Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Contd : Part 2
which means that RRR's JV CENTRAL MUSONI may have either higher grades or bigger licence area = bigger potential deposit of copper & cobalt. From what I read ZINJING paid for Musonoi SOUTH WITH NO PFS even. RRR WAS GOING TO DO THE PFS and asked Gecamines for the CORES but I understand from Helpful, they did not supply it. No wonder.
Why? It was SOLD ON. A/c to Helpful, RRR found out when VUP sued Gecamines and BIG G. Yes, of course, any case filed would be the talk of town in the DRC. THIS IS THE US$20M still owing of which only US$5m was paid out to VUP but RRR won the arbitration case for a 50.1% share.
WELL, IT IS NOW A DIFFERENT MATTER ALTOGETHER GIVEN THE COPPER SUPPLY DEFICIT AND THAT ZINJING SUPPLIES 4.2% OF WORLD COPPER OUTPUT FROM THE NO 2 WORLD BIGGEST SUPPLY COUNTRY IE DRC.
GECAMINES AND THE MINISTER OF MINES WAS CONTACTED BY MINING.COM AND THEY DECLINED TO COMMENT. OF COURSE, IT IS BIG NEWS. 4.2% OF WORLD COPPER IS SIGNIFICANT. AND THAT MEANS COPPER PRICES MAY HAVE TO RISE QUICKER WHEN SUCH A LARGE PLAYER GETS TAKEN OUT. BIG G WILL OR MAY HAVE TO KNOW INFORM THE MARKET ABOUT MUSONI IE THEIR 2 LICENCES WHICH BELONGS TO THEM AND THE CENTRAL MUSONI ==========WHICH IS NEXT DOOR TO ZINJING IN THE NORTH. IF RRR'S MUSONI IS SOUTH OF ZINJING, THEN IT WOULD BE A DEAD DUCK AS ITS TOO CLOSE TO THE URANIUM DEPOSITS IN THE SOUTH. THE MARKET WILL WANT TO KNOW IF GLENCORE IS GOING TO HAVE TO DO ======ACCOUNTING IMPAIRMENT AND THEY USUALLY RUN INOT BIG MILLIONS.=====ITS A BIG BLOW FOR ZINJING and if they were a Western co listed on a big exchange there would be impact on Mon. Look what happened to First Quantum when the COBRE PANAMA WAS SEIZED FROM THEM. A CHINESE MAJOR HAD TO EXTEND US$500M IMMEDIATELY SO THAT THEY CAN BRIDGE THE GAP AND FIRST QUANTUM, WITHIN 24 HRS HAD TO ISSUE BONDS INTO THE HUNDREDS OF MILLIONS. The loss to First Quantum is into the BILLIONS ie loss of Cobre Panama a big copper producer. AT RRR, SHAREHODLERS WOULD BE SINGING IF MUSONI WAS NOT SOLD UNDER THEM. NOW, WITH THE PUBLICITY HEATING UP AND MINISTER OF MINES DRC AND GECAMINES ASKED TO COMMENT, THEY WOULD HAVE TO COME OUT OF HIDING SOME TIME OR OTHER. THAT WILL BE TO RRR'S ADVANTAGE NOW AS IT MAY BE OR APPEARS TO BE RRR'S MUSONI CENTRAL IS NOT =============CONTAMINATED WITH EXTREME RADIATION AND IF SO, THIS ASSET IS NOW A PRIZE AND SUBJECT TO LITIGATION , BE IT IN DRC INITIALLY VIA DRAFT AWARD OR INTERNATIONAL ARBITRATION. Sat, 20.4.24. Big implications coming and appears positive for RRR now with the publicity.?
Theeeeduke
People who say others get paid appear to be rather uninformed? Why? If there is such a thing, one notices that on forums, be they R/pers or D/pers, they tend to use a FORMAT akin to a TEMPLATE and they repeat. Why? They are not hiring PhD or MBA from top uni's. Hence, why when one is posting, it does not matter what one says one's profession is. Why? If an answer is NOT forthcoming shortly without taking ages to reply, then by the quality of the answer, one can tell if that person is who he says he is. NEWS TO HELPFUL: RE: ACCOUNTANT who wants to sell RRR MIGORI. NOW, BANBURYBOY ON THIS FORUM SAYS HE IS A CHARTERED ACCOUNTANT [ACA AND EARLIER ICAEW] and on Harbour he told spec of this forum that he is "ACA , KPMG." Then when it was posted on this forum, he said he worked for ALL THE BIG 4-5. Not usually possible. Why? In jumping to so many accounting firms, one loses seniority and all the time, going backwards for the higher jobs. Then, Banburyboy said at KPMG, HE WAS DOING THE £900M+ COVENTRY BUILDING SOCIETY TAKING OVER THE CO-OPERATIVE!!! This is of concern as you said he is ....validating him. BUT HOW DOES BANBURYBOY NOT KNOW WHAT AN ASSET IS IF HE IS IN M & A [mergers and acquisitions] 101 and a CHARTERED ACCOUTANT? Most people know what an ASSET is. The concern is that naysayers are posting and saying this and that but they dont grasp upon what is ACTUALLY BREAK-UP VALUE AND ASSET STRIPING ie sale etc. SO, JUST DRILLING WILL NOT ELICIT A SALE BUT YES,--------------ALL CHARTERED ACCOUNTANTS K NOW THAT WITH A JORC, A SALE CAN BE MADE AS IT HAS A DEFINITION REPORT of which VALUE CAN BE ASCERTAINED. So, ALL THE MISSED INFO GIVEN TO FOLKS ON THIS FORUM does not appear to be correct. Let us hope, Duke you are not trying to INSULT ME that I need 50p to post @10p a post. If anyone does posting for a fee, say for example, WHY DO SO MUCH WORK, when one just repeats the template of ....or....which even a 10 year can do. I post PART BY PART as I find out what is going on.
----------------------HOW MUCH DID ZIJIN PAY FOR MUSONI, SOUTH KATANGA?--------
REF: "ZINJIN MINING ACQUIRES 51% EQUITY INTEREST IN LA COMPAGNIE MINIERE DE MUSONOIE GLOBAL SA FOR APPROX US$ 7 8 m i l l i o n."-Fasken, 3 Nov 2014. Zinjin bought Musonoi from ZJEJIANG HUAYOU.
REF: "ZINJIN MINING ACQUIRES A FURTHER 21% IN LA COMPAGNIE MINIERE DE MUSONOIE"-Fasken.
"Zinjin paid US$34m."
------------------------RRR DRC MUSONI [CENTRAL MUSONI adjoining next door to Zinjing as above.----------------
My figure has come in correct, in that I said that BIG G could have PAID RRR JV US$80-100M instead of buying it for US$430m sometime later. RRR's JV was in 2019 by which time the licences would have GONE UP IN PRICE post 2014.
Zinjing paid US$78m + US$34m for a 51% + 21% stake in South West Musoni copper district =US$112 million for 82% stake. FOR BIG G TO HAVE PAID GECAMINES US$430M FOR RRR JV MUSONI CENTRAL DISTRICT, WOULD HAVE TO PERHAPS MEAN THA
Wow news - hope they paying you well ! Then again hope you don’t get paid for every word you write otherwise RRR will need another placing before the weekend is out ! - Once again light humour a banter, get out in the sun and enjoy yourself 🙌
GOT HOLD OF THE MINING COM ARTICLE AS ABOVE.
Link: https://www.mining.com/web/congo-copper-mine-suspended-amid-radiation-concerns/ 22 hrs ago, Sat , 20.4.24
There are details:
Yes, EXPORTS are being CHECKED ie "TESTING COBALT shipments" & "BLOCKED AND RETURNED after being exported."
Cobalt is a "BY-product" of copper production
and the Zinjin COMMUS MUSONI MINE produces 129,000 TONS OF COPPER LAST YEAR = "4.2% OF TOTAL OUTPUT OF THE WORLD'S 2ND LARGEST SOURCE OF THE METAL"
"Congo has some deposits of URANIUM==========IN THE SOUTH ---WESTERN PART OF THE KATANGA region and some contamination occurs occasionally. The SHUTDOWN comes during the period OF SUPPLY DISRUPTION in the GLOBAL COPPER MARKET, driven by the surprise CLOSURE of FIRST QUANTUMS COBRE PANAMA MINE. ANGLO AMERICAN also lowered production guidance and CODELCO has seen output SLUMP to quarter century lows." "CONGO MINES MINISTER ETC DID NOT RESPOND TO REQUESTS FOR COMMENT. GECARMINES DECLINED TO COMMENT."
My comment:
Right, all the naysayers said to RRR Chairman Bell that its useless kinda of thing to be in Africa. LOL -------RRR MUSONI NEIGHBOUR, ZINJIN IN CONGO PRODUCES 4.2% OF GLOBAL OUTPUT AND THE CONGO DRC IS THE WORLD'S 2ND LARGEST PRODUCER OF COPPER.
LOL-THANKS TO BELL, RRR CHAIRMAN.
LOL - I posted the link to the map AND URANIUM IS IN THE ======SOUTH WESTERN PART OF KATANGA REGION and ZINJIN'S MUSONI IS SOUTH. RRR'S JV MUSONI ==========IS OFFICIALLY DEFINED AS = C E N T R A L MUSONI, so appears to have escaped the uranium concentration of deposits, hence, Zinjin got the uranium contamination?
LOL============NICE WEEKEND NEWS FOR RRR NOW. MAJOR HAS TO PAY UP. Yes, No. Why? Valuable assets isnt it now, and more so IF it is NOT in the Southern West part of Katanga but CAVEAT await further news. I have take care as Gecamines must be now ...since they wont speak to Mining.com.
"Congo mine SUSPENDED amid radiation concerns."-Mining.com, Sat, 20.4.24
On GLR: "ANOTHER MINE TAKEN OFF-LINE. SUPPLY WILL ONLY GET TIGHTER." -@15:13pm.
This was what I posted earlier about the Zinjin MUSONI , DRC copper mine affecting cobalt from copper.
So, the MUSONI ZINJIN copper mine is large and as said Mining publications have now picked up on the Blooms article.
I said that the MINING WORLD WILL NOW REPORT ON SUCH A MAJOR COPPER MINE in DRC. LoL RRR JV is just NEXT DOOR @MUSONI CENTRAL, part of the award litigation now awaited. I will look at other copper juniors to see if they also know that copper supply will get even tighter with 1 more mine out of circulation.