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Not very much but enough for us to be very happy with it.
The issue is that we just want to skim the top off the resource and not disturb it. We want to be able to drill it at a later date and determine a proper resource. Secondly, the price that we can sell the 2% DSO for is a fraction of the 4.5% export grade product.
So we want to generate enough cash to fund activities but not sell so much that we are cutting our own throat.
We also want to fund a second EMP for Birkita and bring that into production too.
So we need enough cash to move up in the 4.5% grade on Till Hill, define a resource, bring Birkita into production and then move that up to the 4.5% grade.
There will be a bit of toing and froing but it looks pretty good to me.
Down the road we want to progress our other licence applications.
DYOR
Helpful well played. You are going to make multiples of your £100k investment
5000 tonnes per month once ramped up
Very approximately, how many tonnes are they likely to process per day for the initial DSO operation?
Panda said $951/t not $95.10/t. You are out on that calculation by a factor of ten.
For the 2% DSO all they do is blast, dig, move, grade and sell. For the 4.5% operation there is more involved. In the 2% DSO the costs are de minimis.
DYOR
so if production rate was 10,000 tonnes per day gross income would be $95,000 per day. RRR is 50% partner, say another 50% for costs. This means RRR would net 25% of $95,000 for about $23,750 per day or $712,500 per month, $8.5 million yearly
if my math is correct
Core lithium recently sold spodumene DSO with an average grade of just 1.4% for US$951/t. Insane prices.
To put that in context a tone of gold ore at a grade of 1g/t sells for around $35/tonne
Here's an article about lithium DSO projects where mining companies sell unprocessed ore
https://www.google.com/amp/s/stockhead.com.au/resources/cash-is-king-this-is-how-advanced-asx-explorers-are-aiming-to-profit-while-lithium-demand-is-insatiable/%3famp
Given that I put $100k in you might think that I would know exactly what those numbers are.
A couple of problems: I am not sure that the company wants those numbers to be in the public domain yet and I am not sure how the FCA might regard those number being put in the public domain.
There are two different numbers: 2% ore for the local offtaker market and 4.5% for the export market. If I can find something in the public domain that gives those numbers I will post them. The second is a multiple of the first.
DYOR
Left field event. Market hasn't woken up
Looking very interesting now.
Did you get a tip off Longterm? Great timing lol
do you want to take a stab posting what those numbers might be?
Wait till people find out the numbers. The NOMAD wouldn't let RRR put anything in the RNS because it might be deemed to be a "sales forecast"
We are now a producer generating profit in 2023 !
Very good news.
ALR and RRR should be making some decent money pretty quickly.
DYOR
Refreshing to hear Longterm, the management has always been the issue. I've only stuck around to see if AB gets his long overdue comeuppance. That last RNS was trying to deceive retail and a management with integrity doesn't do that. It's just one example of many, especially over the last few years.
Hope it works out for you. Godspeed.
Not really a tradeashare with a 32%spread
Kim, those shares will be taken up swiftly when the arbitration is signed off. If will happen. VUP want their money too. I suspect a compromise of afew million of damages will be waived by RRR towards VUP.
Other projects are ongoing
Yes, and if that happens then I will take them and more, and unwind this POS managed mess for what it is. For too long here people have had a free lunch. Total selfishness of a few and this (if those fears, or fears over asset legitimacy) come to light, then it will not end well for those bad actors. Scummy little back door deals have happened for too long (which is why the trading for me here has had to prioritise the investing). I have a whole encyclopaedia of lies and nonsense I’ve been told by the people here.
Best one yet was the day after TR1 saying I held 4.55% had Andrew bell calling me up begging for more money on a PP. I said I would do it if he took a pay cut. That was nearly 3 years ago, and he’s been realistically paid more, delivered nil. Many more stories like that from others involved too. An active poster here - giving it the ‘big one’ about shares will hit 22p (you read correct) at end of 2021, and how they are so valuable (then sidelining me if the bid right then they would sell all their shares’ - stinks like S. game is up and people better hope it’s just been poor management rather than anything more cynical. Can’t take action against a bad management, at the end of the day it’s the risk shareholders take - but by goodness, when a handful of people have done well and made money, whilst 99% of people have lost money at their expense. Then there are big big issues. So let’s hope that things have been done right, but it will be uncovered soon.
Longterm, any concerns that you'll just be providing the liquidity for DMH to dump into?
Welcome back, it needs someone with clout to get involved, at current levels it is relatively inexpensive to secure a decent position, I am sure many would support changes, in the right hands RRR has some reasonable projects which could deliver significant shareholder value.
I added some on Friday as IMO it is a bit of a no brainer, the stock has fallen 80% in just 10 months.
These are the facts
When the arbitration is signed the shares will rocket.
Remember VUP do not get the rest of their share without RRR's signiture
People will see a few buys this morning, and that’s just the start of it. I have a lot to say here, (will get to that as the coming weeks play out) about particular people. I last sold 22m shares from 0.65 to 0.50 and got out, due to the delays and total lack of transparency.
When I last owned 4.55% of this company I bought in at 0.17-0.22, selling above 1.00 for most after the information being offered to shareholders was not clear.
However (not trying to sound arrogant, just trying to help others), I tend to rarely get this one wrong (from a trading perspective, an investment position is very different).
And a lot of these buys will be me. Hey, perhaps this time I just keep going and see how much of this we can get forcing a change of control. Let’s see, but trading wise, this will be fun. Always is.
There was a Twitter post on RRR some months ago showing historic market caps and share price at year end over 18 years since RRR was listed.
At current levels --->
The share price has only been lower 1 time over 18 years - at year end
The market cap has only been lower 4 times in 18 years
I would suggest buying currently offers a good bet for some upside, as for shorting, would anyone really want to short RRR (assuming they could) at the current m/cap when there is a possibility of the Congo cash ($7.5m-$10m) sitting in the background.
DYOR etc.
When the arbitration is signed the shares will rocket.
Remember VUP do not get the rest of their share without RRR's signiture. Hopefully by end of the month