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I am told Boring Boy has been doing his yawn thing...
https://www.bgti-bf.com/index.php/bgti-en/
https://www.goldwestafrica.com/ouaga-dore
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.responsiblemines.org/wp-content/uploads/2018/04/Publication-supply-chains-artisanal-gold-west-africa_-ENGL_-baja.pdf&ved=2ahUKEwiImIDtgN2FAxWrZkEAHSKPBqQQFnoECDQQAQ&usg=AOvVaw2pewZZ3FgAW6QDG1R9FXHI
Gold is a big industry in Burkina Faso: it is everywhere. Obviously RRR/Faso will be the only company/entity not able to sell gold, because Boring says so.
Not a good advert for KPMG to have this person representing them.
DYOR
All looking good THO'' regardless, Gold on the uptrend once more trying to break away from its base $2300 up $12 ATM @ $2330 and will no doubt test the high again @ $2415 in the days ahead... right place right time for RRR
Morning campers, well if we have had illegal miners on site digging out gold with there bare hands pick axe and shovel for the last 2 years, and making a fortune, then the resource must be huge'' and perhaps that's why it's taken a bit longer than the week expected for that geologist report'' for that deeper understanding of what we have there, as the illegal was only working the surface by the looks of it ? but for balance the RNS for the wash plant delivery expected to come by plane in a few days'' does seems a little bit suspicious 20 days on, as to where is this plane ? one can only start to think that it is already there, and the NOMAD tell AB not to inform the Market yet about this milestone until this director dealing recently settle down for a few days so it don't look like insider dealing ? FK knows'' but it's a thought.... been round these casino's for years... digging for a reason as to why''
anyway'' trading look a little bit better than yesterday for this time of the morning so I'm still hopeful that we will see an update imminently'' what 1 of the 4 vertical we discuss so far that it will be, we don't know.....
ATB
Robins we spoke yesterday - i wonder if this is part of the issue.
West Africa are massive the one Helpful posted yesterday not small scale. RRR are definately small scale.
Perhaps HELP will expand. Hopefully not caught out by another rule change like Zimbabwe.
https://www.reuters.com/world/africa/burkina-faso-suspends-export-permits-small-scale-gold-production-2024-02-21/#:~:text=Feb%2021%20(Reuters)%20%2D%20Burkina,with%20immediate%20effect%2C%20it%20said.
Very topical Helpful
Its not just posters on this board that have expressed incredulity about RRRs statements about ALR and the 200 tons but also reputable financial journalists.
The following was a fairly brutal review of RRR and regulation in general following photo gate.
https://investingstrategy.co.uk/financial-news/is-the-aim-market-an-unregulated-mess
Circumstantial but all the personal issues you have with the NOMAD have all been since this criticism and they were IMO clearly stung.
More appropriately so were shareholders, the lack of progress on 200 tonnes and the supposed experts raises serious trust issues that the journalist referred to and need addressing to shareholders as soon as possible. The questions raised by blueboy would be a start.
Please don’t insult mine or others on this board by telling me I can read, I’m stupid I get everything wrong. Its wearing a bit thin coming from someone that does actually (and is evidenced as) getting everything wrong.
Https://twitter.com/jczuleta/status/1783341306711855359?t=s-TmYxE3BYBxGMj9_KoDEg&s=19
DYOR
As the old saying goes, "you've got to start somewhere".
Looking forward to finding out where!
Not in a rush...
Appreciate everyone has different time horizons and patience is not the same as just allowing Zeno's paradox to become real. On the other hand, there is the legend of Milo who was said to carry a calf each day, as he walked, until it became a bull. Afterwards he could probably carry half the farm and tell a good story afterwards.
Let's hope Bell can Rock...
If you read something occasionally you might understand more.
"This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach."
Pretty straightforward really. All you need to do now is look up AIM Rules and MAR.
DYOR
Pretty much all of those projects should be looked at a bit more closely for the ‘disappearance’ of funds, particularly Steelmin. But the Lithium exports, seen as Hapless won’t dwell on previous failures, does need looking at in the here and now. Who did we acquire the 200t from? How much for? Why were library pics used whilst claiming they were our exports? The dummy run for proving exports could happen/be viable, what is the decision? How much are the port costs for storing the product? Many more...As an extra, other than confetti, why is the Nomad not signing off RNS’s? Reach ones are exactly what they say, and are not worth paying any attention to, unless your name is Maidit who still can’t see the wood for the trees.
Banbury my definition of 'export' would include leaving for China for sale.
'beginning to export' is not the same. AB said watch our export's not watch us start something
Bilbae- watch us start to produce gold
DRC-watch us start to collect money
ELEP-watch the start of the US IPO
Australia -watch us start an IPO
Greenland watch us start a sale
Steelmin- watch us start this
etc etc etc
lots of starting but NO FINISHING
Cheers but there a delay on info for some reason.
Hi Robins
I was picking up on Helpfuls post.
I think the licence is the land and the permit permission to operate and export. Part of the permit is putting 10% into local ownership.
There is also a Reuters article suggesting in Feb 24 the Junta suspended the issue of export permits to small scale artisinal miners. Let's hope nothing serious but Helpfuls post implied we were waiting on something. Time will tell.
Nike 45m of 81m went to three directors. So 55% ish.
The terms were pretty good o.o15p.
No problem with workers but Directors ?
I
Banburyboy the rns dated 27/feb states the license remains owned by red rock subsidiary faso greenstone resources. Am I missing something?
Banburyboy, the initial reading of the share allocation possibly seems large and as I'm in not a mathematician, I'm not goin to try and break it down but think it should it be remembered that the allocation is being shared between employees.
Think it works as two free shares for every one share bought by the individual employees. The shares are set aside at the start and then on a monthly salary basis each employee participating, will have a portion of his salary deducted and will be provided two thirds more in keeping with the scheme. This would be up to a maximum of £1800 annual subscription by employee matched by £3600 contribution by the emoyer, enabled by UK Government SIP share incentive plan.
I presume workers who participate would generally have some sort of positive attitude to the companies they work for, which they would thereby part own.
Maidit
Helpful is implying but not actually saying RRR don't have a permit.
Sorry to burst your bubble but that's bad news not good as it means production is a while away.
Maidit the board paid 0.015p as they got three free shares for every paid one. Bit of a no brainer the only loser is shareholders.
Glad it makes sense to you :)
So that means we can now expect at least 4 bit of good news shortly'' and it all make sense now'' why the BOD has also loaded up with part of there wages a few days back ? and why that 500m share issue seems to be on the missing list with the pittance been traded lately'' and no tr1 to say who owns it ? even the 1m trade today @ 57 look like an improvement on the price buy ?
looking forward to RNS imminently''
Spec
That's very harsh!
On 15th November 2023 we had a proper RNS which was entitled. Lithium Update Exports.
The first truck had left for Beira
Andrew said " we are now begining to export Lithium from Zimbabwe and expect this to be a growing part of the company business"
Not long after Helpful started moaning the NOMAD would sign nothing off and we had the pivot to Reach.
A cynic might say the Nomad and Investers had been fooled ! Personally I would rather they sold off the 200 tonnes at a loss rather than issue more shares.
We are well overdue an update on the mercurial 200 tonnes but doubt we will get one.
Going in the right direction for the past 2 month, but still have some catching up to do before AB decide to sell any IMO, and I make him right'' at least 60% more'' we have all the time in the world'' before this Manipulation in China start to unravelled when they realise that if they want the charge to last longer in these battery they need the king hard rock at least 3% LI and not the 0.3% CAB they are using to hold down the price of the proper stuff''
I am still checking RRR's lithium exports--0
per AB judge RRR by its exports
West African Resources have operated in FASO for decades . So probably a renewal.
Sounds like a bit more than paperwork now Helpful - rather than customs duties VAT and that good stuff as you referred to it.
I'm assuming from your post RRR have not got a permit and that's why your prediction of production last week or this is awry.
Even by your standards the backsliding is extraordinary.
Maidit might have a long wait !!
Https://www.globalminingreview.com/mining/27032024/west-african-resources-receives-mining-permit-approval/#:~:text=On%2020%20March%202024%2C%20the,the%20State%20of%20Burkina%20Faso.
https://www.mayerbrown.com/-/media/files/perspectives-events/publications/brochures/africa/africamining_burkinafaso.pdf/1000
So BF is actively issuing Mining Permits.
DYOR
Gold seems to be holding well above its new base £2300 HP'' MOVING UP AGAIN, all looking good for RRR WHEN WE GET GOING