named after the celler dwelling football team, richmond has a iron ore project in the united states.

recently announced completed feasibility study,and the sellers that had been waiting for this to get a profit have unloaded and provided an opportunity for me to top up last week.

small cap,but worth a look at past asx ann. to get a feel for what seems to me to be a different sort of value to aussie iron ore,african iron ore.

interesting to see the inefficiencies in the american bulk commodity transport system. freight costs and freight labour are stingingly high compared to similar australian commodities and distances.

had been sold down under 40 cents.

just announced big chinese partner would help with the debt financing of the iron ore project, and offtake deal.

big partner gets 20 % of the company for 40 cents first bite,50 cents second bite.

the selldown in the time leading up to the setting of the equity buy in price is mysteriously over,and the market now happy to pay 50 cents.

at least i got to top up cheap, but it was unnerving buying into relentless selling pressure.

back under 40 cents.

today had a presentation released on the asx.

steadies the nerves a bit. i consider myself set, but am trying to decide if i should reweigh from old risk companies into new risk rhm.

very nice numbers and photos.

richmond had to turn to non chinese money to get out of a funding crunch. they got it, but it would have been easier if earlier indications had been valid.

rhm may well come under selling pressure when trade halt lifts. low 30's could be good buying.

selling down has taken richmond to 20 cents. i have averaged down,and am underwater.

it is all down to financing,and probably chinese partner/offtake contract.

if financing comes through,it is worth more than 20 cents. if it fails,so does richmond. i think it is a good gamble at these levels,but still a gamble.

richmond is up for a name change to nevada iron.

small cap raise,and a new management team.


the whole double or nothing story here is getting finance for the iron ore project.market re-rating hints there is a bit more confidence under new management.