RVR 0.00% 7.3¢ red river resources limited

a new nickel belt?

  1. 11,522 Posts.
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    I took this as a pick in the Short Term Trading thread a few weeks ago when I realized some group had picked up 70% of shares on issue as a shell play.
    Today we see that the new management have moved quickly to begin implementing their new strategy and have acquired almost 500 sq kms more ground to add to the 160 sq kms they held in the Stella Range / Minigwal area adjacent to St George Mining . It seems that St George has surrendered some ground possibly due to heavy expenditure commitments and this new proactive management team have picked it up - quite a coup I think! Furthermore they have acquired some ground further north adjacent to WCN and Duketon Mining's Diorite Hill projects . All in all pretty good strategy IMO . If any of SGQ, MAT, WCN or Duketon come up with a decent nickel sulphide discovery these guys are going to hold the ground adjacent to it.
    In the next few weeks St George are about to embark on their first deep drilling campaign on 7 conductors which have been identified by Newexco,Sirius's former consultants . Success by SGQ should really draw attention to this part of the world and importantly previous drilling by SGQ and BHP have identified that nickel sulphides are present,they just need to find the accumulation zones for the Ni sulphides.
    In today's announcement RVR also bring up this idea of a potential new nickel belt running from RXL's Camelwood deposit in the northwest down through Duketon's Rosie deposit all the way through WCN's Merolia ground down to St George's tenements.This same idea was also mentioned recently by WCN's MD in a presentation.If this idea of a new nickel belt comes to be accepted and SGQ come up with a decent discovery it should help to energise the whole area.
    WCN in recent announcements show the extensive area of basal contact they have between the mafics and ultramafics and RVR also hold about 5km of this basal contact adjacent to WCN's ground.Below is a map from RVR's announcement today and a few maps of mine for the area I have recently updated,one of which shows the companies which hold ground along this potential new nickel belt.
    Also the ground to the west of RVR at Minigwal is held by a company called Australian Salt Lake Potash Pty Ltd so it is conceivable that potash might also be present on RVR's ground.Over coming days I will post further maps as I build them to show the potential of this area.I also hold SGQ and MAT so between the three companies I think I have the lower part of this belt well and truly covered.Success by any company is going to have a flow on effect for the whole area.
    Lastly I have put together a boxed comparison of the companies in the area from Camelwood all the way to Cambridge.
    One more thing,I read the biographies of the new directors and I wondered about one of the directors in particular,subsequently I called the MD and asked and he confirmed that Mr Paul Hart one of the directors was indeed the former "Red Heart" HC poster known as Aksier.I guess this company position as a director is the reason he is no longer able to post on HC....I notice he holds about 10% of the shares on issue bought with his own funds.



 
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