I don't think there a thread for this one.
2.3c, UP 76.923%
No recent news.
I don't think there a thread for this one.
2.3c, UP 76.923%
No recent news.
According to a recent announcement RSL directors were in Mali in November having talks with the government about the transfer of uranium tenements to RSL. Could be the reason for the increase today.
Apologies everyone that should be Malawi not Mali.
I am only human and sometimes I have been known to make mistakes.
Just ask my wife she let's everyone know when I have slipped up.
RSL flew up 54% today.
A Uranium tenement is to hopefully be granted to RSL and its neighbour is Paladin (PDN)
This one does look very interesting indeed, may have flown under the radar for a while, but not for much longer if this malawi deal comes off.
From reading the info, no reason to believe that it wont.
And you gotta like the fact that the tenement is right next door to Paladin.
I'll be watching with interest and may even take a little dip. Id expect a please explain from the asx very shortly, which may provide some more clues here.
Any thoughts on why RSL rose so much over the past couple of days, and why the trading volume was so high (400m-odd shares yesterday and 80m-odd the day before, with only 336m or so shares issued). I noted that Sydney Morning Herald has a short write-up; but mistook this compnay for a menswear retailer. Is it that the market is catching on to the fact this is now a Uranium explorer?
I'm a pom (not the whinging kind), and invested quite heavily in Red Rock Resources (RRR.L) which has a sizeable stake in this company. RRR also has interests in Iron at Mount Alfred (same sort of area as some of the U prospects for RSL) and Manganese in Oz and Zambia. I am also in Regency Mines (RGM.L) which has a stake in RRR and in a Ni project in Papua New Guinea amongst other things.
Do you guys invest in UK listed mining stocks?
Last edited by kiwiseven; 6th-December-2007 at 09:44 AM. Reason: spello, extra detail
I bought into RSL on the hype yesterday. The initial hype was brought on by the wrong rumor that RSL (via RRR.L) had a lease close to PDN's - who are a new U-producer with it's main asset in Namibia, but they have a deposit in Malawi. This rumor is wrong as the lease in question is 300kms distant from PDN's.
Daytraders expected great things from today's AGM, but it simply confirmed that they were progressing and that the leases taken over from RRR.L still needed approval of various Malawi government departments, and it hasn't happened yet.
I've just had a look at the buying and selling and the sp is moving up again - hope springs eternal in daytraders' hearts!
Still I'll hold as it may be a good opportunity to get in on the ground floor.
Do your own research, please.
I don't hold any companies except ASX listed ones (or those that are listed on other exchanges as well), but I'm sure some ppl here buy internationally. I would appreciate a tip about a good U.K. share forum, as my daughter lives in Britain, and I keep telling her to buy stocks.
What do you guys think the share price will get to? This is the first share ive purchased - which was due to the thread saying it was next door to PDN. I was going to purchase MEO yesterday instead - bugger i didn't.
Payed 32 c yesterday for this one - should i accept my losses and go to MEO now after they just increaded 20%?
Welcome to ASF
This is a forum for discussion and interpretation rather than 'advice' and unsubstantiated claims such as you might find on other forums.
I think you will find that no one will offer recommendations, and indeed they shouldnt really unless they are a financial planner.
My tip: do research and dont get sucked into the hype
My advice would be to work out a plan and trade to that plan. Randomly chosing stocks to buy will only end in bad news. Eventually. If i held this stock at a 3.2c entry I would probably wait until the day trading activity calms down and see what it does. But thats just me.
Taurisk. Take a look at the presentation published today by RSL.
I haven't researched Paldin in detail, and it may have licenses in Namibia, but that is many thousands of miles from Malawi. It appears as though Paladin has some reserves at Kayelekera, a bit North of the RRR license at Chintheche. (see page 22). I don't know if these two areas are geologically similar.
Thanks Prawn and Synergy. I guess you cant have a loss if you dont sell Can i just get this right - they are now a uranium explorer - did they just enter into this? I ask only because this is what Etrade's description of it is:
Retail Star Limited (RSL, formerly G Retail Limited) specialises in lifestyle and general merchandise products for men. The stores provide casual clothing, outdoor adventure goods, basic fundamentals and gifts
Mr. Peaman. It is customary to do your research before you buy, rather than after. If you look at the announcements for the company the deal with rrr.l was announced on 9 May (by RRR.L) and went through on 6 August iirc.
As I understand it, the formal change of focus for the company (RSL) will occur in 1Q08. The deal gives RRR a continued stake in U, whilst making it more focused on Iron and Managanese.
Best of luck with your investment.
Taurisk, glad to be of help. I hope your daughter does well. advfn has a number of levels of service. Access to many of the BB's is free if she signs up. As she gets more experieced she may wish to subscribe to the higher level servcies like L2 which shows real time trades, the open order book and real time charts.
I have been waiting for the initial hype to die down for RSL before posting a few comments and taking a position. What really impressed me about the company is the management line up and the exciting range of exploration targets.
firstly the company has somehow mangaged to grab the former head geologist of Olympic Dam Ian Scott, this is a massive bonus for the company who else would you want to lead the hunt for uranium than the person who used to have control of exploration of the planets largest uranium resource.
on the exploration front they have some very prospective uranium tennements in
-Malawi (south of Paladin's upcoming Kayelekera Uranium Mine, not right next too but in same region)
-Northern Territory right in the heart of all the action (with a possible iron ore surprise that I will discuss later)
-Western Australia a couple of interesting targets.
But as highlighted above the iron ore prospectivity maybe a very nice surprise if you look at the location of their tennements they are in and around TTY's Frances Creek iron ore mine (Fe grades 63.8%), they could be the benefit of what I guess you could call the nearology effect.
Its not as if the company hasn't mentioned the possibility of iron ore (see page 11 of recent AGM presentation)
With exploration activity cranking up early in the new year, there might be some nice upside from these levels.
Although early days they are certainly not overvalued given the location of their tennenements especially in Malawi (peer comparison page 25 of AGM presentation)
There is no doubt RSL is only in the spec stage with plenty of risk/reward, but they have all the important bases covered
Good Exploraton Targets
Right Commodity Exposure Uranium,Iron Ore,Gold
will be well worth popping a few in the bottom drawer and seeing how things play out.
anybody else had a chance to look over RSL after the initial hype?
I've got similar thoughts on this one - the appointment of Ian Scott really rang a few bells for me. With the current uranium boom it seems like the guy could name his own price for any job he wanted so its interesting he's onboard a small start up operation in Malawi. Maybe he likes what he sees? Hard to imagine him jumping onto something that wasn't an extremely exciting prospect. All speculation of course.
Lots of good info on the projects at the Red Rock site:Ian Scott, a graduate of the WA Institute of Technology (now Curtin University
of Technology), and a member of the Australasian Institute of Mining and
Metallurgy and the Australian Society of Exploration Geophysicists, has spent
his career since 1972 with the two mining majors Western Mining Corporation
("WMC") and Mount Isa Mines. At WMC from 1986 he was involved with the
development, from pre-production through a series of major expansions, of
Olympic Dam, the largest underground base metals mine in Australia. As Chief
Geologist and Geology Manager of Olympic Dam from 1995 to 1998 he saw the mine
into production, and as head of department he managed the geology function as
WMC more than doubled Olympic Dam's production to 200,000 tons of copper and
4,600 tons of uranium a year by 1999
hi sheepdip, I'm surprised that there hasn't been a bit more discussion about RSL,its not everyday someone with the pedigree of Ian Scott pops up at a spec uranium/iron ore play.
RSL is certainly only at the spec stage at the moment which puts it in the high risk/reward catergory, but it looks like its at the start of a serious shareprice re-rating, and quite often this is the best time to dip the toes in the water before the wider market becomes aware of the whole story, certainly reminds me of RAU before the market started to sit up and take notice.
also of great benefit for RSL is the location of their Northern Territory tennements which have exciting iron ore potential.
following hot on the heels of companies such as FDL,GNL,NSL,MDX etc RSL is another one of the spec mining sector that has stumbled across some very prospective iron ore tennements while their primary focus was another commodity.
RSL has tennements which surround the currently producing Frances Creek Iron Ore mine in the Northern Territory, owned by Territory Iron(TTY which has a market cap of $300 million plus, and FE grades up to 63.8%)
As mentioned in the recent AGM presentation they will be conducting exploration for not only uranium but iron ore as well.
So don't be surprised if shortly we hear something iron ore related out of the company that catches the market by the surprise and rewards the people already holding RSL, much like happened with FDL,GNL,NSL,MDX.
What makes RSL an extremely interesting play is the fact the current CEO is none other than Ian Scott the former Chief Geologist for Olympic Dam. Who better to be leading the search for uranium/iron ore than the person who used to be responsible for exploration at the worlds largest uranium resource.
I'm not sure if I'm the only one wondering why such a highly regarded person in the mining industry would choose an RSL appointment when he could name his price at any of the major mining companies. He obviously sees some massive upside in RSL to be swayed to give up the big money to run a spec company such as RSL.
There is certainly something on the boil at RSL with the imminent allocation of some very exciting uranium tennements in Malawi, south of Paladin's upcoming Uranium Mine.
With the expected announcement regarding the Malawi tennements and upcoming exploration in the Northern Territory, Western Australia and Malawi, RSL is certainly worth keeping an eye on.
Given its current market cap of only $10 million it is well and truely undervalued compared to its peers (see last page of recent AGM presentation)
will certainly be tested on Monday given the Dow's performance last night. down 178.11 points (1.32%)
it's seen it's far share of dummy bidders manipulating the share price, will they still be around if things go pear shaped early in the week.
if the markets weak early in the week we may see sub 2's again.
overall outlook seems positive.
keep an eye on Red Rock Resources (RRR) AIM listing for further developments, you never you get first hand developements with African news.