Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Maidit- fyi No one would knowlingly build a 'weak gold room' Everyone would want a 'strong gold room'
Based on RRR's news releases, postings, and interviews RRR's partner has operated alluvial gold plants before, operated in Africa before and therefore should know what they are doing. Their report, which released by RRR, was very positive so now we wait: equipment to arrive, passports & work visa's to be obtained to allow for legal entry into the country for both equipment and people.
June time frame is reasonable and should be achievable
Just listen back to the interview, and it was very good to here AB said'' we have already got a partner in Burkino Faso and when it comes to funding they will send us as much as we need to get production going and all the equipment we will need hmmmm it suggest to me that AB has got in with the local government bodies that controls the area and the mines in this community'' a local partner can only be a good thing when it comes to the illegals, and another big + is that we are going to sell any gold find there immediately'' to start getting revenue in from day1 more patience is required I suppose... as there will be a lot of building work going on to house the staff and fencing going on to keep out the undesirable and perhaps all the security we will need if AB is also building a GOLD STRONG ROOM ??
looking forward to next month and the news flow that should come with it...
regards
Been around these CASINOS for years and see certain moves and signals, and I get the feeling that after 10 good news of progress from last year to now'' that our NOMAD is a wrong on'' and that his firm is looking more and more like an inside man, that have been gotten at'' and if AB don't get rid and replace them they will advise the same again and again when our SP should be going on a run..... with GOLD & Lithium on a historic rise
see what happens in the days ahead
regards
As I said this morning, as soon as decent bid above 0.05 boom its taken ! 4 million sell, interesting to see if any below placing price, worrying times if there is in my opinion.
0.0525 to 1p is not impossible in this gold rush, I'm super super excited and will not be put off by trolls, that fester these threads, or dodgy NOMAD REACH RNS that seeks to hold back the rise, but have now worry in bringing a 7am regular RNS when it's a funding call so everyone can see it... ???????? to get a drop..... I see what I see in these casinos.... and it's FKN nasty.....
and will never talk to trolls no matter how desperate they get for that reaction, they can talk until there mouth stink LOL!!
Maidit you have predicted a movement North at least twice a week since you joined the board in the summer of 23.
The law of averages means you will be right one day.
But never has the saying one swallow does not make a summer been more apt than for RRR.
Morning HP'' / NEWS'' / H50'' / NIKE'' we know the grades are high and that the geologist report was very positive, and that production will soon start in a few days time, and that SP is still on the floor because of how this good news was relayed to the Market, but I'm still excited about the future for RRR and all it's genuine shareholders time will tell..
anyway 4 trades so far 1 trade over ask so we should soon start to see some movement north''
GL
Latino - welcome to the Board.
Couple of observations to note :
- This is reach RNS. So little more than a news letter and no price sensative information. The Nomad seems very careful on RRR.
- The SP has been in terminal decline for twenty years and fund raises happen frequently 160 of them to date. Over 100bn shares adjusting for a 25 to 1 share consolidation.
- Company has yet to deliver on any milestones / promises on Lithium and Copper.
- Faso really tough place to do business. Anti western sentiment growing and third headline on this mornings world service news. German and French media banned as well as British and American.
- Any rise is allways sold into by placees. They were in at 0.051p and investers wanting the exit.
- the poster Helpful participates in placings, holds CLNs and 10% of ALR the Lithium arm. He is not objective.
It may come good but lots of risks IMO
If you don't mind me asking what attracted you to this board ?
All the best and you are in atva better price than most.
This is why they are embarking on an aggressive program, initial camp set-up on site early as next week…
The Company is currently arranging four time-critical workstreams: (a) transport of the washing and production equipment necessary for operations to Burkina Faso, (b) the passports and other paperwork for some 25 expert external staff who will be required to be in Burkina for the commencement of operations, (c) transport from Asia of hire plant for excavation, and (d) preparation of initial camp accommodation and eating and security facilities on site for an initial daytime workforce expected to exceed a hundred people. The first two of these workstreams have been subject to bureaucratic delays and some additional cost factors but are now under way.
The CEO and other senior personnel will be on site to oversee camp preparations from late next week, with a view to starting operations at scale from early June after arrival of personnel and equipment. This timetable is subject to no further delays at customs or in passport issuance or other official paperwork requirements.
Red Rock CEO Andrew Bell comments: "We are absolutely committed to driving this project to scaleable operation within weeks. Great progress has been made to overcome delays, and we have been working, and will continue to work, day and night, seven days a week, on this critical project implementation phase, with strict cost control."
Authorities traditionally struggle to control the artisanal sector which, the mines ministry says, produces an additional 10 tonnes of gold a year. ??
THAT'S A FKN LOT OF GOLD ON THE MISSING LIST FROM A COUNTRY THAT CAN ILL AFFORD IT'' IT NEED TO STOP NOW''
More stories of gold in them there hills.... unsubstantiated artisanal samples with un audited samples of 8g/t of gold. this is a common thread with a conman. I have some beans to sell you....
RNS later DRC money received "plane has landed"and started work"found tonnes of gold 😆
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?