I came across this beauty last week. Very impressive little company. Extremely undervalued and well and truly under-the-radar considering the large drill program ahead.
-It is the only micro-cap Platinum stock on the ASX
-Currently Platinum price is at 12 month highs and nearing 5 year highs.
-Large Platinum drill program to commence this quarter.
-And most importantly, known high grade Platinum deposits have already been found in the area.
Here's a bit more info regarding Fifield, where we will be drilling this quarter.
Fifield? is? the? only? location? in? Australia? where? historical? platinum? mining? has? occurred.? Approximately? 650? kilograms? of? platinum? were? produced? from? alluvial? deep? lead? mining? operations? in? close?proximity to RIMs tenement.
In 1987 Chevron resources held a major interest in the area however their drilling plans were severely dented by the Global Financial market crash.
Very interestingly Platina Resources (PGM), with a market cap of 30 mill is currently drilling for Platinum adjacent to RIM's tenement at Fifield in central NSW.
They have recently announced fantastic platinum grades, having found the following in their first diamond drill hole:
? FKD-15: 66m @ 0.8g/t platinum
Including: 1m @ 13.5g/t platinum
? OWDD001: 11m @ 1.2g/t platinum
Not surprisingly, Platina's share price doubled on the back of this.
RIMs share price, on the other hand, is trading at all time lows. It had formed a base at 1.6c, until a capital raising at 1.3c was announced a few months ago. Amazingly it has dropped to 1c and i for one am very happy about this.
Now RIM, with a mere market cap of 3 mill, at all time low share prices, are on the verge of drilling right next door to known high grade Platinum deposits at Fifield with Platinum at the highs.
If this isn't a no brainer, then i don't know what is... i expect RIM to be trading at or above 3c before christmas.
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