The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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Do the research and the reading. The recent RNSs have been clear enough.
I expect we will hear on the initial drill samples at Luanshimba tomorrow or Monday. I suspect Monday because Friday is a bit of a dead day for RNSs.
I expect another week to ten days for the first sample results from Migori.
In the meantime, RRAL is proceeding along and other companies are doing well in Victoria.
Elephant should be listed before the year end.
Juno will be awarding contracts for the contract mining before the end of September. I expect them to be mining at the start of Q2 22. After that, they will give attention to the haematite in the transition zone between Mt Mason and Mt Ida. I expect them to come out with news on the transition zone mid 22 and that will likely trigger the first of the $4mil payments due from Anglo Pacific.
All going well as far as I can see just a bit slower than we would all like.
You should always read everything: in the broker note yesterday on page one it said this.
"The Company currently aims to create two significant listable JVs in other major gold provinces, thereby creating further upside"
So IPOs: RRAL one or more IPOs (a lot of licenses and could be more than one IPO), Elephant Oil and two others.
Fingers crossed.
DYOR
Helpful it is nice to see you so positive about this share but there does seem little appetite for this share at the moment. I am over 90% down and am eagerly awaiting AB to come up with a winner but past experience tells me he never does.
Good news for Elephant.
https://www.eni.com/en-IT/media/press-release/2021/09/eni-announces-major-oil-discovery-block-ci-101.html
It will increase the interest in its Benin asset.
DYOR
Good news for RRAL. It looks like ECR thinks they can construct a mine just to the north of some of our licenses. Any good news for Victoria, is good news for RRAL.
https://www.lse.co.uk/rns/ECR/property-purchase-within-the-creswick-license-area-d1f1w9r2x59g3im.html
https://twitter.com/RRR_RedRock/status/1433389795657588744?t=c-AjYTcdS14IWVT4zjmUww&s=19
PS as we add ounces, move indicated up to inferred and improve grade by working in the areas of high grade we make the project more attractive to a funder.
It will be a trade off between spending more money on drilling to improve the grade and increase ounces but not improving the value of the asset. At some point spending more money makes only marginal difference to the value of the project.
I don't know where that changeover is but it is not here or near here.
DYOR
Some interesting stuff in there.
Uses $1,700 for gold (rounded down to the nearest $100). Current gold price is $1,813 and so as of today they would use $1,800. They use 1.5% of the spot price for inferred.
On that basis each 100,000 oz of inferred add is valued at $2.7mil. AB has given numerous interviews where he states that RRR can and should find gold at a cost of $10 per oz: industry standard is $30 an oz.
So on the above basis each 100k of new inferred resource should cost $1mil and be valued at $2.7mil.
Moving the indicated up to inferred at Migori adds about $5.5mil.
So the two big steps forward are moving indicated up to inferred and adding ounces.
After that, it is the feasibility study.
DYOR
https://twitter.com/RRR_RedRock/status/1432996669096878090?s=20
https://twitter.com/RRR_RedRock/status/1432612639914532866?s=19
Yawn II
Yawn!
https://twitter.com/CaracalGoldplc/status/1432303198673543168?s=19
Neighbours of ours in Kenya.
DYOR
https://twitter.com/darrenhazelwood/status/1432266147626356739?s=19
Agreed HD. I have just noticed that as well! Interestingly the RNS does not mention his disastrous stint at Metal Tiger plc and BMR!! If I was a large shareholder in RRR I would be very worried indeed. Perhaps he is being lined up to takeover from Bell!
Gold on a bit of a tear up.
just seen that Borelli joined RRR now too. As if having Bell wasnt bad enough!
ECR
https://www.proactiveinvestors.co.uk/companies/amp/news/958565?__twitter_impression=true
https://twitter.com/graddhybpc/status/1430140040777289749?s=20
It looks like RRR CEO Andrew Bell will soon spend £100,000 of his own personal money to exercise 10 million of his own POW warrants.
https://www.lse.co.uk/rns/POW/insider-warrant-update-32ttbjebxxpw8iw.html
If he does soon spend £100,000 of his own money on exercising his POW warrants I don't think many here will appreciate it after all he recently sold around £10,000 of his own Red Rock shares.
The 17th August Power Metals RNS says Red Rock Resources had completed and spent £200,000 to exercise 20 million of its Power Metal warrants.
Power Metals saw that as worthy of releasing an RNS. So when Red Rock have just spent £200,000 on exercising it's Power Metals warrants why doesn't RRR CEO Andrew Bell think that is also worthy of releasing a Red Rock Resources RNS?
https://twitter.com/MarkEJFairbairn/status/1428352299206729736?s=20
https://twitter.com/RRR_RedRock/status/1428275052101967872?s=19
A new source of capital. It had been predicted but now starting to happen.
DYOR
https://twitter.com/HedgehogTrader/status/1427966078362206217?s=19
https://twitter.com/StockBoxMedia/status/1427984597946621959?s=20