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News, you need to be crystal clear on your thought process. This all would have been examined as part of the court case RRR joined in with.
VUP was jointly suing Gecamines and Glencore for non-payment of the $15mil, having already already received $5mil. RRR joined in when the case became public. If there was any doubt about ownership, how and why did RRR manage to get a substantive judgement in its favour plus a judgement for costs and compensation. This was in the Lumbumbashi Commercial Court.
This all would also have been examined in the Arbitration Court and was by a senior judge. If there was any doubt about ownership it would have been revealed by now.
It is a non-issue, it is a dead parrot.
DYOR
Bell tweet, 2 comments so far.
https://x.com/ABell2019/status/1780903008894632199
Right.
So, further to the situation of RRR/DRC, it then goes to follow if there was/ is a mining register, RRR's name would be on it for Musoni or rather the JV Congo co. This is further to your earlier post on RRR/DRC vs Mr Poster on this forum who said this and that which contradicts Clear Capital broker note.
It would now appear that RRR would have to have been on the Cadastres or the JV co. This is the burning question that has been missed info and one to which RRR stated RNS/position is clear. Thanks.
Call me whatever you want Delboy 🤡 🤣
Doggie, you don't even know what time period is relevant. Perhaps we should call you sheepie?
News, it is how long is a piece of string. It will be down to the board or new board in due course. Likely over at Kilmore we have lithium and rare earths as well but who knows if they are commercial.
They have to balance having enough cash to list for max value with dilution caused by the pre-IPO round.
DYOR
Helpful 'The loss of shareholder value is down to Glencore's behaviour.'
I think we should blame Glencore for all previous losses before that period too :)
News, they are called a Cadastre; Burkina Faso, CDI and DRC each have one. I have been all over the CDI one to check out who is operating near to us. Like at Lake Kossou we have Koulou Corp to the North and Kobo Resources to the South.
The Cadastres are online.
DYYOR
Thanks
LoL. I saw that. It came onto my feed on Twitter. Think it was an interview with the CEO.
Https://www.lse.co.uk/rns/FMET/acquisition-of-sylvanite-gold-tailings-project-yz5d03su24ulw2k.html
Note 67,051 oz of gold: no 43-101 or JORC. Fulcrum is paying at least $340k.
The Macalder Tailings has similar gold in a Measured JORC plus silver and copper. If I remember rightly, it is 1.24mil oz of silver and 0.3% copper.
DYOR
Typo: was etc.
One last puzzle. Relating to the RRR Australia potential IPO, there now appears to be a pre-IPO $500,000 situation for drilling prior to IPO. That is fine at Berringa. How about Kilmore ? Or is this going to be SOLD , spun out etc?
The same Sam and Willem who thought Tin Hill.was the next big thing if I'm not mistaken !!
Gold every *ucking where !! Says are very professional geogologist.
Speculative you seem glass half empty today. I thought you were quite bullish two weeks back ?
RRR could front a behavioural science case study. Watch how DRC and 200 tonnes slips out of all consciousness as our cheerleader Lundy leads us by the nose to the next big thing. Deflect and detract move on from failures extensively ramp the next big thing to maximise his profit on his placing shares.
Help
Relating to your post which is insightful, may I ask if at that time, there is a mining register.
For example, in Greenland, I could go to the Greenland Mining gov site and see ALL the mining licences by number and what type of projects ie iron etc. I can also see the STATUS of the licence eg Active etc. I can also see , on public file, the name of the licence holder and how long the licence last for. Holders used to check for one AIM stock , not RRR.
In this regard, I recall somewhere that in DRC, it was not available. Is that the case and has that changed now? Many of these countries still have paper filing. Thanks.
If the dog hadn't stopped for à dump"itcwould have caught the rabbit LOL
On April 4th RRR/AB made this comment
“The first team on site will be preparing a report giving further detail that we will hope to be able to share with the market as early as next week”…
just checking to see if there is any disagreement that a week consists of 7 days or that its been 14 days since that post.
No one would have believed it would have taken this long to sort out VUP.
Regardless the loss of value caused by successive raises will form part of the claim against Glencore. If Glencore had played things with a straight bat, things would have worked out a lot differently. If Glencore had dealt with RRR directly, as they should have done, then there would have been no fund raises over the intervening period. The loss of shareholder value is down to Glencore's behaviour.
DYOR
Thanks for link helpful - just watched it. Mcap at the time £7m and share price 0.55... a 90% fall in 2 years which now needs a c.1000% rise to get it back to that share price or a c.300% rise to get it back to that mcap... crazy for anyone invested back then that hasn't exited or averaged down.
I'm still interested to ride a wave on this one though at some point - I just clearly got my timing on entry very wrong originally.
Talkie, Stockbox interview re Burkina Faso
https://www.youtube.com/live/ICZSwt-tIU4?si=GACtw4frD_KGpHTq
DYOR
Do we have a Trabant dealership in Manchester?
Banbury FASO operating costs est by Helpful
Quite amazing for admitted non professional mining with supposedly no insider information can make cost estimate on a project which he has not even visited
Helpful's track record? RRR would have cash flow from Lithium last March/April 2023- actual results Dec 2023 200 ton left for export but not delivered because they realized that the price dropped I guess no one check the internet
Talkie,
First of all RRR has not had it for years.
In the case of Bilbale our contract with the local landholder had to be renewed and with Boulon the licence had to be renewed. See the announcement below from January.
No one is doing any work on a licence without knowing that they can exploit it. Initially the work at Bilbale and Boulon was on the hard rock. Subsequently, after surveying they found they had alluvial at Bilbale.
The problem is how can you exploit it? You need kit on the ground and you need experienced staff used to operating in these countries; it is not as easy as popping down to B&Q. With Sam and Willem we have partners who know their way around these places. With the alluvial, you would only bother if it was substantial. They have done their surveys and Willem has confirmed the work. Hence, they are going to operate initially on four sites at Bilbale.
https://www.londonstockexchange.com/news-article/RRR/central-and-west-african-assets/16301442
https://www.londonstockexchange.com/news-article/RRR/asset-review-current-developments/16209620
https://www.rrrplc.com/wp-content/uploads/2024/04/2024.02.29_RRR_Burkina_Faso_Alluvial_Project_Presentation_2.pdf
Note the Moratorium has been lifted.
"With over 10 applications prepared for prospective ground once moratorium is lifted, to be ready to file immediate applications for further areas"
NB with also have alluvial in CDI at Yamassoukro/Lake Kossou.
If the alluvial works out okay at Bilbale, I expect that RRR will do the same elsewhere.
DYOR
Shame - I’ll pop in your local just in case 😘
Helpful - what is the bit I am missing on Faso then please. If costs are $300-500 and start-up costs only £260k to start producing revenue and with a quick turnaround - why has this project not been top of the agenda for years as the returns would definitely have been profitable given gold price over last decade?
Has there been a licence issue or something else which kept this on the backburner?
Dukey, I really do have better things to do than meet up with you. I am going to be washing my DVDs that day: whichever day it is.
Though if Faso has confirmed its initial production figures I might change my mind. It would be nice to have you explain; why you are so wrong on Musonoi, why you were so wrong on Kenya, why you haven't paid what you owe to Christie's and why you are so wrong on Faso?
DYOR