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With respect Nike you are missing my point and the Royalty is 7% because gold price has gone up.
You miss the point as its quite clearly been reported FASO government have stopped issuing
permits [ permits require the 10% transfer] to SMALL alluvial mining production.
RRR is SMALL in every respect. Until three weeks ago our plans were SMALL . Now we are told they are big. How convenient.
Will FASO buy our new big plans ? A cursory look at our bank balance and balance sheet would say no. A costing for four Ali baba machines will hardly cut the mustard.
Sorry Helpfuls pivot from SMALL scale gold production in mid April.24 and $260k a month to RRR to a new approach and LARGE scale production in Oct / Nov doesn't seem normal to me. Its a pivot and a fundamental re write of the approach a slipping of timeline and a quantum increase in delivery risk.
Let's see what next update says.
Had a quick fish around on the company website, so the 10% is Burkin Faso Government share of equity agreed as part of the licence agreement so a known fact for Red Rock Resources, Burkina Faso Government would also benefit from a 5% royalty in the event of production. I have seen junior oil and gas stocks where the relevant Government also benefits from a percentage of potential production, so seems fairly normal to me.
All millionaies this time next year
200k on Alibaba and we are all made for life :)
Time you were right on something Help
Boring Boy is sooo Boring......
Why go and get a mining permit that allows you to go to fully mechanised production and then not go to fully mechanised production?
Fully mechanised production allows the company to process larger volumes of pay dirt; if the grade is constant then the gold production goes up. At a grade of 2 g/t working a ten hour day, RRR would need to process 1,000 tonnes per hour. Four 250 tph wash plants operating in parallel does it: the cost per 250 tph wash plant is $50k on Alibaba, you get discount for more than one.
It really is not a big deal. Things that matters: grade and soil type. Lower grade we need to process more pay dirt, more clay less throughput. We need to process more pay dirt? Then we use more plants in parallel.
DYOR
Think the "20kilo gold" was meant illustratively rather than literally and I read it as such - to demonstrate different rules for bigger production.
Regarding "10% equity share" to the Burkina Faso Government, if that is the same as a royalty I read about some time... previously - if it is the same amount, that is not a reason to change RRR's attitude - they might have already published it via RNS - where I have definitely read about royalty to BF' Government in the event of successful production. The information on royalty as part of prospective agreement will be somewhere in a previous RNS. Alternatively the company could clarify if anyone wanted to email them or perhaps someone more knowledgeable than me will add a quick comment.
Cheers for now...
This gets better.
Its absolutely ridiculous posting from helpfull 20kilo gold per day. That's 700 ounces a day nearly 300,000 ounces a year. $750m dollars revenue.
Dodges the question. Reuters and FASO government say no new permits to small miners ( not large ones)
Helpful then teases we are going big 300k ounces a year big !
It's keystone cops stuff. My guess is permit issue - the one where FASO government gets 10% equity share. The company update will reveal more but no chance RRR could scale up to that 20kg level. Helpfuls nose is growing larger by the minute.
Thanks for the clarification, Helpful. If a permit is not required for the earliest small scale gold production then I think bears, bulls and middle enthusiasm investors should keep an open mind on this.
Any gold production in the near term would be quite exciting for some, some will still criticise but if if it sold, money is money, scaling up will take time regulatory hurdles take time but during such phases some good mining work / assessment can still get done - ready - hopefully to market.
Thank you for your contributions...
Nike, no permit needed in BF at this stage. To go to fully mechanised volume production (like 20+ kg gold per day volume) we need a mining permit. That will be in hand. I don't know (because no one can know) but I would expect the volume production to start November/December, all being well.
Before the trolls start drivelling: until something is done, all anyone has is plans, expectations, intentions and so on. The trolls try to have it both ways. "You must tell us what you intend to do....", "We intend....", "ah but you haven't done it, have you....." Repeat and rinse.
DYOR
Permit pending or not, the decent grades have not gone away... Good reason fod a permit?
Permit---Are you telling this board that RRR arranged to fly in a wash plant WITHOUT a permit?
WOW just another example that RRR plans get negatively impacted by reality
I think shareholders are more concerned at present with the CEO spending money like water compounded by no asset sale and buying more property, no DRC payment, no directors salary cut, no washplant and no explanation of the cause of delay culminating into the mass dilution that has occurred 25 times here in the last 2 years. Talk about fiddling while Rome burns, just turn the air conditioning up and dismiss that the house is on fire. Tic, toc...
Help - have we got a permit ?
If not how long does it take to get one ?
What are the conditions ?
You have previously said we would start small scale production in mid April. What went wrong ?
Presumably no point bring wash plant in if no.permit ?
Hopefully the company will update soon.
Helpful as I have told you many times.
The increase in the price of gold does makes new mining decisions more attractive. So you are right there.
However the concentration will be on QUALITY assets. There is no evidence RRR gold assets pari passu against any relative benchmark are very highly ranked. They are a rag bag awaiting jorc tied up in IPOs or in difficult African jurisdictions.
Holders and future investers are more interested in
- The 200 tonnes of Lithium where is it ? Did it exist. Perhaps we should paint in copper and pass it off as that commodity ? Trust issue.
- DRC imminent. Just the elections ! Trust issue
- Faso production in mid April 24 and $260k a month you promised us. What went wrong. Your credibility shot.
You really are the most ridiculous person.
The only thing happening here is 700m shares issued to raise cash and a GM to allow more authority to issue shares.
I have called the SP decline right for three years. You have been wrong every time.
Morning trolls, more bad news for the trolldom.
https://www.fxempire.com/forecasts/article/gold-price-forecast-the-bull-run-in-gold-miners-is-just-starting-1426464
The way this works is valuations of assets and companies pick up. Companies raise money because they can and they go shopping for assets and takeovers. That pushes asset values higher and company valuations higher: for everyone....... Including lil' ol' RRR.
Top of the morning to you......
Looking forward to updates on BF (gold fkn everywhere), on Australia and CDI.
DYOR
Morning HP'' and all invested, look like AAL has rejected that BID approach from BHP because copper is on a tear ATM, INTERESTING'' regarding RRR own copper asset ? and what it could now be worth''
https://www.proactiveinvestors.co.uk/companies/news/1046196/anglo-american-rejects-bhp-as-copper-prices-surge-to-two-year-highs-1046196.html
Regards..
Breaking news, takeover fever in the mining sector'' AAL have had a BID approach by BHP for £31bil just goes to show there is money in rubble, AAL had 29 RNS today LOL!! Suppose most of those is TR1...
it is said the city is not happy losing i of there biggest giant to Australia ?
and funny enough, RRR seems to be at the right place right time in OZ...
And all that good stuff.
https://twitter.com/goldseek/status/1783925511439147278?t=-sN-gDKUnhj6g2MzivzpEQ&s=19
Gold assets are going to flip from a period of massive under-valuation to massive over-valuation.
Question is how much over and for how long?
RRR has lots of gold assets.....
DYOR
Well Mr Market certainly got a bit of liquidity today'' 12m worth ? and the trolls really got excited at 1 point I bet'' but the lady is not for turning I guess'' therefore nothing else to talk about with no SP drop apart from AB few days'' that seem to give them the giggles, we will give them that one for the weekend....
looking forward to next week already and hopefully it comes with a new high on GOLD,
ATB
Bit surprised Helpful that you did not mention in your news that is due comment the Congo cash. This is supposed to be a near term objective too.
I am surprised you are holding yourself out as an expert on two bit hookers now. I would have thought they were out of your price range.
Also RRR might only get a mining permit by going big !!
Small miners not allowed permits according to FASO government and Reuters.
Helpful has me on filter and never responds. He went out of his way to come on and rubbish me on that Reuters posting. No denial or sugestion I was wrong merely a bland statement
" loads of companies mine in FASO but RRR can't because Boring boys says so"
I did not say that I posted a legitimate article.
Could history be repeating itself ?[ Zimbabwe export ban ]. What do I allways say about Bell and a barrel of nipples !
Wheres the money coming from to go big because we have to as we misunderstood the rules ?
Conjecture only and IMO only but Hapless is all over the place.
He's pivoted from small scale production last week or this with $260k net to RRR to now its go big hence delay so wait for the $10m a month hype.
It's pathetic and doing the company who are saying nothing no favours.
Someone should write to the Board about gagging him. He's a liability
Go BIG or go home! What a 🤡 🤣
Any wiff of good news like that and Bell would have been all over it like a two bit hooker!
There are an infinite number of possibilities and yet given the totality of activity within RRR and Burkina Faso you make a statement that one possibility is that RRR could go bigger and they might go bigger from day one?
Why make that comment? RRR announced one plant was being flown in and would arrive within days yet you make the suggestion that this plant might be idled or even sent back because RRR might want to go bigger.
To me this suggests that you know that the plant will not arrive (most likely outcome given your statement).