Keep an eye on this on RMI (Resource Mining) over the next couple of weeks .....There is a "rumor" that some foreign companies (Canadian one of them?) are very interested in acquiring RMI's WoWo Nickel project in Papua New Guinea. The WoWo historical data indicates a resource of 66.8 million tonnes nickel at 1.17% and 0.09 cobalt with the potential to easily increase to over 115 million tones since it's open to the North, South and at depth. If one were to make simple calculations at todays nickel prices RMI WoWo project is worth more than $30 billion (!!!!), yes you read correctly, 30 billion US dollars! Not bad for a little minnow like RMI the S/P of which is languishing for a while now, at below 4 cents! As I said, it's only a rumor still, BUT the in ground nickel value IS THERE and RMI represents perhaps the best value of all penny dreadfuls around (...I am not even including it's other major Iron Project in the Kimberleys here)...... Maybe one day SOON (hopefully) long sufferering RMI shareholders who have paid much higher prices than 4 cents will be pleasantly surprised.....
Wo.....Wo........!!!
Cheers;))
RMI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
