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Yes those cobalt grades look very good actually. The copper is ok, especially the 1%+ intervals, but the cobalt looks like something genuinely exciting.
Good cobalt grades.
It looks like we have a valuable asset on our hands. As usual, this raises issues. Do we sell and move on, do we JV, do move it up the next step to the next value inflection point. Whether we need a JORC or not is a moot point but with a bit of work we might get one in place Octoberish time. That would give time for another drill programme and then some infill drilling. The grades are good but RRR needs to create a working model of shape and depth of the resource. There is a lot of folding and twisting of these resources during geologic time. It is not just laid out like a carpet at depth.
The next interview should be interesting. It has taken a little while but well done to AB.
DYOR
The results look very promising!
I don't have Level 2 but someone just posted that market makers want a premium for 1m shares so it does look promising for a move up.
There have been some bulky trades over recent days as well.
If you listen to his interview from last week: Luanshimba, literally now and Kenya next week.
DYOR
Anyone have a live level 2 on Red Rock Resources?
Helpful - do you anticipate the assay results this week?
Mining News
Ivanhoe, Gécamines ink new agreement to develop high-grade Kipushi copper-zinc mine in DR Congo
https://www.kitco.com/news/2022-02-14/Ivanhoe-G-camines-ink-new-agreement-to-develop-high-grade-Kipushi-copper-zinc-mine-in-DR-Congo.html
Who knows? The ideal outcome would be that Glencore pay us to settle and clear off. But many a slip twixt cup and lip. No rush: VUP and Sofibanque first, then Gecamines and then Glencore.
Could be good fun!
Helpful why say if we can successfully pursue Glencore. I would rather say when we successfully pursue Glencore but god knows how long these things will take.
This certainly looks like an opportunity to buy some very cheap stock on the back of the market's deep scepticism of Bell.
Just up to Bell to deliver now - and not issue any more shares before this money comes into the coffers.
Interesting that Bell actually mentioned the issue of continual placings holding the price back in a recent interview - are we witnessing a turning point perhaps?
As I mentioned in yesterday's post Bell said in the most current interview local staff in the Congo had been working on the legal case over recent days , he added "to ensure we get paid"
The initial pursuit is for $4.5m , that would do very nicely indeed to be getting on with.
If a dog like PREM can double in a few days, they have 19 billion shares in issue, I am sure, with the right news, RRR could double or even treble in equal time.
Matter of interest, do VUP ever put up a defence in any of these cases? or do they just ignore everything so RRR automatically win?
So there was case in DRC Wednesday. RRR won again. The judgements are now executable. What that means is that we can go to the next stage of dealing with VUP, Gecamines, Sofibanque and Glencore. VUP first and then the others in due course. NB Not inside information.
As I have said before on here and discussed with other investors, this is the perfect outcome for RRR on Musonoi. This compensation, the listing of Elephant Oil and NBGC will sort out RRR cash wise and it can on with its other projects. If we can successfully pursue Glencore then it will be all our Christmases come at once.
DYOR
BF is 13% LARGER than the UK - so I suspect the problems will be centred around main population areas
B2 Gold operate a gold mine in Mali. They say that they have had no interference with or disruption of their activities.
Just released,
One point of note, he says the Congo team have been working on litigation matters "making sure we get paid on that" the claim is for $4.5m but could be a great deal more in due course.
https://youtu.be/zpZSnmhao-s
Burkino is a 1- 2year project hopefully ending in an IPO - so let’s see where we get to?
RRR is slowly becoming a proper business, with local management teams being installed and less of a one man show. A good step forward.
We have exploration assets galore (not sure how as the auto dilution funding has been turned off but he keeps prospecting) and at the moment we need to support AB as he’s doing a good job.
Will shareholders see any value or will the money just go on further new projects as it always has will be shown this year. Let’s hope there is a change and we get either a share uplift with the hopefully the Elephant Oil proceeds and any DRC legal compensation funding the company…… or maybe even a small distribution/share buyback.
It is difficult to believe that RRR mentions Burkino Faso - as if it is of value when their is non. The army has taken over- the country is lawless,close on a 1000 incidents of armed gang attacks throughout the country recorded over the last 18 months.
The BOD must know the situation yet write it up as good progress?
Rumour has it that AB stepped down from POW before he faced a vote for removal as there was the possibility of a motion being put before the BOD for just that.
No BOD member worth his salt wants that on his record.
Bells style at interviews is to waffle on, he never ever seems to talk about delivering meaningful shareholder value, I think if Red Rock won £20m on the lottery Bell would find some way of making it sound uncertain or with caveats.
So the latest 'episode' is to chase lithium targets here there or anywhere, he mentions Zimbabwe and Congo, well how many projects does Red Rock need ? A cash strapped junior company continually adding new projects without delivering any meaningful shareholder value from the plethora of existing projects, its truly pathetic.
Whilst it is true that Bell needs shareholder authority to issue shares to raise cash one suspects he is still free to issue shares to vendors or via CLN's, the issue is one of trust and the market simply does not trust him. Most vendors are quick to sell stock despite assurances.
Bell will never change, he will continues the status quo until he is removed from office, it has to be at the next AGM.
Lots of interviews by AB recently but hardly anyone is buying? Must be a reason why.
https://twitter.com/StockBoxMedia/status/1491026837111439364?s=20&t=efYVb-KoFbjQWxymDG8XCA
Link to Q&A details
https://tinyurl.com/2p9d73yr
Due this week.
They are requesting questions, email address in link below
https://twitter.com/**********/status/1490595296325386243?s=20&t=P16KV0630rkSfY-nk2EglQ