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HP'' it would be nice to see you post a list of potential under develop asset RRR could put up a for sale sticker on to boost the coffers, AT SOME POINT'' as you are perhaps the only one that would truly know and list, all of RRR asset and what they are capable of in this point in time, to make an inform decision on asset we may hold that is equally good but could take years, even if it's just a discussion point that have not been explored on here
Regards
For balance, I have always said I would like to see AB start a program of selling off asset we don't need ASAP to boost the coffers, and just concentrate all his efforts on the most popular metals on the Market, and the Oil play listing, and FK everything else we are still holding in the closet, if he is, to get to'' that shareholder value he craves.. 3 good project is more than enough for a CO as small as this IMO
hope he will give some consideration to my thoughts.. in the not too distance
IMO, AB have done really well starting production this quickly'' and in the few weeks timeline that he said on that interview, as other posters was spreading fear by saying we won't see any gold for 2 years, with all the setting up and planning permission and studies that they would need, LOL!! I really do think he has proven them wrong, and it will be only matter of time now'' before the SP at these levels start to respond to market forces, that surly cannot be stop when the geologist reports there find'' next week, and also RNS on the plant Machinery arrival to start low key production should also give us a boost'' in all probability although one should not second guest the Market ?
but I think we will see some huge order been filled Monday onwards, but that's just me.... forever the optimist on all things gold, and Lithium ATM, and I have stake my claim on the eventual success of RRR at these levels, and all that sail in her..
Regards
Thank you for the explanation. I am not familiar with with French style Gendarmerie & Military. Burkina Faso must have been under the French in those days. However, I was rather puzzled by the PICTURES shown by RRR of the Gendarmerie & Military. The only occasion I have heard of police and military called in is for GINA, Australia's richest woman at her gold licence area in Ecuador, near Solgold. Why? Artisanal miners had over-run the property before she acquired it. Govt sent the military in to guard her property. That is the ONLY TIME I have ever heard of such a thing. No small mean feat. Even Solgold never had military or police guard their licence at Cascabel, Ecuador, near Gina's licence.
As for Bilbale, I think if one is practical and pragmatic, no point trying to start gold operations now ie huge operations for any co as it would take too long to get going with all the required. So, this small operation at Bilbale, FASO @RRR appears eminently sensible to get some cash flow in. So, with so much ill-will folks, bless the co in its efforts to get some cash flow in at the time when gold is at its all time high ever at US$2,300. The Shanghai Gold Exchange is closed for 3 days for holidays and when it opens shortly, ALL EYES are on this Exchange as it is the biggest in the world so it may indicate the next price discovery. So, as they say, STRIKE WHEN THE IRON IS HOT , so RRR may be in a good place to start quickly and sell the gold quickly to get some cash flow going at RRR. Sensible to me? Not sure about others?
Screenshot shown of the following during the 29.12.78- late 1980:
Copper Lake : 0.08c to $10.50 +13,025%.
Silverado Mines: 26c to $10.63 +3,988%.
Wharf Resources: 33c to $9.50 + 2,778%.
David Minerals $1.15 to $21.00 +1,726%. Etc. 15 co's.
AVERAGE: 2,313% or x23.
15 co's quoted and I recognise the data which is from Casey Research [legendary Casey, gold investor and author].
I recall Rick Rule in an interview saying they bought a gold junior at 10c. It fell to 9c, they said O.K. It fells to 1c. They made a decision---it went to $10.!!! Must be during those times as above as there were several such boom periods in juniors. NOTE: THE SHARE PRICES ARE IN $$$ so the above may be CANADIAN JUNIORS. I will check. But $ means either US juniors or Canadian juniors.
No wonder PAUL JOHNSON has been tweeting lately about ALL TIME HIGH GOLD PRICE IN ITS HISTORY AT US$2,300 and gold mining stocks etc. Looks like everyone is tweeting about the cycles in gold.
https://twitter.com/RULLReturns/status/1776854684499898393 Sun , 7 Apr 2024. Historical data of 1979-80 Mania @Juniors.
CAVEAT: NOT ALL JUNIORS ARE EQUAL. Paul Johnson nor many of the others are naming any STOCK as it is DYOR. NIA.
Interesting. JUST POSTING WHAT IS ON TWITTER RE: ALL TIME HIGH EVER GOLD PRICE AT US$2,300 and gold miners and gold juniors.
Boring Boy is not a bear, he has an agenda separate from being a bull or a bear.
AIM - I've no doubt we will make progress big questions around production, profitability and the profit share arrangement between Riverstone and RRR.
Let's see what happens but as ever here the hyperbole exceeds reality.
To be fair to RRR and Andrew they are more measured in statements than usual its just Helpful that needs reigning in. Interesting few months.
Certain sounds more promising than the 200 tones Lithium fiasco ( Helpful 1 - 5 million tonnes :))
In all fairness the project appears to be moving on at a good pace. I and no doubt other rrr bears will be impressed at the speed of getting gold out of the ground if timetables are adhered to.
News, we are dealing at senior Governmental level, hence why we got the Gendarmerie and military security so quickly. The Government wants us producing as fast as possible and as at as large a scale as possible. How many companies can go to the Government and say, "support us and we will be in production asap".
You don't just pop in the local post office to arrange for Gendarmerie and military security in a few days.... 🤫😉
DYOR
I don't think the uninvested here got enough brain cells to handle the wealth of information you guys bring to this RRR BB and as time goes bye any investor looking in must can see they have nothing to offer but hate on RRR and good informative posters..
some good post again NEWS / HP keep up the good work, don't be put off with there incessant dribble, real genuine investors are 100% behind you guys and a big shout out to H5O'' who always have something different to offer with reasoning that makes sense, every time he post.. even his frustration with AB at times since I have been on here, is perfectly reasonable without been nasty to any posters unlike the trolls...
keep up the good fight you guys'' promote promote promote, as we are in a time that post count really does work, to get us in the most talk about list on LSE, and thus more interest...
Regards
link: https://www.iied.org/sites/default/files/pdfs/migrate/g007117.pdf by djibril gueye. quote: "today, artisanal gold mining is far more than just a survival activity. rather gold produced by artisanal mining is burkina faso --3rd largest export. approach is small-scale mining. other topics marketing gold in the field, buying gold from miners etc. artisanal mining: quarries, ****, waste..." etc.
conclusion:
so, the governmental council etc as above confirms that mining in burkina faso is generally done by these small scale gold mining @artisanal miners. rrr, bilbale@burkina faso: if one looks at the pictures that rrr posted on twitter, one will see that they are all standing on flat ground but the background is huge heaps of dirt. artisanal miners appear to be rather good at it. why? it is rather obvious from the pics that the artisanal miners used an excavator or dug out the area to process the gold mineralised ground.? so, rrr's dr smuts saying, gold , gold everywhere appears correct is it not? why? the artisanal miners had the processing of the soil with gold ready to be processed, hence why the water lined pool nearby and water bore. i note from banburyboy's west africa presentation, that is a big operation which used themal energy etc but nothing like that for small operations as cited by the above title.
next week, rrr will report on bilbale. so, looks like they will start testing at 1 site first. so, if artisanal miners can mine gold in burkina faso = 3rd largest export, i can see why rrr can do it given dr smuts has 30 years experience globally and has a phd. i dont think the artisanal miners in bilbale, burkina faso have phd geo's on site. does it sound plausible? folks judge for themselves given the report i cited from governmental type agencies of gold mining in faso. nothing is said of west african type operations and must be not the norm given which artisanal miner has ----------pre-production capex [capital ] of us$430m. so lesson 101: how can the resident compare a artisanal type gold small operation [or one more organised] vs west african mining , a huuuuge gold operation and only for starters needs us$430 million and that is only capital for pre-production which means big capital for later stages.
my father:if i had told my father that i am comparing rrr, a small mkt cap of £2.04m starting a small slightly better than artisanal mining in faso vs a huuuuge west african mining with 190,000 ozs produced a year for 19 yrs but needed us$430 million for just pre-production capex [capital], i think that would be the last ime he would even hear me out. same goes for an interview as a mining analayst. nuf said. better to wait for nest week to hear from rrr @re: report on bilbale.
no wonder why paul johnson said he knows who to listen to in the forums. someone on the other site told me paul's name and i called up a few posts & paul even then had a lot of common sense. they say common sense is not common.
Https://www.kpmgcareers.co.uk/graduate/audit/audit/
Supposedly Boring Boy invested in RRR 15 years ago. Draw your own conclusions.
DYOR
" In economics you produce until marginal costs = marginal revenue"
Proper mining companies consider metrics like alternative cost of capital, net present value, internal rate of return. All of these risk weighted as FASO has an unstable political and security situation. I'm afraid you need to go back to school with marginal revenue and costs.
I can see you are back peddling on the $550 nonsense. "What does it matter if the costs are $550 or $800m. Cries Helpful realising he's been caught out yet again.
It matters principally as you particularly are an insider and have a duty of care to others on here to use probably considered comments. Fortunately there are many on here to call you out.
Well anyone senior from KPMG looking in needs to have a word with their junior accountant about bringing KPMG into disrepute.
AISC includes capex, finance costs, G&A and replacement costs. Ie., it is not about the marginal costs of production. Are we interested replacement costs? No, we mine the Bilbale alluvial deposits till it is gone and then Sam removes his kit. Finance costs? Zero, it is all Sam's kit. Capex? It is alluvial not hard rock. The most you would do is a bit of auger drilling during production.
If we were doing a large open pit mine to depth, mining hard rock or going underground then things like drilling, mine design, project feasibility studies and banking feasibility studies would be appropriate just as they were for Migori and Tshipi.
AISC is not the right measure for RRR, margin and free cashflow are.
So it appears we should have the first wash plant on site in the next weeks (as always allowing for delays). Why do we need to spend $400m on capex?
Likely the alluvial deposits at Bilbale will be mined out in 3/4 years but in the meantime we will have the hard rock in production.
DYOR
RESIDENT:
"I'M NO PETROLEUM OR GOLD EXPERT but what I specialise in is calling out and highlighting H... [cannot repeat]."-VERBATIM .12:42, Sun, 7 Apr 2024 on London South East RRR.
NO DENIAL FROM RESIDENT: HIS CAVEAT:
--So, from my 2 posts on ANALYSIS of the track record, the resident now admits he is NO petroleum or gold EXPERT. --
RRR @BILBALE, BURKINA FASO:
For his "in BLACK & WHITE", the resident cites WEST AFRICAN RESOURCES , ONE OF THE LARGEST PRODUCERS IN FASO.
The resident gave a link to the West African Resources presentation and quotes: ALL IN COST OF PRODUCTION $1, 052.
Resident quotes THE KIAKA GOLD PROJECT , pg 12/30 to compare Bilbale @RRR Faso. My goodness: "KIAKA GOLD: 19 YEARS AT 2 2 0, 0 0 0 OUNCES AT YR."!!! PRE-PRODUCTION =====C A P E X : US$ 4 3 0 MILLION."
I have to check what the resident stated as I have shares in RRR. Just by looking at the presentation the resident provided a link to, I can say, THAT RRR @FASO, Bilbale WILL NEVER, I REPEAT NEVER BE A US$ 4 3 0 MILLION CAPEX RAISE.
It is IMPOSSIBLE for a £2.04m mkt cap co and RRR never said their capex is US$430m.!!!!
Per the resident, he said H quote 5,000 oz for RRR Bilbale@FASO [Burkina]. Anyone will know from going round small gold forums that 5,000 oz operation for RRR is small and therefore, it is to generate cash flow for the co which is helpful.
Hmm. Dont think the resident reads the link he gave carefully.? Suffice to say, for me, his thesis fails by comparing a co that has started with US$430m for pre-production CAPEX @220,00oz a year for 19 years to be comparable to what the artisanal miners left behind to RRR, a mkt cap of £2.04m?
A.BELL NEVER GAVE GUIDANCE OF US$430M PRE-PROUCTION CAPEX , so to compare such a large capex [pre-production] to a small antisanal left behind is rather strange? Puzzling? Just askin. Sun, 7 Apr 2024.
" Seondly there is no cost of finance as Sam the man owns the kit"
SAM won't be stupid and will be recovering the cost of his kit from the gentlemans agreement he has with RRR . He's not a charity.
Also current effective rate of FASO taxes -is 45% corporation tax 27.5%, 10% mandatory ownership 7% royalty at these gold prices 1% community.
On its own that's more than the $550¡production cost quoted by Helpful.
It needs properly costed numbers like West African Resouces not Helpful throwing out numbers he likes to ramp this share.
So far :
1 - Our Faso operation will be processing 1,100 tonnes an hour !!! He's been called out by numerous posters. Its a ridiculous statement.
2 - We will soon be producing 5,000 ounces net to RRR. Sounds like a judge us by our exports promise.
3 - The all in cost is likely to be less than $550 per ounce. Lets consider that last Pinocchio :)
One of the largest producers in FASO is West African Resources.
There KiaKa prospect is huge but similar to us in terms of open cast but monsterous in terms of scale. Pulled straight from their presentation.
Slide 12 - tax 27.5% Govt participation 10% equity, 5-7% royalty 1% community fund. 42-44% take.
Slide 13 - All in costs of production $1,052. They will have a huge advantage in terms of mechanisation / economies of scale compared to RRR.
But Helpful would have us believe our all in costs are less than $550.
Some of his ramping as an insider is really brazen. DYOR but its here in black and white.
I'm no Petroleum or gold expert but what i specialise in is calling out and highlighting Helpless bulls*it.
Enjoy the weekend all
https://wcsecure.weblink.com.au/pdf/WAF/02786344.pdf
Contd:
GOLD has NEVER hit $2,300 before and it is an all-time-high. So, hence why juniors with gold resources have risen in Canada eg silver juniors etc. This is due to the price of gold at the ATH. I posted Paul Johnson's tweet about the gold cycle and junior stocks.
RRR: The timing of the GOLD PRICE AT ALL TIME HIGH OF US$2,300/oz has come JUST IN TIME for RRR and all gold juniors. Why? It would appear to underpin their situation IF they have a resource [ie JORC]. However, for all JUNIORS, they are dependent on $$$ and Paul Johnson says listing costs a lot of money at some £200-£300k a year [check the figures]. RED ROCK RESOURCES: MKT CAP £2.04M at 0.06p [ALL TIME LOW]. RRR has hit into the GOLD CYCLE AT ALL TIME HIGH so that saved the day.
MY INVITATION TO MEET AT THE FCA TO BANBURYBOY et all: No one has taken me up on it as I can show ID transparency but the other/s have to turn up as well. The FCA is a regulator and will be an impartial party to check everyone's ID. They will just take a look or ask the MM's if they see any UNUSUAL patterns of TRADING as norm? MM will attest NONE. Look at the 22 share trades of RRR a day or less earlier. A few days ago, £7k in total volume. Unusual? LoL. I am sure everyone hearing will be in FITS of howls of laughs. Why? What is the fuss over small trades of £47 buys into RRR on Fri, 5 Apr 2024 after RNS. As Richrich1 has seen me at Solg with research, I tend to post on 1 forum and visit other forums. But I dont interfere in other people's stocks. There is a basic sense of morality that IF not invested, dont point this or that to the invested. Why? There is always the margin of error as one cannot know everything if one just looks on casually without any in-depth look as norm. I am sure Banburyboy doing whatever he does "IN HIS TRADE" [his own words] may be ....[fill in himself as only he knows] but suffice to say, Paul Johnson said he KNEW WHO TO LISTEN TO when on forums at the time. So, I dont think anyone can blame me IF I dont listen to the resident. Why? Its my money and I CAN THINK FOR MYSELF. That was the whole point of school - one is thought to THINK for oneself. But, then , our resident wants to think for others? Yes, No. CAVEAT: RRR is like any other junior gold stock. Even Solgold with its copper, silver and gold needs $$$ to continue listing and therefore, NO co, be they on the FTSE or AIM can say, they dont need $$$. For FTSE co's, one will need even greater skills of financial analysis as accounting analysis is not as easy as folks think and from an article on AIM, he said even the professionals MISSED POLLY PECK etc. How about FERRANTI, not a tiddler either? So, with that , have a nice weekend. News, Sun, 7.4.24. DYOR. NIA.
I read through BanburyBOY's postings & here is the analysis:
-Despite him saying he has been on this forum/s for 5 years, his LSE date of joining: 13 Oct 2020 [Profile page] =3yrs+.
He didnt start posting then at RRR but various co's eg Revolution Bars BEFORE suspension, then AFTER suspension. Reason for suspension : FINANCIAL RESULTS DELAYED. Five days ago, Revolution said it could have to close venues etc. It is still suspended at 1.2p and the high was 8.05p. He also posted on SAGA & I checked the share chart & it has also NOT risen but going sideways. Both these shares have a lot to do with the ECONOMY.
OTHER STOCKS: Banburyboy posted on other stocks but never stays long and in more recent times, he posted 8 times on ZPHR, currently 4p. The all time share chart shows: M I N U S -99.58%. So, not much different to the share charts of the commodity sector which I posted yesterday.
Conclusion:
Every accountant has to do VALUATION of assets. But it would appear that he DOES NO VALUATION at all of the RRR assets. Does not look like he has the EXPERIENCE either of investing in stocks like RRR. But Paul Johnson working as a loss adjustor in an insurance co with small capital could buy into RRR and it gave him a life changing experience. I posted Paul's tweet which just came out about RRR and he himself talks of RRR in particular then and now vis gold cycles. So, lets say at the moment, I wouldnt follow any stocks of this resident who is NOT INVESTED IN RRR. And the above says why -if in the USA, then they RANK for how many time right, how many times wrong , so that the INVESTING PUBLIC are cognisant of who they are listening to? I have checked all the posts but some to get an idea so that there is some balance in the evaluation.
CHARTERED ACCOUNTANT
On Harbour recently, he told spec he is "ACA KPMG".
Conclusion: He posted before on RRR but never called MAIDIT308 and HAWAIIFIVEO names. If, a accountant, then how did he miss that Revolution Bars was about to get SUSPENDED and still cant back from suspension due to unable to publish results? From the last results report, it could have shown the usual financial signals? However, I note he has NOT INVESTED IN JUNIOR MINERS BEFORE. So, if he has really put money into RRR and LOST, then, one may have to conclude it is investing WITHOUT due diligence of the SECTOR. I showed BOTH the JUNIOR MINERS ETF chart vs individual shares of these juniors and they CONCUR. Oilplayer2009 did an analysis of 40 juniors and they also show MINUS -80% in late 2023 but they have fallen further. I also posted VALUATION techniques of BROKERS and junior explorers do HAVE ASSETS eg RRR with Mikei Gold [hence why A.Bell has it on his Linkedin of 1.2moz gold and which First Equity has attributed $13m vs £2.04m MKT CAP to the valuation of RRR based on US$1,750/oz gold and given both Indicated & Inferred at $25/oz and $4/oz. Takeover in M & A is $30/oz. GOLD HAS HIT THE ALL TIME HIGH [never been at $2,
Don't need to be a Petroleum expert. Rather long suffering holders actually judge you / RRR by results.
Merely notice that I think RRR swapped its Ltd share for Corp shares I think in May 21.
An IPO we were told was in the next few months summer 2021.
Very much in mould of DRC massively over promised and undelivered. Three years later we are further away than in May 21.
Don't need to be a Petroleum expert just have a modicum of common sense.
Any more ridiculous FASO numbers this morning ?
So lowest production costs in the world are circa $1000.
RRR of course might be lower than $550 !!
Neighbours of Elephant now in a position to drill the Damara Fold likely in June.
https://x.com/ElephantOil/status/1776607138980438445
Big numbers. No doubt Boring Boy will be on later having morphed into a petroleum economist.
DYOR
Very busy last night.
The theory expoused by H5O is anyone posting this much relentlessly on a minnow like this must have an agenda. Perhaps he's paid ?
LSE cut a bit out.
It looks like the operation will be a main camp with a number of satellite camps.
This tells you about AISC https://www.gold.org/about-gold/gold-supply/responsible-gold/all-in-costs