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Additional information
Additional Information
Market: ASX / AIM
Sector: General Mining
Epic: RML
News: Latest news
Web Site: Rusina Mining
Other Articles: 02-03-201002-03-201003-02-2010

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Rusina Mining

Rusina Mining

Rusina Mining N.L. 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 and will commence mining operations in the second half of 2007. The Acoje property also hosts chromite, nickel sulphides and platinum group metals. Rusina is listed on the Australian Stock Exchange, code RML and the London Stock Exchange (AIM) code RMLA.

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Saturday, January 30, 2010

Rusina Mining has A$4.95 mln in cash as at Dec 31 2009

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Rusina Mining NL (AIM: RMLA, ASX: RML) issued an activities report for the quarter to December 31 2009, saying that at the end of the period, the company's cash on hand was A$4.95 million. In addition, receivables owed by its joint venture partner on the Acoje nickel heap leach project totaled US$0.8 million.

Rusina and joint venture partner European Nickel PLC (AIM: ENK) announced last month that the Acoje nickel heap leach trial pad and pilot plant was officially opened on December 9 2009 on Luzon Island in the Philippines.

The crusher was commissioned and the 3,000 tonnes of nickel laterite ore, a mixture of limonite and saprolite, was completed within the required specifications on the first pass.

All electrical work on the agglomerator, binder plant and associated monitoring equipment has been completed and the agglomerator and associated conveyers are now fully commissioned. All water and reticulation equipment required for agglomeration and stacking is in place and will commence pressure testing during late January.

The downstream processing plant concrete pad has been completed with shed erection due to commence shortly. The Resin in Pulp, Ion Exchange and Centrifuge installation is scheduled to commence in late February.

Leaching will commence once the pad has been stacked and irrigation pipes placed over the heap. An HDPE raincoat will cover both the pad and the ponds, Rusina said in its update.

DMCI Mining has notified the company that it is intending to resume operations at Acoje in the first quarter of 2010. DMCI have received buyer interest for higher grade nickel laterite ore and will seek to undertake selective shipments from the Santa Cruz purpose built loading facility, Rusina said.

Since the end of the quarter under review, Rusina has modified the existing Direct Shipping Ore (DSO) agreement with DMCI to enable the mining to recommence – as announced a fortnight ago. In accordance with the terms of the modified arrangement, DMCI shall continue to be responsible for all mining, marketing, transport and capital costs of up to 200,000 tonnes high grade ore at a fixed operating cost whist providing a 50 percent share of profits to Rusina on a shipment by shipment basis. There is an agreed minimum profit before a shipment can take place.

In addition, the modified arrangement includes a substantially reduced fixed incremental cost for lower grade ores, again on a minimum agreed profit on a ship by ship basis. This modified arrangement greatly reduces the risks to both DMCI and Rusina in the volatile DSO market whilst taking advantage of favourable marketing conditions as they arise, Rusina added.

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