RSN - Renison Consolidated Mines

[Odduna]

Does anyone know if the RSN trading halt today is for the capital raising for the Ashford Coking Coal project?

I know that the stock has increased from 8 cents to 23 cents in the last two months. With volumes increasing from around 400,000 to 1,000,000 plus (with a high of 10,000,000 last week before the announcement)

I know that RSN announced a coal discovery last week. Appears trading halt is too soon for the new coal discovery unless not all information was released to the company.

I have sort of dicounted the gold assets as they have debt facilities for these.

[TheProphet]

Gday champ
Trading halt is initiated purely because there is information known to the company that the public doesnt. I dont think anyone would know why it has occured.
But what I must say is that this stock looks hot to trot with the recent coal discovery.

Cheers

[Odduna]

Hope it is hot to trot. The new coal find released last week is the one to watch as RSN has 100% stake in it, and i am banking on it doing well.

However, i am not discounting the Ashford Coking Coal find. According to company releases, full results of the drills to be completed by end of year. if it is good news, the listed NEC will move more than RSN, as NEC will end up with about 75% of the find due to finance arrangments. NEC has risen over 20 cents to 56 cents a share in the last couple of months.

Hopefully the trading halt for RSN is good news (according to release, its about capital raising) so i hope it wont affect the :2twocents i want to make from stock.

[KaiserBun]

RSN appears ready to take off with the news coming out of the company. I must admit i have only recently bought in, but with their Tom Gully gold project starting up and the initial find in the ashford coking coal being upgraded from internal results, as well as the start of more testing with their new coal discovery, my fingers are crossed. I am sure that i also did read that they are looking at applying for a mining permit for between the two finds. Is anyone else out there as bullish as i am on this stock?

[silent knight]

Yes. Its been a good solid run since the start of July without any hype and before the good news of the separate coal find. The latest upgrade of the Ashford resources helps as RSN has a percentage of NEC as well as the percent of the coal at Ashford. Note that Tom's Gully is not finalised yet but I felt that a lot of the buying was insider trading in regard to Tom's Gully and backed my guess.
So far so good.

[KaiserBun]

With 11 million shares trading the day before an announcement, i wouldn't be surprised if there was info leaking out of company.

Although i do wonder if anyone out there has seen a broker report on RSN.

Personally, i am going to sit on the stock for 3 to 4 months at least, with drilling results coming out until the end of the calender year, stock should continue to move slowly in an upwards trend.

Note: this is just a guess, any charters out there who want to do the work for me? :)

[Odduna]

Just in case any of you are interested, a broker buddy i have in QLD has told me that the next set of results of the drilling at ashford to be released next week by NEC. Hopefully some good news will come along to help bump the rsn prices up further, well here's hoping.

[KaiserBun]

I thought the next drilling results for Ashford wont be coming out until they have started the second phase of drilling late october, early november.

Are there other drill results from the first stage that hasnt been released?

[The Bookeeper]

Has RSN run its race? Or is this lull before the rally???

Those who bought in around a week a go for 28 cents a share must be :banghead: since its dropped to 21.5 cents.

[KaiserBun]

Has RSN run its race? Or is this lull before the rally???

Those who bought in around a week a go for 28 cents a share must be :banghead: since its dropped to 21.5 cents.


I was hoping it would drop to at least 20 cents so i could buy some more. Although market closed at 23 cents at end of trade on Friday.

RSN should start moving after the end of October 2005 with drilling reports from both coal finds coming out on a regular basis til the end of calender year.

Only problem with this stock is the number of shares it has on issue. Whatever find they have, they will need more capital raisings to get into income production. Just hope they dont become like a company such as Lakes Oil, 1 billion shares on issue with no value!

[Odduna]

Bit worried about the lack of buyers for RSN at the moment. I hope the company comes out with some good news when the drilling starts

[KaiserBun]

Well,got my RSN annual report in the mail the other day.

Reading through it, i still have some concerns about the Tom's Gully project.
Total cost to get Gold out of ground is expected to be $440/oz.

Costs seem high,but unable to confirm. Has anyone got some stats or a website that shows an industry average for total cost to pull out gold from undergound mine complex?

I guess i will be waiting for the news coming from their coal mine to get $ increase in my investment.

[Odduna]

I have decided that this stock blows.

[KaiserBun]

Do you still hold any RSN Oddball??? If so, i wouldn't mind taking them off your hands.

Trading volume is increasing again as the drilling program has commenced.
With the drilling program comes announcements. i am willing to back this little stock.

Although i would hope that they call on their partly paid shares for any further funds needed to get these projects off the ground.

Isnt it great to see Adelaide back on top of the A-league.

[silent knight]

You will have seen todays announcement. With gold at approx $AUD 670, seems a reasonable profit margin.

[Odduna]

Rumors on other stock sites saying that there are bad drilling results to be announced by company.

Glad i got out

[silent knight]

Rumours are interesting things. They fulfill many purposes only one of which is to supply information. No insider selling spikes yet which would have been more to the point. :)

[silent knight]

Well the rumour was partially right... there is a report today. The rest of the rumour, not surprisingly for rumours, is out by 180 degrees. The report makes good reading and suggests to me that, like other rumours, the one mentioned above may have been purposefully planted. :(

[KaiserBun]

Well i am still bullish on the stock.

Once the cash flow starts coming in from Tom Gully, the price will rise for two reasons: firstly, the company will finally have some income, and B less likely to capital raise.

[Odduna]

Well i am still bullish on the stock.

Once the cash flow starts coming in from Tom Gully, the price will rise for two reasons: firstly, the company will finally have some income, and B less likely to capital raise.

March is a long way away. Plenty could happen to the gold price.
Still don't think this is the best jun gold miner you can get.

Plus with almost $24 million in losses (carried forward), i reckon it will keep going that way for years to come.

This stock still blows.

[silent knight]

Lots of things "blow". Somethings that blow are good, like whales and oil wells. Others such as cows and poor information require caution.
For example the post above talks of accumulated losses as though these had to be repaid before a profit will be made. This is not right. At 30th June RSN had total liabilities of $6M and total assets of $16M giving a net asset situation of $10M. Over the past years RSN has spent (accumulated losses) $24M but has raised $34M giving a Total Equity, as you would expect, equal to the Net Assets of $10M. The $24M that is referred to is money that has been spent and paid for. Its relevance is now only positive in that the company has an unbooked future income tax benefit of $7.5M (see note 4 to Annual report)

[PennyHopeful]

For the sake of my portfolio i hope you are right kaiserbun. I got in relatively early on this stock. Just hope it gains momentum again in the next few months with some positive announcements and the issuing of additional shares for capital raising can be avoided. Fingers crossed!

[KaiserBun]

For the sake of my portfolio i hope you are right kaiserbun. I got in relatively early on this stock. Just hope it gains momentum again in the next few months with some positive announcements and the issuing of additional shares for capital raising can be avoided. Fingers crossed!

I hope i am right too! Unfort i got my stock in the mid teens so only aroun a 50% return so far (paper of course).

I was dancing around when it hit 28 cents a while back.

Although that said, disappointed with todays result, but looking mid to long term. If gold can hold onto its current level, more interest will come into stock when its starts production.

[silent knight]

If you are following on a day to day basis, you would like today's announcement. :) However I believe the real money to be made out of this company will be at the change to producer or even in the very long term when it also becomes a coal producer. Now is a period of consolidation where sometimes someone will need to sell out a bundle for lots of reasons (having made a nice profit) and the price will drop, while others will be quietly gathering stock but know they can get the stock they want, at the present price. I don't expect much price fluctuation for some time. ;)

[PennyHopeful]

in the tradition of many of the comments in the media re the issues in cronulla i will avoid the hard hitting issues and say.... "go rsn go"...

[KaiserBun]

I love this company so much.....
Drilling commenced at both coal finds.
Studies to be done next year (late to early 2007)
Gold mine coming online in March.
Possibly another one in 2007

Once they start getting these finds into production, prospecting time again!

[KaiserBun]

Ahh, up 1.5 cents on Tuesday, up 2 cents today, now trading at 27.5 cents, do we have any takers for a rise of 2.5 cents to make it 30 cents????

[silent knight]

Done! :)

[KaiserBun]

Done! :)

4th-January-2006 08:29 PM
KaiserBun Ahh, up 1.5 cents on Tuesday, up 2 cents today, now trading at 27.5 cents, do we have any takers for a rise of 2.5 cents to make it 30 cents????

It took too long :)

With massive volume increase and a jump from around 22 cents to 31 cents within a week, could there be a report from one of the sites that is about to be released?

I think it is too early for the increase in price due to increase in gold price. March is a long time off for Tom Gully.

[Odduna]

I can't believe this stock is moving.

[KaiserBun]

Another 1 cent rise today to 32 cents per share and a response to the ASX speeding ticket.

I wonder how high it will go once they make announcments (if they are good ones)

[KaiserBun]

Results of first 18 holes of the 140 hole drill program announced today for their Agate Creek project.

Company has indicated that probable reserves to be increased by end of drill program.

Can this company do any wrong??

[Odduna]

I read the announcement by the company and only see that it was a poor drill result.

they have given an excuse of bad drill reports by saying they didnt have right drill equipment.

the hype on this stock will die down and it will go back to its true position.... liquidation

[silent knight]

It is amazing that people reading reports often find a new report supports what they believed before. ;) (Of course it helps if they know very little about the company) I must admit I found RSN's report on Agate Creek encouraging, but then I am happy with my investment in RSN. :)
I would normally be a little surprised that the price has moved upwards so quickly but not in the present context where goldbugs are raging bulls. (a mixed metaphor, I know). When you look at the money being spent on gold explorers who have not reached feasibility level, then the price of RSN which will start producing gold in March from their Tom's Gully mine is understandable.

[Odduna]

Ahhh wont be long before shareholders in rsn will be doing this :banghead:

[silent knight]

Maybe, but possibly not for the reason implied. :p:

http://www.321gold.com/editorials/gerbino/gerbino012306.html

[KaiserBun]

Maybe, but possibly not for the reason implied. :p:

http://www.321gold.com/editorials/gerbino/gerbino012306.html

Thanks for link to the article.

Hopefully more people will realise how good this company is... although, as an 'insider' (using article terminology) i would prefer to see it at the $2+ mark than the 30 cent mark before i sell :)

Do you think RSN will slowly sell its stake in RSN (as per January 2005 news articles - yes i know a year old) to pay for the future mines at Agate and Ashford?

PS Yes, i am expecting Agate to get the all clear.

[silent knight]

I don't know the article you refer to. If you have a reference I would appreciate it. :)
I look on RSN as a long term investment provided they keep developing resources. There are a lot of shares in the company (315M cf IGO which has 110M) and this may keep a lid on the price. Of course $2 would be nice, but if I had $2 at present there are shares of more value that I would be spending it on. Still I feel the resources boom will last for a goodly while yet, so there is always hope.
I don't know how they expect to pay for the development of the new mines, whether from cash flow from the Tom's Gully mine, in some creative way such as with Tom's Gully or from further shares. Personally I prefer there not be purther shares but the money has to be raised some how.
The psychology of excitement at different times during a company's development that was referred to in the article I listed, was today shown to me by AOE. Its price has been dropping for two months even though the startup of gas delivery was imminent. Even with the announcement of gas into the pipelines, the reaction has been muted.

[Odduna]

A little song for RSN shareholders.....

I'm on my way from happiness to misery today
I'm on my way from happiness to misery today
I'm on my way to what I don't want from this world
And years from now i'll wonder how to make it to the next world
And everything has been cause by this big blunder
Its all because iof this friken miner.....

I took a wrong, I took a wrong turn yesterday
I took a wrong, I took a wrong turn yesterday (yeah yeah yeah yeah)
I took the road that brought me to this stock code
I took the bus to streets that I could walk down
I walk the streets to find the money from some punters.....

And now that I don't want to start again
I'd have Al Jolson sing "I'm starting from the beginning again"

I'll do my best, I'll do my best to do the best I can
I'll do my best, I'll do my best to do the best I can
To keep my feet from jumping from the cliff here
To keep my heart from jumping through my mouth dear
To keep the past, the past and not the present
To try and learn when you (RSN) teach me a lesson

And now that I don't want to start again
I'd have Al Jolson sing "I'm starting from the beginning again".

Sung to The Proclaimers - I'm On My Way

Keep on blowing RSN

[silent knight]

I will tremble in my boots. I will lie awake in nervous panic. Never have I seen an equity so comprehensively and thoroughly dissected in a post! And to think that I have some RSN. Oh woe is me!

[KaiserBun]

RSN will propser.

The stock has a lot of potential, and with a management team that has been able to deliver the goods in the past, good times have just begun.

[Odduna]

Going down :) :) :) :)

Although i will admit its only going down in line with the reduction in gold prices.

i see that a chartist from investorweb believes RSN will be bullish after it break through the 45cent barrier.

[Odduna]

Does anyone out there still hold shares in RSN????

I see that they have had an increase in their gold reserves at their Tom Gully mine.

Does anyone think this stock is overvalued?

[tekram]

:rolleyes: Hi, I have had this stock on my watch list for some time. My people tell me this one is good the next 30-120 days should please all stock holders, if the coal ore body is as good as my associates say, then you will all have something to smile about. The stock is good buying.

[KaiserBun]

:rolleyes: Hi, I have had this stock on my watch list for some time. My people tell me this one is good the next 30-120 days should please all stock holders, if the coal ore body is as good as my associates say, then you will all have something to smile about. The stock is good buying.

I wonder if we have the same associates :)
The first drill report released for Arrawatta indicates and ore bdy bigger than Ashford. And as Ashofrd is already 14mt (JORC) and expected to rise, let the good times come!

Ps. I only hold a small parcel in the stock, i was lucky enough to get into when it was mid teens.

[KaiserBun]

I love trading halts with this company, usually means good news!

[Odduna]

I love trading halts with this company, usually means good news!

you must be disappointed with yet another capital raising by the company.
seems they have as many capital raisings then drill reports these days.

[KaiserBun]

you must be disappointed with yet another capital raising by the company.
seems they have as many capital raisings then drill reports these days.

Although i wasn't expectin another capital raising, how they are doing it, and what they are doing it for will give a nice short term lift before the coal announcements are made.

from a close at 27.5 cents on friday, stock is now up to 31 cents.

[silent knight]

This capital raising was different and very good news in my opinion. If you have been reading about the deleterious effects of gold hedging on the profitability of minig companies, then you would be happy to have stock in a company trying to minimize hedging. See for example
http://www.321gold.com/editorials/schwensen/schwensen032806.html
or read the chairmans report from PSV in early march. :)

[pancho]

Hi anyone interested in RSN looking like might go for a run?

[surelle]

hey pancho
try "RSN - Renison Consolidated Mines" thread in search area of Stocks Q-Z

[KaiserBun]

Hi anyone interested in RSN looking like might go for a run?

Well, 36 cents is a barrier for the stock.

I believe it will pass this barrier once the coal announcements are made.

Has had a good run since trading halt, from 27 cents to 34 cents.

[The Bookeeper]

:rolleyes: (4 March) Hi, I have had this stock on my watch list for some time. My people tell me this one is good the next 30-120 days should please all stock holders, if the coal ore body is as good as my associates say, then you will all have something to smile about. The stock is good buying.

:)

I hope this is true

[Odduna]

Big drop today.

Is it just in line with gold dropping last few days?

or has there been a leak of information out of the company about drill results?

[KaiserBun]

Only 68% of the recent convert notes allocation taken up....... not a good sign

[silent knight]

Probably not bad in present market where you could buy down to 26c. I got in early and took mine up. If I'd waited a few days I may have bought ordinary shares instead. Still, the money is raised and that means no hedging. Gold looks set for a run so, even in the situatuation of a sharemarket meltdown precipitated by the very poor US economic conditions, the long term outlook for holders of commodity miners should be solid... though our nerves may be tested in the short term. :)

[Odduna]

Well, just got back into stock.
With an increase of resources to 18 million tonnes at Ashford,
first gold mine online.
good times will start to come now.

i don't think this stock blows anymore

as i have interest in it, i guess i should ramp this stock up : )

[silent knight]

Good luck. Let's hope it does well for holders. I'm personally not expecting much actual return in the short term. I guess that a lot of the gold profits will be put back into further development, but that should make it a reasonable growth prospect. :)

[Odduna]

Nice little announcement about the gold.
still think its going to be the coal assets that will make this company

[KaiserBun]

Not much talk in forum about this stock for a while.
Its had a few very good annoucments recently.

First gold bar poured at its NT gold mine.
North Queensland gold propsect looking good after recent drill results.
And good reports coming from its NSW coal assets.

Pity that share price is not reflecting current news.

Does anyone see this as a long term propect?

[silent knight]

You know my opinion. It hasn't changed. The coal announcement today was welcome but sp is not likely to get exciting for some time. Most junior miners are off their highs from some time ago even though gold is doing well. There is one line of thought that I find reasonable which places commodities in a correction, but near the bottom of that correction. I intend being patient and maybe even accumulating a bit, but then that is my pattern. RSN would not suit an aggressive trader at present...thank goodness. :)

[The Bookeeper]

You know my opinion. It hasn't changed. The coal announcement today was welcome but sp is not likely to get exciting for some time. Most junior miners are off their highs from some time ago even though gold is doing well. There is one line of thought that I find reasonable which places commodities in a correction, but near the bottom of that correction. I intend being patient and maybe even accumulating a bit, but then that is my pattern. RSN would not suit an aggressive trader at present...thank goodness. :)

I'm with you on this s knight. RSN is quietly building up to be a mid tier miner. So still enough time to get more exposure for us :)

Its good to see first gold mine in production now, meaning cash flow, and hopefully less capital raisings.

Cash will come in handy considering that RSN have two bank feasability studies going on at the moment - Ashford Coking Coal and Argate (North QLD) gold mine prospects.

And this is not to mention the encouraging signs from the coal finds at Arrawatta.

Could RSN and NEC have found the new Hunter Valley???
Hope so, and if so, Yippeee!

[KaiserBun]

More good news coming out of RSN.
Cant wait for the stock to start moving in a northern direction.
Guess people are waiting to see cash flow statement for the quarter.

[KaiserBun]

They announce they have greater Gold resources at their Agate Creek (North QLD) prospect - no movement.

They announce an increase in Gold resources at their operating under ground Tom Gully mine (NT) - no movement!

They announce that they will increase production by 10,000 ounces per year and mine life for Tom Gully mine - no movement!

What do they need to do to get this stock moving???

And this is just the gold side!

GCL have admitted to be looking at further expansion of coal assets, through exploration and acquistions outside their current permit areas..... RSN and NEC are just up the road, and they have a find almost equal to current resources for the company, with massive potenital........ maybe i making a worng connection, (although i think NEC would fir better with GCL) but it would appear to make sense to have coal assets within same time zone within a similar area! Arrrggg!!!!!! I guess i am thinking to highly of this company.

[Odduna]

Had cash flow from sales ($700,000)good
Resource upgrades during quarter good

Production rate slower than expected bad
Recovery rate at 55% rather than 84% bad
Difficulty finding experienced staff bad
Further capital raisings bad

Overall, activities for quarter disappointing, and market has appropriatly punished.

However, for the coming quarter they expect:

To triple output for gold good
Further drilling results at both gold mines as well as coal discoveries good
Increased recovery rates good

If they come through, should result in positive action for share price.
Looks like a long term hold for this stock.

[The Bookeeper]

Had cash flow from sales ($700,000)good
Resource upgrades during quarter good

Production rate slower than expected bad
Recovery rate at 55% rather than 84% bad
Difficulty finding experienced staff bad
Further capital raisings bad

Overall, activities for quarter disappointing, and market has appropriatly punished.

However, for the coming quarter they expect:

To triple output for gold good
Further drilling results at both gold mines as well as coal discoveries good
Increased recovery rates good

If they come through, should result in positive action for share price.
Looks like a long term hold for this stock.

Not a bad analysis of the situation Odduna.

I believe the two major points that spooked the market were:

* the lower production rate; and
* recovery rate at 55%

The recovery rate at 55% will be looked after by the fully commissioned processing plant which only occurred in late September, therefore, really a non-issue now.

However, one must remember that Gold stocks are not the flavour of the month.

Going to start trawling through the old annoucnments to see when the drilling program will recommence at Tom Gully's and Agate.

IMHO, i want the drilling to commence at Tom Gully's.
Increase of resources at site will allow another reavaluation of mine life and production level which would please market (only of course its good drilling results).

[KaiserBun]

Not a bad analysis of the situation Odduna.

I believe the two major points that spooked the market were:

* the lower production rate; and
* recovery rate at 55%

The recovery rate at 55% will be looked after by the fully commissioned processing plant which only occurred in late September, therefore, really a non-issue now.

However, one must remember that Gold stocks are not the flavour of the month.

Going to start trawling through the old annoucnments to see when the drilling program will recommence at Tom Gully's and Agate.

IMHO, i want the drilling to commence at Tom Gully's.
Increase of resources at site will allow another reavaluation of mine life and production level which would please market (only of course its good drilling results).

Not sure if you checked out the announcement made on 27.11.06
Chris Rawlings heading off.... pity to see him go.
Companying is doing an assessment on all operations????
It really only has 4!

I am hoping nothing is wrong, but has got me spoked that maybe 2nd gold mine may not go ahead??

On the brighter side is that they are inserecting more gold at Tom Gully's than estimated and that processing plant is gearing up.

Hope the operations are still all good for RSN and that SP starts moving north.

[Odduna]

Not sure if you checked out the announcement made on 27.11.06
Chris Rawlings heading off.... pity to see him go.
Companying is doing an assessment on all operations????
It really only has 4!

I am hoping nothing is wrong, but has got me spoked that maybe 2nd gold mine may not go ahead??

On the brighter side is that they are inserecting more gold at Tom Gully's than estimated and that processing plant is gearing up.

Hope the operations are still all good for RSN and that SP starts moving north.

Hey there Kaiser,

Yup have checked out annoucement.

It will be interesting to find out why Chris left RSN.

I dont think it would be the failure on their promise to markets for the past couple of years that they will be a producer of 120,000 ounces of gold within the next 2 years, its being going for a long time the 2 years!

I'm not really worried about the company checking out its operations, its a smart thing to do. They maybe able to find ways of bringing the projects online quicker and cheaper, never know.

The Tom Gully news, was interesting to read, good to hear they are intersecting more gold than they used for estimate used for JORC.
Processing plant increasing recoveries is good, but would have preferred to see some cold hard stats: update n gold processed and recovery rates rather than the general statement.

Not sure which way SP will go, hoping it will go up, but will only do so with positive news from production as well as drilling results.

[Nifty49]

You sure it was Chris who left?????

Substantial Shareholder and MD Richard Seville resigned.

RSN needed a shakeup!

[Odduna]

You sure it was Chris who left?????

Substantial Shareholder and MD Richard Seville resigned.

RSN needed a shakeup!


Opps, you right Nifty, sure buggered that one up.
Richard Seville has left, Chris is stepping into MD role at the time.

Looking at the Trading Halt announcement, Richard has resigned as he has taken reponsibility for the cost over runs and delays in full production at Tom Gully..... (recovery rates up to 80% now and almost fully staffed)

Considering the trading halt is for capital raising, and that capital raising was announced a few days after Richard resigned, could it be a case that Richard (being one of the larger shareholders) fell out with board in relation to this new capital raising????

Maybe he is disgruntle, like i am, as yet another capital raising dilutes my shareholding.

[The Bookeeper]

I know where you are coming from Odduna.
i am very :mad: at this latest capital raising by RSN.

They raised $4 million in October, why do they need another $7 million in less than 2 months??? Where did the $4 million go :confused:

They sure seem to need a lot of cash for this rapid expansion.....

On another note, was interesting to read broker reports on RSN.
Glad they see it as a mid tier gold producer if the 2nd gold mine comes online.
They did give an expected value of up to 29 cents by Dec 2007, guess the new capital raising sure blows that out of the water....

One last thing, i hope the rumor on hotcopper is completly wrong, i don't want to see this company breaking up into 2, one for gold and one for coal..

I guess i can only pray for good news at the moment.....

[KaiserBun]

Well Bookeeper, i am keeping fingers and legs crossed for this one.

There hasn't been much joy this last few months:
shares tumbling from high 20's to mid teens
MD pushed
And a couple of capital raisings that have diluted investments.

However, looking forward:

Tom Gully's Gold Mine coming onto full production (10K ounces next Quarter)
Drilling at Agate Gold prospect recommencing in January 2007
Bank feasability study for Agate due around March 2007.

Ashford and Arrawatta Coking Coal propsects have further drilling planned for first half of 2007.

Also Comsec's (Aspect Huntley) provided these forcasts

2006 2007 2008 2009
EPS -3.4 -0.3 2.3 6.2

Although recent events have been bad, keep an eye on the prize, it appears company is moving in right direction. ie hopefully that will equate to an increase in share price.

Have a merry christmas, and lets hope 2007 is a better year for all.

[Odduna]

Well Bookeeper, i am keeping fingers and legs crossed for this one.

There hasn't been much joy this last few months:
shares tumbling from high 20's to mid teens
MD pushed
And a couple of capital raisings that have diluted investments.

However, looking forward:

Tom Gully's Gold Mine coming onto full production (10K ounces next Quarter)
Drilling at Agate Gold prospect recommencing in January 2007
Bank feasability study for Agate due around March 2007.

Ashford and Arrawatta Coking Coal propsects have further drilling planned for first half of 2007.

Also Comsec's (Aspect Huntley) provided these forcasts

2006 2007 2008 2009
EPS -3.4 -0.3 2.3 6.2

Although recent events have been bad, keep an eye on the prize, it appears company is moving in right direction. ie hopefully that will equate to an increase in share price.

Have a merry christmas, and lets hope 2007 is a better year for all.

Cash flow report out, company burning up a lot of cash.

Looks like the call on the partly paid shares means no capital raisings for this quarter :D to keep company a float. well i hope.

I feel sorry for those who bought in when stock in the 30 cent range, must be :banghead:

Dipping below 10 cents today, heavy trading. More bad news on the way?????

Wonder what performance agreement the execs have at the moment. MD gone for being 'too optomitic' with a mine that will be at least 9 to 12 months behind full production level.

Cash flow causing problems for the drilling other sites.

Just hope the sunshine comes back to the shares very soon.

[JWBH01]

Just paid the call on my options. Not happy doing this on a share going in the wrong direction, luckily I didn't pay much for these options.

Hopefully they will start heading in the right direction in the second quarter or soon after.

[KaiserBun]

Cash flow report out, company burning up a lot of cash.

Looks like the call on the partly paid shares means no capital raisings for this quarter to keep company a float. well i hope.

I feel sorry for those who bought in when stock in the 30 cent range, must be

Dipping below 10 cents today, heavy trading. More bad news on the way?????

Wonder what performance agreement the execs have at the moment. MD gone for being 'too optomitic' with a mine that will be at least 9 to 12 months behind full production level.

Cash flow causing problems for the drilling other sites.

Just hope the sunshine comes back to the shares very soon.


Yeah, i am worried about the cash burn at the moment too.

However, they did qualify their statement stating 'processed and sold' in their recent statement.
Maybe there is a bit of gold in final stages of processing before sale?????

A case of not putting any good spin at the moment to try and put blame fully on exited MD????

There seems to be a trend for the company to capital raise every quarter at the moment. So the partly paid share call is their capital raising for this quarter, maybe another one to come in March/April?????

Might contiue happening until Tom Gully full operational.....


Just paid the call on my options. Not happy doing this on a share going in the wrong direction, luckily I didn't pay much for these options.

Hopefully they will start heading in the right direction in the second quarter or soon after.

I dont see any happy days til the July Quarter commences. But i do hope i am wrong with this.

Hopefully, the long awaited FULL production of Tom Gully will be reached.

[JWBH01]

Can't go much further down so I might as well see what happens, but I will have to make a decision before the call is due next year.

[KaiserBun]

13 million shares traded????

Is there something happening that us poor mugs should know about?


Must admit nice to shares starting to head in a northerly direction.

[arkady]

What's the recommendation on this stock? 15 million shares traded in one day last week on the announcement of the Toms Gully sale agreement. Maybe they should of held onto it and watch the money finally come in.

[arkady]

Going by GBS Gold first quarter report they seem to be happy with the Tom's Gully Mine sale contract.

"The Company has received a draft NI 43-101 technical report confirming that Tom’s Gully has an indicated resource of 1,413,000 tonnes at 8.1g/t for 368,000 ounces of gold and an inferred resource of 563,000 tonnes at 7.6g/t for 137,000 ounces of gold. A final technical report will be filed on completion of the transaction. The Company has completed its due diligence review with satisfactory results, and the full sale and purchase agreement incorporating the due diligence results is now being finalized. The initial purchase price comprised the following installments (amounts shown in Australian Dollars):
• A$10 million in GBS Gold common shares payable on closing, being 3,046,315 shares;
• A$15 million payable 12 months after closing in cash or GBS Gold common shares at the prevailing market price, at GBS Gold’s election;
• A$20 million payable 18 months after closing in cash or GBS Gold common shares at the prevailing market price, at GBS Gold’s election; and
• Upon cumulative production of over 300,000oz of gold from the closing date, a 2% royalty on subsequent production. GBS Gold may purchase the royalty for A$7 million payable in cash or GBS common shares at the prevailing market price, at GBS Gold’s election."

[wipz]

Hi guys

Just wondering if anyone knows anything about this company and can give some information as to whether they are going to be doing anything substantial any time soon.. this stock has been falling for months now and looks like they have no cash...
Any potential here ??

Regards

Pete

[wipz]

Putting it out there, I was looking through some financials and saw that RSN are the main shareholder in Nothern Energy Corporation Ltd (NEC). NEC are involved in Coal exploration, but do hold some petroleum tenements in Qld and NSW. NEC shareprice has had a decent run lately and RSN has been performing poorly as usual.

[ta2693]

RSN sell out NEC on 03-04-07 Renison Consolidated Mines Ltd 18.01 --
RSN is no longer a shareholder of NEC.

[Motherlode]

Does anyone have any idea what Renison are so down and out? They are down to 2.5 cents. Its not so long ago they were at 30cents. Surely the value of their coal and gold assets should have risen with the rising commodity prices? They have approximately 28 million in receivables for the sale of their Tom's gully gold project due in.:banghead: Does anyone know anything about them?

[Georgeb]

this is definitely a cheap gold play...i like it as we have Bizzell as the man leading this company and he is a major shareholder...