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Additional information
Additional Information
Market: AIM / ASX
Sector: General Mining
Epic: RMLA
News: Latest news
Web Site: Rusina Mining
Other Articles: 27-04-201007-04-201025-03-2010 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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Rusina Mining

Rusina Mining

Rusina Mining N.L. is an active mining exploration company that is focused on the emerging Philippine mining sector. The Company has defined a JORC compliant resource estimate for nickel laterites at its Acoje tenement on the island of Luzon and will commence mining operations in the second half of 2007. The Acoje property also hosts chromite, nickel sulphides and platinum group metals. Rusina is listed on the Australian Stock Exchange, code RML and the London Stock Exchange (AIM) code RMLA.

Tuesday, March 16, 2010

Rusina Mining boosts cash balance in H1 2009 with fundraising

Rusina Mining (ASX: RML; AIM: RMLA) has focused its efforts on developing projects with shorter pay-off period in the six months to 31 December 2009, while raising funds to improve its cash balance.

Rusina Mining made no revenues after making A$68,687 in H1 2008 and posted losses of A$2.4 million compared to a loss of A$1.4 million for the equivalent period of the previous year, bringing losses per share up to A$0.72 compared to last year’s A$0.59.

Current cash and cash equivalents stood at nearly US$5 million compared to A$2.9 million at 31 December 2008, while total current assets increased from A$19.2 million to A$21.97 million. During the period, Rusina Mining has raised some A$5.7 million through a placing.

The company undertook the minimum required expenditure in its early phase exploration projects, intending to concentrate on the projects that are most likely to achieve early cash flows.

Rusina has been focused on progressing the Acoje nickel heap leach feasibility study with the successful completion of the trial heap leach facility.

The nickel heap leach trial pad and pilot plant were opened on 9 December 2009. The trial heap will be constructed at the same height as the full commercial operation and is designed to prove the heap percolation and leach rates. All electrical work on the agglomerator, binder plant and associated monitoring equipment has been completed and the agglomerator and associated conveyers are now fully commissioned. The downstream processing plant shed was erected in post-period, while the resin in pulp, ion exchange and centrifuge will occur in Q1 2010.

Leaching will commence once the pad has been stacked and irrigation pipes placed over the heap.

The project is being funded by JV (joint venture) partner European Nickel (AIM: ENK), which is spending US$10 million to earn a 40% interest. The two businesses entered into a merger agreement after the end of the period.

Rusina is looking to undertake further drilling which seeks to move additional JORC resources from Inferred to Indicated status, also aiming to lower the current forecast cash cost of US$1.60/lb and increase the end payable product. This will lengthen the proposed mine life and increase the Net Present Value (NPV) from its present US$375 million.

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