Cautious and Precise - from 29th January 202420 Feb 2025 09:33
My comments in BOLD. Cautious and Precise im still rolling.
Chairman Andrew Bell comments: "We have made significant advances with grant or renewal now achieved at three gold licenses in West Africa, so that we currently have four licenses active, all of which are seen by us as of very high prospectivity.
Activity to begin gold production has begun at Bilbale in Burkina Faso, guided by our local staff and a team of experts from South Africa, Zimbabwe and India. NO PROGRESS HAS ANYTHING BEEN ACHIEVED ?
In DRC, we are continuing to work to press for the release of the arbitration award, now that the election is over. We believe that the conclusion of this lengthy process is now near. NO PROGRESS
Award of the first two licenses in Côte d'Ivoire has also taken up to two years, but our patience and persistence have been crowned with success there, as we continue to believe they will be in DRC. We are working actively on crystallising immediate added value to Red Rock in these licenses. NO PRGRESS _ TERMITE SAMPLE MISSING 18th OCTOBER 2024 RNS. LIKELY FAILED 280K MINIMUM SPEND COMMITMENT ON LICENCE
In Zimbabwe, our primary emphasis on trading to the end of the rainy season or later was a strategy designed to control risk and enable flexible and opportunistic response to price volatility. We do not believe lithium prices, currently below $1000/t CIF China for all grades of ore (before discounts and commissions), are likely to rise in the near future, but as we are able to take advantage of this environment, we are unconcerned and can focus on medium-term growth prospects. Deliveries into China will provisionally be timed for late February or March, not in the expectation of a sharp price rise, but because delivery before then is likely to involve demurrage (storage costs) and/or discounts due to the lack of demand as China goes into the Chinese New Year period with high stocks of both electric cars and lithium. NO PROGRESS – 200 TONS LOST. ASSET FULLY IMPAIRED
Gold should therefore be a better driver of cash flow progress in the near term, and fortunately we are well-positioned with gold projects in this region capable of near-term production. NO PROGRESS
The prospectivity of our licenses in Côte d'Ivoire is evidenced by the third-party interest we are beginning to attract from potential buyers and partners. We plan a management visit to Yamoussoukro in mid-February." NO PROGRESS
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