..11 Feb 2009 11:11
Not bad.. 66% up live...
What I liked about this is RMLA have a few fingers in different pies.. We all know mining is on the floor at the moment, but this is the time to get in, company has cash, so all good..
"NICKEL MINING
DMCI NICKEL LATERITE MINING AGREEMENT - Rusina 50%, DMCI 50%
Background:
DMCI Mining, a subsidiary of Philippine listed construction company DMCI Holdings, and Rusina have an alliancing Direct Ship Ore (DSO) agreement wherein DMCI are responsible for all funding, mining, grade control, rehabilitation, road and port developments as well as the marketing and sales obligations of 5 million tonnes of ore over 5 years.
Update:
As advised in the last quarterly report, the DSO market has virtually stopped and only one 7,500t 2.1% Ni trial shipments took place for a Japanese customer. The trial shipment was successful and DMCI are reviewing mine plans for possible future cargos. The new year has shown some renewed interest in DSO cargos, particularly in high iron content but margins remain low. DMCI have advised that they have signed a contract to move 50kt 1.3% Ni with Laycan in February and continue to negotiate for the higher grade 1.8%Ni cargos. "