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Remember Reversion to the Mean?
https://twitter.com/TaviCosta/status/1784319182584135859?t=PmWf8BUwV9FGKa0DvlYVWw&s=19
DYOR
Https://www.energy-pedia.com/news/namibia/reconafrica-provides-update-on-operations-and-confirmation-of-a-new-fold-belt-play-in-the-kavango-basin-191104
Damara Fold Belt.
DYOR
Doggie, do you mean this? https://youtu.be/r6cixQCULdM?si=oEaWCVOZM7g7xoXI
This has already been addressed multiple times. I have posted numerous links showing the depth of the gold trade in Ouagadougou. There is no problem selling gold within BF.
This is aimed at illegals and Artisanals not paying royalties and corporate taxes. We have the support of the Govt as evidenced by the presence of armed Gendarmerie and military at the site plus the speed with which the illegals were removed from the site.
This is standard Boring Boy nonsense; posts nonsense, gets refuted, posts different nonsense for a few days and then resumed previous nonsense. Endless cycle of nonsense. Some might suspect an agenda.
The Govt actively wants us progressing because we are a Western company that will pay taxes; they don't want Chinese and Russian operators.
DYOR
AIM - Helpful only posts what he wants you to know.
No doubt a strong rebuttal will result with him telling me I'm stupid can't read don't understand am a rubbish accountant etc. He accepts no negatives or any doubters.
If I'm honest FASO is speculation I could be right or Helpful could be right but balance is important.
I like to stick to FACTS. I will allways Stick to them and 200 tonnes of Lithium was presented as fact.
Where is now ? When will. we sell it to whom ? Five Chinese buyers was rubbish and I'm not convinced at all on the 200 tonnes story.
I think the Nomad was stung by Lithium publicity and RNS releases and company communication has been far less since ( accepting Reach).
Helpful seems out of step with a more measured approach from the company to communication and his claims are getting more outlandish [ if that was possible !!]
Where will RRR be at Xmas.
1 Many multiples of now per Helpful or
2 0.03p and 6.5bn shares.
Can't see the auditors buying DRC or Elephant being near term cash realising events for three years on the trot.
All in my opinion but read Helpfuls post alongside an alternative view. I mean Alibaba as supplier for a big gold producer it's cringe worthy :)
Good link Banburyboy.
I wonder why helpfulš¤” didn't post it as that is usually his forte??? How can Bell be so unlucky??? Barrel and nipples, eh Banburyboy. Tic toc...
24th March 2024 the military Council increased the minimum FASO government shareholding from 10% to 15% for new licences / permits.
Clearly a lot going on.
Hopefully an update soon.
Https://gold-wash-plant.com/portable-wash-plant/
https://youtu.be/1Djz2cfjGGM?si=XArKH86L8TGez34p
https://www.msi-mining.com/sv9--monster-red.html
DYOR
With respect Nike you are missing my point and the Royalty is 7% because gold price has gone up.
You miss the point as its quite clearly been reported FASO government have stopped issuing
permits [ permits require the 10% transfer] to SMALL alluvial mining production.
RRR is SMALL in every respect. Until three weeks ago our plans were SMALL . Now we are told they are big. How convenient.
Will FASO buy our new big plans ? A cursory look at our bank balance and balance sheet would say no. A costing for four Ali baba machines will hardly cut the mustard.
Sorry Helpfuls pivot from SMALL scale gold production in mid April.24 and $260k a month to RRR to a new approach and LARGE scale production in Oct / Nov doesn't seem normal to me. Its a pivot and a fundamental re write of the approach a slipping of timeline and a quantum increase in delivery risk.
Let's see what next update says.
Had a quick fish around on the company website, so the 10% is Burkin Faso Government share of equity agreed as part of the licence agreement so a known fact for Red Rock Resources, Burkina Faso Government would also benefit from a 5% royalty in the event of production. I have seen junior oil and gas stocks where the relevant Government also benefits from a percentage of potential production, so seems fairly normal to me.
All millionaies this time next year
200k on Alibaba and we are all made for life :)
Time you were right on something Help
Boring Boy is sooo Boring......
Why go and get a mining permit that allows you to go to fully mechanised production and then not go to fully mechanised production?
Fully mechanised production allows the company to process larger volumes of pay dirt; if the grade is constant then the gold production goes up. At a grade of 2 g/t working a ten hour day, RRR would need to process 1,000 tonnes per hour. Four 250 tph wash plants operating in parallel does it: the cost per 250 tph wash plant is $50k on Alibaba, you get discount for more than one.
It really is not a big deal. Things that matters: grade and soil type. Lower grade we need to process more pay dirt, more clay less throughput. We need to process more pay dirt? Then we use more plants in parallel.
DYOR
Think the "20kilo gold" was meant illustratively rather than literally and I read it as such - to demonstrate different rules for bigger production.
Regarding "10% equity share" to the Burkina Faso Government, if that is the same as a royalty I read about some time... previously - if it is the same amount, that is not a reason to change RRR's attitude - they might have already published it via RNS - where I have definitely read about royalty to BF' Government in the event of successful production. The information on royalty as part of prospective agreement will be somewhere in a previous RNS. Alternatively the company could clarify if anyone wanted to email them or perhaps someone more knowledgeable than me will add a quick comment.
Cheers for now...
This gets better.
Its absolutely ridiculous posting from helpfull 20kilo gold per day. That's 700 ounces a day nearly 300,000 ounces a year. $750m dollars revenue.
Dodges the question. Reuters and FASO government say no new permits to small miners ( not large ones)
Helpful then teases we are going big 300k ounces a year big !
It's keystone cops stuff. My guess is permit issue - the one where FASO government gets 10% equity share. The company update will reveal more but no chance RRR could scale up to that 20kg level. Helpfuls nose is growing larger by the minute.
Thanks for the clarification, Helpful. If a permit is not required for the earliest small scale gold production then I think bears, bulls and middle enthusiasm investors should keep an open mind on this.
Any gold production in the near term would be quite exciting for some, some will still criticise but if if it sold, money is money, scaling up will take time regulatory hurdles take time but during such phases some good mining work / assessment can still get done - ready - hopefully to market.
Thank you for your contributions...
Nike, no permit needed in BF at this stage. To go to fully mechanised volume production (like 20+ kg gold per day volume) we need a mining permit. That will be in hand. I don't know (because no one can know) but I would expect the volume production to start November/December, all being well.
Before the trolls start drivelling: until something is done, all anyone has is plans, expectations, intentions and so on. The trolls try to have it both ways. "You must tell us what you intend to do....", "We intend....", "ah but you haven't done it, have you....." Repeat and rinse.
DYOR
Permit pending or not, the decent grades have not gone away... Good reason fod a permit?
Permit---Are you telling this board that RRR arranged to fly in a wash plant WITHOUT a permit?
WOW just another example that RRR plans get negatively impacted by reality
I think shareholders are more concerned at present with the CEO spending money like water compounded by no asset sale and buying more property, no DRC payment, no directors salary cut, no washplant and no explanation of the cause of delay culminating into the mass dilution that has occurred 25 times here in the last 2 years. Talk about fiddling while Rome burns, just turn the air conditioning up and dismiss that the house is on fire. Tic, toc...
Help - have we got a permit ?
If not how long does it take to get one ?
What are the conditions ?
You have previously said we would start small scale production in mid April. What went wrong ?
Presumably no point bring wash plant in if no.permit ?
Hopefully the company will update soon.
Helpful as I have told you many times.
The increase in the price of gold does makes new mining decisions more attractive. So you are right there.
However the concentration will be on QUALITY assets. There is no evidence RRR gold assets pari passu against any relative benchmark are very highly ranked. They are a rag bag awaiting jorc tied up in IPOs or in difficult African jurisdictions.
Holders and future investers are more interested in
- The 200 tonnes of Lithium where is it ? Did it exist. Perhaps we should paint in copper and pass it off as that commodity ? Trust issue.
- DRC imminent. Just the elections ! Trust issue
- Faso production in mid April 24 and $260k a month you promised us. What went wrong. Your credibility shot.
You really are the most ridiculous person.
The only thing happening here is 700m shares issued to raise cash and a GM to allow more authority to issue shares.
I have called the SP decline right for three years. You have been wrong every time.
Morning trolls, more bad news for the trolldom.
https://www.fxempire.com/forecasts/article/gold-price-forecast-the-bull-run-in-gold-miners-is-just-starting-1426464
The way this works is valuations of assets and companies pick up. Companies raise money because they can and they go shopping for assets and takeovers. That pushes asset values higher and company valuations higher: for everyone....... Including lil' ol' RRR.
Top of the morning to you......
Looking forward to updates on BF (gold fkn everywhere), on Australia and CDI.
DYOR
Morning HP'' and all invested, look like AAL has rejected that BID approach from BHP because copper is on a tear ATM, INTERESTING'' regarding RRR own copper asset ? and what it could now be worth''
https://www.proactiveinvestors.co.uk/companies/news/1046196/anglo-american-rejects-bhp-as-copper-prices-surge-to-two-year-highs-1046196.html
Regards..
Breaking news, takeover fever in the mining sector'' AAL have had a BID approach by BHP for Ā£31bil just goes to show there is money in rubble, AAL had 29 RNS today LOL!! Suppose most of those is TR1...
it is said the city is not happy losing i of there biggest giant to Australia ?
and funny enough, RRR seems to be at the right place right time in OZ...