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"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.
Https://twitter.com/goldseek/status/1788573561990295895?t=DR94q7J-wgQwdbhcdQUm2g&s=19
DYOR
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
Https://twitter.com/goldseek/status/1788573561990295895?t=rAyEyz7yz4xhCG3hbdxIXw&s=19
DYOR
Cap is $3m on royalty.
Date of agreement 14th April 2015.
Royalty 3% for first $2m
0.5% on final $1m .
Let's hope the 2 year legal dispute on the $2M up front payment ( sale value $5m in total) is not repeated.
Logically Mr Bell should be selling this to Soma for say $1.5m up front today. It might mean there is a company left or just 4 billion shares not 10.
Would be a great move and send the SP through the roof.
Nike - best of luck with the recovery.
You really do seem a nice person and poster
To be honest you have made me reflect on my posts.
I genuinely hope RRR does well and SHs do well.
I'm only really here because of Helpful and might have saved a few on the drop from 1 pence 2 years or so ago. Perhaps no one else needs saving and we ( not you) are just arguing with no point.
Please elaborate
"RRR did not have the skill set to develop" So why did RRR get involved with El Limon?
RRR's actions, past and current, are baffling to me
As you once said Banbury, this is a "fun board" it's certainly an interesting one with some occasional good humour on both sides of the debate as well as some serious perspective.
The last three and a half weeks I have been allowing full recovery from an injury after slipping down some rainy steps after a sudden outpouring of the vapours. Nothing too serious and though still active wasn't going to the gym so had more time to be involved in the chat. Have been a reader of this forum for some time so even though I will soon resume lifting I might be unable to resist commenting or maybe I will save myself slight niggles from typing and try and maintain a decent posture a bit like an averagely decent tree.
In relation to your question, I'm no acorn - just an ordinary voter with slightly less beer money and a couple of pints in different pubs.
Net Smelter Return Royalty.
https://en.wikipedia.org/wiki/Net_smelter_return#:~:text=Net%20Smelter%20Return%20(NSR)%20is,owner%20of%20the%20royalty%20agreement.
DYOR
Https://finance.yahoo.com/news/soma-gold-reports-end-financial-090000520.html
"Total cash costs per ounce of gold sold(1) for 2023 was US$983, slightly lower than the US$1,002 reported in the previous year."
"Finalize plans to restart the el Limon Mill to process both excess ore from Cordero and ore from formalized small miners"
"This additional feed material justifies the restart of the el Limon Mill, which has been on care and maintenance as production scaled up. We also anticipate lower mining costs due to the transition from mechanized mining to the conventional raise stope method."
DYOR
Just for balance helpful
1 - Soma loyalty is capped not continuous.
2 - RRR had a horribly acrimonious dispute over the core consideration in 2017 ( let alone the royalty) this took a lot of effort and a few years to resolve. I'm not convinced Soma will easily pay. Bell has rotten luck ( remember the barrel of nipples) so history repeats itself with no.proper contract.
God knows what happens to the FASO gentlemans agreement !!
You will have to excuse Dukey, he can't help himself. He sold out of RRR and made decent money and then bought back in and lost money (all according to him). Subsequently, he has a vendetta against AB and anyone who says anything that is not negative.
He said RRR would not get the licences in Kenya reissued and he was wrong. He said that Musonoi was worthless and no one would buy it, he was wrong.
El Limon is not known as the Lemon because it is a nickname: El Limon means the lemon in Spanish, duh!
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.
As usual with his track record of being right, he maintains his methodology; he checks nothing, switches his brain off and his mouth on.
This is nothing to do with what I say, this is what Soma Gold is saying. Soma Gold is now saying restart of El Limon mill in Q3 2024. Soma Gold is saying 8k oz in 2024, 12k oz in 2025 and 16k oz in 2026. If you want to check, read the recent AR and their latest presentation.
The gold price is now materially higher than it was when the last royalties were being paid. The NSR is not based on AISC but the marginal cost and so the cost will be high $800s/low $900s per ounce. At a gold price of $2,300 and a cost of $900 the margin is $1,400 per oz. Multiply out 8,000 oz x $1,400 x 3% and you get $336,000. Nowhere did I state or imply that Soma is a game-changer but it takes a bite out of corporate overhead. 2025 is $504,000 and 2026 is $672,000.
In 2023 Soma produced just under 33,000 oz of gold, so they know what they are doing. They have stated that they have taken steps to reduce costs and it could be the NSR margin is greater than above.
If gold goes higher than the royalty will be higher, if it goes lower then the royalty will be lower. All of the above is down to Soma, nothing to do with RRR.
But as usual the trolls check nothing and prattle on because they have an agenda.
DYOR
Breaking out today for some reason now up $20 ? perhaps investors are buying into that early interest rate cut quicker than expected after all ?
No worries with the lower RRR share price, declining cash balance or that 'good news' has not arrived because RRR is in a "good place'
posters should now be looking towards the new shiny object being talked about.
A technical person arrives on site and can tell just by looking that there is a lot of gold (1million +), this is a very cost effective and fast way of evaluating a gold property. It eliminates the needs for sampling, drilling and assay results.
This is a game changer. Look for other companies, world wide, to adopt this new approach to gold exploration.
RRR is showing how it does things