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Rusina Mining (ASX:RML / LSE:RMLA)


frizzers

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Rusina have commenced cash flow from their Acoje Project in the Philippines, shipping nickel laterite ore to China.

 

There are options outstanding which expire on March 31st, so the selling pressure on the stock should expire by then, if not before.

 

Market Cap currently around £22 million. Earnings for this year estimated to be £5 million, so trading at just over 4x cash flow with significant exploration upside in various spots around the Philippines.

 

European Nickel (LSE:ENK) have a 40% stake in their JORC resource of 831,450 of contained nickel.

 

Focus on nickel, chromite and PGMs - (not in South Africa!)

 

http://www.rusina.com.au/

 

Rob Gregory is CEO.

 

Presenting at Minesite today. Spoke to him afterwards and got the impression there is significantly more to come with this one, once March is past.

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Yep there should be lots more to come in all areas. Check out the historical PGM drilling for one ... Then there is the fact that Rusina's Acoje mine is the closest source of nickel to China in the entire world. Shipping costs are a big factor in the DSO laterite market.

 

One small correction though, there is no magnesium involvement.

 

BTW Frizzers what does "GIP" mean? Sorry to be ignorant.

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Rusina was looking really good fundamentally and technically.

 

Have Rusina had a setback or is it the general AIM demise with the market makers screwing shareholders into the dirt. Seems to be minimal volume for the recent fall.

 

Any reasons ?

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