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Batangas Gold Project

Red Mountain banks $330 000 from the Feds

Perth based Red Mountain Mining has boosted its cash reserves by $338 000 courtesy of the Federal Government’s Research and Development rebate scheme. The company is also expecting to receive a further $1.2m sometime soon from its strategic financing partner, UK based Bluebird Merchant Ventures.

The research and development claim was in relation to Australian based research on metallurgical recovery of semi-refractory fine gold from epithermal gold ores at the Company’s Batangas Gold Project in the Philippines.

It also relates to research undertaken on the environmentally safe disposal and storage of thickened residues in a tropical environment, research that is also relevant to the Batangas Gold project.

Under  an arrangement the company has with Bluebird Merchant Ventures, Bluebird is required to reimburse Red Mountain for $1.2m worth of exploration expenditure undertaken at Batangas in order to earn a percentage of the project.

Bluebird is currently undertaking a listing on the London Stock Exchange and Red Mountain expects to receive its $1.2m reimbursement soon after the listing has completed. 

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
85thAustralian Vanadium147%43%
305thGlobal Energy Ventures26%88%
360thCaravel Minerals18%-25%
775thBreaker Resources-63%3%
794thRed Mountain Mining-67%-42%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

26/07/18
$7k Bought
26/07/18
$7k Bought
14/10/16
$1,000 Issued
Total value as at the date of the transaction
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Revenue

184th↓Red Mountain Mining$233k
220th↓Breaker Resources$138k
221st↓Caravel Minerals$137k
223rd↓Global Energy Ventures$133k
224th↓Australian Vanadium$128k
507 listed resources companies ranked by revenue.
Source: Morningstar

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