RTM Reefton new listing on the Alternative Investment Market of the London Stock Exchange ,could be causing some movement in the share price ,
Reefton have diamond and tantalite mining tenements on the coast of Namibia
Code Last ……. Bid . Ask.. .. …Volume RTM…………..6.2… 8…….…557,233
Or some good good leverage to be had in Reefton options @RTMO ….1.3c
********************
Admission Document re Alternate Investment Market
REEFTON MINING NL 2002-05-16 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ Application has been made for the Ordinary Shares to be admitted to trading on the Alternative Investment Market of the London Stock Exchange plc. It is expected that trading will commence on AIM in the Ordinary Shares on 20 May 2002. AIM is a market designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies. AIM securities are not admitted to the Official List of the United Kingdom Listing Authority. A prospective investor should be aware of the risks of investing in such companies and should make the decision to invest only after careful consideration and, if appropriate, consultation with an independent financial adviser.
REEFTON MINING NL (Incorporated and registered in Australia with Australian Company No 010 546 675)
Share capital immediately following Admission Issued and fully paid number of Ordinary Shares 143,716,647
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Date of publication of Admission document 15 May 2002
Dealings commence on AIM in the Ordinary Shares 8.00am on 20 May 2002
MORE TO FOLLOW
Project Update
REEFTON MINING NL 2001-11-21 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ TANTALITE
In addition to the ongoing exploration of the Sandamap - Erongo pegmatite belt, that has been shown to have extensive tantalite mineralisation within a 60 kilometre strike length, Reefton Mining NL has moved to strengthen its position as a potential future supplier of tantalite by entering into a strategic alliance with Rusina Mining Limited, who have today announced the acquisition of two Exclusive Prospecting Licences located in central Namibia.
The licences, EPL 2938 and 2939, cover an area of 1,980 square kilometres incorporating the majority of the highly prospective Nainais-Kohero tin-tantalum pegmatite belt located 20 kilometres north of Reefton's Erongo tenements.
In accordance with Reefton's objective of becoming a significant producer and supplier of tantalite, the terms of the agreement grant Reefton the right to soil and market all of the tantalite produced from EPL 2938 and 2939 on behalf of Rusina Mining Limited. Further, the agreement also provides Reefton a right to provide Up-stream Processing services to Rusina, a service that would result in substantial improvements in capacity utilisation of a processing plant at the time both entities commenced commercial production of tantalite concentrate.
Drilling has delineated a 25 kilometre width of the ancient Omaruru delta and an 8 kilometre width of the ancient Cape Cross delta. Diamonds have previously been recovered from these coastal sedimentary deposits of the Omaruru River system near Henties Bay.
The drilling has determined depths to bedrock varying from 5 to 27 metres and the presence of stratified fluvial gravels and marine sediments.
The advancement of geological understanding of the ancient delta's distribution of fluvial and marine sediments and gravels, and the bedrock morphology will now lead to delineation of targets where the diamonds may have been concentrated. There is no known previous drilling in the area apart from shallow water bores.
MOWE BAY - EPL 2699 (100%)
The first phase of drilling has been completed over the beach deposits where gravel terraces occur over a 35 kilometre length and lying parallel to the coast where diamonds have previously been recovered. Gravel thicknesses of 1 to 3 metres have been intersected overlying the basement rocks composed of granite, volcanic and metamorphic rocks. The platform base to the gravels is rocky and highly variable forming an ideal base for abundant trap sites for diamonds.
It is significant that all of the holes drilled so for have intersected marine gravels and sediments. The extent of the gravel terraces and their thickness signifies the presence of substantial volumes of gravels. The elevation of the gravel terraces vary from 3 metres near the coast to 35 metres inland with the gravels forming a continuous sheet over a width of up to 3 kilometres.
CAPE FRIA - EPL 2700 (100%)
Drilling to the north of Mowe Bay at the Rocky Point area has delineated gravels of 0.5 to 1 metre thick lying directly on bedrock and covered by areas of shallow wind blown sand. The area being assessed is approximately 30 kilometres long and up to 5 kilometres in width, which also has potential for substantial gravel volumes.
A Dense Media Separation (DMS) plant is being sourced in southern Africa to bulk process gravel samples.
HEAVY MINERAL SANDS
SKELETON COAST HEAVY MINERAL SANDS PROJECT, (100%) - NAMIBIA HENTIES BAY - EPL 2698
Heavy mineral sands samples taken at Henties Bay on the modern beach returned 4.6% ilmenite and 0.3% rutile. Further testwork is in progress.
G Hemming DIRECTOR
This report accurately reflects information compiled by Mr G R Hemming, NAusIMM, MAIG, a Director of Roscoria Pty Ltd who is a competent person as defined by the Australasian Code for Reporting of Identified Minerals Resources and Ore Reserves and accurately reflects the information complied by the competent person