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Banburyboy, I emailed the company - was given a polite reply and advised to consult the RNS of January 6th 2022. Whilst the combination of information was not too complex and I do think I understand it, it is for others to do their research if they want a closer understanding.
At a basic level, I took it the regulatory terms are in that RNS and are still the actual terms, so the company website is likely to still be relevant on this matter.
Yes Robins both comments were strange to say the least.
Riverstone are not doing this for fun and I think will gain a significant equity stake. RRR are allways skint and gave away 28% of ALR [ 75% to 47% ] for buttons. Riverstone have RRR over a barrel.
All will be revealed but two considerations [1] will Faso deliver to time and live up to the ridiculous hype ? [2] what's RRR share ?
Oh and I forgot AB said re the BK president that " I think he is on a state visit to France ". Only thinks? Not good enough really.
The problem I have with AB is that he never actually achieves anything re Company profitability. In his latest interview he uses words like " We will pull ourselves up by our boot laces" . Really? And when asked about costs to be incurred during the initial run up to June in BK he smugly says " where funds are required our partner will send money without question" Really.
The price hasn't tumbled"News"that didn't "last long'Placees in a spot of bother now
AB in his last interview mentioned that RRR has to wait for certain events to happen within DRC for the arbitration process to move forward--ie the newly appointed Prime Minister (she was appointed on April 1st)
The prior Prime Minister had to resign after he won a seat in the Parliment at the end of February
Also the President of the DRC is in France today meeting with Macron.
IMO the above helps explain the apparent lack of progress in the Arbitration Process. AB made a brief reference to these issues but I think RRR should provide additional context/details, particularly for those who (like me) do not follow DRC politics. I did this research today to satisfy my own frustration about RRR
current status of Prime Minister see https://www.theafricareport.com/345273/drc-the-inner-circle-of-new-prime-minister-judith-suminwa-tuluka/
DRC: The inner circle of new Prime Minister Judith Suminwa Tuluka
By Socrate Nsimba
Premium badge Reserved for subscribers
Posted on April 30, 2024 07:00
L-R: Roger Tuluka, Daniel Mukoko Samba, Judith Suminwa Tuluka, Simon Kimbangu Kiangani and Françoise Buela Bwaki. (Montage by JA)
L-R: Roger Tuluka, Daniel Mukoko Samba, Judith Suminwa Tuluka, Simon Kimbangu Kiangani and Françoise Buela Bwaki. (Montage by JA)
Appointed on 1 April 2024 by DRC President Félix Tshisekedi to head the executive, Judith Suminwa Tuluka has yet to appoint her government. She is close to the presidential couple and knows she can count on a number of loyal supporters. The Africa Report looks at who’s who in her inner circle.
Great Post Spec and I really wish it was different.
Absolute record low buys of 0.053p and sells at 0.048p. No one is buying into the FASO stuff unfortunately.
My fear is even if it comes good to secure financing RRR has given away a very large percentage of the holding company FASO Greenstone limited.
FASo government gets 15%. I think Sam will be pushing for 51%.
Even if it was a 34% holding that's great but I fear that will be best case. We of course await the company telling us and beware Reach RNSs presenting gross figures rather than Net to RRR.
Why might they do that ?
To let placing mates sell at a maximum profit ?
Remember DRC after the election, Chinese buyers , first Lithium exports. All spikes as the herd rushes in followed by chunky selling by the "few"
Unfortunately no Herd shows up anymore after any RRR RNS. We had one lad this time who only lasted a day.
It's just an echo chamber of old timers now :)
News yes people post 'views' or opinions and there is nothing wrong with that. Nor taking a bullish or bearish viewpoints.
For me where i disagree is when there is an 'view' that RRR can process gold at an average grade of 2 grams. IMO that is simply wishful thinking, a daydream, totally unrealistic etc. I can say the same thing about posts with a viewpoint that production would happen in April/May. Delays are common in a new venture particularly at the very start. Much is unknown or unreliable even from local sources
Long time readers of this forum, such as myself, naturally push back or comment about such posts particularly from long time posters who have a history of making such unrealistic comments
Didn’t think it would be long till sub 0.05 sells after latest pump failed and delays admitted to.
News timed his posting delightfully. Moments after posting the SP was holding up we have a 5m sell at 0.048p.
No one unfortunately is buying the hype anymore and Helpful has to peddle harder and harder.
I have saidvthis many times but he does yhe Company no favours.
The more he posts rubbish the more outraged the many on here become.
What new investor is going to invest here ?
It's pretty clear if it was as valuable as they say Bell Topham Lundy Black the privileged few would be buying in spades.
The fact they are not tells you everything.
Helpful, Since you are a holder of Elephant Oil Corp [investee co of Red Rock Resources], please keep us posted about Namibia as oil exploration is hot there. At the momo, a junior aim explorer in Namibia is the No 1 top riser at 113% at the momo. Thank you. News, 30.4.24
English distinction between FACT ie from mining CONCEPTUAL study or Maiden Resource of grades etc vs VIEW qualified by limited info. So, 2g re: RRR Bukina Faso, not from me is not yet known but Willem , the Chief Geo at RRR Bukina Faso would have some estimation, so email RRR. So, a VIEW does not QUALIFY as FACT. Most of the bears dont post FACT either via official RRR RNS but they post views, of which everyone has views but not FACT until it comes out via RRR RNS or FINANCIALS 101. =========BASIC ENGLISH.==========
Banburyboy: You stated you are a QUALIFIED CHARTERED ACCOUNTANT and from this, you use it as a platform but this is NOT PROVEN yet. Ah, now you call 1 folk here "board charlatan"----------ooohhhh, wah!! A Chartered Accountant must pass law papers [plural] and therefore, can any qualified accountant call someone "charlatan" when there is NO LEGAL EVIDENCE to support it. Just AKIN. That's all from me. Ta Ta. I am off to relax as the sun is up and RRR share price hasnt fallen and tumbled so all the bear stories are NOT frightening anyone --- like the big holders of RRR? Yes, No. News, Tues 30 Apr 2024. DYOR. NIA.
Helpful - known insider and flyboy. Holds CLNs, participates in placings advises company owns 10% of ALR.
Member since 17th Dec 2013.
Posts 12,572
Sp when started posting 0.67p
Adjusted for a 25 to 1 consolidation in 2015.
16.7p
SP today 0.055p
Decline since Helpful championing this 99.67%
A tad over 200 fold.
Banburyboy - shareholder Chartered Accountant and NED.
Member since Oct 2020
3,876 posts
SP When started posting 1p
Sp now 0.055p
SP Decline since Banbury WARNING on this 94.5%.
Only one winner here.
Helpful should hang his head in shame.
Even if we got to a $1bn market cap some of those he advised to invest in Dec 13 would not get there money back. Do the maths as the board charlatan would say.
"facts' posted by the Bulls (really 'BS')
you posted all the bullish posts came from facts' gleaned from RNS or intereviews.
Where/When did RRR ever say anything about cash flow from Burkina Faso? answer nothing at all
Where/when did RRR ever say anything about the average gold grade? Answer nothing at all
an average grade of 2 grams would be great but there is no factual basis to state that the AVERAGE GRADE will be 2 grams
In 2022 RRR announced that the BEST drill hole had 3.1 grams at depth of 22 metre so the best average in this ONE HOLE
One hole is certainly not representative of the area
These so called 'factual' posts are simply made up and then feign disgust when others call out BS
Hey Dukey, Mr "I am a man of my word". Are you going to pay that £1,000 to Christie's or not? Are you going to explain to everyone why you thought Musonoi was worth nothing and no one would be interested in buying it, just as Glencore was getting ready to pay $430mil for it? Are you going to explain why you insisted that RRR would never get its Kenya licences reissued just at the time it was getting them reissued?
DYOR
Blueboy1975. That's my answer to you since you addressed it to me. The above figures are FACT and cant be challenged as they are OFFICIAL statistics of junior explorers in the bear market. London South East invited a mining analyst and posted this so, something commonly known to all. Me, I DONT KNOW about RRR yester year but I only entered at this lowest price and for me , it is only a small tiny interest. Comprende. Not replying further. News, Tues 30 Apr 2024.
Paul Johnson: It was posted that Paul Johnson's break in life came from RRR, so that's his blessing isnt it? Nothing to do with anything else but one's own blessing of right place, right time, right price etc.
Banbury, at least people now see through his absurd BS posts ! All his pumping today and over 9 million in sells and just over 100k in buys says it all !
"El Limon The Company owns 100% of the El Limon Mine and Mill in Antioquia, Colombia. The mine is subject to a 3% NSR royalty on gold mined on the El Limon mineral licenses, to a maximum of US$2,000,000. Upon reaching
the US$2,000,000 NSR royalty threshold, the NSR royalty decreases to 0.5% up to a maximum of US$1,000,000."
"Initiating the restart of the el Limon Mill is a key component of our strategy to expand milling capacity. This move positions us for increased production capacity and sets the stage for robust growth in ounces produced, extending into 2024 and beyond"
DYOR
Nike you are missing the bigger picture re Helpfuls numbers being nonsense.
The website is not up to date
- Royalty now 7% and public ownership 15%.
It's not clear what the 10% rebate relates to at best 27.5% is 17.5% but most likely first 10% is exempt bringing effective rate to 24.75%.
Its not material
Helpful is not the accountant on this board and it painfully shows.
He's wound his neck in on costs of $350 to $500 an ounce and made up a new figure of clearing $1,300 an ounce.
So cost say $1100. In that tax environment and based on all known gold cost benchmarks that is impossible. [ he will spout his A level nonsense of marginal cost = marginal revenue but its not relevant here]
No matter he continues to spout rubbish. $7.5m by the end of August is rubbish.
His illustrative numbers are absurd to the extreme and he needs calling out as many have done over the last five years when he has posted relentless tosh.
I feel like DJT on Truth Social ranting. Helpful really is contemptible IMO !!
Https://finance.yahoo.com/news/soma-gold-reports-end-financial-090000520.html
"Finalize plans to restart the el Limon Mill to process both excess ore from Cordero and ore from formalized small miners."
DYOR
Neighbours in CDI.......
https://x.com/KoboResources/status/1785266903423824183
DYOR
... presentation. (missed from earlier reply)
Banburyboy, there is a 10% profit tax rebate on the standard 27.5% corporation tax to what you are referring, this on the company website if anyone wants to go to the relevant section and download the
Helpful absolutely disgusts me.
He's an insider on RRR. He posts lie after lie of absolutely fiction as fact.
He's never been right note how $350 to $500 per ounce costs, 1100 tonnes per hour throughput, production mid April last week or this are just discarded. Complete rubbish called out and moves on.
Note the clown show that is Stephen Paul Lundy is saying 82 days so end of August 24 and we will have $7.5m.
The SP is clearly not picking this up.
It's pathetic and pitiful and he should be called out for talking s*ht all of the time.
And Helpful says we post nonsense !
“ IMHO Burkina Faso swamps anything that RRR will get from DRC or from Australia”. Says the man who said Tin Hill in Sept 23 would deliver 1-5m tonnes of Lithium !!! 200 tonnes missing in action
“EG lets assume post costs and taxes FASO nets $1,300 per oz.” So $1,200 costs I called him out for ridiculous numbers he said on a number of occasions $650 cost per ounce which he reduced to 350-$500. He’s more ball park and closer but still miles out. The effective rate of tax in FASO is 7% royalty at this gold price 1% community charge 27.5% corporation tax and now 15% public ownership so getting on for 50% squeezing a profit of $1,300 out of that is impossible. And can we excuse previous made up figures which i highlighted numerous times
“To match up DRC, RRR/FASO would need to produce 5,769 ozs; assuming no costs in DRC. There will be costs in DRC and the net will not be $7.5mil. At 2 g/t RRR/FASO will need to process 81,767 tonnes. At 1,000 tonnes a day on a ten hour day that is 100 tonnes an hour. To produce $7.5mil net would take 82 days.” He was talking about a ridiculous 1,300 tonnes an hour previously and was called out for it thankfully he’s now back at 100 tonnes.
“You can pro-rata it up or down. At half the rate, ie., 50 tonnes per hour then it is 164 days and so on. I have taken the costs, royalties, taxes and JV share into account”. NO YOU HAVE NOT . My guess is we don’t own 100% of FASO Greenstones anymore
Helpful is an idiot !!
His predictions are absolutely rubbish and should be confined to the waste paper bin where they belong.