Trust Issue - FASO15 Oct 2024 07:45
From the 7th October RNS we learnt RRR had discontinued its relationship with Riverstone and Mr Sam and were tellingly told and this is key “Riverstones were unable to provide equipment on site” . Our new partner is Grey point and Mr Michael Billings, has to start from scratch and has just 14 days (6 left as I type ) to procure equipment negotiate with supplier’s and manage logistics.
This is ridiculous as is the new target date of production in 2024.
More importantly re the trust issue that have always permeated RRR and Andrew. All these official statements made through RNS seem false.
27th February 2024
Initial FASO work includes , trenching and benching, drilling two bore holes, ponds, preparation of areas for administration, fuel storage, laboratory, furnace and Security.
Riverstone will deliver machinery much of which is in stock by air and sea with a 6–8-week transport time. Alluvial production on site with minimal delay.
AB said, “we are now working with a group that is deeply committed to our success whose experience and advice we find invaluable”.
5th April 2024
First gold wash plant is expected to arrive by air within a few days and will start operations. “ Early next week Mr Samual and I will relocate to BF to be on site for the whole period of transition into stable gold production and prepare for mechanised mining”.
29th April 2024
Senior personal on site late next week with a view to starting operations at scale from early June.
10th June 2024
Gold testing and production equipment loaded on container on way to sail to BF. Not using air as air freight rose. Earth mining and trucking equipment will be transported from Europe with generators and other equipment. Target arrival early July.
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