RSG - Resolute Mining - Aussie Stock Forums

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  1. #1
    carpets's Avatar
    Join Date
    Dec 2005
    Central Coast NSW

    Default RSG - Resolute Mining

    Been following this stock after Fat Prophets recommended it at around $1.17, went to $1.40 today. Looking stronger: MACD showing possible buy signal and 15 day moving average has moved above 30 day. Ive drawn in a resistance trendline as also indicated by the fat prophets report.
    Anyone have any opinions, ideas on this stock?
    Attached Images

  2. #2

    Default Re: RSG - Resolute Mining

    high of 1.49 today, close at 1.44
    break above resistance

  3. #3

    Default Re: RSG - Resolute Mining

    Has anyone been in for the ride? Been holding since NOV last year, in at $1.17, watched it go to a high of $2.30 today. Unbelievable.
    One of the best performing GOLD stocks in my portfolio at the moment.

  4. #4
    Coal & Phosphate, thats it! michael_selway's Avatar
    Join Date
    Oct 2005

    Default Re: RSG - Resolute Mining

    Quote Originally Posted by carpets
    Has anyone been in for the ride? Been holding since NOV last year, in at $1.17, watched it go to a high of $2.30 today. Unbelievable.
    One of the best performing GOLD stocks in my portfolio at the moment.
    Yeah thsi stocks has a very low fwd PE

    Earnings and Dividends Forecast (cents per share)
    2005 2006 2007 2008
    EPS 6.5 1.0 17.2 36.8
    DPS -- 0.0 0.0 9.0

    EPS(c) PE Growth
    Year Ending 30-06-06 1.0 200.0 -84.5%
    Year Ending 30-06-07 17.2 11.6 1,620.0%

    However i read soemwhere that they have hedging costs problem affecting FY 2006 heres some quotes in late March 06, although not 100% sure what they mean

    "Management with their hedging policy are destrying this company! The next SOG's / Croesus if they don't wake up and see the light! As I said in the past, I had our Finance Manager look at their hedges at $500 and he told me to steer clear. At $550, its just that much worse!"

    "I agree PhillW, this whole b.s. of describing hedges as & of resource is hiding where the real problems emerge ie hedge as % of production.
    The throw out line that these loonies use, that they can "roll forward" the hedge, only creates a bigger problem for that forward delivery period ie they will have 2x the hedge liability in that period !

    In a rising market ANY & ALL hedges are toxic

    Unfortunately those co's already caught in the spider's web are at the mercy of everyone's mortal enemy - the banks !"

    "Gold approaching AUD$800 per ounce! These guys are fools! Sep 2005 hedge book was neg -$34M. Dec 2005 neg -$65M and now I calculate neg -$81M. Their costs are around AUD$500 and their average hedge is AUD$575. They have to pay $2M per quarter on Ravenswood plus interest on other debt. It would not take much for these guys to do a Croesus! Warning signs could be the drought effecting Golden Pride production. Now if Golden Pride was forced to cut back to 50% production, these guys are in real trouble! If you want their uranium buy VUL! Then again, these clowns willl probably hedge that too!

    A good stock ruined by managements inability to change with the times. And why do they hedge?? because that's the way we've always done it! How do we justify the hedges? We throw in the "Its a prudent and good business practice" line.

    These guys through their hedging are losing AUD$60M worth of cash flow or $42M in profit! sounds like they know what theyre doing, doesn't it! Two years of that and they would have funded Syama from cash on hand!!

    Fools, Fools Fools!!"

    "always easy in hindsight. i think that i have mentioned this in a previous post. eg - there would have been required hedging for eg - the purchase of the ravenswood operations. the alternative, would have been a share issue. it may well be that ravenswood could turn out to be a bargain, once mt wright comes on stream. the purchase price was US$45m, but A$50m had just been spent on a plant upgrade. in other words, rsg, got the ore, for a song - and there could be 2-3m oz there. the gold price is now us$150 higher, than when the purchase was made

    at least the company was a bit smarter, and purchased put options for 410,000 oz, at $620 per oz. this in effect underwrote the profitability of the mt wright development. lucky for rsg, they do not have to deliver into the put option, and the value of not having to deliver into this, is now worth an extra $75m. the company states that 285,000 oz , of forward sales, (at $600 per oz) can be rolled into the extended ravenswood production. as rotten as this is, it will be hoped that the production costs will be a lot less than this"
    A company is worth the PV of all future cashflows (forecast EPS) discounted for time and risk, nothing more or less.
    1/PE = ROI. Money in the bank is about 6% ROI or PE of 16, but risk free.
    Risk = high debt, commodity price sensitivity etc

  5. #5

    Smile Re: RSG - Resolute Mining

    Hi folks,

    RSG ..... fell off its perch last week and is
    retaking some of that ground today, but 19052006
    may see some more negativity for this stock.

    Key dates ahead for RSG may be:

    19052006 ..... negative ... finance-related???

    26-29052006 ..... significant and positive news???

    08062006 ..... positive spotlight on RSG ...

    13-15062006 ..... 2 cycles - significant and negative???

    happy days


  6. #6

    Default Re: RSG - Resolute Mining

    anyone watching RSG, the volume has picked up quite significantly the last 8 days may have bottomed. porkpie

  7. #7

    Default Re: RSG - Resolute Mining

    RSG up 9.6% this morning on good vol also good support, hav'nt bought yet but looking good. porkpie

  8. #8

    Default Re: RSG - Resolute Mining, breaking out !!

    I have been watching RSG since Apr 05 and have seen the highs ($2.45) and the lows ($1.245). I have been waiting for some kind of break out since the last low. I think we are seeing one now. This week could show some movement towards $1.65 and next week hopefully $1.80
    I will be jumping in tomorrow with a minimal trade till I have directional confirmation then add to my share volume.
    Do your own reasearch and I hope we can make up some much welcomed funds on RSG.

    Best Investing

  9. #9
    pacer's Avatar
    Join Date
    Mar 2006
    A pub in perth somewhere

    Default Re: RSG - Resolute Mining

    Well it looks like a breakout ....but ....is it?.....alot of company restructuring going on.....no real news, but is making an attempt to revitalise the SP....breakout?....we'lll find out soon enough....

  10. #10

    Default Re: RSG - Resolute Mining

    After late yesterday profit taking, some also this morning, RSG seems to be getting support in the low $1.50 range. If I can buy at that price i just may buy using CFDs. porkpie

  11. #11

    Default Re: RSG - Resolute Mining

    Yes a nice little break (from overall downward horizontal resistance and up from an ascending triangle)
    I bought in on 17th so in front now .. but am closely watching to see if it breaks up from current consolidation. I have a short term target of $1.75
    (pole on current consolidation matches resistance on 6/9/06)

  12. #12

    Default Re: RSG - Resolute Mining

    not looking good, buyers disappearing.

  13. #13

    Default Re: RSG - Resolute Mining

    breaking out with vol from ascending triangle

  14. #14

    Default Re: RSG - Resolute Mining

    Nicely formed ascending triangle with first target of 2.05
    Attached Images

  15. #15

    Default Re: RSG - Resolute Mining

    I like your asending triangle pictures but as Im new to thie stockmarket, could you please explain to me how you got your answer of $2.05?

    Ive been drawing up triangles too...but I dont know alot about the share market but very keen to learn.

    I'd be very happy if you could explain how you came to $2.05


  16. #16

    Default Re: RSG - Resolute Mining

    I hope it bounces off that $1.20ish mark!

  17. #17

    Default Re: RSG - Resolute Mining

    This looks set to go off (UP) today - indicators are good.

    Gap between buy and sell is reasonable. daily MACD about to cross. RSI on the way up. Trading well below the 80 day average.

  18. #18

    Default Re: RSG - Resolute Mining

    Lets hope so.
    Ive been holding since I bought at $1.71

    {Early days as an investor you see}

  19. #19

    Default Re: RSG - Resolute Mining

    Well not a bad effort for the day - I got one day right - let's hope I get another 4-5 days of upward movement out of my statement@!
    Attached Images

  20. #20

    Default Re: RSG - Resolute Mining

    Good surge still in progress with this one. It has a 'strong buy' recommendation in my NAB platform too. I wonder how much it will slow when it gets back up to the 80 day EMA?

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