RDR: Reed Resources.

[Packersoldkidney]

Hot...and running. PMM have an interest.

[SimonSays]

Now this is one I am closely watching.

[Packersoldkidney]

Same here. Low share issue - if it takes off it will take off, if you catch my drift. Unlike others I actually like the deal with Portman, as it lets them get their iron to market nice 'n quick, to take advantage of high prices.

Can't be too far away from news on these fronts.

[SimonSays]

Good knowledgeable, energetic and experienced people - met them at Diggers and Dealers in Kal.

[Packersoldkidney]

Hey, Simon. Notice there's a big shortage of workers over West. Bronzewing got mothballed because of it, apparently.

Have my eye on a few others that have 'potential': but I tend towards those whose share structure is in 'my favour'. Reed is one of these. There are a few others that are doing it on the qt, which is well and good by me. Just hope they can get some extra workers in or all my money could go AWOL. lol.

[SimonSays]

Labour will follow money. I'm more concerned about the revaluation of the Chinese currency than I am labour. Should know a bit more about Reed soon. Got some engineering business to do on a certain WA opportunity.

[Packersoldkidney]

There are claims that the vanadium's grading is too low to be commercial - though one wonders why if this is the case why Xstrata flattened the plant scorched earth style.

I'm expecting BFS on the Portman tie up later this month. Or rather an announcement relating to it.

Notice the Chinese are trying to flatten iron ore prices.

The sharemarket is moving from a focus on speculation to a focus on value.

[Skol]

RDR gets a good 2 page review in the March 15 Bulletin in a column known as 'The Speculator', by David Haselhurst. Trading on PE of 7.6 based on next years expected earnings of $2.5m. Also has one of the largest vanadium deposits in the world and price of V is up from $2.50/lb mid 2003 to $11.50/lb mid Feb.
Reed all about it, Haselhurst says. He intends to buy.

[SimonSays]

Vanadium is a very tough market though - it's a bizarre market. Have been reading about the history which leads to the great story of PMA - some great stories of intrigue and apologies in that one. I know something about the engineering of that plant at Windamurra I think.

[Skol]

Simon,
RDR also has assets which show gold, nickel, iron ore and titanium so is well diversified.