rmi - past, present and future, page-11

hi trees n all,

i feel that with the recent renewal + RMI's key focus being on Wowo gap, things can move forward more.

trees, as you have mentioned, the projected infill drilling of 200 holes should revise the JORC resource. Wowo has already a good size resource and proving up more will definitely attract more interest, lengthen the mine life and lower operating cost.

trees, you also wrote, "Once this is done with of course a CR and some external investment, then commence the true JV contractual arrangements."

yes, in that scenario it would be ideal to retain more % in the project but imo, i reckon RMI could already engage a JV who's willing to spread the cost/expedite the process of the BFS, MDC and SDL n other necessary applications?? (which i feel is already a work in progress)

hoping to hear about a struck JV deal while we drill and receive drilling reports from the coy for the next two qtrs.

a 10% increase in JORC will be nice.


to upmarket, the global trend of nickel and the global market sentiment did not help during this period plus RMI's focus if i wasnt wrong, was kinda split before the sale of the Argyle iron project. so more things are happening with Wowo.

it's also significant to note that RMI's major shareholder is the Sinom Hk ltd who increased their stake in RMI thru the rights issue during April 2010, by purchasing $500,000 worth of RMI FPO to hold 290million shares or 18.3% of coy.

Mr Zhang is the founded and Managing Director of the SINOM Group who is also on the board of directors for RMI.

Sinom (Hong Kong) Limited operates as an iron ore trader. It involves in shipping, trading, and resource investment in China, Hong Kong, and Australia. The company supplies iron ore and other commodities to steel mills in China.


i hope its not too much info for a sat nite.

looking forward to more re-rating of sp, cos imo, 0.007 is still too low for RMI.