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News, once the claim in DRC is dealt with the following claim is either Switzerland or London. Article 4 Treaty of Rome.
DYOR
RichyRich1- you did not follow the news BEFORE the RNS came out. Ya, know, its a investor vs govt protection scheme. I dont know the details but it is akin to international arbitration. Think you should go to HC Australia to read about it. Ya could have made 20%+ today IF you follow everything closely. I spend nights reading and viewing videos from the co cos the industry ie mining was looking for that. Correction: RRR Mikei, 1.2moz gold JORC at $2,000+ =US$2.499bn, not $12, sorry typo. ====LONDON SOUTH EAST RRR NOW SHOWING RRR+20.89%.===ON 276 MILLION VOLUME.
Even for the RRR DRC, it is being able to take it to the International Tribunal , be it NY, Paris etc that makes the RRR claim potentially interesting. BUT if no country to country such protection, then sorry. Interesting times for RRR now with the gold price at record high & even HIGHER on the Shanghai Gold Exchange. Trying to find out more about BRICKS. DYOR,NIA.
$2,148 looks like $2,150 is nearly here and $2,200 in due course.
All the trolls last week were doing the usual sneering stuff about the gold price.
Gold at $2,200 would be huge for RRR.
It means all the companies at Toronto interested in gold deals just got a bit hotter in the hot to trot stakes.
As always fingers crossed!
DYOR
Mostly agree with what you say News but with regards to SolGold….
“SolGold (LSE & TSX: SOLG) is pleased to announce the signing of a joint declaration with the Government of Ecuador in preparation for the execution of the Complementary Investment Protection Agreement ("IPA") for the Cascabel Project ("Project" or "Cascabel") in Ecuador”
Was the main reason for the rise today I’d imagine?
Apologies for off topic!
A UK notary told me: It is stricter for anything from Africa. This notary was a District Judge. So, electronic could mean more issues down the line and with US$12 BILLION on the line in Kenya [JORC 1.2moz at US$2,100 region per oz], I do not think that posters should ask RRR to not secure the licence with a signature in person etc.? Wondering?
Oh, where is the 1bn to come from? Question for our time? Ref: RRR AGM, 16 Feb 2024, Resolution 4 passed for "Authority to Issue" but NO issuance yet to-date of the hoped for 1bn shares of RRR. RRR RNS@Reach & Stockbox interview on Kenya and DRC Arbitration well received by the market with RRR stock up some 17%+ at one point. RRR VOLUME 276 MILLION SHARE VOLUME.!!! Not the usual teeny volume. Thesis says, one way or the other, someone has to BLINK but I am NOT privy to who will have to blink first. All known theory. DYOR. NIA.
Electronic signatures are used in Canada, USA, UK and multiple other countries but I am not surprised they are not used in South African countries. It is common that significant legal agreement have to regulatory stamps (think notary etc) which have to be done in person.
Numerous countries have been slow to make this change because of corruption issues or even the necessary electronic systems to make it feasible.
During the interview AB mentioned that only recently had the Kenyan mining license was shown on Kenya' electronic data base. That among many other factors is a contributes to a delay in getting a JV partner. It could also reflect a lack of a push by RRR as well since IMO they have too many properties in too many countries. Its hard to know on the outside the reasons but its great to know that its finally there
"Analysts at Goldman Sachs predict that COPPER & GOLD will receive the BIGGEST price boost in the commodities sector due to potential FED interest rate cuts." -RRR tweet, Wed, 6 Mar 2024. https://twitter.com/RRR_RedRockResources/status/1765301967956406395 [with embedded link].
RichyRich1 : Seen the Solgold share price rise from 6p region to 8p+ today alone [+20%] etc - no brainer as folks are ALL looking for STOCKS with JORC [or akin to] rather than waiting for small explorers [juniors] trying to start drills from scratch? Why? Its about the VALUE IN SITU ---RRR Kenya is not gold "in the air", there is a 1.2moz JORC and First Equity put a $13m value on RRR JUST for Kenya 1.2moz JORC. Multiply 1.2moz gold x US$2,083 [source: Metals Daily] and that gives VALUE IN GROUND OF US$2.499 BILLION.!!! Check on RRR website -the First Equity broker note is still on RRR website about 1.2moz gold JORC, Kenya. Ya know of any junior with JORC $2.499 BILLION IN THE GROUND selling for £2.5m mkt cap region? Lov to hear if there is. Thanks.
All sounds great Helpful. Let’s see what actually materialises.
Richy, nothing has changed on ALR except the price is down for the moment: the price cannot continue at current levels as all commentator make clear.
Whatever Migori was worth a couple of weeks ago, it is worth more than this week (marginality). RRR probably needs to spend $150k/$200k to restore the earlier JORC quantum.
What is 1.2mil oz in the ground worth at current prices? The current JORC is 723k oz. The usual metric is that cost of discovery is $30 an oz.
So 723k x $30 gives $21.69mil plus the value of Macalder.
Macalder was 75,000 oz of gold on an indicated basis and 68k oz of gold on a measured basis. You normally get a higher valuation for measured over indicated.
The previous JORC on Migori was 1.2mil oz of gold. At $30 per oz in the ground that gives $36mil plus Macalder.
https://www.proactiveinvestors.co.uk/companies/news/207534/red-rock-resources-clears-away-legal-obstacle-at-12mln-ounce-migori-gold-project-207534.html
All in the public domain. AB has also said he thinks that the resource at Migori could several million ounces.
If it costs a £700 plane ticket and a hotel room for two nights then so be it.
DYOR
Richy - his valuations are ridiculous.
All the assets have been for sale for the last three years. No takers at any price.
$40m is absolutely pie in the sky.
Seems amazing 14% up and struggling to break 0.08p.
If Bell could get anything over the line the share would do well but it's just endless failure with dilution at every corner.
RichyRich1
I recall one of the cases now: Churchill Mining vs Indo,18.10.2018 : "In the present case, Indonesia alleged that 34 licence documents were FORGED given the SIGNATURES in those documents were NOT AUTHENTIC..." [To check, call up the title].
Mr Bell was a director of Churchill Mining and the International Arbitration case was for a very large claim. I do NOT know if Mr Bell was a director DURING that time or EARLIER. But Mr Bell would know precedent cases about not putting on A SIGNATURE.
Times have moved on RichyRich1 - now there needs to be even photographic evidence. I had to SUBMIT my photo holding my ID and dated to the High Court. So, I am pleased that Mr Bell of RRR has flown out to SIGN the licences himself as Chairman of RRR. Why? Remember the last time, the govt took the licences and Mr Bell had to fight for it back. Hmm. But each to their own but legal times have MOVED on?
Sorry Helpful but I’ll be taking your projected valuation of anything RRR does with a huge pinch of salt given the lithium debacle and how much you thought that was going to be worth to Red Rock.
Let’s see how much the market values RRR after licence renewal.
RichyRich1
Whilst it is NOT important given, neither you nor I, are the CEO of RRR, let me just say this: IF it were to be via electronic signature, it is my view , that later down the line, it could potentially POSE to be a LEGAL TECHNICAL issue. Given Mr Bell has an LLB, I think this matter is in better hands for a CEO, qualified in law rather than the layman, dont you agree. I wouldnt trust any electronic signature for the RRR licences @ Mikei worth US$12 BILLION [JORC 1.2moz gold] if that is also included. Just for discussion.
The renewal of the Kenya licences is probably worth $40m+ to RRR. If the CEO thinks he need to go out to Kenya to deal with stuff face to face then fine.
If the difference is 99% positive on face to face or 75% via Zoom then he goes.
Remember that RRR had a JV lined up and agreed for Migori a while back and was kiboshed because the Chinese buyer wouldn't travel during COVID.
The Macalder Tailings is worth decent money on its own: RRR has a JORC for 68k oz (measured) gold, 1.28mil oz of silver and, I believe, 0.3% copper.
£700 for a flight is irrelevant compared to a successful outcome.
You are also making the assumption that it wasn't the people (plural) in Kenya who wanted a face to face meeting.
DYOR
That's your opinion RichyRich1: I have never seen any LEGAL AGREEMENT signed by electronic signature. Recently, I had a court document to sight and sign, NO electronic signature allowed - it went to a FULL HIGH COURT hearing.
I’m guessing you’ve never signed a document electronically News!?
It’s really really easy. You can also print off a page, sign it, scan it and send it anywhere in the world!
The actual cost is irrelevant, again it’s in the optics. If the CEO of a cash strapped company gave an interview along the lines of “I made sure I could minimise any unnecessary expense by taking care of business digitally that saved the company £1,000’s in expenses” I would give him huge kudos!!
£692 on Kenya Airlines. Hardly the end of the world.
Question: How does one RENEW a mining licence by ZOOM? It needs a SIGNATURE from the co ie RRR [counsel's signature is not from the owner of the co's licence].
The Stockbox interview is now POSTED on RRR's website and last I checked 460 people have viewed it. This is post the RRR RNS@Reach today, Wed, 6 Mar 2024. Does it NOT state that the DRAFT ARBITRATION award info again today?
Market likes it as it is up some 17% at one stage and RRR VOLUME THUS FAR IS ------2 6 6 MILLION SHARES TRADED. This is far , far larger volume post the stockbox interview, so folks clearly like the RRR RNS and Interview today. But each to their own. DYOR. NIA.
Blah blah blah blah etc etc.
Has he not heard of Zoom?
Not exactly sure why face to face meeting is needed to renew a licence but hey ho!?
Another great use of funds, fly to Kenya then back to London then back to DRC.
Let’s see what happens in 2 weeks time and whether he does actually fly to DRC or if another excuse will be rolled out for not having to do so!
Https://www.youtube.com/watch?v=he_QNLFlFzg
Stockbox interview, Apologies if it has already gone around the block.
H50 Do you believe that there is shorting of the RRR shares?
Since nothing is reported and if in fact it is happening then AIM is very very bad place to be listed and this will discourage people, particularly those outside the UK, from investing.
It also increases the importance of RRR generating stock interest at the PDAC in Canada and obtaining a North American stock listing
Https://x.com/TaviCosta/status/1765018020882112832?s=20
https://youtu.be/SpOpiRZrfe4?si=fNQApYXdjS_Hqc8I
$2,143.35
DYOR
Mr Bell, from his hotel room in Nairobi, Kenya , speaking to Stockbox today, after the RNS, 6.3.24 explained that their JV partner's lawyer wanted "tribute" from their partner. RRR's JV partner will NOT pay [or cannot pay, I am not sure] their lawyer's request for "tribute".? So, Mr Bell said that once he is in the DRC, it could be sorted? Mr Bell said, "ALL PARTIES" have agreed. I recall something like this when I read about Gecamines and lawyers but tribute is not within the framework as norm. The stock market LIKED the INTERVIEW today and RRR shares MARKED UP +14%+.
Thanks to Hawaii5O for the link to the interview just out. But please CHECK - I cannot be responsible as verbatim is very important & no warranties can be provided by me. So, listen for SELF. Wed, 6 Mar 2024. DYOR, NIA.
Mr Bell is speaking from his HOTEL room presumably Nairobi, Kenya given that is the capital [business centre]. I think I heard Mr Bell say he will FLY from Kenya BACK to London. From LONDON, he will FLY to DRC. Mr Bell's elucidation of the RRR DRC Arbitration has clarified further the RNS today, 6.3.24. I could NOT turn up the sound on my earplugs but I think I heard, "ALL THE PARTIES" have agreed etc. But do CHECK for self as I CANNOT provide warranty [in general or in particular] as in listening , verbatim is important etc.