George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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----[1] "NAGAMBIE MINING TO ACQUIRE CLONBINANE GOLDFIELD."-PROACTIVE INVESTORS, 1 JULY 2014.
Said that Nagambie would truck to Nagambie mine , 60km away for heap leaching and their cost is around A$600.
Also, that VICTORIA gold tends to be NUGGETTY and hard to evaluate, develop etc vs CLONBINANE WHICH HAS DISSEMINATED GOLD, not nuggetty.
------[2] "CLONBINANE GOLDFIELD TRENCHING"-ASX Ann, 31 Mar 2015 [Call up the title to read - see pics]
"15 trenches for a total of 989 metres. Geo logging - 3D MODELLING. Assays. Trial excavation & bulk sampling."
---------NAGAMBIE THEN SOLD CLONBINANE TO SOUTHERN CREEK GOLD [or rather to the parent Mawson of Canada and Mawson IPO Clonbinane to the ASX @Southern Cross Gold IPO> The rest is history.
---------------CLONBINANE WAS RENAMED OR NEW NAME========SUNDAY CREEK.==========
RRR IS NEXT DOOR AT KILMORE TO SUNDAY CREEK [CLONBINANE].
Would like to ask Helpful ---------IF KILMORE HAS DISSEMINATED GOLD LIKE SUNDAY CREEK [CLONBINANE] or nuggetty gold like in typical Victorian gold fields?
Trenching--seems the trenching done by Nagambie WERE NOT VERY DEEP LOOKING AND VERY NARROW. So cheap to do.
Tues, 23.4.24
Last night, Mon, 22.4.24, I posted on this forum without the noise of the main RRR forum.
Found out on Hotcopper Australia that SUNDAY CREEK was bought from NAGAMBIE RESOURCES [NAG] , ASX. Sunday Creek was called CLONBINANCE GOLD FIELD. NAG did T R E N C H I N G at Clonbinance, Victoria 31 Mar 2015. Southern Cross Gold, ASX bought Sunday Creek from NAG.
Paul Johnson commissioned work on ----------DONNYBROOK GOLD MINE-------to see if the SUNDAY CREEK MINERALISATION EXTENDED TO -------RRR/POW KILMORE. It did via Donnybrook gold mine. I have now found info on Donnybrook Gold mine. It is 12 KMS and HUNTER VENTURE MINE -----IS IN THE CENTRE----- OF THIS SYSTEM.
https://www.mindat.org/loc-251520.html ["Richard Hunter discovered GOLD 6KM SOUTH WEST OF DONNYBROOK in 1897.
There is also DONNYBROOK GOLD ON FACEBOOK -gold prospecting.
VIDEO: "GOLD FEVER SETS IN AT DONNYBROOK GOLD."- 1 yr ago.
https://www.youtube.com/watch?v=knqxzNGbwpo Lithium Valley Rocks Prospecting.
This video shows the trenching is not deep and some drilling via horizontal drill. 23.4.24
-
FIRST EQUITY BROKER NOTE [see below]:
$13m for Mikei, Kenya @RRR [1.2moz gold].
So, if one takes US$1.2 bn below [US$2,116 minus say even a high US$1,116 cost] means that Mikei is VALUED by First Equity at -------------1% [of $1.2bn margin of profit , see below for example only].
1% is what John Cronford, Master Investors [Mining Analyst] said it during better time @1-2-3% of inground value? I have not taken the inground value [$2,116 x 1.2moz which is a higher figure than US$1.2bn potential profit].? DYOR, NIA.
Gold price today: "GOLD NEAR RECORD HIGH @US$2,116."
https://twitter.com/peter_krauth/status/17647114410288377424 [Mon, 4 Mar 2024.]
---
FIRST EQUITY RESEARCH NOTE 2022 [JAN]-Not sure how much gold was then to value @JORC Mikei, Kenya @RRR at $13m.
Let's do some simple maths:
"1.2moz gold -Mikei, Kenya at US$1 =US$1.2m.
At $10= US$12m.
At $100= US$120m.
At $1,000= US$1.2 bn.
A/c to Barrick Gold, All-in-Sustaining-Cost [ASIC] is $918 per oz of gold.
Comment: So, say for example, Mikei , Kenya @RRR has 1.2moz gold JORC and currently gold price is US$2,116.
Therefore, even if ASIC is say for example, US$1,116, there could be $`1,000 per oz difference ie gross profit?
Nice, no wonder Mr Bell is in Kenya today, Mon 4 Mar 2024 via 2 tweets.
--------Ref:Red Rock Resources: Mikei Gold Project, Kenya.-----
https://www.rrrplc.com/mikei-gold-project-kenya [This video is currently on the RRR website.]
" 1. 2 MOZ Gold. JORC 2004. Feasibility Study 2014. 15km from Tanzania. North of Mikei is Shanta and across is Barrick Gold." -A very good video cover infrastructure, other major mines etc.
------REF: FIRST EQUITY BROKER NOTE, 19 JAN 2023----
https://www.rrrplc.com/investors/shareholder-information/broker-research/ [This is on RRR 's website]
"First Equity |: Mikei Gold, Kenya : Asset : V A L U E $13.3M. GOLD JORC VALUE."
-------CHAIRMAN A.BELL, RRR IN KENYA TODAY, MON 4 MAR 2024.---
"Meeting, Nairobi." - 12 hrs ago by Andrew Bell, Chairman, RRR.
https://twitter.com/ABell2019/status/1764565849082405377
https://twitter.com/ABell2019/status/1764565703204483476
RRR: 0.065p. Mkt Cap: £2.39m.
News, Mon, 4 Mar 2024.
Much ado about nothing from the dampers with 429,651 RRR shares bought [total volume] for £322 on Fri, 3 Mar 2024.
What is all the fuss about, I wonder, hence why I checked volume of total buys. Data doesnt lie.
The shares of Red Rock have fallen 73.9% in the last year.
Https://markets.ft.com/data/equities/tearsheet/summary?s=RRR:LSE
The reason is continued cash raising at lower and lower prices.
There is an upside if a project/Interest can become the subject of an IPO or be sold. Failing that more cash will have to be raised by CLNs or Placings. Thus shareholders will be diluted further.
"INTERIM ARBITRATION WIN FOR AVZ."-19 Jan 2024, Business News. https://www.businessnews.com.au/article/Interim-arbitration-win-for-AVZ
"West Perth based AVZ Minerals has SECURED an INTERIM WIN in the I N T E R N A T I O N A L ARBITRATION against the Democratic Republic of Congo." Cant read the rest as it is on subscription.
BACKGROUND:
AVZ was listed on the ASX, Australia at $2.7 billion --lithium project in the DRC. The strike was 13km [pegs] AVZ owned 75% of the project and the state miner 25%. AVZ's MONONO project is 500km NORTH OF L U M U M B A S H I. IT HAS ONE OF THE LARGEST RESERVES OF LITHIUM IN THE WORLD. No mining yet as it is UNDEVELOPED. AVZ is locked in arbitration against the GOVT & their PARTNERS. Fast forward, 25 Oct 2023 - a MAJOR SAYS IT WILL DEVELOP Monono after the govt said it will REVOKE AVZ's rights as they "HAD NOT DEVELOPED IT FAST ENOUGH."
REM MEXICO PLC.
Ganfeng bought Bacanora Lithium [London listed] for £260m. Bacanora had a JV with REM Mexico for a 2nd licence [REM Mexico had 30%]. Recently, the Mexican govt NATIONALISE all the lithium licences and took it back - reason given was that Ganfeng had not developed it fast enough. So, same reason as above. REM Mexico [Lenigas] has already engaged Clifford Chance, international counsel to speak to the Mexican govt to settle the matter -that is the first step to show an international arbitration court that parties have spoken and tried to resolve matter and as Kiran said, if not resolved, only then can then proceed to international arbitration [usually it is NEVER in the country of dispute but international courts are in Paris, NY etc. Ganfeng said they wanted to litigate but NO NEWS yet. LoL- Sonora Lithium per the Mexiocan govt 's Treasury Report gave a VALUATION OF $600 BILLION for the Sonora lithium project - the world's LARGEST CLAY DEPOSIT.
RRR 50.1% OF MUSONI, DRC
It was SOLD on for US$430m per the broker report I post last night with links. RRR was not aware that their JV partner sold it on and the state sold it on again. Again, a very large deposit given that if the sale price for an undeveloped site was US$430m, the project valuation could be worth much more as norm.
WHY AM I POSTING ABOUT AVZ?
RRR is awaiting the DRC ARBITRATION AWARD [having had the draft] and their local associate was called to Kinshasha on this Tues. Mining Weekly covered the RRR 5.2.24 RNS @Reach so kindly read if interested. AWARD IS US$10M vs £3.05m for RRR Mkt Cap [not inc other outstanding].
The above is NOT international arbitration but local to DRC. Only once the arbitration is over, only then can RRR go ahead with international arbitration [see RRR 2022 Annual Report RNS].
On checking international arbitration statistics, they give the NO OF CASES WON BY CLAIMAINTS, no of case lost etc.
So, in see that AVZ has received AN INTERIM WIN -------that is encouraging------------DRC might take note of it?
Always nice to read the small man ie
Any more updates/thoughts, News?
HOTCOPPER JUPITER MINES
Hotcopper just PUBLISHED an article on the Jupiter Mines site today, Sun, 8 May 2022.
Link: https://hotcopper.com.au/asx/jms/
"TITLE OF HC ARTICLE: GLOBAL P I V O T TOWARD CLEANER, GREEENER STEEL THRUSTS
M A G N E T I T E ORE IN S P O T L I G H T ."
Comment:
It is what I was talking about ie M A G N E T I T E IRON ORE is beneficated to produce a cleaner product ie greener and China is looking to green iron ore ie m a g n e t i t e.
So, EVEN IF AUSTRALIANS dont do research they get articles posted by Hotcopper on their stock site it is industry news about the commodity their co is in.
So, Jupiter Mines used to have M T I D A [M A G N A T I T E iron ore] in Western Austalia.
Now, it has gone to JUNO [new IPO listed in 2021 by Jupiter Mines and Mt Ida was spun out including Mt Mason].
One poster ie Australian posted in this thread today akin to "JUNO -SON OF JUPITER."
LoL, they caught on that Juno has Mt Ida a magnetite iron ore project in Western Australia and not in Jupiter anymore. Hence, the RESEARCH ARTICLE PROVIDED FREE FROM HOT COPPER is useful to let them know that WORLD IS PIVOTING TO M A G N E T I T E iron ore.
========I said that Andrew Bell Chairman, Kenneth Frank Watson [MD] and Founders of Red Rock Resources and upon listing Mt Ida, Mt Mason and 2 other Mt's iron ore in Western Australia could have been the AUSTRALIAN ORE-LIGARCH's OF AUSTRALIA as posted below this post.
A chap called K.C.W was featured in a FORBES ARTICLE: "ANDREW FORREST MADE ME A BILLIONAIRE." How? This chap bought shares in Andrew Forrest 1st co, a junior tiddler.
He also BOUGHT SHARES IN FORTESCUE then 1-3 Australian cents that went to $9+.
Today, Fortescue 's share price is A$20.83 = MKT CAP A$64 BILLION.
At 1-3c, Fortescue was a PENNY STOCK!!! LoL.
As I said, RRR shareholders could have been RICH if they invested AT RRR'S LISTING in 2005 and subsequently, A.Bell & Frank Watson had taken THEIR MAIN MT IDA / MT MASON
to be developed like the other Australian ORE-LIGARCHS like Gina Rinehard [$30bn fortune], Andrew Forrest [No 2 at $28bn], Clive Palmer who sold Balmoral South iron ore magnetite to SINO IRON ORE [CITIC] in Western Australia who have just turned in a $1.3bn profit from their MAGNETITE IRON ORE.
-------News, Sun 8 May 2022.
Relating to my post below this of today re: Andrew Bell and Kenneth Frank Watson, Founders of RRR in 2005 [Admission Document], it list Mt Ida iron ore project [+ Mt Mason & 2 other Mt's iron ore projects in Western Australia] as the projects to list on the London Stock Exchange.
"RICH LIST 2020 MARKS THE RISE OF ORE-LIGARCHS."-Australian Financial review, 29.10.20.
"Only Russ ia has more mining billionaires. The collective WEALTH OF 12 RICH LISTERS with DIRECT EXPOSURE TO WESTERN AUSTRALIA' I R O N ORE MINE HIT $79.8 BILLION.
===
Iron Ore Billionaires-Western Australia
No 1 - Gina Rinehart, $30bn Roy Hill iron ore, Western Australia [2.4bn tonne deposit]
No 2 - Andrew Forrest $27bn, Fortescue [iron ore, W.Australia]
No 3 Clive Palmer $18bn-SOLD B A L M O R A L SOUTH MAGNETITE IRON ORE DEPOSIT TO
S I N O METALS [CITIC PACIFIC] , Western Australia.
CHRIS ELLISON, Mineral Resource, iron ore Western Australia.
==vs RED ROCK RESOURCES MT IDA [Juno interims Mar 2022] resource 1 . 8 5 BN tonnes although Mr Bell said in an interview with Stockbox Media recently that the exploration target is 2-3bn tonnes.==========
------------------ANDREW BELL, KENNETH FRANK WATSON AND RRR SHAREHOLDERS COULD
HAVE BEEN AMONGST AUSTRALIA'S RICHEST IRON ORE [WESTERN AUSTRALIA] BILLIONAIRES like the above. Why? MT IDA WAS THE CORNERSTONE OF RRR'S ADMISSION DOCUMENT of 2005 to list on the London Stock Exchange.-------------------------
I dont know what happened and why Mt Ida then was spun to Jupiter Mines in Australia who did not develop it or Mt Mason but instead chose to develop their manganese deposit from an ex-BHP CEO?
Now, Mt Ida has been spun out to JUNO , ASX IPO of 2021.
News, Sun, 8 May 2022.
Chris Ellison, Minerals Resource
I read the Red Rock Resources ADMISSION DOCUMENT last night - Andrew Bell was named Chairman of Red Rock Resources and Kenneth Frank Watson, MD in 2005.
The ASSETS that formed Red Rock Resources were:
M O U N T I D A MAGNETITE iron ore, Western Australia.
MOUNT MASON Hematite iron ore, Western Australia.
plus two other Mt's also iron ore.
Andrew Bell in one of his interviews said his grandfather was a miner in Victoria during the Victorian days and hence why he is partnering with POW's Paul Johnson to IPO Ballarat Gold Mine.
I do not know the details but Mt Ida then went into JUPITER MINES, ASX listed.
Andrew Bell got the ex-CEO of BHP to inject his manganese project into Jupiter.
So, the manganese mine was built and took precedence over iron ore at Mt Ida which was not developed.
SINO IRON ORE, Western Australia
I just read a day or so ago, that Sino iron ore turned a profit of $1.3 bn. Sino's M A G N E T I T E mine is one of the LARGEST in Australia and owned by CITIC Pacific Mining.
As said magnetite needs benefication and is favoured to be green.
So, interest is now turning to M A G N E T I T E so much so that in recent time, Gina Rinehart has bought into Mt B E V A N, a near neighbour of Mt M A S O N.
Gina's new iron ore project is MAGNETITE of some 1.1 BILLION TONNES, Western Australia.
MT IDA
Jupiter decided to SPIN OUT Mt Ida and Mt Mason into a NEW IPO called JUNO last yr [2021].
RRR got FREE SHARES IN JUNO of 800,000 and bought more to total ===1.4 BILLION SHARES OF JUNO, ASX listed in Australia.=== RRR ALSO OWNS ****ROYALTY***over MT IDA***
of 1.5% although 1/2 sold to Anglo Pacific in 2012.
Mr Durack, MD of Juno said that Mt Mason will be developed first and is currently at INVESTMENT DECISION STAGE as at Mar 2022 Interims. Once Mt Mason is steady, then the dust will come off Mt Ida, Mr Durack adds. In the meantime, Juno will COMPLETE THE
FEASIBILITY STUDY FOR MT IDA [Scoping Study was US$140/t whilst current price of iron ore is US$150/t although much higher earlier]. =========SIZE OF MT IDA GREW FROM 500MT MARK TO CURRENT ===1. 8 5 BILLION TONNES====Andrew Bell, Chairman of RRR said in a Stockbox Media interview recently that the exploration target for Mt Ida is =====2-3 BT TONNES===
vs SINO IRON ORE AT ====4 BILLION TONNES.===
AUSTRALIA 'S RICHEST BILLIONAIRS
No 1 - Gina Rinehart $30 bn. - Roy Hill iron ore, Western Australia
Andrew Forrest $27bn of Fortescue fame - Western Australia iron ore
CLIVE PALMER $18 Billion - SOLD B A L M O R A L SOUTH iron ore project to CITIC -SINO IRON ORE.
Who is Kenneth Frank Watson
Admission document stated mining entrepreneur and prospector, Australia.
Andrew Bell is now British.
-----------------------RED ROCK RESOURCES HAD SUCH A HUGE IRON ORE
PROJECT AT MT IDA AND THEREFORE IT COULD HAVE MADE ANDREW BELL AND KENNETH FRANK WATSON, FOUNDERS OF RRR-------------AUSTRALIAN BILLIONAIRES------------------
?
Gina Rin
Reading an article on Chinese, Zimbabwe lithium-highlights:
Zimbabwe could produce 10% of world lithium in 4 years.
Acadia lithium project is on FARMLAND [soy beans].
It is HIGH GRADE and has attracted INTERNATIONAL ATTENTION.
ACADIA lithium, Zimbabwe
Greg Mosley, an independent Consulting Geologist said the Acadia lithium deposit is in the TOP 30 in the world.
ARCTURUS AREA, ZIMBABWE lithium
Checking news on above and out popped the news from RRR of Fri, 6 May 2022 on their Zimbabwe lithium project published by MARKET WATCH.
Checked but appears to be no one else FILED under this area except Acadia [Prospect, ASX].
---------LoL, no wonder someone on the other RRR forum asked how ANDREW BELL GOT
THE LICENCE FOR LITHIUM NEAR ACADIA [ARCTURUS area]??--------
----------American High Net Worth buying 10% of Andrew Bell's 75% stake in 2 licences for lithium in Zimbabwe at near BIKITA lithium and Arcturus area [where Acadia is near the Arcturus gold mine, high veld] outside Harare, Zimbabwe.
One has to see how the AMERICANS feature in all this because the LITHIUM ZIMBABWE RUSH is FROM THE CHINESE but this is the first time hearing about Americans re: RRR RNS, 6 May 2022. Hopefully, Mr Bell will tell us more.
News, Sun, 8 May 2022.
RE-CHECKED:
[1] A C A D I A LITHIUM DEPOSIT, ZIMBABWE
A/c to Mining Technology, Acadia [Prospect, ASX] is 3 8 km E A S T of Harare and lies in the high veld near A R C T U R U S GOLD MINE.
[2] RRR's RNS, Fri, 6 May 2022
1 licence near BIKITA LITHIUM MINE, Zimbabwe etc and 1 IN THE "A R C T U R U S " area.
[3] ARCTURUS GOLD MINE, Zimbabwe
3 0 km E A S T of Harare.
[4] PROSPECT, ASX SOLD ACADIA FOR US$422M.
Now, Prospect has a new LITHIUM PROJECT -====NORTH OF ACADIA=====.
=========RRR IS A NICE POSTCODE AT ARCTURUS, ZIMBABWE AS ABOVE===
Looking forward to the assay results etc from their sampling in Zimbabwe re: lithium.
Sun, 8 May 2022.
On Fri, 6 May 2022, RRR issued a 1:33pm RNS relating to the 2 licences they got in Zimbabwe.
Out of the 75% stake, American High Net Worth investors took 10% from RRR for US$100,000.
This will be put into the Zimbabwe lithium subsidiary.
2 licences - NEAR ACADIA and Bikita.
Acadia lithium prospect [37Mt Li20], Zimbabwe was sold to Houyou for US$422m recently.
In the initial RNS, RRR said 1 of the licences was NEAR ACADIA.
In the latest RNS as above, 6.5.22, it said near ARCTURUS but I dont recall whether it was Acturus or Acturus gold mine?
WHERE IS ACTURUS, ZIMBABWE?
Acturus is a village, located 3 2 km E A S T of Harare.
WHERE IS ACADIA LITHIUM PROJECT, ZIMBABWE?
Acadia is 6 0 km E AS T of Harare.
WHERE IS ACTURUS UNDERGROUND MINE?
Acturus gold mine is 3 0 km E A S T of Harare.
Well, now I got my bearing. I will try to check again what Acturus RRR's licence is near.
News, Sun 8 May 2022.
Investors are scrambling for licences near Bikita and Harare [Ref: article which I posted about Chinese investors and Zim lithium.]
Sino iron ore in Australia owned by the Chinese has turned in $1.3 billion profit.
I have just checked that Sino's MAGNETITE mine has a resource of 4 BILLION TONNES which the largest.
So, Mt Ida , Western Australia in Juno [IPO in 2021] with 1.85 bt tonnes is not bad.
Andrew Bell told Stockbox Media recently that Mt Ida 's longer term exploration target is
2-3 bn tonnes.
Latest reference on Mt Ida is via Juno's interims of Mar 2022.
News, Sat, 7 May 2022.
Ref: "Edison Investment Research believe RRR could be worth 20p/share."-Proactive Investors.
By Charles Gibson, Edison Inv. Analyst.
Mt Ida magnetite iron ore,Western Australia: Based on 1.1bn -1.3bn tonnes of magnetite resource at US$3.5 per tonne[industry average ] = US$ 1 . 1 6 5 BILLION.
[] Annual Revenue US $ 7 3 0 Million.
RRR ROYALTY AT MT IDA
US$11 million a year.
WHO OWNS MT IDA?
It used to be in Jupiter Mines. However, in 2021, Jupiter spun out Mt Ida into JUNO a IPO.
Juno on the ASX also has Mt Mason iron ore HEMATITE project which has recently reached Final Investment Decision stage.
In Juno's Mar 2021 financial results, Durack MD said that Mt Ida now has 1.85 bt tonnes and is the largest advanced project in the Yilgarn and they intend to develop Mt Ida - dust to come off once Mt Mason [HIGH GRADE HEMATITE iron ore] is steady ie in production.
RRR - SHARES IN JUNO
RRR owns 1.4 million shares in Juno [800,000 free shares from the spin out from Jupiter and they bought more shares to total 1.4m].
By US$3.5 per tonne is understood to mean that if in a buy-out, it is US$3.5 industry average.
At this time, iron ore is US$150 per tonne.
MT IDA 'S RESOURCE HAS INCREASED SO EDISON'S FIGURE OF 1.1-1.3BN TONNES HAS TO BE REVISED UPWARDS BY MULTIPLYING 1.85 BN X US$ 3.5/per tonne= US$ 6.475 BILLION!!!!
For context, Gina Rinehart's huge Roy Hill, Western Australia has a resource of 2.4 BILLION TONNES OF IRON ORE MAGNETITE. Recently, Gina bought into the next door of Mt Mason at Mt BEVAN, Western Australia.
Another ref title: "RRR :MT IDA DEVELOPMENT GOES UNNOTICED BY SHAREHOLDERS."-Align Research by Dr Michael Green.
HOT COPPER JUNO
https://hotcopper.com.au/asx/juno/ [RNS/ANN available to read]
News, Fri, 6 May 2022.
I posted more fully on the main RRR forum yesterday.
I am posting just very short excerpts so that I can check quickly.
RRR obtain Migori back from the Kenyan Govt.
"Edison Investment Research believe RRR could be worth 20p/share."-Proactive Investors.
by Charles Gibson, Investment Analyst, Edison.
Call up this title to check.
SI Capital also wrote a broker note on RRR Kenya Migori [1.2moz au JORC] SKY BLUE POTENTIAL."
---
RRR looking for a partner.
Fri, 6 May 2022.
I posted about Kenya Migori on RRR main thread yesterday.
RRR won back the Kenya Mogori licence after litigation.
SI Capital Broker Note, 6 Aug 2020
https://www.rrrplc.com/wp-content/uploads/2020/08/RRR_BrokrResearch_06_08_20_Final.pdf [From RRR website].
"Migori, Kenya, Gold project"
"1.2 Moz gold JORC
SKY BLUE POTENTIAL. This does not include near term PRODUCTION on the small
MACALDER tailings project." -S.I. Capital Broker note, 6.8.20
---
A.Bell, CEO Interview, 29.4.22 [After Interim RNS the same day]:
Kenya Migori - he is looking for a partner.
Elsewhere in the financials earlier, RRR said that their gold portfolio tends to do well when gold is doing well. This is norm.
News, Mon, 2 May 2022 [Public holiday today, mkts closed].
[6] RRR OTHER PROJECTS and INVESTEE CO'S:
[] POW SHARES [originally 45m] now 25 Million.
[] Bukino Faso & [] Cote d*Ivoire, West Africa
[] El Limon - Royalty.
[] Mt Ida - think there is still royalty left after selling 1/2 of 1.5%? Not sure as have to check.
The 29.4.22 interims dont give a breakdown so got to make sure later.
[] Vector Mines - dont know much about this but it was on a thread header on ADVFN RRR.
I have to check when I have time on this.
[] ZIMBABWE LITHIUM
2 licences have been applied for NEAR ACADIA [sold to Chinese for US$422m] and near BIKITA mine, Zimbabwe.
Awaiting licences given they still process applications via paper processing.
Samples and results due but A.B said he is waiting for the licences to be granted before releasing results. A.B said he is looking for JV partners.
Spodumene has hit US$6,000/t for SC6, cif China for the 1st time.
Lithium exploration [spodumene] is hot at the moment in Zimbabwe as AB said the Chinese are looking to monopolize given the M & A acquisitions in the last 4 months.
FUNDING
A. Bell said in the interview with Proactive on Fri, 29.4.22 when asked by the interviewer, he said "ALWAYS SOMETHING WE CAN SELL."
A.B:
----"MONEY BACK FROM CONGO." [Ref to the litigation success in 2 cases in Congo as said below.
----"OFFER FOR OUR ASSETS- LIQUIDITY EVENT." [My comment: Quite stunning a statement from A.B. He did NOT elucidate but he cant without an RNS anyway. WHO IS OFFER FOR RRR'S ASSETS [ P L U R A L ]? Liquidity event usually means payout from a sale whether by cash or combination of stock etc. I CAN TAKE A GUESS WHO IT IS BUT MAYBE ITS WRONG SO BETTER NOT MENTION BUT WAIT FOR NEWS FROM A.BELL, CEO, RRR.
---"LITIGATION." [think A.B is refering to the US$250 million litigation outside Congo against this international co that now has MUSONOI.
NEWS, SAT 30 APR 2022.
DYOR
Please check as there can be errors.
[5] ------------------------RRR 51% OF MUSONOI, KOLWEZI, DRC ----------------------
Copper and cobalt JV.
Per RRR website currently at https://www.rrrplc.com/projects-and-investment/copper-cobalt/vup-copper-jv/
RRR said that their Consultant Geologist stated that the "SITU IN VALUE IN THE GROUND IS US$ 125 BILLION - from 83 drill hole assays, 750 pages of reports + historical data.
CONGO, DRC COURTS
RRR has already won 2 court cases in the Congo, DRC for $5m + $15m [51% to RRR?].
ANDREW BELL INTERVIEW, PROACTIVE INVESTORS, FRI, 29.4.22
[Post Interims]
Andrew Bell said he is flying out to the CONGO as the state co needs to know who to pay to relating to the above $5m +$15m. A.Bell also said he would ASK FOR EQUAL LICENCES OR SPLIT PROPERTIES.
LITIGATION OUTSIDE CONGO
A.B, CEO of RRR told Proactive in this said interview that the litigation is "FIT FOR US$250 MILLION" for loss of 51% of MUSONOI copper and cobalt project. A.B also said that this involves an INTERNATIONAL CO.
Musonoi is in the KOLWEZI mining hub where the FAMOUS TIER 1, KAMOA-KAKULA MINE IS SITUATED on the way to the Kolwezi airport.
------------------THIS IS A HUGE ASSET-----
A.B said in the initial interview when they first JV'ed , he mentioned £30-£70 Million.
So, had this asset remained, RRR would appear to be in a different situation relating to sp and mkt cap.
This international co from research has a MKT CAP OF $12.8 BILLION in local money and LISTED.
The compensation claim potentially for US$250 Million [not sure if it is $250 Million or 51% of $250 Million] illustrates that it is a sizeable and huge project if grossed up to 100%.
Musonoi [RRR shows their licences within 7 other major projects.
Copper is typically 3-5% and cobalt 0.5 to 1%.
-------------Had this not been taken under RRR without their knowledge, then
this may have represented Jupiter Mark II in that its a big and huge project [JV].
One hopes that when A.B goes to the Congo, there will be more news to come.
Sat, 30 Apr 2022.
SP -RRR 0.35p
MKT CAP £4.2M
INTERIMS- From recall, £13/£17 Million in assets. Look at net assets as well and other details.
Look at the RNS tab above to check as I did not have much time and just took a quick look but did not take notes.
I recall A.B said that Musonoi is on the books at £580k region? Please check.
[4] ELEPHANT OIL , IPO [RRR investee co]
Ref: "Elephant Oil files for $20 Million IPO to fund exploration in Benin, Namibia."-Seeking Alpha, 28 Mar 2022.
"Texas based co. Co plans to list on NASDAQ UNDER SYMBOL ELEP."
ANDREW BELL, CEO, RRR
Interview with Proactive Investor, Fri, 29.4.22 after the RRR Interims RNS on the same day.
Elephant Oil IPO:
" 1 shareholder to be removed.
High calibre board."
HEID OIL - POSTER ON LONDON SOUTH EAST TWEETED:
Elephant Oil - Proactive Investors Interview with Andrew Bell on the Elephant Oil IPO.
Link: https://twiter.com/Heid_oil/status/1511804365681659925 dated 25 Mar 2022.
Within this thread, a poster called Grey Panter gave me details as he has bought into Elephant Oil and said the IPO will be at US$4.50.
Sounds reasonable as Nasdaq IPO has a minmum mkt cap requirement + sp from $4 I believe from recall.
BENIN, NAMIBIA.
Onshore Namibia, there is oil exploration going on in the KAVANGO BASIN by a US listed co.
Off-shore Namibia, there have been 2 BIG OIL STRIKES, one by Shell and the other by Total [Venus etc]. So, there is interest in Namibia exploration but I dont know much about Benin as the document have not yet come out for the IPO.
One to watch.
Sat, 30 Ap 2022.
JUNO MINERALS, ASX
RRR INVESTEE CO.
-RRR has 1.4 Million JUNO shares. RRR got 800,000 distribution from Jupiter Mines, ASX spin out and bought more at that time.
Andrew Bell 's interview with Stockbox Media on 20 May 2021 said that Jupiter concentrated on manganese exported to China. Jupiter did not kept money to invest in Mt Ida, iron ore, Australia [WA] but rather paid out profit via dividends etc. JUPITER MONEY PRINTING MACHINE.
JUNO has two projects, MT IDA & MT MASON iron ore, WA, Australia.
Chinese have built up a 5% stake in Juno. Juno listed at a A$20m mkt cap.
1st day of trading it fell a bit due to the sales from the FREE distribution. 60% of the shares traded on day 1. Later, the sp went up.
--COMPARATOR MKT CAP WOULD BE A$150 MILLION--
NEXT YEAR, MAGNETITE PRODUCTION. - Dividend.
SAME TEAM AS JUPITER [bring projects in on time etc]
-------*** LONG TERM A 2 - 3 BILLION TONNE potential. ***--------
BENEFICATION."
Link: https://twitter.com/StockBoxMedia/status/1395280160337793025
My Comment:
Jupiter Mines was a great success and even today, it has a mkt cap of A$470 million and at one time almost double this cap. On ADVFN RRR, one poster said a long time ago that Andrew Bell bought a few pieces of land in Oz and it turned out £11m + £19m in dividends.
A/c to First Equity broker report in Sep 2021 [latest available] they said that the RRR shares went from 1p to 20p. It was at the time of the RRR -Jupiter event.
--GINA RINEHART: "BULK BUYS: GINA GETS INTO MAGNETITE WITH IRON ORE DEAL."--
Stockhead.com.au, 17 Nov 2021.
Gina has taken an initial A$9m stake in MOUNT BEVAN, WA [Legacy & Hawthorn on ASX].
She can take this up to 51%.
"HAN**** IS MAKING A BIG MOVE INTO IRON ORE, INKING AN INITIAL $9M DEAL TO FARM INTO MT BEVAN."-Stockhead.com.au as above.
JUNO IS NEAR MT BEVAN.
Mt Bevan - 2 spots [one near Juno] and the other 250km NW of Kalgoorie
Mt Bevan, Indicated and Inferred 1.17 Billion tonnes @34.9% FE. [Magnetite].
Stockhead explained that for magnetite, there needs to process it into a concentrate, hence more expensive than hematite to build.
------------MOUNT IDA, W. AUSTRALIA -FORMERLY JUPITER,NOW JUNO?------
REF: "Jupiter takes another look at Mt Ida."-The West, 7 Jan 2013."
-------"50% upgrade to 1 . 8 5 BILLION TONNES @ 29.48% FE." [magnetite iron ore].
So, a huge project Mt Ida vs Mt Beven [GINA RINEHARD]
Sat 30 Apr 2022.
BALLARAT GOLD PROJECT, VICTORIA, OZ - JV WITH POWER METALS IPO
Andrew Bell, CEO of RRR said on Fri, 29 Apr 2022 interview with Proactive Investors [irons in the fire] that gold IPO market in Australia "not strong."
O* LAUGHLINS, LICENCE EL007271, Ballarat, Victoria.
"Andrew Bell, CEO, RRR: We think that we have a CHANNEL of 2 DISTINCT LINES OF MINERALISATION with old working along them, PRODUCTION from which is UNRECORDED.
But you can see a lot of money was put in, in the 1860's and we think there is a possibility ANOTHER SIMILAR CHANNEL IN THE MIDDLE & may be SHEARS AND CROSS-CUT FAULTS. Some really enticing and exciting targets.
Ref: Mining Maven article on RRR, 22Sep 2022.
Link: https://twitter.com/theminingmaven/status/1440637401882267659
As and when the gold price becomes more attractive and gold in fashion + Victoria gold in particular, then have to K-I-V.
Sat, 30 Apr 2022.