Proactiveinvestors recommends

Additional Information

Market:	ASX / AIM
Sector:	General Mining
EPIC:	RML

1 year chart

1 day chart

Rusina Mining

Rusina Mining (ASX: RML) is an active mining exploration company that is focused on the emerging Philippine mining sector. The Company has defined a JORC compliant resource estimate for nickel laterites at its Acoje tenement on the island of Luzon.

The Acoje property also hosts chromite, nickel sulphides and platinum group metals.

Rusina Mining says continued to make progress in first half

Saturday, March 14, 2009

Rusina Mining NL said that, despite the significant deterioration in global economic conditions during its financial first half, the company continued to make progress across its key areas of operation in the Philippines.

Most significantly, the period to December 31 2008 saw the finalisation of the pre-feasibility study for the nickel heap leach project at Acoje, utilising partner European Nickel PLC's heap leach technology, the group said in a statement.

Rusina and European Nickel have now moved into the definitive feasibility study (DFS) phase with the construction of the trial leach facility to demonstrate the large scale permeability and recovery of the Acoje ore. First leaching is on schedule for April 2009.

European Nickel is funding the DFS by spending US$10 million to earn a 40 percent interest in the project.

The highlights of the PFS include a JORC compliant indicated resource of 34.41 million tons at 1.09 percent nickel from an inferred plus indicated resource of 50.14 million tons at 1.06 percent nickel using a 0.8 percent cut off grade. Annual production is estimated at 24,500 tons of nickel and 930 tons of cobalt. Total development is estimated to cost US$498 million.

Rusina reported revenue of A$68,687 in the first half compared with nil a year earlier and net losses of A$1.43 million from profits of A$338,901 previously.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.