Member Info for Helpful

I checked this. Speccy is a Canadian resident investor and thinks he can cite Canadian law here. RRR is a UK company, traded on a UK exchange and subject to UK law. What the law is in Canada is irrelevant.

Insider and Insider Information have specific meanings in the UK: check the FCA website. What it means in Canada is of no interest.

It remains the case that my view is that RRR is in a good place. I have never stated or urged or suggested on here that anyone should buy shares in RRR. If you check my posts where the opinion box is, I have never expressed an opinion buy or sell.

My view that RRR is in a good place does not negate that RRR has issues to navigate. It is in a good place for the following reasons: by and large it has good licences, substantial licences in materials/metals that are currently hot (excluding lithium but this in any case appears to be a relatively short term pricing issue). We are also at the early stages of metals super cycle.

For instance, lets look at Migori which gets no attention at the moment. It has two JORCS one for the Macalder Tailings which is measured (the highest level) and the rest of the licences in a separate JORC. The non-Macalder JORC was restated from a 2008 JORC to a 2012 JORC and went down from a JORC of 1.3 ounces to 735k ounces (not checked: from memory). The ounces didn't disappear, they are still there but not counted because of the JORC 2012 rule changes. RRR has to do some more drilling to bring those ounces back into account in a new JORC. RRR did have a buyer that faded away during COVID and now that gold is at $2,600 and bit heading to $3,000 it should be far more valuable then during COVID. The licences are currently going through the renewal process.

Once the licences are renewed and RRR does the extra bit of drilling Migori should be worth decent money. What is it valued at in the SP now? Well probably zero.

The time to buy assets is when no one wants them. I recently bought £1.25m of debt for £1.00: precisely because no one wanted it, including the person owning it.

Buying distressed debt is a good game, if you know the rules.

DYOR

DYOR

DYOR

Seems like $2,675 is the current resistance.

Currently $2,666.

NB the USDGBP exchange is now $1.26 it was $1.31 a couple of weeks back. Very good for GBP investors holding USD assets.

DYOR

Amy, RRR has shares in Elephant Oil. Elephant Oil has three sets of licences: Namibia, Benin and Cote d'Ivoire.

The Namibia licence is directly south of Recon's licence and abuts it. Recon is currently drilling what is called the Damara Fold Belt. The CPR is a lot of oil and gas: the gas is over 20 TCF.

The Damara Fold Belt (DFB) trends through Elephant Oil's acreage. This well that is being drilled is the first in the DFB. They have identified Whaleback Anti-Clines (same as in in Iran and Kurdistan). Recon has over twenty targets on its acreage.

So the targets have been identified, what we don't know is if the oil and/or gas is still there and that can only be proved with the drill.

If Recon hits then it is highly material for Elephant and in turn for RRR.

DYOR

Https://finance.yahoo.com/news/reconafrica-announces-operational-appointment-directors-110000543.html

DYOR

No, nothing to do with me. It was coming a mile off. Pine Mills is a great asset but it won't pay enough to fund a new drill. If they do a new drill they will need a partner or to raise again. I don't know why but new drills are expensive down there. They might get a positive redetermination but again expensive: they would have to do the workovers first and then get a new CPR.

Gregory East was a big disappointment.

It remains a takeover target.

DYOR

How are the gold trades going?

$2,665...

$2,700 incoming..

DYOR

Such a fragile ego Boring Boy.

Several falsehoods as usual.

The real reason you are upset is that your pontificating gets shown up. Ideally you want no one on here to contradict your assertions.

I have the holdings in ALR and FML because I paid for them to fund activity when no one else would. RRR shareholders will benefit due course. It will be a bit longer for ALR but FML has real value now. BF is increasingly hot.

I had the CLNs originally to fund DRC; you know the asset that was stolen and sold for £420m. RRR shareholders will benefit in due course.

Elephant, I have those shares because I paid for them, nothing to do with RRR. Again, RRR shareholders will benefit in due course.

You need to look up inside information and insider; they have specific meanings. Once information is in the public domain, from whatever source, it cannot be inside information by definition. So if Recon puts something in the public domain which then has consequences for Elephant which then have consequences for RRR it cannot be inside information.

Just because you don't know something or understand something doesn't make it inside information. My having a view or an opinion is not inside information.

Another with a fragile ego was going on about inside information a while back and then shut up once I showed that the information was in the public domain.

Lastly, you bought a London pub lunch's worth of shares in RRR so people couldn't say you weren't a shareholder and you sold out a few weeks ago. So obviously, the fact that RRR shareholders will benefit isn't so relevant to you.

DYOR

You need help.

Https://x.com/ABell2019/status/1859326078323462303?t=5TmLDuC1DEzw_33zXQC22Q&s=19

DYOR

Https://x.com/EdConwaySky/status/1859191006593208484?t=M8pR3Val6iatdIpuQUEqXw&s=19

DYOR

Oops! Didn't refresh $2,650.....

😎💰💰🤪

$2,642

😎💰💰

Doing it again Boring. Why not try disagreeing with something that was said.

Dukey, you really do need help. Do you have no one else to talk to? Get yourself down the stables and go for a walk, if necessary talk to the horses. You will feel better.

No I won't be unblocking just yet. Maybe tomorrow, lets see.

You two are a right pair of Eyeores: what you are doing is called Nelsonian Knowledge. It is based on Nelson putting his telescope to his eye patch and saying he can see no signal. That is, deliberately avoiding reality; US politicians use it all the time." I have seen no evidence to suggest any such thing". What they mean is that they know the evidence exists and is there but they avoid seeing it so they can pretend it doesn't exist.

The kit that was being moved out April was kit belonging to Sam: they were concentrators and at various times, it was suggested that is was 12 or 16 or 20 concentrators. Sam would not let his kit land without his Indian staff being there to receive it. RRR still has a presentation on its website modelling up to 16 concentrators. The initial plan was, I think, for 4 to be flown in and the rest to follow by ship. Supposedly, the concentrators got to Customs in SA and they tried to levy VAT. So the kit didn't go.

At various points Sam was supposed to be shipping the kit to BF during the Summer. What was envisaged was an entirely bigger operation day one and consequently it was more complex. It seems to me the complexity overwhelmed what Sam wanted to do, along with rules about Indian Expat works changing.

The current plan is initially much smaller and will cover production, prospecting and sampling with a step up in January.

The current plan will generate extensive data and help to optimise from January. It will also permit us to develop relationships as can be seen from the X post earlier.

All of this is in the public domain but you just choose to pretend it isn't. To paraphrase AA Milne, "Trolls of little brain".

Next modelling is not reality, that would be like saying an Airfix Spitfire is the same as a real one. FML/RRR has a model and it will get updated in light of reality. FML assumes 2 g/t free gold and 2.5 g/t Saprolite. There will be areas of higher and lower grade that is what the XRF kit is for. I know it is a lot to take in but go slowly and think about it.

I don't know what the throughput is on the kit in BF nor do I know the size of the kit being moved in during January. I suspect that RRR won't commit to the higher throughput kit till January when it has assessed things.

DYOR

$2,643.......

$2,700 incoming. Putin helping us.

DYOR

So Recon has an updated presentation out. AGM anyone wanting a copy speak to Lycra Boy, he knows everything.

If the Zumore thing is about Kenya, I have seen it. As usual, complete nonsense. Someone sent it to me. The basic proposition is false. If RRR had lost the two Special Licences, it would have to tell the market. They are in the renewal process, delayed by the Kenyans.

DYOR

Boring Boy, why do you constantly misrepresent? I didn't say it was poor, I said he allows himself to be distracted/put off his agenda by the interviewer.

Https://x.com/ABell2019/status/1859217308457001032?t=gWGe6ldPXQNZqVjeXv8M0g&s=19

Obviously this can't be true because Boring Boy said so. DG is Director General: Cadastre is the online register of licences.

DYOR