposit. He told me that the radiometric anomaly was reportedly related to thorium. I then told him that if that was the case then the anomaly could not be related to carnotite, as carnotite does not contain thorium.

"I then explained to him the nature of thorium anomalies and that section is correctly attributed to me. I told him that I visit the Rossing area (not Hakskeen area) on an annual basis, to show my students the difference between real and false anomalies.

All the references attributed to me regarding the nature of the Hakskeen deposit and area anomalies are incorrect, I have no knowledge of the geology of the area. I referred the reporter to Professor Jacobs and Dr Nick Stevens. It is possible he has confused statements coming from Dr Nick Stevens as coming from me."

Dr Nick Stevens, a Cape Town-based geologist who wrote his doctorate on the geology of the Hakskeen region, was also quoted in the story as saying he was very sceptical about Reefton's announcement of a new uranium discovery on March 18.

Stevens claimed the geology of the granite-based deposit is distinctly different to other known uranium deposits in the region including the ASX-listed Paladin Resource's Langer Heinrich deposit.

"It is what we call monozite, a rare earth phosphate normally associated with heavy beach sands but one that also can give off a radioactive signal," Stevens said.

Gilbert said Reefton were also awaiting a response from Dr Stevens regarding his comments to the newspaper.

"We are waiting on a response from Stevens as well which will hopefully come through today and then I would think the company would be in a position to form a response to that.

"We actually want the paper to write, essentially a retraction article because they have mislead the public in a big way. You could potentially say that article has stripped 20% off the value of the company because since that has come out we have dropped from 10c down to 8c," Gilbert said.

Meantime the company is still awaiting resolution regarding the renewal applications for exploration licences at Erongo.

Shares in Reefton today were up almost 4% this morning to 8.1c.



interesting stuff i think thier is plenty of upside here personally i continue to hold..

Someone from another forum has personally contacted the Professors mentioned in the original article and received the following responses


Dear John,

I am afraid that I have been mis-attributed in this article. The reporter
phoned me, but I did not have any direct information regarding the Hakskeen
deposit.
He told me that the radiometric anomaly was reportedly related to thorium. I
then told him that if that was the case, then the anomaly could not be
related to carnotite in calcrete/gypcrete as carnotite does not contain
thorium. I then explained to him the nature of thorium anomalies - that
section is correctly attributed to me.
I told him that I visit the Rossing area (not Hakskeen area) on an annual
basis to show my students the difference between real and false uranium
anomalies.
All the references attributed to me regarding the nature of the Hakskeen
deposit and aerial anomalies are incorrect as I had no knowledge of the
geology of the area.

I therefore cannot help you in this regard and suggest that you contact Dr
Steven.

Regards
John Moore

And this one from Dr Nick (no Simpsons references, please)


Dear John

I am not a Reefton employee nor a consultant acting on Reefton's behalf. To
ascertain whether Reefton has made a discovery of a commercially viable
uranium deposit, I suggest that you contact Reefton directly to obtain,
inter alia: geological plans & cross-sections, a drill hole plan, summary of
drill hole assays, a JORC-compliant resource statement & reserve statement
and a Competent Persons Report.

I am not a uranium specialist/expert nor have I ever claimed to be. My Ph.D.
thesis was on gold, tungsten & tin mineralisation to the east of Hakskeen.
You can obtain a copy of my thesis (which has nothing to do with uranium),
which was published as Memoir #16 of the Geological Survey of Namibia, from
the Survey in Windhoek.

Sincerely

Nick Steven

Looks like theyve lost their CEO. Dont know what affect that might have on the share price. Any speculation?

Renewed interest in this stock today and yesterday. Any ideas as to why?, i havn't seen any news or announcements on this stock.

Renewed interest in this stock today and yesterday. Any ideas as to why?, i havn't seen any news or announcements on this stock.

again?

ASIC raids Reefton HQ

http://thewest.com.au/20050914/business/tw-business-home-sto132232.html

Lost a bit of play money on this dog really was a bad story in the end.. Hope these guys go down someone on another board lost 100k :/

I was considering this company about 6 months ago for a buy and hold, glad I didn't. A big ouch to all investors!

Sometimes in the midst of all this bad news, companies like this make good buying ops. for the risk takers.

What I can't understand how people can be so stupid to still buy into this
stock, it dropped to 0.29 cents and has actually gone up a bit. Here is
a company that is raided by the police on suspicion of insider trading and
god knows what else and some people still think they are a good bet,might
as well put the money on the horses.

uk rtm shares will be on the asx soon which will mean even more dumping. crazy to buy now

uk rtm shares will be on the asx soon which will mean even more dumping. crazy to buy now

Wow, this one is done for in my opinion now. I had speculated myself if they had been trading on inside information after the research in Namibia wasn't allowed to continue, but this pretty much confirms it. Glad I wasn't holding any.

Just a hypothetical "IF".......a big "IF"........
A far fetched scenario the following? Perhaps....BUT......Please read.......
The Namimbian Government (Ministry of Mines) has taken awfully long time to reply (and justify) re: The refusal of the Honorable Minister of Mines in Windhoek to grant exploration Rights for Nuclear Fuels (Uranium) to Reefton.....Thus far nothing has been heard. Not a word. Why?
Would it be -perhaps- that they (The Namimbian Ministry of Mines) have investigated everything and everybody in order to find and cite a Legally tangible reason for their refusal to grant the Exploration licence?
Why am I say that? Simple. The Namimbian Government -unlike many other African Governments- is very pro Businnes and very Highly regarded in Western Investment Circles. It could not just authoritatively and without a very good (legally that is) reason refuse such a Licence to a Foreign Company which has invested capital in their Country.
So.......Here comes the big "IF".......What "IF" the ASIC was asked by the Namimbian Authorities (I know...I know......Too far-fetched a scenario..) to investigate "certain" individuals and the Company which they may suspect (or....Or have, (were) been told by"others" .....Interested in RTM's Uranium Rights...) of having committed illegal transactions (insider trading?) in conjunction with their exploration activities in Namimbia?
This would have been the only legally good enough reason for the Namimbian Authorities (and perhaps others, "Third Parties" who know what Reefton's Leases contain...), since, as stated earlier, they have thus far, failed to find other reasons that Legally can justify their "NO" to RTM's application for a Nuclear Fuel Licence Exploration......We must remember Windhoek's thus far excellent Standing in the International Business (and Political) Community.....

Tantalisingly too far-fetched a scenario? Yes, more than likely. BUT......It still remains a scenario....
Hopefully we will we hear news (soon) from the ASIC investigation. If (as the Company believes) the individuals and Reefton are cleared of any illegal transactions etc, Reefton, whether my scenario holds any water or not, will be well on its way to a better future.......

In the mean time...Cheers:)).......We can only hope...Can we not?

haha thats a great scenario only one problem i can see with it is it might tempt someone into buying rtm if asic can't get any dirt. Which is likely to end in more heart ache :D


I was under the impression that RTM breached the mme guidelines they wouldn't need any legal angle other then that to exclude them safely.

Another thing that i vagueally remember someone saying was that Niko - the director that looted rtm when it spiked by dumping his shares and resigning - had been involved in another company that the mme had refused a license. Please don't take that as fact but i assume the mme may hold niko in disdain and were pissed when they saw him pump the uranium story then piss off with the plunder. For rtm nuclear aspirations to be reignited maybe they need to completely ditch all thier previous management , I think moore's the only one left?? Maybe a name change and to build a fresh relationship with the mme. I learnt heaps from this trade, and the stories not over!! exciting stuff

Tarnor......For a "Newbie" you are indeed exhibiting an admirably profound knowledge of all things RTM:)))
Methinks, we know each other from "other" forums....
Now, back to the fascinatingly interesting Reeftonite (Uranium ores are, mostly, ending in -nite...) story. You are probably right in one thing.
The previous management of RTM are not exactly the type of angels St. Peters would have invited around for a Sunday lunch.......BUT Bradley Moore seems to be doing a good job -against many adversities-. I have only spoken to him 2-3 times on the phone in relation to extracting more info (to no avail...).
I think (and of-course I hope) this is the last serious obstacle RTM is faced with....From now on (if thinks are going to get the ASIC ALL CLEAR that is) there is only one way......NORTH!!!!!!! And to be more Geographically precise....North-West!!!!!!!!!!!!!!!
Cheers and all the best my friend...Whoever you are:))))

well as you can see by my photo i'm the one who likes to play around in S@!#, but i got flushed with rtm :P

I wonder how many traders will run back to rtm if it does turn the corner, could be a huge run :/

did you see this? remember rtm's area rich in worthless thorium..

New Delhi, Aug 25 05: India today unveiled before the international community its revolutionary design of a Thorium Breeder Reactor (ATBR) that can produce 600 MW of electricity for two years "with no refuelling and practically no control manoeuvres."


Designed by scientists of Mumbai-based Bhabha Atomic Research Centre (BARC), ATBR is claimed to be far more economical and safer than any power reactor in the world. Most significantly for India, ATBR does not require natural or enriched uranium, which the country is finding difficult to import.


It uses thorium -- which India has in plenty -- and only requires plutonium as "seed" to ignite the reactor core initially.


Eventually, ATBR can be running entirely with thorium and fissile uranium-233 bred inside the reactor (or obtained externally by converting fertile thorium into fissile Uranium-233 by neutron bombardment).


BARC scientists V Jagannathan and Usha Pal revealed the ATBR design in their paper presented today at the week-long "International conference on emerging nuclear energy systems" in Brussels.


The design has been in the making for over seven years. According to the scientists, the ATBR, while annually consuming 880 kg of plutonium for energy production from "seed" rods, converts 1,100 kg of thorium into fissionable uranium-233. "This differential gain in fissile formation makes ATBR a kind of thorium breeder," they said. (Agencies)

Published: Thursday, August 25, 2005


could be worth throwing a couple of a k in if it gets to 2c..

Yes, Thorium is not exactly as "useless" as many have thought.....
However, thus far not much advanced testing involving Thorium has taken place
since it has always believed that Uranium 235 (235U) is by far more fissionable, along with Plutonium 239 (239Pu), and 238U (Uranium 238) is the most fertile natural Radinuclide one.....
India indeed has taken the lead in Thorium fissioning and using it as Nuclear Reactor fuel....
Wait and see......

PS....I doubt that RTM any lower. If anything, when the "All Clear" is given, by ASIC, expect a sudden and substantial upward movement.......

***********************Correction***************** ***
In my previous post, where I wrote:
"India indeed has taken the lead in Thorium fissioning and using it as Nuclear Reactor fuel...." it should read: "India indeed has taken the lead in the Thorium-Uranium Cycle fissionining.........", for, Thorium232 which is found in nature (like Uranium238, and some Uranium235) and is four times more abuntant than Uranium IS NOT FISSILE.
Thorium232 is Fertile (like Uranium238) and after capturing a neutron this fertile Thorium nucleus and after undergoing two Beta Decays, this Thorium232 Isotope becomes Uranium233 WHICH IS Fissile and CAN produce energy through sustaining a chain reaction in a Nuclear Reactor.
It must be added here that the ONLY FISSILE nucleus found in nature is Uranium235 (U235). All others including Plutonium239 are the products of Fertile Nuclei which after absorbing neutrons give birth to fissile (fissionable, splitable, able to be split and produce energy by sustaining a chain reaction) nuclei....

Cheers;))))) To a great and profitably enjoyable day ahead of us.......!!!!!!!!!!!!!

ASIC raids Reefton HQ

NEALE PRIOR


The Australian Securities & Investments Commission yesterday raided the West Perth headquarters of uranium play Reefton Mining after launching an investigation into suspected breaches of insider trading and market disclosure laws.

Investigators from ASIC and the Australian Federal Police not only executed search warrants on Reefton's Ord Street offices but also on the homes of several current and former officers of the company.

Reefton chairman Brad Moore confirmed late yesterday that ASIC was investigating suspected contraventions of the continuous disclosure, false or misleading statements and insider trading provisions of the Corporations Act, as well as related matters.

Mr Moore said the suspected contraventions covered the period from July 1, 2004, to April 7 this year.

The company was embroiled in market controversy in April after its long-standing managing director Roger Nikolaenko offloaded about a third of his stake in the group less than a week before uncertainty surfaced about renewals of its Namibian exploration leases.

Mr Nikolaenko quit as managing director of the company on April 1, citing other business commitments. Substantial shareholder notices lodged a fortnight later showed that he had sold 3.34 million Reefton shares on March 31 at an average price of 11.3¢.

The sales came after a rally in the stock following an announcement on March 18 that it had made a new uranium discovery at its Erongo polymetallic project in Namibia, news that drove the share price from 6.6¢ on March 17 to a close of 17¢ on March 22.

As part of their raids and document seizures yesterday, investigators searched Mr Nikolaenko's luxury Mercedes parked at the back of Reefton's headquarters and seized what appeared to be data tapes from the back seat.

While ASIC officers were searching the Reefton offices, Mr Nikolaenko told WestBusiness he did not know what matters the commission was investigating but he believed it was to do with the company's affairs in Namibia.

"They want all the documentation - they have an open file," he said. "I am not sure what their mandate is. There is a whole gang of them up there."

Mr Nikolaenko's lawyer, Martin Bennett, said the investigation related to the affairs of Reefton.

"We are happy to co-operate - there is basically nothing to be concerned about," he said.

After Mr Nikolaenko's resignation, Reefton shares went into a downward spiral after it was revealed on April 5 that it was suffering delays in getting finalisation of applications for renewals of its Namibian leases that had been lodged more than seven months earlier.

It subsequently gave the market detailed updates on the progress of its talks with Namibian authorities.

Reefton management secured the renewals for its tenements in June but Namibian authorities rejected Reefton's application for its exploration licences to include nuclear fuels, reducing hopes of the company again riding market interest in uranium plays.

The company was dealt another blow last week when it was kicked off London's Alternative Investment Market after being unable to find a replacement for its sponsoring broker, who had quit last month.

Reefton shares closed 0.1¢ down at 3.8¢ yesterday - its lowest close since January 2001.

Mr Moore said yesterday the company had taken legal advice. The advice indicated that, based on the information available to the company, there had not been contraventions by the company.

Mr Nikolaenko said yesterday he was sure the authorities would tell him if they found something.

"If they find nothing we won't even get a sorry about the bother," he said.


Niko seems pretty confident, loks like thier definately targeting him in particular

Great info there on those metals Epsilon, very educational.

RichKid...always a pleasure my friend:)))) Always.......
Enjoy a great weekend......Although the Brisbane weather is not going to be exactly conducive for a day out on the beach tomorrow.....If you live in Brisbane that is:))
Tarnor.....I don't think Roger Nikoalenko is worried much..... in fact he is adamant, neither he nor anybody else from Reefton has done anything illegal......
We will soon know.....And hopefully the price will commence its arduous Northern movement again.......
Cheers!!!!!

Ouch this has been one huge roller-coaster ride. Good luck to all that hold.

Hopefully the share price improves!

any ideas on how long an asic investigation takes before they give the all clear? seems like thier could be a 15-20% play on that alone.- given that the investigation has been rumoured for awhile this would definately be one hurdle out of the way and has probably been making traders nervous for awhile

Epsilon as for your scenario about nambian authorities waiting for the all clear from asic. Reefton said they were seeking a meeting to discuss the nuclear fuels matter. Would reefton be required to tell us if the mme was flatly refusing to have this meeting or would they just stay quiet about it?. Would kind of think that with the current situation they would be transparent as possible. The thing that still concerns me is that reefton started drilling 2 days before they sent off the nuclear fuels inclusion lease application.. Since i don't know much about mining i'm not sure how much of a boo boo that is.. Still looks to me very much like its niko that the mme have the issues with..

tempted to buy this for some reason - dog to its own vomit :D

I agree tarnor, I was thinking almost exactly the same thing. Although, its an extremely risky buy as no one really knows what the hell is going on with the ASIC investigation. It could be the end of the company for all I know. Also, I doubt the Namibian authorities would have stopped because ASIC told them to. I'd say they have another agenda, possibly a higher bidder on the land?

Just a thought.

:goodnight

Methinks.....(only my opinion.....) Tarnor is closer to the actual scenario plot twist......We will have to wait and see whether a meeting will finally take place between RTM and the Namimbian Ministry of Mines......
If it is going to happen....Well then......I would say the chances for the granting of the Licence for Nuclear Fuel exploration are pretty good......Don't you think so?
Aufwiedersehen for now...Take care:)))))

Nic is no stranger to a bit of company strife. ;)

http://www.pierpont.com.au/eco_Archives/default.cfm?behaviour=view_article&id=3361

damn.. more bailing,

2 company secretaries resign..

maybe thier sick of answering call from pissed share holders...

If Moore can pull this company thru he's a legend..

damn.. more bailing,

2 company secretaries resign..

maybe thier sick of answering call from pissed share holders...

If Moore can pull this company thru he's a legend..

Tarnor......The two secretaries were not allowed to speak to shareholders -and never did.....Bradley Moore is the only one who takes shareholder calls....
Actually I regard it (along with few other developments) as a very positive thing the departure of the last of the "old guard".....Before long, they (RTM) may even move out of the offices they are presently sharing with Roger Nikoalenko and his other companies.....
Soon, very soon in fact, we may hear surprisingly GOOD news re: REEFTON....

I am now confident that all the "bad news" are out. From now on ONLY POSITIVE news.....
Cheers!!!!!

Tarnor......The two secretaries were not allowed to speak to shareholders -and never did.....Bradley Moore is the only one who takes shareholder calls....
Actually I regard it (along with few other developments) as a very positive thing the departure of the last of the "old guard".....Before long, they (RTM) may even move out of the offices they are presently sharing with Roger Nikoalenko and his other companies.....
Soon, very soon in fact, we may hear surprisingly GOOD news re: REEFTON....

I am now confident that all the "bad news" are out. From now on ONLY POSITIVE news.....
Cheers!!!!!

What evidence do you have of this good news Epsilon? How have you come about this information about them moving out of Nikoalenko's office?

What evidence do you have of this good news Epsilon? How have you come about this information about them moving out of Nikoalenko's office?

El NinjO...The operative word in both cases is "MAY".....
"MAY even move out of Roger Nikoaelenko's offices".......
"We MAY hear surprisingly good news".......
Cheers......and a geat day wish I thee:)))

Don't you think it's about time to hear some (POSITIVE) news about Reefton?
It's been a while since this stock had some good news announced.....
Methinks the time is nigh......A bird tells me very nigh indeed......
We will see........Cheers:))))

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=RPT&companyName=&principalActivity=&industryGroup=NO

Been here all morning---the news!

Patience my friend.....Patience is a virtue. Patience IS Rewarded:)))
RTM...RPT.....Both commence with an "R"....Both are in Namibia...Neighbours in fact!
There is however a HUGE difference.......Try and find it!!!!!
Cheers...To a wonderful weekend:))

Is the diference that RPT isnt being investigated by ASIC??

My mistake I'll look at the code next time--pologies.

Starting to stir.. still haven't heard anything about the ascic investigation, tis been a while though maybe thier clear...

could be worth a quick punt but just feels o so dirty :D

up 17.86% to 0.033 now. Cannot find any announcement. Anyone knows why? Thanks.

up 17.86% to 0.033 now. Cannot find any announcement. Anyone knows why? Thanks.

Have RTM lost the African mining rights, or are they still in negotiations. I am not sure of what their actual business comprises of any more ???

As far as I know they were trying to meet with someone from the nambian minsitry for mining to discuss the knock back in regards to including exploration for nuclear fuels(uranium) in thier erongo permit. This was in an announcement months ago now... Since nothing has been said officially and also given that thier latest quaterly didn't have a hint of the U word in it, i'd say its not looking to good.. Mind you thier hardly going to risk mentioning U when theyv'e already got the nambioan officials so offside..

My question is about the asic investigation... did they find anything?

might get some movement when that info eventuates...

Does anybody know why Reefton Mining stocks surged recently for one day only. They dropping back to the 3.1cent mark next day. I heard throught the grape vine they were told to resubmit their Nuclear Energy application, but maybe that was just a rumor. Any news appreciated.
Cheers

was also a new substantial holder notice the other day which was interesting... 7 percent, 22m ish shares... pretty ballsy with the companies track record

Got no idea about the rumour could have just been circulated to pump and dump

have watched the last 3 similar spikes, the last one had very big props come in.. probably due for another pump now though and that substantial holder notice might help... might get a little out of it...

even if they were to be rewarded with nuclear fuels inclusion, uranium punters are way more controlled now don't think it would go back to its old lusty hieghts...

Dug op this one as it has had quite a remarkable run the past few days. Also an 'interesting' history by the looks of it. Any daytraders jumped on this yesterday?

Something very odd going on. Price movement like that on no announcement...

lol, can't believe what I'm seeing re RTM, just goes to show every DOG has their day,


If you havn't been following RTM for more than 2 years I suggest you go and do some homework,

They were one of the first to follow PDN into Nambia but due to their dodgy ramping etc Nambian Gov refused permits,

Made good money trading these Mongrels 2yrs back, becareful peeps this is as mangey and flea ridden as they come!

Yeh well while its a greyhound this ducks on it!

Looks like the Rabbits just run past it!!

Looks like the Rabbits just run past it!!

Nice trade tech.
What do you think of JMS?

Not trading it. So havent formed an opinion.
But has broken out on volume.
So would watch closely

From memory, so check it out:- In early 2005, RTM was getting all excited about a big uranium find in Namibia. The shares went up from 0.04 to 0.17. At about the same time, director Nikolaenko resigned ("other business commitments"). It subsequently turned out RTM didn't actually have a licence to explore for uranium, and the MME (ministry of mines and energy) wasn't about to give them one, but RTM hadn't told shareholders that when they were pumping the U find.

This report from Sep 2005 makes interesting reading, too: Australian police raid Reefton offices (http://www.namibian.com.na/2005/September/national/05D75616D7.html)

Now director Hemming has resigned ("pursue other interests") just as the share price shoots up on uranium prospects in WA.

I would think a lot more than twice before putting any money into RTM. But please, don't take my word for anything, do your own DD.

So nobody thinks that this company has any credence after the last few years worth of dodgy dealings?

Back then I thought this stock might be another Paladdin, and that is certainly where the releases were heading. I had bought into Paladdin at 11c (now over $8) so worth a look. It was very heavily ramped, not in this forum but in others.

Once 'burnt' always shy. This share was the baby of day traders I think, and the substance? Well, it has yet to be shown.

You may wish to be careful with this one. Lots of people tend to trade on this one, buying at .037 and selling at .45, you may not see it get past .45.

Up 16% to 5, 5 sellers going fast

So nobody thinks that this company has any credence after the last few years worth of dodgy dealings?

bob, any company operating in Africa has to do 'dodgy' dealings. I think something might be up with RTM, possibly they have 're-negotiated' the U leases. If so, then it might be game on again for the specs.

Taking out 5.1 now

Hmm im suprised by this one after the weak close yesterday.
Well done guys.

I am amazed by its sudden resurgence to be honest. I hope that they do have some good news in the pipeline.....

Can anyone comment on where they think this co is going now? The name change to Magna Mining NL seems to have had a very negative effect on the sp. What was the cause for the recent doubling in sp? There must be someone out there with an interest!

Can anyone comment on where they think this co is going now? The name change to Magna Mining NL seems to have had a very negative effect on the sp. What was the cause for the recent doubling in sp? There must be someone out there with an interest!

Stand by for news, the Board is meeting right now and I am waiting on a return call from the CEO to find out what is happening since the new board was appointed.

I don't know if I am qualified to comment where the company is going but the sp is going down hill.

This was may 1st ever purchase 2 weeks ago when I bought in on a recent high @4.8c .

A week later after 7 RED bars in a row I got the hint and bailed out @ 4.2c for a small loss.

From what I can see in the Oct report they have less than 3 Mil in bank, about 400K shares on issue.

Recently they got rid of 1 Director and hired 4 NEW directors from memory.
If they expand out of Namibia and into WA more money will be required for land and exploration NOT TO mention 4 new Directors sallaries will be drawn from the pool plus pressumably share bonuses for those gentlemen.

I will buy in one more time ( small position only) on the next retrace , whenever that may occur but guessing the bottom is a bit tricky.

Lets hope that once I am on it does emulate Paladin , Now wouldn't that be nice :)

Stand by for news, the Board is meeting right now and I am waiting on a return call from the CEO to find out what is happening since the new board was appointed.

Name change... new directors...looks promising....but what I would be asking them is if they have severed all ties with the Nikolaenko's.

will the existing shares in rtm rank pari passu with the new shares in magna or is there going to be a consolidation?

Lets hope that once I am on it does emulate Paladin , Now wouldn't that be nice :)

Yep, well, that was my strategy 2 years ago. All it did was lost me money. Reefton is no Paladdin!

I don't know if I am qualified to comment where the company is going but the sp is going down hill.

This was may 1st ever purchase 2 weeks ago when I bought in on a recent high @4.8c .

A week later after 7 RED bars in a row I got the hint and bailed out @ 4.2c for a small loss.

From what I can see in the Oct report they have less than 3 Mil in bank, about 400K shares on issue.

Recently they got rid of 1 Director and hired 4 NEW directors from memory.
If they expand out of Namibia and into WA more money will be required for land and exploration NOT TO mention 4 new Directors sallaries will be drawn from the pool plus pressumably share bonuses for those gentlemen.

I will buy in one more time ( small position only) on the next retrace , whenever that may occur but guessing the bottom is a bit tricky.

Lets hope that once I am on it does emulate Paladin , Now wouldn't that be nice :)sorry to hear of ur 1st time loss Rob..well i was going to buy in at the low 2cent mark but for some reason got sidetracked...my position is ill keep an eye on it and see what happens...thinking that when it ran abouve 4 cents it would surely retrace..lets see what happens with this company after the recent changes..goodluck

anyone seen the results which were published earlier? They are awaiting the JORC compliant resource estimates for the skeleton coast but otherwise look to be v low on funds...

Took a punt on RTM @3.5c on the strength of new blood on the board however all I have seen is a down and not a chirp from the new board on what they plan to do to turn things around,
The CEO wont return my calls!!
I figure I will have to exit if no news comes out of the board shortly and take a loss, it was a punt on spec and the market is voting with their feet,

Is there any news that I havent heard yet??

Took a punt on RTM @3.5c on the strength of new blood on the board however all I have seen is a down and not a chirp from the new board on what they plan to do to turn things around,
The CEO wont return my calls!!
I figure I will have to exit if no news comes out of the board shortly and take a loss, it was a punt on spec and the market is voting with their feet,

Is there any news that I havent heard yet??

I got stopped out at 3. 5 cents. This stock is showing no signs of going up and I can't see any buy signals at 3.5 cents. Not chance of me going back their, unless they report on somthing good and break and close above 5 cents. :confused: No even then I wouldn't risk again, "once slightly burn't twice shy"
regards
Ang

Having followed RTM 2-3yrs ago and since stayed well clear I have actually waded back into the RTM pond,

I give my reasons as follows,


1. Low Mkt Cap
RTM 365m shares on issue +25m unlisted 2c opies + 270m 10c opies

@ 3c Mkt Cap = Under $12m

2. Projects
Tanzania
Waiting on grab samples, I reckon these will be out very shortly and will rocket RTM

Compare its Peers and their Mkt Caps operating in the area, WMT, UNX, I know both are far more advanced than RTM, but its the spec appeal, RTM could easily follow WMT's path over the course of a heavily traded week

Badja
A uranium target in W.A. where airborne radiometric surveys outlined a 30km long by 2km wide = 60km2 Palaeochannel

VHM Nambia
They're awaiting a JORC for there heavy mineral sands project as well and this should come out very shortly, they completed over 672 holes over a very large area so the resource could be quite large


3. Summary

I espect grab sample results from Tanzania which if good enough should launch RTM into orbit,

I also expect a JORC on HMS project very soon,

Cheers

Question Young Trader ?

Since this was my 1st trade and my 1st loss I still have it on my watch list.
(I quess I'll always remember it going forward :)

At the moment they have about 2Mil left in the bank.

4 New directors salaries to come out of the pot, exploration costs, consultancies costs etc....

I am assuming the only way forward for them is to issue yet more shares.
Current price 3c ... What is your view on where they will get more cash to continue and at what price will they issue.

Nice call on HLX by the way .

Regards
Rob

Hi Rob,

Re Cash balance situation, your looking 3-6months out


Im looking Now - 1 month out, where I think if the Tanzanian grab samples are positive ie U = 1% etc then RTM will have a huge spec trading session which may lead it to follow WMT a fellow 2-3c U player who had a 42.5% interest in Tanzania U projects and was rocketed into stardom by grab and surface samples, by the RTM has 100% interest

That as well as the expected JORC for their HMS project will provide plenty of spec flavour for me over the next month,

So its a short term highly spec play for me thats it

Cheers

Hi guys,

Can a techie please take a look at RTM and answer the following

I see support at 3c that was established on 28th Nov 06 and recently

I also see a descending line that started on the 9th Jan 07 around 5c and has continued to act as a descending resistance level,

So I see a descending triangle which should finish in a few days,

What happens/is likely to happen over the next few days if/when the triangle ends? ? ? ?

Thanks in advance techies :)

270m 10c opies

@ 3c Mkt Cap = Under $12m


YT: I lost tracking on the horrible 10c options. I knew it started in 2004 with something less than 100m. How it has grown into a monster amount? Very interesting.

Any comments on todays news from the company?? Support at 3c yes, I wonder when the JORC results are out??

Hi guys,

Can a techie please take a look at RTM and answer the following

I see support at 3c that was established on 28th Nov 06 and recently

I also see a descending line that started on the 9th Jan 07 around 5c and has continued to act as a descending resistance level,

So I see a descending triangle which should finish in a few days,

What happens/is likely to happen over the next few days if/when the triangle ends? ? ? ?

Thanks in advance techies :)

Any techies care to help re my above question on descending triangle?

Also forget JORC re HMS, its good Tanzanian Uranium surface grab samples that RTM needs for it to follow WMT

Techies this descending triangle finishes tomorrow,
Can on of you please have a look and tell me what is most likely to happen,
See qu below for reference

Thanks in advance

Hi guys,

Can a techie please take a look at RTM and answer the following

I see support at 3c that was established on 28th Nov 06 and recently

I also see a descending line that started on the 9th Jan 07 around 5c and has continued to act as a descending resistance level,

So I see a descending triangle which should finish in a few days,

What happens/is likely to happen over the next few days if/when the triangle ends? ? ? ?

Thanks in advance techies :)

Techies this descending triangle finishes tomorrow,
Can on of you please have a look and tell me what is most likely to happen,
See qu below for reference

Thanks in advance
Chart posted showing upto 30mins ago. RTM needs a close above 3.2c to remain positive short term. Volume has been low so I would be looking for the increasing volume levels to determine this over the next day or two.
Ideally you want RTM above the green line this would re-establish the trend movement.
The sell down to 3.2c was quick and over sold, so the stochastic is moving back to the 40 point if this holds, as well as the MACD cross then RTM should run, otherwise it may stay flat or slide a little(2.8c/2.4c).
A plus is it's a fairly vertical sell down, likely to come back and has also been low volume, the volume will signal the movement. :)

Possible gap up on the open tomorrow

Only an opinion, don't hold. Good Luck :)

Techies this descending triangle finishes tomorrow,
Can on of you please have a look and tell me what is most likely to happen,
See qu below for reference

Thanks in advance

What i see YT is a three wave corrective move down to stop at support. It could be consolidating in a ledge pattern now. Volume has dropped off so theres not allot of sellers left by now IMO.

I think that .03 support is critical.

Cheers,

Got excited as I thought it was Tanzanian U sampling results,

Its just the JORC for their Heavy Mineral Sands project

Total JORC is 130Mt@ 6.5% THM + 2.4% Slimes what the heck is that worth?

Techies this descending triangle finishes tomorrow,
Can on of you please have a look and tell me what is most likely to happen,
See qu below for reference

Thanks in advance


Whats funny is the descending Triangle I saw did finish today and it looks like it was predicting an ann :eek7: lol

THOSE SNEAKING SOB's!!!!!!!!!!!!!!!!!


At the end of the 4 page ann you'll find the following,

"With an initial review of the Liwale property in Tanzania now complete, the Board of Directors
considers that the project does not meet its selection criteria and has elected not to pursue the
opportunity. The owners of the licence have been advised that the farm-in agreement is
terminated."


Would have thought that would warrant its own ann,

I'm out for a wee profit

I'm out for a wee profit
Don't tell us you only made $160... But do appreciate you have informed us.

Don't tell us you only made $160... But do appreciate you have informed us.

Something like that, may cover some of tonights Valentines Day dinner if I'm lucky :rolleyes: lol


But yeah as I was waiting for Tanzanian U results, but the dodgey way in which they have "told us" they are withdrawing from the project just confirms to me why 2 years ago I realised it was a dog and promised to never come back

Well RTM like NWT I'll never come back to you, so goodbye forever!

Well I guess the name change to MAN hasn't inspired the market.
Down to 2.8c ...soon it may become worthless :)

Aren't stop losses a wonderful thing ... I bailed at 4.2 from a 4.8 entry.

Maybe I should break my trading rules and jump back in now seeing they are so CHEAP now ?

I am continually reading things in this forum which confound me :confused: :confused:

People buy at a certain price... it goes down ... they are overjoyed because now they can TOP UP ahead of the market realizing the error of its ways and before it skyrockets to the price they anticipated.

Maybe there is something in that logic and I should jump back in before it is to late ???

Rob

Well I guess the name change to MAN hasn't inspired the market.
Down to 2.8c ...soon it may become worthless :)

Aren't stop losses a wonderful thing ... I bailed at 4.2 from a 4.8 entry.

Maybe I should break my trading rules and jump back in now seeing they are so CHEAP now ?

I am continually reading things in this forum which confound me :confused: :confused:

People buy at a certain price... it goes down ... they are overjoyed because now they can TOP UP ahead of the market realizing the error of its ways and before it skyrockets to the price they anticipated.

Maybe there is something in that logic and I should jump back in before it is to late ???

Rob

Unless you have some true fundemental knowledge in a share, adding to a losing position does not usually yeild profit. Thats why even the best fundies could benefit from some chart analysis, to determine the best spots to re enter again.

Cheers,

So whats going on, apart from the sp drop?? :banghead:

So whats going on, apart from the sp drop?? :banghead:
Did you not see the new issue announcement?

Placement of 50,000,000 Ordinary Shares at $0.028 each with a free attaching Option (exercisable on or before 30 November 2009 at $0.10 cents each). The placement was approved by Shareholders at the 2006 AGM of the Company. The purpose of the issue will be to fund the Company’s ongoing working capital requirements of its existing projects, fund the evaluation and acquisition of new opportunities and to fund the corporate and administrative activities of the Company (including meeting the costs of the issue)

So its doomed then?