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

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.

And then of course there's today's RNS - Chinese Group to take a 20% stake in Ridge and provide funds.

Ridge Mining PLC - Notice of EGM
RNS Number:7306J
Ridge Mining PLC
02 October 2006

Ridge Mining plc

('the Company' or 'Ridge') (AIM:RDG)

2 October 2006


Leading Chinese Mining Company forges Long Term Relationship with Ridge and
subscribes for 8.2 million in Ordinary Shares and Warrants


Ridge announces that it has conditionally agreed to issue 16 million new
ordinary shares of US$ 0.05 each in the capital of the Company (the
'Subscription Shares') at 45 pence per share and grant warrants to subscribe
for up to 10 million ordinary shares of US$ 0.05 each in the capital of the
company ('Ordinary Shares') at a price of 70 pence per Ordinary Share (the
'Warrants'), to a subsidiary of Zijin Mining Group Company Limited ('Zijin') in
consideration for the payment of 8.2 million (US$15.3 million) (together, the
'Subscription'). The Subscription is subject, inter alia, to shareholders
passing appropriate resolutions ('the Resolutions') at an Extraordinary General
Meeting of the Company ('EGM') to be held on 30 October 2006.


Zijin is a Chinese resource company listed on the Hong Kong Stock Exchange with
a market capitalisation of approximately US$5.2bn and is one of China's leading
mining groups principally engaged in the exploration, mining, production,
refining and sale of gold and other mineral resources in China. During 2005,
Zijin produced approximately 491,000 ounces of gold of which some 369,000 ounces
were produced from the large open pit Zijinshan gold mine in Fujian province. It
also produced 19,869 tonnes of copper during 2005 primarily from the Ashele
copper mine in Xinjiang.


The investment by Zijin in Ridge is intended to provide a platform for future
collaboration and technical cooperation between the two companies for the
development of future projects. Zijin's expertise in the open pit mining of
large scale lower grade ore bodies is expected to be particularly valuable in
respect of Sheba's Ridge. Immediately following the Subscription, Zijin will be
interested in approximately 20% of the issued Ordinary Share capital of Ridge.


At the EGM, Ridge is also seeking approval to permit the proposed grant of
options to subscribe for up to 25 million new Ordinary Shares at a price of 70
pence per Ordinary Share (the 'Options') to Imbani Platinum (Pty) Limited ('
Imbani') for a consideration of 2.5 million. The Options will be issued
pursuant to an option agreement in accordance with the Company's obligations
under the Heads of Agreement with Imbani announced by Ridge on 30 August 2006
(the 'Imbani Agreement').


The proceeds of the Subscription and the grant of the Options will be applied
principally to fund the Company's share of the equity component of the Blue
Ridge project in South Africa and for general working capital purposes.


Principal terms of the Subscription


The Company is proposing pursuant to a subscription agreement dated 29 September
2006 between the Company, Zijin and Gold Mountains (H.K.) International Mining
Company Limited ('Gold Mountains'), a wholly owned subsidiary of Zijin, to raise
8.2 million through the Subscription. The Subscription Shares will represent
approximately 20 per cent. of the enlarged issued share capital of the Company
on their admission to trading on AIM ('Admission'), which is expected to take
place on or around 2 November 2006. The Subscription Shares will be issued
credited as fully paid and will, on Admission, rank pari passu with the existing
ordinary share capital of the Company.


In addition, Gold Mountains will be granted the Warrants which will entitle it
to subscribe for 10 million new Ordinary Shares at an exercise price of 70p per
share with an exercise period of three years from the date of grant.


The Company, Gold Mountains and Zijin have also signed a relationship deed dated
29 September 2006 to govern the basis of future cooperation on the Company's
projects and to ensure the independence of the board of directors of the Company
(the 'Board'). The deed entitles Zijin to appoint a non-executive director to
the Board.


Zijin


Zijin is a Chinese resource company listed on the Hong Kong Stock Exchange and
is principally engaged in the exploration, mining, production and sale of gold
and other mineral resources in China.


Following completion of the Subscription, it is intended that Ms Shan Shan Li
(Susan Li) be appointed a non-executive director of the Company. Ms Li, a
Mechanical Engineer, is General Manager of Zijin's Division of Overseas
Development with 20 years of experience in the metallurgical, mining and mineral
industries in China and an MBA from the University of Victoria, British
Columbia, Canada.


The Imbani Options


Under the terms of the Imbani Agreement, announced on 30 August 2006, Imbani has
agreed to purchase, for 2.5 million, options to acquire up to 25 million new
ordinary shares for 70p per share. The Options will be granted pursuant to an
option agreement to be entered into between the Company and Imbani. It is
proposed that the Options will be exercisable for a period of five years from
date of grant and, upon exercise of the Options, the Company will have the right
(but not the obligation) to pay out the difference in the market price of the
Ordinary Shares at that time and the exercise price of 70p per share for the
Options instead of the issue of new ordinary shares. Authority will be sought at
the EGM to permit the grant of the Options.


Extraordinary General Meeting


An EGM is to be held at 10.00 am on 30 October 2006 at the offices of the
Company, 7th Floor, Brettenham House, 5 Lancaster Place, London WC2E 7EN at
which the approval of shareholders for the Resolutions will be sought. Notice of
this meeting is contained in a circular, which is expected to be sent to
shareholders tomorrow. Copies of the circular will be available free of charge
at the offices of Field fisher Waterhouse LLP., 35 Vine Street, London, EC3N 2AA
(Saturdays, Sundays and public holidays excepted) until 3 November 2006


Terence Wilkinson, Chief Executive commented:


'The agreement with Zijin marks an important step forward for Ridge and
introduces a powerful potential partner for the exploitation of the Company's
substantial Sheba's Ridge project. We anticipate being in a position to commence
planning construction following the completion of the bankable feasibility study
towards the end of 2007. Zijin will be available to provide technical and
financial assistance as required, significantly decreasing the risks associated
with such a large project. We welcome Zijin and look forward to a fruitful and
profitable partnership.'


Chen Jinghe, Chairman of Zijin commented:


'The investment in Ridge Mining is an important step in our long-term strategic
objective to increase our resources and production base overseas. It also
represents a breakthrough for Zijin in the South African precious metals mining
industry.'


Contacts:


Conduit PR: Tel: +44 20 7429 6666 Mob: +44 79 7995 5923

Laurence Read


Ridge Mining plc: +44 20 7379 1474

Francis Johnstone, Commercial Director

Donald McAlister, Finance Director


Zijin Mining Ltd: 0086-597-3933105


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

Up again today - nice to see Ridge with the wind beneath its wings. Wonder how long the momentum will last.

RDG Bid: 42p Offer: 43p Change: 5.75

3 bagger by Oct 07 ?

NR, I don't like to make predictions, especially about the future.

It's possible; it would be nice; however, I don't think RDG will have anything much in production by then, so it might be a little too much to hope.

gain not held .... now only +2.5 and pretty muted volumes too

That's why I'm not predicting a three-bagger any time soon. :o)

Definitely one to be holding on to for two or three years if the real profits are to be attained. As long as the commodity prices stay above the very conservative values used in the Blue Ridge feasibility study then this should be a winner.

RNS out today: Director Donald McAlister acquired 100,000 shares this week at 39.5p, taking his total holding to 200,000.

Ridge Mining PLC - Disposal of Non-core assets
RNS Number:0153M
Ridge Mining PLC
14 November 2006

Ridge Mining plc

('Ridge') (AIM:RDG)


14 November 2006


Option to acquire non-core projects exercised


Ridge Mining plc, the Platinum Group Metals company operating in South Africa,
announces that Bushveld Platinum PLC has exercised their option to acquire the
Rooikraal, Red Bush Ridge and Fonte Verde projects from the Company pursuant to
the option agreement signed in July 2006.


Completion of the sale is subject to execution of definitive sale agreements and
to ministerial approval. The total sale price for the three projects is Rand 20
million (US$2.8 million) of which the Company has received Rand 7 million in
option fees and deposits.


Terence Wilkinson, Chief Executive of Ridge commented:


'The sale of these non-core projects is in line with our strategy to focus on
our development projects Blue Ridge and Sheba's Ridge whilst maintaining a
pipeline of prospective early stage projects through Fountain Ridge and Western
Ridge.'

BID ALERT!!!!!!!!!!! MASSIVE T-TRADES AFTER HOURS...CHINESE WHISPERS ?

tell me more maestro............whats the news