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wow thats great news. A post like that is usually a sign that shares have bottomed out.
Surprised this stock isn’t bankrupt yet get out while you can
On the Red Rock Resources Telegram group
Where did he confirm it? I can't see anything on Twitter.
This evening Andrew Bell confirms he is in the DRC. Maybe an interesting week next week.
We are due Gold assays from Australia too
18 years old failure. It's not going to change now
These two were wheeled out fifteen years ago as game changers.
It's all pie in the sky.
DRC news still imminent !! Hope for holders it happens but don't hold your breath.
Another week without any DRC news. What is AB doing? Anyone know?
Not necessarily. The messaging has been moving around as market conditions have changed.
Back in the day the bit that Jupiter were interested in was Mt Ida. The banking feasibility study was 70% complete. If you read recent announcements they are reworking that BFS.
The plan at listing was to get Mt Mason up and running then use the cashflow to fund Mt Ida into production. They are well behind the original schedule. Mt Mason is haematite and the price is has been more volatile than magnetite. Plus magnetite is now seen as a green feedstock for green steel so the price has risen.
So it looked like Mt Mason had slowed down and Mt Ida had come to the fore. This last update seems to indicate that Mt Mason is again the favoured son.
If they pressed the button now, they could probably have Mt Mason in production later this year and Mt Ida late next year. But as I said, they keep moving their plans around. If they can get funding, maybe they go straight to bringing Mt Ida into production.
My view is that they will commit to something very soon: maybe by the end of March, if only because they are starting to run out of cash. They either need to do a deal or do a raise.
Another issue is China: it has opened up and Australia is no longer on the naughty step. China has resumed coal imports from Australia and so iron ore exports should be okay too.
https://www.fool.com.au/2023/01/27/fortescue-share-price-hits-52-week-high-on-record-half/
DYOR
so a long way off then.
https://twitter.com/RRR_RedRock/status/1618944561824555008?s=20&t=tISdIdMrkcEsoUY6MlEhrg
P7 it is a huge operation if it is brought into production. There is more haematite and magnetite there than the JORC indicates: Jupiter stopped drilling before they had fully established the extent of the resource.
Likely there is more than 2bn tonnes of magnetite ore at Mt Ida.
https://www.junominerals.com.au/cproot/1009/3/Juno%20Minerals%20Limited%20-%20Prospectus%20Final.pdf
Commodity prices are moving up now China has opened up. That should apply to iron ore too.
These projects are normally funded via bank debt rather than equity. So they need to complete the banking feasibility studies.
DYOR
BS-Are saying the Congo news about the arbitration is not true? or false or misleading in some fashion?
Bell end needs to go and an independent report done on the DRC Arbitration. How many times can he cry wolf and dilute shareholders to pay his wages ???
royalties to come eventualy then. seems like a big opperation?
There won't be any updates now until they have raised the money and list.
Any Elephant oil update ?
Well I was hoping we would have good visibility on it by now. The next step is the EIA which is prepared by a third party. That should hopefully be done soon, hopefully by the back end of next week. Then it is down to when we get the nod and we can get all the ducks in a row. It will all be contract labour and machinery so that will be down to the third party contractors but it seems that there is a vibrant local industry doing all that stuff.
It is not done till it is is done and these things have a habit of left field events but I would hope we would actual revenue early to mid March. Originally I was hoping it would be earlier but things always take longer than we want.
Luckily Zimbabwe wants as much lithium produced as possible because of the royalty it takes and the taxes on the profits. So you would expect that any regulatory issues would be dealt with quickly.
The next big issue is the grade. We need 2% to sell in the local market and so we have to mine in the right areas. Maybe a bit of sampling needs to be done.
One big thing that has become apparent from talking to a geologist at another company experienced in lithium in Zimbabwe is that whilst you might see 1% grade close to surface, usually the grade higher lower down. Lithium is volatile and it evaporates off due to weathering at surface. So you only really know what you have got once you start drilling. I would hope that we are drilling during April/May and that Beatrice (the second license) is in production by May.
DYOR
An Environmental Impact Assessment ("EIA") is now being prepared for ALR's Tin Hill property, 29 km North-West of Bikita in South-East Zimbabwe. This is expected to be completed by early February, and the process of preparation of the site for mineral extraction and sale is expected to be completed some two weeks later.
Morning Helpful,
When do you anticipate the Lithium to be in production?
Mid Feb?
End of January cometh and another month of failure No EOC no DRC.
But atleast AB and the board get paid lol
Spec you are dealing with AB and smoke and mirrors are the norm.
see https://www.glencore.com/media-and-insights/news/glencore-reaches-agreement-with-the-democratic-republic-of-congo-over-past-conduct
Glencore reaches agreement with the Democratic Republic of Congo over past conduct
posted: 05/12/2022
Baar, Switzerland
5 December 2022
Glencore has reached an agreement with the Democratic Republic of Congo (“DRC”) covering all present and future claims arising from any alleged acts of corruption by the Glencore Group in the DRC between 2007 and 2018 (“Agreement”). This includes activities in certain Group businesses that have been the subject of various investigations by, amongst others, the United States Department of Justice (“DOJ”) and the DRC’s National Financial Intelligence Unit and Ministry of Justice.
Under the Agreement, Glencore International AG, on behalf of its Congolese-associated companies, will pay the DRC US$180 million and will continue to implement in the DRC the Ethics and Compliance Programme the Company committed to continue to implement in its resolution with the DOJ. The Agreement is governed by Congolese law and the only admissions made are in respect of the conduct already acknowledged in Glencore’s resolution with the DOJ.