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RSN - Renison Consolidated Mines

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Odduna

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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.
 
Re: RSN

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
 
Re: RSN

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.
 
Re: RSN

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?
 
Re: RSN

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.
 
Re: RSN

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? :)
 
Re: RSN

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.
 
Re: RSN

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?
 
Re: RSN

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.
 
Re: RSN

The Bookeeper said:
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.
Click to expand...


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!
 
Re: RSN

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
 
Re: RSN

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.
 
Re: RSN

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.
 
Re: RSN

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

Glad i got out
 
Re: RSN

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. :)
 
Re: RSN

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. :(
 
Re: RSN

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.
 
Re: RSN

KaiserBun said:
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.
Click to expand...

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.
 


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