Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Thanks for link helpful - just watched it. Mcap at the time Β£7m and share price 0.55... a 90% fall in 2 years which now needs a c.1000% rise to get it back to that share price or a c.300% rise to get it back to that mcap... crazy for anyone invested back then that hasn't exited or averaged down.
I'm still interested to ride a wave on this one though at some point - I just clearly got my timing on entry very wrong originally.
Https://www.lse.co.uk/rns/RRR/licences-obtained-at-bilbale-and-boulon-9vil2bnurpmn1uw.html
DYOR
Talkie, Stockbox interview re Burkina Faso
https://www.youtube.com/live/ICZSwt-tIU4?si=GACtw4frD_KGpHTq
DYOR
Do we have a Trabant dealership in Manchester?
Banbury FASO operating costs est by Helpful
Quite amazing for admitted non professional mining with supposedly no insider information can make cost estimate on a project which he has not even visited
Helpful's track record? RRR would have cash flow from Lithium last March/April 2023- actual results Dec 2023 200 ton left for export but not delivered because they realized that the price dropped I guess no one check the internet
Talkie,
First of all RRR has not had it for years.
In the case of Bilbale our contract with the local landholder had to be renewed and with Boulon the licence had to be renewed. See the announcement below from January.
No one is doing any work on a licence without knowing that they can exploit it. Initially the work at Bilbale and Boulon was on the hard rock. Subsequently, after surveying they found they had alluvial at Bilbale.
The problem is how can you exploit it? You need kit on the ground and you need experienced staff used to operating in these countries; it is not as easy as popping down to B&Q. With Sam and Willem we have partners who know their way around these places. With the alluvial, you would only bother if it was substantial. They have done their surveys and Willem has confirmed the work. Hence, they are going to operate initially on four sites at Bilbale.
https://www.londonstockexchange.com/news-article/RRR/central-and-west-african-assets/16301442
https://www.londonstockexchange.com/news-article/RRR/asset-review-current-developments/16209620
https://www.rrrplc.com/wp-content/uploads/2024/04/2024.02.29_RRR_Burkina_Faso_Alluvial_Project_Presentation_2.pdf
Note the Moratorium has been lifted.
"With over 10 applications prepared for prospective ground once moratorium is lifted, to be ready to file immediate applications for further areas"
NB with also have alluvial in CDI at Yamassoukro/Lake Kossou.
If the alluvial works out okay at Bilbale, I expect that RRR will do the same elsewhere.
DYOR
Shame - Iβll pop in your local just in case π
Helpful - what is the bit I am missing on Faso then please. If costs are $300-500 and start-up costs only Β£260k to start producing revenue and with a quick turnaround - why has this project not been top of the agenda for years as the returns would definitely have been profitable given gold price over last decade?
Has there been a licence issue or something else which kept this on the backburner?
Dukey, I really do have better things to do than meet up with you. I am going to be washing my DVDs that day: whichever day it is.
Though if Faso has confirmed its initial production figures I might change my mind. It would be nice to have you explain; why you are so wrong on Musonoi, why you were so wrong on Kenya, why you haven't paid what you owe to Christie's and why you are so wrong on Faso?
DYOR
Meanwhile, things are moving in the commodity space. For the CASINO project, they have just raised $40m from $25m.
So, not surprising Recon Africa has a JV - this is of interest as Elephant Oil [RRR Investee also has a licence in Namibia].
Be it RRR or other explorers , things are now moving due to the improved climate.
IF RRR Australia can get $500k to do Pre-IPO drilling as postulated, then it will be HNW funding ? It is positive moving forward that the cycle is looking up with gold price in Shanghai smartly ahead of Comex at over US$2,400. Thur, 18.4.4.24
Up in Manchester again next week if you fancy a pint ! Picking up a new car so Iβll have time for a swift one π
He used to same on NTOG where he got his nickname
GRANNY MUGGER ! Quite apt in my opinion
When was your last purchase helpful ???
Was I right to sell RRR when I did ???
If I hadnβt and believed your utter toush my thousands I had left would have been double digit pounds now ! Listen to helpful at your peril
Simple questions ! If Helpful believed himself and the utter tosh he puts in his posts, he would be buying up every RRR share he could at this price ! That tell me heβs full of sh-~t and the SP being 95 % down since he started posted stats it all - I canβt be bothered bough would price was RRR when Helpful started posting ! Zumore show us a couple earlier posts from helpful πππππππππππππππππ
Ah Dukey, the man who is not a shareholder and said he never would be, the man with the astonishing track record. Sold out of RRR at a super decent profit and bought back only to lose out; wrong on Musonoi said no one was interested in buying it just as Glencore was paying $430mil for it; said RRR would never get the Kenya licences reissued but wrong again; said RRR would never produce gold in Bilbale (about to be wrong again?).
The malevolence seeps out of letter and word you type. Not everyone is like you; someone who stated he would pay Β£1,000 to charity if RRR ever got its Kenya licences reissued but to date has never paid.
Morals and ethics; zero rating.
DYOR
For me the reason people are not buying is because they are just giving the placees an easy exit ! Anyone who thinks the latest placees think DRC payment or itβs going to be gold galore and are going to hold on to their shares past 0.6ish are deluded in my opinion ! If the bid goes above 0.6 I reckon you will see the big buys flood in ! Once all done they ready to take next placing - My take is Helpful is one of the placees, so he pumps and pumps and pumps with stupid jam tomorrow figures, cos every newbie - Naive person he gets to but gives him a chance to offload for his few %. No normal fibre and pure scum !
Well given we have failed for three years to get the threatened IPO away why don't we sell our stake or some other asset if they are that valuable to stop the dilution.
Sadly all our assets are for sale but no interest.
No not from me.
I'm all in on the Helpful cost of $550 per ounce which he has now been lowered to $300-500.
My only post was the cheapest gold in the world has an AISC of $1000. A big FASO mine has an AISC of $1100.
Our expert insider says AISC not relevant to us as we don't need financing. Make what you want of that statement!!
The rate of tax in FASO is 43% comprising a mandatory 10% government holding 7% royalty 25% corporation tax and 1% social tax.
None of this matters to FASO as Helpful says the costs are just $300 -$550 per ounce.
It's laughable.
Neighbours....
https://finance.yahoo.com/news/reconafrica-announces-operations-joint-venture-100000098.html
NB Elephant Oil has the Damara Fold Belt on its acreage too as does the JV between Monitor and 88 Energy.
DYOR
Talkinto it's called ten years of failed promises. No one buys into the next promise.
Let's hope they can gather enough momentum for the placing guys to escape :)
Https://www.gold.org/goldhub/gold-focus/2023/11/gold-miners-aisc-still-rising-slower-pace
DYOR
In general, gold was out of favour ie not the hottest precious metal at the time. Professor Conroy said a Russian telephoned him to offer him money etc. That was the last hot commodity period. Paul Johnson said so as well and tracked RRR and the 2010 commodity cycle. Professor Conroy also said that UNLESS gold hit US$2,000, it would be hard to proceed etc. Look at the Cascabel PFS and note the price of gold needed , copper and or silver. That is what bankers will need to see - in fact they want BFS. Now, that gold is hot again but with a different twist ie central bank buying [see RRR tweet with embedded article] , young chinese buying gold seeds, jewellery etc, the demand is there now [currently]. For this reason, quick START UP appears the order of the day, not the Tier 1 type that will need hundreds of millions/billion to start up. So, short , quick appears to be the order of the day to GET QUICK CASH FLOW in. DL's ASX co in a JV with an AIM co is also heading for that ie heap , leach etc. So, watch other co's to see. At Havieron, the folks on that forum can post their own RNS - Shaun is alive.!! LoL. Maybe, the new rules and all that gets folks even more hungry for news, any sort of news. Look at the link I gave about Gold Rush - watch that operation and look at the ore piled up. RRR Faso looks like some of the ore is piled up? But as Help said, some are rock etc for later. Thanks Help - Yes, I do recall Berringa.
I don't know where this $2,100 has come from but I suspect it has come from our resident "partly qualified accountant." If it has, he is quoting AISC. AISC relates to hard rock not alluvial and is a valuation metric, it has nothing to do with FCF, profitability or alluvial mining. I have explained this but he persists. For instance take Soma Gold; they have stated that their marginal cost of production is a little over $900. They are in hard rock and mining at depth.
Alluvial is $300/$500 ish per ounce dependent on grade. It might initially be a bit higher at Bilbale because we are not fully mechanised.
https://digitalcommons.mtech.edu/cgi/viewcontent.cgi?article=1007&context=mine_engr#:~:text=All%2Din%20sustaining%20cost%20is,both%20investors%20and%20mining%20professionals.
A big element of AISC is the cost of replacing what you have mined. In alluvial mining you simply mine what is there and then move on.
DYOR
News, if you check out one of AB's interviews, he states that he thinks Berringa could be brought into production in about 18 months. To do that RRAL would need a JORC, a mine design, a PFS and a BFS. To move that forward in the time frame means drilling now.
AB thinks that he can see a route to a quick JORC through accessing the Level 2 Adit. He has also said that he thinks that there is between 200k oz of gold at Berringa and 2mil. How can he say this? Well the last drilling they did was not for grade and quantum, it was for structure. Before they drilled they created a 3D model of the Berringa deposit. The drilling was designed to prove that the 3D model was correct and the drilling did confirm it.
So having confirmed the 3D model the next step is get the JORC proved up. Note that the drilling was open as to depth and along strike. What does that mean? It means that the deposit is bigger than postulated: hence the variance in AB 's estimate.
https://www.londonstockexchange.com/news-article/RRR/drc-and-australia-gold-asset-update/16332837
DYOR
So is alluvial mining only profitable if gold is above $2100?
I suppose I am more specifically asking why they have only just decided to start this project rather than start it years ago when price was stable around $1800-2000 range if it only ever needed Β£260k to get it going to generate cash flow?
Would be good to know as we now know where lithium needs to be to make money so would be good to have the expectations on gold too.