Why is the Rand Mining (ASX:RND) share price falling today?

Rand Mining Ltd (ASX: RND) shares dropped by close to 3% today after the company released its exploration report for the March 2021 quarter.

| More on:
mining asx shares represented by miner writing report on clipboard

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Rand Mining Ltd (ASX: RND) share price is falling today after the company released its EKJV exploration report for the quarter ended 31 March 2021.

At the time of writing, the Rand Mining share price is down 2.58% to $1.51 cents per share.

Rand Mining's focus is gold mineralisation, and the exploration, development and production activities at East Kundana Joint Venture tenements. Kundana is an abandoned former mining town in Western Australia, in the Esperance Goldfield region. Let's take a look at its most recent results.

Rand Mining's recent Kundana results

The first thing you'll realise is Rand Mining has a certain inventive sense of adventure when naming its exploration and drilling program prospects.

The first set of results the company released covers its Star Trek, Rubicon and Hera areas, and the second covers its Hornet-Pegasus-Falcon exploration regions. The company's update also provided positive reports around its Pode drilling area.

Rand Mining discovered gold mineralisation from 1.6 g/t AU at 234 metres deep to 9.7 g/t AU from 162 to 168 metres deep at Hornet. Assays also revealed mineralisation from 2.5 g/t AU at 52 metres deep to 8.6 g/t AU at 46 metres deep in Star Trek.

Rand Mining said the company's drilling at 10 targets at its Pode structure "returned intercept results with significant gold mineralisation during the quarter."

Most of the company's drilling holes in its Pode area intercepted two or more stacked lode structures, which are ore deposits within the rock layers that often contain rich mineral deposits, in this case gold.

Rand Mining also noted its plans for the future will focus on the company's Pode, Hera, Rubicon and Star Trek.

Exploration drilling during the next quarter will continue to test the southern extents of the Pode and Hera structures following on from the recent results. Further exploration drilling targeting the Rubicon hanging wall and Startrek prospect will recommence towards the end of the quarter.

Rand Mining share price snapshot

The Rand Mining share price has been tumbling over the past 12 months and is down across every time span metric: 6% this past week, 1.9% the past month, 16% in 2021 so far and 17% over the past year.

Should you invest $1,000 in Newcrest Mining right now?

Before you buy Newcrest Mining shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Newcrest Mining wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

More on Resources Shares

Miner looking at a tablet.
Resources Shares

Up 73% since April, why Mineral Resources shares could keep charging higher

A leading expert says that Mineral Resources shares remain ‘heavily undervalued’. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Resources Shares

Guess which ASX 200 mining stock is sinking 7% following its quarterly update

Let's see how this miner performed during the third quarter.

Read more »

Miner looking at a tablet.
Resources Shares

What's the latest broker ratings on BHP shares?

There's an air of caution floating about BHP shares even with bullish ratings.

Read more »

A young African mine worker is standing with a smile in front of a large haul dump truck wearing his personal protective wear.
Resources Shares

BHP shares last traded at $50 in 2023. When will they get back there?

Let’s dig into the potential for BHP shares to rise.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords stock just rocketed 21% on 'exceptional' results

Investors are sending the ASX All Ords stock flying higher on Wednesday. But why?

Read more »

A mature age woman with a groovy short haircut and glasses, sits at her computer, pen in hand thinking about information she is seeing on the screen.
Resources Shares

Guess which prominent Super fund just offloaded its remaining Mineral Resources shares?

This super fund has had enough.

Read more »

Image from either construction, mining or the oil industry of a friendly worker.
Resources Shares

Broker names 10 ASX mining stocks set to outperform following Macquarie Conference

Twenty-two ASX mining companies presented at the annual Macquarie Conference last week.

Read more »

Miner holding cash which represents dividends.
Dividend Investing

Invested $8,000 in Fortescue shares 5 years ago? Guess how much passive income you've banked!

Fortescue is popular among passive income investors for paying two fully franked dividends per year, even during COVID.

Read more »