RDS 0.00% 0.4¢ redstone resources limited

get a load of this guy, page-22

  1. 1,134 Posts.
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    re: activity Don't think BHP are drilling there. Maybe you are thinking of the $25m joint venture (to earn only 65%) that they signed with GSE on GSE's EL applications in the Musgraves. GSE's EL's are still at the application stage only so no drilling is allowed.

    GSE have been trying to do a deal with the traditional owners for years though so don't expect drilling soon. They recently drilled on one of them.

    Otherwise, PNN also have ground out there. One of their apps has been granted. The other two are still applications only.

    Metals X also have a very big laterite nickel deposit that INCO drilled out in the 60's. The JORC resource is only 60mt at over 1% nickel, but the target is approx 200 - 300mt (same as BHP's Ravensthorpe Mine). However, thats not granted either, so don't expect anything there.

    Mithril have ground out there also (still only at the application stage). Primary Resources is a junior (cap only about 3m to 4m) who have some applications for ground out there.

    RDS and PNN are the only ones I know that have granted applications out there.

    Rubicon Resources is listing on Friday (tomorrow) and have 11 ELA's (exploration licence applications) out in the Western Musgraves looking for the same stuff as RDS. Buckhorn pegged those ages ago so its good stuff. They could be the next RDS so watch out for them (They didn't give me shares in the IPO).

    Problem is trying to get the EL's granted.


 
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