George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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See, like clockwork, BanburyBOY stops posting, BlueBOY 1975 starts posting on this same thread.!!! LoL.
I do NOT know much about the DRC payment re: 1/2. But that was sometime ago and it had to do with VUP, RRR's JV partner. Besides, they did not carry it through ie VUP due to the person making the offer, not a principal in law. In this current case where RRR has reached DRAFT AWARD, the payment is to come from GECAMINES, the DRC state miner for 50.1% of $10m to RRR. That is a whole new ball game as it is NOT from VUP, RRR's JV partner for 50.1% of $5m already paid to VUP. HELPFUL: Banburyboy now appears to attempt to read that Helpful has NOT said anything , there to take it NO DRC AWARD ------------that is presumption. P.S. RRR RNS of 28.3.24 stated that Gecamines via their Counsel has told the Court that they will pay upon the award. Oh, but dont let that get in way of naysaying LoL ---ONCE THE COURT SIGNS THE AWARD, it goes LIVE ie RULING of which Gecamines told the Court they WILL PAY. DYOR. NIA.
Elephant - five failed IPOs. No one is interested.
Https://finance.yahoo.com/news/reconafrica-announces-closing-c-17-124500360.html
It has raised to drill at least one well in the Damara Fold Belt which extends into Elephant Oil's acreage in Namibia. Should be good news for Elephant.
The Whaleback Anticlines look huge but until they drill them, they don't know if oil and gas is there. They now think that they have both decent oil and more than decent gas.
See the recent CPR update.
DYOR
Vertabin- award payment is gross, lawyers fees, court costs and admin fees to come off. Three years now of all that now, someone's going to be taking a big piece of that pie - if it ever comes out of the oven. I do have a theory regarding French speaking, trained lawyers but I'd better keep that one to myself!
News working hard.
Dukey has said he won't post again if we get the DRC $7.5m.
I will join him. A caveat from me though.
I think there is a small.outside chance we may get something. Bell talked some months ago about taking half. I suspect we might have to revist that and after legal fees kickbacks and all the rest there won't be much left.
If we clear $3m net from DRC I will retire like Dukey.
Come on guys it's as clear as the end of your nose its unlikely to happen. The one person who will know for sure is Hapless and he studiously steers clear of DRC and is plugging FASO. Tell tale sign !!
Still ALR FASO COTE and Kenya worth tens of millions each so we are told by Helpful.
Agreed Your posts and reasonings are very clear. RRR's guidance on DRC cash is unchanged. It has been years and thus will remain in years.
Of course others may chose to ignore the guidance from RRR. It is clear what the RNS stated and the guidance has not changed. I agree with your posted comment "FACT is RRR RNS VERBATIM 101."
Thank you for bringing attention to this critical information. Please keep posting on this issue
VERBATIM
It is quoted directly from the RRR RNS/s relating to DRC Award Arbitration. That evidences what RRR stated in a REGULATORY NEWS SERVICE.
MY VIEW:
Is predicated on London Stock Exchange Regulations: ANY "SENSITIVE INFO" must be RNS 101.
What so hard to understand about that. If one does NOT quote verbatim from RRR 's RNS. then it could be only one's understanding of what is being said vs what WAS ACTUALLY STATED, hence quoted verbatim. Everyone knows that simple fact of the difference between verbatim and posting what one thinks the RNS is saying. Interpretation of RRR RNS is up to each one but it may NOT BE FACT. FACT is RRR RNS VERBATIM 101.
In summary "verbatim' applies to RRR thus to apply this reasoning to RRR then a verbatim understanding of the DRC timing would be measured in years
Thank you for pointing this out
For clarity:
It is well known on this site, folks post : "NO OPINION." That is NOT to be taken verbatim that I have NO OPINION per se. I have my own view and that is reflected in my stock broking account. What I do NOT want to do is to have any "view" IMPOSED on anyone. Why? That view may or may not be correct , given at any one time. Why? I do not have more info than is in the public domain.
THEEEEDUKE
I said it was trading within the spread. I see a trade 400. LoL. See, isnt that currently correct? It is trading within the spread. Prices are above this page.
DRC, Yes, I am aware people CAN read but it is being portrayed as a ABANDONED DRC award or that is how I read it from postings. So, to put a BALANCED picture, one quotes VERBATIM what is in the RRR RNS of 28.3.24 and therefore, of importance is that IF DRC has FAILED to award $10m, IT MUST BE RNS'ed. So, for me personally, I take that view ie NO RNS = Not ended yet. Normal understanding of normal people. Yah. 3.4.24.
News I think most people can read and understand both the comment made in the 1/2 year report and the tweets regarding no change in the guidance.
As others here have pointed out investing is often a matter of timing -"When will events happen" While there are positive macro events happening (higher gold prices) the micro events or events within RRR require some judgement as to timing. For about 2 years RRR has stated that DRC cash is imminent or soon. Thus it would appear that RRR's time frame is measured in years and months.
And taking into consideration your 'no opinion' as to the RRR share price. I think readers would be well advised to take your own considered opinion and knowledge into consideration and come to the same conclusion.
Https://x.com/TonySeruga/status/1775489302585352455?s=20
"On record high gold prices, Armstrong says, “Gold prices go up when confidence in government goes down. . . . I expect the gold price will be at least around the $5,000 per ounce level by 2027 or 2028.”"
Blooming heck!!
DYOR
Folks are asking and I can only go on the latest RRR RNS of 28 Mar 2024 at "1/2 year report/account." In particular, it will be the Chairman's opening statement + section in this said RNS on "DRC LEGAL ACTION."
Chairman Bell of RRR also TWEETED on 28 Mar 2024 and he stated there is NO change to guidance and mentioned solution as well. I dont have the tweets with me so please check. The said RRR RNS of 28.3.24 also stated INTERNATIONAL ARBITRATION re: MUSONI. No, international arbitration word was NOT used but RRR stated "remedies" from other parties and it will be outside DRC.
----UP TO EACH ONE WHAT THEY THINK OR WANT TO THINK BUT I GO ON RRR RNS and if DRC AWARD IS NOT FORTHCOMING ie dead end, RRR MUST RNS as that may be deemed "sensitive information."--Yes? No?
NAYSAYERS: I think that with the GOLD PRICE now broken to its all time high and from a long period of trading within range, it bodes well for all mining stocks directly or indirectly ie explorers or producers. Same with copper and lithium prices. Why? It means that with higher prices, the projects are of interest to other parties who may be interested in these licences etc. Same with all mining stocks now and that is what is being said by the WHOLE INDUSTRY. CYCLES dont last forever, whichever way. So, sunshine has come out. 3.4.24 DYOR. NIA. Caveat: I cannot provide warranty as I only have RNS , interviews to go on and NOT privy as a private investor to anything more than that. So each one has to opine their own view and do accordingly. DYOR. NIA.
That would be "shied away" as in waiting for regulatory approval from Kenya and Tanzania plus increasing the offer?
https://www.lse.co.uk/rns/SHG/regulatory-approvals-update-5h4sv1kzgedf809.html
"Saturn recently increased its offer to 14.85p per share from 13.5p as the gold price has risen to record highs."
Helps RRR in that part of the assets are Kenyan gold assets and the price has been increased because of the increased gold price. But you are quite right in absolutely everything else.
DYOR
FACT: HL quote to buy is 0.0593p.
HL quote to sell is 0.0566p.
Do you see any change? It is obvious that the prices change slightly, even for other stocks but for RRR, it is TRADING WITHIN THE SPREAD. I note the naysayers post WITHOUT prices = EVIDENCE NEVER GIVEN. Wed, 3 Apr 2024 @1:20pm.
BanburyBOY: You are NOT invested. So, you have provided ALL PROVEN WRONG direction eg RRR AGM, 16 Feb 2024 of Resolution 4 passed but WAS NEVER ISSUED to date. When that was MIS-PROVEN, then you went on to UNDECLARED LOAN and it could come out as a "NASTY" [your term from recall] SURPRISE in the accoutns. ACCOUNTS CAME OUT ON THUR, 28.3.24, NO LOANS and you went all quiet. So on, so on and 5 years on this site from what you said yourself.
NEWS IS HERE TO PROVIDE BALANCE to above. Why? I have RRR shares. FIRST EQUITY BROKER REPORT: https://www.rrrplc.com/investors/shareholder-information/broker-report/ 19 Jan 2023 by First Equity. Page 3 states that an Oz IPO can command £15m [told you that minimum listing in Oz is A$20m]. RRR STAKE EQUALS £ 5 . 6 MILLION!!!
Who’d have think it ! All these links to gold price and sells far out weigh the buys and RRR red AGAIN ! Must try harder !
Hapless and News are having to peddle very hard. Bless
Part 2:
RRR ASSET
Kenya JORC 1.2mox + Tailings. [Licence being renewed].
Yah, JORC is primarily a code for reporting the status of a resource. Hence, First Equity 's last broker report [see RRR website] can put a valuation on RRR Kenya.
DIFFERENCE: Exploration vs JORC
In exploration, one is drilling and attempting to drill enough holes to do a JORC. For buy out normally, one needs a resource definition eg JORC. Yah.
CO VALUATIONS
All junior miners are valued for their VALUE IN GROUND ie MOZ gold x PRICE OF GOLD. That is one methodology for valuation by say WH Ireland.
RRR AUSTRALIA: It could attract an IPO due to RRR Australia is NEXT DOOR to Sunday Creek, Victoria. It is not only next door BUT Kilmore was the 1st mining town and when gold ran out, they moved to Sunday Creek next door. SXG owns nearly 1/2 of the project and has a MKT CAP OF A$162M and if one grosses it up to 100% stake, it is A$300m mkt cap. Yah, NO RESOURCE YET eg JORC. To list in Oz, there is a MINIMUM OF A$20M. Yah, First Equity has already said that RRR would benefit in an IPO as they confirmed it is A$20m to list in Oz. Yah, LICENCES ARE also VALUABLE ie can be valuable. Yah?
Target price $10k an ounce to $15k an ounce FKN hell, this could well be the shot in the arm, most junior miners have been waiting for.. HP'' you was saying LT target $ 3k the other day'' and although it was a sensible prediction, you and us all may have to revise that figure upwards in the not too distant..
GL AB'' and team RRR including new security on site..
ATB
DRC payment? Asset sold? Or more pain and dilution for shareholders? Bell is spending money like water with zero control so something has to give.
"Has everyone given up on the DRC payments now?"
You have to think something likely before you can give up on it. It was never likely.
TDT
In ze world, there are 2 OFFICIAL GOLD EXCHANGES called COMEX & SHANGHAI GOLD EXCHANGE Yah. To know how an exchange works, type :Comex, Investopedia. Gold prices has SPOT and FUTURES. So, if I walk into a gold shop to buy gold coins, it will not be haggling. Same if one goes to Bullion By Post via online in the U.K. So, Gold follows the prices of price usually. A Cannacord fund manager now watches the SHANGHAI GOLD EXCHANGE as the trading hours are different to us and USA due to the time difference. Same with Bitcoin during American , European & UK time and Bitcoin trading during Asian time. You know, ze world trades on different time zones. So, at the moment, IF the CHINESE are buying gold be it their Central Bank or from shops especially the young want to buy gold beans, then it is predicated upon the EXCHANGE RATE. You know, its like you go to the CURRENCY BOOTH IN ASDA? You tell the man you want US$ and he has to look at the SCREEN to see how much US$ trades to the £. WHICH IS THE LARGEST GOLD EXCHANGE IN THE WORLD: It is the Shanghai Gold Exchange. ALL EXPLAINED BY THE WORLD GOLD COUNCIL: "MAJOR TRADING HUBS." It includes the LONDON OTC GOLD MARKET as well. Hope it clarifies. RRR --ASSETS--ARE MAINLY GOLD & RRR TWEETED THIS MORNING.
Yah? Solgold has ONLY ---GOLD ASSETS --MRE etc but NOT in production = NO INCOME. BUT MKT CAP £300m this morning and needs FUNDING like every other junior exploration co. Same with GGP and they only own 30% of Havieron and their Mkt Cap is £297m. A/c to 21 .12.23 Proactive, Havieron has 8.4MOZ gold 2.52MOZ for 30% stake. Again, GGP is NOT producing and also needs FUNDING to survive. RRR has a JORC 1.2MOZ GOLD IN KENYA [licences being renewed] but MKT CAP £1.94M. EVERYDAY, ONE NEEDS TO FIND OUT VALUE IN GROUND , SO RRR 1.2MOZ X US$2,368= US28.416M!!!! WH IRELAND FOR MANKAYAN does value in ground methodology ie what is the JORC MOZ x gold price. So, gold price is of interest, yah? Like house prices one needs to follow PRICES? Hope that clarifies. 3.4.24 NIA. Above to give examples.
Funny that, the Chinese shied away from buying Shanta Gold so hows that help RRR?
Https://twitter.com/goldseek/status/1775415220522959167 4 hrs ago, Wed, 3 Apr 2024 Gold Seek: President of Gold Seek.com [with screen shot]. Gold is traded on the SHANGHAI GOLD EXCHANGE [SGE].
Ref: "Chinese buying sets the stage for Gold's latest run."- Bloomberg, 9 Mar 2024.
Comment: Hence, why the West watches the SGE [Shanghai Gold Exchange] prices.
Https://twitter.com/graddhybpc/status/1775425487684149349?t=xUC9x0AceNJVzVLBKc0MMw&s=19
DYOR