rem(nickel stock) running strong on a bad day

  1. 8,803 Posts.
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    This stock used to be worth a couple of dollars in the last resource boom and interest is starting to come back but no daytraders have picked up on it yet.The sell side is beginning to quickly dry up aswell.

    Drilling is about to commence...punters will begin to buy a few weeks before drilling commences .

    The Directors of Reliance Mining Limited (“Reliance”) are pleased to advise that
    Reliance will commence exploration drilling on the Beta Hunt Project (“the Project”)
    in November 2003, two months ahead of schedule. Drilling will commence on the
    East Alpha trend which is interpreted to be the down plunge extension of the Lunnon
    nickel deposit with past production of 120,000 tonnes of nickel metal (Figure 1).

    We all know that nickel is flavour of the month and that REM will be drilling in a couple of weeks on very good ground so the chances that they will find something are high imo.

    REM also has another nickel project about to start up aswell...

    STANLEY NICKEL/PGE PROJECT, WESTERN AUSTRALIA
    INTEREST : 100%
    The Stanley Nickel /PGE Project consists of a contiguous block of seven Exploration
    Licences, one granted and 6 under application, located near the Canning Stock
    Route, 230 km north east of Wiluna in Western Australia.
    Exploration Licence EL69/1844 contains two magnetic anomalies co-incident with
    gravity highs. During July and August 2003, moving-loop electromagnetic surveys
    were completed over these magnetic anomalies.



    Reliance expects to obtain heritage clearance over the area to enable
    commencement of an initial drilling program to test the source of the conductive body
    during October 2003.



    Keep a close eye on this one as its obvious the big boys are picking it off.

 
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