George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Content to wait for further update on it which night be more definitive or of course anyone interested in this matter could just email the company.
Regarding a small UK company with a mining interest, this might be commercial for a Government that might otherwise possibly be discounting if the country of another miner is providing security so some diversification of deals might be beneficial.
Regarding very sad mortalities due to armed conflicts and disputes, multiple primary sources if possible builds confidence in reported details. In another part of the world even a very reputable organisation has been wrong on occasion. I've usually got an open but not malleable mind while acknowledging respect needs to be maintained for serious matters.
Https://twitter.com/Lazerblue/status/1784495194588488168?t=Q7OLuIUe36p6VpZcjeYUoA&s=19
DYOR
Nike
I think the licence and permit are two separate things.
State ownership seems to attached to the permit.
The inference from Helpful is we don't have a permit ( pivot small to big)
So unlucky on timing if so. Captured by the 15% rule.
My general point is FASO tough to do business.
Helpfuls view is ridiculously jaundiced.
He promised production last week or the week before. He lurches from being wrong once to making up another ridiculous prediction which is then wrong again with far too much frequency.
Let's see what the company update says.
It is also interesting that RRR have been investing in Burkina Faso since 2008 and as two licences have been on the website / detailed for some time I am assuming they are on the basis of 10% equity to BF Government plus royalty. I'm not keeping up with the minutia all the time but if there have been more since the announcement of increase they would be subject to that, that's how I read it, either percentage seems reasonable to me.
Https://www.aljazeera.com/news/2024/4/26/burkina-faso-suspends-bbc-voice-of-america-for-reporting-on-army-killings
DYOR - seems strange Helpful said they want western not Chinese / Russian investment
Https://apanews.net/burkina-faso-to-build-gold-reserve/
Interesting DYOR
Still waiting for promised report on Burkina Faso.
Still no comment on permit is needed to start gold production.
Still watching those lithium exports as requested by AB
FYI working out how much gold is on the RRR claims is not a function of how much the river floods.
I have never read any reports where small miners rush into an area after any river floods
Four machines from Ali baba and we are all millionaire's.
Helpful in Sept 23 you were telling us 1 -5 million tonnes from Tin Hill. It was revised down to 200 tonnes that is now missing in action.
Your superlatives struggle to make the light of day :)
Indeedy.
"Near surface", it obviously is near surface, it is alluvial. There will be some overburden but it will vary from site to site. The licence is 180 km2: the alluvial is substantial.
Work out how much gold is in 2 km2 with 10m of pay dirt: likely alluvial is substantial: it is a function of how much the river floods. Check it the Black Volta, it is a big river. https://en.wikipedia.org/wiki/Black_Volta
DYOR
Revision to mean !
The high to low variation is around 100% over 40 years . So with average luck shares would double from the 40 year low to a high.
Problem with RRR is any good news will be used as an excuse to issue new shares.
No use the market cap doubling if the share count also doubles. A huge problem for RRR for as long as this board has existed. One hundred and sixty plus fund raises by issuing shares in twenty years !
DYOR .
Helpful No Elephant IPO despite three years of promising.
What's the latest ?
Don't even think we have a planned date.
They say mining is about relationships so if Bell gets along okay with people there that is good. Agree with you that BF Government may not be that exclusory to alternative geopolitical players but don't think they will have a problem with all UK companies.
Regarding the earlier commented "quantum of risk" element: if the gold is near surface and the potential number of wash plants become actual and suitably increase, it's not that difficult to imagine a quantum of revenue.
Appreciate even a little revenue within AimDogs timeline (plus including in to the summer) would be nice, meaningful informstion as to the start of revenue would be nice. Am not expecting that yet...
Sight delays / complications (even if it's just getting the right equipment in good time and making sure enough staff are ready) as juniors try to start production are common, hopefully RRR is on the right track.
Helpful
"The government wants us progressing because we are a western company who will pay taxes, they don't want Chinese and Russian operators.
The number of Wagner troops is up this last quarter from 1-3k.
French diplomats are being expelled. Britain has no consular presence. Andrew will be bigging up his Russian sympathies and probably using Sam to front as a non westerner.
RRR as a uk registered company will be done no favours. Also just saying RRR has never paid taxes in twenty years.£30m of accumulated losses and failure.
" this is aimed at illegals and artinsenals "
Illegals by definition would not seek a permit nor would one man bands. Its aimed at small scale ad hoc operations. Just like RRRs original plan.
That's why we have to go big and the change in direction. You must think posters are stupid !
Look forward to the next update :)
Any news on 200 tonnes of Lithium ?
Http://oilreviewafrica.com/exploration/reconaf-to-commence-drilling-damara-fold-belt-onshore-namibia
DYOR
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 helpful🤡 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