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

Greetings! I posted the following on the original RDG thread in early March or thereabouts. Hope you find it interesting. DYOR, IMO, etc.

>> The Sheba's Ridge project, with an estimated 23,900 tonnes of nickel per year, is apparently worth a potential US$334 million in turnover (in which RDG will take an apparent 39% interest, which boils down to US$130 million/75 million turnover) and that's not counting the gold and other precious metals they also hope to find. On the basis of a quick comparison with peers such as Patagonia Gold, the market cap should surely be somewhere near 50 million right now?

Clearly I'm not the only one who thinks RDG is a worthwhile investment. Since the middle of January, Merrill Lynch Investment Managers has been the proud owner of 15% of the current issued share capital.

Anyway, today's good news is that RDG has agreed project finance of US$108m, for the smaller Blue Ridge project, with Joint Venture partner due to take an equity stake of undisclosed proportions. The Blue Ridge project is envisaged to produce 75,000 oz platinum per year (that's US 75 million Bucks!, 43 million Sterling), plus gold, palladium and rhodium in lesser quantities. Assuming RDG gets left with 40% of Blue Ridge, that could give them a turnover of around 24 million, resulting in ample cash generation while they are completing the feasibility study on Sheba's Ridge (which itself has been paid for by another joint venture). <

More good news - up 5.5p, 12%!!! RNS announces Merrill Lynch has again added to its holding in RDG. They acquired 155,000 shs yesterday, taking their holding to around 15%, or 9.42 million shares, all acquired since the beginning of Jan 2006.

Ridge definitely has a bright future ahead of it - check out the number of high-potential assets in its portfolio!

Some of you may also like to cast a glance at Galahad Gold (GLA) and Toledo Mining Corp (TMC). Similar potential, if not better, than RDG, although it may take some time for these plays to realise their full potential.

IMO, DYOR, etc.

Up 2.75p today, closing at 47/49. Most trades on the buy-side.

chart break out... 70p here we come!

Wish I had some spare cash so I could buy some more.

last chance of getting these anywhere near 50p

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thanks for your time

great week!

Hats off this time maestro.

how does one create or find charts on the system here?
from what i could make out from a very basic chart elsewhere, there was arguably a breakout at 50p, but .....

Cynic, it's in the button bar at the top of the web-page, top row, fourth from the left.

SP up 36% over ten days, last five days have all posted a rise. Nice.

FWIW, Nickel news from today's FT.com:

Nickel rose 3.5 per cent to a record $20,000 a tonne as traders said that hedge funds were betting on disruptions to output from Incos Sudbury facility in Canada, where wage negotiations are ongoing and the current labour contract runs out in mid-May. Inco has also forecast a 10,000 tonne global nickel deficit this year compared to an 11,000 tonne surplus in 2005.

Up again today, by 1.5p, on the back of strong metals prices.

I'm impressed by the rise over the last few months, so have just topped up (nearly doubled) my holding at 58.56p.

up 2.5p,should keep nice steady rise now according to the chartists.OT does anyone hold PET?

Volume is tiny but it's almost all on the buy side. Suspect the chartists are right.

Ridge Mining PLC - Holding(s) in Company
RNS Number:6490C
Ridge Mining PLC09 May 2006
Ridge Mining plc Holding in Company
9 May 2006

The Company received notification on 8 May 2006 that following a sale of a portion of its investment in the ordinary shares of US$0.05 each in Ridge Mining plc, RMB International (Dublin) Limited's position is now below the 3% disclosure mark.

Contacts:Ridge Mining plc: +44 (0) 20 7379 1474Francis Johnstone, Commercial Director This information is provided by RNS

Looking cheap-ish today with only a 0.5p spread.

RDG Bid: 58p Offer: 58.5p

Hit a bit last couple of days but one to hang on to for a pound or higher as the story gets better and better!!

Ridge Mining PLC
16 May 2006

Ridge Mining plc

('Ridge') (AIM:RDG)



16 May 2006



Offtake Agreement Signed for Blue Ridge Mine



Ridge Mining plc, the Platinum Group Metals company operating in South Africa,
today announces that it has signed an agreement with Impala Refining Services
Limited (Impala) for the offtake of the concentrate to be produced over the life
of the Blue Ridge Mine near Groblersdal, South Africa.



A bankable feasibility study was completed on Blue Ridge in November 2005 for a
mine producing 125,000 ounces of 4 PGE (platinum, palladium, rhodium and gold)
per annum over a period of 18 years. Consequently a decision was made to bring
the mine into production and a consortium of banks led by the Development Bank
of Southern Africa was mandated to provide the debt finance for the project. The
bank consortium is now in the advanced stages of the technical due diligence
process with the view to finalising the financing arrangements by mid year and
commencing development at Blue Ridge in the second half of the year.



The terms of the offtake agreement with Impala are of a commercially sensitive
nature although the higher grade concentrate to be produced as a result of the
Efficient Cut mining method has resulted in materially improved terms being
offered by Impala.


Terence Wilkinson, Chief Executive of Ridge commented:



'The signature of the offtake agreement was a key condition of the bank finance
for the Blue Ridge development. We are on schedule to commence development of
the project in the next few months with the objective of achieving first PGM
production during 2008.

Marvellous news, Pommy, good to see that some people are focused on the funadamentals and not the current panic.

I like the sound of those "materially improved terms" - one hopes that RDG hasn't locked itself into anything that will prove to be disadvantageous should commodity prices resume their upward trend, but it sounds good because we can be sure that the origianl feasibility study was done using figures that were extremely conservative in comparison with current metals prices.