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I see another CO that was 0.045p last month called KAT doubled in the last two weeks on prospect of getting back £790 k
there RNS today was saying nothing really it's all about exploration no first gold next month like RRR but done 25% today ?
LAKE VICTORIA GOLD - IMWERU PROJECT
Under contract, the Company is due €792,000 from Australian private company Lake Victoria Gold ("LVG") following the transaction involving a joint venture agreement covering the Company's Lake Victoria gold interests to LVG in March 2022.
This liability was disputed by LVG and the Company has further reviewed with legal advisers the matters raised by LVG and the Company has decided it will be pursuing the matter further by taking appropriate further action.
NEW OPPORTUNITIES
As previously stated, the aim of Katoro is to focus on high impact exploration and development projects, rather than a diverse wide-ranging portfolio, enabling the allocation of working capital into focused business interests.
Potential additional opportunities have been identified by the Company and its advisers, with review work of these prospects currently underway in respect of project suitability in respect of various project options.
Whilst the Katoro Board remain confident that new opportunities can be added to the Company's portfolio, until formal agreements have been signed shareholders should note that there can be no guarantee that such additions will be completed,
FK knows why we can't get a rise lately on some excellent news ?
see what next week brings, we have waited long enough, what's another month ?
Https://twitter.com/TaviCosta/status/1788966894420017425?t=W49JA-kA9dm6B9o-oOCd1g&s=19
DYOR
Showing a lot more strength than first thought, and suggest it have now form a new base @ $2,330 if it holds 2,350 or above before closed this evening, see what happens'' exciting times ahead''
NIKE'' DRC is worth £10m on our MC on it's own without OZ IPO @$20m, without ELEP'' without BF GOLD, without Lithium when export start again, without royalty'' SP is now well under option Money RE: NEWS'' until the dots start joining up IMO'' so all in all there is nothing to see here ATM, or to argue about with anyone... all we have is GOLD GOLD GOLD FKN everywhere, and when we start digging it out RRR will be a different animal especially if DRC cash comes in at the same time, that would be such a huge bonus that holding back the rise would be criminal
good weekend all
regards
Cool Banbury, with time frame, I will always mean assets and outlook. Enjoy the good weather and cycling...
Regarding possible product in June, feel free to take a good couple of weeks off... : )
Banburyboy I have to admit whenever you challenge the Company specifically on an issue ( particularly facts on whether the money has been spent wisely or on costs or strategy ), his adviser Helpful goes into silence mode. If I had his knowledge surrounding the company that he obviously has then I would challenge you to the end of the earth but he chooses not to.
Thanks Nike - off to enjoy weather cycling's my bag and two weeks in Estonia in June ( so I will miss first gold in Faso) there was a time when I could do nothing for three months and do 70 mile a day for a fortnight but at my age need to do a few practice runs !!
Your entitled to your opinion Banbury, as you know I am neutral on your "lost bit of weight" and probably have a more generous time frame.
A royalty can also have a generous time frame...
Cheers
It's strange Nike but the guy that should be presenting the case for the defence Helpful is missing in action.
He has me on filter. He belittles everyone but I'm on filter as I run rings round him when it comes to RRR and legitimate concerns / questions / suggestions.
One solution for RRRs cash isdue is to forward sell the Soma gold royalty it would avoid destruction by dilution and is the most portable /saleable straight forward asset we have [ the same could be said of Lithium but I honestly don't believe the 200 tonnes exists anymore] .
Although not related it shows resilience, and a super human intelligence and strength the likes never seen before'' a good watch while it's quiet https://www.youtube.com/watch?v=6awTosollHU&t=39s
god rest his soul....
Thanks Nike
Simply wall sheet just work on proforma assets at face value.
I think there is a reasonable expectation by them that the assets are assessed for impairment during the year. Its for the likes of me and you to research if they are.
As there is no active market and impossible to value the agreed area of interests approach [ the auditors cover themselves well] allows assets to recorded at Cost NOT valuation. [ That is key]
This will lead IMO simply wall street to over value total equity and all the resultant metrics look better than they really are.
Enterprise value - market cap plus short term debt I think is the most appropriate for RRR so £2m plus £4m = £6m. That's where Mr Market is now.
Thanks Banbury,
I have done some initial basic research regarding the terms of reference you included so probably have improved my knowledge slightly.
You correctly referred to experts and I think we can agree that Littlejohns auditors are expers regarding the accounts of companies.
I think it also reasonable to postulate that the Simply Wall Street platform does provide access to expert analysis of companies which is fairly up to date and quite easily accessible.
A couple of things I did note from that website was that RRRs debt to equity was 19% which was deemed acceptable. The cash runway was deemed acceptable via the green tick without a cut off but the estimation is not 0 months because of the most recent fund raise since the month it was obviously required...
Obviously the sale of an asset or the most recent fund raise helps the company remain a going concern in the short term, I think if casflow was to be achieved inthe months... ahead, that will help.
I'm not quite as negative as you regarding "no tackers" because takers require givers and only the company will have the strongest ideas on its potential tactics there.
All the best...
Hi Nike
Note 1.4.8 of the accounting policy explains the rather unusual policy of valuing the £13m of exploration assets. Its termed "area of interests approach".
In short as long as the Board are still pursuing an interest in them they are valued at unamortised cost. So even Greenland is there :)
The auditors Littlejohns are very clear in their key assumptions and conclusions on this. They have accepted RRR is a going concern at sign off in Dec 23. To get that sign off Bell promised for 2024 DRC [ for the third year !] and this year £1.5m of asset sales.
The auditors are really clear if it's not a going concern then assets will need to be reduced to net realisable value. I guess pointing to over valuation.
All there in black and white from the experts. The balance sheet is not reflective of the value of RRR assets. They have deliberately chosen an accouting policy that avoids having to hold them at current value.
Were they worth more than the carrying value Bell and insider Lundy would be scrambling to revalue them.
Hope this clarifies. £1.5m of asset sales means accepting offers for anything. Unfortunately no takers.
Asset value....
Maidit might be rounding up slightly or his source might be but I don't think he is too far off.
Simply Wall Street give Red Rock Resouces a book value of 14.68 million pound sterling and a price to book value of 0.1.
The company has not been looking to sell every asset for the last three years as one of their assets, which used to be a jointbventure, they were looking to IPO and one of their current assets they are currently looking to produce. Tactics from the past may or may not change in the present, though I think the present is still present.
$20m in asset if not more.
Unfortunately not.
The lot have been for sale at any price with no takers for three years.
Instead shareholders have been obliterated from 800m shares to 4.1bn !!
Headroom to issue another 700m which is likely to happen in a few weeks. Because no one is interested in these world class assets. Its a steptoes yard collection of allsorts but we can sell nothing.
Sorry to disapoint maidit but most know this.
$2,371 hit just now'' this is getting exciting'' I'm not even bothered about our SP ATM under option money with at least £20m in asset if not more LOL!!
GOLD WATCH TO $3000 is a lot better''
$2.500 before close could happen if rate cut in June is coming''
well. what can i say? i will tell you what. another week passes and the washplant is 5 weeks late. no timeline for delivery. not even the plant is in transit reach rns? very worrying. shoddy cowboy outfit, doesnt even have a contract, just a handshake. what could possibly go wrong? i can see why bell spends most of his time in court. all shareholders got is a regurgitated stock box interview which means jack ****e is happening. 'dont let red rock resources fcuk this up'! straight from the great andrew bells mouth. the geo must have heard of calamity bells reputation. tic, toc.... 🔔 🤡
*rates not ratios
Topped out at $2,370 for the moment.
Looks the prospect of lower interest ratios moving it up.
DYOR
$2,369 and flying'' no doubt will hit $2400+ again by next week or before
all looking good for RRR, when they stop FKN about with the SP with £8 worth of sells
Maidit - it's not a conspiracy but reality. The SP reflects
- RRRs long history of not delivering
- A fear of more dilution
- awful charts
- less than transparent governance - Reach
- A poor short term balance sheet £4m of debt and spiralling finance charges.
- ownership and geo political concerns on our latest hyperbole. FASO horrible to do business how much of Greenstones do we now own. How does the arrangement with Sam [ Riverstones] work
You have been bigging up this company since the spike to 0.25p on Lithium licences a year back. You can see no negatives and its now all the market makers fault.
Take the blinkers off for once and think clearly. It's not difficult.
Pushing on again now $2,356 an ounce
a geologist by training. The visit was carried out over several days in order to evaluate potential high-grade targets as well as the amenability of the area to support scalable operations and quick-start operations.
With a surface of 183.62 km², the Bilbale project area is located in the prolific Boromo greenstone belt. The region is a major gold producing district. The Gaoua gold deposit (4.4 Moz) is located 50 km to the south, and the Poura gold mine (3 Moz) is located 70 km to the north. The Wa gold deposit (>1 Moz) in Ghana is located 50 km to the south and the Konkera gold deposit (3.3 Moz) of Ampella Mining is located 110 Km to the south.
There is an extensive presence of artisanal gold working sites on the permit area. Seasonal surface gold digging are done by entire communities, in addition to high density artisanal mine sites targeting the spectrum from alluvial to hard-rock mining to depths of ~30 m. Several of these artisanal sites are in excess of ten years old , covering significant areas and still being worked. During this visit two brand new artisanal sites got underway!
Rock chip sampling in 2020 included samples reported at 8.1 g/tAu, 6.25 g/tAu, 2.57 g/tAu, 2.56 g/tAu, 1.74 g/t Au, and 1.19 g/tAu. These grades underscores why artisanal digging is ongoing over the project area.
see if they will let us have another 1% rise today on those numbers above, and with gold at these prices LOL!!
ROBBING CNTS
Noted - expand on how that helps RRR ? No one here knows.
Your adoring public await and hang on your every word.
Https://twitter.com/sparkes_dwayne/status/1788740480177742328?t=V-ZFtKiLF_WSGwsVGmMcwQ&s=19
Note the comment about tin
DYOR
On the other board the the two main posters (Noira and Kemeche) have lots of fun at SPLs expense. They call his conclusions "Nearology" the science of if you are close to someone else's drill within 1,000 miles the luck will rub of on you !!
It's pretty desperate stuff.
See he's winding his neck in on some of his more outlandish FASO predictions but we will.keep them for future prosperity.
One fact is half of all RRR RNSs land on a Friday so let's see what 7am brings.
Good luck
Https://twitter.com/88EnergyLtd/status/1788734583795798504?t=3kze0mYI425Eye-Mxszb1Q&s=19
Neighbours of Elephant Oil and Recon Africa.
Proving up the Damara Fold Belt on their acreage.
Damara Fold Belt crosses Recon's acreage, 88E's acreage and Elephant's acreage.
Recon is drilling in June.
DYOR