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Ah you are such a pleasant chap. What happened to the claims of filtering me?
Anyway, I will pop over when there is news. Which may be sooner than you think.
xx
https://twitter.com/StockBoxMedia/status/1469296634915864576?s=20
Much, much better and to the point.
Note the comments about the copper at the Macalder Tailings. A big upside. This is all about preparations to monetise what is there at Migori.
Rumble Resources: he has confirmed that we have won the ballot on leases between two leases that Rumble have. https://rumbleresources.com.au/projects/warroo-project/
There is a trend from one license to the other that is prospective for copper and zinc. Looks interesting but not sure if fits with a gold company IPO.
DYOR
Wondered where the pumping k.unt unhelpful is these days
He’s obviously got bored on the NTOG BOARD
The applications he is referring to are:
1. Mining license for the Macalder Tailings: 68k oz of gold and 1.28mil oz of silver plus 0.3% copper
2. Mining license for the hard rock Mikei Project
3. Dealing license so RRR can sell the material extracted.
NB there are other tailings on the license area other than Macalder but no work has been done on them.
DYOR
https://twitter.com/proactive_UK/status/1468935471543857161?s=20
Worth a read and notice the arsenic anomalism as a pathfinder......
https://www.londonstockexchange.com/news-article/ECR/drilling-production-report-replacement/15228329
Compare it to the RRAL/NBGC update.
DYOR
Tray556 - who knows! We won't have a clue until the prospectus. Just don't buy into the BS that this will be £15m on RRR's balance sheet post IPO.
It's possible that the IPO is a success and they raise significant funds which means RRR's holding will be materially smaller than 51%. Or you get a flop case like Juno where they only raised about 20% of the amount in the prospectus and the shares tank because - less cash -> underfunded -> next fund raise pulled forward.
Do you think having RRR and AB involved in the NBGC IPO will be a help or hinderance? AB has no credibility. If the market was so enthusiastic about these assets then why is RRR at such lowly valuations - it isn't due to relentless selling...
https://twitter.com/RRR_RedRock/status/1468593378652835843?s=20
They already have a JORC 2012 resource. Even you should know that that the current drilling is infill drilling and step out drilling.
Maybe if you read an RNS or two or did some research you might understand what is going on. I am sure you can Google infill drilling and step out drilling.
DYOR
He had great confidence in Greenland........add the rest of the places yourself.
Interesting comment
"We have great confidence in the potential and prospects of the Mikei Gold Project, and will look for ways to accelerate its progress in 2022."
Is that a hint?
DYOR
50.1% ..... 49.9% pow...
How much % will be retained following IPO... Market Cap £6m looks cheap.
He said previously that he thinks there is up to 10mil Oz there. Looks like he could be wrong, looks like it will be more.
DYOR
Finally a concise and well written RNS concerning Kenya, I like the references concerning higher grade with the potential of a very a decent resource upgrade.
https://www.investegate.co.uk/red-rock-resources--rrr-/rns/kenya-exploration-update/202112080700068977U/
To be fair to Helpful Bell has said several times once this spin off has been done it will be worth more to RRR than the current market cap. And he has stated that at a higher share price than now.
A year ago I think he would have been right. But I’m still hopeful it could be worth 5 million to RRR even without drilling results. Otherwise I would have sold out by now.
True KimiR .... what are you thinking maybe keep a third between POW/RRR and allow new investors to buy up the other two thirds? Or do you think the split will be even more in favour of the new investors? I was only summarising in my comment as I don't think £15 million will be added to RRR's balance sheet straight away post-IPO. I'd argue there will most likely be a decimal point between the 1 and the 5 and it will be around £1.5 million. The most important thing here is if £5 million can be raised, then the drill bit can go crazy for 12-24 in the region and some of these drill targets look juicy. I guess being able to raise £5million at the moment is a big IF. If they can and the drill bit finds something huge then you could be adding £100mil+ to the balance sheet of both RRR & POW!
Well I doubt that this lists before Feb. The valuation will be influenced by a few things: the gold price, drill results around us, our drill results, general market conditions and how much is raised at pre-IPO.
I don't know how much they intend to raise but better to go low on the valuation and have a strong after market.
But it ain't zero. Today's RNS was pretty bullish.
DYOR
So you think that POW and RRR retain their 50% interest post an IPO? How does that work? Are investors now participating in fundraises for no shares? Incredible bit of business!
Helpful - So you think NBGC will be valued at £10mil to £30mil MC if it is going to add £5mil to £15mil to RRR's balance sheet? I think that is a very optimistic valuation but I hope you are correct! I cannot see the IPO raising anymore than £5mil in total (£2.5mil valuation for POW & RRR's balance sheets respectively) in this sort of market.
It is interesting to note the drills should be spinning in December 2021 so pre-IPO. Are NBGC hoping for a hit on that first drill to increase the IPO valuation drastically? I guess with there being so many licences & drill targets under the NBGC umbrella, even if they hit absolutely nothing it won't really effect the IPO valuation. I guess if they can get a cheap drill programme going pre-IPO it could work wonders to the IPO price.
POW version
https://twitter.com/PowerMetRes/status/1468174258312564740?s=20
Well I have read that twice and it reads well to me. It looks to me that they are saying that they think they have decent gold and that they need to prove it up by a bit of drilling.
If they start drilling December, they should have the initial results middle/late January 22.
Looking good for the IPO.
DYOR
He won't get voted out. He is key to what is happening.
DYOR
Todays RNS confirms it. Yet is currently being valued at next to nothing in the market cap. That shows the faith the market has in the current management of RRR.
Still I have held this long, maybe he will spin this out before he gets voted out.