KEEP AN EYE ON THIS LITTLE BABY...FANTASTIC PLATINUM/NICKEL PLAY

and with the SP having dropped almost 25% in the last few days, I guess this is something of a buying opportunity. Could have further to fall, though, given prevailing market conditions. I wish I was liquid at present, so I could load up with some more . . .

what the fu?? is going on?

The ar5e has fallen out of the market, is what has happened. Panic reigns. I have now liquidated some profits in order to wait for some bargains - probably after the summer lull.

Ridge is looking ever more a bargain, IMHO, but am still watching and waiting as the current market scenario offers too many opportunities to catch a falling knife.

bargain? god, it will go bankrupt at this rate

Fantastic - wish I had a suitcase full of cash so I could get some more when the price stops falling . . . .

its down again..........it will soon be at its lowest ever...............

Bargain city . . . .

A 5% rise on today's RNS:

Ridge Mining PLC - AGM Statement
RNS Number:1291G
Ridge Mining PLC
13 July 2006

Ridge Mining plc

('Ridge') (AIM:RDG)


13 July 2006


AGM Statement


Speaking at today's Annual General Meeting the Chairman, Mr Oliver Baring, made
the following statement:


Ridge Mining has continued to make significant progress on its two core
projects, Blue Ridge and Sheba's Ridge on the Bushveld Complex of South Africa
and has commenced the rationalisation of the remainder of its portfolio of
projects.


Blue Ridge


At Blue Ridge the banking consortium consisting of the Development Bank of
Southern Africa, Investec and Standard Bank has completed its due diligence.
Application for the loan facilities totalling Rand 650 million are now being
forwarded to the respective credit committees for final approval. These
approvals are expected in early August.


Negotiations with potential empowerment partners to acquire a stake in the Blue
Ridge project are continuing. This process has taken somewhat longer than
planned following our desire to maintain a larger stake in the project than
previously envisaged. These discussions are close to conclusion and a further
announcement will be made shortly.


We have made the key appointment of Chris van Aswegen as the Project Manager of
Blue Ridge. Chris, a mining engineer, previously worked for Anglo Platinum at
the Bafokeng Rasimone Platinum Mine where until recently he oversaw the
successful expansion of the North Section. Chris is a welcome addition to our
technical team and will have overall technical responsibility for the mine's
development.


Pre-development work at Blue Ridge continues apace. Murray & Roberts Cementation
has been appointed the preferred mining contractor for the development of the
underground mine and its subsequent operation and it is planned to sign the
final contract in the next few weeks. Bateman Engineering has been engaged to
produce the detailed design for the concentrator plant and they are expected to
submit their lump sum tender bid in early August.


Sheba's Ridge


Following completion of a pre-feasibility study last year at Sheba's Ridge, the
bankable feasibility study commenced in May. Industrial Development Corporation
of South Africa Limited ('IDC') has agreed to fund the feasibility study in
return for a 26% participation interest in the Sheba's Ridge project.


Under the terms of a new joint venture agreement between Ridge, IDC and the
Anglo Platinum subsidiary, Rustenburg Platinum Corporation Limited, the
respective participation interests in the project following completion of a the
feasibility study and a positive development decision will be Ridge 61.5%, IDC
26% and Anglo Platinum 12.5%.


The main activity currently underway at Sheba's Ridge is the drilling of wide
diameter core boreholes to produce a 50 tonne representative bulk sample from
across the entire orebody. There are currently 3 rigs drilling on site with a
further 2 being mobilised in order to complete the extraction of the bulk sample
by the end of October. The representative bulk sample will be the subject of a
comprehensive metallurgical testwork campaign including a pilot plant programme.
The results of this metallurgical work will govern the design of the processing
facilities for the feasibility study which is planned to be completed towards
the end of next year.


Non-core Projects


We have also sought to rationalise our portfolio of projects and have recently
signed an option agreement with Bushveld Platinum PLC regarding our non-core
Fonte Verde, Rooikraal and Red Bush Ridge projects. Under the terms of the
option agreement, Bushveld Platinum has paid an option fee of Rand 1 million
(US$140,000) for a 3 month exclusive option to acquire these three projects for
Rand 20 million (US$2.8 million). The option period is extendable for a further
three months on the payment of further option fees.


Resolutions


Resolutions 1 to 7 were duly passed. Resolution 8 was withdrawn.

You can still buy it for under 40p too: RDG Bid: 38p Offer: 39p Change: 2.

Current mkt cap is 24 mil

RDG Bid: 30p Offer: 32p Change: -3 Mkt cap 19 mil.

Cheap as chips, IMHO. Off the top of my head I can't think what Ridge has done to merit such a sell-off. Which means it must be a better buy than ever.

The lowest the SP has ever been was about 25p in November 2005. So if this goes sub-30p, with the prospects it has, it surely ought to be a screaming buy.

Will continue a watch and add policy, funds permitting.

WDIK, please make up your own mind, etc.

maybe chips are cheap for good reason ...... this isn't a stock i have followed, but have just had a look at the chart and can see no reason to buy at all ...... fall has been pretty precipitous, with little relief at all on the way down.

Aha, the reasons to buy are forthcoming gold and nickel production from a couple of very promising sites. RDG has between 40 and 60 % interests in its prospects. Gold production is due to start in 2007 from the lessersite. Original cashflow estimates from the project were about $33 million p.a., and that with a far lower gold price than we are currently seeing.

Nickel production due to start in 2008 (I think) is 24,000 tonnes a year. Even if you go back to a conservative nickel price of $10,000, that gives you $240 million in value of the refined product. Am not quite certain whether Ridge will be involved with the refining - I think it's more likely they'll just ship out concentrated ore, for
which you can reckon at least 25% of the refined commodity price.

There are also bits of copper, moly and palladium/platinum at various sites, all of which add spice to the mix. I was impressed with the results of the feasibility studies and the fact that the arranging of financing appears to be going very well.

Personally I think it's likely to be a smash hit.

There's another RDG thread out there with more info on it, plus of course all the usual bumf on the company website and financial info and RN's on ft.com.

Tech analysis on this one will come into its own when the SP hits the support level. Personally I'd be surprised if the market tolerates anything below about 27p - IMO th stock would be glaringly oversold at that level. At present the co looks slightly oversold, and when I start making comments like the previous sentence, usually the market suddenly wakes up and agrees with me.

Enough waffle - I know you'll DYOR; just wanted to persuade you to give this a second look.

with nothing due to happen at all until 2007 and 2008, there looks to be no hurry to buy yet ...... it's all a long way off and no one knows at all what world economies will be doing that far out ...... as you already have, then like a good bad woman, hold!

Fair comment, Cynic - I bought it when things were marching upwards! Agree that many resource co's offer lots of opportunities to wait and see - especially in the current soggy market.

PS - if you want to see something on the rise, check out the new Redhall (RHL) thread. Threebagger since Feb!

Nickel production may still be some way off, but an update on the soaring nickel price never goes amiss:

"Nickel traded at $26,800 a tonne, not far short of last weeks record $27,300, supported by strike action at Incos Voisey Bay mine in Canada, gaining 3.9 per cent this week. Global nickel inventories are at critically low levels having shrunk to less than one days worth of world consumption."

from today's ft.com

RNS out today:

Ridge Mining PLC - Blue Ridge Financing
RNS Number:2116I
Ridge Mining PLC
30 August 2006

Ridge Mining plc

('Ridge') (AIM:RDG)


30th August 2006


US$42 million financing for Blue Ridge PGM Mine

sets the stage for production in 2008


* ZAR300m (US$ 42m) equity funding to be provided by Imbani for 50%
interest in the Blue Ridge Mine, South Africa (Ridge retains 50%)

* 125,000 ozs 4PGM production per annum to commence in 2008

* ZAR650m (US$91m) project debt facilities with DBSA, Standard Bank and
Investec at an advanced stage


Ridge Mining plc, the Platinum Group Metals ('PGM') developer announces that it
has signed binding Heads of Agreement ('the Agreement') with Imbani Platinum
(Pty.) Ltd. ('Imbani') whereby Imbani will provide ZAR300m (US$ 42m) of equity
funding for the Blue Ridge development in return for a 50% equity interest in
the project. The remaining equity requirement of ZAR100m will be provided by
Ridge.


Ridge's retention of 50% of the Blue Ridge mine represents an improvement on the
previously announced terms reflecting its commitment to the project and the
project's improved economic returns.


Imbani is 100% owned by black South Africans and as such qualifies as an
empowerment company in terms of the Minerals and Petroleum Resources Development
Act 2002 ('Minerals Act'). The majority of Imbani's investment in Blue Ridge is
to be funded by the Industrial Development Corporation of South Africa ('IDC'),
and the Development Bank of Southern Africa ('DBSA') who have completed all
their internal approval processes.


Imbani, led by Briss Mathabathe and Joel Mokgohlwa is a member of the Imbani
Group founded in 1977, which has interests in mining and exploration, industrial
supplies and services, property development, engineering and construction, train
and rail operations, telecommunications and power utilities.


The agreement with Imbani and confirmation of their funding was the last
condition required for the consortium of South African banks (DBSA, Standard
Bank of South Africa and Investec Bank) to obtain their final approvals for the
project debt facilities of ZAR560m (US$ 91m ) (ZAR650m including cost overrun
facility).


Under the terms of the Agreement, Ridge will be the operator of the project
during both the construction and operating phases in conjunction with Imbani.
Ridge is at an advanced stage of negotiating contracts for the major components
of the project development. The participation of an empowerment company in the
development will assist in the conversion of the Mining Licence to a 'new order'
Mining Right as required by 2009 under the Minerals Act.


The Blue Ridge project, located 190 km from Johannesburg, has been designed to
produce 125,000ozs of PGMs (in concentrate) per annum which will be sold to
Impala Refining Services under an agreement announced in May. Production of PGM
concentrate is expected by mid 2008. A bankable feasibility study completed at
the end of 2005 indicated an NPV (at 10%) of US$83m (real) based on a price for
the basket of PGMs produced of US$909/oz and a Rand/Dollar exchange rate of
6.62. Today's basket price of approximately US$1,300/oz and R/US$ 7.1 both
significantly improve the project economics.


Under the terms of the Agreement (subject to shareholder approval) Imbani will
purchase, for 2.5m, options to acquire 25 million ordinary shares of Ridge for
0.70 pence per share. The options will have a life of five years from date of
issue.


Ridge Mining has a number of funding options with regard to its contribution to
the project financing under consideration. A further announcement will be made
in due course.


Terence Wilkinson, Chief Executive commented:


'Today's securing of the US$42 million towards the development of the Blue Ridge
mine and the empowerment credentials accompanying this investment will enable us
to start production at the rate of 125,000 ounces PGM from 2008. We are now in a
position to conclude the US$91 million project debt facility with the consortium
of banks that include DBSA, Investec and Standard Bank.


This agreement enables Ridge to make the progression from 'explorer' to mine
developer and operator - a role we are well equipped to perform. We welcome
Imbani as our partners in the project along with their backers IDC and DBSA and
together we are committed to unlock the significant value in Blue Ridge which
has also been improved by the increase in metal prices and exchange rates.'


Contacts:

Conduit PR : Tel: +44 20 7429 6666
Leesa Peters Mob: +44 (0) 7812 159 885
Laurence Read, Mob: +44 (0) 7979 955 923

Ridge Mining plc: +44 (0) 20 7379 1474
Terence Wilkinson, Chief Executive
Francis Johnstone, Commercial Director


Editors notes:


Ridge is a South African focused PGM and base metal developer with several
projects on the Bushveld complex, the dominant primary source of world PGM
production.


Other Ridge projects are:


Sheba's Ridge; a large scale near surface deposit hosting a resource containing
19m ozs of PGM (3E) and 1.3million tonnes of nickel. A feasibility study on this
project is underway. Ridge is in joint venture with Anglo Platinum and has
recently agreed with IDC for it to fund the Feasibility Study in return for a
26% interest in the project.


Fountain Ridge a PGM exploration project on the Western limb of the Bushveld
complex in joint venture with Mmakau Mining and the local community. Early
exploration results have confirmed the presence of the UG2 reef and further
drilling is planned to recommence shortly.


Ridge also has a number of early stage exploration properties on the Bushveld
Complex.


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

I've decided to join the party. I know I'll have to be patient but I don't think I'll be disappointed. I won't look at these again until Christmas.

Yep, good time to be jumping in, IMO, Profitmaker. These may indeed take a while to blossom fully, but seem to be a fair one-way bet from these levels. Good luck and, er, Happy Christmas! :o)

looks like a good bet for the next 18 months, rest of mine obvoiusly valued at $42million at present state and market cap reflects that so alot of upside if you factor in reserves and rising prices plus reduced loan payments and ability to develope further.

Interim Results came out laast week. Didn't contain much by way of surprises as all the news has already been announced, but did have the following to say in relation to Sheaba's Ridge:

"The pre-feasibility study completed last year, based on a nickel price of
US$4.50/lb, copper US$0.95/lb, platinum US$750/oz and palladium US$250/oz, gave
a net present value (5%) of US$388 million for the project. Whilst we do not
expect the current nickel prices in excess of US$13/lb to be maintained in the
long term, it should be noted that a US$0.50/lb increase in the nickel price has
the effect of adding US$25 million to annual project revenues or US$160 million
to the NPV. The project is therefore well placed to benefit from sustained high
nickel prices."

Although it's clearly going to be a while before Ridge has geared up for production (a pilot plant test is due early in 2007), the news re the pricing is good, as the feasibility study was carried out using commodities prices way below what we are seeing currently. RDG could be quite a good moneyspinner.