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Anyone staying up for the AGM ?

hi Sky, this company sucks!!!!!!

The Namibian (Windhoek)

July 28, 2005
Posted to the web July 28, 2005

John Grobler
Windhoek

THE Ministry of Mines and Energy yesterday confirmed that Australian mining company Reefton Mining NL had essentially lied about its "major new uranium discovery" and had broken the law (Minerals Act of 1992) in prospecting for a mineral that it had no right to look for at the time.

A statement from the Ministry is expected to put a final nail in the coffin of Reefton's uranium-mining ambitions in Namibia.

It also faces some serious questions about its diamond mining in the environmentally sensitive Skeleton Coast Park.

Most damning, the ministerial statement made it clear that Reefton's main geologist and director, Gary Hemming, had failed to do a proper desk study - i.e.

check on old mining reports for this area - before making his sensationalist claims about a new uranium discovery.

"This 'new discovery' was already discovered in the 1970s and is documented in 'The Mineral Resources of Namibia' (1992), a publication of the Geological survey of Namibia," a press release signed by Mines and Energy Minister Errki Nghimtina stated yesterday.

Reefton's share price took a hammering after it announced that its application for a prospecting licence had been turned down, plummeting to US $0.055.

Reefton is listed on the Australian, Canadian (Toronto) and London alternative investment stock exchanges - the so-called 'Penny Stock Exchanges'.

Nghimtina yesterday confirmed that the mining company, which also owns five diamond Exclusive Prospecting Licences (EPLs) on the Skeleton Coast, had in fact broken the law - and then compounded the mistake by announcing it to the rest of the world.

The Perth-based company had applied for seven EPLS for precious stones, semi-precious stones, industrial minerals and base and rare minerals over land situated southeast of Usakos.

The licences were applied for on behalf of its wholly owned Black Range Mining (Pty) Ltd company.

Uranium was not included in these applications, but Reefton seemingly took advantage of the rising demand for nuclear fuel and rising commodity prices - without amending its licence application in terms of Section 73 of the Act - to announce it had made a "major new uranium find."

"The Ministry had noticed a breach of the Minerals Act, when the Company announced on March 18 2005 that it delineated a new uranium occurrence," the statement said.

On the back of its "major discovery" Reefton's share price shot through the roof, trebling in as many days as investors piled in to capitalise on the price of uranium, which had nearly doubled over the last year in response to oil prices breaching the US $50 per barrel level.

But to add insult to injury, Reefton actually went ahead and started drilling in the area for nuclear fuels without notifying the Mining Commissioner, Erasmus Shivolo, as required by Section 53 of the Minerals Act, the Ministry said.

"The above indicated that the Company violated the Act and therefore, in accordance with Section 69 of the Act, the Minister refused the application for amendment of the licence by Reefton Mining NL," the statement concluded.

Relevant Links

Southern Africa
Legal and Judicial Affairs
Namibia
Crime and Corruption
Asia, Australia, and Africa
Mining



Reefton is now also expected to face an official enquiry by the Australian Stock Exchange about large volumes of shares that were traded immediately before it announced its "major uranium discovery" on March 18.

Reefton CEO Simon D. Gilbert and MD Viktor Nikolaenka both resigned within a month after the "uranium discovery" - but not before exercising their share options.

Now instead of Bulling around maybe they can concentrate on dose dare Diamonds !

the company stinks.....one bad decision after another....who in their right mind would trust them!!! get out while you can and invest in something else!!!

nite sky, been doing stupid things like housework, then watched a film and drank a bottle of red wine.........did i say i was giving up drink????

Suspension - Reefton Mining

RNS Number:6762P
AIM
03 August 2005


NOTICE

(367)

03/08/2005 12:00pm

TEMPORARY SUSPENSION OF TRADING ON AIM

REEFTON MINING N.L.

At the request of the company trading on AIM for the under-mentioned securities
has been temporarily suspended from 03/08/2005 12:00pm following the resignation
of the Company's Nominated Adviser.


Ordinary Shares of No Par Value (3-165-984)(AU000000RTM2)
fully paid


If you have any queries relating to the above, please contact AIM Regulation at
the London Stock Exchange on 020 7797 4154

Ref: AIMNOT367


This information is provided by RNS
The company news service from the London Stock Exchange
END

EXCPJMBTMMIMBRA




Refusal of Mining Licence App

RNS Number:7340P
Reefton Mining N.L.
04 August 2005


1st Floor, 47 Ord Street
West Perth
Western Australia 6005
Email: admin@quadrantmanagement.com.au
Website: www.reeftonmining.com.au
Tel: (61 8) 9322 7822
Fax: (61 8) 9322 7823
A.C.N. 010 546 675


4 August 2005


Company Announcements Office
Australian Stock Exchange Limited
Level 4
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000


Dear Sir / Madam


MME PRESS RELEASE - REASONS FOR REFUSAL OF NUCLEAR FUELS APPLICATION


The Company wishes to advise that it is yet to receive any official
correspondence addressed to it from the Mining Commissioner regarding reasons
for the Ministry of Mines & Energy, Namibia ("MME") refusing the Company's
applications for the inclusion of nuclear fuels within the scope of permitted
exploration activities on the licences covering the Erongo Project (EPLs 2805 -
2811).

The Company has however become aware of a press release issued by the Honourable
E Nghimtina, MP, Minister of Mines and Energy, Namibia that relates to the above
matter. The Company did not receive a copy of the press release until Tuesday
2nd August after a request by our legal representative.

In summary, the MME has alleged that the Company has breached provisions of the
Minerals (Prospecting and Mining) Act, 1992 by exploring for uranium without
legal rights to do so, and undertaking a drilling programme for uranium without
notifying the Mining Commissioner of the MME as required by Section 53 of the
Minerals (Prospecting and Mining) Act, 1992.

In accordance with the terms of EPLs 2805 - 2811, the Company is entitled to
undertake prospecting operations on its licences, and therefore may explore for
the minerals to which the licences relate. On 16 March 2005 the Company
commenced an exploration programme at Erongo.

On 11 March 2005, prior to the commencement of this exploration programme, the
Company advised the Mining Commissioner by facsimile of its intention to
undertake a reverse circulation drilling programme with the prescribed form and
a covering letter. This notification was provided in accordance with Section 53
of the Minerals (Prospecting and Mining) Act, 1992. However, it is correct that
this notification did not specify uranium as a target - no specific minerals
were identified as targets in the notification.

On 16 March 2005, prior to the start of the RC drill programme, the Company used
a geophysical technique of ground truthing radiometrics to delineate potential
paleochannel systems. Ground truthing radiometrics was determined as an
appropriate mapping tool for this purpose as the area being tested was within a
known uranium enriched province and paleochannel systems within the province
were likely to contain some uranium mineralisation which would act as an
effective tracking mineral.


The results of the ground truthing radiometrics were significantly higher than
expected, and focused the Company's attention on uranium as a target in its own
right. This led to:

- lodgement of applications for inclusion of uranium as a permitted
target for exploration on the Erongo licences - submitted 18 March
2005; and

- the Company's ASX announcement of 18 March 2005 entitled "New Uranium
Discovery".

Following this Company announcement, notification to the Mining Commissioner of
the MME of possible low grade uranium within EPL 2811 in accordance with Section
74 (read with Section 41(1)(i)(i)) of the Minerals (Prospecting and Mining) Act,
1992 was given on 7 April 2005.

As to the statement in the press release that the discovery is not new, it is
true that the presence of radiometric anomalies and uranium in the Hakskeen area
had previously been identified, and then published by the Geological Survey of
Namibia. As previously advised by the Company, information it obtained from the
Geological Survey of Namibia on the Hakskeen area lacked the necessary detail to
make it complete and sufficiently definite. The Company's view is that
information obtained in March 2005 significantly enhanced the prospectivity of
the area by validating historical airborne radiometric anomalies and identifying
the location of the enriched paleochannel systems.

The Company will seek an audience with the Minister of Mines & Energy to discuss
these issues at his earliest convenience.


Yours faithfully,


BRADLEY S MOORE

Chairman


Enquiries to:
Mr Bradley Moore
Chairman
Phone: +61 (0)8 9322 7822
Facsimile: +61 (0)8 9322 7823


This release accurately reflects information compiled by Mr G.R. Hemming,
MAusIMM. MAIG , a Director of Roscoria Pty Ltd, who is a competent person as
defined by the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves and accurately reflects the information compiled by
the competent person. Mr Hemming has sufficient experience which is relevant to
the style of mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person as defined in
the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves'. Mr Hemming consents to the inclusion in
the release of the matters based on his information in the form and context in
which it appears.


This information is provided by RNS
The company news service from the London Stock Exchange
END

MSCUUUAWRUPAGGC

Is suspension temporary or permanent? Anyone any idea?

davidcornish

I believe the one month suspension ends on 3/9/05

If no broker takes them on the shares will have to bought back by RTM or listed on the ASX .The ADVFN board has some posters who have emailed RTM but no one has recieved a reply as to the future trading on AIM.

R33skyline

Thanks for replying.

From ADVFN

Anyone been contacted yet?

Up 18% on trades totalling nearly 32M. Anyone know why?

davidcornish, I am a journalist at Shares magazine and interested in talking to you about Reefton. Perhaps you can contact me via my email address: yellowfin6@lycos.com

skeane - email sent.

.

Squaregain have been selling RTM holdings citing "rights issue" and "corporate action". Consideration - nil.