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I do listen... positive on these attitudes irrespective of what you have written was for the benefit of those who try to say they may have led some astray, apart from your confidant tone I think there isn't anything in that point, we all have different styles of expressing.
No-one should invest on the basis of any one poster or combination of posters' comments but if interest is piqued, people should, as you say, do their own research.
$2,346.
Sweet dreams
At the bottle again I see.
PS I don't expect you to listen to what I say. Go and do your own research, do your own numbers. You need a piece of paper, a calculator and a pen. Work though the scenarios; what if..... it is called "ranging". The most important factor is the grade; 3% grade in the "free" gold and we will be seriously making money.
There is obviously decent gold otherwise "illegals" wouldn't be there.
DYOR
And Maidit - It’s only showing a slight increase today cos of the UT trade at the end ! Good for today, but just means it highly likely tomorrow gonna be a red day ! Just saying
Helpful, why I class you as “scum” - Ok a bit harsh, I should have called you what I used to call Andrew Bell a long time ago - A parasite , living off others .
Nike, Helpful has been on this board pumping RRR for years, who if he is not an insider is as close to an insider as you can ever get. The share price since he has been posting has been on a one way trajectory, obviously down, and anyone who had invested due to his posting is now sat at a loss, most would be at a massive loss - Yet - Wait for it - Yet - In his own words, Helpful has never lost on RRR - Work that one out ! In my opinion he posts day in day out trying to lure in the naive/unsuspecting while secretly off loading ! He normally goes in to full blown pump mode just prior to a pacing so be wary - Combine that with Reach RNS’s, stick box interviews and RRR tweets and yeeee haaa placing is imminent ! Safe to say there is not one single person right now is in profit on their RRR investment - FACT !
You miss the point:
Semi-mechanised is a regulatory status and operation. They have three: artisanal (manual) no licence required; semi-mechanised, exploration licence required, can use some kit but not at volume; mechanised, production licence required, can use kit at volume, must have an EIA etc.
Semi-mechanised is regarded as part of the process required to obtain a production license. So we will be doing "trial" production in different parts of the licence.
So to go to serious volume, we need the production licence and that will probably take till November to obtain. In meantime we can produce and sell.
At volume the restrictions will be the throughput of the kit and efficient mining and operations on the ground: 10kg a day should be doable. It seems like we had 4/6 sites on the licence, do minimising the bottlenecks should be easy.
DYOR
Thanks Helpful, I have always liked these assets and I think I'm right to recall 0.5g/t very near surface is economic cut off - higher gold price now... 2g/t is good with the cheaper operational cost compared to deeper mines - am not checking and typing from memory.
One thing I will ask you to clarify is semi-mechanised is more valuable from what you say in the short term? Fully mechanised more favorably at the end, is that when ratio of cost and profit change at bigger scale up re. West Africa? I think I know what you mean but anticipate a challenge regarding how that might read.
No offence but regarding the merry go round, my positive opinion of assets is nothing to do with what you have written but I do appreciate your comments....
Hopefully occasional humour aside, exchanges can be a bit more serious so opinions can be genuinely tested.
Thanks again...
Nike not annoyed in the slightest, it is like dealing particularly obnoxious children.
As I said just now and several times before, all we can do is model and make guesses or best guesses.
We can make some broad points and incorporate them:
The alluvial is necessarily shallow by its nature.
The marginal cost should be lower as a consequence compared to hard rock at depth.
We are doing semi-mechanised (which has a regulatory meaning in West Africa) as opposed fully mechanised; which is less efficient and therefore more costly.
It seems we have "free" gold and saprolite. Saprolite is degraded rock which has lost its structural integrity but will have "fixed" gold in it. Grade affects marginal cost. I don't know because no one "knows" but it seems like the free gold is around 2 g/t and with the saprolite maybe 4 g/t once crushed and processed
Regardless there will be areas of higher grade and lower grade: just the way it is.
So finger in the air at volume, fully mechanised maybe $300/$500 an Oz. Now, getting going on a semi-mechanised basis maybe $700/$900 an Oz but rapidly dropping as we get good and identify where the high grade is.
I have a fully interactive model which accommodates tax, royalties etc and splits but again until we are doing it no one knows; it may be that in the first stages RRR's share is somewhere between $500k and $1mil pm. Free cash would be higher because spending on work is deductible and would therefore reduce the Corporation Tax and it would reduce the splits.
The real money is when we go fully mechanised. Fully mechanised should be serious volume.
DYOR
Helpful, you're probably understandably annoyed right now and I can't reply to an insult... Separately you might have Banburyboy on filter so I don't know if you missed my replies and it was around a scenario of 3.5 million dollars per month which is 2.8 million pound sterling. Scotgold Resourses RNS 11th July 2022 referring to second quarter of 2022 ounces production was worth 5 million pounds for the quarter and in today's prices would be 6.5... million pounds approximating close to 2.2 million pounds sterling per month. That was from one junior gold mine, Banbury reasonably pointed out splits of earnings in Burkina Faso but is also useful to bear in mind potentially simpler near surface production and cheaper operational costs.
Bearing in mind different structures and the time to build some experience and if required scale up, I don't think an optimistic figure is that wild. More precise figures from the Cononish mine that had some success in Scotland were in the exchange. 2023 was another matter also briefly detailed.
Cheers...
Nike,
the alluvial is shallow by nature of being alluvial.
Both Boulon and Bilbale but mainly Boulon seem to have the possibility of being an open pit mine.
No one knows yet how deep the hard rock mineralisation goes: they need to drill.
Apart from producing the alluvial.....
The first job is to identify areas of high grade alluvial deposits, the second is to progress the EIA so we can get the permit for Mechanised Production and the third is to do the hard rock drilling and prove up a resource.
Until they are onsite and doing the doings, no one *knows" what the production will be: they can model it and make guesses but they need to get on the ground.
As to size you can infer from flying in 23 specialists and employing 70 locals it ain't small.
The licence is 183 km2 and it is just one license.
DYOR
"Absolute Scum". Let's go through it again.
Sold out of RRR at a profit. Thought he was missing out and so bought back in and lost out because of his greed but it is all Bell's fault.
Spent months insisting RRR would not get its Kenyan licences reissued, largely coming out with the sand drivel as now. So certain that he swore he would pay £1,000 to a charity of my choice. Never did, even though he is "a man of my word".
Spent months insisting Musonoi was worth nothing and no one would buy it, just as Glencore was paying $430m in a back door deal.
Spent weeks insisting I was dodgy because I took the last placing. When I confirmed I didn't, I am now "absolute scum" because of some other reason (yet to be determined).
When I confirm, repeatedly, Soma's own numbers, including the relevant links, I am trying to ramp the price to exit from a placing I didn't take.
Bottom line you don't like being exposed as exactly what you accuse other people of being.
DYOR
Doing business in FASO is like walking backwards through treacle.
First base is getting the equipment in. It's really tough ( not a critisism just reality) .
Stage 1 and 2 getting people and equipment in - would not suprise me if delays are months rather than weeks.
So my skepticism is both timing [ June] and amount [ $3.5m].
In March he was telling us mid April for production.
If Helpful was a horse his form would be FFFFF/ RPu FFFF. "Very poor maiden plater unreliable and ungenuine sort"
Fair enough, good point about splits, let's also bear in mind potentially easier production and less operational costs when it is near surface, I don't know if Helpful's scenario involved four wash plants or less.
Scotgold Resources were quite experienced at that point though still a fairly new producer, ultimately they would run in to some bad luck but should have perhaps played a bit more defence in their planning, very good environmental management during their stewardship and I remember the second CEO's comment in a Proactive interview about beautiful faces of gold - in that landscape, I don't doubt it!
Nike - Admire the optimism but Scotlands not Faso.
Also RRRs share is TBC - split RRR / Riverstone / FASO government.
Interesting few months.
The 2.2 million per mont figure based on today's gold price is a very close rounding approximation and is extrapolated from former producer Scotgold Resources RNS update on a Scottish junior underground gold: 11th July 2022. It related to their best quarter but would fail in 2023 while building out in the wrong direction (it does happen) tight on the debt against the accelerated rise in interest rates and high inflationary costs.
Banbury it converts to 2.8million pounds sterling. Scotgold Resources (who would fail in 2023) in the second quarter of 2022 produced from one junior underground mine 3531 ounces of gold, at today's prices it converts to 2.2 million pounds sterling per month - different structures but worth considering.
Nike, not that he needs me to say it but If people had taken more notice to Banburys post than helpfuls over the past couple years they would be substantially better off ! How helpful still continues to post his biased rubbish is beyond belief, anyone who ever invested in the back of his stupendous ramps is now at a loss - FACT ! Bet not many people who run investment companies can say that ! Anyways, as negative I am towards this share l, if DRC money came in, or they actually get a profitable god operation in FASO I would be landed for quite a few RRR investors - Not helpful tho, he’s absolute scum in my opinion - But hey ho ! I would even like to see Maidit get a profit cos there no harm in him he’s just off the charts …lol. Wish you well in your investment and you seem educated enough to make your own decisions - Good luck 🤞
Thanks Banbury, I read that through again, thought about it and realised I wouldn't be contradicting myself or disloyal to press the thumbs up.
I appreciate your supportive message and it was very generous of you to say you are reconsidering some of your posts within this multi-person debate.
I have read your comments, those of of the bears and the disillusioned as well as the bulls and I have used them to test my own wary optimism and my stance has not changed but it is good to test our beliefs with the opinions of others.
Like you, I wish shareholders, posters and of course the company, the best...
BTW, RRR also got a little tail wind and also gone blue after auction ? 1% UP all be it''
Regards
$30 up into the close, the Market is confident of a long way to run IMO..
anyway another day over and we are still intact'' thank god for that''
Completely factual by you Helpful
But missed two key points $3m cap and the filter down after $2m from 3% to 0.5%.
Not serious on their own but your posts IMO are unbalanced and intended to mislead.
$3.5m a month on FASO to RRR you are ridiculous. There is zero chance but you state as if its fact.
We are agreed $3m cap on Smelter Royalty which you never mentioned . Why no just unblock me and answer direct ?
Why does RRR not forward sell smelter royalty for $1.5m to avoid dilution / giving away most of Greenstones ( our FASO subsiduary) to Sam or dilution ?
Answer I suspect after a 2 year dispute with Soma on the upfront payment in 2015 the smelter royalty will be hard to extract from Soma.
I can read and might know as much or even mord about RRR than you and have a more objective and balanced view !!
Do this board a favour and take me off filter so you address my concerns directly.
I am told that some people can't read or they can read but don't comprehend or can read and comprehend but like to pretend they can't so they can make important statements when really they have nothing to say...
From my post below...
"El Limon was a success for RRR, it sold out of a complicated asset that RRR did not have the skill set to develop. Para Resources/now Soma Gold still owes RRR $3mil"
So RRR is owed $3m, not $100m or some infinite number. Nowhere did I state RRR was owed more than $3m. For clarity $3m is less than infinity, just to be clear and all that good stuff..
DYOR