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Two big costs: central overhead and australia. Everything else is pretty small.
Cheers Helpful !
Wow - It does show how fast RRR goes through cash mind !
Dukey,
you are correct. AIM listed companies only need to RNS stuff that is "material": borrowing £200k is not "material".
RRR borrowing £200k or whatever it is, is much better than doing a fund raise at a stupid discount. I have lent RRR monies in the past when they have been stuck for cash and then been repaid in due course; repaid late of course.
DYOR
I already thought RRR or Andrew Bell had borrowed more money, after reading the last RNS and the 50m warrants. As we know RRR have borrowed millions in the past and not even let share holders know, its only when Final results come out they come to light. Helpful`s post below practically confirms my thoughts - But again I doubt Andrew Bell will issue anything about it as that would near enough confirm DRC is dead in the water, which many believe it was a long time ago.
Again, your view presented as fact and you don't listen.
ALR: RRR is not the only shareholder. Selling ALR now would be stupid but it could be sold: the biggest issue is the discount to the NPV10 or the DCF. I expect that any offer would be at such a discount as to make the sale unpalatable. The only way to get decent value out an asset like ALR is to operate it.
Kenya: nothing can be done until licence renewal: which could be any day.
El Limon: I said, "some income." On Soma's published plan RRR's royalty for Q4 is about $8k and for 2024 about $300k. So the royalty doesn't change the world but it covers a chunk of central overheads.
RRR doesn't currently have any headroom to issue shares except in connection with the CLN conversions and the associated warrants. So RRR would need a GM to obtain the necessary authority.
RRR is much more likely to borrow short term and wait for DRC to be sorted but who knows?
DYOR
Helpful - if we had anything sellable AB would have sold it by now at whatever the price. Just like Jupiter.
Not an option. DRC / Elephant or bust.
Limon smelter charge won't fund AB bar bill.
Raise Friday :)
I agree that RRR needs cash. It is the same for RRR as for all other exploration companies: they either farm out or sell assets; bring an asset into production; rely on the capital markets.
The El Limon mill will be back in production shortly and that will provide some revenue. RRR has a number of assets it can and should sell/farm out. As I have said repeatedly, Kenya and Victoria should go. ALR I expect that they will do a JV and then revenue will start. DRC, who knows? It could be any day.
DYOR
Blah blah blah.
Https://www.newswire.ca/news-releases/soma-gold-reports-2nd-quarter-2023-financial-results-844139811.html
"Continue the process of formalizing the small miners working on the Company's concessions to result in 10% of the ounces produced be from these small miners.
Determine whether to restart the el Limon Mill where it is or to move the mill to the El Bagre Gold Complex. This decision will be driven by a combination of initial capital cost and long-term operating costs."
"Javier Cordova, Soma's President and CEO, states, "Our team has delivered another strong quarter, and we continue to perform in line with our 2023 plan and guidance. We anticipate a strong finish to the year as we continue to ramp up production to meet our aggressive growth objectives for the year. Our plan to expand milling capacity by re-starting the el Limon Mill will position us to meet the growth plan for 2024 and beyond."
So no doubt that they will restart the El Limon mill: the decision is whether to operate it on the current site or to move it to El Bagre.
DYOR
Helpful spin it anyway you want but the single completely auditable fact is the SP has not done well under the last few years when you have ramped it relelentlessy.
That could changed but as a financial advisor you will be aware past performance is oftern a good indication of the future.
Without a cash injection [ DRC or Elephant] this is in a death spiral.
Well the problem with that Banboring is that you take your view and present it as fact.
You are assuming that your comment "slippage" means no or little value. The biggest problem I have is that I know stuff which while it might not be price sensitive, it might be commercially or regulatory sensitive. This relates to lots of companies I am invested in. For instance Elephant is going through a listing process (yes I know, again) and that restricts what management can say or publish. For instance, Elephant has a CPR for Benin: it can't include it in the S1 (SEC rules). The S1 refers to it but gives no detail: I have the CPR.
1. Elephant; not under AB's or RRR's control.
2. ALR not started sales but is much further along with a much bigger project now.
3. NBGC, my view is that the joint ownership is a problem. I have told AB that either the ownership needs to be sorted or the whole thing sold. Why it cannot be listed is beyond me: some complete dross has been listed over the last 12 months. I suspect that the ownership structure is the problem.
4. News on Kenya renewal is due and then they can make progress. Nothing can be done until the renewal is sorted.
5. DRC It is either done or not done. It is close and has been close for a while but close is not done.
6. Soma should confirm its plans for El Limon mill this week.
And so on. On some of the assets, my view is that the value is too high and on others too low. ALR is well wrong, for instance.
DYOR
And to add date of reseach note price was 0.26p . Buy 2.6p !! You could not make it up.
Helpful was bigging this up since January 23 issue guess what share price has halved.
Par for the course :)
Thanks Helpful date of reseach note Jan 23.
Comment on realisation of assets DRC soon Elephant soon. ALR two months plus. Ballarat 6 months. All the rest TBD.
Huge amount of slippage allways the case with RRR and nothing nowt zero delivered.
In the case of DRC the assumption is 100% realisation. A year ago I said 10% tops and revise it down to nil.
Presumably these guys just present whatever the company and the companies financial advisors (:)) tell them to.
I would stick to posting links on price of metals - not relevant to RRR but not misleading like an out dated reseach note with all defined targets in it missed.
Https://www.rrrplc.com/wp-content/uploads/2023/01/FEQ-Red-Rock-Resources-19-01-23-Buy-Note.pdf
DYOR
so you constantly **** off ab and rrr because your problem is me?
the reality is that you have nothing useful or interesting to say about rrr or its assets and you don't like someone who understands what is happening showing you up. all of the trolls on here (the majority of which are either non-shareholders who have a gripe against ab from long ago or are traders looking to get lower buy price, as in lowlife's case) have nothing substantive to say except that their thoughts, suppositions, feelings, anticipations outweigh facts on the ground. none of that affects the fact that rrr has a holding in an asset, alr, that is worth serious money.
get back to hugging your losses from ten years ago. how many times do we have to through your pet falsehoods?
dyor
Helpful - my problem is you. As a financial advisor who is indirectly interested you should do the professional thing and stop posting.
Do you have no contrition for the appalling steers ( caveatsed by IMO but DYOR) but allways implying a multi bagger that have cost investors a fortune. We all know you havnt but will continue to do the right thing and call you out.
Hahahahahahahahahaha!
A priceless one there from Helpless. How can PIs drive this piece of zhit down any further, it's already down the zhitter and round the bend?
Bell is driving it down all on his own, he doesn't need any help.
TDT
Non-shareholders hoping to drive the price down.
I'm expecting the next Placing to be around 0.13p, this week or next. Forget DRC!
Bell has played them all. There will be NO money from the Congo. The Chinese may or may not arrive. Helpless and his mates have bought 10% of a bit of paper . If Bell has to go it alone the fundraise will be more than our current mcap, and that’s just for starters
Helpful has lost unwary investors in RRR a fortune. Shorts Creek !! If RRR polished a tu*d Helpful would be bigging it up.
Meanwhile no news on DRC ? Is Elephant ever going to float ? Can't see anyone buying in myself. Fund raise this Friday and price being worked down to pre arranged level to allow mates in. We then have a spike on some less than specific news to allow mates to escape at a profit. Only one loser here RRR shareholders.
Yep and you can probably guess as to why no US or CDN company did that project
When i was a child i lived near marshlands. Very dangerous! You could walk over an ankle deep stream one minute and then a couple of minutes later the same stream could be up to your waist.
About Shoats creek. No guesses what polite UK investors started to call it when the project failed.
Shoats Creek-water in creeks appear on the surface of the land. Almost all oil or gas wells drill below the water table and thus have to deal with water. Some wells deal with more water than others. In other words it is a common issue and can be dealt with. Although I know nothing of the project I suspect it did have enough gas or oil which doomed the project not the water
Zumore it takes time to get samples, then time to send them to a lab and then more time for the lab to test those samples. It is not as as if the lab is sitting there with nothing to do and then jump into action when those samples arrive. The samples arrive at the lab and then they wait until all the other samples which arrived before them are tested.